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There are lots of business waiting... -
December 24, 2020,
In the last few days of December 2020, South Korean shipbuilders are witnessing a surge in liquefied natural gas (LNG) carrier orders. https://www.offshore-energy.biz/korean-shipbuilders-report-lng-carrier-ordering-spree/
South Korean shipbuilding heavyweight Korea Shipbuilding & Offshore Engineering (KSOE) has won orders for a total of six containerships worth approximately $818.4 million (KRW 891 billion). https://www.offshore-energy.biz/ksoe-nets-order-for-6-containerships/
December 24, 2020,
In the last few days of December 2020, South Korean shipbuilders are witnessing a surge in liquefied natural gas (LNG) carrier orders. https://www.offshore-energy.biz/korean-shipbuilders-report-lng-carrier-ordering-spree/
January 5, 2021
South Korean shipbuilding heavyweight Korea Shipbuilding & Offshore Engineering (KSOE) has won orders for a total of six containerships worth approximately $818.4 million (KRW 891 billion). https://www.offshore-energy.biz/ksoe-nets-order-for-6-containerships/
Sembcorp Marine
Weekly Short Sale Report 20201228 to 20210101 https://api2.sgx.com/sites/default/files/reports/short-sell/2021/01/ShortSellReport20201228to20210101.txt
ShortSaleVolume 57,144,700 ShortSaleValue SGD$8,167,322.80 Shorts Volume went down with prices going up since Christmas. A little short-covering i guess.
Abe8888 ( Date: 01-Jan-2021 19:26) Posted:
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Better, you are right and it is the most recent quarter (mrq)
Balance sheet
| Total cash (mrq) | 1.11B |
| Total cash per share (mrq) | 0.53 |
| Total debt (mrq) | 5.63B |
| Total debt/equity (mrq) | 279.35 |
| Current ratio (mrq) | 0.93 |
| Book value per share (mrq) | 0.95 |
better ( Date: 05-Jan-2021 21:07) Posted:
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Seems like we have a good close today.
During the dark days of SMM a few months back, we would see it close 14.8 or 14.9 instead of closing with a 5 handle, based on today' s market action.
Pretty decent support.
During the dark days of SMM a few months back, we would see it close 14.8 or 14.9 instead of closing with a 5 handle, based on today' s market action.
Pretty decent support.
I would venture to say that they have over S$2 billion cash on hand as at 31st Dec 2020.
Pre rights issue cash balance- 1.1 billion (Search yahoo finance for S51. Click on statistic. Scroll down to " total cash" tab)
Cash from rights issue- 600mil
Government Covid aids paid out in cash- estimated 50 to 100mil
Cash from projects completion- a couple of projects completed in 2020. estimated about 200-300 mil which is cash flow positive.
For those who understanding accounting principle, the losses reported in 2020 are mostly non cash events, accelerated depreciation of yard/ equipment value. Mainly to push through the rights issue and the upcoming merger. In pther words, Sembmarine need not report a loss if they don' t want to. This is called creative accounting.
Likewise for Keppel O& M.
Pre rights issue cash balance- 1.1 billion (Search yahoo finance for S51. Click on statistic. Scroll down to " total cash" tab)
Cash from rights issue- 600mil
Government Covid aids paid out in cash- estimated 50 to 100mil
Cash from projects completion- a couple of projects completed in 2020. estimated about 200-300 mil which is cash flow positive.
For those who understanding accounting principle, the losses reported in 2020 are mostly non cash events, accelerated depreciation of yard/ equipment value. Mainly to push through the rights issue and the upcoming merger. In pther words, Sembmarine need not report a loss if they don' t want to. This is called creative accounting.
Likewise for Keppel O& M.
SembMarine now already got 1.6-1.7 billion cash on hand. Its market cap is now about 1.87 billion. Junk? U must be kidding
jesmarnew ( Date: 05-Jan-2021 10:29) Posted:
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You are still in a dreamed land waiting for it to drop below 10 cts.
where is your Analysis NOT predictions!
where is your Analysis NOT predictions!
jesmarnew ( Date: 05-Jan-2021 10:29) Posted:
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hahaha, he ownself talk ownself soong!
pkli899 ( Date: 05-Jan-2021 10:47) Posted:
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I' m wondering, u waiting for 10 c to buy?
If it' s junk, 1 c also cannot buy mah.
Care to explain?
If it' s junk, 1 c also cannot buy mah.
Care to explain?
jesmarnew ( Date: 05-Jan-2021 10:29) Posted:
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Not worth second look time being
And why are you here so often to talk about this counter?
And why are you here so often to talk about this counter?
jesmarnew ( Date: 05-Jan-2021 10:29) Posted:
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When you think this is up, this will go down but when you think this is down, this will surprise you.
Not surprise to see it close green today.
Not surprise to see it close green today.
Dont be fooled by merger talk....it' s pump and dump by traders rewinding this news....on current climate in Oil & Gas here the bigger the hole bigger....just sit back and wait to pick up below 10 cts this year!!!! It' s junk inisde.....everyday management meeting is talking about debts and bank payment!!! Not worth second look time being!!!!
Collected a small bunch at 15 cents to support. 
Trade safe and DYODD!
Trade safe and DYODD!
After the merger, SMM share price will double or triple over time because the profit potential of the merged entity will double or triple compare to if they are separated.
That is the reason why Temasek is bend on the merger.
As Temasek will need to pay Keppel to buy a part of the Keppel O& M or subscribe to SMM shares with cash, that cash transaction will provide a value to SMM and Keppel O& M.
The cash transaction by Temasek will likely value SMM at about 1.5 times book value or 45 cents per share. Because if the offer is too low, SMM shareholders can veto the deal then it will be a no go.
That is the reason why Temasek is bend on the merger.
As Temasek will need to pay Keppel to buy a part of the Keppel O& M or subscribe to SMM shares with cash, that cash transaction will provide a value to SMM and Keppel O& M.
The cash transaction by Temasek will likely value SMM at about 1.5 times book value or 45 cents per share. Because if the offer is too low, SMM shareholders can veto the deal then it will be a no go.
@better
LuckyCharm_SMS ( Date: 05-Jan-2021 08:39) Posted:
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Profit taking leow.
Can please help understand as to what would happen if SMM were to absorb KOM? Would SMM stock plummet again. Or would there be another round of rights issue and dilution to buy out Kom?
better ( Date: 04-Jan-2021 23:56) Posted:
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No delisting. Temasek does not delist their holding companies unless totally no choice.
Also much easier to get SMM sharehodlers to agree to absorb Keppel O& M then to get them to agree to sell out their shares when SMM is in totally no financial duress.
The chain of event that I described is the most logical and easiest to execute. Time is of essence here. So need to get everything done chop chop as the offshore boom is just around the corner.
But after SMM absorb Keppel O& M, they can take up the name I proposed a few months back- Singapore Offshore and Renewable.
Nowadays, with ESG investing in vogue, any company with the name tag " renewable" can sell for a few times more.
Also much easier to get SMM sharehodlers to agree to absorb Keppel O& M then to get them to agree to sell out their shares when SMM is in totally no financial duress.
The chain of event that I described is the most logical and easiest to execute. Time is of essence here. So need to get everything done chop chop as the offshore boom is just around the corner.
But after SMM absorb Keppel O& M, they can take up the name I proposed a few months back- Singapore Offshore and Renewable.
Nowadays, with ESG investing in vogue, any company with the name tag " renewable" can sell for a few times more.
Bro Better, do you think SM will be delisted and a new entity be listed ?
Or would the set up be like the Capitalmall trust where just one get delisted
Or would the set up be like the Capitalmall trust where just one get delisted
better ( Date: 04-Jan-2021 23:07) Posted:
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Decision day for Keppel corp due end of this week to next week. Clock running down fast.
As mentioned a week ago, the likely chain of events should start with Temasek buying over a portion of Keppel O& M with cash. Then Sembmarine issues new shares (non cash event) to Keppel Corp and Temasek to absorb Keppel O& M.
The problem is finding the right price for Keppel Corp and Sembmarine shareholders to agree.
I think the right price which all parties can accept and not too out of character for Temasek' s stingy nature should be about 1.5x book value.
So, if a merger were to be tabled in the next few weeks,, it should value Sembmarine at about 45 cents per share.
That would be the beginning of the journey into the new frontier.
Now, the last piece of the puzzle is the progress of the Hyundai heavy and DSWE merger which is still pending EU antitrust body' s approval. But I don' t think Temasek can wait much longer as the offshore boom is right about now. Miss this window and the next opportunity will be in 10+yrs time.
As mentioned a week ago, the likely chain of events should start with Temasek buying over a portion of Keppel O& M with cash. Then Sembmarine issues new shares (non cash event) to Keppel Corp and Temasek to absorb Keppel O& M.
The problem is finding the right price for Keppel Corp and Sembmarine shareholders to agree.
I think the right price which all parties can accept and not too out of character for Temasek' s stingy nature should be about 1.5x book value.
So, if a merger were to be tabled in the next few weeks,, it should value Sembmarine at about 45 cents per share.
That would be the beginning of the journey into the new frontier.
Now, the last piece of the puzzle is the progress of the Hyundai heavy and DSWE merger which is still pending EU antitrust body' s approval. But I don' t think Temasek can wait much longer as the offshore boom is right about now. Miss this window and the next opportunity will be in 10+yrs time.