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SembCorp Marine- The new Frontier.

TA_Expert
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18-Jul-2021 16:02

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Yells: "The World has changed"

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For those who bought under $0.14, the chances of making some profits may be possible.

Anyone who bought $0.20 especially those long term investors who bought at $1-4 are all being wiped out.

It is a true fact that SMM is a goner.

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better
Elite

18-Jul-2021 14:55

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I am very well, thanks for asking.

I have bought back @12 cents some of the shares I sold at 14+ cents.

I believe you should consider doing the same and leave just enough to subscribe for the right shares and 10-15% more for the excess right shares.

As most shares held by retail investors previously had changed hands, over the past 10 months, into the arms of stronger institutional players and bigger investors, I expect the rights issue to be almost fully subscribed.

Temasek' s existing cost per share is around 30 cents. After the rights issue, their estimated cost per share would be around 16.3 cents.

If your per share cost is lower than 16 cents after the rights issue, chances of making money over time would be high, given Temasek' s track record.

By buying back some shares, you also hedge against the risk of the rights issue being rejected. (Lesser than 10% chance).

The rights money would transform Sembmarine into more of a stable blue chip rather than a strong recovery story. In layman term, I would have to tamper my expectation in term of the potential percentage gain on my investment given the dilution.

newbie19 ( Date: 18-Jul-2021 12:36) Posted:

Bro better, how have you been lately? Would you mind share with us your recent SM shares that You sold partial of it at a lost, can tell us more? I lost $18K still holding 200K shares.. Thanks bro

better ( Date: 18-Jul-2021 11:54) Posted:

👍

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peterwong321
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18-Jul-2021 14:04

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8 also possible when issue right ........plus COVID condition bad

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piscesmonkey
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18-Jul-2021 13:06

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1 year low at 113. If break down 110 then can see 90 otw

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newbie19
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18-Jul-2021 12:36

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Bro better, how have you been lately? Would you mind share with us your recent SM shares that You sold partial of it at a lost, can tell us more? I lost $18K still holding 200K shares.. Thanks bro

better ( Date: 18-Jul-2021 11:54) Posted:

👍

ADS2200 ( Date: 17-Jul-2021 13:10) Posted:

Sutiono, sorry to interject. You can think like that, but when you are paid to be the ceo, you have to think differently - what and how to be in the competition.
Frankly I did not want to comment anymore. Hearing all the comments sadden my heart. I am sure God also feel the same.

Sias has raised the concerns of the minority shareholder. Many are the cries of investors.
You can joke about it " even God can' t help!"

I like the story of Moses, The heartless Pharaoh still refused to free the Israelite slaves. So God, brought about one last plague, which was so terrible that it was certain to persuade Pharaoh to let his slaves go.That night, God sent the angel of death to kill the firstborn sons of the Egyptians. God told Moses to order the Israelite families to sacrifice a lamb and smear the blood on the door of their houses. In this way the angel would know to ' pass over' the houses of the Israelites. This is why the festival commemorating the escape from Egypt is known as Passover.

We are in the midst of covid-19 which is also known as plague. The evil that one sows, he shall reap. Ill-gotten gain will not go with you when you leave the earth.
Many are the cries of those suffering because of some called it cunning/crafty man. Certainly not ingenious and resourceful thinking. Like you said, if temasek has such dishonest, unprofessional, unconscionable and unethical people around the days are numbered.

God is watching.

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better
Elite

18-Jul-2021 11:54

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👍

ADS2200 ( Date: 17-Jul-2021 13:10) Posted:

newbie19 ( Date: 17-Jul-2021 09:59) Posted:

All i can say is SMM is very dishonourably,unprofessional,unconscionable and unethical.....NOT MORALLY CORRECT.
Less than a year, another rights issue of 8cts!!!! With slightly more than $1B in cash and assets, what constitutes a second rights issues!!
It will come a day it will plunge into the lake to less than 10cts.

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uiop1223
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18-Jul-2021 11:52

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Shit Marine will ask ?annual dividends? from shareholders via rights issue 😂 😂 😂 😂 😂 😂

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newbie19
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18-Jul-2021 11:50

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Screwed up twice is more than enough... Who knows 3rd rights issue next year again...Only God knows.

newbie19 ( Date: 18-Jul-2021 11:48) Posted:

SMM is NO more during the heyday...... To Long easily take more than 3 years honestly speaking. I just hope that as long as it can reach 20cts..i will sell it off and close the chapter....

uiop1223 ( Date: 18-Jul-2021 10:39) Posted:

Stupid right? Buy property, top up money in CPF etc earn more money than this Shit Marine

Buy SGX counter itself. Long to enjo

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newbie19
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18-Jul-2021 11:48

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SMM is NO more during the heyday...... To Long easily take more than 3 years honestly speaking. I just hope that as long as it can reach 20cts..i will sell it off and close the chapter....

uiop1223 ( Date: 18-Jul-2021 10:39) Posted:

Stupid right? Buy property, top up money in CPF etc earn more money than this Shit Marine

Buy SGX counter itself. Long to enjoy

SembMarineLong ( Date: 17-Jul-2021 23:42) Posted:

All I can say is we have to wait quite a long time to enjo

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uiop1223
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18-Jul-2021 10:39

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Stupid right? Buy property, top up money in CPF etc earn more money than this Shit Marine

Buy SGX counter itself. Long to enjoy

SembMarineLong ( Date: 17-Jul-2021 23:42) Posted:

All I can say is we have to wait quite a long time to enjoy

newbie19 ( Date: 17-Jul-2021 15:44) Posted:

Exactly, this is All of us thought of striking Gold during the halt BUT it was a BOMB instead

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sutiono
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18-Jul-2021 07:40

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Retail investors are their ATM .

ahbui8 ( Date: 18-Jul-2021 00:31) Posted:

Beware don' t anyhow long a stock in SGX market, I believed from this SM rights issue example, many others may follow to offer rights if they need funds.

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ahbui8
Master

18-Jul-2021 00:31

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Beware don' t anyhow long a stock in SGX market, I believed from this SM rights issue example, many others may follow to offer rights if they need funds.

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SembMarineLong
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17-Jul-2021 23:42

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All I can say is we have to wait quite a long time to enjoy

newbie19 ( Date: 17-Jul-2021 15:44) Posted:

Exactly, this is All of us thought of striking Gold during the halt BUT it was a BOMB instead!

SembMarineLong ( Date: 17-Jul-2021 15:32) Posted:

I feel you newbie19, I did the same. During the dip from 20 cents to 19.5 I added 80K shares. When the halt begin, most ppl thought merger was a good thing till they came out with another rights. Lots of longist got outplayed badly.

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sutiono
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17-Jul-2021 23:11

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Long to enjoy or long to subscribe more right issues ?

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etilatrop
Member

17-Jul-2021 18:26

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Honestly, there is nothing minority SHs can do. Either they suffer loses and get muscled out, or bleed themselves dry and pay for rights this year, next year, etc...

They cannot control SMM to win orders, cut costs, or anything really.

imho, I feel that the CFO was removed months ago to clear a hindrance to plans for the current series of manoeuvres.

Minority SHs and long-time supporters can only accept that they have been suckered.

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better
Elite

17-Jul-2021 18:26

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First new Tyra platform set to sail away from Singapore

PROJECT & TENDERS

July 6, 2021, by Nermina Kulovic

The first new platform for the TotalEnergies-operated and delayed Tyra project, located in the Danish North Sea, is now ready to sail away.

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newbie19
Supreme

17-Jul-2021 17:28

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Good write up....appreciate very much...

Yatsa13 ( Date: 17-Jul-2021 16:42) Posted:

vested thinking state funds doing good to save these pandemic-roiled business - read the article below .... phew what noteworthy are you talking about .... noteworthy to cheat and connive with the underwriter on the rights issue. use the BT to propagate rubbish to do their evil deeds.
https://www.businesstimes.com.sg/government-economy/temaseks-s13b-rescue-of-leading-singapore-corporates-aligned-with-its-long-term

minority shareholders trust they will act in good faith, in the interest of the company, not doing charity but to put together a merger plan. instead the planners hatched an evil plan to cheat and those who trusted them were caught off guard, like what newbie19 said. together with the underwriter, dbs underwrite 2 smm shares for 3 rights at S$0.08 to kill all the minority shareholders and cause a blood bath. if no authority weight in, this outcry will reach heaven and rain ... some said karma, retribution, etc. like ahbui8 said he kenna china stock and ezion ,,,, got nothing to say but for sm, i totally feel cheated. it' s was a man made rout and most unacceptable is by made by our State fund.

SINGAPORE' s Temasek Holdings has ploughed at least S$13 billion since last year - and is set to spend more - into sector bigwigs from the national airline to an agri-food giant, a shipping line and offshore and marine firm, most of which involves funding to save these pandemic-roiled businesses.
Singapore' s offshore and marine sector has long been a pillar of the city state' s economic progress and transformation. Having weathered a downturn amid depressed oil prices since 2014/2015, the sector has made big moves as it pivots to tap opportunities in the booming offshore renewables and green energy space.

Noteworthy is that Temasek owns majority stakes in some of these firms. For that reason too, Justin Tang, research head for Asia at United First Partners, deemed Temasek' s backing as " nothing out of the ordinary" , more so as some of these firms were at " ground zero" of the pandemic and faced the possibility of becoming insolvent.

One example is the Temasek-backed demerger of Sembcorp Industries and Sembcorp Marine (Sembmarine) last year. Temasek had agreed to support a S$2.1 billion rights issue by Sembmarine, by sub-underwriting S$600 million of the rights issue. The move to deconsolidate the conglomerate resulted in the creation of more focused units to create shareholder value, said Mr Chua.

manfred said " not too late to rectify/undo the wrong that was done by the unethical planners involved in this merger plan." instead of having the rights at 8c the rights can be price at 16c and yield the same result.

newbie19 ( Date: 17-Jul-2021 14:52) Posted:

Yes, cheated miserably....i bought 500K of SMM at 19.8cts just 3 or 2 days before the second rights issue....
Caught me off guard!!!!! Shit.
Anyway, it`s unethical....sold 300K at a lost of 14cts...
still holding 200K...

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Yatsa13
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17-Jul-2021 17:19

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Look like Sias has the same view with regard to the basis for its right issue price of eight cents per share. Had it been 2 shares for 1.5 rights @ 16cts. It will still yield the same result of S$1.5b.

Noting that other offshore and marine (O& M) players have not gone through this rights issue, Sias questioned the necessity and criticality of this rights issue.

Sias also questioned the group' s basis for its rights issue price of eight cents per share and queried the total rights proceeds and utilisation of the $1.5 billion raised.
Sias noted that the rights issue will represent a significant discount and dilution to minority shareholders, at 35.7 per cent to the theoretical ex-rights price and a bigger 58.1 per cent discount to the counter' s close at 19.1 cents on June 23.

MANFREDTMK ( Date: 26-Jun-2021 15:31) Posted:

It puzzles me even more as to why DBS set the exercise price 60% below the market price. I have never seen this in history that exercise price be set below 50%, let alone 60%. Anyway, this is just a forum where people shares their opinions and findings, it can be right or wrong. Don't take it too personal. Everyone see things differently, that's why we can make money from trading. If everyone see things the same, then the world will have a big problem. All have the same girlfriend. Joking only.

MANFREDTMK ( Date: 26-Jun-2021 15:21) Posted:

Proposed renounceable underwritten rights issue to raise gross proceeds of approximately S$1.5 billion The rights shares will not be offered to foreign shareholders, subject to certain limited exceptions and/or unless otherwise reasonably determined by the directors that the rights shares may be offered based on applicable securities legislation. Hi Abe, I hope I am wrong.

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Yatsa13
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17-Jul-2021 16:48

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found his earlier post. " Precisely..... damage could be avoided if priced at 1.5 rights for every 2 share @0.16"

msksmsks ( Date: 26-Jun-2021 18:58) Posted:

Precisely..... damage could be avoided if priced at 1.5 rights for every 2 share @0.16

The same amt of fund can be raised and not much downside least mentioned flooded with so much shares and subject to consolidation in future.

Ultimate winner only goes to TH and in fact, I believe some insiders already knew abt the deal and quickly sell out couple days bk before the plunge .

Now not only we face anxiety but also uncertainty gg fwd with the merger discussion gg on till anything being finalized ard year end as indicated by CEO of keppel.

Honestly, my faith (not completely lost) had been shattered with this pathetic outcome.

Nevertheless, I still believe O&M sector is recovering thus ride out the volatility

Cheers

MANFREDTMK ( Date: 26-Jun-2021 17:48) Posted:

All the while, foreign funds are not allowed to subscribe. It's not unique to this share only. This is why the pricing of the rights price is extremely important. In Sembcorp Marine case, it's extreme, 60% below market price. That's why the share price tumbled, even on good news. As I kept mentioning, all these will be avoided if the Rights issue is 1.5 shares at 16 cents each, for every 2 existing shares you own, then the ex-right price will be 18.28 cents. So the foreign funds need not have to sell below that price. And yet Sembcorp Marine still receive the same $1.5b, without causing so much distress and anxiety to all its loyal shareholders. The unintended consequences have led many to believe that the proposed exercise is a great disaster, although I must admit the financial terms of the merger favor Keppel Corp. Hope Temasek can understand the plight of Sembcorp Marine holders who have already suffered deep enough to come up with better terms to help Sembcorp Marine shareholders. Their anxiety till September for the Rights issue to be over, and then to wait for the results of the merger can be psychological destructive for existing shareholders. Pray for divine intervention to keep your sanity.

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Yatsa13
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17-Jul-2021 16:42

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newbie19 ( Date: 17-Jul-2021 14:52) Posted:

ahbui8 ( Date: 17-Jul-2021 14:19) Posted:

Anyway I' m not those crying baby blaming other, In the past, I do have total loss on 2 SG China stock China milk and celestial, the most recent is Ezion. This 3 total losses I accepted for my poor vision and judgment. But for SM share, I totally feel cheated, it' s was a man made rout and most unacceptable is by made by our State fund.

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