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Latest Forum Topics / Sembcorp Ind    Last:6.1    -0.03  Post Reply
SembCorp Industries
Wordee
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11-Jun-2020 10:14     
 
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 Alert Admin
 
Anti-competition objection
In March 2019,  Hyundai Heavy Industries (HHI)  signed an estimated U$1.7B agreement with the state-run Korea Development Bank to buy its smaller rival  Daewoo Shipbuilding & Marine Engineering (DSME). Following the deal, HHI and DSME will have a combined backlog in very large crude carriers (VLCCs) and LNG carriers accounting for more than 60 percent of the world total.
 
Due to the monopolistic status, the deal will need to get approval from fair trade authorities in European Union (EU), Japan, China, Singapore and Kazakhstan since these countries have shipping companies which are HHI and DSME&rsquo s biggest customers. One year has passed, the merger plan is still under review by the authorities in five countries. So far, only Kazakhstan has approved it.
 
 
Earlier in 2018, Japan had already lodged a complaint with the World trade Organization (WTO), claiming that Korean government has provide unfair financial support to Korean shipbuilders. South Korean and Japan held talks on the merger on 30 March 2020 but failed to iron out their differences.
 
Singapore regulators also said the deal between HHI and DSME threatens to remove competition in the supply of LNG carriers, container ships and oil tankers to Singapore customers. In turn, it will also create high barriers to entry for new players specifically with regards to LNG carriers.
 
It was reported last month that EU antitrust regulators have suspended their probe into the merger of the two South Korean firms until further notice, waiting for more information to be provided by the companies. Early last year, EU also rejected the transport rail services merger between two giants Siemens and Alstom citing concerns of competition fairness which may lead to higher prices for the passengers.
 
In view of the extreme difficulty to get approval from fair trade authorities, a possible merger between KOM and SCM, the world&rsquo s two largest rig builders will definitely face the same scrutiny and resistance from anti-trust watchdogs.
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Morricone
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11-Jun-2020 10:13     
 
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 Alert Admin 		very well said...only GLC co not resturctured yet is General Ng' s SPH and of course ST ENG (cash cow)

Luckystrike      ( Date: 11-Jun-2020 10:05) Posted:

The hype surrounded keppel Corp, Semb Corp and SMM are gradually dissipated. Nowadays, TH track records not so good since the sale of NOL.
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arctician1982
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11-Jun-2020 10:11     
 
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 Alert Admin 		same sentiment, initially was worried about their short term debt but after reading following feel its ok.
https://www.bondsupermart.com/bsm/article-detail/sembcorp-industries-ltd-credit-update-9-apr-20-RCMS_207240
 

Credit highlights



As at 31 Dec 19, Sembcorp&rsquo s total debt load stood at S$10.8 billion, up slightly from S$10.7 billion as at 4Q18. Meanwhile, cash fell to S$1.8 billion from S$1.9 billion over the same period. Gross net gearing (net debt/ equity) climbed to 1.2x, up from 1.1x as at 4Q18. Including S$801m of perpetual securities as debt, adjusted net gearing would have risen to a high level of 1.4x.

Short term obligations amounted to S$2.6 billion, of which S$674m are secured against net assets and stakes of its subsidiaries, property, plant and equipment and other assets. The cash balance of S$1.8 billion is insufficient to cover short term debt even if we assumed that the secured portion of S$674m can be refinanced.

Included in the short term debt are S$1.4 billion undertaken by SCM. Per SCI, its marine subsidiary is working with lenders to refinance a loan that would lead to a change in its debt maturity profile. In addition, the group disclosed that it has at least S$1.0 billion in committed revolving credit facilities with final maturity dates beyond 2022 that can be drawn down to boost liquidity. In the longer term beyond one year, we see a manageable debt maturity profile with most of its debt coming due only in 4 to 5 years&rsquo time (see Figure 1).

Figure 1: SCI&rsquo s debt maturity profile as at 31 Dec 19

SgTrader17      ( Date: 11-Jun-2020 09:57) Posted:

Just share my story on SCI: I bought in Jan this year when those share buyback by SCI at about $2.20 to $2.35 happened. They bought quite some shares back. I also bought in at $2.20, $2.12, $2.04. Then with the virus situation and SCM dragging it down due to low oil prices and profits warning by SCI, prices kept declining down, week after week, to only stabilised at $1.50++. I bought some again at $1 54. Then come MSCI index issue, it dropped to a low of $1.36. My heart sanked. Imagine buying from a high of $2.20 to a low of $1.54 and the share price left $1.36, for a Temasek owed STI blue chip. That feelings really sucked big time. But I kept reviewing the NAV and PB of the counter and it is stated NAV at about $3.50 and trading at only about less than 0.4 times its Book Value. So I convinced myself everything will be fine eventually, and company will keep it's words to diversify or find a way out for its loss making SCM to unlock value back to shareholders. The most happy day came this Tuesday when it finally got "unlocked" and went above $2.00. I was so relieved that I waited and hold to it, never give up or cut my loss. One reason being I am supportive of SCI renewable energy sector and seeing the projects it signed with SIA, PUB and it's involvement in other countries such as India, Myanmar etc. This counter can only gets stronger into the future, especially now with SCM demerged. The company didn't play us out, it offer us 4200 to 4900 shares for every 1000 shares we bought. That will be the value unlocked and rewarded to us. We still continue to owe a piece of the pie in SCI with its profit making Renewable energy and urban development businesses. In the future, will it become better and stronger? To me, definitely. At current price tag of $2.00 (still with Free SCM shares), you make your assessment to buy or to sell. My decision is clear, it is undervalued. Be it now or for its future profitable businesses. There's a lot of potential for renewable energy in Singapore and in many asian countries for SCI to cooperate with. That's my two cents sharing. I will keep adding if the price go back down. Anything below $2.00 is reasonable cheap to me now. Anything below $1.90 is to add more. Below $1.80 is Lelong prices. Dyodd. All the best. Renewable energy is the new future.

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K.I.S.S
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11-Jun-2020 10:09     
 
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 Alert Admin 		thanks for your journey with SCI.

maccer      ( Date: 11-Jun-2020 10:05) Posted:

Well done! Thanks for sharing. Lessons for me to learn. Tomorrow will be better. Tamasek is also a profit org for the nations. Have faith! 

SgTrader17      ( Date: 11-Jun-2020 09:57) Posted:

Just share my story on SCI: I bought in Jan this year when those share buyback by SCI at about $2.20 to $2.35 happened. They bought quite some shares back. I also bought in at $2.20, $2.12, $2.04. Then with the virus situation and SCM dragging it down due to low oil prices and profits warning by SCI, prices kept declining down, week after week, to only stabilised at $1.50++. I bought some again at $1 54. Then come MSCI index issue, it dropped to a low of $1.36. My heart sanked. Imagine buying from a high of $2.20 to a low of $1.54 and the share price left $1.36, for a Temasek owed STI blue chip. That feelings really sucked big time. But I kept reviewing the NAV and PB of the counter and it is stated NAV at about $3.50 and trading at only about less than 0.4 times its Book Value. So I convinced myself everything will be fine eventually, and company will keep it's words to diversify or find a way out for its loss making SCM to unlock value back to shareholders. The most happy day came this Tuesday when it finally got "unlocked" and went above $2.00. I was so relieved that I waited and hold to it, never give up or cut my loss. One reason being I am supportive of SCI renewable energy sector and seeing the projects it signed with SIA, PUB and it's involvement in other countries such as India, Myanmar etc. This counter can only gets stronger into the future, especially now with SCM demerged. The company didn't play us out, it offer us 4200 to 4900 shares for every 1000 shares we bought. That will be the value unlocked and rewarded to us. We still continue to owe a piece of the pie in SCI with its profit making Renewable energy and urban development businesses. In the future, will it become better and stronger? To me, definitely. At current price tag of $2.00 (still with Free SCM shares), you make your assessment to buy or to sell. My decision is clear, it is undervalued. Be it now or for its future profitable businesses. There's a lot of potential for renewable energy in Singapore and in many asian countries for SCI to cooperate with. That's my two cents sharing. I will keep adding if the price go back down. Anything below $2.00 is reasonable cheap to me now. Anything below $1.90 is to add more. Below $1.80 is Lelong prices. Dyodd. All the best. Renewable energy is the new future.


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danger
Supreme
11-Jun-2020 10:07     
 
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 Alert Admin 		So from $2.30 until $1.5x ... you managed to average to what price ?

SgTrader17      ( Date: 11-Jun-2020 10:04) Posted:

If $1.80, I will buy more. That's at least 20% returns come September. But, will we have the chance for $1.80 again? Unlikely. (But in stock market, anything is possible). I won't say a 100% impossible. I will just press the buy button if it does happen. Buying into future renewal energy business. Will get the rewards eventually. Dyodd.

aniki19      ( Date: 11-Jun-2020 10:00) Posted:

I kinda somehow gotta a feeling will meet the $1.80 range before climbing to above $2.20
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weekaykee
Master
11-Jun-2020 10:06     
 
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 Alert Admin 		Why not, If Dow Jones decides to undergo a major 10%-15% correction which could be underway and is overdue (NASDAQ much more so) anyway, $1.80 could be reached.

SgTrader17      ( Date: 11-Jun-2020 10:04) Posted:

If $1.80, I will buy more. That's at least 20% returns come September. But, will we have the chance for $1.80 again? Unlikely. (But in stock market, anything is possible). I won't say a 100% impossible. I will just press the buy button if it does happen. Buying into future renewal energy business. Will get the rewards eventually. Dyodd.

aniki19      ( Date: 11-Jun-2020 10:00) Posted:

I kinda somehow gotta a feeling will meet the $1.80 range before climbing to above $2.20
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Luckystrike
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11-Jun-2020 10:05     
 
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 Alert Admin 		The hype surrounded keppel Corp, Semb Corp and SMM are gradually dissipated. Nowadays, TH track records not so good since the sale of NOL.
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maccer
Master
11-Jun 10:05     
 
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 Alert Admin 		Well done! Thanks for sharing. Lessons for me to learn. Tomorrow will be better. Tamasek is also a profit org for the nations. Have faith! 

SgTrader17      ( Date: 11-Jun-2020 09:57) Posted:

Just share my story on SCI: I bought in Jan this year when those share buyback by SCI at about $2.20 to $2.35 happened. They bought quite some shares back. I also bought in at $2.20, $2.12, $2.04. Then with the virus situation and SCM dragging it down due to low oil prices and profits warning by SCI, prices kept declining down, week after week, to only stabilised at $1.50++. I bought some again at $1 54. Then come MSCI index issue, it dropped to a low of $1.36. My heart sanked. Imagine buying from a high of $2.20 to a low of $1.54 and the share price left $1.36, for a Temasek owed STI blue chip. That feelings really sucked big time. But I kept reviewing the NAV and PB of the counter and it is stated NAV at about $3.50 and trading at only about less than 0.4 times its Book Value. So I convinced myself everything will be fine eventually, and company will keep it's words to diversify or find a way out for its loss making SCM to unlock value back to shareholders. The most happy day came this Tuesday when it finally got "unlocked" and went above $2.00. I was so relieved that I waited and hold to it, never give up or cut my loss. One reason being I am supportive of SCI renewable energy sector and seeing the projects it signed with SIA, PUB and it's involvement in other countries such as India, Myanmar etc. This counter can only gets stronger into the future, especially now with SCM demerged. The company didn't play us out, it offer us 4200 to 4900 shares for every 1000 shares we bought. That will be the value unlocked and rewarded to us. We still continue to owe a piece of the pie in SCI with its profit making Renewable energy and urban development businesses. In the future, will it become better and stronger? To me, definitely. At current price tag of $2.00 (still with Free SCM shares), you make your assessment to buy or to sell. My decision is clear, it is undervalued. Be it now or for its future profitable businesses. There's a lot of potential for renewable energy in Singapore and in many asian countries for SCI to cooperate with. That's my two cents sharing. I will keep adding if the price go back down. Anything below $2.00 is reasonable cheap to me now. Anything below $1.90 is to add more. Below $1.80 is Lelong prices. Dyodd. All the best. Renewable energy is the new future.

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Singpost
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11-Jun-2020 10:03     
 
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 Alert Admin 		quite normal to have rest pt... will expect continue the positive note
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raymoon
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11-Jun-2020 10:04     
 
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 Alert Admin 		On the fair side, most of the blue chip stocks are taking a hit today....
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SgTrader17
Elite
11-Jun-2020 10:04     
 
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 Alert Admin 		If $1.80, I will buy more. That's at least 20% returns come September. But, will we have the chance for $1.80 again? Unlikely. (But in stock market, anything is possible). I won't say a 100% impossible. I will just press the buy button if it does happen. Buying into future renewal energy business. Will get the rewards eventually. Dyodd.

aniki19      ( Date: 11-Jun-2020 10:00) Posted:

I kinda somehow gotta a feeling will meet the $1.80 range before climbing to above $2.20
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Wordee
Senior
11-Jun-2020 10:03     
 
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 Alert Admin 		1.90 is the new benchmark
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aniki19
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11-Jun-2020 10:00     
 
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 Alert Admin 		I kinda somehow gotta a feeling will meet the $1.80 range before climbing to above $2.20
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SgTrader17
Elite
11-Jun-2020 09:57     
 
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 Alert Admin 		Just share my story on SCI: I bought in Jan this year when those share buyback by SCI at about $2.20 to $2.35 happened. They bought quite some shares back. I also bought in at $2.20, $2.12, $2.04. Then with the virus situation and SCM dragging it down due to low oil prices and profits warning by SCI, prices kept declining down, week after week, to only stabilised at $1.50++. I bought some again at $1 54. Then come MSCI index issue, it dropped to a low of $1.36. My heart sanked. Imagine buying from a high of $2.20 to a low of $1.54 and the share price left $1.36, for a Temasek owed STI blue chip. That feelings really sucked big time. But I kept reviewing the NAV and PB of the counter and it is stated NAV at about $3.50 and trading at only about less than 0.4 times its Book Value. So I convinced myself everything will be fine eventually, and company will keep it's words to diversify or find a way out for its loss making SCM to unlock value back to shareholders. The most happy day came this Tuesday when it finally got "unlocked" and went above $2.00. I was so relieved that I waited and hold to it, never give up or cut my loss. One reason being I am supportive of SCI renewable energy sector and seeing the projects it signed with SIA, PUB and it's involvement in other countries such as India, Myanmar etc. This counter can only gets stronger into the future, especially now with SCM demerged. The company didn't play us out, it offer us 4200 to 4900 shares for every 1000 shares we bought. That will be the value unlocked and rewarded to us. We still continue to owe a piece of the pie in SCI with its profit making Renewable energy and urban development businesses. In the future, will it become better and stronger? To me, definitely. At current price tag of $2.00 (still with Free SCM shares), you make your assessment to buy or to sell. My decision is clear, it is undervalued. Be it now or for its future profitable businesses. There's a lot of potential for renewable energy in Singapore and in many asian countries for SCI to cooperate with. That's my two cents sharing. I will keep adding if the price go back down. Anything below $2.00 is reasonable cheap to me now. Anything below $1.90 is to add more. Below $1.80 is Lelong prices. Dyodd. All the best. Renewable energy is the new future.
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danger
Supreme
11-Jun-2020 09:54     
 
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 Alert Admin 		At around 2.17 to 2.20... guess many felt the same way...  ready to push to $3 and beyond

Lightscity      ( Date: 11-Jun-2020 09:52) Posted:

I feel like there is strong accumulation at $2.00. Anyone feels the same way?
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Lightscity
Senior
11-Jun-2020 09:52     
 
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 Alert Admin 		I feel like there is strong accumulation at $2.00. Anyone feels the same way?
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bxylqwan
Master
11-Jun-2020 09:52     
 
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 Alert Admin 		I have decided I will sell if it touches 2.1-2.2 range again. Don' t see a point keeping for now as I believe the price will continue to drop for a while first
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Morricone
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11-Jun-2020 09:49     
 
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 Alert Admin 		human behavior...fear and greed...when SCI was dumped out of MSCI everyone said lousy and nobody bought at 1.36 to 1.40...i do concur that nobody knew GF death would shut DT mouth up and caused a bull run indirectly though

Djsoul80      ( Date: 11-Jun-2020 09:41) Posted:

I'm betting to holding more SMM. Looking forward for the merger with Keppel. I hope either its good cash offer for sembcorp marine by keppel corp. I don't mind if merge, Sembcorp marine to be delisted and in return compensated with kepcorp shares even better.

Morricone      ( Date: 11-Jun-2020 09:36) Posted:

Those with Market Depth now can see there are 1K blocks on the buy side of the queue and much much less seller on the sell side...such a pattern would usually mean its a trap and the share price will go down...those who bought below 1990 can take profit first if not taken and enter at a lower price later OR wait for KC to drop below 600 to lock in TH offer (buy 1 lot at $6K, KC offer 300 shares at $7.25 lock in return of $125 times 3=$375 plus any capital gain if KC moves above $600)...KC side is more clear cut also if they take over SMM at a later date as the book value will definitely be higher than now...
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maccer
Master
11-Jun-2020 09:48     
 
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 Alert Admin 		Once in a life time to get good returns of your investments from these two counters! Angpow from Tamasek! Buy
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bigbang10
Veteran
11-Jun-2020 09:47     
 
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 Alert Admin 		agree bro. same here. jus ignore the intraday noises as our objectives are very clear

if can drop to 1.9 i will jeep some more. haha

Djsoul80      ( Date: 11-Jun-2020 09:41) Posted:

I'm betting to holding more SMM. Looking forward for the merger with Keppel. I hope either its good cash offer for sembcorp marine by keppel corp. I don't mind if merge, Sembcorp marine to be delisted and in return compensated with kepcorp shares even better.

Morricone      ( Date: 11-Jun-2020 09:36) Posted:

Those with Market Depth now can see there are 1K blocks on the buy side of the queue and much much less seller on the sell side...such a pattern would usually mean its a trap and the share price will go down...those who bought below 1990 can take profit first if not taken and enter at a lower price later OR wait for KC to drop below 600 to lock in TH offer (buy 1 lot at $6K, KC offer 300 shares at $7.25 lock in return of $125 times 3=$375 plus any capital gain if KC moves above $600)...KC side is more clear cut also if they take over SMM at a later date as the book value will definitely be higher than now...
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