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SembCorp Marine- The new Frontier. Post Reply Rate topic
ckmpd1 Supreme	24-Jun-2021 19:25        ckmpd1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yes. See how they pressed down the price of KC.  TH was supposed to pay %7.35 last year for KC.  Now they can get KC for $6. TH may be able to pick SMM for less than 15c in future bystander1965      ( Date: 24-Jun-2021 19:22) Posted: This time they didn't say they need a white wash resolution? So TH can over subscribe cheaply and offer peanuts to take SCM private?🤔 SembMarineLong      ( Date: 24-Jun-2021 19:08) Posted: ckmpd1, Nope, not gonna pick up any. Gonna hold it out till Aug/Sep and see how it goes. If the agreement between keppel and smm is trash, Im out for good. Lets brace ourselves for tomorrow and the next few months
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rookie$$ Member	24-Jun-2021 19:24        rookie$$ About Contact  Quote this Post!
x 0   x 0  Alert Admin	It is from the SCM / KOM JV entity. This will price KOM at $3b which TH pulled out from. From this deal TH fork out $1b. Asking shareholders to make up another $500m. Another $1.5b = 50% shares. New SCM NAV will be current + $1.5b? What is the new NAV per share? bystander1965      ( Date: 24-Jun-2021 19:20) Posted: That's not from the potential merged entity. It's a separate one for their legacy stuff which SCM is not doing anything more. Starship      ( Date: 24-Jun-2021 18:53) Posted: Keppel Corporation will also receive shares in the combined entity and a cash consideration of up to $500 million. The group says it intends to distribute all the shares in the combined entity to its shareholders by way of distribution in specie.
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naoshingo Elite	24-Jun-2021 19:23        naoshingo About Contact  Quote this Post!
x 0   x 0  Alert Admin	I might take up.. This round is different as it has mou with KC on merger. ckmpd1      ( Date: 24-Jun-2021 19:20) Posted: Agree.  I am not going to throw good money after bad money SembMarineLong      ( Date: 24-Jun-2021 19:08) Posted: ckmpd1, Nope, not gonna pick up any. Gonna hold it out till Aug/Sep and see how it goes. If the agreement between keppel and smm is trash, Im out for good. Lets brace ourselves for tomorrow and the next few months
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ckmpd1 Supreme	24-Jun-2021 19:23        ckmpd1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	yes, probably.  but likely no one will buy Checkerman      ( Date: 24-Jun-2021 19:00) Posted: Can sell the rights away bo ? ckmpd1      ( Date: 24-Jun-2021 18:57) Posted: SembMarineLong, I dont intend to pick up the rights.  How abt you
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bystander1965 Supreme	24-Jun-2021 19:22        bystander1965 About Contact  Quote this Post!   Mood: Yells: "What I say is just my assessment. DYODD"
x 0   x 0  Alert Admin	This time they didn't say they need a white wash resolution? So TH can over subscribe cheaply and offer peanuts to take SCM private?🤔 SembMarineLong      ( Date: 24-Jun-2021 19:08) Posted: ckmpd1, Nope, not gonna pick up any. Gonna hold it out till Aug/Sep and see how it goes. If the agreement between keppel and smm is trash, Im out for good. Lets brace ourselves for tomorrow and the next few months. ckmpd1      ( Date: 24-Jun-2021 18:57) Posted: SembMarineLong, I dont intend to pick up the rights.  How abt you
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ckmpd1 Supreme	24-Jun-2021 19:20        ckmpd1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Agree.  I am not going to throw good money after bad money SembMarineLong      ( Date: 24-Jun-2021 19:08) Posted: ckmpd1, Nope, not gonna pick up any. Gonna hold it out till Aug/Sep and see how it goes. If the agreement between keppel and smm is trash, Im out for good. Lets brace ourselves for tomorrow and the next few months. ckmpd1      ( Date: 24-Jun-2021 18:57) Posted: SembMarineLong, I dont intend to pick up the rights.  How abt you
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bystander1965 Supreme	24-Jun-2021 19:20        bystander1965 About Contact  Quote this Post!   Mood: Yells: "What I say is just my assessment. DYODD"
x 0   x 0  Alert Admin	That's not from the potential merged entity. It's a separate one for their legacy stuff which SCM is not doing anything more. Starship      ( Date: 24-Jun-2021 18:53) Posted: Keppel Corporation will also receive shares in the combined entity and a cash consideration of up to $500 million. The group says it intends to distribute all the shares in the combined entity to its shareholders by way of distribution in specie. Starship      ( Date: 24-Jun-2021 18:48) Posted: SembMarine seeks to raise $1.5 bil through rights issue as it enters into MOU with Keppel O& M on potential merger Thu, Jun 24, 2021 / 6:06 PM GMT+8 Sembcorp Marine (SembMarine) has announced that intends to take a renounceable underwritten rights issue to raise gross proceeds of some $1.5 billion with an issue price of 8 cents per rights share. The company will issue up to 18.83 billion new shares in its capital on the basis of three new shares for two existing shares held. The rights issue is expected to be completed in the third quarter of 2021. The issue price represents a discount of 58.1% to SembMarine&rsquo s last transacted price of 19.1 cents on June 23. SembMarine&rsquo s announcement of its rights issue came minutes after it jointly announced the signing of a non-binding memorandum of understanding (MOU) with Keppel Corporation. The MOU will see both companies enter into exclusive negotiations to combine Keppel&rsquo s offshore and marine (O& M) arm, Keppel O& M with SembMarine. Under the MOU, Keppel Corporation and the combined entity will enter into a strategic partnership where Keppel will hold 50% of the 50-50 joint venture (JV) established between both parties. The arrangement means Keppel Corporation will still be able to continue accessing Keppel O& M&rsquo s capabilities required for its projects. If successfully completed, the merger is expected to be a listed entity and accretive to Keppel Corporation&rsquo s earnings for the current financial year on a pro forma basis. Keppel Corporation will also receive shares in the combined entity and a cash consideration of up to $500 million. The group says it intends to distribute all the shares in the combined entity to its shareholders by way of distribution in specie. According to the joint statement released by Keppel Corporation and SembMarine, both companies are also pivoting to the renewables sector. By putting together their resources, the combined entity would be able to accelerate the companies&rsquo pivot towards O& M renewables opportunities. The combined entity would also be able to compete for larger contracts among other benefits. On the same day, Keppel Corp has signed a non-binding MOU with Temasek Holdings subsidiary, Kyanite Investment Holdings, to sell Keppel O& M&rsquo s legacy completed and uncompleted rigs, as well as associated receivables to a separate asset company which would be majority-owned by external investors. Keppel Corp will hold a 20% stake or less in the new asset company, while external investors will hold the balance of at least 80%. Keppel O& M&rsquo s interests in Floatel International and Dyna-Mac Holdings, as well as its legacy rigs will be excluded from the combination. Its interests in Floatel International and Dyna-Mac Holdings will remain with Keppel Corporation. Keppel Corp will receive the consideration for the legacy rigs and associated receivables in the form of credit notes. The new asset company will be independently managed from the merged entity. https://www.theedgesingapore.com/news/offshore-marine/sembmarine-seeks-raise-15-bil-through-rights-issue-it-enters-mou-keppel-om
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amigo52 Member	24-Jun-2021 19:18        amigo52 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Startree undertake to subscribe for 67%
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raykee Veteran	24-Jun-2021 19:17        raykee About Contact  Quote this Post!
x 0   x 0  Alert Admin	We are just small players la but what the issue of smm is cos it has foreigners in the management team who screwed the whole thing.....
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Silo1234 Elite	24-Jun-2021 19:15        Silo1234 About Contact  Quote this Post!
x 0   x 0  Alert Admin	...an extraordinary general meeting (EGM) will be called in August for Sembcorp Marine to seek shareholders' approval for the rights issue. Startree has given its irrevocable undertaking to vote in favour of the rights issue at the EGM. ..........more or less done deal ?...............
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raykee Veteran	24-Jun-2021 19:13        raykee About Contact  Quote this Post!
x 0   x 0  Alert Admin	Those who got smm from sci, will it still be a gain?? Or we have been cheated into it?
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Silo1234 Elite	24-Jun-2021 19:09        Silo1234 About Contact  Quote this Post!
x 0   x 0  Alert Admin	No choise as analyst says something like marines must merge to be better.......... Sembmarine is king of marine.............so its the leader,,,,,,,,.....
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SembMarineLong Veteran	24-Jun-2021 19:08        SembMarineLong About Contact  Quote this Post!
x 0   x 0  Alert Admin	ckmpd1, Nope, not gonna pick up any. Gonna hold it out till Aug/Sep and see how it goes. If the agreement between keppel and smm is trash, Im out for good. Lets brace ourselves for tomorrow and the next few months. ckmpd1      ( Date: 24-Jun-2021 18:57) Posted: SembMarineLong, I dont intend to pick up the rights.  How abt you? SembMarineLong      ( Date: 24-Jun-2021 18:16) Posted: Disappointing outcome. Two rights  issue back to back from last year and now.
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Invest1 Elite	24-Jun-2021 19:07        Invest1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Seems like not a good deal for small shareholders like us...keep on pumping money and give TEMASEK...
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rookie$$ Member	24-Jun-2021 19:05        rookie$$ About Contact  Quote this Post!
x 0   x 0  Alert Admin	So they didn' t abstain from voting? SembMarineLong      ( Date: 24-Jun-2021 19:04) Posted: TH holds most the shares, we small retailer are just under their mercy. Vote? No way. rookie$$      ( Date: 24-Jun-2021 18:58) Posted: Will you vote against the deal? Can Temasek vote for
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SembMarineLong Veteran	24-Jun-2021 19:04        SembMarineLong About Contact  Quote this Post!
x 0   x 1  Alert Admin	TH holds most the shares, we small retailer are just under their mercy. Vote? No way. rookie$$      ( Date: 24-Jun-2021 18:58) Posted: Will you vote against the deal? Can Temasek vote for? ckmpd1      ( Date: 24-Jun-2021 18:57) Posted: SembMarineLong, I dont intend to pick up the rights.  How abt you
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Checkerman Master	24-Jun-2021 19:00        Checkerman About Contact  Quote this Post!
x 0   x 0  Alert Admin	Can sell the rights away bo ? ckmpd1      ( Date: 24-Jun-2021 18:57) Posted: SembMarineLong, I dont intend to pick up the rights.  How abt you? SembMarineLong      ( Date: 24-Jun-2021 18:16) Posted: Disappointing outcome. Two rights  issue back to back from last year and now.
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ahhuat08 Elite	24-Jun-2021 19:00        ahhuat08 About Contact  Quote this Post!
x 0   x 0  Alert Admin	In the presentation, TH will vote for the rights issue and they hold 46% of scm issued share cap, almost like a foregone conclusion for the rights to proceed rookie$$      ( Date: 24-Jun-2021 18:58) Posted: Will you vote against the deal? Can Temasek vote for? ckmpd1      ( Date: 24-Jun-2021 18:57) Posted: SembMarineLong, I dont intend to pick up the rights.  How abt you
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rookie$$ Member	24-Jun-2021 18:58        rookie$$ About Contact  Quote this Post!
x 0   x 0  Alert Admin	Will you vote against the deal? Can Temasek vote for? ckmpd1      ( Date: 24-Jun-2021 18:57) Posted: SembMarineLong, I dont intend to pick up the rights.  How abt you? SembMarineLong      ( Date: 24-Jun-2021 18:16) Posted: Disappointing outcome. Two rights  issue back to back from last year and now.
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ckmpd1 Supreme	24-Jun-2021 18:57        ckmpd1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	SembMarineLong, I dont intend to pick up the rights.  How abt you? SembMarineLong      ( Date: 24-Jun-2021 18:16) Posted: Disappointing outcome. Two rights  issue back to back from last year and now.
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