August 29, 2016 10:42 AM ET

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Company Overview of KS Energy Limited

Company Overview

KS Energy Limited, an investment holding company, operates as an integrated oilfield supply and services provider primarily to the oil and gas, marine, and petrochemical industries worldwide. It operates through three segments: Drilling, Engineering, and Distribution. The company offers capital equipment charter, drilling and rig management, and specialized engineering and fabrication services to the oil and gas industry, as well as engineering design and project management services, and other oil and gas related services. It also supplies components and accessories, and instrumentation and process flow solutions; capital equipment, such as offshore piling hammers and cranes; industrial mate...

19 Jurong Port Road

Singapore,  619093

Singapore

Founded in 1974

Phone:

65 6577 4600

Fax:

65 6577 4618

Key Executives for KS Energy Limited

KS Energy Limited does not have any Key Executives recorded.

KS Energy Limited Key Developments

KS Energy Limited Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Reports Impairments for the Second Quarter Ended June 30, 2016

KS Energy Limited reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported consolidated revenue was SGD 12.9 million in second quarter of 2016, a decrease of SGD 7.9 million, or 38.2%, below that of SGD 20.8 million reported for the three months ended 30 June 2015 mainly due to lower revenue from the Drilling business following the completion of some charter contracts. Consolidated loss after tax was SGD 35.2 million for second quarter of 2016 compared to consolidated loss after tax of SGD 29.6 million reported for second quarter of 2015. The larger loss after tax for second quarter of 2016 was mainly due to the SGD 13.1 million loss recorded on the disposal of plant and equipment during the quarter and a negative shift in results from joint ventures despite the lower costs in second quarter of 2016 compared to second quarter of 2015. The result attributable to the owners of the Group slipped from a loss of SGD 25.2 million or 4.92 cents per diluted share in second quarter of 2015 to a loss of SGD 31.5 million or 6.10 cents per diluted share in second quarter of 2016. Loss from operating activities was SGD 26.511 million against SGD 25.816 million a year ago. Loss before tax was SGD 34.997 million against SGD 30.118 million a year ago. For the six months, the company reported consolidated revenue was SGD 21.7 million in six months of 2016, a decrease of SGD 34.2 million, or 61.2%, below that of SGD 55.9 million reported for the six months ended 30 June 2015 mainly due to the lower revenue from the Drilling business following the completion of some charter contracts. Consolidated loss after tax was SGD 63.5 million for six months of 2016 compared to consolidated loss after tax of SGD 39.5 million reported for six months of 2015. The loss after tax for six months of 2016 was mainly due to the SGD 13.1 million loss recorded on the disposal of plant and equipment during the period and a negative shift in results from joint ventures. The result attributable to the owners of the Group slipped from a loss of SGD 33.7 million or 6.57 cents per diluted share in six months of 2015 to a loss of SGD 55.2 million or 10.70 cents per diluted share in six months of 2016. Operating activities generated a net cash outflow of SGD 5.7 million for the six months ended 30 June 2016 against cash flows generated from operating activities of SGD 14.609 million a year ago. Loss from operating activities was SGD 44.539 million against SGD 35.522 million a year ago. Loss before tax was SGD 62.976 million against SGD 39.958 million a year ago. Payments for purchase of plant and equipment were SGD 0.859 million against SGD 4.715 million a year ago. Payments for purchase of intangible assets were SGD 0.009 million against SGD 0.058 million a year ago. For the quarter, the company reported plant and equipment written off of SGD 1,000.

KS Energy Limited Announces Management Changes

The Board of Directors of KS Energy Limited announced the appointment of Ms. Lynn Wan Tiew Leng and Mr. Lai Kuan Loong, Victor as Secretaries of the company in place of Ms. Kim Yi Hwa and Ms. Susie Low Geok Eng with effect from 8 August 2016.

KS Energy Limited Reports Unaudited Group Earnings Results for the First Quarter Ended March 31, 2016

KS Energy Limited reported unaudited Group earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported revenue of SGD 8,849,000 compared to SGD 35,091,000 a year ago. results from operating activities was SGD 18,027,000 compared to SGD 9,706,000 a year ago. Loss before income tax was SGD 27,977,000 compared to SGD 9,840,000 a year ago. Loss for the period was SGD 28,213,000 compared to SGD 9,912,000 a year ago. Loss attributable to the owners of the company was SGD 23,734,000 compared to SGD 8,488,000 a year ago. Net cash flow from operating activities was SGD 2,451,000 compared to SGD 23,674,000 a year ago. Payments for purchase of plant and equipment was SGD 449,000 compared to SGD 4,106,000 a year ago. Basic and diluted loss per share was 4.60 cents compared to 1.65 cents a year ago.

Recent Private Companies Transactions

Type
Date
Target
Private Placement
June 24, 2016
KS Drilling Pte Ltd.
Private Placement
September 21, 2015
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