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danger Supreme	09-Jun-2020 07:45        danger About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	BULLS ARE YOU READY ??!! danger      ( Date: 08-Jun-2020 17:05) Posted: Sembcorp group president and chief executive officer Neil McGregor said: The proposed demerger will unlock shareholder value by transforming Sembcorp Industries into a focused business that can compete and capture growth opportunities in the energy and urban sectors. In addition, our shareholders will also receive value in the form of shares in a stronger recapitalised Sembcorp Marine through the proposed distribution in specie
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WL123456 Supreme	09-Jun-2020 01:45        WL123456 About Contact  Quote this Post!
x 1   x 0  Alert Admin	Nope I am not touching this two. Not going to be for both. Just a case of one is worse but the other one even more. $1.5b debt in cash gone and become paper, have to give shareholders to keep them happy but actually it?s $1.5b written off from the BS. The other got super diluted, yes it has to be Temasek to save them but this also tells you how bad their situation is. If you cannot stay off them, then a good choice will be to short when they go too high but as I said before, better to just watch it from the sidelines. If they pump up the price, it means they are planning an unload in the future, prolly after the exercise has been approved. Djsoul80      ( Date: 08-Jun-2020 20:01) Posted: --- Post Removed by User ---
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newbieliu Elite	09-Jun-2020 00:07        newbieliu About Contact  Quote this Post!
x 0   x 0  Alert Admin	Lol ty for the input and info for the newbies . But I didn?t vest in this . Just keypoj since experience SIA RIGHT shares its never good for the original holders but new holders can wait for the right moments for long term . fundamentalhero      ( Date: 08-Jun-2020 23:09) Posted: Finally people with wisdom talking all the hyped talk and hidden intentions. Not vested nor will be vesting. have just totally exited the market happily. please understand this. When comes to bankruptcy, the pecking order of claims worker salary, debtors ( junior senior secured), perps, then finally shareholders. These paper general worked thing out in a manner obviously to save SMM at the expense of SCI. but people too blind to see except for the free shares (yay free shares!) understand then that you have effectively exchanged revenue generating debt  on book to holdings to be given out (as not dividends i will say but literally the word recapitalisation) SCI giving out of SMM shares to SCI holders is sort of like passing the hot potato to shareholders. generally from rating POV, SMM is good SCI not so. it is evident throughout the whole 3 pdf that they are talking about the benefits mainly to SMM, not SCI. only good thing about this that SCI no longer needs to shell out more money on SMM but as mentioned by octavia (someone talking with brains finally) is that SCI can focus on its ops. it will walk away with reduced debt (along with write down in assets - sort of like giving out retained earnings but via SMM) and without SMM drag it looks cleaner and better But debt over hang is still overkill and NAV is $1.94 la kns. those ppl stop giving your own figures.page 22 of the ppt knn you smarter than all these restructure pros and counters is it. ppl tell you pro forma and work out to the bone liao you still shouting $2.38 $2.38. please stop masking your intention to hype it up for exiting with such comments be contributive. (not saying it will go up or down but seriously a lot of newbies here and all these movements can really harm them if never tell properly) Financial Information. Based on the audited consolidated financial statements of the SCM Group for the financial year ended 31 December 2019 (&ldquo SCM FY2019 Audited Consolidated Financial Statements&rdquo ) as set out in SCM&rsquo s annual report for FY2019, and the Existing SCM Share Capital, the net tangible asset (&ldquo NTA&rdquo ) value per SCM Share is approximately S$0.92. Based on the SCM FY2019 Audited Consolidated Financial Statements, the loss before income tax and minority interests of SCM is S$177 million.  Upon recapitalisation, SCM&rsquo s:  Net gearing1 will be reduced from 1.82x to 0.45x  NTA2 improves from S$1.9 billion to S$4.0 billion Improves returns and strengthens the balance sheet from the deconsolidation of SCM  Increase in proforma ROE (3.5%1 to 7.9%2 ) and ROA (3.5%1 to 5.6%2 )  Significant reduction in debt levels by S$2.9 billion2  Proforma net debt-to-EBITDA ratio3 improves from 6.4x 1 to 5.0x 2 DRAFT 05.06.2020 22 2. Impact on NAV and NAV per Share. The pro forma financial effects of the Transaction on the NAV and NAV per Share of the SCI Group as at 31 December 2019 are as follows: Before the Transaction After the Transaction As reported for FY2019 SCI subscribes only for the SCI Pro-Rata SCM Rights Shares SCI subscribes for the Undertaking SCM Rights Shares NAV1 to equity holders (S$ million) 6,871 4,264 4,038 NAV per Share2 (S$) 3.85 2.39 2.26 NAV1 (excluding perpetual securities) to equity holders (S$ million) 6,070 3,463 3,237 NAV (excluding perpetual securities) per Share2 (S$) 3.40 1.94 1.81 Notes: (1) Computed as total assets less total liabilities and non-controlling interests. (2) The figures are based on the issued share capital of 1,785,574,930 SCI Shares (excluding treasury shares) as at 8 June 2020. 3. Impact on NTA and NTA per Share. The pro forma financial effects of the Transaction on the NTA and NTA per Share of the SCI Group as at 31 December 2019 are as follows: Before the Transaction After the Transaction As reported for FY2019 SCI subscribes only for the SCI Pro-Rata SCM Rights Shares SCI subscribes for the Undertaking SCM Rights Shares NTA3 to equity holder (S$ million) 6,238 3,891 3,665 NTA per Share4 (S$) 3.49 2.18 2.05 NTA3 (excluding perpetual securities) to equity holder (S$ million) 5,437 3,090 2,864 NTA per Share4 (S$) 3.04 1.73 1.60 Notes: (3) Computed as total assets less total liabilities, goodwill, intangible assets and non-controlling interests. (4) The figures are based on the issued share capital of 1,785,574,930 SCI Shares (excluding treasury shares) as at 8 June 2020 not an inducement to buy or sell. but with comments mainly shouting and hyping up up up it is good to have someone say REAL  pain points that there is also possibility that the share prices U-turn upon people and funds dissecting the recapitalisation plans. nothing personal and no i have not shorted or long this share. from the start, I select CDG, SCI and SATS in the following order of preference (SATS is surprisingly outperforming though) but have since exited the market. money in pocket is bird in hand. Octavia      ( Date: 08-Jun-2020 22:46) Posted: Sembcorp Industries had S$10.8b in debt in December 2019.It does have S$1.80b in cash offsetting this, leading to net debt of about S$9.04b.The latest balance sheet data shows that Sembcorp Industries had liabilities of S$6.01b due within a year, and liabilities of S$9.36b falling due after that. On the other hand, it had cash of S$1.80b and S$3.20b worth of receivables due within a year. So its liabilities total S$10.4b more than the combination of its cash and short-term receivables. Over the last three years, Sembcorp Industries recorded negative free cash flow, in total. Debt is far more risky for companies with unreliable free cash flow. For info.
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SembyBoy Member	08-Jun-2020 23:47        SembyBoy About Contact  Quote this Post!
x 0   x 0  Alert Admin	Stock won' t shoot up to $2.50 lah. At least not so soon. Confirm shoot up but dun think it will be as much as many are expecting. Probably see only 1.80 or so.
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newbie19 Supreme	08-Jun-2020 23:43        newbie19 About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	I have 30,000 shares of Sembcorp Ind. bought at $2.20. May i asked should i hold till AGM in late Aug/Sept and wait for the dividends. Or sell IF the stocks shoot up maybe to $2.50? THANKS. weekaykee      ( Date: 08-Jun-2020 23:28) Posted: SCI had always been highly geared but now the debts had been reduced by 2.7B. Isn' t this positive? Octavia      ( Date: 08-Jun-2020 22:46) Posted: Sembcorp Industries had S$10.8b in debt in December 2019.It does have S$1.80b in cash offsetting this, leading to net debt of about S$9.04b.The latest balance sheet data shows that Sembcorp Industries had liabilities of S$6.01b due within a year, and liabilities of S$9.36b falling due after that. On the other hand, it had cash of S$1.80b and S$3.20b worth of receivables due within a year. So its liabilities total S$10.4b more than the combination of its cash and short-term receivables. Over the last three years, Sembcorp Industries recorded negative free cash flow, in total. Debt is far more risky for companies with unreliable free cash flow. For info.
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weekaykee Master	08-Jun-2020 23:28        weekaykee About Contact  Quote this Post!
x 0   x 0  Alert Admin	SCI had always been highly geared but now the debts had been reduced by 2.7B. Isn' t this positive? Octavia      ( Date: 08-Jun-2020 22:46) Posted: Sembcorp Industries had S$10.8b in debt in December 2019.It does have S$1.80b in cash offsetting this, leading to net debt of about S$9.04b.The latest balance sheet data shows that Sembcorp Industries had liabilities of S$6.01b due within a year, and liabilities of S$9.36b falling due after that. On the other hand, it had cash of S$1.80b and S$3.20b worth of receivables due within a year. So its liabilities total S$10.4b more than the combination of its cash and short-term receivables. Over the last three years, Sembcorp Industries recorded negative free cash flow, in total. Debt is far more risky for companies with unreliable free cash flow. For info.
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Playersoon Member	08-Jun-2020 23:26        Playersoon About Contact  Quote this Post!
x 0   x 0  Alert Admin	So SMM RIGHT ISSUE FIRST OR SCI SHAREHOLDERS GET FREE SMM SHARES FIRST IF SCI SHAREHOLDERS GET FIRST, THEN THEY WILL HAVE TO PREPARE MONEY FOR EXERCISING THE RIGHTS OF 20¢
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Playersoon Member	08-Jun-2020 23:22        Playersoon About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hi... Questions, Assuming all go thru successfully, Do SCI shareholders get their free and shares before the SMM Rights issue? Or SMM finish right issue exercise then distribute free shares to SCI shareholders Thanks.... Please enlighten
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tangoanna Master	08-Jun-2020 23:21        tangoanna About Contact  Quote this Post!
x 0   x 1  Alert Admin	Talk so much also no use. SCI will gap up tmr. Pro forma EPS up 22%, ROE more than double. These are what matter. Fat dividends coming back soon..
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shadow11 Veteran	08-Jun-2020 23:19        shadow11 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Any smm shareholder at 4-5$ ?
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fundamentalhero Veteran	08-Jun-2020 23:09        fundamentalhero About Contact  Quote this Post! Style: Fundamental   Yells: "I NEED HONEYS AND MONIES"
x 0   x 0  Alert Admin	Finally people with wisdom talking all the hyped talk and hidden intentions. Not vested nor will be vesting. have just totally exited the market happily. please understand this. When comes to bankruptcy, the pecking order of claims worker salary, debtors ( junior senior secured), perps, then finally shareholders. These paper general worked thing out in a manner obviously to save SMM at the expense of SCI. but people too blind to see except for the free shares (yay free shares!) understand then that you have effectively exchanged revenue generating debt  on book to holdings to be given out (as not dividends i will say but literally the word recapitalisation) SCI giving out of SMM shares to SCI holders is sort of like passing the hot potato to shareholders. generally from rating POV, SMM is good SCI not so. it is evident throughout the whole 3 pdf that they are talking about the benefits mainly to SMM, not SCI. only good thing about this that SCI no longer needs to shell out more money on SMM but as mentioned by octavia (someone talking with brains finally) is that SCI can focus on its ops. it will walk away with reduced debt (along with write down in assets - sort of like giving out retained earnings but via SMM) and without SMM drag it looks cleaner and better But debt over hang is still overkill and NAV is $1.94 la kns. those ppl stop giving your own figures.page 22 of the ppt knn you smarter than all these restructure pros and counters is it. ppl tell you pro forma and work out to the bone liao you still shouting $2.38 $2.38. please stop masking your intention to hype it up for exiting with such comments be contributive. (not saying it will go up or down but seriously a lot of newbies here and all these movements can really harm them if never tell properly) Financial Information. Based on the audited consolidated financial statements of the SCM Group for the financial year ended 31 December 2019 (&ldquo SCM FY2019 Audited Consolidated Financial Statements&rdquo ) as set out in SCM&rsquo s annual report for FY2019, and the Existing SCM Share Capital, the net tangible asset (&ldquo NTA&rdquo ) value per SCM Share is approximately S$0.92. Based on the SCM FY2019 Audited Consolidated Financial Statements, the loss before income tax and minority interests of SCM is S$177 million.  Upon recapitalisation, SCM&rsquo s:  Net gearing1 will be reduced from 1.82x to 0.45x  NTA2 improves from S$1.9 billion to S$4.0 billion Improves returns and strengthens the balance sheet from the deconsolidation of SCM  Increase in proforma ROE (3.5%1 to 7.9%2 ) and ROA (3.5%1 to 5.6%2 )  Significant reduction in debt levels by S$2.9 billion2  Proforma net debt-to-EBITDA ratio3 improves from 6.4x 1 to 5.0x 2 DRAFT 05.06.2020 22 2. Impact on NAV and NAV per Share. The pro forma financial effects of the Transaction on the NAV and NAV per Share of the SCI Group as at 31 December 2019 are as follows: Before the Transaction After the Transaction As reported for FY2019 SCI subscribes only for the SCI Pro-Rata SCM Rights Shares SCI subscribes for the Undertaking SCM Rights Shares NAV1 to equity holders (S$ million) 6,871 4,264 4,038 NAV per Share2 (S$) 3.85 2.39 2.26 NAV1 (excluding perpetual securities) to equity holders (S$ million) 6,070 3,463 3,237 NAV (excluding perpetual securities) per Share2 (S$) 3.40 1.94 1.81 Notes: (1) Computed as total assets less total liabilities and non-controlling interests. (2) The figures are based on the issued share capital of 1,785,574,930 SCI Shares (excluding treasury shares) as at 8 June 2020. 3. Impact on NTA and NTA per Share. The pro forma financial effects of the Transaction on the NTA and NTA per Share of the SCI Group as at 31 December 2019 are as follows: Before the Transaction After the Transaction As reported for FY2019 SCI subscribes only for the SCI Pro-Rata SCM Rights Shares SCI subscribes for the Undertaking SCM Rights Shares NTA3 to equity holder (S$ million) 6,238 3,891 3,665 NTA per Share4 (S$) 3.49 2.18 2.05 NTA3 (excluding perpetual securities) to equity holder (S$ million) 5,437 3,090 2,864 NTA per Share4 (S$) 3.04 1.73 1.60 Notes: (3) Computed as total assets less total liabilities, goodwill, intangible assets and non-controlling interests. (4) The figures are based on the issued share capital of 1,785,574,930 SCI Shares (excluding treasury shares) as at 8 June 2020 not an inducement to buy or sell. but with comments mainly shouting and hyping up up up it is good to have someone say REAL  pain points that there is also possibility that the share prices U-turn upon people and funds dissecting the recapitalisation plans. nothing personal and no i have not shorted or long this share. from the start, I select CDG, SCI and SATS in the following order of preference (SATS is surprisingly outperforming though) but have since exited the market. money in pocket is bird in hand. Octavia      ( Date: 08-Jun-2020 22:46) Posted: Sembcorp Industries had S$10.8b in debt in December 2019.It does have S$1.80b in cash offsetting this, leading to net debt of about S$9.04b.The latest balance sheet data shows that Sembcorp Industries had liabilities of S$6.01b due within a year, and liabilities of S$9.36b falling due after that. On the other hand, it had cash of S$1.80b and S$3.20b worth of receivables due within a year. So its liabilities total S$10.4b more than the combination of its cash and short-term receivables. Over the last three years, Sembcorp Industries recorded negative free cash flow, in total. Debt is far more risky for companies with unreliable free cash flow. For info.
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raymoon Member	08-Jun-2020 22:54        raymoon About Contact  Quote this Post!
x 0   x 0  Alert Admin	Well said! Everyone is like blinded by the marine free shares which is not 100% guaranteed. Octavia      ( Date: 08-Jun-2020 22:46) Posted: Sembcorp Industries had S$10.8b in debt in December 2019.It does have S$1.80b in cash offsetting this, leading to net debt of about S$9.04b.The latest balance sheet data shows that Sembcorp Industries had liabilities of S$6.01b due within a year, and liabilities of S$9.36b falling due after that. On the other hand, it had cash of S$1.80b and S$3.20b worth of receivables due within a year. So its liabilities total S$10.4b more than the combination of its cash and short-term receivables. Over the last three years, Sembcorp Industries recorded negative free cash flow, in total. Debt is far more risky for companies with unreliable free cash flow. For info.
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iluvgambling Master	08-Jun-2020 22:50        iluvgambling About Contact  Quote this Post!
x 0   x 0  Alert Admin	BIG QUESTION : At what price is SCI worth buying and still huat ??? say you buy 10L at $2 .you are entitiled to SMM shares woth $8k+ big huat liao you buy 10L at $3, you also entitled to SMM shares worth $8k....also huat.
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Octavia Supreme	08-Jun-2020 22:46        Octavia About Contact  Quote this Post! Style: Flexible   Mood:
x 1   x 1  Alert Admin	Sembcorp Industries had S$10.8b in debt in December 2019.It does have S$1.80b in cash offsetting this, leading to net debt of about S$9.04b.The latest balance sheet data shows that Sembcorp Industries had liabilities of S$6.01b due within a year, and liabilities of S$9.36b falling due after that. On the other hand, it had cash of S$1.80b and S$3.20b worth of receivables due within a year. So its liabilities total S$10.4b more than the combination of its cash and short-term receivables. Over the last three years, Sembcorp Industries recorded negative free cash flow, in total. Debt is far more risky for companies with unreliable free cash flow. For info.
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arctician1982 Senior	08-Jun-2020 22:31        arctician1982 About Contact  Quote this Post!
x 0   x 0  Alert Admin	shortist also have to rush and cover, good news for SCI also.
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samtan221 Member	08-Jun-2020 22:30        samtan221 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Just wondering where do you guys find information on shorting? naoshingo      ( Date: 08-Jun-2020 21:49) Posted: More ppl shorted SCI than to short SM. SM shorted vol: 1,541,100, amounting to $1,123,864. Looks like many people got it wrong also. naoshingo      ( Date: 08-Jun-2020 21:46) Posted: Fun facts, for the week from 1 - 3 June, there are 4,917,400 shorted SCI shares, amounting to $7,081,661
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danger Supreme	08-Jun-2020 22:22        danger About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	So limkopi.. in short what it says Target price ? johnlimkopi      ( Date: 08-Jun-2020 22:17) Posted: https://newacademyoffinance.com/sembcorp-industries-marine-demerger/?utm_source=rss& utm_medium=rss& utm_campaign=sembcorp-industries-marine-demerger  Good writeup..found this useful!
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ICXGOLD Master	08-Jun-2020 22:21        ICXGOLD About Contact  Quote this Post!
x 1   x 0  Alert Admin	It will be only after EGM which they will announce end august / early sept. ghetto      ( Date: 08-Jun-2020 22:12) Posted: Anyone has the voting date for this exercise? So all of us dont anyhow sell your SCI shares prior to it.
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johnlimkopi Member	08-Jun-2020 22:17        johnlimkopi About Contact  Quote this Post!
x 0   x 0  Alert Admin	https://newacademyoffinance.com/sembcorp-industries-marine-demerger/?utm_source=rss& utm_medium=rss& utm_campaign=sembcorp-industries-marine-demerger  Good writeup..found this useful!
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ghetto Master	08-Jun-2020 22:12        ghetto About Contact  Quote this Post! Style: Combined
x 0   x 0  Alert Admin	Anyone has the voting date for this exercise? So all of us dont anyhow sell your SCI shares prior to it.
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