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Sembmarine
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Vinchua
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23-Jul-2018 16:16
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Correct, they are far sighted. issue now is nowadays people are impatience and go for instant quick bucks. That is when Bbs take this opportunity to push down prices from weak and impatience holders... then with slight positive news, the price goes up again | ||||
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halleluyah
Supreme |
23-Jul-2018 16:16
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abang, agak tis bugger next q pun gone case wan....let it bbq till chow tar first....
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smoothsailing
Member |
23-Jul-2018 16:13
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https://research.sginvestors.io/2018/07/sembcorp-marine-cgs-cimb-research-2018-07-20.html In this CGS-CIMB research piece, it basically says altho SMM is having negatives now, these will turn positive in one or two quarters. With the big EPC jobs(FSO, FPSOs), revenue n profit recognition in slower cos more design n planning is needed, but briefing shows management is confident that numbers will get better. The analyst here expects numbers to possibly turn by 4Q instd of next year as management conservatively says. Thus those looking to gain exposure to Oil n Gas thru SMM may gamble that it is low enough to buy now if it is discounting its turnover n earnings 3mths-6mths ahead. After all, with most oil majors like Shell, BP, ENI, TOTAL all back to highs before oil collapsed(some exceeding those highs), and many drillers/engineers like Transocean, MODEC, ENSCO, Noble all up like 50%+, if SMM doesn' t screw up its business, it eventually will recover back there also. |
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KAMAL0883
Supreme |
23-Jul-2018 16:13
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prefer around 1.60 although the low side is 1.40++ | ||||
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ruanlai
Elite |
23-Jul-2018 16:10
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Sembcorp Marine (SMM SP): BUY Market Cap: US$3,003m | Average Daily Value: US$7.08m Last Traded Price: S$1.96 Price Target: S$2.50 (Upside 27.6%) (Prev S$2.90) Analyst Pei Hwa HO +65 6682 3714 [email protected] Look forward to big contracts
Maintain BUY and TP lowered to S$2.50, based on 2.1x FY18 P/BV (0.75SD below mean) in view of the higher risk premium and slower revenue ramp up. 2Q18 remains in the red given the loss from sale of West Rigel, and low activity levels, which should improve with higher contract wins next year. We have lowered our net profit forecast for FY18-19 from S$54-126m to S$16-64m. We still like Sembcorp Marine (SMM) as the pure proxy to the recovery in the O& G and O& M sectors, with strong order wins as a catalyst. This should lift SMM&rsquo s share price closer to our current TP. Where we differ: More bullish on SMM&rsquo s contract wins. Order wins, a critical leading indicator for earnings recovery, is set to rise in the next 12 months. We believe SMM&rsquo s strong order pipeline would translate into S$3bn or more in new orders in 2018, which may potentially include 1) a Gravifloat (SMM&rsquo s proprietary technology) modularised LNG exporting terminal for Poly-GCL at c.S$1bn 2) two large Compressed Gas Liquid carriers for SeaOne Caribbean valued at S$800m in total 3) Rosebank&rsquo s FPSO contract that could worth up to US$2bn. YTD, SMM has clinched S$730m in new orders. Reactivation of Sete Brasil rig orders. The landmark deal to sell nine jackup rigs to Borr Drilling, and the disposal of harsh environment semisubmersible rig West Rigel have eliminated the key concerns on SMM. The restructuring of customer Sete Brasil is also seemingly closer to a resolution, as Petrobras and Sete are reported to have struck a rig deal. Singapore rigbuilders are well-positioned to deliver two rigs each (which are in the advanced stages of construction) out of Sete Brasil&rsquo s existing 13 orders (c.S$1bn each). Valuation: Our target price of S$2.50 is based on 2.1x FY18 P/BV, pegged to 0.75SD below its mean valuation since 2004. SMM&rsquo s book value has already been written down after the massive S$609m provisions taken in FY15. |
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Vinchua
Member |
23-Jul-2018 16:08
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If people don&rsquo t panic sell, then buyers q low also can&rsquo t get... need to be patient | ||||
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Puppylearn
Senior |
23-Jul-2018 16:05
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Yaloh, see my bank share drop a lot. ...
No shopping $ to shop liao
This SM no dividend, coffee also 没 得 喝
Wait for Genting Singapore only
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trader25yr
Master |
23-Jul-2018 15:48
Yells: "I hate con man" |
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Sellers,, shortists, all come out to dump ... look today will close lowest ... then tomorrow morning sure force sell ... so lower ... so more force sell panic sell ... so lower ... so more force sell panic sell ... See SingTel StarHub YZJ OCBC UOB DBS ... all of them once start to go down in this time, will keep going down for several days ... |
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Puppylearn
Senior |
23-Jul-2018 15:48
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Down like this also said no to much....
Like news report sales is high than last year's , mean u want sales I give u sales, profit or loss not in my control, 😱 OMG
Turnover totally $2.81b compared with 1H 2017 at $1.39b
See loss a lot lol, like xx boss only give high turnover --- high loss not in he control
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Francisgohyc
Master |
23-Jul-2018 15:12
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Now price at $1.84 (drop 12 cents), maybe tomorrow buy some to keep for long term |
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Vinchua
Member |
23-Jul-2018 14:40
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This time no 1c dividend, hope for recovery next year and probably they issue special dividend similar to kepcorp . Must stay positive | ||||
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KAMAL0883
Supreme |
23-Jul-2018 14:21
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but YZJ is China company..... high risk
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trader25yr
Master |
23-Jul-2018 13:13
Yells: "I hate con man" |
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Yangzijiang Ship Building not only got dividend, got buyback some more, also lower PE and PB ... and is profitable ... so if into O& M, sell Sembmarine, buy YZJ |
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Puppylearn
Senior |
23-Jul-2018 12:52
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Got, twice a years
Normally one on April & one on August
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KAMAL0883
Supreme |
23-Jul-2018 12:33
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SM usually dun pay mid year div right ?
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wehuattogether88
Supreme |
23-Jul-2018 12:10
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By: PC Lee 23/07/18, 11:05 am SINGAPORE (July 23): To stay relevant, Sembcorp Marine is transforming itself to take on large scale EPC (engineering, procurement and construction) projects while offering nimble and compact solutions to customers, says CIMB-CGS Securities. It is also scouting for new technology and intellectual property to widen its service offering, preparing for the rig recovery, says CIMB-CGS, with the latest acquisition of Sevan Marine cylindrical rigs is a case in point. In a Friday report, analyst Lin Siew Khee says CIMB-CGS was right to expect a loss of $20 million-$40 million for 2Q18 as SembMarine posted loss of $55.6 million which included $27 million of one-off loss for the completion of West Rigel sale. Revenue rose 38% q-o-q to $1.6 billion due to stronger job flow in rigs and floaters as well as repairs and upgrades. EBIT margin losses narrowed from 6.7% in 4Q17 to 3.7% in 1Q18 and 1.6% in 2Q18 due to improvement in work volume amid a leaner cost environment. While management has guided for operating margin to be negative in FY18, and improve to positive in FY19, CIMB-CGS expects recognition of Karish floating production storage and offloading (FPSO), a sizeable order of $476 million, and high-margin Shell Vito floating production unit (FSU) could lift op margin by 4Q18. &ldquo We see EBIT margin of 0.4%/0.5% in FY18F/FY19F,&rdquo says Lim. Notable projects include Rosebank FPSO (US$1 billion or $1.36 billion), SeaOne two compressed liquid natural gas carriers (US$600 million) and Gravifloat (US$1 billion). Year to date, SembMarine has secured $730 million of orders or 37% of CIMB-CGS&rsquo s $2 billion order forecast for FY18F. Revenue from ship repair grew 59% q-o-q to $126 million in 2Q18. SembMarine repaired/upgraded a total of 158 ships in 1H18, with higher average revenue per vessel of $1.2 million vs $1 million in FY17. Management expects to see some uptick of repair in 2H18 with more LNG vessels and ballast water treatment system and gas scrubber jobs. Including West Rigel, SembMarine has fully monetised the inventory of 10 risky rigs. Balance sheet should gradually improve by 1Q19F with the remaining US$1 billion to be collected as these rigs are delivered. SembMarine has delivered five out of nine Borr Drilling rigs since 4Q17. Three more units will be delivered in 2H18F and another in 1Q19F. &ldquo Our FY18F EPS is cut 15% to include the loss from West Rigel sale,&rdquo says Lim, &ldquo Our target price of $2.52 is still based on 2.2 times CY18F book value.&rdquo As at 10.57am, shares in SembMarine are trading 10 cents lower at $1.86. |
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pnuklis
Master |
23-Jul-2018 11:42
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Down not so much today. Market is treating Sembcorp well. | ||||
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trader25yr
Master |
23-Jul-2018 11:16
Yells: "I hate con man" |
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Tomorrow, wed, thursday, friday, ... should start to see more force selling, which will trigger even more force selling as price drop some more ... and so more force sell, and price drop more, and so more force sell, and price drop more, and ... ... Shortist likely to short also, and instituition will be selling since next few quarters also no hope ... |
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Puppylearn
Senior |
23-Jul-2018 10:33
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OMG no dividend, coffee also don't have 😢 ...
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john_ric
Supreme |
23-Jul-2018 10:10
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banking on privatisation hope now. | ||||
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