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sutiono Veteran	19-Jul-2021 20:53        sutiono About Contact  Quote this Post!
x 0   x 0  Alert Admin	👍 better      ( Date: 19-Jul-2021 20:46) Posted: I would be writing to Monetary Authority of Singapore again and also to the Criminal Affairs Department to highlight iregularities pertaining to DBS Corporate Finance Department during the 1st and current rights issue. I have reasons to believe that the " DBS nominees" who are long Sembmarine shares are also net short by borrowing scripts to hold substantial short positions at the same time, hence violating the Singapore Securities ane Futures Act by holding long and short positions in the same stock at the same time. I also suspect that news of the two rights issue have been leaked to the " DBS nominees" way before they were made public. Would update you guys in due course. MANFREDTMK      ( Date: 19-Jul-2021 20:31) Posted: Really scary. Exploitation of Man by Man. It's one thing to lose and another thing to get rob. Really unlucky this time, 😭
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better Elite	19-Jul-2021 20:46        better About Contact  Quote this Post!
x 0   x 0  Alert Admin	I would be writing to Monetary Authority of Singapore again and also to the Criminal Affairs Department to highlight iregularities pertaining to DBS Corporate Finance Department during the 1st and current rights issue. I have reasons to believe that the " DBS nominees" who are long Sembmarine shares are also net short by borrowing scripts to hold substantial short positions at the same time, hence violating the Singapore Securities ane Futures Act by holding long and short positions in the same stock at the same time. I also suspect that news of the two rights issue have been leaked to the " DBS nominees" way before they were made public. Would update you guys in due course. MANFREDTMK      ( Date: 19-Jul-2021 20:31) Posted: Really scary. Exploitation of Man by Man. It's one thing to lose and another thing to get rob. Really unlucky this time, 😭 etilatrop      ( Date: 19-Jul-2021 20:02) Posted: The House (TH) always wins... If one or two maneovres disadvantage SMM SHs may be conincidence or inadvertent, but so many measures is not coincidence. This is my perspective: Step 1 kick out SMM from SCI Step 2 get SMM to cough up and repay loans to SCI Step 3 Issue rights, diluted SH value Step 4 Stop taking orders. Splurge and incur costs. Do not cut costs. Step 5  Promote Green restructuring. Good excuse for costs and to explain lack of orders Step 6 Issue rights (Exercise number 2). Further squeeze SHs and dilute more. Push prices down further with low rights price of 8c. Offer super low price. No takeover. Step 7 Merge. Ensure KC is liberated from O& G*Marine and get 500 million from SMM. Dump loss making KOM to SMM. KC SHs get free shares like SCI SHs did. Step 8 More costs incurred due to absorption of KOM and her losses and debts. Still no orders. KC SHs who get free shares dump. Prices far further. Step 9 Share consolidation. Issue rights (Exercise number 3). Further squeeze SHs and dilute more. Push prices down FURTHER. Step 10 Takeover for near zero price. Restructure/Repackage. Suddenly orders come. Relist. Sell. Profit
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MANFREDTMK Master	19-Jul-2021 20:31        MANFREDTMK About Contact  Quote this Post!
x 0   x 0  Alert Admin	Really scary. Exploitation of Man by Man. It's one thing to lose and another thing to get rob. Really unlucky this time, 😭 etilatrop      ( Date: 19-Jul-2021 20:02) Posted: The House (TH) always wins... If one or two maneovres disadvantage SMM SHs may be conincidence or inadvertent, but so many measures is not coincidence. This is my perspective: Step 1 kick out SMM from SCI Step 2 get SMM to cough up and repay loans to SCI Step 3 Issue rights, diluted SH value Step 4 Stop taking orders. Splurge and incur costs. Do not cut costs. Step 5  Promote Green restructuring. Good excuse for costs and to explain lack of orders Step 6 Issue rights (Exercise number 2). Further squeeze SHs and dilute more. Push prices down further with low rights price of 8c. Offer super low price. No takeover. Step 7 Merge. Ensure KC is liberated from O& G*Marine and get 500 million from SMM. Dump loss making KOM to SMM. KC SHs get free shares like SCI SHs did. Step 8 More costs incurred due to absorption of KOM and her losses and debts. Still no orders. KC SHs who get free shares dump. Prices far further. Step 9 Share consolidation. Issue rights (Exercise number 3). Further squeeze SHs and dilute more. Push prices down FURTHER. Step 10 Takeover for near zero price. Restructure/Repackage. Suddenly orders come. Relist. Sell. Profit. Chagatai      ( Date: 19-Jul-2021 19:03) Posted: It was all stock market Gambling after-all
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Calmroom Master	19-Jul-2021 20:22        Calmroom About Contact  Quote this Post!
x 0   x 0  Alert Admin	Since ex-rights NTA about 15.8c and any fair & reasonable offer from TH is unlikely to be lower than 15c then, wonder how come sellers still want to dump until 11.3c which was the 1-year low? Why are sellers so scared? No more SCI investors dumping tons of SCM " freebies" this time. This time TH also did not insist on a whitewash waiver first, or else cancel the rights issue. So why do sellers still feel they need to sell at such low prices?
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etilatrop Member	19-Jul-2021 20:02        etilatrop About Contact  Quote this Post!
x 0   x 0  Alert Admin	The House (TH) always wins... If one or two maneovres disadvantage SMM SHs may be conincidence or inadvertent, but so many measures is not coincidence. This is my perspective: Step 1 kick out SMM from SCI Step 2 get SMM to cough up and repay loans to SCI Step 3 Issue rights, diluted SH value Step 4 Stop taking orders. Splurge and incur costs. Do not cut costs. Step 5  Promote Green restructuring. Good excuse for costs and to explain lack of orders Step 6 Issue rights (Exercise number 2). Further squeeze SHs and dilute more. Push prices down further with low rights price of 8c. Offer super low price. No takeover. Step 7 Merge. Ensure KC is liberated from O& G*Marine and get 500 million from SMM. Dump loss making KOM to SMM. KC SHs get free shares like SCI SHs did. Step 8 More costs incurred due to absorption of KOM and her losses and debts. Still no orders. KC SHs who get free shares dump. Prices far further. Step 9 Share consolidation. Issue rights (Exercise number 3). Further squeeze SHs and dilute more. Push prices down FURTHER. Step 10 Takeover for near zero price. Restructure/Repackage. Suddenly orders come. Relist. Sell. Profit. Chagatai      ( Date: 19-Jul-2021 19:03) Posted: It was all stock market Gambling after-all
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Chagatai Veteran	19-Jul-2021 19:03        Chagatai About Contact  Quote this Post!
x 0   x 0  Alert Admin	It was all stock market Gambling after-all
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sutiono Veteran	19-Jul-2021 18:59        sutiono About Contact  Quote this Post!
x 0   x 0  Alert Admin	They just give 2 choice for the SHs , subscribe the rights or get diluted .. Yatsa13      ( Date: 19-Jul-2021 18:46) Posted: Manfred, this entire happening is pre-planned.  The recent selldown wiped out exactly the same amount S$1 billion. On June 24, Sembmarine unveiled a 3-for-2 rights issue of new shares at S$0.08 per share.  Temasek has agreed to subscribe for up to 67 per cent of all the rights shares, including its 42.6 per cent entitlement,  representing a total commitment of up to S$1 billion. This is too crazy to even think about it and that' s the reason why ceo Wong and management will and cannot utter a word because he cannot.  Absolute idiocy. The pricing of the rights 8c was never a mistake .... Manfred you are absolutely right 100%. How can a underwriter not know !!!! 1.5 rights   @ 16c for every 2 SMM shares, would have yield the same result - S$1.5 billion. As I go through the article by Ben Paul, it is like a ton of bricks that hit me. SMM' s minority shareholders are being cornered by Temasek' s planners. OMGoshhhhhhhhhhh ! Everything is being orchestrated to cheat the minority shareholders   😱 😱 😱 😱 😱 😱 😱 😱 😱 😱 😱 😱 😱 😱 😱 😱 😱 😱
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Yatsa13 Veteran	19-Jul-2021 18:46        Yatsa13 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Manfred, this entire happening is pre-planned.  The recent selldown wiped out exactly the same amount S$1 billion. On June 24, Sembmarine unveiled a 3-for-2 rights issue of new shares at S$0.08 per share.  Temasek has agreed to subscribe for up to 67 per cent of all the rights shares, including its 42.6 per cent entitlement,  representing a total commitment of up to S$1 billion. This is too crazy to even think about it and that' s the reason why ceo Wong and management will and cannot utter a word because he cannot.  Absolute idiocy. The pricing of the rights 8c was never a mistake .... Manfred you are absolutely right 100%. How can a underwriter not know !!!! 1.5 rights   @ 16c for every 2 SMM shares, would have yield the same result - S$1.5 billion. As I go through the article by Ben Paul, it is like a ton of bricks that hit me. SMM' s minority shareholders are being cornered by Temasek' s planners. OMGoshhhhhhhhhhh ! Everything is being orchestrated to cheat the minority shareholders   😱 😱 😱 😱 😱 😱 😱 😱 😱 😱 😱 😱 😱 😱 😱 😱 😱 😱
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Yatsa13 Veteran	19-Jul-2021 18:11        Yatsa13 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Manfred, more than amusing " Spokesperson is really amusing. A company needs $1.5b, but even before the deal is done, it caused lenders to lose around $1b because of this financing arrangement, hence reducing their financing ability. Is this considered MATERIAL enough or maybe $1b is still considered as trivial." Anyway tooooo tired to write anything. Let it drift laaaah just pick up the rights later. I should have just keep KC will do, my itchy finger bought some SMM. What is the deal for KC shareholders from the merger?   MANFREDTMK      ( Date: 19-Jul-2021 11:21) Posted: Any decision to rescind or modify the terms of the rights issue would need to be seriously considered by the board, taking into consideration any new material circumstances that may arise," the spokesperson added. Spokesperson is really amusing. A company needs $1.5b, but even before the deal is done, it caused lenders to lose around $1b because of this financing arrangement, hence reducing their financing ability. Is this considered MATERIAL enough or maybe $1b is still considered as trivial. Yatsa13      ( Date: 19-Jul-2021 11:01) Posted: Sias comprises of professionals.  Last week, the Securities Investors Association (Singapore) (Sias) pointedly asked Sembmarine what lessons it had learnt from the tepid response to its S$2.1 billion rights issue last year and what it is doing differently with the S$1.5 billion rights issue announced last month.  ​ Even a forumer, Manfred on 30 June said " The Rights issue is set and price wrongly. Based on the current issue of 3 Rights shares at 8 cents per share, for every 2 shares you owned, the ex-right price is 12.44 cents cents.The problem begins." The spokesperson also said the board had considered various financing options, and believed the rights issue to be in the best interest of the company and its shareholders. " Any decision to rescind or modify the terms of the rights issue would need to be seriously considered by the board, taking into consideration any new material circumstances that may arise," the spokesperson added. It will not stop here when such injustice is being done blalantly. My friends told me a group of minority shareholders are bringing the matter up.  The Sembmarine' s board cannot be collecting their salary and not protect the interest of Sembmarine.
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sutiono Veteran	19-Jul-2021 16:36        sutiono About Contact  Quote this Post!
x 0   x 0  Alert Admin	How many new job has SM won in the last 10 months ? How to sustsain with new jobs ? Why Korean and china yards can win but not SM ?
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naoshingo Elite	19-Jul-2021 16:12        naoshingo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Erm...how do you consider this good? But of course this will create a very low low base for next year upside.... MANFREDTMK      ( Date: 19-Jul-2021 15:57) Posted: Called it creative accounting or whatever, this is an excellent strategy going forward. Management is helping us. You will not be disappointed. etilatrop      ( Date: 19-Jul-2021 15:38) Posted: Shift burden from KC SHs after merger and from TH after takeover, onto current SMM SHs...obviousl
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MANFREDTMK Master	19-Jul-2021 15:57        MANFREDTMK About Contact  Quote this Post!
x 0   x 0  Alert Admin	Called it creative accounting or whatever, this is an excellent strategy going forward. Management is helping us. You will not be disappointed. etilatrop      ( Date: 19-Jul-2021 15:38) Posted: Shift burden from KC SHs after merger and from TH after takeover, onto current SMM SHs...obviously naoshingo      ( Date: 19-Jul-2021 15:29) Posted: Also another thing is that the higher loss is due to they front load all the increase in. Cost all the way till 2022. So SH is paying for these added cost till 2022... So I wonder if this is correct to front load all the cost all they way till 2022....plus the added costs are based on estimations. I felt this is not fair to SH. As it's merely an estimation..
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etilatrop Member	19-Jul-2021 15:38        etilatrop About Contact  Quote this Post!
x 0   x 0  Alert Admin	Shift burden from KC SHs after merger and from TH after takeover, onto current SMM SHs...obviously naoshingo      ( Date: 19-Jul-2021 15:29) Posted: Also another thing is that the higher loss is due to they front load all the increase in. Cost all the way till 2022. So SH is paying for these added cost till 2022... So I wonder if this is correct to front load all the cost all they way till 2022....plus the added costs are based on estimations. I felt this is not fair to SH. As it's merely an estimation..
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MANFREDTMK Master	19-Jul-2021 15:36        MANFREDTMK About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thank you for your invaluable insight. It makes sense given the circumstances happening around now. The challenge is up to the CEO to seize the opportunity going forward. I am sure after this episode, the management will be wised up, above all, putting more effort to protect shareholders, minority and majority. All are affected. I am not worried because the Industries are roaring back, more intense with time. Unless my prognosis is wrong, then all bets are off, but every indicators are pointing up at the moment. God bless and worry no more. Let BB do what needs to be done first, and God will take care of the rest. Don't worry, Be happy ICXGOLD      ( Date: 19-Jul-2021 15:06) Posted: In the 12 months following the rights issue SCM have a huge potential. When your average price is 8cents even a low ball offer of even 12cents is a 50% upside. Few things are inevitable in coming weeks  1) rights will go ahead - as the capital is needed to survive and its already a done deal with 1.5B coming in either from us or from TH. 2) it will immediately be followed by a mandatory offer which will give the new rights holders a good profit. All this negative publicity could work towards TH giving a better deal. As mentioned before SCM have a potential ONLY after the rights in completed. Prior to that, its a falling knife, heading towards 8cents. For every 200 shares sold now, we can get 300 shares at 8 cents, thats a 50% increase in the number of shares we hold without adding additional funds. The BB will make every price look attractive to buy as they are also waiting for the under 10 cent. Immediately following the rights management would like last time give some positive outlook. Which may or may not materialise but would atleast help stabilise the price after rights. With regards to the new green business, yes 50% of SCM business now focusing on green energy and we have 4 years experience but strangely Sembcorp Industries are the one winning those deals in past one year and we sitting waiting for our 3 almost confirmed of the 10 tenders for a year now.  What the management could do is learn to negotiate an all share deal with keppel and take the cash part of 500 million off the table and that by itself would bring some confidence back. Another thing the company could do is change the management team who the shareholder now have completely lost trust in both ability to perform and ability to protect shareholders interest. Until the end of this month we can expect a downward spiral specially due to the expected size of the losses going to be huge.
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uiop1223 Supreme	19-Jul-2021 15:35        uiop1223 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Commonly used tactic used by CEO. If this qtr is bad, may as well book all bad news this qtr. Then next few qtr will show good improvements. naoshingo      ( Date: 19-Jul-2021 15:29) Posted: Also another thing is that the higher loss is due to they front load all the increase in. Cost all the way till 2022. So SH is paying for these added cost till 2022... So I wonder if this is correct to front load all the cost all they way till 2022....plus the added costs are based on estimations. I felt this is not fair to SH. As it's merely an estimation..
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naoshingo Elite	19-Jul-2021 15:29        naoshingo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Also another thing is that the higher loss is due to they front load all the increase in. Cost all the way till 2022. So SH is paying for these added cost till 2022... So I wonder if this is correct to front load all the cost all they way till 2022....plus the added costs are based on estimations. I felt this is not fair to SH. As it's merely an estimation..
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ahhuat08 Elite	19-Jul-2021 15:28        ahhuat08 About Contact  Quote this Post!
x 0   x 0  Alert Admin	To each his own TigerPlay      ( Date: 19-Jul-2021 15:03) Posted: iyoh, look on the bright side of things 1) TH will make a mandatory offer of 15cts to 40cts 2) With the combined bigger stronger entity, more contract will come in and this counter will soar to beyond $2 or more, back to and beyond the hey day lor Like that will feel better mah, anyway we are oredy in it, learn to be positive lor   ahhuat08      ( Date: 19-Jul-2021 14:17) Posted: now the biggest fear hanging over this counter is 2 fold, after rights, G will make a low ball mandatory offer for all shares, 2, in the event if no offer is forthcoming, traders/investors have totally lost confidence in this counter, and there might be another rights issue on the way,  when other o & g counters rallied on the wti recovery and this one is still languishing in the low 10s, that already tell u something is fundamentally wrong. dyod
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Adrianinsing Elite	19-Jul-2021 15:21        Adrianinsing About Contact  Quote this Post!
x 0   x 0  Alert Admin	This chat group needs to be    SembCorp Marine- The Broken Frontier.     Rate topic  ICXGOLD      ( Date: 19-Jul-2021 15:06) Posted: In the 12 months following the rights issue SCM have a huge potential. When your average price is 8cents even a low ball offer of even 12cents is a 50% upside. Few things are inevitable in coming weeks  1) rights will go ahead - as the capital is needed to survive and its already a done deal with 1.5B coming in either from us or from TH. 2) it will immediately be followed by a mandatory offer which will give the new rights holders a good profit. All this negative publicity could work towards TH giving a better deal. As mentioned before SCM have a potential ONLY after the rights in completed. Prior to that, its a falling knife, heading towards 8cents. For every 200 shares sold now, we can get 300 shares at 8 cents, thats a 50% increase in the number of shares we hold without adding additional funds. The BB will make every price look attractive to buy as they are also waiting for the under 10 cent. Immediately following the rights management would like last time give some positive outlook. Which may or may not materialise but would atleast help stabilise the price after rights. With regards to the new green business, yes 50% of SCM business now focusing on green energy and we have 4 years experience but strangely Sembcorp Industries are the one winning those deals in past one year and we sitting waiting for our 3 almost confirmed of the 10 tenders for a year now.  What the management could do is learn to negotiate an all share deal with keppel and take the cash part of 500 million off the table and that by itself would bring some confidence back. Another thing the company could do is change the management team who the shareholder now have completely lost trust in both ability to perform and ability to protect shareholders interest. Until the end of this month we can expect a downward spiral specially due to the expected size of the losses going to be huge.
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ICXGOLD Master	19-Jul-2021 15:06        ICXGOLD About Contact  Quote this Post!
x 0   x 0  Alert Admin	In the 12 months following the rights issue SCM have a huge potential. When your average price is 8cents even a low ball offer of even 12cents is a 50% upside. Few things are inevitable in coming weeks  1) rights will go ahead - as the capital is needed to survive and its already a done deal with 1.5B coming in either from us or from TH. 2) it will immediately be followed by a mandatory offer which will give the new rights holders a good profit. All this negative publicity could work towards TH giving a better deal. As mentioned before SCM have a potential ONLY after the rights in completed. Prior to that, its a falling knife, heading towards 8cents. For every 200 shares sold now, we can get 300 shares at 8 cents, thats a 50% increase in the number of shares we hold without adding additional funds. The BB will make every price look attractive to buy as they are also waiting for the under 10 cent. Immediately following the rights management would like last time give some positive outlook. Which may or may not materialise but would atleast help stabilise the price after rights. With regards to the new green business, yes 50% of SCM business now focusing on green energy and we have 4 years experience but strangely Sembcorp Industries are the one winning those deals in past one year and we sitting waiting for our 3 almost confirmed of the 10 tenders for a year now.  What the management could do is learn to negotiate an all share deal with keppel and take the cash part of 500 million off the table and that by itself would bring some confidence back. Another thing the company could do is change the management team who the shareholder now have completely lost trust in both ability to perform and ability to protect shareholders interest. Until the end of this month we can expect a downward spiral specially due to the expected size of the losses going to be huge.
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TigerPlay Master	19-Jul-2021 15:03        TigerPlay About Contact  Quote this Post!
x 0   x 0  Alert Admin	iyoh, look on the bright side of things 1) TH will make a mandatory offer of 15cts to 40cts 2) With the combined bigger stronger entity, more contract will come in and this counter will soar to beyond $2 or more, back to and beyond the hey day lor Like that will feel better mah, anyway we are oredy in it, learn to be positive lor   ahhuat08      ( Date: 19-Jul-2021 14:17) Posted: now the biggest fear hanging over this counter is 2 fold, after rights, G will make a low ball mandatory offer for all shares, 2, in the event if no offer is forthcoming, traders/investors have totally lost confidence in this counter, and there might be another rights issue on the way,  when other o & g counters rallied on the wti recovery and this one is still languishing in the low 10s, that already tell u something is fundamentally wrong. dyodd MANFREDTMK      ( Date: 19-Jul-2021 14:04) Posted: Investors are forward looking. Yes, I agree we are being shortchanged big time, but let not look at the past. It's not going to be around anymore even though the first cut is the deepest. Look forward, for every door closes, 3 doors open. This is the brightening prospects going forward. Otherwise BB will not want to increase its stake to 67%. What is the implication? With only 33% free float, a small increase in demand is enough to cause a Squxxx on everybody face. Besides, not all Rights issue are bad. If the funds are used to finance projects with good IRR, the share price actually flys. So if the Combined Entity clinch big projects, a Rights issue is positive for share price, not negative. But as I mentioned many times when prices are falling, even though for the wrong reason, every justification will continue to be supported and validated, based on Hindsight.
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