Posted by maelxpdc > 2018-03-22 11:38 | Report Abuse

start suda..gogogogo

Posted by SatoshiChiam > 2018-04-23 08:44 | Report Abuse

buy more keep..

Posted by SatoshiChiam > 2018-04-23 08:45 | Report Abuse

wait cheap cheap

Posted by OMR@obm_4558 > 2018-04-23 12:36 | Report Abuse

The Board of Directors (“Board”) of Marine & General Berhad (formerly known as SILK Holdings Berhad) (“M&G” or "the Company") wishes to announce that the Company, had on 29 March 2018, incorporated a wholly-owned subsidiary in Labuan namely, M&G Marine Logistics (L) Pte. Ltd ("MGML").

The Certificate of Incorporation for MGML was received on 29 March 2018. MGML has a share capital of One Hundred United States Dollars (USD 100.00). MGML will be utilized as a Ship-Owning Company ("SOC") to own future vessels as and when the Group expands its chemical tanker fleet.

The incorporation of MGML will not have any effect to the issued and paid-up capital of the Company as well as its substantial shareholders’ shareholdings and is not expected to have a material effect on the earning, net assets and gearing of the Company and the Group for the financial year ending 31 December 2018.

DIRECTORS' AND MAJOR SHAREHOLDERS INTERESTS

None of the directors or major shareholders or person connected with the directors or major shareholders has any interest, direct or indirect in the incorporation of MGML.

This announcement is dated 30 March 2018.

Posted by nmaa3003 > 2018-04-26 15:20 | Report Abuse

waiting at 5.5sen

Posted by Albukhary > 2018-05-15 08:02 | Report Abuse

Many investor overlooked this counter, Tan Sri Muhyiddin's Son, Datuk Fakhri Yassin is the Top 30 Shareholder in this company, M&G.

And don't forget, this is a cash rich Oil & Gas company, they have few hundred million cash in hand after dispose the SILK highway.

Posted by Albukhary > 2018-05-15 08:37 | Report Abuse

Today target price - RM0.19
Tan Sri Muhyiddin's Son
Coming coming

Posted by Albukhary > 2018-05-15 09:17 | Report Abuse

Good good...

Posted by ali > 2018-05-18 10:42 | Report Abuse

Bila lagi mahu gerak ini

Posted by ivyong1966 > 2018-05-24 17:35 | Report Abuse

Look like dropping more ... :(

Posted by mawiLegend > 2018-06-05 00:23 | Report Abuse

Too slow this company..lots intraday que.saham x leh maju la malaysian invwstor trade mcm forex..aduii

Posted by ali > 2018-06-07 18:41 | Report Abuse

Go go go

Posted by ivyong1966 > 2018-06-18 13:50 | Report Abuse

don't looking like it's gg anywhere yet ...

Posted by ivyong1966 > 2018-06-25 10:02 | Report Abuse

Yeah, looks like too quite for any comfort .. :(

Posted by Oliveoil > 2018-07-25 20:23 | Report Abuse

25% tomorrow

Posted by gforce2 > 2018-07-26 01:19 | Report Abuse

http://www.theedgemarkets.com/article/marine-general-bags-rm17m-contract-supply-vessel

KUALA LUMPUR (July 25): Marine & General Bhd (M&G) said its unit has been awarded a contract worth RM17 million, to provide a straight supply vessel (SSV) in support of a client's operations.

In an exchange filing today, M&G said the contract, which was awarded by Hess Exploration and Production Malaysia B.V. to its unit Jasa Merin (Malaysia) Sdn Bhd (JMM), will commence on Aug 1.

The contract is for a primary duration of three years, with two annual extension options for Hess.

M&G said the primary term of the contract — valued at RM17 million — is expected to contribute positively to the group's earnings for the financial year ending Dec 31, 2018 (FY18).

Posted by Eric6790 > 2018-07-26 23:41 | Report Abuse

hope it can fly someday

Posted by Yael Jasper > 2018-07-27 11:08 | Report Abuse

beli dan untung kuat kuat

Posted by Eric6790 > 2018-07-31 09:42 | Report Abuse

gone case, even had projects but unlucky still can't up

Posted by ivyong1966 > 2018-08-02 13:19 | Report Abuse

This is the worst counter I ever bought in, when everything was gg up this one goes down!!

Posted by TKP9966 > 2018-08-12 22:15 | Report Abuse

Marine

Posted by Sam1026 > 2018-08-16 01:31 | Report Abuse

May i know this company really got issue dividend?klscrenner show dy128.43 % is it true?

Posted by gforce2 > 2018-08-17 22:03 | Report Abuse

Sam1026 > That was a special dividend in 2017, after selling Silk Highway to PNB. Unlikely to have any dividends soon, as its core oil & gas business is still bleeding money.

On the plus side, oil prices have trended upwards. It is starting to get some new contracts (3 yr, with option to extend): RM17m with Hess E&P, RM48m with Murphy Oil Sarawak.

If you take these two contracts and divide by 36 months, it works out to about RM1.8m/mth additional revenue, or RM5.4m/quarter. I'm not sure what their profit margins are on these contracts, but even if you factor in these 2 contracts at RM2m profit/quarter, they are still operating at a loss of about RM16.6m/quarter. (Coincidentally, they are spending about RM16.6m/quarter on interest repayments alone!)

As of 31-Mar-2018, M&G is sitting on about RM229m in cash/deposits/reserves/FDs. That might seem like a lot, but its total liabilities is almost RM1b! It's no wonder that they are currently working with CDRC/BNM to help restructure its debt load.

I can think of a few ideas how this could pan out:
1. Convert the debt into equity. Bring down the debt to about RM200-300m, if possible.
2. A rights issue or private placement to raise fresh capital, to pare down debt. Similar effect to the 1st option, but might not be viewed favorably by shareholders.
3. M&A to create synergies & shareholder value.

Posted by Albukhary > 2018-08-23 19:04 | Report Abuse

Q to Q improve 40%, seem like O&G on on recovering path.

Posted by Eric6790 > 2018-08-23 21:26 | Report Abuse

important is share price must bulk up

Posted by gforce2 > 2018-08-25 00:55 | Report Abuse

It looks like the initial signs of recovery in the 2Q 2018 Financial Results. Some highlights:

1. Negotiated lower interest rates on their existing debts, thanks to CDRC. Recall 1Q2018, interest expenses were RM 16.6m, compared to RM 10.95m in 2Q2018! That's a 34% reduction in interest rates (effectively from ~6.7% to ~4.5% p.a. by my estimates). It also looks like they have started to pare down their debts, albeit slowly.

2. Downstream Division is finally turning a profit!

3. Upstream Division Fleet Utilization at 55%, not including the latest 2 contracts signed in July & August. Based on their 2017 Annual Report, they have 21 vessels under Upstream Division. 55% means that 11.55 vessels are being utilised. Add in the 2 contracts (2 AHTS vessels and 1 SSV pro-rata), 13.2 vessels... assuming only the new contracts added, next quarter's utilization should be about 63%, and increasing to 69% in 4Q. The new contracts will add about RM 3m revenue for 3Q, and RM 5.4m in 4Q onwards.

===
Analysis & Predictions:
Their downstream division has 1 more ship to be deployed, which should add another RM 1m - 1.5m to revenue in the 4Q. There is also 1 more ship being constructed, to be ready in 2019.

I expect the 3Q results to show a RM 9.5m - 10m loss, dropping to RM 7m loss in 4Q, assuming 69% utilization (Upstream). Daily Charter Rates (DCR) should improve, as oil prices are now hovering at USD70-75/barrel, compared to USD45-65/barrel in 2017.

I predict M&G will be able to get their Upstream Fleet Utilization to about 75 - 80% in 2019, which should bring their quarterly losses down to about RM 3.5m - 4m.

Downstream activities will help bring M&G back into profitability. I estimate M&G will need to expand to 8 - 9 tankers, before we start to see an overall net profit. Thankfully, they still have about RM 151m in FDs/money market, which should be enough to buy another 2 - 3 tankers.

I still feel that they need to bring their debt ratios down to below RM 500m. At the re-negotiated rates, they are still burning about RM 44m a year on interest alone. Bringing the debt level to below RM500m should save about RM 22m/year.
Unfortunately, there's no easy way to do this. Any debt-to-equity or rights issue at current prices will find it hard to raise RM 100m, let alone RM 500m.

Posted by smetrader > 2019-01-22 22:12 | Report Abuse

Time to buy

Posted by Nadayu > 2019-01-27 16:37 | Report Abuse

1st target 0.10

Posted by Nadayu > 2019-01-30 09:44 | Report Abuse

strong buy

Posted by maelxpdc > 2019-03-07 19:16 | Report Abuse

stanby semua..bakal mengoreng balik

Posted by ali > 2019-03-18 10:27 | Report Abuse

Go go go

Posted by Eric6790 > 2019-05-28 16:29 | Report Abuse

finish report so bad

Posted by gforce2 > 2019-06-24 21:15 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6200025

https://www.theedgemarkets.com/article/marine-general-unit-get-three-contracts-petronas-worth-rm209m

KUALA LUMPUR (June 24): Marine & General Bhd’s subsidiary Jasa Merin (Malaysia) Sdn Bhd has bagged three work awards from Petronas Carigali Sdn Bhd worth a total of RM20.9 million, for the provision of anchor handling tug & supply vessel.

In a Bursa Malaysia filing today, the group said the contracts, worth approximately RM6.98 million each, will last for six months with an option to extend by another six months.

It said the contracts are expected to contribute positively to the earnings of the group for the financial period ending April 30, 2020 (FY20).

===

1. This should add RM10.47m revenue per quarter.
2. Fleet utilisation has generally been on an upward trend based on Q results ... upstream 55%, 60%, 73.4%, 65% (latest quarter was lower due to repair/maintenance and monsoon season); average of 63%. 3 AHTS vessels will boost utilisation up to ~79%, assuming all other contracts still on.
3. Will we see a Q profit soon? Possibly in the last quarter 2019, assuming their new chemical tanker comes online.

Posted by gforce2 > 2019-09-14 20:14 | Report Abuse

https://www.theedgemarkets.com/article/uem-sunrise-ni-hsin-masteel-marine-general-petchem-and-taliworks

Offshore support services provider Marine & General Bhd's unit has bagged a contract from Hess Exploration and Production Malaysia B.V. worth approximately RM12.9 million with an additional RM6.5 million for an optional extended term.

Marine & General said its subsidiary Jasa Merin (Malaysia) Sdn Bhd has been awarded the contract by Hess for the provision of one 120MT anchor handling tug supply vessel to support Hess' Malaysian drilling operations on July 11, 2019.

Marine & General said the contract, which commenced on July 11, is for a primary duration of 12 months, with an option for Hess to extend for an additional six months.

Posted by Albukhary > 2019-09-20 20:38 | Report Abuse

Not bad result... Seem like the company is on the right track d.

Posted by Eric6790 > 2019-09-20 21:02 | Report Abuse

hope as u said,

Posted by gforce2 > 2019-10-02 20:23 | Report Abuse

https://www.theedgemarkets.com/article/marine-general-gets-vessel-supply-contract-petronas

KUALA LUMPUR (Oct 2): Marine & General Bhd (M&G) has bagged a contract by Petronas Carigali Sdn Bhd for the provision of a unit of anchor handling tug and supply vessel for the petroleum arrangement contractors (PACs) production operations.

M&G said the contract, received by Jasa Merin (Malaysia) Sdn Bhd, commenced on Sept 16 and has a duration of 709 days, with an option to extend the contract for a one-plus-one-year term.

“The contract and option, estimated to have a value of approximately RM17 million for the primary term, is expected to contribute positively to the earnings of M&G for the financial period ending April 30, 2020 and beyond,” it said in a filing with Bursa Malaysia.

===

1. That's another RM8.5m/yr in revenue (~ RM2.1m for the next quarter).
2. This should boost Upstream fleet utilization above 80%, assuming no other expiring contracts.
3. However, Upstream is still loss-making for M&G.

Posted by gforce2 > 2019-11-28 03:09 | Report Abuse

https://www.theedgemarkets.com/article/marine-general-proposes-debttoequity-scheme-restructure-subsidiaries-whopping-borrowings

KUALA LUMPUR (Nov 27): Debt-laden offshore service vessel operator Marine & General Bhd (M&G) has proposed a debt-to-equity scheme that entails the issue of 1.5 billion new shares to restructure RM200 million of the total of RM923.2 million debts owed by its subsidiaries.

JMM has entered into three separate agreements with Affin Bank Bhd, Maybank Islamic Bank Bhd and Bank Pembangunan Malaysia Bhd (BPMB). Meanwhile, JMG 3 and JMG 4 have signed facility agreements with BPMB.

More info:
http://www.bursamalaysia.com/market/listed-companies/company-announcements/6352837

===

1. Reduced debt by RM200m. RM50m upfront paid out to banks, and the balance RM150m as preference shares redeemable over 10 years (but only once the outstanding dues have been settled).
2. This was one of my debt reduction ideas from 2018. At that point in time, it seemed unlikely. Market conditions have changed in 2019, so banks were more willing to negotiate on debt restructuring. As an added bonus, they are even willing to accept a conversion price of RM0.10 per M&G share!
3. There's a sizeable annual interest savings from this exercise, as well as a restructuring gain of RM24.1m. This puts M&G on the right path to return to profitability.

Caveat: 10 years later, the total number of shares goes up by 1.5b shares! (Factor of 3)

Posted by Albukhary > 2019-12-05 22:41 | Report Abuse

Haha, found a new darling stock.

Posted by Albukhary > 2019-12-13 09:58 | Report Abuse

Fleet utilisation rate increase, chartered rate increase, expected M&G to improve more quarter.

Maybe it cannot turn into profit, but at least the losses will be reduced substantially.

The debt restructuring plan in 2020 will reduce the interest expenses, and the high utilisation rate may allow company to written back the impairment loss that book into account earlier.

Posted by zhm540 > 2019-12-13 11:01 | Report Abuse

what a sad story for a company which at one time had RM 365 mill cash after sale of SILK highway... but going into wrong business afterward.

Posted by Eric6790 > 2019-12-13 16:35 | Report Abuse

u must know the management how to handle the company la

Posted by Albukhary > 2019-12-19 00:37 | Report Abuse

Monitor it closely...
Too less volume, but can see got people collecting at 6.5-8sen level

Posted by Albukhary > 2020-01-02 10:18 | Report Abuse

EGM passed all the resolution.
Once the restructuring plan done, hopefully M&G can sail up again.
This would be the next PERDANA.

Posted by Albukhary > 2020-01-02 10:20 | Report Abuse

Dont get scare by its losses, the losses is mainly due to:-

1) Depreciation
2) Finance interest
3) Schedule docking
4) New ship yet to deploy

After restructuring, the interest will be lower.
After new ship deployed, revenue will be increase to cover its depreciation.

The cash flow is positive, very good sign for a turnaround company.

Posted by Eric6790 > 2020-01-02 17:04 | Report Abuse

hope what u say can happen on this year

Posted by maelxpdc > 2020-01-06 10:06 | Report Abuse

EBITDA RM31.2 MILLION, NCFO RM39.2 MILLION, WAITING FOR PPL TO GORENG ONLY

Posted by Albukhary > 2020-01-06 11:00 | Report Abuse

If ALAM can move, impossible M&G cannot move.
The only problem of M&G is 99% investor in the market don't even know it is a O&G company.
In fact, M&G subsidiary (Jase Merin) is one of the largest fleet player in Malaysia.
Its fleet size can fight with Alam, Perdana, Icon, Tas Offshore....etc.

The only problem is it high interest.. but after this round of debt restructuring, M&G now can move faster d

Posted by perangbrown > 2020-01-15 14:51 | Report Abuse

Marine & General Bhd shareholders have today approved its debt-to-equity scheme to restructure RM200 million of its RM923.2 million debts owed by its subsidiaries.

Marine & General's 70 per cent-owned unit Jasa Merin (Malaysia) Sdn Bhd (JMM), and two other units namely JM Global 3 (Labuan) PLC (JMG 3) and JM Global 4 (Labuan) PLC (JMG 4), have agreed with Affin Bank Bhd, Maybank Islamic Bank Bhd and Bank Pembangunan Malaysia Bhd to restructure the outstanding facilities by JMM and its subsidiaries.

Posted by xox9989 > 2020-01-15 22:42 | Report Abuse

Datasonic rises 3.38% to three-year high
TheEdge Thu, Jan 02, 2020 02:26pm - 1 week ago


KUALA LUMPUR (Jan 2): Shares of ICT solutions provider Datasonic Group Bhd rose as much as 3.38% this morning, reaching its highest level since October 2016.

At the noon break, Datasonic was up 1 sen or 0.68% at RM1.49, valuing it at RM2.01 billion.

In the last six months, the stock has more than doubled from 66 sen on July 2, 2019.

On Tuesday, its managing director Datuk Abu Hanifah Noordin ceased to be a substantial shareholder after selling off his remaining 4.96% stake in the group.

Datasonic's bourse filings showed Abu Hanifah had sold his remaining 66.92 million shares in the group via a direct business transaction to Datuk Razali Mohd Yusof, a director with Marine & General Bhd.

Since early December, Abu Hanifah has been observed to be disposing of his shares in Datasonic, including through his vehicle Gerbang Subur Sdn Bhd. Prior to this, Abu Hanifah was the single largest shareholder of the company.