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Latest Forum Topics / Seatrium Ltd    Last:2.03    +0.01  Post Reply
Seatrium - Sea of Hopes & Atrium of Surprises (II)
mav1ryan
Veteran
07-Apr-2025 09:55     
 
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 Alert Admin 		This is one stock that I will not touch.

DYODD
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Chansenghoe1971
Elite
07-Apr-2025 09:51     
 
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 Alert Admin 		Start picking my XO durian now
Nice
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Tob231
Elite
07-Apr-2025 08:31     
 
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 Alert Admin 		agreed with you. management is doing much at this crucial moment and asking for pay hike.
AGM is coming asking for share purchase mandate when the remaining SBB is not being deployed ....  😤

Trader-101      ( Date: 06-Apr-2025 21:20) Posted:

  1. Management is not aligned with shareholder interests: CEO pay hike for achieving profitability is questionable. Profit this year is just 10% of the SGD2 billion loss, which is not exactly a turnaround. Pay rise for the CEO makes sense, but doubling it is questionable.That margin is unacceptable.


  2. Slim profit margins despite a solid order book: Having a strong order book looks good on paper, but it not meaningful with margins this thin. This is not very encouraging for future growth. 


  3. No recent share buybacks: Understandable since companies usually avoid buybacks above NAV, especially during periods of uncertainty and low growth. But as the share price drops closer to NAV, management should be expected to step in soon. 
     


Risks:  ​ Revenue from Singapore accounted for 5.42% of Seatrium total revenue, similar to FY2023. However, in 2H2024, revenue from Singapore dropped by 21.1% compared to 2H2023.  Revenue increased in every geographical location except Singapore, United Kingdom, Norway and Europe. Is the management pivoting away from these locations? 

This may come as a surprise to many that revenue from Singapore is only the 5th largest revenue contributor. However, the good thing is Brazil - the largest market only have 10% tariff imposed, which is the lowest in South America just like Singapore. So Seatrium can take advantage of potential catalysts there instead.

Brazil contributed 56.9% to total revenue, while revenue from USA operations increased by over 40%, and the Netherlands surged by 157%. Together, these three locations accounted for more than 77.77% of total revenue. These are the catalyst for Seatrium future growth. While USA revenue stands as a distant second at 13.7% of total revenue, ongoing tariffs and the risk of escalation will limit further growth in this market.

These are just the tip of the iceberg. Fundamental questions have to be asked at the AGM. Will the CEO take responsibility to halve his pay if FY2025 is in the red? This is a two-way street. With 70.6% of total revenue coming from Brazil and USA, the outlook is uncertain. Low profit margins certainly does not help anything. Will the turnaround sustain its momentum? 

Disclaimer: I have no positions in Seatrium. 

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Trader-101
Supreme
06-Apr-2025 21:54     
 
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Yells: "Don't trust what i say, Trust your decisions. "
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 Alert Admin 		If MAS steps in - maybe there is a chance. 
Afterall, SGX shareholders will not be happy if this leads to lower trading fees. 

kepoh88      ( Date: 06-Apr-2025 21:39) Posted:

Greedy SGX will not stop short selling..
despite the defination of caviet emptor , it is no brainer to allowed short selling.
You spend a lot of time doing research for some company and based on 
anayalysis you project the company have potential o grow but allowing short seller 
mean allowing unfair practice, just because want the volume and some tax money,
greedy indeed.

Trader-101      ( Date: 06-Apr-2025 21:29) Posted:

For now Taiwan just suspended Short-selling. 
If Hong Kong does the same, very likely SGX will do it. 

https://www.reuters.com/markets/asia/taiwan-announces-temporary-short-selling-curbs-after-us-tariffs-2025-04-06
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kepoh88
Veteran
06-Apr-2025 21:39     
 
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 Alert Admin 		Greedy SGX will not stop short selling..
despite the defination of caviet emptor , it is no brainer to allowed short selling.
You spend a lot of time doing research for some company and based on 
anayalysis you project the company have potential o grow but allowing short seller 
mean allowing unfair practice, just because want the volume and some tax money,
greedy indeed.

Trader-101      ( Date: 06-Apr-2025 21:29) Posted:

For now Taiwan just suspended Short-selling. 
If Hong Kong does the same, very likely SGX will do it. 

https://www.reuters.com/markets/asia/taiwan-announces-temporary-short-selling-curbs-after-us-tariffs-2025-04-06/

wehuattogether88      ( Date: 06-Apr-2025 21:22) Posted:

Will SGX temporary suspend short selling for a period in SGX trading? I doubt so.
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Trader-101
Supreme
06-Apr-2025 21:29     
 
Trader-101 About Contact  Quote this Post!   Mood: excited
Yells: "Don't trust what i say, Trust your decisions. "
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 Alert Admin 		For now Taiwan just suspended Short-selling. 
If Hong Kong does the same, very likely SGX will do it. 

https://www.reuters.com/markets/asia/taiwan-announces-temporary-short-selling-curbs-after-us-tariffs-2025-04-06/

wehuattogether88      ( Date: 06-Apr-2025 21:22) Posted:

Will SGX temporary suspend short selling for a period in SGX trading? I doubt so.
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wehuattogether88
Supreme
06-Apr-2025 21:22     
 
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 Alert Admin 		Will SGX temporary suspend short selling for a period in SGX trading? I doubt so.
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Trader-101
Supreme
06-Apr-2025 21:20     
 
Trader-101 About Contact  Quote this Post!   Mood: excited
Yells: "Don't trust what i say, Trust your decisions. "
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 Alert Admin
  1. Management is not aligned with shareholder interests: CEO pay hike for achieving profitability is questionable. Profit this year is just 10% of the SGD2 billion loss, which is not exactly a turnaround. Pay rise for the CEO makes sense, but doubling it is questionable.That margin is unacceptable.


  2. Slim profit margins despite a solid order book: Having a strong order book looks good on paper, but it not meaningful with margins this thin. This is not very encouraging for future growth. 


  3. No recent share buybacks: Understandable since companies usually avoid buybacks above NAV, especially during periods of uncertainty and low growth. But as the share price drops closer to NAV, management should be expected to step in soon. 
     


Risks:  ​ Revenue from Singapore accounted for 5.42% of Seatrium total revenue, similar to FY2023. However, in 2H2024, revenue from Singapore dropped by 21.1% compared to 2H2023.  Revenue increased in every geographical location except Singapore, United Kingdom, Norway and Europe. Is the management pivoting away from these locations? 

This may come as a surprise to many that revenue from Singapore is only the 5th largest revenue contributor. However, the good thing is Brazil - the largest market only have 10% tariff imposed, which is the lowest in South America just like Singapore. So Seatrium can take advantage of potential catalysts there instead.

Brazil contributed 56.9% to total revenue, while revenue from USA operations increased by over 40%, and the Netherlands surged by 157%. Together, these three locations accounted for more than 77.77% of total revenue. These are the catalyst for Seatrium future growth. While USA revenue stands as a distant second at 13.7% of total revenue, ongoing tariffs and the risk of escalation will limit further growth in this market.

These are just the tip of the iceberg. Fundamental questions have to be asked at the AGM. Will the CEO take responsibility to halve his pay if FY2025 is in the red? This is a two-way street. With 70.6% of total revenue coming from Brazil and USA, the outlook is uncertain. Low profit margins certainly does not help anything. Will the turnaround sustain its momentum? 

Disclaimer: I have no positions in Seatrium. 
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n3wbie
Elite
06-Apr-2025 18:42     
 
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 Alert Admin 		Could be a reaction to sharp decline in oil price this week?

Tob231      ( Date: 06-Apr-2025 16:30) Posted:

AGM is coming on 23 April 2025. n3wbie, please raise the concerns of the shareholders.
why no SBB ... SG is least affected why the price dropped so much 

PiR2 posted " 11:00 PM EDT, 04/03/2025 (MT Newswires) -- Seatrium (SGX:5E2) confirmed the settlement of a legal dispute with EIG Management Company for $1 million, according to a filing with the Singapore Exchange on Thursday.
The suit was initially brought against Keppel Offshore and Marine but following its merger with Sembcorp Marine, the company took over the litigation and resolved it through a settlement."

HaiZzzz .... no logic no logic no logic ... when senses come back ... we should see recovery.  for now just have to fasten seat belt and hold tight tight 

n3wbie      ( Date: 04-Apr-2025 20:20) Posted:

Totally agree - as a publicly listed company, its the management responsibility to protect and enhance shareholder value
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Tob231
Elite
06-Apr-2025 17:00     
 
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 Alert Admin 		https://sg.yahoo.com/news/singapore-stocks-suffered-bloodbath-last-015312581.html

Singapore Stocks Suffered a Bloodbath Last Friday: How Should Investors React?



Stock markets go through various types of crises regularly.

There was the global financial crisis back in 2008-2009 which was triggered by sub-prime mortgages.

More recently, the pandemic also triggered a bear market as uncertainty reigned in 2020 over whether the COVID-19 virus could decimate the population.

Throughout these crises, the market plunged and then recovered as strong companies continued to soldier on.

Trump&rsquo s tariffs are turning out to be a different type of crisis.

As investors, you should keep calm, assess the situation, and continue to monitor the companies within your portfolio.

With patience and tenacity, you can get through this crisis, just like how the previous ones were eventually resolved.
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Tob231
Elite
06-Apr-2025 16:30     
 
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 Alert Admin 		AGM is coming on 23 April 2025. n3wbie, please raise the concerns of the shareholders.
why no SBB ... SG is least affected why the price dropped so much 

PiR2 posted " 11:00 PM EDT, 04/03/2025 (MT Newswires) -- Seatrium (SGX:5E2) confirmed the settlement of a legal dispute with EIG Management Company for $1 million, according to a filing with the Singapore Exchange on Thursday.
The suit was initially brought against Keppel Offshore and Marine but following its merger with Sembcorp Marine, the company took over the litigation and resolved it through a settlement."

HaiZzzz .... no logic no logic no logic ... when senses come back ... we should see recovery.  for now just have to fasten seat belt and hold tight tight 

n3wbie      ( Date: 04-Apr-2025 20:20) Posted:

Totally agree - as a publicly listed company, its the management responsibility to protect and enhance shareholder value!

geographic      ( Date: 04-Apr-2025 10:48) Posted:

The CEO is paid a hefty income. He should know that he is accountable for the company' s share price and what is needed to uphold the interest of the investors. It will be really a shame if he has to be reminded of the share buyback only during the AGM. Instead he should be grilled during the AGM for the drastic drop of the share price since announcing the company' s results. 
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n3wbie
Elite
04-Apr-2025 21:05     
 
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 Alert Admin 		Not entirely the job of CEO which was why I said management. Why would anyone invest in a public company whose management is not incentivised to drive total shareholder returns otherwise? This is why senior management often has a portion of their remuneration in the form of share options for them to align interests with minorities.

Chansenghoe1971      ( Date: 04-Apr-2025 20:23) Posted:

Hmmm.
CEO job is not share price
Market forces determine share price
That is the usual reply from any listco mgt

n3wbie      ( Date: 04-Apr-2025 20:20) Posted:

Totally agree - as a publicly listed company, its the management responsibility to protect and enhance shareholder value
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Chansenghoe1971
Elite
04-Apr-2025 20:23     
 
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 Alert Admin 		Hmmm.
CEO job is not share price
Market forces determine share price
That is the usual reply from any listco mgt

n3wbie      ( Date: 04-Apr-2025 20:20) Posted:

Totally agree - as a publicly listed company, its the management responsibility to protect and enhance shareholder value!

geographic      ( Date: 04-Apr-2025 10:48) Posted:

The CEO is paid a hefty income. He should know that he is accountable for the company' s share price and what is needed to uphold the interest of the investors. It will be really a shame if he has to be reminded of the share buyback only during the AGM. Instead he should be grilled during the AGM for the drastic drop of the share price since announcing the company' s results. 
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n3wbie
Elite
04-Apr-2025 20:20     
 
n3wbie About Contact  Quote this Post! Style: Fundamental  
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 Alert Admin 		Totally agree - as a publicly listed company, its the management responsibility to protect and enhance shareholder value!

geographic      ( Date: 04-Apr-2025 10:48) Posted:

The CEO is paid a hefty income. He should know that he is accountable for the company' s share price and what is needed to uphold the interest of the investors. It will be really a shame if he has to be reminded of the share buyback only during the AGM. Instead he should be grilled during the AGM for the drastic drop of the share price since announcing the company' s results. 

n3wbie      ( Date: 03-Apr-2025 22:42) Posted:

Seems like STM hasnt done share buyback for some time now. Up to Jan 2025, they were still doing share buybacks at average price of $2.20 so its currently 10% lower. Probably about time and could get renewal to do more at upcoming AGM?
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ahbui8
Master
04-Apr-2025 19:31     
 
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 Alert Admin 		Long term no worry somemore now got dividends liao, I dare to say at least 3cts dividend per annual 😄 😂

Anyway the dumb trump can' t win whole world one, popcorn waiting retaliatory tariffs from all countries, too bad SG seedless 😂

eugesun      ( Date: 03-Apr-2025 19:51) Posted:

Us market down down down...

Tob231      ( Date: 03-Apr-2025 16:37) Posted:

Don' t think so .... still dark. Do you have a torchlight .... 
Out of the market for now ... too dicey to go in. 


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Joyoftheworld
Master
04-Apr-2025 15:51     
 
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 Alert Admin 		Waiting for below 180 to add
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7ocean
Master
04-Apr-2025 14:43     
 
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 Alert Admin 		Europe all Ang Ang kia xi rang

Neutral_Guy      ( Date: 04-Apr-2025 14:39) Posted:

Wow, i cannot tahan already. Now the price is right. Bought 1.94 for keeping. The trade war benefits Singapore as we got the lowest rates. So don't worry too much.
Remember to buy some Fraser's Hospitality Trust to keep too.
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Neutral_Guy
Senior
04-Apr-2025 14:39     
 
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 Alert Admin 		Wow, i cannot tahan already. Now the price is right. Bought 1.94 for keeping. The trade war benefits Singapore as we got the lowest rates. So don't worry too much.
Remember to buy some Fraser's Hospitality Trust to keep too.
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Tob231
Elite
04-Apr-2025 14:20     
 
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 Alert Admin 		if every countries - my country first ...  China will retailate .... UK, EU  ....  habis lah
tradewar likely to intensify .... how is it going to stop ??? 
Heard those who buy ... cp are big institutions ....  Aiyo .... Ado 

HB8289      ( Date: 04-Apr-2025 10:12) Posted:

Wow look like now going is catching a dropping knife
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PiRPiR
Master
04-Apr-2025 14:16     
 
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 Alert Admin 		11:00 PM EDT, 04/03/2025 (MT Newswires) -- Seatrium (SGX:5E2) confirmed the settlement of a legal dispute with EIG Management Company for $1 million, according to a filing with the Singapore Exchange on Thursday.

The suit was initially brought against Keppel Offshore and Marine but following its merger with Sembcorp Marine, the company took over the litigation and resolved it through a settlement.

Shares of the company were down over 4% in recent trading.
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