Monday, November 27, 2006
Technip surges on ENI, Saipem bid reports
By Sudip Kar-Gupta and Emelia SitholeFri Nov 24, 7:28 AM ET
Shares in French energy services company Technip (TECF.PA) surged on Friday on new reports that Italian oil major ENI (ENI.MI) could launch a 6-billion euro ($7.8-billion) bid to merge it with its Saipem subsidiary.
Such a merger would create the world's third-biggest oil services company after Halliburton Co. (NYSE:HAL - news) and Schlumberger (NYSE:SLB - news) but some industry analysts were skeptical of such a deal, seeing antitrust and political hurdles in France.
A Technip spokeswoman said the company had no contact with either Italian company, while officials at ENI could not immediately be reached for comment.
Technip gained as much as 14.5 percent before dropping back after it denied any contact between the firms. The shares were up 9.2 percent at 56.50 euros at 1027 GMT, valuing the company at 6 billion euros.
The stock has risen more than 10 percent so far this year, with most gains booked in the past three weeks on persistent speculation of an ENI bid but has underperformed bigger rival Saipem by 19 percent.
Saipem, which is already in French energy services after buying Bouygues Offshore in 2002, traded down 0.97 percent at 18.98 euros. Eni fell 0.53 percent to 24.61 euros.
French newspaper La Tribune said ENI was mulling a bid for Technip and that the bid could be submitted early next week. The paper said ENI may want to merge Technip with Saipem (SPMI.MI), in which ENI has a 43 percent stake.
Technip and Saipem are involved in building pipelines, petrochemical plants and LNG terminals.
Some analysts are skeptical about a bid, saying Saipem is already busy integrating Snamprogetti, the oil services business it bought from another ENI unit, Snam, earlier this year and that customers might not be happy with a reduction of competition in the already tight oil services market.
"I'm not sure that from an industrial point of view such a deal would make sense because both companies operate in the same fields (contracting for oil and gas industries) and there won't be any great synergies," KBC Securities analyst Antoine Leurent said.
Leurent also saw problems for ENI or Saipem retaining Technip's key personnel amid a severe shortage of qualified engineers and project managers in a booming gas and oil services industry.
It might also face political hurdles in France where the government has been keen to protect "strategic" industries in the energy and utilities sectors.
Other analysts think it could be a good time for Saipem to buy because the industry is seen to be on the upturn in the business cycle and Technip's shares have shown some weakness after experiencing problems delivering on some big projects.
Les Echos said the issue of a possible Saipem bid for Technip would be discussed at a Franco-Italian summit on Friday, where the two countries may debate a possible tie up between airlines Air France KLM (AIRF.PA) and Alitalia (AZPIa.MI).
Asked whether there were fears at Technip of a possible takeover from Saipem, the Technip spokeswoman replied: "That is a purely theoretical question."
Last Friday Technip Chairman and Chief Executive Daniel Valot was cool on a tie-up with Saipem, following earlier speculation. "Personally, it looks to me like a bizarre idea," Valot told Reuters.
The bid speculation has swirled as Valot prepares to retire next April after seven years at the helm of the company and after the company issued two profit warnings earlier this year.
Valot conceded last week that he considered Technip a potential takeover target due to its free float of over 80 percent but said with recent spikes in its share price, the price tag might deter potential bidders.
The oil services industry is currently going through a boom on the back of a resurgence in spending by oil majors on exploration and production, spurred on by high oil prices.
Patut la diorang dok bising2 tadi kt office. Erm to think of it, do u think the french wud give up their company to the italians? I think Not. but who knows, in a competitive industry like oil n gas..everything is possible beb. But whatever it is, i dun mind working with any french or italians pun. But i prefer italian cars la, Ferrari ker, Lamborghini ker heheh. Let say betul la rumours nie, Jgn diorang kacau salary n benefits gua dah lerr..
Lagi penting, starting esok till thursday, gua kena handle TC meetings..kena buat betul2 nie. Cuak pun ader gak isk isk....saper kater kerja nie senang beb?? Susah, tapi it's part of life..so kena try da best, betul x? =)
Sunday, November 26, 2006
Saturday, November 18, 2006
Erm..where did i go last week eih?
Oh Last saturday, mama wanted to do a makan2 for kawan2 Alan from UIAM. Dah nak buat makan2, i invited some of my friends. Since it was a last minute notice, most of my friends didn't come, diorang pun byk open house nak attend. Hafez, Halim and Zack came. Kawan2 Alan jgn cakap aa..i think my house penuh betul, ajak student dtg open house, so ader la 6 buah kereta datang hehe. It reminds me mase belajar dulu, kalau ader member2 yg buat open house..sure 7-8 buah keta yg pegi. Makan free sehh, saper xnak pegi..
As for my friends, Hafez..tahun depan kawin. Halim plak, dengar2 citer tahun depan kawin. Zack, in 2 years time kawin. Woohoo..Topik PANAS hahaha =P Takpe2, i'm happy for them la. Zack and Halim were my housemates mase kt rumah serdang dulu. So kitorang mmg rapat aa. I do feel cepat betul mase berlalu, it was like..macam baru jer kitorang abis belajar, tapi skang nie sumer dah kerja and diorang dah nak kawin dah hahaha. Later dat day, we went to open house kt rumah gf Halim @Setapak. Comel orang nyer..bertuah si Halim tue hehe. Gf Zack plak org Kedah, ader Zack tunjuk gambar ari tue..
Sunday - i went to watch "The ODd Couple" theater @KLPAC. Mr.Firdaus and Ms.Shiqin joined along. It was hillarious la. Casts were BErnie Chan (The pillow talk show presenter), Samantha Schubert (Familiar face la, tp lame dier xberlakon), Elaine Daly (The former miss Malaysia, yep She's HOT hehe)..others xkenal hehe. It was basically story of two friends, one was opposite of another tried to live in da same house. Flo was obsessive compulsive and Olive was an untidy person. So u can imagine kelam kabut rumah tue jadi. I really like da two indian guys, they were funny as hell !! These two indian guys were da odd couple's neighbour. Just came from india, u know how funny language mis-interpretation could be kan hehe..
YEsterday, went to watch CAsino Royale @Summit USJ. Susah betul nak buat reservation kat OU. End up, ajak Hafez..then pegi tgk kat SUmmit USJ. xder la ramai org sangat. Da story, erm action packed. Byk adegan2 kejam hehe. I do think movie James Bond kali nie lain sket. 1st, da opening scene, there was NO 'Bond on the bed' scene. It was replaced by a scene where James Bond killing someone. Something new sehh hehe =P 2nd-Daniel Craig as da James Bond?? I still think, macam xmasuk gak aa. Maybe dari zaman dulu, dah ditonjolkan James Bond mesti handsome, charming mcm Sean Connery & Pierce Brosnan. Daniel Craig?? For da "Controlled Love Scene", it was like watching Arnold Schwarzenegger making Love dohh argh kurang menyenangkan!!.. Since da movie was rated "U"..so i didn't get to see the HOT Catherine Murino going out from the water in the green Bikini. Da scene was cut. Argh tensen2!! Hey that's what BOND movies were all about, betul x? hehe =P
Oh yer, da Casino Royale theme song best !! "You know my Name" by Chris Cornell of Audioslave. Suara serak2 basah, dgn Rock punyer riff..mmg layan aa
As for dis weekend, gua menyangap kt rumah..isk isk. Kena carik hobi baru la camnie =(
Tuesday, November 07, 2006
Macam biasa, diorang dah belanje gua mase birthday gua ari tue. So this time around, gua kena la belanje plak kan. Aleem. Happy Birthday. Semoga Panjang Umur, Murah Rezeki =)
I had HAlf Lobster, Half Steak. Cream Caramel for desert. Mmg layan beb !!!
Erm ..Birthday gua tahun depan, nak suruh diorang belanje ape plak eih?? Uish, tahun depan dah LATE TWENTIES dohh hahaha =P
Went to see Frankenstein in Love @KLPAC last week, with Ms.Amy n Ms.Elly.
Anyway, da play was about a romantic triangle between El Coco (Da revolution Leader played by Rashid Salleh), Veronique (Frankenstein's creature played by Melissa Maureen) and Dr. Frankenstein himself (Played by a mat salleh, who i didn't know his name). As u all know (sure korang penah tengok da frankenstein monster kaler hijau tue kan), Dr.Frankesntein was da mad doctor who creates zombie out of human bodies, or he created monsters??. Da play was set in a situation where, Dr.Frankenstein succeeded in creating a race of half-dead creatures. This half-dead creatures had the ability to think and behave like normal people plak tue. And yet these creature knew that, they had no place in the real world.
At da same time, there was a Revolution in da country. El Coco and his loyal servant, Cockatoo overthrew the current president, Garcia Perez (played by Patrick Teoh). Da scene took place in Dr.Frankenstein's palace. They also discovered some horror n weird monsters in it. A sudden adrenaline rush (i.e Love at First Sight) occurred when El Coco set eyes on Veronique, da monster cum zombie. Oh yer, El Coco was actually Dr.Frankenstein best creation. He looked like a real human being la, not like other scary zombies. BUt still, El Coco preferred human flesh rather than bread.
Dr.Frankenstein being da mad doctor, killed El Coco because he wanted to gain power from da revolution. He also forced VEronique to marry him, da reason was..erm any zombie could not be accepted in da real world-this includes VEronique la. Plus Frankenstein loved Veronique. Seperti biasa, hero mane bleh mati awal beb hehe. El Coco managed to survive da skin-peeled torture. Err, he managed to find a tailor la. El Coco instructed da tailor to kill people, peeled their skin to replace his skin. Scary kan??
As for da end of da story, macam biasa..da revenge scene la. Equipped with his new skins, El Coco crashed into Frankenstein wedding. He killed Frankenstein..and El Coco and VEronique lived happily ever after. Arakian, macam tue la kisah nye hehe =P
Teater yg agak berat. Dun worry, gua penah tgk teater yg tak paham langsung-nie kirer ok lagi la. Mood yg menyeramkan-October kan ader perayaan Helloween. My advice-when it comes to theater2 yg berat nie, i mean any adaptations from books/movies ker, please do some homework la sket. Utk mengurangkan situasi "LOST" bila tengok pementasan nanti..hehe
Saturday, November 04, 2006
Hari Raya was da same for me la, i guess. On da 1st Raya, berHari Raya kt KL jer. Went to Solat Hari Raya kt Masjid. Since most of da people in Taman Ehsan went "Balik Kampung", so Raya Prayer was almost like semayang kt MAsjid Istiqlal, Jakarta hehe. Balik semayang, makan2. As usual, ader la Lontong, Nasi himpit, Kuah Kacang, Rendang Ayam. Oh yer mama cook somethin different sket Raya kali nie. Ader NASI BERIANI dgn ayam goreng berempah. Sedap woo !!! Since opah mmg tinggal dgn kitorang, so all my uncles/aunties/cousins so mmg akan beraya @my house every pagi raya. Ayong brought Lemang, yg lain2 pun bawak makanan. So meriah aa raya. Oh went to kubur, menziarahi pusara Arwah Alang, one of my uncle. After beraya kt rumah, went to rumah Uchu. Dekat jer, kt taman Ehsan gak. Kt rumah Uchu, ader NAsi Tomato beb...
Petang tue, baru kitorang balik kampung, Kg NErasau, Rembau, Negeri. Sampai pun dah malam, sbb gerak lambat. Da trip was smooth la, da traffic wasn't bad afterall - kater semua org dah balik kampung awal.
2nd Hari Raya - Dis year, balik kampung sekejap jer. Sehari jer. So on da 2nd hari raya, pegi beraya la rumah Wan Darek. Oh yer, kali nie, dah 2nd time kena bagi duit raya kt bebudak kecik. i've prepared 50 Green Packets for dis year. Habis sehh!! Balik jer kampung, anak2 buah la, cousins la..ramai betul diorang nie hehe. Diorang la yg gembira sakan time raya sbb dapat duit raya. Tahun depan kena prepare lebih sket Green packets. Tgh hari tue, pegi raya rumah Atuk Pulau. I think ader 7 buah keta kot. Lepas tue kitorang pegi PD plak, raya rumah Mak Induk. Kirer makan besar aa. MAk Long and Mak Lang masak, dgn sambal udang, Talapia kolam yg digoreng dgn kunyit. Seronok betul makan hehe. Malam tue gak balik KL, abah pun dah kerje balik skang nie..so by da next day, abah kena pegi office. Malam tue balik KL, da traffic was bad. Kitorang tak ikut highway, kitorang ikut Jalan Nilai, tembus KLIA..then baru masuk Highway balik, kuar Exit Damansara. 2 jam lebih gak aa dalam keta.
3rd Hari Raya - i was back in KL. Mula aa start menyangap haha =P Semua org still kt kampung lagi, gua dah ader kat KL. Lepak rumah jer..
4th HAri Raya - Ayong buat open house dkt rumah dier, kt Bangi. Semua cousins ader, apart from Family Uda, diorang pegi bercuti kt Genting. oh lepas tue kitorang try swimming pool yg ayong baru buat. Aper lagi, semua kasi terjun hahaha
Weekend - uda plak buat open house, kt Wangsa Maju. So beraya rumah uda plak la.
Oh mase sangap2 tue, byk melepak dgn Zahir. Kitorang melepak kt HArtamas. Yg best, xramai org sehh. Sempat jammin dgn Zahir n Fbi kt Setiawangsa on saturday. Uish lame betul dah xjammin, rase pelik betul. Main jer aper yg patut, nak kasi lepas gian.
So best x Hari Raya korang?? MIne was quite best gak aa. Dapat jumpe cousin2, catch-up stories dgn sedara mara, jumpe anak2 buah yg comel2, tgk betapa excited nyer diorang dapat Duit Raya, Bermaaf-maafan dgn family, saudara mara...Mende2 nie, yg buat Raya nie best..Betul x? =P
KOrang xkan xbuat open house kot?? NAnti jemput gua datang yer =)