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Sembmarine

For those who bought at $3, they will lose either way - the issue is whether they will lose    less if Temasek offers a better deal. Obviously the answer is yes since if Temasek privatises instead of doing a rights issue, people don' t have to cough up money to prevent dilution. 

Even right now, Temasek *already* has a 30% stake in SCM (though indirectly), they still cannot let it fail right?

arctician1982      ( Date: 09-Jun-2020 17:16) Posted: how can they come up with better deal, if temasek or SCI buy out SMM or privatize it, it will probably have 30-40% premium, and those who bought at $3 still have to realize the losses...if reject privatization we will go full circle and they still need pay $1.5B loan I am thinking to use the chance to apply for excess at 0.20 then lower down average price, at least with 30% stake from temasek SMM wont go under   bigideas149      ( Date: 09-Jun-2020 16:47) Posted: Yea I see your point - but if this deal does not go through, SCI will still own 61% of SCM, so can force SCI/ Temasek to offer a better deal no? SCI will lose big big if no recapitalisation allowed. I think this deal right now is very dilutive to SCM shareholders and force them to subsidise SCI shareholders - force SCI/ Temasek to cough up a better deal la... just my $0.0

 

Right now, Temasek owns 50~% of SCI, which in turn owns 61% of SCM. This means that Temasek has an (indirect) stake of 30.5% in SCM. 

So if this thing doesn' t go through, Temasek is not  strictly  obligated  to help, but if they don' t, they' ll also lose. If they let SCM fail completely, their 30.5% of SCM will also be worthless right?

I think this means that refusing the whitewash resolution (and therefore this deal) forces Temasek to offer a better deal. Of course, it' s possible that they don' t and let SCM fail (but very unlikely), but it means that they are dragged down also too. At this point, with this really dilutive deal, how much worse could another offer from Temasek be?

Which is why I don' t get why the market is acting like this deal is confirmed already - if I were a SCM minority shareholder, I will surely vote against and sink this raw deal.

Btw, not vested - just my $0.02. Dyodd

WooWoooooooo      ( Date: 09-Jun-2020 18:19) Posted: you think temasek is obligated to help? the boat is sinking, if the lifeboat sink as well there' s no return.. lionel7      ( Date: 09-Jun-2020 17:51) Posted: As a Sembcorp Marine shareholder, I'll definitely vote "no" in the whitewash resolution, because it is extremely disadvantageous to Sembcorp Marine shareholders. Also, if the demerger fails to materialise, Temasek Holdings will need to come up with a much better deal for us if it wants to acquire a controlling stake in Sembcorp Marine in order to force a demerger.

 

At the moment it seems exercising the right is better option to average down of the SM shares. And since you' re holding SI share, you' re entitled to get free SM shares which can average down further for you (provided the proposal passed).

lawlee      ( Date: 09-Jun-2020 18:36) Posted: i bought at nearly $3 for semb marine .is buying the right shares the only way to ' minimise' loses? at the same time oso hold the SCI shares n keppel corp shares.

 

i bought at nearly $3 for semb marine .is buying the right shares the only way to ' minimise' loses?

at the same time oso hold the SCI shares n keppel corp shares.
 

 

you think temasek is obligated to help? the boat is sinking, if the lifeboat sink as well there' s no return..

lionel7      ( Date: 09-Jun-2020 17:51) Posted: As a Sembcorp Marine shareholder, I'll definitely vote "no" in the whitewash resolution, because it is extremely disadvantageous to Sembcorp Marine shareholders. Also, if the demerger fails to materialise, Temasek Holdings will need to come up with a much better deal for us if it wants to acquire a controlling stake in Sembcorp Marine in order to force a demerger.

 

Sm shareholder vote ?NO? at the end they will get nothing. I don think shareholder become so stupid on that.

wolverine23      ( Date: 09-Jun-2020 18:03) Posted: just thinking, if SM shareholders vote " NO" .  SCI can demand the loan and SM can then file for bankruptcy ya?  Maybe this will happen lionel7      ( Date: 09-Jun-2020 17:51) Posted: As a Sembcorp Marine shareholder, I'll definitely vote "no" in the whitewash resolution, because it is extremely disadvantageous to Sembcorp Marine shareholders. Also, if the demerger fails to materialise, Temasek Holdings will need to come up with a much better deal for us if it wants to acquire a controlling stake in Sembcorp Marine in order to force a demerger.

 

just thinking, if SM shareholders vote " NO" .  SCI can demand the loan and SM can then file for bankruptcy ya?  Maybe this will happen

lionel7      ( Date: 09-Jun-2020 17:51) Posted: As a Sembcorp Marine shareholder, I'll definitely vote "no" in the whitewash resolution, because it is extremely disadvantageous to Sembcorp Marine shareholders. Also, if the demerger fails to materialise, Temasek Holdings will need to come up with a much better deal for us if it wants to acquire a controlling stake in Sembcorp Marine in order to force a demerger.

 

As a Sembcorp Marine shareholder, I'll definitely vote "no" in the whitewash resolution, because it is extremely disadvantageous to Sembcorp Marine shareholders. Also, if the demerger fails to materialise, Temasek Holdings will need to come up with a much better deal for us if it wants to acquire a controlling stake in Sembcorp Marine in order to force a demerger.

 

poor thing. ah ma also don' t want you. give to ah  gong.
wish u all the best. maybe ah gong can tie up with other children and sell in a bundle.

 

how can they come up with better deal, if temasek or SCI buy out SMM or privatize it, it will probably have 30-40% premium, and those who bought at $3 still have to realize the losses...if reject privatization we will go full circle and they still need pay $1.5B loan

I am thinking to use the chance to apply for excess at 0.20 then lower down average price, at least with 30% stake from temasek SMM wont go under



 

bigideas149      ( Date: 09-Jun-2020 16:47) Posted: Yea I see your point - but if this deal does not go through, SCI will still own 61% of SCM, so can force SCI/ Temasek to offer a better deal no? SCI will lose big big if no recapitalisation allowed. I think this deal right now is very dilutive to SCM shareholders and force them to subsidise SCI shareholders - force SCI/ Temasek to cough up a better deal la... just my $0.02 arctician1982      ( Date: 09-Jun-2020 16:42) Posted: but SMM will still need pay the $1.5B debt eventually, if cannot pay outcome still the same, rights issue, privatize at below $1, or worst case declare insolvent. I have 2 lots but dont see a solution out of it unless oil price surge to $100 asap and SMM secure few B worth of order books. If its not capitalized SMM cant even win contracts now because which customer will want to appoint a vendor that may go insolvent..just look at hyflux

 

closed at 0.62 today, not that bad

 

responding to questions of others on what may happen if SMM shareholders vote no in whitewash deal, trying to share though this deal is dilutive but it allow SMM to wipe out the 1.5B on balance sheet, if reject deal then SMM still need to find ways to pay back the $1.5B which means they still need do a rights issue, privatization at low price or maybe go insolvent. 

So i dont see how voting a no can help SMM shareholders who bought at $3

ICXGOLD      ( Date: 09-Jun-2020 16:47) Posted: SCM dont need to payback 1.5 billion is being written off and instead 1.5 billion worth of shares being given to SCI shareholders. arctician1982      ( Date: 09-Jun-2020 16:42) Posted: but SMM will still need pay the $1.5B debt eventually, if cannot pay outcome still the same, rights issue, privatize at below $1, or worst case declare insolvent. I have 2 lots but dont see a solution out of it unless oil price surge to $100 asap and SMM secure few B worth of order books. If its not capitalized SMM cant even win contracts now because which customer will want to appoint a vendor that may go insolvent..just look at hyflux

 

terible close 61 tomorrow can get 40 below

 

If you are right, then SMM (SCM)' s management is clearly not acting in their shareholder' s best interests lorh... either way SMM' s minority shareholders should vote against this whitewash resolution. Why would they want to cough up so much money to (essentially) give to SCI shareholders/ Temasek?? At least force Temasek to offer something better

arctician1982      ( Date: 09-Jun-2020 16:58) Posted: based on what i read its SMM which offer this proposal to SCI or maybe TH is working behind the scenes because they cant service the debt bigideas149      ( Date: 09-Jun-2020 16:47) Posted: Yea I see your point - but if this deal does not go through, SCI will still own 61% of SCM, so can force SCI/ Temasek to offer a better deal no? SCI will lose big big if no recapitalisation allowed. I think this deal right now is very dilutive to SCM shareholders and force them to subsidise SCI shareholders - force SCI/ Temasek to cough up a better deal la... just my $0.0

 

based on what i read its SMM which offer this proposal to SCI or maybe TH is working behind the scenes because they cant service the debt

bigideas149      ( Date: 09-Jun-2020 16:47) Posted: Yea I see your point - but if this deal does not go through, SCI will still own 61% of SCM, so can force SCI/ Temasek to offer a better deal no? SCI will lose big big if no recapitalisation allowed. I think this deal right now is very dilutive to SCM shareholders and force them to subsidise SCI shareholders - force SCI/ Temasek to cough up a better deal la... just my $0.02 arctician1982      ( Date: 09-Jun-2020 16:42) Posted: but SMM will still need pay the $1.5B debt eventually, if cannot pay outcome still the same, rights issue, privatize at below $1, or worst case declare insolvent. I have 2 lots but dont see a solution out of it unless oil price surge to $100 asap and SMM secure few B worth of order books. If its not capitalized SMM cant even win contracts now because which customer will want to appoint a vendor that may go insolvent..just look at hyflux

 

AGM is in August / Sept. Still long. the 3 condition have to be met. is all or nth. 1 SCM entiled 5 rights if it goes thru. 

astroc      ( Date: 09-Jun-2020 15:52) Posted: Not 1 to 1 right? there must be some ratio let me rephrase... if I' m holding some SCm share now, when can I subscribe to the rights? do i need to wait for letteR? Manstock      ( Date: 09-Jun-2020 15:35) Posted: U get free SCM shares for every SCI shares you hold.

 

SCM dont need to payback 1.5 billion is being written off and instead 1.5 billion worth of shares being given to SCI shareholders.

arctician1982      ( Date: 09-Jun-2020 16:42) Posted: but SMM will still need pay the $1.5B debt eventually, if cannot pay outcome still the same, rights issue, privatize at below $1, or worst case declare insolvent. I have 2 lots but dont see a solution out of it unless oil price surge to $100 asap and SMM secure few B worth of order books. If its not capitalized SMM cant even win contracts now because which customer will want to appoint a vendor that may go insolvent..just look at hyflux

 

Yea I see your point - but if this deal does not go through, SCI will still own 61% of SCM, so can force SCI/ Temasek to offer a better deal no? SCI will lose big big if no recapitalisation allowed.

I think this deal right now is very dilutive to SCM shareholders and force them to subsidise SCI shareholders - force SCI/ Temasek to cough up a better deal la... just my $0.02

arctician1982      ( Date: 09-Jun-2020 16:42) Posted: but SMM will still need pay the $1.5B debt eventually, if cannot pay outcome still the same, rights issue, privatize at below $1, or worst case declare insolvent. I have 2 lots but dont see a solution out of it unless oil price surge to $100 asap and SMM secure few B worth of order books. If its not capitalized SMM cant even win contracts now because which customer will want to appoint a vendor that may go insolvent..just look at hyflux

 

hope not

positivity88      ( Date: 09-Jun-2020 15:58) Posted: If same bb as SIA u will see one big block trade sell down at 5pm

 

but SMM will still need pay the $1.5B debt eventually, if cannot pay outcome still the same, rights issue, privatize at below $1, or worst case declare insolvent. I have 2 lots but dont see a solution out of it unless oil price surge to $100 asap and SMM secure few B worth of order books. If its not capitalized SMM cant even win contracts now because which customer will want to appoint a vendor that may go insolvent..just look at hyflux