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SembCorp Marine- The new Frontier.
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Chagatai
Veteran |
17-Jul-2021 16:17
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Well I wont say all vested are crying babies. We just want a fair equitable logically calculated outcome. Under the present circumstances, I think babies randomly would have picked a different solution then to Rights issue again. Rights is Wrong | ||||
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newbie19
Supreme |
17-Jul-2021 15:44
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Exactly, this is All of us thought of striking Gold during the halt BUT it was a BOMB instead!
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SembMarineLong
Veteran |
17-Jul-2021 15:32
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I feel you newbie19, I did the same. During the dip from 20 cents to 19.5 I added 80K shares. When the halt begin, most ppl thought merger was a good thing till they came out with another rights. Lots of longist got outplayed badly.
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newbie19
Supreme |
17-Jul-2021 14:52
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Yes, cheated miserably....i bought 500K of SMM at 19.8cts just 3 or 2 days before the second rights issue.... Caught me off guard!!!!! Shit. Anyway, it`s unethical....sold 300K at a lost of 14cts... still holding 200K....
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newbie19
Supreme |
17-Jul-2021 14:45
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ahbui8
Master |
17-Jul-2021 14:19
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Anyway I' m not those crying baby blaming other, In the past, I do have total loss on 2 SG China stock China milk and celestial, the most recent is Ezion. This 3 total losses I accepted for my poor vision and judgment. But for SM share, I totally feel cheated, it' s was a man made rout and most unacceptable is by made by our State fund. | ||||
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ahbui8
Master |
17-Jul-2021 14:02
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Singapore SGX market is really CMI, now even State fund also doing this type of despicable thing. No wonder can' t attract any major IPO and company keep delisting! Hard lesson learn, invest in US or HK market better. |
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ADS2200
Veteran |
17-Jul-2021 13:10
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Sutiono, sorry to interject. You can think like that, but when you are paid to be the ceo, you have to think differently - what and how to be in the competition. Frankly I did not want to comment anymore. Hearing all the comments sadden my heart. I am sure God also feel the same. Sias has raised the concerns of the minority shareholder. Many are the cries of investors. You can joke about it " even God can' t help!" I like the story of Moses, The heartless Pharaoh still refused to free the Israelite slaves. So God, brought about one last plague, which was so terrible that it was certain to persuade Pharaoh to let his slaves go.That night, God sent the angel of death to kill the firstborn sons of the Egyptians. God told Moses to order the Israelite families to sacrifice a lamb and smear the blood on the door of their houses. In this way the angel would know to ' pass over' the houses of the Israelites. This is why the festival commemorating the escape from Egypt is known as Passover. We are in the midst of covid-19 which is also known as plague. The evil that one sows, he shall reap. Ill-gotten gain will not go with you when you leave the earth. Many are the cries of those suffering because of some called it cunning/crafty man. Certainly not ingenious and resourceful thinking. Like you said, if temasek has such dishonest, unprofessional, unconscionable and unethical people around the days are numbered. God is watching.
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ICXGOLD
Master |
17-Jul-2021 12:17
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A realistic outcome is that the share will head towards 8 cents, and a mandatory offer in the range of 12-15 cents | ||||
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sutiono
Veteran |
17-Jul-2021 11:56
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We are no longer competitive , simple reason !
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Abe2021
Veteran |
17-Jul-2021 11:39
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Alfred wrote to ST forum today. Many are asking who are the planners for the merger? When you sit on all 3 entities, TH, KC and SMM not forgetting DBS - is this how you carried out the merger? You are thinking. Not smart, you don' t pay anyone to come out with such plan. Not thinking hard enough to look for answer. Sloppy ... you need to put your heads together. No need PHD to call for rights !!! That' s why Alfred is writing to forum - Temasek Sias " With Sembmarine' s net debt to equity ratio at 0.74 times, Sias questioned if Sembmarine had sought to raise funds through other means like it had done for the S$500 million the group previously raised through sustainability-linked financial facilities. In relation to the protection of minority shareholders, Sias cited the tepid response to the earlier S$2.1 billion rights issue noting that only 18 per cent of the total rights issue had been taken up by minority shareholders. The association then questioned if the group had evaluated why the response from them was as such, and if anything would be done differently with the latest proposed rights issue. Also, the association asked if the company would be taking any steps to protect the rights of minority shareholders." I refer to the article, " Temasek' s 24.5% shareholder return highest since 2010" (July 14). A ONE-YEAR RETURN OF 24.5 PER CENT SOUNDS IMPRESSIVE UNTIL ONE REALISES THAT, OVER THE SAME ONE-YEAR PERIOD TO MARCH 31, THE MSCI WORLD INDEX WENT UP BY ABOUT 45 PER CENT. THE WORLD MARKETS HAVE RECOVERED MASSIVELY OVER THE PAST YEAR OR SO AND, AS THEY SAY, A RISING TIDE LIFTS ALL BOATS. What was also interesting was that Temasek' s total shareholder return for the 10 years to end-March last year was 5 per cent per annum. Over this same period, the MSCI World Index went up by an average of about 7 per cent per annum. The questions I would like to ask are: " How well has Temasek really been doing over the years? Is it reasonable to expect Temasek to at least beat the relevant market indices over the long run?" I hope there can be more public discourse on these questions. Alfred Chan Hock Yuen |
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newbie19
Supreme |
17-Jul-2021 11:16
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I agree with you....AS of now...I can`t even see some light at the end of tunnel...... Even God can`t even help!!
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Abe2021
Veteran |
17-Jul-2021 11:04
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Would any major shareholder, not question the management what they are doing .... 9 months almost no contracts. Manfred, they paid highly to do their job. LKY said if they cannot perform, replace someone who is ready to steer the ship. This is what China is doing during this time of covid-19, evryone is cracking the brain to make sure covid-19 is at bay. HK law makers refused to allow the travel bubble to get start with us. CEO wong must know it, you can sit down after the last rights issue and do nothing. Accountability !!! No contract win and you are taking salary !!!! Moving on to the group' s strategy and operations, the association said that the rights issuance could allow Sembmarine to fulfil existing commitments and win new projects, augment technological capabilities and maintain the group' s competitive edge and accelerate its pivot into high-growth renewable and clean energy segments.
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Abe2021
Veteran |
17-Jul-2021 10:52
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Sorry Manfred, so many comments. It is Etilatrop " None of the above is likely to happen. Most likely SMM would be stuck in status quo and continue to bleed indefinitely. The timing and pricing of the rights is pure idiocy, and the planners in SMM or TH should be fired." Agreed. It is pure idiocy. I have no doubt that SMM and KOM will merge. In fact I pm Better how are they going the raise fund. No right mind will come for another rights issue within 9 months. " As such, Sias asked for an update on Sembmarine' s financial position and operating conditions. The association also sought to understand the risks and potential risks that the group may face that may have given cause for the proposed rights issuance. With Sembmarine' s net debt to equity ratio at 0.74 times, Sias questioned if Sembmarine had sought to raise funds through other means like it had done for the S$500 million the group previously raised through sustainability-linked financial facilities. With Temasek as the main shareholder, there are many ways they can raise funds. Sias " In relation to the protection of minority shareholders, Sias cited the tepid response to the earlier S$2.1 billion rights issue noting that only 18 per cent of the total rights issue had been taken up by minority shareholders. The association then questioned if the group had evaluated why the response from them was as such, and if anything would be done differently with the latest proposed rights issue. Also, the association asked if the company would be taking any steps to protect the rights of minority shareholders." The many failed bond in sg, someone said to me it is alarming ..... the one that underwritten all this should be questioned. Alas, nothing has been done. Sias " Noting that other offshore and marine (O& M) players have not gone through this rights issue, Sias questioned the necessity and criticality of this rights issue. Sias also questioned the group' s basis for its rights issue price of S$0.08 per share and queried the total rights proceeds and utilisation of the S$1.5 billion raised." Sias is questioning how the price of rights at S$0.08 per share is underwritten ? Thank Sias for the query SGX should measure up as a SG Regulator.
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Chagatai
Veteran |
17-Jul-2021 10:50
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For many Only hope is to average down below massively 8c and hope for 20c to almost break even | ||||
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newbie19
Supreme |
17-Jul-2021 09:59
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All i can say is SMM is very dishonourably,unprofessional,unconscionable and unethical.....NOT MORALLY CORRECT. Less than a year, another rights issue of 8cts!!!! With slightly more than $1B in cash and assets, what constitutes a second rights issues!! It will come a day it will plunge into the lake to less than 10cts. |
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MANFREDTMK
Master |
17-Jul-2021 09:38
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Hi Abe, since when I said that they should be fired. Everyone has their family to feed and people do make mistakes at times. I said they should rectify their mistake because $1b of savings are wiped off the market even before the Rights issue of $1.5b. But since many of you have pointed out the deal is irreversible, then I can only hope that management should prioritize their efforts towards preserving shareholders wealth above all considerations instead of letting the company be exploited as a saviour for other companies. Charity begins at home, besides SM is not rich and above all shareholders should not take the brunts for such rescue operations.
Meanwhile, I think it's best to let BB completes what needed to be done first and God will do the rest. I am cautiously optimistic of a favourable outcome in December.
Hope this message clarifies rather than obscure this important crisis.
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better
Elite |
17-Jul-2021 02:19
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Migrant workers from India to enter Singapore in ' calibrated manner' through pilot programme07 Jul 2021 09:14PM(Updated: 08 Jul 2021 02:15PM)
SINGAPORE: Migrant workers from India will be brought into Singapore starting July under a pilot programme led by some companies in the construction, marine and process sectors. This will be done on a " small scale" and in a " calibrated manner" , the business associations representing the industries said on Wednesday (Jul 7). " The end-to-end process focuses on proactive testing of the workers through a COVID-19 testing regime over a 14-day period at specified on-boarding facilities at source country before departure for Singapore," said a media statement by the business associations.
They are the Singapore Contractors Association Ltd (SCAL), Association of Singapore Marine Industries (ASMI) and Association of Process Industry (ASPRI). After arriving in Singapore, the workers are still required to serve stay-home notice and adhere to prevailing health protocols and safe management measures. With the new process, employers have to pay about S$2,000 to S$3,000 more per worker, in addition to quarantine costs in Singapore, a spokesman for the associations told CNA. " A few hundred workers" from India will be involved in the pilot for the marine and construction sectors, said the spokesman.
It comes after a similar trial involving a few batches of workers entering from Malaysia last month to ease the labour crunch in the marine sector. There were no COVID-19 cases among the few hundred workers involved in the pilot so far, said the associations." If successful, this model will be used to facilitate a steady inflow of workers in a safe and secure manner." Since the COVID-19 pandemic, the construction, marine and process sectors have been affected by restrictions on the entry of migrant workers from several countries.The business associations said that since the end of 2019, the number of work permit holders in the construction, marine and process sectors has fallen by more than 60,000, or more than 15 per cent. " This has resulted in project delays and significant labour cost increase, which in turn affect the viability of businesses," the associations said. |
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etilatrop
Member |
17-Jul-2021 01:37
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If this is true, then SMM, KOM or SMM+KOM are doomed now and after. Then it can only be deduced that SMM will be only used as a dumping ground (as such is its only value), first to save SCI, and now to benefit KC. It can be further deduced that a takeover offer (if any) would be extremely small, perhaps a few cents. Afterall, why pay more for a trashbin? Especially, when SMM SHs will most likely be milked dry after this round of rights issue and have no more value anymore? When the captain of a ship wants a ship to sink, no other passenger on board can possibly stop it. imho, come to think of it, KC' s hundred days was a cry for help. But instead of assistance or subsidies etc, the consensus was to amputate KOM, and SMM is the purposed bin for it. It would seem that the strategy for SG as a marine sector is abandoned?
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TA_Expert
Supreme |
17-Jul-2021 00:36
Yells: "The World has changed" |
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For those who still believe in this company, wait for 8 cents. Some people are still dreaming that TH will privatise new entity at 40 cents. 
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