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KLSE: SCOMI       SCOMI GROUP BHD
Last Price Avg Target Price   Upside/Downside Price Call
0.12 1.07     +0.95 (791.67%)
* Average Target Price, Price Call and Upside/Downside are derived from Price Targets in the past 6 months.
** Price Targets are adjusted for Bonus Issue, Shares Split & Shares Consolidation (where applicable).
Date Open Price Target Price Upside/Downside Price Call Source News
No Price Target available for this stock.





  28 people like this.
 
JaJa7777 Prices down again...
Any news on the court???
No new work, no sales, marine vessel utilisation 0, Indian Monorail imposing fines etc etc etc
Ophir will inject cash when???????
Next qtr report due this coming month and can only guess that the losses have sustained or increased - regardless of Ophir and its potential no group as a whole can sustain this trend and massive losses
Settlement??? with Pasaranan will only increase the fall or marginally slow it down and thats if all went well and for Scomi - just cant see it myself, how can you fail so many times and be thrown yet another olive branch - enough is enough!!!!
A once fine and proud company that is and has been bled from the top !......
31/07/2017 18:47
nippy65 Jala7777, sounds like doom, gloom and follow by boom.
01/08/2017 07:24
JaJa7777 Did you happen to get a copy of the Scomi FY 2017 annual report that was published yesterday?
If you follow the trend from the last 2 years the QoQ losses is increasing at an exponential rate - last qtr was really bad which ever way you look at it, next Qtr report due this month will be horrendous.........

nippy65 - doom, gloom and follow by boom yes indeed - if it all goes wrong with Pasaranan it will be KA-BOOOOOOOM!!!!!!!
01/08/2017 13:23
nippy65 JaJa, yes I do follow the qtr report. I forsee huge impairment to come. From the Hollies - The road is long, with many turns, that leads us to who knows where ... and the rest of the lyrics encourages us to remain steadfast. Prove us wrong Scomi !
01/08/2017 16:27
longvalley Nearest 2 0.08c.....just waiting........hee.....!!!?
02/08/2017 09:38
longvalley Hopefully gd nws soon.............!!!!!!
14/08/2017 14:01
JaJa7777 Any news on the court case..??? yet another case coming up this month in malaysia and India pushing hard for fines for none completion and supply.
Quarterly report due out this month too and i dont see anything looking good on the horizon so far...
Share prices are going to take yet another hard hit before the month end
16/08/2017 01:44
nippy65 All three counters suspended. Good news or bad news ? Restructuring exercise ? If it is just selling a stake in Scomien to China, Scomies should not be suspended. Looks to be something major leaning to something not so pleasant
17/08/2017 15:03
tiennhieu suspended!!! what is going on?? No announcement also.
17/08/2017 15:21
nippy65 Announcement will be made for sure. Should know by this evening or tomorrow.
17/08/2017 15:32
nippy65 Suspension till Mon 5 p.m. Serious stuff ?
17/08/2017 16:22
synergyCT anyone heard anything about it?
17/08/2017 17:09
JaJa7777 Good to be hearing that there is some news coming through.... been too quiet for too long.
It is certainly going to be a busy month.
Moving a chunk of ES over to the Chinese will be a good move short term and it is by far the most potential of regions...but how much impact will that have on the group??? too little too late???
17/08/2017 17:29
Joon Khong Chang https://www.nst.com.my/business/2017/08/269014/group-wide-consolidation-scomi-group-and-its-two-listed-units
17/08/2017 17:46
Joon Khong Chang Not sure if it's true. Bought scomien this morning and got suspended in the afternoon. Hope it's a good news lah been dropping so long.
17/08/2017 17:47
chinaman Consolidation of all 3 units into one long over-due to save directors fee, etc. and achieve cost synergy....23 directors, crazy fees perks/ benefits. directors high fee, management fee eat up all the profit leaving banana for us only. wakaka
17/08/2017 20:04
Ahead1268 Better sell if hit limit up
17/08/2017 23:48
nippy65 Will be sure to have multiple proposals. Will not auger well should there be rights, warrant, loan stock or capital reduction thrown in. Don't sounds like selling any stake to China. No matter how they shift and re-structure, the bottom line is still winning jobs and more jobs without which is tough going.
18/08/2017 10:35
snwong13 .
http://www.thestar.com.my/business/business-news/2017/08/18/scomi-to-regroup/
18/08/2017 13:29
nippy65 I concur with you gushan. Issue more share to swap ? If so, it will be so so so diluted.
18/08/2017 14:04
Ahead1268 Maybe capital reduction n right issue. Reach hollang liao
18/08/2017 20:00
longvalley I dn't think so.........!
20/08/2017 00:13
hollandking http://www.thestar.com.my/business/business-news/2017/08/19/scomi-to-build-shareholder-value/
Share consolidation from 2 billion to 1 billion, a Reverse Split. Reverse split very taboo in stock market, so no use this word. No pay cash, pay merger by shares and warrants. Both scomi energy n engineering will be given more than 20% premium(more) over their share price.. So means at expense of scomi group(parent) shareholders. No sure if R/S if after or before merger. Could be issue share first for merger , then R/S, or R/S first, then issue share for merger. You guys into this, especially newbies, know what you doing. So you guys sure lose one if you get this one, only one perhaps gainer r scomi engin n energy BUT not necessary energy and engineering can get the cream bcoz u need buyers, if no buyers or not enough buyers, you can't dispose, so price go down too. BUT tell you guys, I no recommend this counter. I no share n no buy this counter, just to give you another side of the story because i can see many here newbies or old foxes to dupe ppl. I predict this one will go down even lower.
20/08/2017 11:27
longvalley We dn't know all................!!!!!?
20/08/2017 18:56
JaJa7777 I just see delays to the inevitable bad news......
Dilution is not the solution - devaluing something that is already worthless!!!??

There will be lots of propaganda and press releases from Scomi stating how well they are doing and various opportunities that are all weighted in their favour - monorail contracts for example, Thailand - nope, Middle east - nope, India - well that's all gone very wrong and India have imposed fines which will no doubt end up in court or just cancel and look elsewhere, Turkey - already won by the competition. not to mention anything that is happing on home soil....
And China keeps popping up????
Just wait for the next qtr reports to come out - if they ever do - or is this whole delay exercise going to delay and HIDE that too.........?

Totally agree with Hollandking - this will go down down down and unlikely to come back up if at all..
Chinaman - also correct, read the agenda notes for the AGM... should be happening this Friday 25th although after the last few weeks i think they will have more to talk about than just releasing more shares and paying directors fees.....
21/08/2017 13:34
hollandking agreed, there will be propaganda, newbies believe, but old timers know what this is about. I only believe this one will turn around if the ceo is sacked and changed of management, Maybe if acquire by IJM, they i may consider, if not, i won't
21/08/2017 17:41
JaJa7777 And as if by magic here you go......
Propaganda at its best

https://asia.nikkei.com/Markets/Nikkei-Markets/Malaysia-s-Scomi-Group-To-Delist-Unit-Scomi-Energy-Services-Scomi-Engineering-CEO

Not an honest word spoken - all Bull ----!!
The company plans to complete the restructuring exercise by March 2018 - unless they can drag it out even further!!!
Lets see what happens in court and what happens to the release of the quarterly report???? no doubt severely delayed...

Read carefuly and then go do some reaserch.... Assets? Indian settlments?? renewable energy business (JV Partner - no inputs means no outputs regardless of the size of PO..)

The only true word spoken was - "project delays in its transport solutions unit" ahmmm is that not what caused the court case in the first place and all down to complete inefficiency’s from with-in.

Lets see what tomorrow brings..
21/08/2017 20:36
freeman Updates from scomies AGM

1.bod of scomies have not receive any proposal from SGB regarding consolidation, BOD refuse to comment further regarding the matter. Thus trading as usual tomorrow
2. Marine business in indonesia in good shape with around 79% utilization rate
3. First flow of oil from ophir is expected to be in end sept.
The result would depend on rate of oil flow from the rig.
Scomies expects to receive around 130mil usd profit from ophir in 3 years.
4. If u notice from financial statement the gp and cash flow pf scomies are +, the only culprit is one off impairment of assets i.e 4 osv vessel that remain idle out of 5. Positive thing is that these vessel are not under financing or leasing but wholly owned
5. Chemical / oil gas business business activity -the industry now moving into/ focusing on land rigs over open sea rigs. With regard of griwing shale oil rigs from US. Scomies planning to enter the US market in the near term.
6. Scomies itself, irrelevant of Sgb or seb. With low gearing, positive operating cash flow, positive gross profit. There is no going concern issue. Scomies can go through this slow time of ong business.
22/08/2017 11:03
synergyCT FYI, trading in SCOMI's shares will resume with effect from 2.30 p.m., Tuesday, 22 August 2017.
22/08/2017 11:32
ryan7642 Fly or fall let's guess?
22/08/2017 12:43
chinaman i believe I can fly. wakaka
22/08/2017 12:46
JaJa7777 Freeman,

This Page and what we are all talking about is Scomi Group BHD - your post only goes to reiterate the state that it is in and the need for them to consolidate what small possibilities they have to stop the fall and demise of the company (group).
Regarding Ophir and to add.... if they don’t consolidate, Scomi group will only get a bite % of the potential that is Ophir and as is at present they can’t touch any of that until mid 2018.
Our estimates on the potential revenue for Scomi from Ophir is nearer the $42 Mill over 3 years, but as there has been no recover or return yet lets wait and see and more to the point revenue is not profit!

In the statement there is also a mention of selling off assets to generate cash..... i look at Scomi group and see next to no viable assets that are worth selling off and certainly not generating the values mentioned so i turn my attention to Scomies and vessels sitting idle???
Indonesia at 79% utilization rate, that's great - what is the GP margin on that and of that what goes back to the group....

I know irrelevent to the topic but - Scomies planning to enter the US market in the near term, with what i may ask?? and can i just point out that the US is not the first time Scomi has been there before and there are plenty of good reasons they are not there now.... do a little research - some of the cases and suits make for a good entertaining read.... not to mention the failed buisness units and the whole reason they pulled out.
If i remember rightly they were at one point associated with Derrick equipment company - probably the only reason they were the US in the first place but a Good Ole American company.... not sure you can break into that market with the set-up and possible assets to hand as is now..
22/08/2017 12:49
JaJa7777 https://asia.nikkei.com/Markets/Nikkei-Markets/Malaysia-s-Scomi-Group-To-Merge-With-Scomi-Energy-Scomi-Engineering-In-Share-Swap-Deal

http://www.thestar.com.my/business/business-news/2017/08/22/scomi-to-take-units-private-via-share-swap/

The merger will also result in a reduction in administrative and operational expenses and dispense with the duplication that exists with three listed entities, as all businesses will be housed under one listed company.

Is this what is ment by - low gearing???? We call it redundancies........
22/08/2017 13:21
JaJa7777 The bottom line...from last qtr reports
Scomi: PBT -87,810,000
ScomiES: PBT-72,242,000
ScomiEN: PBT -12,288,000
Combined: PBT -172,340,00

That's last qtr and this qtr due this month (Maybe delayed, i wonder why???) with share prices down, revenue down, operating costs have remained somewhat flatlining and court cases not helping anything, the question is..... what is the value of the new shares going to be...
I see a false jump coming in the share prices as we re-open them today and the news of additional shares (potentially) being handed out will encourage this.... the fact still remains that the units are failing, the prices will head straight back down and this whole process will take months and months and months...
22/08/2017 14:04
Boonming Based on rough calculation...

20 Scomi Group is = 2.20sen at cost which is also =
10 new shares +
7 FREE warrants (@11.3sen 78sen)

So our net cost will be 1.42 or diverse by 20 = 7.1sen per share today.

Which is 4.5sen cheaper to current closing price of 11.5sen!!!
22/08/2017 14:24
freeman jaja7777
scomies doing ok, the last qr huge loss was due to huge amt of asset impairment (one off),
specifically referred to idle osv vessel based on frs11(recoverable vs pojected cf). just because the mkt value of osv drop due to slow down in oil gas mkt they decide to write off its value, while the osv itself doing fine with min maintenance and without any leasing or financing commitment. when the market is ok would they write back the value? all was done to supress the share price .. buyback the share for the good of sgb
22/08/2017 14:38
JaJa7777 Fair comment but still we are looking at the group not just ES, intresting times will be when the qtr results come out and will be the real test.
The doors are open again and as predicted - EN and ES have just taken a hit and BHD has taken a big leap, the spike will fall as the realisation will sets in, to some degree the propaganda works as everyone suddenly thinks they have a heap of extra shares coming their way....

As Boonming has mentioned, the prices will have to be watched carefully and the supposed release/consolidate/merger or what ever they decide to call it goes ahead, at what point during this process the share price becomes fixed????? and we can work out the real value of the new group...

for the time being - BHD will keep going down, ES and EN will recover slightly (Just my thoughts but lets see..)
22/08/2017 15:24
JaJa7777 Wow what a day......Huge amount of volume changing hands for these units.
EN and ES ooouch...
Lets see what tomorrow brings.

Just a foot note and off subject again (Apoligies for that)
Director Tunku Alizan Raja Muhammad Alias has retired from the company.
Any news where we are with the court case???? was he not instrumental in the supplemental contracts for the KL Monorail expansion - seems like a timely move???
22/08/2017 17:52
ryan7642 Will it back to 0.18-0.2 range?I think soon..the price will definately up trend till that range to satisfy EN n ES shareholders at least
23/08/2017 08:35
nippy65 Shareholders of Scomies are very very unhappy.
23/08/2017 09:11
freeman Boonming Based on rough calculation...

20 Scomi Group is = 2.20sen at cost which is also =
10 new shares +
7 FREE warrants (@11.3sen 78sen)

So our net cost will be 1.42 or diverse by 20 = 7.1sen per share today.

Which is 4.5sen cheaper to current closing price of 11.5sen!!!
22/08/2017 14:24

http://www.thestar.com.my/business/business-news/2017/08/22/scomi-group-shareholders-to-benefit-from-merger/

_____


This is a flaw calculation

u should not include the free warrant with no. of share holding now and calculate average cost

u should only include the free warrant with the reduced new no of share and calculate average cost for u


based on price 0.115 once consolidated.. sgb shareholder lost 15% automatically

breakeven only if the price of new share at 0.14
23/08/2017 09:22
freeman If u buy at price higher than .115 u lose even more
23/08/2017 09:57
newbird01 yes,u are right..very risky to enter this stock...be careful
23/08/2017 10:42
JaJa7777 I think we will hit all time record lows - the deal is a loss loss at the moment which ever way you look at it.
The whole situation with warrants is all the more worrying too - absolutely no guarantees there and i think have only been thrown in as a sweetener to try and make up for the short fall in the share deal
Its a shame for ES as it was looking like the only potential out of the bunch and now have been dragged into it - they are the only potential cash cow for the group...

Updates on the court case and qtr reports will see this lot plumit even further and at that point it will be time to close the doors once and for all.
23/08/2017 12:19
longvalley What abt the ophir........??
23/08/2017 17:31
JaJa7777 Ophir - well behind schedule......First flow of oil from Ophir was expected to be the end of sept but that’s optimistic to say the least and it’s not immediate cash in the bank......

Scomies, was to be the beneficiary of that and the group would have been able to get its hands on its % of cash from it from mid-2018 onwards - if there were no more delays that is......
The predicted returns are wildly over optimistic too but that’s Scomi press for you...
I would not be surprised if this whole exercise revolves around the group trying to get is hands on that cash as soon as possible.....

ES now at an all-time low, Group is plummeting and EN following.
Qtr. reports will be the same as last or worse - Losses of 20+ Mill (USD) over a qtr can’t be sustained by a company of this size and when you look at the amount of loans etc..... doesn’t matter what Ophir brings in or could bring in????? Losses and loans are not investment opportunities so all you can do is sell off assets, they have just made that statement, vessels are first to go, only problem is that buyer needs to be found and any buyer will look at this situation and will be looking for a barging.....
Apart from the vessels there really isn’t anything else of value to sell off.
They talk about new technology and the Chinese.... Scomi just doesn’t have this and nothing that can’t be found elsewhere.
Selling something to the Chinese might be a quick short term fix for them both but it will not be substantial and not stop the rot from above.

As investors in the market we like to look a trends.... if we see something we have invested in going down we can either jump or cross our fingers and convince ourselves that it will go back up or wait for an all time low and reinvest.
Vary rarely do we seriously take a look at the cold hard facts.......
I hope that none of you are waiting for things to go back up and any of you that are waiting for an all time low..... its coming but Good Luck if you do go down that path.
23/08/2017 19:09
centrio88 Tomorrow sure up
23/08/2017 20:38
freeman Jaja7777
Dont believe everything u read in newspaper
I.e on saturday about share buyback.. on monday shareswap
But everything was planned to supressed share price so that will be cheap for them to buyback
Who feeds info to newspaper.?

Scomies will not sell their vessel
The vessels are not under financing or leasing
The gearing of scomies is low
When income from ophir come.. the % can easily cover the min loss easily.. the huge loss shown in the last qr is huge impairment of asset (vessels) this just to make thing look bad..
When scomies expecting income from ophir they wil buy back the share

When ophir well operating.. must be scomies also supplying chemical for drilling and waste, and opportunity for vessel will be utilized
23/08/2017 22:49
freeman What is the purpose of star biz journalist using wrong calculation to potray the benefit of consolidation?
On saturday they say buyback
On monday the say share swap
Back up with wrong calculation tt could mislead investor
24/08/2017 00:21
hollandking you shouldn't be touching this at all in the first place. I really don't know what attract some ppl to this counter.
24/08/2017 01:30


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