First_Oil, really ?

In the end whatever made byOphir will all be depleted by Scomien. Lets look at the qtyly report next week. Be prepared by some earth shacking numbers ?

Report on the Mumbai monorail couch catching fire around 2 week ago has now put the blame on the contractor, Larsen & Toubro and Scomi. This is according to the report from Mumbai Metropolitan Region Development Authority with the state Urban Development dept which pointed to the issue of non issuance of Certificate Of Fitness to operate. I do not have the full details of the article and I cannot remember the sum involved. It seems the the contractors were have to replace the burnt coach. Togther with issues pending with Pasaranan, how are all these going to pan out in the ongoing concern of Scomi Engineering and vis-a-vis Scomi Group Bhd. All does not seems to augar well moving forward. Would there be implication on the consolidation exercise ? Any comment from this chat group ?

IkanBawang, I am downside bias with the Scomi group. Chance of the prices of going down another 2 sens is high. And to shoot up in share price, very remote. What cards do they have to lay down on the table ? Consolidation is nothing to shout about. In fact it can get worst if no contracts coming in. Any good comimg from the group if any would be 2nd half 2018. with no replenishment of orderbook or year to year incremental in the size of the orderbook, no consolidation will die fast, consolidation will die slower and later. where are those big projets which were mentioned in the press during the last released of the qtyly results and the consolidation campaign, like the China monorail and green energy which they spoke with confidence to get them by end of 2017 ? Still have a little more than a month left.

IkanBawang, specifically Scomi group. Even mkt as a whole has no excitment and a protracted dull one as well.

The current share price and the trend show all is not well with the result announcment next week.

First_Oil, "reflecting in coming qtr" means this month itself ?

First_Oil, good piece of news, nonetheless the share price remains moribund. Why ?

JaJa7777
Firstly, Mumbai monorail fire is really really bad news. Secondly, I think the qtyly results will be in the red of prehaps even crimson. Even if Ophir can deliver, the profit will be obliterated by the losses incurred from other business activities. It has been a long time since we hear any positive news coming from the Scomi group that can generate substance to the bottomline of the P&L account. I only see the current difficult period continues to protract for a much longer period unless awarded with big contracts which it seems to be out of the radar. At the moment, no clarity except uncertainty. I hope to be proven wrong.

First_Oil, is there official announcement to confirm Ophir oil production of 5000 bpd making it commercially operated ?

Any take on the qtrly result end of the month ? In the black/red ?

With court decision favouring Pasaranan, the" going concern" qualification from auditor is nearing reality. Will be a price pullback unless offset bysome other major announcement on project award.

Alibabaa, if only what is stated can be converted to job/contract awards. Otherwise is only a piece of news appearing on paper with feel good feeling and does not carry value.

Shareholders of Scomies are very very unhappy.

Chinaman, confirm IJM offering to buy them all up ?

I concur with you gushan. Issue more share to swap ? If so, it will be so so so diluted.

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.

gcke, your news is not latest news.

Suspension till Mon 5 p.m. Serious stuff ?

Announcement will be made for sure. Should know by this evening or tomorrow.

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

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 !

Jala7777, sounds like doom, gloom and follow by boom.

Agree with longvalley. Aug qtr result in all likelihood will shake the entire group further. Scomien is hanging by the thread. Monorail in Brazil still ongoing but no news on its progress. Prehaps no news is good news. In Mumbai, India, missing dateline after dateline, so says the news. Hardly hear of any new monorail or transportation job awarded thus far, except that continuous effort are made to tender for projects. On the O&G business, activities in marine vessel utilisation and waste management services and drilling rig are not helping as per previous qtr announcement. Likewise, not heard of any new jobs award for quite sometime for Scomies. The only bright spots currently is Ophir and PPA with TNB. Scomi Group holds around 70 % (if my memory serves me correct) of Scomien. Imagine if Scomien will to fold, I cannot imagine the consequence to Scomi Group going forward. All said, the outcome now hinges on the outstanding settlement with Pasaranan. Hopefully a win-win situation can come out of it.

In a very precarious situation indeed. Should have some feel of it come Monday, 31st July.

In a very precarious situation .

An article appeared in Free Malaysia Today titled - Can Scomi Engineering keep going ? KPMG cast doubt as to whether SEB can continue as a going concern. Is going to drag down the entire group.

Can Scomien win the case against Pasaranan in court ? Things are getting very bitter and gloomy.

Things does ot seems to look good.

On the backdrop of woes Scomien is faced with couple with Scomies idling of marine vessel, low drilling activities and of replenishment of orderbook which appears to have been in slumberland, the situation looks grim. Considering the crude price going south, which I believe will remain low for a while, the 2nd half of the year even with Ophir coming on stream will not provide much cushion to address the stressful state of affair.

When you thought that all is well again between Pasaranan and Scomien, the 3rd supplementary contract is now bogged down with dispute. And going by the results, we may need till mid 2019 to see positive outcome. Even so, we need to see more jobs awarded which is totally unheard of for a long while. Ophir will only see oil in the final qtr of this year if indeed it gets black gold. Pray hope by then the Crude oil price is attractive. As long as other business sectors of the Scomi group are not performing, no matter how well Ophir delivered its results, the rest of the activities will drag the head below the water. Frabication yard in Rawang already sold. What next for sale ? On the issue of fund raising, pray hard it will not happen. Any call for rights or capital reduction will be a bad move in the eyes of investors.

At best, improvement from last qtr. I have the leaning to project the numbers pending announcement will remain in the red .

Given the share price inability to move even a bit to the north and more so cautiously and seemly edging marginally south for the past week, it does not auger well to show a pleasant set of quarterly numbers. I hope to be wronged.

How many projects/jobs have been won and announced so far in the past 12 months ? Whatever job on hand, what is the depletion rate and in Ringgit terms how much is left to completion ? The group used to announce RM200 mil+ cash on hand, where does it stands now ? I wish someone can enlighten on this. Anyone ?

IJM is merely a passive investor in Scomi. Both are in total different industry. So, dont think IJM can help much in enhancing Scomi's revenue. It just does not connect.

Any comment on the pending quarterly result ? Anyone ?

r3490, go into graphenenanochem.com

Hopefully it can translate into more revenue and the bottomline, profit for Scomi.

A good piece of news from Graphene Nanochem on the huge order of PlateDrill for deployment in Myanmar with Scomi Oil.

All said and done, the coming quarterly result will speak for itself. I believe the numbers are going to remain rough. Scomi is not just Ophir alone. Other business segments can wipe out what Ophir can earn. Did we get to hear much of what is going on with the rest of their business ? A lot of negative news from Scomien were highlighted. No visibility going forward.

Mumbai monorail continues with delivery issues. If you want to read further, google "dnaindia Mumbai monorail".

Too early to pop the champagne. Still a lot of hard work ahead as far as the actual business operation is concerned. She is not out of the woods yet. T4 on Monday will tell us weather or not she (the price) will hold. Correction is likely the case for price to retreat around 0.185/0.19.

Sure, ending the legal spat do provide the much needed breathing space for Scomien and in turn will also benefit Scomi Group. On Feb 27, it was reported that any unfavourable outcome on the litigation with Prasarana could have adverse effect for the group. Although a major obstacle that hinders progress out of the way, is yet to be out of the woods. Much improvement still have to be acheived. At least is a pleasant piece of news indeed. At parties can now move forward with the 3rd supplemental contract.

For those who wish to continuously monitor Scomies performance, do look at the happenings of Graphene Nanochem plc (GN) listed in the LSE. A lot of the drilling fluid orders received by GN are corelated to the drilling activities of Scomies.

The confetti is on the floor. Is the party over for now ?

JackMa123, Financial report very good, improved a lot !!! I take it as tongue-in-cheek.

The price movement trend is not a good signal at all..

We hope to be proven wrong shortly.

Bobo, I am on the same page with you. At best some improvement from the last qtr, still will be in negative territory.

Bobo Au, do u yourself think QR will be negative ?