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Daily Bulletin – 09/04/09
Daily Bulletin | 09 April 2009
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Ezra Wins US$47m Charter Contracts Despite Downturn; 1H09 Results Fell Below Expectations Though
Ezra Holdings has won new and renewal contracts with charter periods of 2 years for 3 anchor, handling, towing and supply vessels (AHTSes) to various parties for operation in Southeast Asia, reflecting the still firm demand for offshore support vessels. These contracts are expected to contribute positively to the company’s earnings through FY09. Separately, the company has just reported an 84% decline in net profit though, despite an 87% increase in turnover in its latest 1H09 results announcement. According to Citigroup, the results have fallen below expectations, with 1H09 net profit hitting only 41% of its FY09 earnings estimates

Babcock & Brown Offloads Music Copyright Assets For US$48.1m
Babcock & Brown Global Investments has inked an Asset Purchase Agreement with an entity managed by Pegasus Capital Advisors, a US private equity firm for the sale of its portfolio of music copyright assets for US$48.1m. Proceeds from the transaction will be used for helping to repay the company’s corporate debt facility in full by April 2009, coupled with contributions from existing cash reserves. The company expects to be able to provide dividend guidance in respect of its 1H09 ending 30 June 2009.

China Energy Extends US$51.5m Short Term Loans, Backed By 10m Warrants Issue
China Energy has inked certain agreements with creditor bank, ABN Amro, to extend the tenure of its existing short-term loans amounting to US$51.5m till 2010. In addition, the company has issued 10m warrants at the exercise price of $0.13 with 5 years of validity to the bank in relation to the transaction, representing a 9.4% discount to the weighted-average price of the stock traded on the day of signing of the agreements.

Aqua-Terra Associate Secures $21m Civil Engineering Contract In Qatar
Aqua-Terra Supply Co’s 49%-owned JV company, Aqua-Terra Middle East has won a contract of about $21m from a Singapore conglomerate for the civil works of 7 dried sludge storage warehouses in Qatar. The contract is due for completion by end FY09 and is expected to contribute positively to company’s FY09 performance.

Ezra Hldgs  -- -- --   
Business: Co is a provider of integrated offshore solutions to the oil & gas industry. [FY16 Turnover] Marine Services (68.9%), offshore support and production services (25.7%), subsea services (5.4%).

Insight: Oct-17, The US Bankruptcy Court approved the appli... Read More
Global Investments  0.139 -- --   
Business: An open ended balanced mutual fund. [FY18 Asset Class] Bank contingent convertibles (35.8%), bonds (31.7%), listed equities (14.7%), cash & others (11.9%), loan portfolio & securitisation assets (5.9%).

Insight: May-19, 1Q19 reported total income of $14m instead... Read More


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