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Latest Forum Topics / Mermaid Maritime    Last:0.115    +0.001  Post Reply
Mermaid Maritime
josephyeo
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03-Jan-2017 22:24     
 
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Crude oil future cross $55 as of now (3 jan ' 16, 10.25pm) Should be good for Mermaid Maritime.

josephyeo      ( Date: 03-Jan-2017 14:04) Posted:



Price movement:

52 weeks - low 9.0 cts high 16.4 cts

2 years - low 9 cts high 30.8 cts

5 years - low 9 cts high 53.7 cts

As a norm, Mermaid Maritime was traded above 20 cts in most years.

The low of 9.0 cts was on 2 sept 2016 at the height of the oil crisis.

For info only.

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josephyeo
Elite
03-Jan-2017 14:04     
 
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Price movement:

52 weeks - low 9.0 cts high 16.4 cts

2 years - low 9 cts high 30.8 cts

5 years - low 9 cts high 53.7 cts

As a norm, Mermaid Maritime was traded above 20 cts in most years.

The low of 9.0 cts was on 2 sept 2016 at the height of the oil crisis.

For info only.
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ysh2006
Supreme
03-Jan-2017 13:19     
 
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Secured this job with very thin margin....no meat one...cancell two rigs no money income how to be good ?Oil price only up a bit not enough to lure China man order rig leh....

josephyeo      ( Date: 03-Jan-2017 13:13) Posted:



Quote:

" CIMB just upgraded its buy recommendation from 17 cts to 24 cts. See below:

SINGAPORE (Jan 3): CIMB is reiterating its &ldquo add&rdquo recommendation on Mermaid Maritime with a higher

target price of 24 cents from 17 cents previously, after the company last week announced that its associate,

Asia Offshore Drilling (AOD), secured a three-year contract extension for its AOD III jackup rig.

 

In a Monday report, analysts Cezzane See and Lim Siew Khee say they are &ldquo very positive&rdquo on the news given

the dearth of jack-up rig contracts of late, as it also implies that all of Mermaid&rsquo s associated-owned rigs have

secured pipelines until 2019.

The analysts believe the latest contract extension mitigates Mermaid&rsquo s risk of its associate earnings, which

therefore reinforces their position on the stock as &ldquo a good stock to ride the sector recovery&rdquo .

.... end ....

josephyeo      ( Date: 01-Dec-2016 14:34) Posted:



" Its darkest before dawn"

Mermaid Maritime is another counter which is likely to survive the current oil crisis.

I am sharing some basic datas below:

1. Share price. 52 weeks high - 16.8 cts, low 9.0 cts. Current 14.5 cts.

2. Nta 33.6 cts. against current price of 14.5 cts

3. Debt S$128 mil against cash of S$83.8 mil. - debt is supported by 65% cash.

This is quite rare in the current O& M sector.

4. Profitable in the latest 3 quarters - 1st qt - S$1.7 mil 2nd qt - S$10.8 and 3rd qt - S$10.4.

Profit for 9 mths in current financial year - S$23.0 mil

i am vested for following reasons - trading below nta strong balance sheet, company profitable

despite extremely difficult environment and likely survival in current oil crisis.

Pls note above write up is for sharing n not a call to buy or sell.


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josephyeo
Elite
03-Jan-2017 13:16     
 
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correction - its " add" recommendation, not " buy" recommendation

josephyeo      ( Date: 03-Jan-2017 13:13) Posted:



Quote:

" CIMB just upgraded its buy recommendation from 17 cts to 24 cts. See below:

SINGAPORE (Jan 3): CIMB is reiterating its &ldquo add&rdquo recommendation on Mermaid Maritime with a higher

target price of 24 cents from 17 cents previously, after the company last week announced that its associate,

Asia Offshore Drilling (AOD), secured a three-year contract extension for its AOD III jackup rig.

 

In a Monday report, analysts Cezzane See and Lim Siew Khee say they are &ldquo very positive&rdquo on the news given

the dearth of jack-up rig contracts of late, as it also implies that all of Mermaid&rsquo s associated-owned rigs have

secured pipelines until 2019.

The analysts believe the latest contract extension mitigates Mermaid&rsquo s risk of its associate earnings, which

therefore reinforces their position on the stock as &ldquo a good stock to ride the sector recovery&rdquo .

.... end ....

josephyeo      ( Date: 01-Dec-2016 14:34) Posted:



" Its darkest before dawn"

Mermaid Maritime is another counter which is likely to survive the current oil crisis.

I am sharing some basic datas below:

1. Share price. 52 weeks high - 16.8 cts, low 9.0 cts. Current 14.5 cts.

2. Nta 33.6 cts. against current price of 14.5 cts

3. Debt S$128 mil against cash of S$83.8 mil. - debt is supported by 65% cash.

This is quite rare in the current O& M sector.

4. Profitable in the latest 3 quarters - 1st qt - S$1.7 mil 2nd qt - S$10.8 and 3rd qt - S$10.4.

Profit for 9 mths in current financial year - S$23.0 mil

i am vested for following reasons - trading below nta strong balance sheet, company profitable

despite extremely difficult environment and likely survival in current oil crisis.

Pls note above write up is for sharing n not a call to buy or sell.


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josephyeo
Elite
03-Jan-2017 13:13     
 
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Quote:

" CIMB just upgraded its buy recommendation from 17 cts to 24 cts. See below:

SINGAPORE (Jan 3): CIMB is reiterating its &ldquo add&rdquo recommendation on Mermaid Maritime with a higher

target price of 24 cents from 17 cents previously, after the company last week announced that its associate,

Asia Offshore Drilling (AOD), secured a three-year contract extension for its AOD III jackup rig.

 

In a Monday report, analysts Cezzane See and Lim Siew Khee say they are &ldquo very positive&rdquo on the news given

the dearth of jack-up rig contracts of late, as it also implies that all of Mermaid&rsquo s associated-owned rigs have

secured pipelines until 2019.

The analysts believe the latest contract extension mitigates Mermaid&rsquo s risk of its associate earnings, which

therefore reinforces their position on the stock as &ldquo a good stock to ride the sector recovery&rdquo .

.... end ....

josephyeo      ( Date: 01-Dec-2016 14:34) Posted:



" Its darkest before dawn"

Mermaid Maritime is another counter which is likely to survive the current oil crisis.

I am sharing some basic datas below:

1. Share price. 52 weeks high - 16.8 cts, low 9.0 cts. Current 14.5 cts.

2. Nta 33.6 cts. against current price of 14.5 cts

3. Debt S$128 mil against cash of S$83.8 mil. - debt is supported by 65% cash.

This is quite rare in the current O& M sector.

4. Profitable in the latest 3 quarters - 1st qt - S$1.7 mil 2nd qt - S$10.8 and 3rd qt - S$10.4.

Profit for 9 mths in current financial year - S$23.0 mil

i am vested for following reasons - trading below nta strong balance sheet, company profitable

despite extremely difficult environment and likely survival in current oil crisis.

Pls note above write up is for sharing n not a call to buy or sell.

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josephyeo
Elite
01-Jan-2017 01:18     
 
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Impairments been fully provided for in 2015 financial so shld not impact current tear account.

ysh2006      ( Date: 31-Dec-2016 20:30) Posted:



This news might pull down it price to 13.5c 50 MA support loh

guards80      ( Date: 31-Dec-2016 18:38) Posted:

Mermaid Maritime: General Announcement :: MERMAID' S TWO (2) NEWBUILD DRILLING RIGS UNDER CONSTRUCTION CANCELLED BY MUTUAL AGREEMENT



http://repository.shareinvestor.com/rpt_view.pl/id/671191.1/type/sgxnet/original_filename/1


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guards80
Supreme
31-Dec-2016 23:37     
 
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Mermaid Maritime: General Announcement :: MERMAID EXTENDS CHARTER-IN OF DP2 MPSV ' RESOLUTION' FOR ONE (1) YEAR



http://repository.shareinvestor.com/rpt_view.pl/id/671192.1/type/sgxnet/original_filename/1
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ysh2006
Supreme
31-Dec-2016 20:30     
 
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This news might pull down it price to 13.5c 50 MA support loh

guards80      ( Date: 31-Dec-2016 18:38) Posted:

Mermaid Maritime: General Announcement :: MERMAID' S TWO (2) NEWBUILD DRILLING RIGS UNDER CONSTRUCTION CANCELLED BY MUTUAL AGREEMENT



http://repository.shareinvestor.com/rpt_view.pl/id/671191.1/type/sgxnet/original_filename/1

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ysh2006
Supreme
31-Dec-2016 20:19     
 
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The rig business really so bad...?

guards80      ( Date: 31-Dec-2016 18:38) Posted:

Mermaid Maritime: General Announcement :: MERMAID' S TWO (2) NEWBUILD DRILLING RIGS UNDER CONSTRUCTION CANCELLED BY MUTUAL AGREEMENT



http://repository.shareinvestor.com/rpt_view.pl/id/671191.1/type/sgxnet/original_filename/1

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guards80
Supreme
31-Dec-2016 18:38     
 
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Mermaid Maritime: General Announcement :: MERMAID' S TWO (2) NEWBUILD DRILLING RIGS UNDER CONSTRUCTION CANCELLED BY MUTUAL AGREEMENT



http://repository.shareinvestor.com/rpt_view.pl/id/671191.1/type/sgxnet/original_filename/1
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ysh2006
Supreme
28-Dec-2016 15:49     
 
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This fish start swimming fast loh...no 17 c no stop!

Msport      ( Date: 28-Dec-2016 08:28) Posted:



minimal gearing

Msport      ( Date: 27-Dec-2016 08:46) Posted:



Mermaid Maritime (Add, TP S$0.17)
&bull The TP is based on 0.5x on FY17 P/BV. Our c.17% discount to 1.s.d levels below mean of 0.58x is largely due to the key downside risk of the non-renewal of AOD III&rsquo s contract 

&bull We are positive on company as it boasts a stable balance sheet with minimal gearing (0.02x in 9MFY16) and is churning positive operating cash flows even at low levels of vessel utilisation. 

&bull The stock is trading at trough valuations of 0.36x FY16F P/BV (5-year mean: 0.8x), despite having minimal default risks. 

&bull Best time to enter the stock: Post Dec 16, once MMT has greater clarity on the AOD III. 

&bull Our TP would be S$0.20/share if we re-rated the stock to -1 s.d. levels.


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Msport
Elite
28-Dec-2016 08:28     
 
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minimal gearing

Msport      ( Date: 27-Dec-2016 08:46) Posted:



Mermaid Maritime (Add, TP S$0.17)
&bull The TP is based on 0.5x on FY17 P/BV. Our c.17% discount to 1.s.d levels below mean of 0.58x is largely due to the key downside risk of the non-renewal of AOD III&rsquo s contract 

&bull We are positive on company as it boasts a stable balance sheet with minimal gearing (0.02x in 9MFY16) and is churning positive operating cash flows even at low levels of vessel utilisation. 

&bull The stock is trading at trough valuations of 0.36x FY16F P/BV (5-year mean: 0.8x), despite having minimal default risks. 

&bull Best time to enter the stock: Post Dec 16, once MMT has greater clarity on the AOD III. 

&bull Our TP would be S$0.20/share if we re-rated the stock to -1 s.d. levels.

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Msport
Elite
27-Dec-2016 08:46     
 
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Mermaid Maritime (Add, TP S$0.17)
&bull The TP is based on 0.5x on FY17 P/BV. Our c.17% discount to 1.s.d levels below mean of 0.58x is largely due to the key downside risk of the non-renewal of AOD III&rsquo s contract 

&bull We are positive on company as it boasts a stable balance sheet with minimal gearing (0.02x in 9MFY16) and is churning positive operating cash flows even at low levels of vessel utilisation. 

&bull The stock is trading at trough valuations of 0.36x FY16F P/BV (5-year mean: 0.8x), despite having minimal default risks. 

&bull Best time to enter the stock: Post Dec 16, once MMT has greater clarity on the AOD III. 

&bull Our TP would be S$0.20/share if we re-rated the stock to -1 s.d. levels.
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Mandy1986
Veteran
14-Dec-2016 10:32     
 
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Watch for this counter.. 401 n   821 both accumulating 
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josephyeo
Elite
09-Dec-2016 13:38     
 
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Strong balance sheet -

cash : 83.8 mil

debt : 128 mil

josephyeo      ( Date: 09-Dec-2016 00:08) Posted:



Company has already turned around

1st qt profit - S$1.7

2nd qt profit - S$10.8 mil

3rd qt profit - S$10.4 mil

9 months current financial year - profit S$23 mil

this is excellent result given the extremely difficult situation in the industry.

 

Am vested - above is just my views. Figures used may be different from

others due to differences in exchange rate used.

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josephyeo
Elite
09-Dec-2016 00:08     
 
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Company has already turned around

1st qt profit - S$1.7

2nd qt profit - S$10.8 mil

3rd qt profit - S$10.4 mil

9 months current financial year - profit S$23 mil

this is excellent result given the extremely difficult situation in the industry.

 

Am vested - above is just my views. Figures used may be different from

others due to differences in exchange rate used.
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SmallSmall
Supreme
08-Dec-2016 22:10     
 
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All impairments provided for in FY 2015. Forward looking,I believe this company has turned the corner and had seen its darkest hours just like ASL, Ezion   and Kris Energy among the smaller cap O& M stocks. 

Whether one likes it or not, the charts have slowly turned positive for these few counters :)

pnuklis      ( Date: 08-Dec-2016 09:38) Posted:



Lost all the down payment paid and how will that be good? Must have been burnt blue & black

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pnuklis
Master
08-Dec-2016 09:38     
 
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Lost all the down payment paid and how will that be good? Must have been burnt blue & black
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guards80
Supreme
07-Dec-2016 18:53     
 
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willylim      ( Date: 07-Dec-2016 18:51) Posted:



http://infopub.sgx.com/FileOpen/Mermaid_AusanaCancel_07122016.ashx?App=Announcement& FileID=432202

 

MERMAID&rsquo S NEWBUILD SUBSEA VESSEL UNDER CONSTRUCTION CANCELLED BY MUTUAL AGREEMENT All pre-paid installments and associated costs were part of asset-impairment in 2015 Financial Statements. No further payment obligations are due to Builder. Mermaid also recovered USD 1 million as compensation for termination and release

No more debt of more 100 million US dollars, almost debt free.

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willylim
Member
07-Dec-2016 18:51     
 
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http://infopub.sgx.com/FileOpen/Mermaid_AusanaCancel_07122016.ashx?App=Announcement& FileID=432202

 

MERMAID&rsquo S NEWBUILD SUBSEA VESSEL UNDER CONSTRUCTION CANCELLED BY MUTUAL AGREEMENT All pre-paid installments and associated costs were part of asset-impairment in 2015 Financial Statements. No further payment obligations are due to Builder. Mermaid also recovered USD 1 million as compensation for termination and release

No more debt of more 100 million US dollars, almost debt free.
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