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Yes, saw the news yesterday. Sembmarine' s announcement is much clearer.
Pretty much expected and a slightly positive news as Sembmarine will receive $20+ million cash as ecxtension fee next month.
Borr drilling owes Sembmarine about $1.1 billion and Keppel OM about $400million.
SCM is in much better position than Keppel OM as they have delivered all the 9 rigs in 2018/19 and the amount owing has been earning interest @4.5% p.a.
Keppel only managed to deliver 3 rigs in 2020 and the rest of the 5 completed rigs are sitting at its yard pending delivery in 2023 or later.
The news is expected as Borr drilling is not going to be able to pay $1.1 billion next May as they only managed to farm out most of the rigs this year due to the covid disruption.
bystander1965 ( Date: 28-Dec-2021 07:54) Posted:
| Singapore, 28 December 2021 ? Sembcorp Marine Ltd (the ?Company?) wishes to
announce that its wholly-owned subsidiary, PPL Shipyard Pte Ltd (?PPLS?), has reached in-
principle agreement (?Agreement?) with Borr Drilling Limited (?Borr Drilling?) to defer PPLS?
receivables from Borr Drilling from 2023 to 2025.
😐 |
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Singapore, 28 December 2021 ? Sembcorp Marine Ltd (the ?Company?) wishes to
announce that its wholly-owned subsidiary, PPL Shipyard Pte Ltd (?PPLS?), has reached in-
principle agreement (?Agreement?) with Borr Drilling Limited (?Borr Drilling?) to defer PPLS?
receivables from Borr Drilling from 2023 to 2025.
😐
Stock market, by nature is roller coaster. If that is your concern, trading is not for you. Maybe buy property and collect rental is much suitable to you. After holding for more than 15 years, likely can fully pay off your unit with rental
naoshingo ( Date: 27-Dec-2021 17:10) Posted:
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Amen!
MANFREDTMK ( Date: 25-Dec-2021 00:34) Posted:
Merry Christmas to everyone. May God gives some blessings to Sembcorp Marine.
better ( Date: 24-Dec-2021 21:26) Posted:
| Business Times seems to be very pro Sembmarine. Just look at the news report on the Arbitration.... |
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Old wine in new bottles
better ( Date: 27-Dec-2021 11:39) Posted:
Hey ChangTai, welcome back.
Starship ( Date: 27-Dec-2021 11:17) Posted:
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Hey ChangTai, welcome back.
Starship ( Date: 27-Dec-2021 11:17) Posted:
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He not just burnt by SMM alone. Look at all his buy called on Keppel Corp, PropNex and Starhub, all underwater...
Let' s see how long he can hold on short position for SMM. Short needs to pay interest lo
MANFREDTMK ( Date: 27-Dec-2021 09:07) Posted:
Don't even need TH backing now, the financial position is very strong now after the recapitalization. He is merely hoping for bad things that have never happened like more lawsuits, bankruptcy, etc, will quickly happen to feed his sadism. He chose to assume and EXAGGERATE all bad events will happen to SM in the future as if he is a fortune teller and can tell the future, where no one else can predict. I strongly believe he must have been burned by SM before. Hell has no fury like a woman scorned.
alleyboy ( Date: 27-Dec-2021 08:51) Posted:
| Got TH backing mah. Just like SI |
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Don't even need TH backing now, the financial position is very strong now after the recapitalization. He is merely hoping for bad things that have never happened like more lawsuits, bankruptcy, etc, will quickly happen to feed his sadism. He chose to assume and EXAGGERATE all bad events will happen to SM in the future as if he is a fortune teller and can tell the future, where no one else can predict. I strongly believe he must have been burned by SM before. Hell has no fury like a woman scorned.
alleyboy ( Date: 27-Dec-2021 08:51) Posted:
Got TH backing mah. Just like SIA
better ( Date: 26-Dec-2021 22:30) Posted:
Hahaha.....funny comment
SCM' s cash balance
As at 31st Dec 2020: $772 million
As at 30th June Dec 2021: $778 million (+$6 million)
After that, collected $1.5 billion from rights issue
Paid off $430 million short term debt
Collected cash for deliveries of Hornsea 2 and Tyra East platforms and various repair/ upgrade projects.
Go figure what is SCM' s cash balance at 31st Dec 2021 |
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Got TH backing mah. Just like SIA
better ( Date: 26-Dec-2021 22:30) Posted:
Hahaha.....funny comment
SCM' s cash balance
As at 31st Dec 2020: $772 million
As at 30th June Dec 2021: $778 million (+$6 million)
After that, collected $1.5 billion from rights issue
Paid off $430 million short term debt
Collected cash for deliveries of Hornsea 2 and Tyra East platforms and various repair/ upgrade projects.
Go figure what is SCM' s cash balance at 31st Dec 2021?
chart_expert123 ( Date: 26-Dec-2021 21:14) Posted:
| SCM 1.5bil raised in sep only left 970mio in Nov. This is 100mio sgd. SCM can burn 100-200mio per month. So it is not 1 time burnt. Furthermore, this is only 1 vendor, there are many vendors may take action since the earlier they lock in the lawsuit, they are rank in early queue for payments if SCM is forced to winding up |
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He constantly hopes for SM to go bankrupt so that he can enjoy watching us suffering. Fortunately, he is terribly bad with numbers, accounting, economics and finance. His dying wish will forever remain a dream, only his karma will materialise, 7 folds
better ( Date: 26-Dec-2021 22:30) Posted:
Hahaha.....funny comment
SCM' s cash balance
As at 31st Dec 2020: $772 million
As at 30th June Dec 2021: $778 million (+$6 million)
After that, collected $1.5 billion from rights issue
Paid off $430 million short term debt
Collected cash for deliveries of Hornsea 2 and Tyra East platforms and various repair/ upgrade projects.
Go figure what is SCM' s cash balance at 31st Dec 2021?
chart_expert123 ( Date: 26-Dec-2021 21:14) Posted:
| SCM 1.5bil raised in sep only left 970mio in Nov. This is 100mio sgd. SCM can burn 100-200mio per month. So it is not 1 time burnt. Furthermore, this is only 1 vendor, there are many vendors may take action since the earlier they lock in the lawsuit, they are rank in early queue for payments if SCM is forced to winding up |
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Hahaha.....funny comment
SCM' s cash balance
As at 31st Dec 2020: $772 million
As at 30th June Dec 2021: $778 million (+$6 million)
After that, collected $1.5 billion from rights issue
Paid off $430 million short term debt
Collected cash for deliveries of Hornsea 2 and Tyra East platforms and various repair/ upgrade projects.
Go figure what is SCM' s cash balance at 31st Dec 2021?
chart_expert123 ( Date: 26-Dec-2021 21:14) Posted:
SCM 1.5bil raised in sep only left 970mio in Nov. This is 100mio sgd. SCM can burn 100-200mio per month. So it is not 1 time burnt. Furthermore, this is only 1 vendor, there are many vendors may take action since the earlier they lock in the lawsuit, they are rank in early queue for payments if SCM is forced to winding up.
MANFREDTMK ( Date: 26-Dec-2021 13:17) Posted:
| I have $1,520 in my bank account. Yesterday I bought 4D and lost $76. I am now very worried because it's going to burn a Big Hole in my bank account. Very Worried. How uh 😭 😭 😭 |
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" When company growth with revenue.........."
Starhub' s financial numbers (Source: Yahoo Finance)
2017
Total revenue- $2.400 billion
Net income- $249 million
2019
Total revenue- $2.330 billion
Net income- $186.3 million
Latest 12 months
Total revenue- $2.042 billion
Net income- $148.4 million
Further, 5G means huge capital expenditure and cash outflow in the coming years. Maybe a rights issue since Starhub cannot borrow much more now with its high debt/ equity ratio?
Singtel
Price/ Book- 1.46x
Debt/ Equity- 0.43x
Starhub
Price/ Book- 4.3x
Debt/ Equity- 2.3xchart_expert123 ( Date: 26-Dec-2021 21:04) Posted:
"when company growth with revenue and net positive cash flow(generate cash, not like SCM cash burnt), liabilities can leave it aside." SCM liabilities cannot be ignored, because revenue is decline and net cash flow is negative.
better ( Date: 25-Dec-2021 23:51) Posted:
CE_123' s words of wisdom- " liabilities can leave it aside..."
Presented without comment:
Singtel
Price/ Book- 1.46x
Debt/ Equity- 0.43x
Starhub
Price/ Book- 4.3x
Debt/ Equity- 2.3x
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SCM 1.5bil raised in sep only left 970mio in Nov. This is 100mio sgd. SCM can burn 100-200mio per month. So it is not 1 time burnt. Furthermore, this is only 1 vendor, there are many vendors may take action since the earlier they lock in the lawsuit, they are rank in early queue for payments if SCM is forced to winding up.
MANFREDTMK ( Date: 26-Dec-2021 13:17) Posted:
I have $1,520 in my bank account. Yesterday I bought 4D and lost $76. I am now very worried because it's going to burn a Big Hole in my bank account. Very Worried. How uh 😭 😭 😭
Stocky901 ( Date: 25-Dec-2021 16:17) Posted:
| Going to burn a big hole underneath the sinking ship.. 7 series next week? |
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SCM net cash flow was nearly negative 500mio which mean not even able to pay for the borrowing interest or payment to all parties. A merely 76mio usd or 100mio sgd payment can be sued for bankruptcy by creditors.
chart_expert123 ( Date: 26-Dec-2021 21:04) Posted:
"when company growth with revenue and net positive cash flow(generate cash, not like SCM cash burnt), liabilities can leave it aside." SCM liabilities cannot be ignored, because revenue is decline and net cash flow is negative.
better ( Date: 25-Dec-2021 23:51) Posted:
CE_123' s words of wisdom- " liabilities can leave it aside..."
Presented without comment:
Singtel
Price/ Book- 1.46x
Debt/ Equity- 0.43x
Starhub
Price/ Book- 4.3x
Debt/ Equity- 2.3x
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"when company growth with revenue and net positive cash flow(generate cash, not like SCM cash burnt), liabilities can leave it aside." SCM liabilities cannot be ignored, because revenue is decline and net cash flow is negative.
better ( Date: 25-Dec-2021 23:51) Posted:
CE_123' s words of wisdom- " liabilities can leave it aside..."
Presented without comment:
Singtel
Price/ Book- 1.46x
Debt/ Equity- 0.43x
Starhub
Price/ Book- 4.3x
Debt/ Equity- 2.3x
chart_expert123 ( Date: 25-Dec-2021 15:07) Posted:
| 1.35-1.39 is 1.5 years high. 😂 😂 😂 . Who bought within 1.5 years are holding profit now. Starhub is temasek baby, when company growth with revenue and net positive cash flow(generate cash, not like SCM cash burnt), liabilities can leave it aside. Starhub new CEO already set target to turn starhub profit to 400 over mio per year in 4 years, if as per plan, 4 year later starhub will be above 4.5 dollars. What is SCM plan? No future at all |
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Sembmarine unit faces arbitration over equipment supply contracts
FRI, DEC 24, 2021 - 8:40 AM
UPDATED FRI, DEC 24, 2021 - 2:32 PM
Jurong Shipyard' s vendor is alleging breach of four contracts for the supply of equipment for some of the company' s projects.
PHOTO: BLOOMBERG
SEMBCORP Marine (Sembmarine) Sembcorp Marine: S51 0% on Friday (Dec 24) announced that its wholly-owned subsidiary Jurong Shipyard has received a notice of commencement of arbitrations from a vendor over 4 separate contracts.
The vendor is alleging breach of the contracts, which are for the supply of equipment for some of Jurong Shipyard' s projects.
Under these contracts, it is claiming payment for invoices amounting to US$76 million plus other costs and interests, which Sembmarine said " remain to be proved" by the vendor.
According to Sembmarine, Jurong Shipyard, which provides services such as ship repair, shipbuilding and ship conversion, maintains that these contracts have been validly suspended or terminated.
The group also said both parties were previously in discussions over the payment claims for such suspension or termination, but have yet to reach an agreement.
Jurong Shipyard has engaged legal advisers for the arbitration proceedings and will defend all claims made against it, said Sembmarine.
The latest development is another blow to the embattled offshore and marine company, which is having a difficult year battling pandemic-related supply chain disruptions and labour issues.
Sembmarine said in a third-quarter update that it continues to face Covid-19 supply chain constraints and shortages of skilled workers.
These were " seriously affecting" its projects, delaying the scheduled completion of several projects between 1 and 3 months.
Sembmarine&rsquo s shares appear to be trading well below their &ldquo estimated value range&rdquo , which was deemed to be between S$0.125 and S$0.14 per share by its independent financial adviser.
It has been more than 4 months since shares of Sembmarine traded close to the bottom end of this estimated value range. Shares of Sembmarine trading have traded closer to Temasek&rsquo s offer price of S$0.08 instead.
The counter closed flat at S$0.082 on Dec 24, after the news.
better ( Date: 24-Dec-2021 21:26) Posted:
| Business Times seems to be very pro Sembmarine. Just look at the news report on the Arbitration.... |
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I have $1,520 in my bank account. Yesterday I bought 4D and lost $76. I am now very worried because it's going to burn a Big Hole in my bank account. Very Worried. How uh 😭 😭 😭
Stocky901 ( Date: 25-Dec-2021 16:17) Posted:
Going to burn a big hole underneath the sinking ship.. 7 series next week?
MakeChanges ( Date: 24-Dec-2021 08:03) Posted:
RECEIPT OF NOTICE OF ARBITRATION
Sembcorp Marine Ltd (the ' Company' ) wishes to inform
that its wholly-owned subsidiary, Jurong Shipyard Pte Ltd (' JSPL' ) has received a notice of
commencement of four arbitrations from a vendor (the ' Vendor' ) under four separate
contracts for the supply of certain equipment for some of its projects.
JSPL maintains that the contracts for the supply of equipment were validly suspended or
terminated. Parties have been in discussions over the payment claims from the Vendor for
such suspension or termination, but have yet to reach an agreement. The Vendor has now
commenced arbitration proceedings making allegations of breach and for payment. The
amounts purportedly claimed are for invoices of approximately USD76 million plus other costs
and interests under the four contracts, all of which remain to be proved by the Vendor.
JSPL has engaged legal advisers for the four arbitrations proceedings and will defend all
claims made against it.
The Company will provide updates on material developments on this matter as appropriate.
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SMM said it already said work / mat's supplied terminated why still got cases leh ? Vendors / supplier s cannot read English ?
Stocky901 ( Date: 25-Dec-2021 16:17) Posted:
Going to burn a big hole underneath the sinking ship.. 7 series next week?
MakeChanges ( Date: 24-Dec-2021 08:03) Posted:
RECEIPT OF NOTICE OF ARBITRATION
Sembcorp Marine Ltd (the ' Company' ) wishes to inform
that its wholly-owned subsidiary, Jurong Shipyard Pte Ltd (' JSPL' ) has received a notice of
commencement of four arbitrations from a vendor (the ' Vendor' ) under four separate
contracts for the supply of certain equipment for some of its projects.
JSPL maintains that the contracts for the supply of equipment were validly suspended or
terminated. Parties have been in discussions over the payment claims from the Vendor for
such suspension or termination, but have yet to reach an agreement. The Vendor has now
commenced arbitration proceedings making allegations of breach and for payment. The
amounts purportedly claimed are for invoices of approximately USD76 million plus other costs
and interests under the four contracts, all of which remain to be proved by the Vendor.
JSPL has engaged legal advisers for the four arbitrations proceedings and will defend all
claims made against it.
The Company will provide updates on material developments on this matter as appropriate.
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