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Sembmarine_Green is the new gold_a better future
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PHInsider63
Veteran |
28-Feb-2022 09:37
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Thanks.
I guess this is a constructive platform where polars of views can be interchanged and interfaced without prejudice and or personal attacks. I have big position in SM albeit at high price in 8 series. Yes I may look to load up a little more. Your views are valued.
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chart_expert123
Master |
28-Feb-2022 09:37
Yells: "Only buy stock with revenue or net cash flow growth!!!!" |
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how to be better if there is no order book? 1Bil +300M repair job VS 2021 revenue 1.8Bil. market give you chance to run, better run lah.
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MANFREDTMK
Master |
28-Feb-2022 09:36
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Your joy and relief will be short-lived because the sellers are those who are naive. Once the dust settles, let's see what happens in March.
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ckmpd1
Supreme |
28-Feb-2022 09:34
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If you are convinced by what you said, you shd be buying at 8.3c now
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PHInsider63
Veteran |
28-Feb-2022 09:30
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When they posted (significantly better?, I am sure they seek clearance from TH. Post-rights, TH has become the largest coffer and stakeholder.
I am suspecting a final flushing out process going on now. All things augur well for SM at this moment money, macro, manpower, merger momentum. It probably lacks the contract which I think should be coming anytime soon.
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ckmpd1
Supreme |
28-Feb-2022 09:25
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You are very wise and discerning.  Unlike some forumners here, you are not easily fooled by mgmt' s sweet talk.  
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weekaykee
Master |
28-Feb-2022 09:20
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The management has been positive on lots of things over the past 2 years including 20 tenders they have participated in, raising hopes on the large number of contracts they are going to win. They even painted a picture of losses being much lesser than what we have seen.  And yes, the market has spoken today. They do not quite believe what the management is saying.
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desmodeus
Veteran |
27-Feb-2022 22:58
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no respectable board will put heads on the chopping board to give a "significantly better" guidance. i agree with you that all that can be provided were frontloaded. wait for reversals in the new fy
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assetbase
Senior |
27-Feb-2022 22:41
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Say whatever you like,  SCM management mentioned that 2022 will be significantly better than 2021.They never even committed to saying that they will return to black. The right issue was completed in aug 2021 and till now the share price is still 0.085 .6 months have lapsed, are we still consoling ourselves that the good show is akan datang ?.. This is a significant opportunity cost to any investors let alone the BB. The SCM management is playing delaying tactics for reasons best known to themselves. Tomorrow is the share price holds is because DJ gone up 800+ points. Don' t hope for the new share entities from SCM and KEPPEL merger to pay for the 500 millions to keppel corp otherwise you will be more disappointed  because it makes no sense as the new entity is not obligated to pay for SCM. |
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PHInsider63
Veteran |
27-Feb-2022 21:48
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Good point
Huge chunk of cost was frontloaded. I have used almost the same value to deduce the bottom line assuming the project break even. Hope you understand the arithmetic of it. 400-500m bottom line is realistic. The management is very positive of the outlook which is very rare they said that. Anyway, we will see from tomorrow how this translates to the share price. Remember, nobody can deny, some invisible hands had been collecting in 8 series range, when they pump it up to 0.11, their price will be average about 9 to 10. This was probably the reasons why they need such a Low price base for forthcoming action. 8 series ought to be in history books
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Chagataii
Veteran |
27-Feb-2022 21:42
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SCM and dividends is like fire and water mixing well together to form smoke | ||||
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better
Elite |
27-Feb-2022 21:26
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Of course it is beyond you. You have been listening to Snake oil salesman Loh Chin Hwa for too long. Keppel OM made a huge loss also can say it is EBITDA positive. Keppel corp is going to suffer in 2022 as their key property markets like China and Vietnam have been in a tailspin since Q4 last year. Shares of China and Vietnam property developers like Vinhomes, Country Garden and Evergrande have fallen by more than 30% over the past few months.  Think KC would be spared, think again. A matter of time. KC would correct or tank by Q1 update. SCM' s mgt has always been very conservative, too conservative in my opinion and not willing to make ANY forward-looking statement. So, when they dare to say a " significant improvement in H1 2022" , you know that something big is coming. As explained in the webcast, the cost for the completion of the projects has been provided, so any revenue recognition will be adding on to profit. Keppel OM had squandered their good fortune in Floatel, Kris Energy etc (About $1.5 billion gone) and have got $3 billion worth of unsold rigs collecting dust at its rapidly aging yard (just look at all the media pictures of Keppel' s yard).  Sembmarine, on the other hand, has used its fortune from the good years to build its state-of-the-art Tuas Boulevard yard and the EJA yard (largest and most advanced yard in Brazil) to prepare itself for the next offshore boom SCM will get the better hand in the merger because Temasek owns 55% of SCM and only 20% of KC, period. Also, any merger will have to get the approval of SCM' s shareholders ex Temasek. So it is possible that Temasek might sweeten the deal for SCM minority shareholders with a special dividend from its close to $2 billion cash hoard by mid-year.
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ckmpd1
Supreme |
27-Feb-2022 20:56
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in the FY 2021 Financial Report released on 25 Feb 2022, SCM declared that  it expects SCM' s FY 2022 financial performance to be significantly better than FY 2021.  How someone can interprete such a generic statement to a profit of $400m to $500m is beyond me
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ckmpd1
Supreme |
27-Feb-2022 20:43
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Outlook 
 
20. In FY2022, the Group will need to complete and deliver a total of 12 existing projects. Provisions for costs to complete these projects have already been made in FY2021. The Group is also on track to conclude negotiations on project completion terms with its key customers. Barring any unforeseen events, this should contribute positively to the Group&rsquo s results in 1H2022. 
 
21. The industry outlook for the oil & gas, renewables and other green solutions continues to improve. It is important for the Group to convert its orders pipeline into firm contracts on a timely basis in FY2022. 
 
22. Taking the above factors into account, the Group expects its financial performance in FY2022 to be significantly better than FY2021
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naoshingo
Elite |
27-Feb-2022 20:26
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If it is true, I hope rights issue shareholders get preferential treatment because we trusted the management early on and really put money into SM bank account. | ||||
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weekaykee
Master |
27-Feb-2022 20:08
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400-500m profit for 2022?????  It would have been trading at 30 cts if the BBs believed your fairy tale.
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MANFREDTMK
Master |
27-Feb-2022 19:35
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Much appreciated bro, great analysis and foresight. Hope some will convert, make money and celebrate together with the end of this arduous journey. Life had been very tough for everyone over the last one year, let's close the chapter with a bang. Cheers
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PHInsider63
Veteran |
27-Feb-2022 18:39
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I am here not to take sides or engage in any arguments.
I am here to state objective pov. Facts and Takeaways of FY2021 Results: 1. Company frontloaded all costs in the forthcoming execution of 2022 projects which means all delivered sales will be booked 100% without significant costs. 2. Manpower issue resolved and more projects to be delivered and turn into cash. 3. Macro outlook is very positive for Company. Expect more contract wins soon. 4. Nav per share is 0.13 (under-disclosed after taking in huge chunk of costs) even at 0.13, fair value should be at least 0.11 to 0.12. 5. Expect to book $400 to $500m bottom line this year. Management has never been so rosy for a long long while. 6. Cash flow problem in history books. What to expect next: 1. Merger with KOM with the formation of a new entity and this Newco will issue new shares. Deliverables potentially based on bottom line upon completion. This favours SM as 2022 will have huge profit. 2. Merger with KOM May not need cash upfront from both parties as new equity issuance will be the basis. We may even expect some dividends from SM prior to merger. 3. Price needs to move up enroute from Monday to Merger. $0.11 is almost a no-brainer. Watch it. BB had collected enough. Price had seen sideways for too long. 0.09 will be broken easily. We should not be seeing 8 series anymore. Towards 9 and more on the way. |
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MANFREDTMK
Master |
27-Feb-2022 15:36
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Action speaks louder than words. Words are Cheap
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MANFREDTMK
Master |
27-Feb-2022 15:34
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Unfortunately, we have a group of blinds who can't even see the obvious. The blinds leading the blinds, the whole world becomes blinds as a result. Feel so sorry for them. Don't bother to educate them, it can never be done. Never. Use the time for some better cause. There is no medicine for stupxxxxx. For 7 months already, their predictions of 7 cents, let alone 4 cents, had never even happened once. Many who listened to them selling their shares at 8 cents then are now crying and licking their wounds. Give them the benefits of the escalation of the war, their dreams will always remain a dream on Monday. How do you expect people to trust you when you are GOOD..........FOR NOTHING, consistently wrong? Even a Dead clock is correct twice a day, even a 12 years old is correct half the time. So pathetic 😭
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