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SembCorp Marine- The new Frontier.
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Sunbrighten
Senior |
30-Aug-2021 23:00
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hi wiseinvestor, if shortist buy rights issue on the market tomorrow, do they eligible to apply for any excess rights shares? if not, they can actually buy back the mother shares to recover the short and make a big profit already if they sold it at 16 cents as mentioned. thanks
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better
Elite |
30-Aug-2021 21:51
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Theoritically, it is possible to buy about 250 to 300 mother shares to cover the 100 shares short. In practice, I think that would be very complicated as they might have borrowed scripts from multiple parties and the actual amount of allocated shares will differ from one party to the next depending on how many excess rights shares the lending counter parties choose to subscribe.
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beng1102
Elite |
30-Aug-2021 21:35
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The can either buy rights or mother shares.  Either way price will go up.  However if many shareholders are selling rights or mother share then shortist will be too happy.
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better
Elite |
30-Aug-2021 21:26
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For every 100 shares short after ex rights date, shortist have to buy back 150 rights (to subscribe at 8 cents) from the open market by 8th Sept to pay back the investors they borrowed the scripts to short. The plan, I believe, is to keep the right price slightly higher than ' mother share price minus 8 cents' . This would convince many retail investors to sell some/most of their rights and try to subscribe for excess right shares at 8 cents. Whether the shortist can accomplish that depends on how many retail investors fall for their ploy. The original 100 shares short can be bought back after the rights issue at a later date. The 2nd rights exercise is quite different from the 1st in 2 aspects: 1) Temasek MO at 8 cents almost guaranteed that price will not drop below the exercise price of 8 cents in the ensuing few months. 2) Shareholders who subscribe for their right shares at 8 cents are not going to sell their shares below 8 cents (just like SIA at $3). During the 1st rights issue, SCI shareholders are given free SCM shares, therefore selling at whatever price can still be deemed a profit depending on their perception of SCM' s value.
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josemmm123
Master |
30-Aug-2021 21:23
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lowest not $0.001? 
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ahboy8
Member |
30-Aug-2021 21:20
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Log in to your CDP account and check.. should be credited in already
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sweet639
Veteran |
30-Aug-2021 21:19
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SMM right is out tomorrow morning, the lower can go is $0.01, how many will buy this right?adding 0.08, the mother share  is only 0.09, how to trade
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central
Senior |
30-Aug-2021 21:10
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When How to check my rights entitlement in CDP?
Thanks.
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WiseInvestor
Elite |
30-Aug-2021 20:35
Yells: "Forex Biz Opportunity for traders!" |
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For example, Rights issue' s opening trading price is likely 1 cent tomorrow. In any case, shortist buy it back at 1 cent on the market plus 8 cents subscription price, totaling 9 cents.
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better
Elite |
30-Aug-2021 20:34
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New Tyra Topsides, Bridges Reach Danish North SeaAugust 30, 2021
Credit: Sembcorp Marine (file photo)
 
Big Roll Beaufort heavy transportation vessel, loaded with topsides destined for TotalEnergies' Tyra Phase 2 development off Denmark, reached the Danish North Sea on Sunday morning after a long journey from Singapore. Singapore' s offshore platform constructor Sembcorp Marine in July completed the fabrication of two wellhead topsides, one riser topside, and two bridges for deployment at TotalEnergies&rsquo Tyra field redevelopment in the Danish North Sea. The topsides and bridges sailed away from Sembcorp Marine Admiralty Yard Sunday, July 25. They will replace Tyra&rsquo s aging facilities to support further production. Norwegian Energy Company (Noreco) TotalEnergies' partner in the project, confirmed Monday that the three Tyra East wellhead and riser platforms had arrived at the Tyra field. " At the Tyra field, the world' s largest crane vessel, Sleipnir, is now in position to lift the three topsides off the vessel and onto the jackets. The lifting of the topsides will be followed by an installation period scheduled to take place during September. Progress on the five remaining platforms continues per schedule to meet the first gas date in Q2 2023," Noreco said. Noreco, TotalEnergie' s partner in the project, said in November 2020, that the start-up of the Tyra Redevelopment was expected in the second quarter of 2023, and not in 2022 as previously planned, citing COVID-19 impact and restriction imposed at the fabrication yards. Once online, the redeveloped Tyra will produce enough gas to power 1.5 million homes in Denmark, with production at peak expected at 60000 boepd. |
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boyboy61
Supreme |
30-Aug-2021 20:31
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Rights already in cdp account
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beng1102
Elite |
30-Aug-2021 20:22
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Not yet received.  SMM and keppel O& M must merge so SMM must have the money to buy keppel O& M.    The combined order book will allow the SMM to become profitable otherwise both could be unprofitable.
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vivacious
Supreme |
30-Aug-2021 20:05
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will be good for everyone if the price stays above 0.09  | ||||||||
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naoshingo
Elite |
30-Aug-2021 19:27
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Lol..I see your point. BTW, I still haven' t received the documents yet..has anyone received already??
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WiseInvestor
Elite |
30-Aug-2021 18:36
Yells: "Forex Biz Opportunity for traders!" |
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I am not sure of your last question. Anyway, yes for example, shortist having 100 short position (shares) is to be allocated 150 shorted rights by today, Then have the following options as mentioned earlier, depending on the market performance.  1) Buy the 150 rights back on the market at possibly higher than 8 cents by the expiry date of rights trading. 2) Leave the new positions to expire, in which case, the rights will automatically be taken up, the new 150 shares will be shorted at the subscription price (8 cents). Shortists can do math as a basis of short-covering decision, using formula. For example, (100 x [let' s say]16 cents) + (150 x 8 cents)/250 = 11.2 cents to break even. if less than 11.2 cents, the shortist make profit. If Shortist buy 150 rights back at 9 cents tomorrow, then the effective one is 11.8 cents.  It is likely that shortists might have an early inside information about the coming rights issue plan together with SMM' s fundamentals weakened by Covid-19 pandemic so they want to short more. That is similar to SIA' s previous right issue experience, but SIA' s huge losses were already strongly defied by Mr Market!
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vivacious
Supreme |
30-Aug-2021 18:33
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not sure how many shareholders hv thrown in the towel all these years (i did throw in the towel some years back) but now got in recently about 0.092. Am fairly confident it' s a safe entry point.
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better
Elite |
30-Aug-2021 18:15
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I am of the opinion that Sembmarine need not call for the 2nd rights issue so soon. They still have close to S$800 mil cash on hand which could last them for another year, even after factoring in the S$600 mil yard financing provided to Transocean. They can call for a rights issue to boost working capital after they confirm/ secure the couple of mega projects that are coming in. That will minimise the impact on minority shareholders. As none of their projects are cancelled, it would have be much better for him to play the waiting game until the cashflow situation improves with mega projects completion in the coming months... Instead, CEO Wong buckled under a bit of financial and operational duress. Succumb to the threats of a few bankers who say they may not rollover the maturing short term debt. Totally hopeless in playing the game of chicken. Which banker would dare to anyhow foreclose a Temasek owned company?  
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naoshingo
Elite |
30-Aug-2021 17:47
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Why did u call the CEO kan jeonh? Is he? 😷
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Abe2021
Veteran |
30-Aug-2021 17:00
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Wiseinvestor, you are saying short position is eg 100 shares They have to cover 150 rights plus the 100 shares. essentially 2.5 times  Why would they want to short ? Is there no other way to cover back. They are also holding quite a substantial amount of shares. Anyway at this kind of price now, how many will want to subscribe ???
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eugesun
Elite |
30-Aug-2021 16:43
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Bro, you will be rich,,, it will go up soon...TH has tons of money to make it grow....
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