[LEFT]0110 GMT 2 April [Dow Jones] Singapore’s O&M plays are higher, extending strong year-to-date gains, after Keppel Corp. (BN4.SG) and SembMarine (S51.SG) both announced fresh contract wins from repeat customers. While the contracts are likely boosting sentiment for the sector, signaling new-order inflow remains solid, they aren’t likely to result in analysts changing their earnings forecasts as the expectation of such contract wins are likely already included in projections. SembMarine says earlier today it landed a US$568 million contract to build a harsh-environment ultradeepwater semisubmersible drilling rig from North Atlantic Drilling, 74%-owned by Seadrill (SDRL); the rig will be an enhancement of the design for two previous Seadrill orders. Meanwhile, Keppel said on Monday it secured a US$205 million contract from Mexico’s Perforadora Central for a repeat jackup rig order. Keppel is up 1.4% at S$11.07 and its S$11.10 year-to-date high may offer a near-term cap; it is up 19.0% year-to-date.SembMarine is up 0.8% at S$5.35 and its S$5.46 year-to-date high may offer resistance near term; it is up 40.1% year-to-date.
[I]- Leslie Shaffer, Dow Jones Newswires[/I][/LEFT]