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SembCorp Marine- The new Frontier.
DLP123
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02-Feb-2021 14:48     
 
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 Alert Admin 		Interesting to know net assets per share. 

better      ( Date: 07-Jan-2021 16:38) Posted:

ADS2200, those are the pre-rights issue numbers.

After the rights issue in Sept, the debt is reduced by $1.5billion (surbodinated lon from Semcorp written off)
Cash increase from $1.1 to $1.7 billion ($600 million cash from rights issue)

The number of shares increase from 2 to 12 billion.

So cash on hand NOW is 14-16 cenrts per share. I venture to say it is closer to 16 cents per share cash.

ADS2200      ( Date: 07-Jan-2021 12:02) Posted:

Better, how you interpret - the total cash per share $0.53 in relation to the share price


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better
Elite
02-Feb-2021 10:04     
 
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 Alert Admin
 

Asian shipyard takes lead in Petrobras mega tender for pair of Buzios floaters



Three groups have submitted offers for the P-78 and P-79 FPSOs to be deployed in the Brazilian pre-salt play
2 February 2021 0:29 GMT  UPDATED    2 February 2021 0:29 GMT


 
 
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better
Elite
02-Feb-2021 09:47     
 
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 Alert Admin 		Added some to the rocket fuel today. CNY arriving soon.  laugh

Daily purchase program- Bought at 15.0 cents

Trade safe and DYODD!
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better
Elite
01-Feb-2021 22:36     
 
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 Alert Admin 		Then again, those unwanted rigs (shit) would gradually turn into black gold over the next 2-3 years if oil price stays at or above current levels. Brent Crude is steady at $55-56 for quite awhile already.

naoshingo      ( Date: 01-Feb-2021 22:15) Posted:

Very well explained, Bro Better.  yes

better      ( Date: 01-Feb-2021 22:13) Posted:

Of course not letting go of it easily. They wanted to SELL it to Temasek for a good price. That' s why they go through the trouble of segregating Keppel OM into 3. Removing all the shit from the gem so they can sell the gem at a good price. 

Also, KC knows that the offshore rebound is happening right about now. So, they are likely to want to retain partial ownership of the merged entity a.ka. Sembmarine. If KC sells the whole Op Co to Temasek, then TH will end up owning more than 70% of the merged entity. Usually that is not Temasek' s style. They usually want to own max 49.9% of a Spore listed company.

 
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naoshingo
Elite
01-Feb-2021 22:15     
 
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 Alert Admin 		Very well explained, Bro Better.  yes

better      ( Date: 01-Feb-2021 22:13) Posted:

Of course not letting go of it easily. They wanted to SELL it to Temasek for a good price. That' s why they go through the trouble of segregating Keppel OM into 3. Removing all the shit from the gem so they can sell the gem at a good price. 

Also, KC knows that the offshore rebound is happening right about now. So, they are likely to want to retain partial ownership of the merged entity a.ka. Sembmarine. If KC sells the whole Op Co to Temasek, then TH will end up owning more than 70% of the merged entity. Usually that is not Temasek' s style. They usually want to own max 49.9% of a Spore listed company.

 

naoshingo      ( Date: 01-Feb-2021 21:55) Posted:

Hmm....this is possible too, Bro Better.
But CEO Loh Chin Hua said that Op Co is a KC entity...doubt KC will let if off so easily,,,unless it is a decoy comment...
 
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naoshingo
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01-Feb-2021 22:13     
 
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 Alert Admin 		True...I also hope this gets materialized as well....

bystander1965      ( Date: 01-Feb-2021 22:03) Posted:

Actually if I'm not wrong he did leave the door open. His last statement on this was something like should there be any opportunity for divestment in this it would create a better value for KC. And I think he was referring to op co.

naoshingo      ( Date: 01-Feb-2021 21:55) Posted:

Hmm....this is possible too, Bro Better.
But CEO Loh Chin Hua said that Op Co is a KC entity...doubt KC will let if off so easily,,,unless it is a decoy comment...
 
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better
Elite
01-Feb-2021 22:13     
 
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 Alert Admin 		Of course not letting go of it easily. They wanted to SELL it to Temasek for a good price. That' s why they go through the trouble of segregating Keppel OM into 3. Removing all the shit from the gem so they can sell the gem at a good price. 

Also, KC knows that the offshore rebound is happening right about now. So, they are likely to want to retain partial ownership of the merged entity a.ka. Sembmarine. If KC sells the whole Op Co to Temasek, then TH will end up owning more than 70% of the merged entity. Usually that is not Temasek' s style. They usually want to own max 49.9% of a Spore listed company.

 

naoshingo      ( Date: 01-Feb-2021 21:55) Posted:

Hmm....this is possible too, Bro Better.
But CEO Loh Chin Hua said that Op Co is a KC entity...doubt KC will let if off so easily,,,unless it is a decoy comment...
 

better      ( Date: 01-Feb-2021 21:48) Posted:

Actually Sembmarine wanted to do the design, planning and integration work and sub-contract some of the labour intensive work to China yards.

Keppel wanted to get rid of the Dev and Rig Co. But SMM is not the buyer because they are not in the biz of leasing rigs. Keppel will have to wait for the original buyers or other rig leasing companies to take over. Keppel also mentioned that as a last resort, they would try leasing them on their own.

Sembmarine has already too much physical yard capacity at the moment. Their Tua Boulevard integrated yard (TBY) is state of the and highly cost effective. Keppel yards has not much value to them. SMM will only be willing to absorb Keppel yards only if all their IP, talents and expertises go with the sales. That means buying Keppel OM' s ability to secure projects.

Keppel on the other hand, has stated repeatedly that O and M is non-core assets. Keppel also said that by spliting Keppel OM into 3, the Op Co will be more attractive to prospective buyers. The writings are all over the wall how the merger is going to happen.
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bystander1965
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01-Feb-2021 22:04     
 
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 Alert Admin 		You are still in the money 💰 💰 💰

naoshingo      ( Date: 01-Feb-2021 21:59) Posted:

Lol...KC is so good at sweet talking to SH....
That' s why I bought some at 4.50+.,...
I got tricked...should buy more Wilmar instead,,,,Haizz...

bystander1965      ( Date: 01-Feb-2021 21:51) Posted:

A couple of weeks ago, it struck me that what KC calls unlocking shareholders' values appear to be another name for divestment, to reduce debt. Kekeke
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bystander1965
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01-Feb-2021 22:03     
 
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 Alert Admin 		Actually if I'm not wrong he did leave the door open. His last statement on this was something like should there be any opportunity for divestment in this it would create a better value for KC. And I think he was referring to op co.

naoshingo      ( Date: 01-Feb-2021 21:55) Posted:

Hmm....this is possible too, Bro Better.
But CEO Loh Chin Hua said that Op Co is a KC entity...doubt KC will let if off so easily,,,unless it is a decoy comment...
 

better      ( Date: 01-Feb-2021 21:48) Posted:

Actually Sembmarine wanted to do the design, planning and integration work and sub-contract some of the labour intensive work to China yards.

Keppel wanted to get rid of the Dev and Rig Co. But SMM is not the buyer because they are not in the biz of leasing rigs. Keppel will have to wait for the original buyers or other rig leasing companies to take over. Keppel also mentioned that as a last resort, they would try leasing them on their own.

Sembmarine has already too much physical yard capacity at the moment. Their Tua Boulevard integrated yard (TBY) is state of the and highly cost effective. Keppel yards has not much value to them. SMM will only be willing to absorb Keppel yards only if all their IP, talents and expertises go with the sales. That means buying Keppel OM' s ability to secure projects.

Keppel on the other hand, has stated repeatedly that O and M is non-core assets. Keppel also said that by spliting Keppel OM into 3, the Op Co will be more attractive to prospective buyers. The writings are all over the wall how the merger is going to happen.
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naoshingo
Elite
01-Feb-2021 21:59     
 
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 Alert Admin 		Lol...KC is so good at sweet talking to SH....
That' s why I bought some at 4.50+.,...
I got tricked...should buy more Wilmar instead,,,,Haizz...

bystander1965      ( Date: 01-Feb-2021 21:51) Posted:

A couple of weeks ago, it struck me that what KC calls unlocking shareholders' values appear to be another name for divestment, to reduce debt. Kekeke.

naoshingo      ( Date: 01-Feb-2021 21:46) Posted:

Yes, that is true. I just took a review. This is interesting.
SM has stronger balance sheet.

Honestly if KC do not execute their divesment activity, very highly KC would need to do a rights issue..devil
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naoshingo
Elite
01-Feb-2021 21:55     
 
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 Alert Admin 		Hmm....this is possible too, Bro Better.
But CEO Loh Chin Hua said that Op Co is a KC entity...doubt KC will let if off so easily,,,unless it is a decoy comment...
 

better      ( Date: 01-Feb-2021 21:48) Posted:

Actually Sembmarine wanted to do the design, planning and integration work and sub-contract some of the labour intensive work to China yards.

Keppel wanted to get rid of the Dev and Rig Co. But SMM is not the buyer because they are not in the biz of leasing rigs. Keppel will have to wait for the original buyers or other rig leasing companies to take over. Keppel also mentioned that as a last resort, they would try leasing them on their own.

Sembmarine has already too much physical yard capacity at the moment. Their Tua Boulevard integrated yard (TBY) is state of the and highly cost effective. Keppel yards has not much value to them. SMM will only be willing to absorb Keppel yards only if all their IP, talents and expertises go with the sales. That means buying Keppel OM' s ability to secure projects.

Keppel on the other hand, has stated repeatedly that O and M is non-core assets. Keppel also said that by spliting Keppel OM into 3, the Op Co will be more attractive to prospective buyers. The writings are all over the wall how the merger is going to happen.

naoshingo      ( Date: 01-Feb-2021 21:27) Posted:

hmm...I have to side with David.
Dev & Rig Co would be the mergering entities.
Ops Co as CEO Loh Chin Hua had said, it will remained as a Keppel entity,
While Dev & Rig Co are transient entity.

I think Ops Co will secure the projects, do the design and sub-contract to SM to do the construction. I think this is the way moving forward.

Then I think SM will take over some of the yards.

Just my speculation..
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bystander1965
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01-Feb-2021 21:53     
 
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 Alert Admin 		I actually subscribe to this view. After reading KC' s announcement that' s the feeling I get. But then I am no expert ...

better      ( Date: 01-Feb-2021 21:48) Posted:

Actually Sembmarine wanted to do the design, planning and integration work and sub-contract some of the labour intensive work to China yards.

Keppel wanted to get rid of the Dev and Rig Co. But SMM is not the buyer because they are not in the biz of leasing rigs. Keppel will have to wait for the original buyers or other rig leasing companies to take over. Keppel also mentioned that as a last resort, they would try leasing them on their own.

Sembmarine has already too much physical yard capacity at the moment. Their Tua Boulevard integrated yard (TBY) is state of the and highly cost effective. Keppel yards has not much value to them. SMM will only be willing to absorb Keppel yards only if all their IP, talents and expertises go with the sales. That means buying Keppel OM' s ability to secure projects.

Keppel on the other hand, has stated repeatedly that O and M is non-core assets. Keppel also said that by spliting Keppel OM into 3, the Op Co will be more attractive to prospective buyers. The writings are all over the wall how the merger is going to happen.

naoshingo      ( Date: 01-Feb-2021 21:27) Posted:

hmm...I have to side with David.
Dev & Rig Co would be the mergering entities.
Ops Co as CEO Loh Chin Hua had said, it will remained as a Keppel entity,
While Dev & Rig Co are transient entity.

I think Ops Co will secure the projects, do the design and sub-contract to SM to do the construction. I think this is the way moving forward.

Then I think SM will take over some of the yards.

Just my speculation..
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bystander1965
Supreme
01-Feb-2021 21:51     
 
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 Alert Admin 		A couple of weeks ago, it struck me that what KC calls unlocking shareholders' values appear to be another name for divestment, to reduce debt. Kekeke.

naoshingo      ( Date: 01-Feb-2021 21:46) Posted:

Yes, that is true. I just took a review. This is interesting.
SM has stronger balance sheet.

Honestly if KC do not execute their divesment activity, very highly KC would need to do a rights issue..devil

bystander1965      ( Date: 01-Feb-2021 21:35) Posted:

Someone pointed out a rather important point. KOM currently has " net liabilities" . Merging with it is crazy cause SMM will have to take over all its debt. SMM is slightly better. It has " net current liability" but at least " net assets" . The 2H might see it having " net current assets" also now that the 1.5B debt has been converted
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better
Elite
01-Feb-2021 21:48     
 
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 Alert Admin 		Actually Sembmarine wanted to do the design, planning and integration work and sub-contract some of the labour intensive work to China yards.

Keppel wanted to get rid of the Dev and Rig Co. But SMM is not the buyer because they are not in the biz of leasing rigs. Keppel will have to wait for the original buyers or other rig leasing companies to take over. Keppel also mentioned that as a last resort, they would try leasing them on their own.

Sembmarine has already too much physical yard capacity at the moment. Their Tua Boulevard integrated yard (TBY) is state of the and highly cost effective. Keppel yards has not much value to them. SMM will only be willing to absorb Keppel yards only if all their IP, talents and expertises go with the sales. That means buying Keppel OM' s ability to secure projects.

Keppel on the other hand, has stated repeatedly that O and M is non-core assets. Keppel also said that by spliting Keppel OM into 3, the Op Co will be more attractive to prospective buyers. The writings are all over the wall how the merger is going to happen.

naoshingo      ( Date: 01-Feb-2021 21:27) Posted:

hmm...I have to side with David.
Dev & Rig Co would be the mergering entities.
Ops Co as CEO Loh Chin Hua had said, it will remained as a Keppel entity,
While Dev & Rig Co are transient entity.

I think Ops Co will secure the projects, do the design and sub-contract to SM to do the construction. I think this is the way moving forward.

Then I think SM will take over some of the yards.

Just my speculation...

bystander1965      ( Date: 01-Feb-2021 20:40) Posted:

That' s why better said David was confused. laugh
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naoshingo
Elite
01-Feb-2021 21:46     
 
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 Alert Admin 		Yes, that is true. I just took a review. This is interesting.
SM has stronger balance sheet.

Honestly if KC do not execute their divesment activity, very highly KC would need to do a rights issue..devil

bystander1965      ( Date: 01-Feb-2021 21:35) Posted:

Someone pointed out a rather important point. KOM currently has " net liabilities" . Merging with it is crazy cause SMM will have to take over all its debt. SMM is slightly better. It has " net current liability" but at least " net assets" . The 2H might see it having " net current assets" also now that the 1.5B debt has been converted.

bystander1965      ( Date: 01-Feb-2021 21:31) Posted:

Well, no point speculating. Let nature take its course. I am in no hurry to see any merger. Like I said, SMM sh will suffer if there is any merger now. I honestly think it' s a bad idea now. Perhaps KC backing away from some of the O& G will create some breathing space for both co. Now I am speculating again. devil
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bystander1965
Supreme
01-Feb-2021 21:35     
 
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 Alert Admin 		Someone pointed out a rather important point. KOM currently has " net liabilities" . Merging with it is crazy cause SMM will have to take over all its debt. SMM is slightly better. It has " net current liability" but at least " net assets" . The 2H might see it having " net current assets" also now that the 1.5B debt has been converted.

bystander1965      ( Date: 01-Feb-2021 21:31) Posted:

Well, no point speculating. Let nature take its course. I am in no hurry to see any merger. Like I said, SMM sh will suffer if there is any merger now. I honestly think it' s a bad idea now. Perhaps KC backing away from some of the O& G will create some breathing space for both co. Now I am speculating again. devil

naoshingo      ( Date: 01-Feb-2021 21:27) Posted:

hmm...I have to side with David.
Dev & Rig Co would be the mergering entities.
Ops Co as CEO Loh Chin Hua had said, it will remained as a Keppel entity,
While Dev & Rig Co are transient entity.

I think Ops Co will secure the projects, do the design and sub-contract to SM to do the construction. I think this is the way moving forward.

Then I think SM will take over some of the yards.

Just my speculation..
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naoshingo
Elite
01-Feb-2021 21:35     
 
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 Alert Admin 		Ya...it is a fun discussion hearing from different perspective and opinion.
This is like watching a HK /Korea drama  devil

bystander1965      ( Date: 01-Feb-2021 21:31) Posted:

Well, no point speculating. Let nature take its course. I am in no hurry to see any merger. Like I said, SMM sh will suffer if there is any merger now. I honestly think it' s a bad idea now. Perhaps KC backing away from some of the O& G will create some breathing space for both co. Now I am speculating again. devil

naoshingo      ( Date: 01-Feb-2021 21:27) Posted:

hmm...I have to side with David.
Dev & Rig Co would be the mergering entities.
Ops Co as CEO Loh Chin Hua had said, it will remained as a Keppel entity,
While Dev & Rig Co are transient entity.

I think Ops Co will secure the projects, do the design and sub-contract to SM to do the construction. I think this is the way moving forward.

Then I think SM will take over some of the yards.

Just my speculation..
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bystander1965
Supreme
01-Feb-2021 21:31     
 
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 Alert Admin 		Well, no point speculating. Let nature take its course. I am in no hurry to see any merger. Like I said, SMM sh will suffer if there is any merger now. I honestly think it' s a bad idea now. Perhaps KC backing away from some of the O& G will create some breathing space for both co. Now I am speculating again. devil

naoshingo      ( Date: 01-Feb-2021 21:27) Posted:

hmm...I have to side with David.
Dev & Rig Co would be the mergering entities.
Ops Co as CEO Loh Chin Hua had said, it will remained as a Keppel entity,
While Dev & Rig Co are transient entity.

I think Ops Co will secure the projects, do the design and sub-contract to SM to do the construction. I think this is the way moving forward.

Then I think SM will take over some of the yards.

Just my speculation...

bystander1965      ( Date: 01-Feb-2021 20:40) Posted:

That' s why better said David was confused. laugh
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naoshingo
Elite
01-Feb-2021 21:27     
 
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 Alert Admin 		hmm...I have to side with David.
Dev & Rig Co would be the mergering entities.
Ops Co as CEO Loh Chin Hua had said, it will remained as a Keppel entity,
While Dev & Rig Co are transient entity.

I think Ops Co will secure the projects, do the design and sub-contract to SM to do the construction. I think this is the way moving forward.

Then I think SM will take over some of the yards.

Just my speculation...

bystander1965      ( Date: 01-Feb-2021 20:40) Posted:

That' s why better said David was confused. laugh

naoshingo      ( Date: 01-Feb-2021 20:30) Posted:

Friend, my apology that I didn' t state clearly.
What I' ve quoted below is from David Kuo...
He is the one who said it is the logical solution to merge Dev & Rig Co.

Ops Co is the renewables, would KC let off? 
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bystander1965
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01-Feb-2021 20:40     
 
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 Alert Admin 		That' s why better said David was confused. laugh

naoshingo      ( Date: 01-Feb-2021 20:30) Posted:

Friend, my apology that I didn' t state clearly.
What I' ve quoted below is from David Kuo...
He is the one who said it is the logical solution to merge Dev & Rig Co.

Ops Co is the renewables, would KC let off? 

bystander1965      ( Date: 01-Feb-2021 19:42) Posted:

Rig and Dev co are for them to finish off their rig projects on hand. After that these 2 will probably " disappear" , sold or write-off. If SMM is backing away from rigs, why would it want to pick up all these " assets" or " liability" ? This is the one that is dragging down KOM. Why would SMM want to take them on board to relieve KC, and then let KC compete with them using Op co on FPSO and the like? The latter SMM is heavily involved (at least 8 or 9 current projects are in this field)
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