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Latest Forum Topics / Sembcorp Marine    Last:0.109    +0.001  Post Reply
A great day to say No

youngalan2222
Senior
17-Aug-2022 22:34     
 
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 Alert Admin 		Yup totally agreed....i already say they will " purposely" not take any new major projects

ahbui8      ( Date: 17-Aug-2022 16:34) Posted:

SM don' t want to do P82, then KOM can take. Eventually after merge P82 will also involve SM, so why SM let KOM get it? Not obviously enough....

If SM take P82, even the merge voted down, with strong order book, stronger bargains power to re-nego the merge term again.

Btw the anti merge here, do you all want the merge to be permanently down or hope the merge can be re-nego to a better term
 

pkli899      ( Date: 17-Aug-2022 16:16) Posted:

Why? Don' t get u, ahbui8.
Care to share?
I think likely KOM getting it again.
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better
Elite
17-Aug-2022 22:15     
 
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 Alert Admin 		Is Rex International the right business model? Please tell me, our most educated welder in sharejunction.

Chagataii      ( Date: 17-Aug-2022 21:43) Posted:

Same old stale loss making business model Part Deux
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Chagataii
Veteran
17-Aug-2022 21:43     
 
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 Alert Admin 		Same old stale loss making business model Part Deux
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better
Elite
17-Aug-2022 17:39     
 
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 Alert Admin
 

Petrobras: Start of production of P-71 may be anticipated for late 2022

1st August 2022
 


Petrobras&rsquo board is working on the possibility of bringing forward the start of production on the P-71 platform to this year. The information was revealed   by the company&rsquo s production development director, Joã o Henrique Rittershaussen, during a conference call with investors. As a reminder, the P-71 will be installed in the Itapu field and is part of the replicating platform family. Currently, the unit is in the final stage of construction at the Jurong shipyard, in Espí rito Santo.

&ldquo We have the prospect of having very good news regarding the P-71. We have the prospect of leaving the shipyard in the next two months (End September)


Next up, early delivery of the Petrobras P71 in the coming weeks. Another $100+million cash collection.

This SCM don' t have very much backbone....only got alot of cash...from the 2nd rights issue.  Cash balance pushing $2 billion before the end of the year.
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pkli899
Supreme
17-Aug-2022 16:55     
 
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 Alert Admin 		Ok, understand. Thanks.

ahbui8      ( Date: 17-Aug-2022 16:34) Posted:

SM don' t want to do P82, then KOM can take. Eventually after merge P82 will also involve SM, so why SM let KOM get it? Not obviously enough....

If SM take P82, even the merge voted down, with strong order book, stronger bargains power to re-nego the merge term again.

Btw the anti merge here, do you all want the merge to be permanently down or hope the merge can be re-nego to a better term
 

pkli899      ( Date: 17-Aug-2022 16:16) Posted:

Why? Don' t get u, ahbui8.
Care to share?
I think likely KOM getting it again.
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better
Elite
17-Aug-2022 16:45     
 
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 Alert Admin 		Not permanently down.  Look at it again 5 years later would be good.

ahbui8      ( Date: 17-Aug-2022 16:34) Posted:

SM don' t want to do P82, then KOM can take. Eventually after merge P82 will also involve SM, so why SM let KOM get it? Not obviously enough....

If SM take P82, even the merge voted down, with strong order book, stronger bargains power to re-nego the merge term again.

Btw the anti merge here, do you all want the merge to be permanently down or hope the merge can be re-nego to a better term
 

pkli899      ( Date: 17-Aug-2022 16:16) Posted:

Why? Don' t get u, ahbui8.
Care to share?
I think likely KOM getting it again.
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ahbui8
Veteran
17-Aug-2022 16:34     
 
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 Alert Admin 		SM don' t want to do P82, then KOM can take. Eventually after merge P82 will also involve SM, so why SM let KOM get it? Not obviously enough....

If SM take P82, even the merge voted down, with strong order book, stronger bargains power to re-nego the merge term again.

Btw the anti merge here, do you all want the merge to be permanently down or hope the merge can be re-nego to a better term
 

pkli899      ( Date: 17-Aug-2022 16:16) Posted:

Why? Don' t get u, ahbui8.
Care to share?
I think likely KOM getting it again.
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pkli899
Supreme
17-Aug-2022 16:16     
 
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 Alert Admin 		Why? Don' t get u, ahbui8.
Care to share?
I think likely KOM getting it again.
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ahbui8
Veteran
17-Aug-2022 16:12     
 
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 Alert Admin 		I think P82 will give us the definite answer whether the merge will be success or fail.

better      ( Date: 17-Aug-2022 14:03) Posted:

From H1 results presentation:

William:
 

Going forward, we have also mentioned that there were some projects and these are also in the public domain, that we are also involved in some of the FPSO tenders for Petrobras in Brazil, and also we are actively working on the front-end engineering design work for the Dorado FPSO project in Australia. So these are projects which we continue to work to convert into orders.

You might recall that there is also a project that was in advanced stages of conversion earlier this year, but they were actually deferred and there is a Cambo FPSO project. While it was deferred, the new owner of the project is actively working on bringing the project into fruition. So we are also working on this project as well.

So those are some of the broader points that I can share in terms of guidance on orders visibility. As Mr. Wong mentioned, we also actively involved in responding to several other tenders on all sides of energy transition, the oil and gas side, largely in production, as well as on the renewables and the greener solutions. 
  But overall, what we say is that, all the various subsegments within repairs and upgrades, they all look generally positive. Thank you.
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ahboy8
Member
17-Aug-2022 15:50     
 
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 Alert Admin 		Big volume somemore. Someone please enlighten us.

better      ( Date: 17-Aug-2022 15:42) Posted:

Good question. Why are some people buying? I don't have the answer. Is there something they know that I don't know. Please do enlighten me.

share456      ( Date: 17-Aug-2022 14:50) Posted:

why should investors buy SCM shares when it will be in losses for 2022 and 2023 ?
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better
Elite
17-Aug-2022 15:42     
 
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 Alert Admin 		Good question. Why are some people buying? I don't have the answer. Is there something they know that I don't know. Please do enlighten me.

share456      ( Date: 17-Aug-2022 14:50) Posted:

why should investors buy SCM shares when it will be in losses for 2022 and 2023 ?
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CH3333
Senior
17-Aug-2022 15:41     
 
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 Alert Admin 		👍 👍 👍

better      ( Date: 17-Aug-2022 14:03) Posted:

From H1 results presentation:

William:
 

Going forward, we have also mentioned that there were some projects and these are also in the public domain, that we are also involved in some of the FPSO tenders for Petrobras in Brazil, and also we are actively working on the front-end engineering design work for the Dorado FPSO project in Australia. So these are projects which we continue to work to convert into orders.

You might recall that there is also a project that was in advanced stages of conversion earlier this year, but they were actually deferred and there is a Cambo FPSO project. While it was deferred, the new owner of the project is actively working on bringing the project into fruition. So we are also working on this project as well.

So those are some of the broader points that I can share in terms of guidance on orders visibility. As Mr. Wong mentioned, we also actively involved in responding to several other tenders on all sides of energy transition, the oil and gas side, largely in production, as well as on the renewables and the greener solutions. 
  But overall, what we say is that, all the various subsegments within repairs and upgrades, they all look generally positive. Thank you.
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share456
Senior
17-Aug-2022 14:50     
 
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 Alert Admin 		why should investors buy SCM shares when it will be in losses for 2022 and 2023 ?
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better
Elite
17-Aug-2022 14:21     
 
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 Alert Admin 		Is Rex the way to go? Please enlighten me.

Chagataii      ( Date: 17-Aug-2022 14:11) Posted:

Going forward for SM is always going backwards 5 pips
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Chagataii
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17-Aug-2022 14:11     
 
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 Alert Admin 		Going forward for SM is always going backwards 5 pips
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better
Elite
17-Aug-2022 14:03     
 
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 Alert Admin 		From H1 results presentation:

William:
 

Going forward, we have also mentioned that there were some projects and these are also in the public domain, that we are also involved in some of the FPSO tenders for Petrobras in Brazil, and also we are actively working on the front-end engineering design work for the Dorado FPSO project in Australia. So these are projects which we continue to work to convert into orders.

You might recall that there is also a project that was in advanced stages of conversion earlier this year, but they were actually deferred and there is a Cambo FPSO project. While it was deferred, the new owner of the project is actively working on bringing the project into fruition. So we are also working on this project as well.

So those are some of the broader points that I can share in terms of guidance on orders visibility. As Mr. Wong mentioned, we also actively involved in responding to several other tenders on all sides of energy transition, the oil and gas side, largely in production, as well as on the renewables and the greener solutions. 
  But overall, what we say is that, all the various subsegments within repairs and upgrades, they all look generally positive. Thank you.
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better
Elite
17-Aug-2022 13:44     
 
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 Alert Admin 		Abstracted from  www.votenoformerger.com


It is worthwhile to remember that a provision of  $696 million  was made in 2021 for projected additional labour cost to complete existing projects. The skilled labour shortage was largely resolved early this year with the  delivery of key projects  and the  easing of Covid restrictions. SCM was also able to bring in skilled labour from their traditional labour sources since the end of 2021. There was no mention in the result presentation, intentionally or otherwise, on whether the provision is excessive or inadequate.
 
Unlike bad debt provisions in banks that we are more familiar with, provision for the yard business can be made into the black box a.k.a ' contract assets' by subtracting from it and need not be separately stated. For a bank, if provision for additional bad debts is made but the bad debts did not materialise subsequently, it will be  added back directly to profit  in subsequent periods via a reverse accounting entry.
 
For the yard business, it seems that no write back is required even if the underlying projects for the provision were subsequently delivered within budget. As long as the yard keeps taking on new projects, there is much leeway in reporting profit and loss as everything under the sun can be a subtraction or addition to the black box or ' contract assets' . It is often said that the construction business is a  cashflow business. A construction firm can have much discretion in reporting profit or loss over the years or decades as long as it does not run out of cash.
 
If we  under-recognised  the work done in the current period, we can simply catch up with the recognition of more work done in subsequent periods by  adding more to contract assets. The effect is simply lower ' Cost of sales' in the subsequent periods and consequently higher operating profit. So, voila! We have ordered higher profit in the snap of the fingers.
 
That ' snap of the fingers' moment seems to be reserved for  post-merger  so the management can attribute the sudden rise in profit to the synergy of the proposed combination. However, it is my belief that this eureka turnaround moment of reporting a good profit number will happen next year for SCM  regardless of whether there is merger or not. The only difference is that SCM minority shareholders will have to  share the fruits of this ' higher profit' glory moment  56% with Keppel corp shareholders if the merger goes through.
 
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eugesun
Senior
17-Aug-2022 11:47     
 
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 Alert Admin 		Oh yes...pump up the share price to 20cents and no need merger...

better      ( Date: 16-Aug-2022 23:41) Posted:

Next up, delivery of Gallaf Batch 2 platforms in the coming days. Another $100+million cash collection.


This SCM don' t have very much backbone....only got alot of cash...from the 2nd rights issue.  Cash balance pushing $2billion by the end of the year.
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better
Elite
16-Aug-2022 23:41     
 
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 Alert Admin 		Next up, delivery of Gallaf Batch 2 platforms in the coming days. Another $100+million cash collection.


This SCM don' t have very much backbone....only got alot of cash...from the 2nd rights issue.  Cash balance pushing $2billion by the end of the year.
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naoshingo
Master
16-Aug-2022 22:53     
 
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 Alert Admin 		That' s why CFO William Goh jeered at them....on SBB.....devil

Yatsa13      ( Date: 16-Aug-2022 22:42) Posted:

Funny hor 😅
KC with the SBB the price cannot rise above $7
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