Posted by rocket > 2013-03-08 10:54 | Report Abuse

sien!!!

Posted by Frank Soweto > 2013-03-08 11:08 | Report Abuse

pooh!pooh! playing among themselves again pooh!

Posted by tonylim > 2013-03-08 11:28 | Report Abuse

32 - 33 sen. ..taking profits

Posted by alenac > 2013-03-08 12:13 | Report Abuse

Be patient, Keuro did not move overnight. Take some years to move above RM1. Next step is for the management to build confidence among the funds, as the bankers' confidence with IJM there as the first step.

Posted by chleong > 2013-03-08 12:43 | Report Abuse

Be Cautious, scomi is at the disposal cycle.
It is not buying up cycle.
Their intention is to do disposal.
That's the reason why even with good news nothing is happening.
That's all i have to say here.

Posted by nubhan . > 2013-03-08 12:55 | Report Abuse

Refer TA, if closed above SMA 50 days, its a buy

Posted by hyzam1212 > 2013-03-08 14:46 | Report Abuse

Yeah...many stuck before the January's great fall...

Posted by alenac > 2013-03-08 14:55 | Report Abuse

Chleong, can you explain, how you determine that Scomi is at its disposal cycle?

Posted by chleong > 2013-03-08 15:04 | Report Abuse

Very simple the push up since the low of 0.22 towards 0.45.
Believe me they have no intention to move up above 0.40

Posted by rocket > 2013-03-08 15:28 | Report Abuse

KC ,tommy , any comment ?

Posted by rocket > 2013-03-08 16:30 | Report Abuse

KUALA LUMPUR: Scomi KMC Sdn Bhd, a member of SCOMI GROUP BHD [], has been awarded a contract worth RM2.1 billion by Petronas Carigali to supply drilling fluids, barite materials, equipment and services for a five-year period beginning March 1, 2013.

This confirms an earlier report by The Edge weekly that Petronas Carigali has picked Scomi over a few international names to get the lion’s share of the five-year contract under the RM8 billion to RM10 billion Pan Malaysia mega tender.

In an announcement to Bursa Malaysia yesterday, Scomi Group said the contract award is expected to contribute positively towards the earnings and net assets per share of the company for the five financial years ending March 31 2013 to 2018.

In 2006, Scomi received a much smaller five-year drilling fluids contract worth US$500 million (RM1.55 billion) from Petronas.

Scomi Group recently underwent a restructuring exercise which saw the disposals of its stakes in Scomi Oilfields Ltd, Scomi Sosma Sdn Bhd and Scomi KMC to another listed arm, SCOMI MARINE BHD [] (SMB)

This resulted in SMB becoming an integrated oil and gas, marine and drilling service provider, in which Scomi Group has a controlling 65.65% stake.

The group had tendered for two packages under the Pan Malaysia mega tender for its conventional and unconventional packages worth RM3.11 billion to RM5 billion last July. It also tendered for a three-year contract from Petronas Carigali for integrated services in Turkmenistan, worth US$40 million.

Scomi hopes to increase its existing order book of over RM2 billion in the oilfield service segment by participating in tenders worth in excess of US$1 billion internationally.

Among other contracts that its oilfields services unit had won are a three-year contract worth RM380 million in Indonesia to provide drilling fluids and completion services, estimated to run from July this year; a RM93.6 million contract in Myanmar, and a RM130 million contract in Qatar. The contract awards in Myanmar and Qatar were announced on Dec 7 and Aug 23 last year respectively.

The group is also believed to have been successful in its bid for a US$40 million job offered by independent oil producer, Dragon Oil (Turkmenistan) Ltd, in Turkmenistan for the supply of drilling fluids.

Scomi Group recorded a revenue of RM1.59 billion and a net profit of RM18 million for its 2012 financial year ended Dec 31. The group reported a net loss of RM232.33 million in the 2011 financial year.


This article first appeared in The Edge Financial Daily, on March 8, 2013

Posted by tommylou > 2013-03-08 16:40 | Report Abuse

Rocket, I am always of opinion that ppl who are weak at management are good at something,...pr or positioning themselves or maybe politics. In Shah, he has been very well connected in the higher circles of BN politicians. And he did nego and position himself as the CEO scomies ..So now he will just take the glory....as it comes

Posted by Matsaham Mashuk > 2013-03-08 16:45 | Report Abuse

Buy on rumors and sell on news.kantoi punya stock.every Q result asyik rugi ajee...

Posted by rocket > 2013-03-08 16:48 | Report Abuse

thanks Tommy. But just don't understand why the 2.1B project was just converted to only 0.03 increase in share price . deworming is urgently needed by this company.

Posted by tommylou > 2013-03-08 16:50 | Report Abuse

Bad experience from investors.......and coupled with today being Friday, a lot of announcement can be made over weekend....

Posted by chleong > 2013-03-08 17:10 | Report Abuse

As I said they are disposing creating the Down Cycle.
With the announcement, they push up 3 sen to help their disposal.
Not the right time to buy, it takes a period time to slowly drop lower.
They make money, they got new contract not necessary shows in the shares price if they decide not to.

Posted by rocket > 2013-03-08 17:20 | Report Abuse

deworming ?
if this is not going to convert to share price, how IJM is going to answer this to his shareholder?

Posted by chleong > 2013-03-08 17:30 | Report Abuse

Initially i was like what you thought of with all the fundamental stories. It is just price movement stories, IJM is in for long term not short term so it won't affect them a single bit. For example they profitted and share it among themselves, not sharing with the public. They will dispose and keep collecting back lower. At the right time they will push it up again but not now, it will takes some time. Price decision is always in their hand, they say so (very unfair)

Posted by rocket > 2013-03-08 17:38 | Report Abuse

thanks chleong. will keep this in mind:)

Posted by potenza10 > 2013-03-08 17:42 | Report Abuse

So guys...any TP for next week? I am queuing at 0.355 but failed to dispose...hmmmm

Posted by chleong > 2013-03-08 17:54 | Report Abuse

Can't advise when comes to cut losses. you decide potenza10.
If scomi is seriously uptrending nothing can stop them.
No such thing like 0.365 and reverse back. TP (down mode).
But they will play Up & Down to help complete their disposal.
Look for A More Profitable counter.

Posted by potenza10 > 2013-03-08 18:21 | Report Abuse

My average price is 0.32 :)

Posted by chleong > 2013-03-08 18:44 | Report Abuse

You should not have any problem disposing.
You can still try your Luck if they play short burst up.
I cut losses at 0.375 when i bought 0.40 (now i learned)
My intention is to exercise caution with scomi because of the disposal cycle. Don't just think UP only. If the Up is serious, buying 0.365 will still generate profit because of uptrending.

Posted by alenac > 2013-03-08 19:15 | Report Abuse

Perhaps, the run up to 44.5 sen is just too soon, as the last one was on 10th October 2012. Nevertheless, had the turnover reached 700000 lots today it would have risen by at least 6 sen. So up by 2 sen on the proportionate basis is still good bearing in mind the turnover is not high. Moreover, some buyers have bought early a few days before the announcement of the contract may have sold today. So the market have to absorb the weak sellers before it moves further up.

Posted by chleong > 2013-03-08 19:52 | Report Abuse

Disposal Cycle means they have lost the momentum (weak) & volume (lower), unsustainable (tipping towards down side). Their intention is to sell high to you and buying up their own bids to make it looks like moving up. You can observe the charts closely.

From 0.300 to 0.315 and from 0.335 to 0.365 in order to "motivate buying" for their successful disposal. You still can around this "motivated" gap to profit. Try to observe a few more days you will see the picture.

Posted by alenac > 2013-03-08 20:01 | Report Abuse

Strangly I have calculated the 2 momentum charts William AD and On balance vol. All cumulative figures are moving upwards.

Posted by chleong > 2013-03-08 20:07 | Report Abuse

Is alright alenac, let's observe further the picture will be clearer.
I don't get stuck with chart & theory, just using it explain thing.

Posted by Frank Soweto > 2013-03-09 06:40 | Report Abuse

Hmmn Interesting 1 for disposal 1 for Upwards momentum :) need DJ chiew take on this :)

Posted by lynncly > 2013-03-09 10:24 | Report Abuse

yeah frank, where is scomi official chartis djhchew ? mia already !

Posted by chleong > 2013-03-09 11:16 | Report Abuse

It is not difficult to understand and there is no conflict here.
Do you still see the same build up momentum, increasing buy up volume.
This is just a comparison model commom sense.
The Peak is Already Over, Short Upward Movement + Disposal is normal.
It is a matter of interpreting the recorded history (chart).

Posted by Frank Soweto > 2013-03-10 10:33 | Report Abuse

hehe Lynn, I think djhchew is on vacation - better get his name right so he can reply :)
Oh thanks chleong for the clarification I dunno TA or chart :( so I'm looking for guidance :) TQVM

Posted by KC Loh > 2013-03-10 12:06 | Report Abuse

He made enough already, with his excellent TA bets, that's why can afford such long vacation. Even I cannot afford it! :)

Posted by mictkp > 2013-03-11 14:43 | Report Abuse

different people different point of view from the chart. still stick with sell on news better. also is better to drop out from the market. as election is near soon. wait to collect again from lower. Scomi won so many projects/businesses but CEO management skill still need to prove if they want to attract more fund manager.

Posted by lonelyreload > 2013-03-11 21:27 |

Post removed.Why?

Posted by KC Loh > 2013-03-11 21:31 | Report Abuse

Frank, are you selling here anytime soon? Hehe

Posted by alenac > 2013-03-11 23:08 | Report Abuse

Foreigners are putting money in malaysian equities while malaysian are getting out.

http://biz.thestar.com.my/news/story.asp?file=/2013/3/11/business/20130311112942&sec=business

Posted by chengyee > 2013-03-12 15:54 | Report Abuse

will this counter rise soon? It has got 2Bs contract worrr

Posted by chleong > 2013-03-12 17:18 | Report Abuse

Not the right time to buy NOW, read my earlier message.
Disposal Cycle, nothing can do about except waiting.
Try your luck at 0.30, maybe can a little profit

Posted by tommylou > 2013-03-12 17:30 | Report Abuse

For Franko and KCloh.....your good friend is sticking around to see what Ijm will do....lol

http://biz.thestar.com.my/news/story.asp?file=/2013/3/11/business/12819677&sec=business

Posted by KC Loh > 2013-03-12 17:49 | Report Abuse

he why worry, at 5.5% stake or 73 million shares and purchase price of about avg 29 sens i believe, shake leg lor! or eat full sell pau as the cantonese would put it! :)

Posted by KC Loh > 2013-03-12 19:00 | Report Abuse

Siew should be smiling now. Can see Abu grinning like a monkey already! :). Wonder if Frank sold as he said he would or not? :)

http://klse.i3investor.com/servlets/forum/700892546.jsp

let's do a rough rationale. if current price stands at 35 sens, and if the gearing is halved, will the logic be that the price is 70 sens? happy if it falls to 60 sens hehehe..... i dunno how to count. Awaiting experts!

Posted by einvest88 > 2013-03-12 19:26 | Report Abuse

scomi in the mid of completing the corporate exercise with scomi marine (now called scomi energy). Scomi disposed all their O&G biz to Scomi Energy and in turn will get 1b+ Scomi Energy shares. After the disposal, Scomi will now own Scomi Energy from 42% to almost 65% and become an investment holding company controlling scomi energy and scomi engineering.

Posted by KC Loh > 2013-03-12 19:38 | Report Abuse

done. look at the price transaction! 50 sens, easy lah, as promised to IJM! LOL
http://klse.i3investor.com/servlets/anpth/892643.jsp

Posted by tommylou > 2013-03-12 19:42 | Report Abuse

Acquired by Shah Hakim!

Posted by prc4wifefe > 2013-03-12 19:43 | Report Abuse

Many hypothesis....bottom line any new TP?

Posted by rocket > 2013-03-12 21:07 | Report Abuse

KUALA LUMPUR (March 12, 2013): Scomi Group Bhd has completed its corporate exercise which sees all its operations in the oil and gas (O&G) industry consolidated under one entity, Scomi Energy Services Bhd (SESB).

In a statement yesterday, Scomi Group said the exercise, which commenced on Feb 29, 2012, involved the disposal by Scomi Group to SESB of Scomi Oilfield Ltd, Scomi Sosma Sdn Bhd and Scomi KMC Sdn Bhd.

"The exercise also involved an internal restructuring of legal entities within the oilfield services (OFS) for OFS Eastern Hemisphere business to fall under SESB; and also a capital repayment within SESB to its shareholders.

"With this completion the group has streamlined and consolidated the SESB and OFS Eastern Hemisphere businesses into an upstream drilling and marine services business," it said.

Scomi Group said the exercise has enabled shareholders to participate in a more diversified O&G business with greater growth potential.

With the consolidation of the business under SESB, both SESB and Scomi Group shareholders would benefit from the future growth potential of a major player in the regional O&G market, it said.

More importantly, it said, the group has financially restructured and pared down debts and further strengthened its balance sheet substantially.

"Scomi Group has pared down its total borrowings, from RM1.9 billion in 2008 to just RM1 billion, most of which are short term and operational funding at various subsidiaries," it said.

The enlarged entity of SESB has a stronger financial standing, which will allow for greater flexibility in raising capital to fund its continued business growth.

SESB currently has an order book of over RM4.9 billion. It recently won major contracts in Qatar, Myanmar, Indonesia and Malaysia. – Bernama

Posted by Frank Soweto > 2013-03-12 21:58 | Report Abuse

hehe tommy nice pic looks like he is waiting for the big shareholders of Scomi in his rest :)
@KC haha sold today .35 @20 lots :)

Posted by Ng Kai Yau > 2013-03-13 00:14 | Report Abuse

look like have to wait till 30 sen for accumulate of this counter. Hi chleong, which counter to buy? scomi or scomies?

Posted by chleong > 2013-03-13 00:31 | Report Abuse

SCOMIES have to monitor further (will the volume build up tomorrow)
SCOMI not the right time now (0.37 huge resistant), if you have bought got to hold for long term.

Posted by Ng Kai Yau > 2013-03-13 00:36 | Report Abuse

Thks, look like I have to wait for 30 sen for accumulate this counter