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Latest Forum Topics / Seatrium    Last:0.091 --  Post Reply
SembCorp Marine- The new Frontier.
better
Elite
15-Jan-2021 22:46     
 
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 Alert Admin 		Sembcorp industries is pretty much a walking dead.

Temasek is just hoping that SCI can keep on walking despite being dead so that they do not need to cough out money for a rights issue.

Now that SMM is heading higher, the punter that had been pusher SCI higher to convince shareholders to let go of their free SMM can stop playing the game.

SCI is likely to head back to $1 sooner rather than later.

There is no way SCI can come out of the $10 billion debt black hole with all its limbs intact.

So,  sell SCI to buy SMM  is the smart move

As usual, do your own DYODD.
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better
Elite
15-Jan-2021 22:42     
 
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 Alert Admin 		Slightly different.

SCI' s CFO resigned and balak kampong
SMM' s CFO was promoted to CRO and reports directly to CEO. Formerly he reports to GFD who reports to CEO. So kind of like a promotion.
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naoshingo
Elite
15-Jan-2021 22:28     
 
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 Alert Admin 		I am posting also in response to SMM CFO' s role change.....
2 CFO change within 2 days....

better      ( Date: 15-Jan-2021 22:14) Posted:

Hey Naoshingo, are you commenting in the wrong thread.

In any case, CFO resigning is usually bad news. Sembcorp industries is going to be a zombie company for years with about $10billion of debt overhang. Total debt/ equity about 250%

In contrast, Sembmarine' s Total debt/ equity is about 90%. Go figure.

Not too late to sell Sembcorp industries to buy Sembmarine. 

naoshingo      ( Date: 15-Jan-2021 22:02) Posted:

Funny lei....SCI has their CFO departed...Hmm.....
 

Sembcorp CFO returns to New Zealand no replacement named

https://www.businesstimes.com.sg/companies-markets/sembcorp-cfo-returns-to-new-zealand-no-replacement-named
 


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DLP123
Senior
15-Jan-2021 22:15     
 
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 Alert Admin 		Drop all old burdens of SMM and use the latest  abbreviations SCM for  SembCorp Marine.   

weishent      ( Date: 15-Jan-2021 20:16) Posted:

New year new start for SMM. old burdens all drop
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better
Elite
15-Jan-2021 22:14     
 
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 Alert Admin 		Hey Naoshingo, are you commenting in the wrong thread.

In any case, CFO resigning is usually bad news. Sembcorp industries is going to be a zombie company for years with about $10billion of debt overhang. Total debt/ equity about 250%

In contrast, Sembmarine' s Total debt/ equity is about 90%. Go figure.

Not too late to sell Sembcorp industries to buy Sembmarine. 

naoshingo      ( Date: 15-Jan-2021 22:02) Posted:

Funny lei....SCI has their CFO departed...Hmm.....
 

Sembcorp CFO returns to New Zealand no replacement named

https://www.businesstimes.com.sg/companies-markets/sembcorp-cfo-returns-to-new-zealand-no-replacement-named
 

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naoshingo
Elite
15-Jan-2021 22:02     
 
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 Alert Admin 		Funny lei....SCI has their CFO departed...Hmm.....
 

Sembcorp CFO returns to New Zealand no replacement named

https://www.businesstimes.com.sg/companies-markets/sembcorp-cfo-returns-to-new-zealand-no-replacement-named
 
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weishent
Elite
15-Jan-2021 20:16     
 
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 Alert Admin 		New year new start for SMM. old burdens all drop
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ckmpd1
Supreme
15-Jan-2021 19:33     
 
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 Alert Admin 		SMM is poised to surge this year.  I look forward to good news from SMM in their regular reports and updates and TH' s plans.   

Abe8888      ( Date: 15-Jan-2021 19:22) Posted:

And out of the hopeful $500M earnings, $100M is paid out as dividends. $100M / 12,000,000,000 = $0.00833 per share.
This gives a dividend yield of 4.9 % over today' s price of $0.17. And with capital appreciation of $0.33 too!

... must be wishful thinking or incorrect calculation... otherwise, merger or not... it does not matter...



 

Abe8888      ( Date: 15-Jan-2021 16:17) Posted:

Just curious...

If earnings is $500M going forward, and nbr of shares is 12,000M, then EPS is $500M / 12,000M which is $0.0417.

At price per share of $0.50, P/E = 0.50 / $0.417 = 12
What' s wrong in my calculation?
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Abe8888
Member
15-Jan-2021 19:22     
 
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 Alert Admin 		And out of the hopeful $500M earnings, $100M is paid out as dividends. $100M / 12,000,000,000 = $0.00833 per share.
This gives a dividend yield of 4.9 % over today' s price of $0.17. And with capital appreciation of $0.33 too!

... must be wishful thinking or incorrect calculation... otherwise, merger or not... it does not matter...



 

Abe8888      ( Date: 15-Jan-2021 16:17) Posted:

Just curious...

If earnings is $500M going forward, and nbr of shares is 12,000M, then EPS is $500M / 12,000M which is $0.0417.

At price per share of $0.50, P/E = 0.50 / $0.417 = 12
What' s wrong in my calculation?
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Bry_2004
Member
15-Jan-2021 16:20     
 
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 Alert Admin 		lets look at the reverse..
if it does not include SMM, will SMM tank?

SgTrader17      ( Date: 15-Jan-2021 13:41) Posted:

My own opinion: Keppel Corp news is due. If today not out, latest shld be out by next week. If involves SCM and benefits SCM, we will make some money from the share price recovery. All the best to everyone vested. DYODD. Make your own judgement and buying decision. Thanks.

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Abe8888
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15-Jan-2021 16:17     
 
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 Alert Admin 		Just curious...

If earnings is $500M going forward, and nbr of shares is 12,000M, then EPS is $500M / 12,000M which is $0.0417.

At price per share of $0.50, P/E = 0.50 / $0.417 = 12
What' s wrong in my calculation?
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SgTrader17
Elite
15-Jan-2021 13:41     
 
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 Alert Admin 		My own opinion: Keppel Corp news is due. If today not out, latest shld be out by next week. If involves SCM and benefits SCM, we will make some money from the share price recovery. All the best to everyone vested. DYODD. Make your own judgement and buying decision. Thanks.
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Godwinlow
Elite
15-Jan-2021 09:55     
 
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 Alert Admin 		💪 🏻 👏 🏻 👏 🏻 👏 🏻

better      ( Date: 15-Jan-2021 09:11) Posted:

Daily purchase program- Bought some at 17.0 cents

Trade safe and DYODD.  cool
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better
Elite
15-Jan-2021 09:11     
 
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 Alert Admin 		Daily purchase program- Bought some at 17.0 cents

Trade safe and DYODD.  cool
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better
Elite
15-Jan-2021 01:30     
 
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 Alert Admin

Transocean Ltd. (RIG)

NYSE - Nasdaq Real Time Price. Currency in USD
3.415+0.165 (+5.0769%)
As of 12:23PM EST. Market open.

Share price of Sembmarine' s single biggest customer doing well today. USD2.25 billion delivery happening soon.

Working capital freed up. Can bid more aggressively for other mega projects.
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newbie19
Supreme
15-Jan-2021 00:12     
 
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 Alert Admin 		In this forums, everyone here has his or her own predictions or assumptions. Nobody's is right or wrong...it's healthy to share informations, ideas and opinions... Better may be right or wrong for the predictions BUT it is up to individuals to believe in. This is human psychology especially if you are holding that particular stocks, including me... We feel the excitement when SMM price up..... We feel the excitement when SMM sky rocket 🚀 We feel the excitement when bros/sis shares the latest news We feel the excitement when we share the predictions too... In the END it is still up to you and nobody's is to be blamed for any miscalculations....

better      ( Date: 14-Jan-2021 22:02) Posted:

Your assumption that my assumption is not reliable might not be very reliable.

Let the people on this forum make up their own mind.

Playersoon      ( Date: 14-Jan-2021 20:55) Posted:

May I know....This target price & period is just your own assumption or otherwise? If it is just your own ideas....May not be reliable
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Godwinlow
Elite
15-Jan-2021 00:01     
 
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 Alert Admin 		Thanks for the detailed information 

better      ( Date: 14-Jan-2021 23:53) Posted:

Yes, progress payment. However, there would usually be some completion bonus of sort.

For a project size of USD2.25 billion, the additional cash inflow at/ near completion could easily amount to a few hundred millions. Also, less working capital tied up in ongoing projects.

Accelerated revenue recognition towards the end of the project would add to profit.

So if Sembmarine wants, they can easily reverse all the reported loss in 2020 by recognising more revenue from these key projects.

However, unlikely to do so as Temasek needs SMM to report a loss to push through the merger.

Godwinlow      ( Date: 14-Jan-2021 23:27) Posted:

Can correct me if I' m wrong. Ain' t this kind of project paid in batches? So towards the end of the project. Probably Sembmarine already received 60-70 % of the money
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better
Elite
14-Jan-2021 23:53     
 
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 Alert Admin 		Yes, progress payment. However, there would usually be some completion bonus of sort.

For a project size of USD2.25 billion, the additional cash inflow at/ near completion could easily amount to a few hundred millions. Also, less working capital tied up in ongoing projects.

Accelerated revenue recognition towards the end of the project would add to profit.

So if Sembmarine wants, they can easily reverse all the reported loss in 2020 by recognising more revenue from these key projects.

However, unlikely to do so as Temasek needs SMM to report a loss to push through the merger.

Godwinlow      ( Date: 14-Jan-2021 23:27) Posted:

Can correct me if I' m wrong. Ain' t this kind of project paid in batches? So towards the end of the project. Probably Sembmarine already received 60-70 % of the money?

better      ( Date: 14-Jan-2021 22:24) Posted:

USD2.25 billion delivery of 2 drillships to Transocean expected in Q3 this year.
Uncertainty on Transocean' s ability to take delivery has clouded Sembmarine' s prospect for the past 4 years.
Now, it is becoming clear Transocean can and will take delivery as the Transocean has found jobs for both drillships at the Gulf of Mexico.

Other mega deliveries in 2021 are:
The USD1.36 billion TechnipFMC FPSO for the Karish field (85% completed. To set sail from Singapore in Q2/3)

Completion of Shell Vito FPU in Q2 (Vito will be Shell&rsquo s 11th deep-water host in the Gulf of Mexico and is currently scheduled to begin producing oil in mid 2021)

Mega mega positive cashflow/ profitability events for Sembmarine. Cash on hand might be pushing $3 billion when the above deliveries are made.
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Godwinlow
Elite
14-Jan-2021 23:27     
 
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 Alert Admin 		Can correct me if I' m wrong. Ain' t this kind of project paid in batches? So towards the end of the project. Probably Sembmarine already received 60-70 % of the money?

better      ( Date: 14-Jan-2021 22:24) Posted:

USD2.25 billion delivery of 2 drillships to Transocean expected in Q3 this year.
Uncertainty on Transocean' s ability to take delivery has clouded Sembmarine' s prospect for the past 4 years.
Now, it is becoming clear Transocean can and will take delivery as the Transocean has found jobs for both drillships at the Gulf of Mexico.

Other mega deliveries in 2021 are:
The USD1.36 billion TechnipFMC FPSO for the Karish field (85% completed. To set sail from Singapore in Q2/3)

Completion of Shell Vito FPU in Q2 (Vito will be Shell&rsquo s 11th deep-water host in the Gulf of Mexico and is currently scheduled to begin producing oil in mid 2021)

Mega mega positive cashflow/ profitability events for Sembmarine. Cash on hand might be pushing $3 billion when the above deliveries are made.
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better
Elite
14-Jan-2021 22:58     
 
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 Alert Admin 		Sembmarine has no problem getting new projects as they are both technologically and cost competitive.

However, the future profitability of SMM lies in making correct financial decisions and taking the right risks.

Keppel O& M used to be the global leader a decade ago. But a series of defaults from custoimers like Alwico drilling and Borr drilling and legal woes has weakened their financial position substantially.

Also, clients like Transocean might be proposing to Sembmarine to take up equity stake in the 2 drillships to share in the USD1mil a day rental income.

When Sembmarine absorb Keppel O& M, they would have to inherit all their problems. So I guess CEO Wong needs someone to help him assess all the different financial risks.
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