Sealink to go public in Q3
By STEPHEN THEN


MIRI: Sealink International Bhd, an integrated service provider for the offshore oil and gas industry in Malaysia, will be floated on the main board of Bursa Malaysia Securities Bhd in the third quarter of this year, the company said on Wednesday after signing an underwriting agreement with AmInvestment Bank Bhd here.

Sealink chairman Datuk Michael Hardin and its managing director Yong Foh Choi signed on behalf of the company while AmBank Group managing director Cheah Tek Kuang and AmBank Investment Bank managing director Kok Tuck Cheong signed for the bank, witnessed by Sarawak Assistant Minister for Infrastructure Development and Communications Lee Kim Shin.

The agreement is for the initial public offering of 113.37 million new ordinary shares of 50 sen each and offer for sale of 15 million ordinary shares at 50 sen each.

Sealink, founded in 1974 by managing director Yong Foh Choi, has two shipyards in Miri. The company builds and operates a diverse fleet of offshore marine support vessels to serve the global oil and gas industry.

Sealink is an investment holding company with 16 wholly owned subsidiaries. It now has 29 vessels of all kinds.

The company recorded a gross profit of RM58.9mil last year on revenues of RM162.7mil, an increase of 50% and 68% respectively from the year before.

Yong said during the signing Wednesday that shipbuilding will continue to expand as the oil and gas industry worldwide surges forward.

"We intend to establish an office in Singapore soon and want to penetrate the global shipping market in Netherlands and Norway," he said.

how many lots allocated to you? and at what price now?

35 lot only...ok loe. i will wait and see how much for the IPO.

I can't buy this cause I was involved

Did sealink successfully get into Main Board?
What is the code?

Listing today - code 5145 (sealink)

Very wrong timing for IPO, especially for O&G related counters
Just listed only already drop from RM1.25 to RM1.11. Those applied for IPO really 'kena'

now onli at rm1.04.....can buy in now?is the fundamental of sealink strong?


This post has been edited by tth188: Jul 29 2008, 01:59 PM

Have you done your research? If not, do not rush in to buy now. There is still more to come.
Today's one day drop might not be the last, so why need to rush in?
As long as the price of crude oil keeps dropping, we would see Sealink's price to drop also.
So, keep out of O&G counters first

This is just my opinion and 2 cents, you may disagree with it.

I'll buy when it reaches 50 cents.

Sealink’s 19.2m shares done off-market at RM1.26 each

KUALA LUMPUR: Newly-listed Sealink International Bhd’s 19.2 million shares were transacted in several off-market deals at RM24.19mil.

Stock market data showed that the average price of the shares transacted was RM1.26. The shares represented a 3.84% stake.

At 4.10pm, Sealink’s share price was trading at RM1.11, down 14 sen from its offer price of RM1.25.

The weaker sentiment for the shares was also in line with the cautious regional markets.

Aseambankers Equity Research said the offer price of RM1.25 was pricey as it was based on 12.5 times FY08 earnings per share vis-à-vis local and Singaporean peers, which trade as low as 7.0 times.

URL: http://biz.thestar.com.my/news/story.asp?f...59&sec=business

Sealink, Uzma opens below IPO price

KUALA LUMPUR: Sealink International Bhd and Uzma Bhd made a weak debut on Bursa Malaysia Tuesday with both counters opening below their initial offer prices (IPO).

Sealink, which was listed on the Main Board, opened at RM1.18, or seven sen below its IPO price of RM1.25. Uzma, which was listed on the Second Board, fared worse, opening at RM1.70, down 20 sen from its IPO price of RM1.90.

Within the first half hour, there were 4.68 million Sealink shares done at prices ranging from RM1.10 to RM1.19. At 9.30am, it was trading at RM1.12, down 13 sen.

Sealink is an integrated shipbuilder, owner and vessel operator based in Miri, Sarawak. It is expected to deliver 31% and 21% revenue and net profit growth in 2008, riding on its RM325mil orderbook.

Aseambankers Equity Research said the offer price of RM1.25 was pricey as it was based on 12.5 times FY08 earnings per share vis-à-vis local and Singaporean peers, which trade as low as 7.0 times.

Uzma’s shares saw lower volume traded, with only 99,800 units transacted at prices ranging from RM1.60 to RM1.90 in the first 30 minutes of trade. At 9.30am, it was trading at RM1.80, down 10 sen.

URL: http://biz.thestar.com.my/news/story.asp?f...05&sec=business

I will buy once the oil price stabilize and PE drop to 7.

buy at 1.00

reviving this old thread.

who's with SEALINK?

Sealinker checking in.

average 76 sens.

4sen div to be paid. representing a 5%. not bad not bad.

Holding sealink at 0.41 sen since March

Here's another Sealink-er...

add another 50% ytd. average 0.76.