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Sembmarine
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papayaface
Supreme |
22-Jan-2016 07:08
Yells: "This is the best time to enter....when everythings uncertain" |
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Please dont any how criticise anyone, admin already caution. SDP has done a fabulous job to highlight these concerns as no men-in-white has dared to open their mouths to speak up on the repercussions of such a collapse on the economy and citizens funds. Chee is showing his mettle ie to keep the government in check unlike the others. The government has to address these concerns as both ways, public funds is at stake. Well done Chee. Good luck. |
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WhyWhy
Member |
22-Jan-2016 06:08
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SDP is a clown and opportunist too.. everyrhing must consult the public, consult the public.. they themselve have no sense of responsibility and decision of their own.. yes, ah gong and ah ma, gor gor and di di, ah blur or no blur, never mind if you know or don't know.. but please tell me what to do. If a country or company were to be run this way, they will all go down the drain. | ||||
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Qanghoo
Supreme |
22-Jan-2016 05:57
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The management are probably more focused, acting with more urgency n responded ahead more proactively than what a lot of people wld have others believe. That' s why people who trade best dyodd. |
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jwong016
Senior |
22-Jan-2016 00:43
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end of the day, lets focus on the financials and if they make sense for an investment. whether SCI or KC privatise is a situation that we shouldn' t bet on as it might not happen. but in today' s market KC and SMM are not the entities they used to be in 09/10. they are having such high D/E levels, let' s face it. it doesn' t matter whether KC or SCI drops till 10c, $1 whatever. temasek will continue holding as they have long holding power. the question is different for individual retail investors like us - are we able to stomach the diminishing dividends, languishing share prices and just maybe, in the next 3-5 years, recover cost and maybe a bit more? DYODD not vested. just a thought to share with everyone here.
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Qanghoo
Supreme |
22-Jan-2016 00:23
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When calls like that are made, let' s not be naive. U know how the response will be like. But if the mkt chooses to exploit the situation to short so be it. Anyway, tere is no confirmed news of any corporate action on SCI' s part. Someone not authorised to talk speaks to the press. It might not be 100% accurate.
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erhaier
Senior |
21-Jan-2016 23:39
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SDP must have all in their fund ... Short.
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alan5793
Veteran |
21-Jan-2016 22:40
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Jialet Liao.. Very difficult for their Ah Gong Temasek to do anything now....All eyes on it..SDP calls for immediate release of Sembcorp Marine&rsquo s and Keppel&rsquo s financial status0By onlinecitizen on January 21, 2016 Politics
The Singapore Democratic Party (SDP) calls for the immediate release of Sembcorp Marine&rsquo s and Keppel&rsquo s financial status after learning that Sembcorp Industries might inject funds into its subsidiary Sembcorp Marine or buy full control of the drilling rig builder to replenish finances strained by a collapse in oil prices. The party also asked how much funds would Sembcorp Industries put up to help out its subsidiary. Sembcorp Industries largely owned by Singapore&rsquo s investment arm, Temasek Holdings with 49.5% shares and Public (50.5%) while Sembcorp Industries owns 61% of Sembawang Marine as its parent company. News quoted from a source saying, &ldquo It&rsquo s quite clear that financial support has to come in and a take-private is one of the easier options, but ultimately there needs to be a long-term solution,&rdquo Sembcorp Industries, Sembcorp Marine and Temasek declined to comment the media queries. The news of the injection on Tuesday caused shares prices of Sembcorp Marine to jump by as much as 8 percent at one point during Wednesday&rsquo s trading. Sembcorp Marine is reported to have incurred huge losses after its dealings with customer Sete Brasil, an oil-drilling company, went sour. Sembcorp Marine and Keppel Corporation build oil-rigs for Sete Brasil which is said to be considering filing for bankruptcy because of a crash in oil prices. The Brazilian company is also facing charges of corruption. SDP says that it is against the practice of the government under the People&rsquo s Action Party (PAP), using public funds to rescue troubled Government-linked companies (GLCs) with little accountability to the public. It added that Singaporeans are not consulted on how Temasek invests the national funds and should not have to shoulder its losses. This is especially problematic when profits are not equitably distributed to Singaporeans. The party also found issue with how the news of Sembcorp Industries&rsquo potential rescue caused shares prices of Sembcorp Marine to jump, saying that public money should not be used by the government to benefit private investors in the stock market. SDP said, &ldquo There are many questions surrounding this latest announcement, many of which can only be answered with Sembcorp Marine and Keppel Corporation releasing their financial reports.&rdquo
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alan5793
Veteran |
21-Jan-2016 22:36
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Yes, we kenal CON... According to my fen working there, don&rsquo t trust the Rumours
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WanSiTong
Supreme |
21-Jan-2016 17:24
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Broker' s Report Time not right to privatise Sembcorp Marine, says CIMB January 21, 2016: 3:55 PM CIMB (Valuation: 1.65, Fundamental: 0.55) does not think the time is right for Sembcorp Industries (Valuation: 2.40, Fundamental: 1.10) to take private its marine-drilling and rig-building unit Sembcorp Marine (Valuation: 1.80, Fundamental: 1.10), following media reports of such a possibility. CIMB says the current " murky fate" surrounding Sembcorp Marine' s customer Sete Brasil Participaç õ es and the challenging market for offshore drilling rigs makes any proposal to take the company private unattractive. Privatising Sembcorp Marine will be a " negative move as it will strain its [Sembcorp Industries' ] own balance sheet and cap the growth potential of [its] utilities businesses," CIMB says. The house keeps unchanged its " add" view on Sembcorp Industries, saying that at the current share price, the market is ascribing an " illogical" zero value to Sembcorp Marine as it estimates the utilities and industrial parks alone to be worth $ 2.47 a share. As at Jan 21, Sembcorp Industries is down 4.8% at $ 2.19, while Sembcorp Marine is up 0.67% at $ 1.50. |
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sgng123
Supreme |
21-Jan-2016 17:01
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Lot of short ready to rush and the simple fact semb mar need to be save through privatisation, sete brasil look set to default and huge writedown plu impairment waiting.
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erhaier
Senior |
21-Jan-2016 16:53
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Any last thoughts before tomorrow Judgement Day? |
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Qanghoo
Supreme |
21-Jan-2016 08:24
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A lot of people have dug graves ready for KC, SMM, DBS, OCBC already.
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Maller
Elite |
21-Jan-2016 07:14
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next few weeks shd cheong as they are making plans and formalised it? I read Sete Brasial is considering a restructuring plan and I think bankruptcy risk is low...Buy... |
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littleones
Veteran |
21-Jan-2016 07:09
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All these talks about taking SMM private is meaningless as Sete Brasil is not filing for bankruptcy. Petronas which sponsored Sete Brasil will find a way out of this crisis. Most likely Petronas will honour Sete Brasil debt to avoid denting the important energy sector of the Brazilian economy | ||||
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Qanghoo
Supreme |
21-Jan-2016 06:53
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This thing abt the need, n looking at ways, to strengthen SMM came from a " source" reported by a local paper. Might not be accurate although from track record when a story is flagged out in this way, it usually turns out to be correct. Privatisation was one option purportedly being considered. They might be considering others as well, including, perhaps, others not reported. But, say, privatisation turns out to be the preferred option, there might still be a variety of ways to skin a cat. One cld be TH n SCI set up a joint-purpose vehicle to do so. That way, they need not overtax SCI if its own reserves do not permit it. But I' d think they' d know how best they want to manage the situation, hopefully, taking into account minority interests. |
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jwong016
Senior |
21-Jan-2016 01:16
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At its closing price of S$1.48 yesterday, Sembcorp Marine had a market capitalisation of S$3.09 billion. Most takeovers will see the acquiring party fork out a premium over the target&rsquo s recent share price. But, Sembcorp Industries will still require S$1.2 billion (39% of S$3.09 billion) to fully acquire Sembcorp Marine at a price of S$1.48 per share even if we ignore any premiuim. That sum is not chump-change when we consider Sembcorp Industries&rsquo cash position (S$1.64 billion in cash & equivalents) and balance sheet strength in the third-quarter of 2015. If a privatisation were to take place, Sembcorp Industries will likely need to take on more debt. This can potentially add more stress to the company&rsquo s balance sheet which is already highly-geared in relation to history.
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roostertan
Member |
20-Jan-2016 23:45
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Remais cash positive, yes, as at now. If, only if, Brazil declares bankrupt later based on such low oil price, then will it cash positive? It becomes bad debts ultimately. Follows up, will be a long haul of court proceedings which will be even worse.
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littleones
Veteran |
20-Jan-2016 23:14
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Meanwhile, OCBC noted that the amount outstanding from Sete Brasil to Sembcorp Marine has increased to $160m as of end Dec last year, and this figure is relatively stable as of end Mar, given the deliberate slowdown in construction for the drillships. Currently, about 82% of the first drillship has been completed, followed by 70% for the second, 51% for the third and 22% for the fourth. These projects remain cash positive.
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littleones
Veteran |
20-Jan-2016 22:54
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You guys really think those rigs already built and those currently being built have no value? Its value is zero? |
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jwong016
Senior |
20-Jan-2016 22:46
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Really based on market conditions. Guys look at it this way, even if the Govt did really privatise at $1.54, it is way much better than what it will probably languish downwards due to bad oil market. Anyway, price is dependent on current market conditions. Without support, SMM might not be able to survive. It has such high leverage and trade receivables (which may not be monetized). You win some, you lose some. SMM KC all belong to the cyclical industry. If u wanted something safer, SG GOVT BOND. lol.
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