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MANFREDTMK Master	04-Apr-2022 09:42        MANFREDTMK About Contact  Quote this Post!
x 0   x 0  Alert Admin	Happy to know Chag Tai Tai is cuming soon. 🥰 Chagataii      ( Date: 04-Apr-2022 09:36) Posted: Runaway Train.. to 20 end then see how hold for 3 yrs or more 🤷 ‍ ♂ ️
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dcproperty Senior	04-Apr-2022 09:40        dcproperty About Contact  Quote this Post!
x 0   x 1  Alert Admin	If the profit margin is 8%. The total contract value as you mentioned is $6.5b, that works out to be $520m (0.08 x $6.5). Besides, TH is having KOM to absorb some of losses on legacy, completed, uncompleted but under receivable rigs. Does not a win win situation? Who is give KOM $500m is Keppel is not having outstanding contracts?  Furthermore, Keppel wants to exit from O & M, why still holding on to 20%, 0r 30% shares on the combined/ enlarged SM? Must as well stay alone for both SM and KOM now?  chart_expert123      ( Date: 04-Apr-2022 09:08) Posted: In short, we can say that it is a merging or acquisition for item (1). And Keppel is getting $500m cash. Whilst, the enlarged SM will get higher NAV, and contract values. No new SM shares will be distributed. This is completely misleading. Keppel corp shareholders will vote for No without a fair value return to discharge SCM. This fair value shall be cash + SCM Shares exchange. To Keppel Corp shareholders, Keppel O& M worst is over, and holding reputable brand name and 6.5Bil order book. Keppel Corp can keep Keppel O& M with them for next glory and wait for the Doom of SCM to take over the SCM Tuas yard. Temasek have 100% control on SCM but 0% control on Keppel Corp. Temasek shareholding in SCM is  50%. But Temasek in Keppel is less than 21%. Your opinion is purely a joke and biased. dcproperty      ( Date: 04-Apr-2022 08:53) Posted: Good morning all. My interpreting, based on Keppel Annual report 2021, Page 48 as below:- 1) To combine KOM and SM into one entity. 2) To set up another separate asset co. 3) Parallel and inter-conditional   Further explanations:- 1) To combine KOM and SM into one entity. Since KOM is not a listed company, It shall be given $500m, as suggested by those previous reports. And all the KOM contracts, assets that are not classified as legacy, completed and uncompleted rigs and associated receivables, are to be merged into SM. That means SM' s balance sheet, NAV and contract value would be increased significantly. No new shares will be added. One party gets the money, whilest the other get all the assets not classified as " legacy, completed, uncompleted but under receiveables.  2) To set up another separate asset co. Under this asset co, it has nothing to do with SM. It is purely between Keppel and Temasek (Kyanite). And it is selling to external party 3) Parallel and inter-conditional Under " Memorandums of Understanding (MOUs)" , the item (1) and (2) have to be bound together. Which means, if they have a problem with the external investor on (2), the merging on (1) will not move. Likewise, if they have issues in merging KOM into SM, part (1), item (2) will not go again. In short, we can say that it is a merging or acquisition for item (1). And Keppel is getting $500m cash. Whilst, the enlarged SM will get higher NAV, and contract values. No new SM shares will be distributed. And (2) it has nothing to do with SM. It is between Keppel, TH and external investors.   Above are my personal takes, based on the report. ****** Keppel Corporation Annual Report 2021 file:///D:/1-A.Share%20Checklist/Keppel%20Corp/KCL_Annual%20Report%202021.pdf On Page 48 BUSINESS TRANSFORMATION At the start of 2021, Keppel announced a comprehensive transformation of Keppel O& M to enhance its competitiveness and relevance amidst the global energy transition, as well as its exit from the oil rig building business, after completing the existing rigs under construction. This was followed in June by the signing of Memorandums of Understanding (MOUs) for the proposed combination of Keppel O& M and Sembcorp Marine, including the resolution of Keppel O& M&rsquo s legacy rigs, as part of Keppel&rsquo s efforts to be more disciplined and refocus its portfolio. The proposed COMBINATION of Keppel O& M and Sembcorp Marine seeks to create a stronger combined entity that would be better positioned to capitalise on growing opportunities in the O& M, renewables and clean energy sectors. The proposed combination RUNS IN PARALLEL AND IS INTER-CONDITIONAL with another proposed transaction to sell Keppel O& M&rsquo s legacy completed and uncompleted rigs and associated receivables TO A SEPARATE ASSET CO, which would be majority owned by external investors to be procured by Kyanite Investment Holdings, a wholly-owned subsidiary of Temasek. Discussions on the proposed transactions are progressing steadily and Keppel is working towards signing definitive agreements by the end of 1Q 2022 If the proposed transactions are successfully completed, Keppel will become much more streamlined, asset light and focused on renewables, new energy, decarbonisation and environmental solutions.
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Chagataii Veteran	04-Apr-2022 09:36        Chagataii About Contact  Quote this Post!
x 0   x 0  Alert Admin	Runaway Train.. to 20 end then see how hold for 3 yrs or more 🤷 ‍ ♂ ️
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ICXGOLD Master	04-Apr-2022 09:34        ICXGOLD About Contact  Quote this Post!
x 0   x 0  Alert Admin	Sorry its a up day for SCM, they all took MC    will be back when they see red
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MANFREDTMK Master	04-Apr-2022 09:22        MANFREDTMK About Contact  Quote this Post!
x 0   x 0  Alert Admin	Show us your MATHS to support your claim. We want to know your standards chart_expert123      ( Date: 04-Apr-2022 09:08) Posted: In short, we can say that it is a merging or acquisition for item (1). And Keppel is getting $500m cash. Whilst, the enlarged SM will get higher NAV, and contract values. No new SM shares will be distributed. This is completely misleading. Keppel corp shareholders will vote for No without a fair value return to discharge SCM. This fair value shall be cash + SCM Shares exchange. To Keppel Corp shareholders, Keppel O& M worst is over, and holding reputable brand name and 6.5Bil order book. Keppel Corp can keep Keppel O& M with them for next glory and wait for the Doom of SCM to take over the SCM Tuas yard. Temasek have 100% control on SCM but 0% control on Keppel Corp. Temasek shareholding in SCM is  50%. But Temasek in Keppel is less than 21%. Your opinion is purely a joke and biased. dcproperty      ( Date: 04-Apr-2022 08:53) Posted: Good morning all. My interpreting, based on Keppel Annual report 2021, Page 48 as below:- 1) To combine KOM and SM into one entity. 2) To set up another separate asset co. 3) Parallel and inter-conditional   Further explanations:- 1) To combine KOM and SM into one entity. Since KOM is not a listed company, It shall be given $500m, as suggested by those previous reports. And all the KOM contracts, assets that are not classified as legacy, completed and uncompleted rigs and associated receivables, are to be merged into SM. That means SM' s balance sheet, NAV and contract value would be increased significantly. No new shares will be added. One party gets the money, whilest the other get all the assets not classified as " legacy, completed, uncompleted but under receiveables.  2) To set up another separate asset co. Under this asset co, it has nothing to do with SM. It is purely between Keppel and Temasek (Kyanite). And it is selling to external party 3) Parallel and inter-conditional Under " Memorandums of Understanding (MOUs)" , the item (1) and (2) have to be bound together. Which means, if they have a problem with the external investor on (2), the merging on (1) will not move. Likewise, if they have issues in merging KOM into SM, part (1), item (2) will not go again. In short, we can say that it is a merging or acquisition for item (1). And Keppel is getting $500m cash. Whilst, the enlarged SM will get higher NAV, and contract values. No new SM shares will be distributed. And (2) it has nothing to do with SM. It is between Keppel, TH and external investors.   Above are my personal takes, based on the report. ****** Keppel Corporation Annual Report 2021 file:///D:/1-A.Share%20Checklist/Keppel%20Corp/KCL_Annual%20Report%202021.pdf On Page 48 BUSINESS TRANSFORMATION At the start of 2021, Keppel announced a comprehensive transformation of Keppel O& M to enhance its competitiveness and relevance amidst the global energy transition, as well as its exit from the oil rig building business, after completing the existing rigs under construction. This was followed in June by the signing of Memorandums of Understanding (MOUs) for the proposed combination of Keppel O& M and Sembcorp Marine, including the resolution of Keppel O& M&rsquo s legacy rigs, as part of Keppel&rsquo s efforts to be more disciplined and refocus its portfolio. The proposed COMBINATION of Keppel O& M and Sembcorp Marine seeks to create a stronger combined entity that would be better positioned to capitalise on growing opportunities in the O& M, renewables and clean energy sectors. The proposed combination RUNS IN PARALLEL AND IS INTER-CONDITIONAL with another proposed transaction to sell Keppel O& M&rsquo s legacy completed and uncompleted rigs and associated receivables TO A SEPARATE ASSET CO, which would be majority owned by external investors to be procured by Kyanite Investment Holdings, a wholly-owned subsidiary of Temasek. Discussions on the proposed transactions are progressing steadily and Keppel is working towards signing definitive agreements by the end of 1Q 2022 If the proposed transactions are successfully completed, Keppel will become much more streamlined, asset light and focused on renewables, new energy, decarbonisation and environmental solutions.
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chart_expert123 Master	04-Apr-2022 09:08        chart_expert123 About Contact  Quote this Post!   Yells: "Only buy stock with revenue or net cash flow growth!!!!"
x 0   x 1  Alert Admin	In short, we can say that it is a merging or acquisition for item (1). And Keppel is getting $500m cash. Whilst, the enlarged SM will get higher NAV, and contract values. No new SM shares will be distributed. This is completely misleading. Keppel corp shareholders will vote for No without a fair value return to discharge SCM. This fair value shall be cash + SCM Shares exchange. To Keppel Corp shareholders, Keppel O& M worst is over, and holding reputable brand name and 6.5Bil order book. Keppel Corp can keep Keppel O& M with them for next glory and wait for the Doom of SCM to take over the SCM Tuas yard. Temasek have 100% control on SCM but 0% control on Keppel Corp. Temasek shareholding in SCM is  50%. But Temasek in Keppel is less than 21%. Your opinion is purely a joke and biased. dcproperty      ( Date: 04-Apr-2022 08:53) Posted: Good morning all. My interpreting, based on Keppel Annual report 2021, Page 48 as below:- 1) To combine KOM and SM into one entity. 2) To set up another separate asset co. 3) Parallel and inter-conditional   Further explanations:- 1) To combine KOM and SM into one entity. Since KOM is not a listed company, It shall be given $500m, as suggested by those previous reports. And all the KOM contracts, assets that are not classified as legacy, completed and uncompleted rigs and associated receivables, are to be merged into SM. That means SM' s balance sheet, NAV and contract value would be increased significantly. No new shares will be added. One party gets the money, whilest the other get all the assets not classified as " legacy, completed, uncompleted but under receiveables.  2) To set up another separate asset co. Under this asset co, it has nothing to do with SM. It is purely between Keppel and Temasek (Kyanite). And it is selling to external party 3) Parallel and inter-conditional Under " Memorandums of Understanding (MOUs)" , the item (1) and (2) have to be bound together. Which means, if they have a problem with the external investor on (2), the merging on (1) will not move. Likewise, if they have issues in merging KOM into SM, part (1), item (2) will not go again. In short, we can say that it is a merging or acquisition for item (1). And Keppel is getting $500m cash. Whilst, the enlarged SM will get higher NAV, and contract values. No new SM shares will be distributed. And (2) it has nothing to do with SM. It is between Keppel, TH and external investors.   Above are my personal takes, based on the report. ****** Keppel Corporation Annual Report 2021 file:///D:/1-A.Share%20Checklist/Keppel%20Corp/KCL_Annual%20Report%202021.pdf On Page 48 BUSINESS TRANSFORMATION At the start of 2021, Keppel announced a comprehensive transformation of Keppel O& M to enhance its competitiveness and relevance amidst the global energy transition, as well as its exit from the oil rig building business, after completing the existing rigs under construction. This was followed in June by the signing of Memorandums of Understanding (MOUs) for the proposed combination of Keppel O& M and Sembcorp Marine, including the resolution of Keppel O& M&rsquo s legacy rigs, as part of Keppel&rsquo s efforts to be more disciplined and refocus its portfolio. The proposed COMBINATION of Keppel O& M and Sembcorp Marine seeks to create a stronger combined entity that would be better positioned to capitalise on growing opportunities in the O& M, renewables and clean energy sectors. The proposed combination RUNS IN PARALLEL AND IS INTER-CONDITIONAL with another proposed transaction to sell Keppel O& M&rsquo s legacy completed and uncompleted rigs and associated receivables TO A SEPARATE ASSET CO, which would be majority owned by external investors to be procured by Kyanite Investment Holdings, a wholly-owned subsidiary of Temasek. Discussions on the proposed transactions are progressing steadily and Keppel is working towards signing definitive agreements by the end of 1Q 2022 If the proposed transactions are successfully completed, Keppel will become much more streamlined, asset light and focused on renewables, new energy, decarbonisation and environmental solutions.
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dcproperty Senior	04-Apr-2022 09:04        dcproperty About Contact  Quote this Post!
x 0   x 0  Alert Admin	The valuation of SM, contract value, NAV will increase. Of course, it has chance for cash distribution from Keppel, from those $500m receivable.  MANFREDTMK      ( Date: 04-Apr-2022 09:00) Posted: In short, still got meat, Japanese Wagu beef dcproperty      ( Date: 04-Apr-2022 08:53) Posted: Good morning all. My interpreting, based on Keppel Annual report 2021, Page 48 as below:- 1) To combine KOM and SM into one entity. 2) To set up another separate asset co. 3) Parallel and inter-conditional   Further explanations:- 1) To combine KOM and SM into one entity. Since KOM is not a listed company, It shall be given $500m, as suggested by those previous reports. And all the KOM contracts, assets that are not classified as legacy, completed and uncompleted rigs and associated receivables, are to be merged into SM. That means SM' s balance sheet, NAV and contract value would be increased significantly. No new shares will be added. One party gets the money, whilest the other get all the assets not classified as " legacy, completed, uncompleted but under receiveables.  2) To set up another separate asset co. Under this asset co, it has nothing to do with SM. It is purely between Keppel and Temasek (Kyanite). And it is selling to external party 3) Parallel and inter-conditional Under " Memorandums of Understanding (MOUs)" , the item (1) and (2) have to be bound together. Which means, if they have a problem with the external investor on (2), the merging on (1) will not move. Likewise, if they have issues in merging KOM into SM, part (1), item (2) will not go again. In short, we can say that it is a merging or acquisition for item (1). And Keppel is getting $500m cash. Whilst, the enlarged SM will get higher NAV, and contract values. No new SM shares will be distributed. And (2) it has nothing to do with SM. It is between Keppel, TH and external investors.   Above are my personal takes, based on the report. ****** Keppel Corporation Annual Report 2021 file:///D:/1-A.Share%20Checklist/Keppel%20Corp/KCL_Annual%20Report%202021.pdf On Page 48 BUSINESS TRANSFORMATION At the start of 2021, Keppel announced a comprehensive transformation of Keppel O& M to enhance its competitiveness and relevance amidst the global energy transition, as well as its exit from the oil rig building business, after completing the existing rigs under construction. This was followed in June by the signing of Memorandums of Understanding (MOUs) for the proposed combination of Keppel O& M and Sembcorp Marine, including the resolution of Keppel O& M&rsquo s legacy rigs, as part of Keppel&rsquo s efforts to be more disciplined and refocus its portfolio. The proposed COMBINATION of Keppel O& M and Sembcorp Marine seeks to create a stronger combined entity that would be better positioned to capitalise on growing opportunities in the O& M, renewables and clean energy sectors. The proposed combination RUNS IN PARALLEL AND IS INTER-CONDITIONAL with another proposed transaction to sell Keppel O& M&rsquo s legacy completed and uncompleted rigs and associated receivables TO A SEPARATE ASSET CO, which would be majority owned by external investors to be procured by Kyanite Investment Holdings, a wholly-owned subsidiary of Temasek. Discussions on the proposed transactions are progressing steadily and Keppel is working towards signing definitive agreements by the end of 1Q 2022 If the proposed transactions are successfully completed, Keppel will become much more streamlined, asset light and focused on renewables, new energy, decarbonisation and environmental solutions.
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MANFREDTMK Master	04-Apr-2022 09:00        MANFREDTMK About Contact  Quote this Post!
x 0   x 0  Alert Admin	In short, still got meat, Japanese Wagu beef dcproperty      ( Date: 04-Apr-2022 08:53) Posted: Good morning all. My interpreting, based on Keppel Annual report 2021, Page 48 as below:- 1) To combine KOM and SM into one entity. 2) To set up another separate asset co. 3) Parallel and inter-conditional   Further explanations:- 1) To combine KOM and SM into one entity. Since KOM is not a listed company, It shall be given $500m, as suggested by those previous reports. And all the KOM contracts, assets that are not classified as legacy, completed and uncompleted rigs and associated receivables, are to be merged into SM. That means SM' s balance sheet, NAV and contract value would be increased significantly. No new shares will be added. One party gets the money, whilest the other get all the assets not classified as " legacy, completed, uncompleted but under receiveables.  2) To set up another separate asset co. Under this asset co, it has nothing to do with SM. It is purely between Keppel and Temasek (Kyanite). And it is selling to external party 3) Parallel and inter-conditional Under " Memorandums of Understanding (MOUs)" , the item (1) and (2) have to be bound together. Which means, if they have a problem with the external investor on (2), the merging on (1) will not move. Likewise, if they have issues in merging KOM into SM, part (1), item (2) will not go again. In short, we can say that it is a merging or acquisition for item (1). And Keppel is getting $500m cash. Whilst, the enlarged SM will get higher NAV, and contract values. No new SM shares will be distributed. And (2) it has nothing to do with SM. It is between Keppel, TH and external investors.   Above are my personal takes, based on the report. ****** Keppel Corporation Annual Report 2021 file:///D:/1-A.Share%20Checklist/Keppel%20Corp/KCL_Annual%20Report%202021.pdf On Page 48 BUSINESS TRANSFORMATION At the start of 2021, Keppel announced a comprehensive transformation of Keppel O& M to enhance its competitiveness and relevance amidst the global energy transition, as well as its exit from the oil rig building business, after completing the existing rigs under construction. This was followed in June by the signing of Memorandums of Understanding (MOUs) for the proposed combination of Keppel O& M and Sembcorp Marine, including the resolution of Keppel O& M&rsquo s legacy rigs, as part of Keppel&rsquo s efforts to be more disciplined and refocus its portfolio. The proposed COMBINATION of Keppel O& M and Sembcorp Marine seeks to create a stronger combined entity that would be better positioned to capitalise on growing opportunities in the O& M, renewables and clean energy sectors. The proposed combination RUNS IN PARALLEL AND IS INTER-CONDITIONAL with another proposed transaction to sell Keppel O& M&rsquo s legacy completed and uncompleted rigs and associated receivables TO A SEPARATE ASSET CO, which would be majority owned by external investors to be procured by Kyanite Investment Holdings, a wholly-owned subsidiary of Temasek. Discussions on the proposed transactions are progressing steadily and Keppel is working towards signing definitive agreements by the end of 1Q 2022 If the proposed transactions are successfully completed, Keppel will become much more streamlined, asset light and focused on renewables, new energy, decarbonisation and environmental solutions.
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dcproperty Senior	04-Apr-2022 08:53        dcproperty About Contact  Quote this Post!
x 0   x 0  Alert Admin	Good morning all. My interpreting, based on Keppel Annual report 2021, Page 48 as below:- 1) To combine KOM and SM into one entity. 2) To set up another separate asset co. 3) Parallel and inter-conditional   Further explanations:- 1) To combine KOM and SM into one entity. Since KOM is not a listed company, It shall be given $500m, as suggested by those previous reports. And all the KOM contracts, assets that are not classified as legacy, completed and uncompleted rigs and associated receivables, are to be merged into SM. That means SM' s balance sheet, NAV and contract value would be increased significantly. No new shares will be added. One party gets the money, whilest the other get all the assets not classified as " legacy, completed, uncompleted but under receiveables.  2) To set up another separate asset co. Under this asset co, it has nothing to do with SM. It is purely between Keppel and Temasek (Kyanite). And it is selling to external party 3) Parallel and inter-conditional Under " Memorandums of Understanding (MOUs)" , the item (1) and (2) have to be bound together. Which means, if they have a problem with the external investor on (2), the merging on (1) will not move. Likewise, if they have issues in merging KOM into SM, part (1), item (2) will not go again. In short, we can say that it is a merging or acquisition for item (1). And Keppel is getting $500m cash. Whilst, the enlarged SM will get higher NAV, and contract values. No new SM shares will be distributed. And (2) it has nothing to do with SM. It is between Keppel, TH and external investors.   Above are my personal takes, based on the report. ****** Keppel Corporation Annual Report 2021 file:///D:/1-A.Share%20Checklist/Keppel%20Corp/KCL_Annual%20Report%202021.pdf On Page 48 BUSINESS TRANSFORMATION At the start of 2021, Keppel announced a comprehensive transformation of Keppel O& M to enhance its competitiveness and relevance amidst the global energy transition, as well as its exit from the oil rig building business, after completing the existing rigs under construction. This was followed in June by the signing of Memorandums of Understanding (MOUs) for the proposed combination of Keppel O& M and Sembcorp Marine, including the resolution of Keppel O& M&rsquo s legacy rigs, as part of Keppel&rsquo s efforts to be more disciplined and refocus its portfolio. The proposed COMBINATION of Keppel O& M and Sembcorp Marine seeks to create a stronger combined entity that would be better positioned to capitalise on growing opportunities in the O& M, renewables and clean energy sectors. The proposed combination RUNS IN PARALLEL AND IS INTER-CONDITIONAL with another proposed transaction to sell Keppel O& M&rsquo s legacy completed and uncompleted rigs and associated receivables TO A SEPARATE ASSET CO, which would be majority owned by external investors to be procured by Kyanite Investment Holdings, a wholly-owned subsidiary of Temasek. Discussions on the proposed transactions are progressing steadily and Keppel is working towards signing definitive agreements by the end of 1Q 2022 If the proposed transactions are successfully completed, Keppel will become much more streamlined, asset light and focused on renewables, new energy, decarbonisation and environmental solutions.
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ahbui8 Master	02-Apr-2022 23:34        ahbui8 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Keppel also wishes to update that significant progress has been made on advancing the sale of Keppel O& M&rsquo s legacy rigs and associated receivables to a separate company (&ldquo Asset Co&rdquo ) that would be majority owned by external investors. As previously announced, this Asset Co transaction and the Proposed Combination will be inter-conditional and are being pursued concurrently. From above announcement and with TH really to invest fresh fund into the combined entity, I believed Keppel SH only get free shares of max 25% of the combined entity. MANFREDTMK      ( Date: 02-Apr-2022 23:04) Posted: Finally, from Better's posting, it's highly likely that Temasek will inject cash. First it is necessary to make up for the deficiency in SM's valuation if Keppel has the bargaining power so that the deal can be successful. Second, to address the issue of dilution. Third, to ensure that NEWCO will be well capitalized to take on bigger projects and hence will not fail. The subsequent JV with Keppel ensure that Keppel will have the incentive to pass on any ancillary projects back to NEWCO and no one else. In short, 12 cents would be proper. Let's pray hard 🙏 🙏 🙏 MANFREDTMK      ( Date: 02-Apr-2022 22:25) Posted: Yes, I always see this as an acquisition, the merger of assets is merely a byproduct of the former. We sell before NEWCO is born. The liquidity is still intact, not to worry too much, enough for us to exit gracefully
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MANFREDTMK Master	02-Apr-2022 23:04        MANFREDTMK About Contact  Quote this Post!
x 0   x 0  Alert Admin	Finally, from Better's posting, it's highly likely that Temasek will inject cash. First it is necessary to make up for the deficiency in SM's valuation if Keppel has the bargaining power so that the deal can be successful. Second, to address the issue of dilution. Third, to ensure that NEWCO will be well capitalized to take on bigger projects and hence will not fail. The subsequent JV with Keppel ensure that Keppel will have the incentive to pass on any ancillary projects back to NEWCO and no one else. In short, 12 cents would be proper. Let's pray hard 🙏 🙏 🙏 MANFREDTMK      ( Date: 02-Apr-2022 22:25) Posted: Yes, I always see this as an acquisition, the merger of assets is merely a byproduct of the former. We sell before NEWCO is born. The liquidity is still intact, not to worry too much, enough for us to exit gracefully ICXGOLD      ( Date: 02-Apr-2022 22:15) Posted: Better suggestion in No. 2, is that there maybe no need for forming newco as SCM would become the newc
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MANFREDTMK Master	02-Apr-2022 22:25        MANFREDTMK About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yes, I always see this as an acquisition, the merger of assets is merely a byproduct of the former. We sell before NEWCO is born. The liquidity is still intact, not to worry too much, enough for us to exit gracefully ICXGOLD      ( Date: 02-Apr-2022 22:15) Posted: Better suggestion in No. 2, is that there maybe no need for forming newco as SCM would become the newco better      ( Date: 02-Apr-2022 15:33) Posted: 1) Yes, SM will be the acquiring entity as it is already listed. Any other way will be much more complicated as you have to delist/ buyout SM and then list the combined entity again later after merger. Much too troublesome. 2) No newco need to be formed. After SM acquires KOM through issuing shares and maybe partial pay in cash, SM will be called the " combined entity" . However, the tabled merger deal needs to get the approval of KC and SM' s shareholders with Temasek having to abstain from voting. Temasek has to abstain from SM' s voting because they own 20% of KC. They must abstain from KC' s voting because they own 55% of SM.  KC cannot keep SM shares and must distribute them to their shareholders as Temasek usually prefer direct shareholding vs grandfather/ Korean style shareholding. Like A owns 30% of B and 51% of C and C owns 21% of B, so A effectively has majority control of B (Korean style). 3) It is likely to involve $1-2 billion cash injection from Temasek, just a matter of how they are going to do it.  4 reasons for that: a) To maintain their ownership of the combined entity at above 50% b) Before KC transfer KOM' s assets to SM, they would very likely extract all the cash/ liquidity from KOM.  KOM probably need about $1 billion cash/ running capital to see through their existing projects ex legacy rigs. If it is just a simple $2bil+ $4bil combination, the cash in SM will have to be used for the running capital of KOM existing projects. While that is possible, it might be a bit stretched and would not give the combined entity much room to mega projects. c) On KC&rsquo s side, they need to pay off $4+billion of debt this year, most of them related to KOM. Without some cash on the table to sweeten the deal for KC and existing SM shareholders (with a special dividend of sort), the deal might not be approved during the voting. d) SM is currently trading at below book value. KC will likely want to sell KOM at at least book value.   That is an impasse for the merger. That means either SM have to issue a lot more shares to KC (SM share price being the exchange rate) or KC have to agree to sell KOM at below book value. As Temasek owns 55% of SM, it is of course to their interest to issue as little SM shares as possible to KC.  The cash from Temasek can be used to repriced SM share price so the numbers can work out for both KC and SM shareholders. That&rsquo s my dominant merger scenario is some version of my original Option 2 scenario explained in my previous post
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ICXGOLD Master	02-Apr-2022 22:15        ICXGOLD About Contact  Quote this Post!
x 0   x 0  Alert Admin	Better suggestion in No. 2, is that there maybe no need for forming newco as SCM would become the newco better      ( Date: 02-Apr-2022 15:33) Posted: 1) Yes, SM will be the acquiring entity as it is already listed. Any other way will be much more complicated as you have to delist/ buyout SM and then list the combined entity again later after merger. Much too troublesome. 2) No newco need to be formed. After SM acquires KOM through issuing shares and maybe partial pay in cash, SM will be called the " combined entity" . However, the tabled merger deal needs to get the approval of KC and SM' s shareholders with Temasek having to abstain from voting. Temasek has to abstain from SM' s voting because they own 20% of KC. They must abstain from KC' s voting because they own 55% of SM.  KC cannot keep SM shares and must distribute them to their shareholders as Temasek usually prefer direct shareholding vs grandfather/ Korean style shareholding. Like A owns 30% of B and 51% of C and C owns 21% of B, so A effectively has majority control of B (Korean style). 3) It is likely to involve $1-2 billion cash injection from Temasek, just a matter of how they are going to do it.  4 reasons for that: a) To maintain their ownership of the combined entity at above 50% b) Before KC transfer KOM' s assets to SM, they would very likely extract all the cash/ liquidity from KOM.  KOM probably need about $1 billion cash/ running capital to see through their existing projects ex legacy rigs. If it is just a simple $2bil+ $4bil combination, the cash in SM will have to be used for the running capital of KOM existing projects. While that is possible, it might be a bit stretched and would not give the combined entity much room to mega projects. c) On KC&rsquo s side, they need to pay off $4+billion of debt this year, most of them related to KOM. Without some cash on the table to sweeten the deal for KC and existing SM shareholders (with a special dividend of sort), the deal might not be approved during the voting. d) SM is currently trading at below book value. KC will likely want to sell KOM at at least book value.   That is an impasse for the merger. That means either SM have to issue a lot more shares to KC (SM share price being the exchange rate) or KC have to agree to sell KOM at below book value. As Temasek owns 55% of SM, it is of course to their interest to issue as little SM shares as possible to KC.  The cash from Temasek can be used to repriced SM share price so the numbers can work out for both KC and SM shareholders. That&rsquo s my dominant merger scenario is some version of my original Option 2 scenario explained in my previous post   PHInsider63      ( Date: 02-Apr-2022 05:45) Posted: Thanks bro better Based on what was contributed and if those hold water, am I right to state: 1. SM will remain as the listco and the acquiring entity. 2. A newco aka Common Entity will be formed to merge KOM and SM assets under SM. In other words, SM will issue shares and or partial pay in cash to KC to buy KOM priced yard 3. Temasek May also inject cash into the newco / CE to take up a separate Stake in the newco / CE as their stake in SM will be diluted unless they inject cash directly into SM to prevent dilution.
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MANFREDTMK Master	02-Apr-2022 21:56        MANFREDTMK About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yes, the selldown is on NEWCO, not SM unlike SCI case. This gives everyone another opportunity to make round 2 on NEWCO. No basis for consolidation as SM is no longer around, NEWCO is born ICXGOLD      ( Date: 02-Apr-2022 21:43) Posted: If SCM is going to issue new shares, and those will be going to KOM shareholders for free, they are sure to sell like in the case of the SCI deal and we will see a short term downward pressure from the agreed share price, It won' t really affect the 8c rights holders, who infact may see a run up to whatever the agreed share price of SCM is before the KOM distribution. Could we expect to see a consolidation of SCM  shares, as part of the deal to.lower the number of shares in circulation.
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ICXGOLD Master	02-Apr-2022 21:43        ICXGOLD About Contact  Quote this Post!
x 0   x 0  Alert Admin	If SCM is going to issue new shares, and those will be going to KOM shareholders for free, they are sure to sell like in the case of the SCI deal and we will see a short term downward pressure from the agreed share price, It won' t really affect the 8c rights holders, who infact may see a run up to whatever the agreed share price of SCM is before the KOM distribution. Could we expect to see a consolidation of SCM  shares, as part of the deal to.lower the number of shares in circulation.
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MANFREDTMK Master	02-Apr-2022 19:26        MANFREDTMK About Contact  Quote this Post!
x 0   x 0  Alert Admin	Stop humiliating yourself, SICKO weekaykee      ( Date: 02-Apr-2022 17:49) Posted: 16.5 cts???  Might as well a zero to it. MANFREDTMK      ( Date: 02-Apr-2022 17:43) Posted: Bro Better, correct me if I am wrong. I think Temasek is likely to inject, on average $1.5b, if any. Is there a high chance that this scenario will play out? The effective price will be 16.5 cents then. Cheers
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PHInsider63 Veteran	02-Apr-2022 18:05        PHInsider63 About Contact  Quote this Post!
x 0   x 0  Alert Admin	My sincerest apologies May you assist to leave such posting to other thread. Hopefully in this thread, we can have substantiated exchange of views. Else the postings will keep flooding out useful ones. From now till end April, we hope to have constructive exchanges in this thread. Thanks in advance. Have a nice weekend. weekaykee      ( Date: 02-Apr-2022 17:49) Posted: 16.5 cts???  Might as well a zero to it. MANFREDTMK      ( Date: 02-Apr-2022 17:43) Posted: Bro Better, correct me if I am wrong. I think Temasek is likely to inject, on average $1.5b, if any. Is there a high chance that this scenario will play out? The effective price will be 16.5 cents then. Cheers
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ahbui8 Master	02-Apr-2022 18:05        ahbui8 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Aiya I don' t wish to think so much liao and just wait for the result as I' m also not a passive investor 😂 . To me those brought SM on the low 8 series price is 100% safe.  MANFREDTMK      ( Date: 02-Apr-2022 16:06) Posted: The reverse is true. The JV becomes a captive business of the CE, a tremendous gain, not loss ahbui8      ( Date: 02-Apr-2022 15:41) Posted: Oh I think I get it, mean Keppel side is right, Keppel SH can get share fm the combined entity, and Keppel will own another 50% fm Keppel and the combined entity JV. This clearly show SM is on the losing side 😂
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weekaykee Master	02-Apr-2022 17:49        weekaykee About Contact  Quote this Post!
x 1   x 0  Alert Admin	16.5 cts???  Might as well a zero to it. MANFREDTMK      ( Date: 02-Apr-2022 17:43) Posted: Bro Better, correct me if I am wrong. I think Temasek is likely to inject, on average $1.5b, if any. Is there a high chance that this scenario will play out? The effective price will be 16.5 cents then. Cheers better      ( Date: 02-Apr-2022 15:33) Posted: 1) Yes, SM will be the acquiring entity as it is already listed. Any other way will be much more complicated as you have to delist/ buyout SM and then list the combined entity again later after merger. Much too troublesome. 2) No newco need to be formed. After SM acquires KOM through issuing shares and maybe partial pay in cash, SM will be called the " combined entity" . However, the tabled merger deal needs to get the approval of KC and SM' s shareholders with Temasek having to abstain from voting. Temasek has to abstain from SM' s voting because they own 20% of KC. They must abstain from KC' s voting because they own 55% of SM.  KC cannot keep SM shares and must distribute them to their shareholders as Temasek usually prefer direct shareholding vs grandfather/ Korean style shareholding. Like A owns 30% of B and 51% of C and C owns 21% of B, so A effectively has majority control of B (Korean style). 3) It is likely to involve $1-2 billion cash injection from Temasek, just a matter of how they are going to do it.  4 reasons for that: a) To maintain their ownership of the combined entity at above 50% b) Before KC transfer KOM' s assets to SM, they would very likely extract all the cash/ liquidity from KOM.  KOM probably need about $1 billion cash/ running capital to see through their existing projects ex legacy rigs. If it is just a simple $2bil+ $4bil combination, the cash in SM will have to be used for the running capital of KOM existing projects. While that is possible, it might be a bit stretched and would not give the combined entity much room to mega projects. c) On KC&rsquo s side, they need to pay off $4+billion of debt this year, most of them related to KOM. Without some cash on the table to sweeten the deal for KC and existing SM shareholders (with a special dividend of sort), the deal might not be approved during the voting. d) SM is currently trading at below book value. KC will likely want to sell KOM at at least book value.   That is an impasse for the merger. That means either SM have to issue a lot more shares to KC (SM share price being the exchange rate) or KC have to agree to sell KOM at below book value. As Temasek owns 55% of SM, it is of course to their interest to issue as little SM shares as possible to KC.  The cash from Temasek can be used to repriced SM share price so the numbers can work out for both KC and SM shareholders. That&rsquo s my dominant merger scenario is some version of my original Option 2 scenario explained in my previous post
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MANFREDTMK Master	02-Apr-2022 17:43        MANFREDTMK About Contact  Quote this Post!
x 0   x 0  Alert Admin	Bro Better, correct me if I am wrong. I think Temasek is likely to inject, on average $1.5b, if any. Is there a high chance that this scenario will play out? The effective price will be 16.5 cents then. Cheers better      ( Date: 02-Apr-2022 15:33) Posted: 1) Yes, SM will be the acquiring entity as it is already listed. Any other way will be much more complicated as you have to delist/ buyout SM and then list the combined entity again later after merger. Much too troublesome. 2) No newco need to be formed. After SM acquires KOM through issuing shares and maybe partial pay in cash, SM will be called the " combined entity" . However, the tabled merger deal needs to get the approval of KC and SM' s shareholders with Temasek having to abstain from voting. Temasek has to abstain from SM' s voting because they own 20% of KC. They must abstain from KC' s voting because they own 55% of SM.  KC cannot keep SM shares and must distribute them to their shareholders as Temasek usually prefer direct shareholding vs grandfather/ Korean style shareholding. Like A owns 30% of B and 51% of C and C owns 21% of B, so A effectively has majority control of B (Korean style). 3) It is likely to involve $1-2 billion cash injection from Temasek, just a matter of how they are going to do it.  4 reasons for that: a) To maintain their ownership of the combined entity at above 50% b) Before KC transfer KOM' s assets to SM, they would very likely extract all the cash/ liquidity from KOM.  KOM probably need about $1 billion cash/ running capital to see through their existing projects ex legacy rigs. If it is just a simple $2bil+ $4bil combination, the cash in SM will have to be used for the running capital of KOM existing projects. While that is possible, it might be a bit stretched and would not give the combined entity much room to mega projects. c) On KC&rsquo s side, they need to pay off $4+billion of debt this year, most of them related to KOM. Without some cash on the table to sweeten the deal for KC and existing SM shareholders (with a special dividend of sort), the deal might not be approved during the voting. d) SM is currently trading at below book value. KC will likely want to sell KOM at at least book value.   That is an impasse for the merger. That means either SM have to issue a lot more shares to KC (SM share price being the exchange rate) or KC have to agree to sell KOM at below book value. As Temasek owns 55% of SM, it is of course to their interest to issue as little SM shares as possible to KC.  The cash from Temasek can be used to repriced SM share price so the numbers can work out for both KC and SM shareholders. That&rsquo s my dominant merger scenario is some version of my original Option 2 scenario explained in my previous post   PHInsider63      ( Date: 02-Apr-2022 05:45) Posted: Thanks bro better Based on what was contributed and if those hold water, am I right to state: 1. SM will remain as the listco and the acquiring entity. 2. A newco aka Common Entity will be formed to merge KOM and SM assets under SM. In other words, SM will issue shares and or partial pay in cash to KC to buy KOM priced yard 3. Temasek May also inject cash into the newco / CE to take up a separate Stake in the newco / CE as their stake in SM will be diluted unless they inject cash directly into SM to prevent dilution.
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