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Mermaid Maritime
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Mermaid Maritime
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onionknight
Veteran |
29-Jan-2018 13:35
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Thanks but whether you " accept" or not means nothing to me. I am not vested yet nor do I plan to short this counter. So my motivation of posting is to share a fuller picture like outlook, asset management, vessel utilization, its investment liability and revenue sustainability other than just the cash you chose to highlight on. And I had to rebuke your statement because: - First thing you said is I have shared outdated information, but then you quoted the same order figure yourself (scratching my head) - Then you go ahead and share an even older article (still scratching) - Try to play down the AOD debt but cannot provide any concrete supporting facts - criticised that what I shared was outdated and order me to clarify the misunderstanding, but cannot deny that 1) they havent won any new contracts since last year Aug 2) only one of their vessels (Asiana) has assignment, the rest are still dry docked. Let me ask you: how are these outdated information if they still hold true? All you can talk about is their spare cash and they invested in a cambodian company but SO WHAT? they have so much cash but have they given out any dividents in the past 2 FY? But for what it is worth, I can still somewhat engage in a proper discussion with you here because unlike in midas forum you just shouted crap like " falling knives" to spread fear, in this forum you are still trying to be somewhat factual. but try harder.
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commando
Master |
29-Jan-2018 13:31
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Yes tks for sharing yr view | ||||
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WL123456
Supreme |
29-Jan-2018 13:10
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Ok I can accept your statement on this . Different folks different stokes. You see 2H18, I see now. Anyway both are forward looking . I will respect your view . Thanks for sharing .
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onionknight
Veteran |
29-Jan-2018 12:11
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say what I found from analyst report published in 12 Jan " outdated" , but share an article published last year december.. sorry the irony is just too much for me not to mock at it. haha http://research.sginvestors.io/2018/01/mermaid-maritime-cimb-research-2018-01-12.html
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onionknight
Veteran |
29-Jan-2018 12:08
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Regardless of the date but what I stated there still apply, I am not saying that mermaid is a bad counter, just the first Q18 is not the best time to enter. 2H18 maybe better. The only drilling contract it has won now is its Asiana vessel currently operating at middle east, won last year aug-sep which means mermaid has not benefited from the oil recovery yet. currently it has 3 vessels dry docking. until it wins another contract from now on, you can' t say that mermaid is riding on the oil recovery wave. it has not even sniff it yet. AOD situation is getting ' better' you say, but ' good' enough to settle its 200 Million debt by april? you may disagree but I am just trying to include a fuller picture incl. outlook, asset management, vessel utilization, its investment liability and revenue sustainability. since when everything is about cash cash cash? |
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WL123456
Supreme |
29-Jan-2018 11:40
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An article by a covering analyst from Wall Street :
https://simplywall.st/stocks/sg/energy/sgx-du4/mermaid-maritime-shares/news/should-you-buy-mermaid-maritime-public-company-limited-sgxdu4-now/ |
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WL123456
Supreme |
29-Jan-2018 11:26
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You are posting something that?s outdated. Please quote the date as it?s misleading .
Anyway just to update : the AOD situation is getijnf better as the day rates have been increasing due to demand as oil prices surge . AOD has contracts secured till 2019. Current order books stands at USD $174 million. I can safely say the next FR will be better than the previous . Most importantly mermaid is the best capitalised in O and G . Revenue has been improving due to successful implementation of cost cutting . Excess cash to invest in properties show no debt constraint. Most of its LT debts maturity profile are 4 years onwards and it currently has more cash than debts . How many in the O and G has this ratio ? Non.
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onionknight
Veteran |
29-Jan-2018 11:08
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Mermaid' s outlook in 2018: - 1Q18 looks to inccur potential losses as the 3 vessels Commander, Endurer, and Asiana have to undergo drydocking, and there looks to be limited visibility on workload (aside from the Asiana) for the rest of the year. This is already after a net loss of 2.04 million in 3Q17. - 25% of its equity invested in AOD, which has 200 million of debt due in April, and a subsidiary of Seadrill which has already filed for bankruptcy last year. - 49% of stake invested in cambodia company unlikely to generate income in the near future, while current orderbook of 174 million is only sufficient for 15 months of revenue - cost cutting ceiling reached, FY18-19F EPS cut by~20% due to lower revenue and higher costs. - current TP by cimb and dbs: 0.14-0.142 The consensus is 2H2018 will be a better time to enter this counter, once the dusts surrounding AOD settles and whether they manage to secure anymore contracts to sustain their revenue. For now it is better to trade with caution. |
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WL123456
Supreme |
29-Jan-2018 10:47
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👍 . You are in good company .
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SgYuan
Supreme |
29-Jan-2018 10:37
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Surprise the correction is so little. It break 164 and start EW, but too fast. Saw the 5m bollinger squeeze on 26Jan 14:45 @161. No gut to enter. Sad EW uptrend start 161 w1 170 w2?165 w3?179 w4?174 w5 183 w1 9 w2 5, correct base on 38.2% w3 14 w4 5 w5 9 w2 correction may be less. 5m chart 160-166-172 uptrend After lunch, the mid should move to 168. 15m 157-164-170 uptrend. After lunch, the mid should move to 166 Loaded 1st batch @168. Will load again if go down.
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WL123456
Supreme |
29-Jan-2018 09:32
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I will wait . I have a TP of at least 0.20 this cash rich firm . Best O & G counter . No default risk as it?s cash rich . Nice supply of contracts plus oil now trading at all time high for past 5 years . There should be more contract annoucement soon as demand for their advices should rocket . Management also shows diversification by buying land in Cambodia to be more efficient with their cash reserve . 0.17 too cheap for this company .
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chillipadi
Elite |
29-Jan-2018 09:31
Yells: "Everything is temporary." |
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W2 tgt px is...?
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SgYuan
Supreme |
29-Jan-2018 09:27
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Come too fast. Wait for w2.
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chillipadi
Elite |
29-Jan-2018 09:21
Yells: "Everything is temporary." |
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HeI only bring my bikini and towel... =D
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WL123456
Supreme |
29-Jan-2018 09:20
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Hahahah, I bought a lot a lot of stuff last week . Sun shade , sunblock , cooler , etc . Make sure I had a good swim lol . I hope you too .
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chillipadi
Elite |
29-Jan-2018 09:16
Yells: "Everything is temporary." |
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swimming... =D | ||||
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SgYuan
Supreme |
29-Jan-2018 09:16
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Chasing, May not get
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WL123456
Supreme |
29-Jan-2018 09:13
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Yuan , got being your swimming trunk ? Heheh
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SgYuan
Supreme |
25-Jan-2018 18:35
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Px 162 The wave 1 to 5 completed from 120 to 164. But no sign of wave abc correction cycle. The abc correction definately won' t hit near w4 137 By bollinger, 15m 161 162 163 30m 160 162 164 1h 158 161 164 2h 154 160 165 4h 145 156 166. Now Trend on 30m chart. - It should test 30m low bolling @ 160 If px break 164, very strange but next EW start.
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WL123456
Supreme |
25-Jan-2018 16:23
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i am not sure about 0.30 but 0.20 sure look possible. They have an excess of cash so its possible that the do a dividend this year. They have excess cash till they invest in property which will be good as cambodia is growing and property prices are rising. Heres the article where many missed: MERMAID Maritime has entered into a shares sale and purchase agreement for a 49 per cent interest in PTGC Co, a company incorporated in Cambodia, for US$19.7 million. Following the acquisition, PTGC will become an associated company of Mermaid Maritime. PTGC' s primary asset is legal and beneficial ownership of land in Phnom Penh, Cambodia. The seller is Leng Kheang, a 100 per cent owner of the total issued shares of PTGC prior to the entry into the agreement with Mermaid Maritime. The purchase consideration sum took into account fair market valuation done on the property by established valuation companies, according to Mermaid Maritime. In a filing to the Singapore Exchange, the company said that the investment in PTGC is " in line with its treasury function to maintain a portfolio of suitable investments of its cash reserves while preserving its liquidity for business operations" The investment may also potentially provide a source of investment returns for the company in the future given Cambodia' s economic outlook. The property has resale potential and residential or commercial development potential, added Mermaid Maritime.
It noted: " After taking into consideration other options available for cash management at this present time in this challenging oil and gas industry and the cost and benefits of the acquisition, the board considered that the acquisition is in the best interest of the company."
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