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SembCorp Industries
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ADS2200
Veteran |
24-Aug-2020 17:23
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spoke to someone regarding sci and what his thought. after the demerger left with energy and urban. urban is a small component while energy is good but sg market alone is too small and the rest of the geogrsphy is challenging. after the exercise what next ? look like i have to relook again
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danger
Supreme |
24-Aug-2020 16:55
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the final accumulation to $2.30 ? | ||||
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SgTrader17
Elite |
24-Aug-2020 16:48
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Demerger gets SCI into two main sectors that it can develop. Permanently locked Shareholders for long term profits? I think that's good. Keep for 5 years and beyond. If minus SCM free shares, still at $1.00, you sell to me.
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danger
Supreme |
24-Aug-2020 15:31
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looks like the BB finally coming back after their accumulation | ||||
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JY0064
Senior |
24-Aug-2020 15:23
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The price level must be low enough to entice people (retailers mostly) to buy with the foc SCM share in mind. The fear is after buying, price goes south so much so to lock in the new buyers till the D day and SCM also goes even more south to hit the main objective. Permanently lock in both SCI and SCM shareholders. Whose objective ? |
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SgTrader17
Elite |
24-Aug-2020 15:22
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When sell cheap, buy. If goes up, no more chances. Lol ... Kidding kidding. Don't listen, don't follow. I am vested, just waiting for recovery back to $1.98. | ||||
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TigerPlay
Master |
24-Aug-2020 15:13
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Oh dear, the BB got frightened away, no more buying laiow, just programmed nibbing of 100 or 200 shares. so sad | ||||
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lovemummy
Member |
24-Aug-2020 14:49
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oh ! okok. So these BB r trying to " play" with the market ? what are they normally do ? | ||||
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danger
Supreme |
24-Aug-2020 14:47
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BIG BULLY ! 
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lovemummy
Member |
24-Aug-2020 14:46
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Hi All Sifu : Can I have a stupid question ? what is BB har ? Tolong ! Tolong ! don tell me is Bebe or Baby :) |
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TigerPlay
Master |
24-Aug-2020 14:40
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ya, seem some BB got interest,shhhh pretend we sleeping, let them continue to whack. if we alert them, the rat might run away,shhhhhhhssssshhhh | ||||
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Waterrat
Veteran |
24-Aug-2020 14:35
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Shhhhh not so loud , otherwise will drop back
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john_ric
Supreme |
24-Aug-2020 14:35
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Quote " But all this hinges on a recovery in the offshore and marine sector. And no one knows how long the Covid-19 pandemic will last, or when the sector, which has been in the doldrums for several years, will recover. The downturn, which stretches back five to six years, has hit many companies, and several have already been wound up. For the sector' s fortunes to improve, a recovery in oil prices is needed. But increased global supply of oil and reduced demand because of the virus pandemic has helped keep a lid on oil prices for several years now. How soon or when it will turn around for the better is difficult to predict." sometimes things go down (turn negtive) may not come back up. there are many examples: NOL, tiger air, ezion,hyfuccck, lion gold, m1, starhub... |
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danger
Supreme |
24-Aug-2020 14:33
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stuck range bound from 1.8x to 1.9x for so long
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alwayshopeful
Senior |
24-Aug-2020 14:27
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Breakout! 1.84/1.85 now. |
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CheeryVGoh
Supreme |
24-Aug-2020 14:27
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MON, AUG 24, 2020 - 5:50 AM
What is the outlook for SMM? After the rights issue and the distribution of SMM shares to SCI shareholders is completed, Temasek Holdings (currently the single largest shareholder of SCI) will become a direct and significant shareholder of SMM with a stake of more than 30 per cent and up to 58 per cent. Temasek is sub-underwriting up to S$600 million of the rights issue, and SMM said it sees Temasek as a strong shareholder that will support SMM' s strategy and future growth. As at June 30, 2020, SMM had a net order book of about S$2.2 billion. It has had no cancellations since. The company has listed three strategies towards sustainable, long-term growth: diversification and expansion into new and existing markets strengthening of its yard capabilities and innovation development through investment in intellectual property, technology and solutions. But all this hinges on a recovery in the offshore and marine sector. And no one knows how long the Covid-19 pandemic will last, or when the sector, which has been in the doldrums for several years, will recover. The downturn, which stretches back five to six years, has hit many companies, and several have already been wound up. For the sector' s fortunes to improve, a recovery in oil prices is needed. But increased global supply of oil and reduced demand because of the virus pandemic has helped keep a lid on oil prices for several years now. How soon or when it will turn around for the better is difficult to predict.
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danger
Supreme |
24-Aug-2020 14:11
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COMING !!!?? Funds accumulated enough at cheap price already? |
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arctician1982
Senior |
24-Aug-2020 14:03
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if SCM SH dont subscribe and SCI SH get 4.97, this also means share price of SCM will have higher downside risks, you get more SCM shares coz no one wants them and their share price will correspondingly move lower. Example 4.27 x 0.2 = $0.85 4.97 x 0.15 = $0.74 |
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Longtermer
Elite |
24-Aug-2020 12:36
Yells: "A disciplined investor is a wealthy investor" |
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From the SMM rights trading, seems like many SMM holders are not subscribing to their full entitlement. SCI may end up taking more .. up to the max $1.5b. SCI holders may get close to or 491 shares instead of 427 for every 100 shares owned. SCI holders Huat. Cheers.
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CheeryVGoh
Supreme |
24-Aug-2020 12:27
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SCI to hive off Sembmarine to its shareholders latter plans S$2.1b rights SCI proposing to offset its entitlements with S$1.5b loan owed by subsidiary Temasek to sub-underwrite S$600m of the cash call TUE, JUN 09, 2020 - 5:50 AM ANITA GABRIEL[email protected]@AnitaGabrielBT Sembcorp Industries (SCI) and its marine arm Sembcorp Marine (SMM) unveiled on Monday a massive S$2.1 billion recapitalisation deal for SMM - plus a " demerger" from each other with Singapore' s Temasek Holdings ending with a direct stake in SMM. SEMBCORP Industries (SCI) and its marine arm Sembcorp Marine (SMM) unveiled on Monday a massive S$2.1 billion recapitalisation deal for SMM - plus a " demerger" from each other with Singapore' s Temasek Holdings ending with a direct stake in SMM. The two-step plan is aimed at beefing up both companies' financial positions and unlocking shareholder value and is in the best interests of their respective shareholders, the companies said in a joint statement on Monday. Under the proposed deal, SMM seeks to raise S$2.1 billion from a five-for-one renounceable rights issue of up to 10.5 billion new shares at an issue price of 20 Singapore cents each. To ensure deal certainty, SCI has undertaken to subscribe for its S$1.27 billion pro-rata entitlement, plus take up an additional S$230 million - if necessary - bringing its total commitment to S$1.5 billion. SCI, which owns 61 per cent of SMM, said it plans to do this by setting off a S$1.5 billion subordinated loan that it had extended to SMM back in mid-2019. The rights price represents a 31 per cent discount to the theoretical ex rights price (TERP) based on Sembmarine shares' five-day volume weighted average price (VWAP) of 74 Singapore cents. The equity rights issue is a critical lifeline for SMM - one of the world' s largest rig builders - that has been weighed down by a crippling oil crash caused by the Covid-19 pandemic. The company is facing project delays and scant new jobs. It said the cash call will improve its cash position, fund ongoing commitments, strengthen its balance sheet to ride through the prolonged downturn and win new projects. The second part of the exercise (both are inter-conditional upon each other) involving a " clean separation" is no less significant. Both firms will part ways, with SCI freeing itself from the cyclical marine business that has bogged down the conglomerate and overshadowed its decent utilities business amid a prolonged oil slump. The demerger will be done via a distribution in specie of SCI' s stake in SMM (post recapitalisation) to SCI shareholders on a prorata basis as dividends. SCI shareholders stand to get between 427 and 491 SMM shares for every 100 SCI shares owned - with no cash outlay. As a result of the split, SCI will become a focused energy and urban business and be poised to grab opportunities in the global energy transition, said SCI group president and chief executive Neil McGregor in a media briefing held over Zoom on Monday. As for SMM, with steadier financial metrics post-rights - net gearing will fall to 0.45 times from 1.82 times while net tangible assets will rise to S$4 billion from S$1.9 billion - it will be better able to position itself as a leader in engineering solutions for the offshore & marine and energy industries, said SMM president and CEO Wong Weng Sun. Post transaction, Temasek' s stake in SCI will remain unchanged while the state investment firm could end up with anything between 29.9 per cent and 58 per cent of SMM depending on shareholders' take-up of the rights issue. SCI and SMM will seek shareholders' go-ahead on the proposed distribution and rights issue respectively at a meeting to be held end-August or early September and the transaction is expected to be completed in the final quarter. DBS is the sole financial adviser for SCI' s proposed distribution and the sole financial adviser, lead manager and underwriter for SMM' s rights issue. Trading in the shares of both companies have been halted since last Thursday pending the announcement. SMM was last traded at 85 Singapore cents and SCI at S$1.53. The latest deal brings to an end long-held expectations in the investing community on the privatisation of SMM by SCI. SMM recently gave a gloomy update on the impact from the virus outbreak, saying that containment measures have disrupted transportation, supply chains, manpower access and plant operations and slashed energy demand and adversely impacted its business. When asked, Mr McGregor admitted that while SCI had considered a " range of options" including privatisation of SMM, such an exercise wouldn' t have solved the need to recapitalise the marine firm. " The proposed transaction that we have on the table addresses that completely," he replied. The latest announcement however is likely to galvanise one other long-held speculation involving the companies - that of a mega merger between SMM and Keppel O& M to create what one analyst called a " global power house" . Temasek' s partial offer for control over Keppel Corp too, has fuelled such talk. Ke Yan of Aequitas Research and a SmartKarma insight provider said: " We believe the SMM rights issue and demerger is paving the way for the consolidation of the O& M industry in Singapore....(it) represents Temasek' s determination to consolidate the two major players under one roof. Though it will take time, it is getting closer." |
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