but how many percent of the total contribution related to his oil subsidiary company to parent. I don't think is significant. By the way anyone check and know what the NTA for this company?
luckyfei, I do not think there is anything wrong with the fundamental of this company.
Good news seems to have little positive impact on share price because they are overshadowed by the still weak sentiment in oil market.
The Middle East producers have stressed a dozen times in the past 6 weeks the they won't curb output to halt the steep fall. In fact these countries seem to actually WANT further price decline as part of attempt to force cutbacks by US shale drillers.
" It wouldn't be the first time US drillers are caught up in an OPEC battle for market share. In 1986, Suadi Arabia opened its taps and sparked a four-month , 67% plunge that left oil just above USD 10 a barrel. The US industry collapsed, triggering almost a quarter-century of production declines, and the Saudis regained their leading role in the world's oil market." --Bloomberg
Until we see the repetition of history or signs of it taking place , sentiment remains week.
Many are betting oil to head USD 40 in coming months. We can only see the market dynamics taking its course for the time being , while hoping for the turn of event to start unfolding.
Thanks koi Koh for sharing the NTA it does help. I have similar figure for NTA for Scomi as well. What I get from MalaysiaBiz is 0.41 now more comfortable the figure since is almost similar with your.
Oilfield marine services provider Scomi Energy Services Bhd (fundamental score: 1; valuation score: 0.6) secured RM300 million worth of oilfield contracts in the last three months.
In a statement today, Scomi said these contracts serve the purpose of providing drilling fluids and waste management services across Asia Pacific countries.
This brings total secured contracts to RM475 million.
By The Edge 15 Jan 2015,hope this will boost Scomi as well
Thanks sonic008 for sharing. Believe people are more interest to know what the meaning of those figure like (fundamental score: 1; valuation score: 0.6)
looks like the rout is going to last a while more the new king said Suadi is going maintain its production policy the war on the shale producers is still on
Approval of Manufacturing License for New JV Facility
Graphene NanoChem (AIM: GRPH), the performance nanochemicals and advanced materials company, is pleased to announce that Scomi-Platinum Sdn Bhd, its joint venture company, has been granted approval for a manufacturing license by Malaysia's Ministry of International Trade Industry for its planned nano-enhanced oilfield chemicals facility in Port Klang, Malaysia. The 45,000 MT per annum facility is targeted to come on line by 2016.
This milestone represents the latest ongoing progress of the development of the Group's joint venture partnership with Scomi Oiltools Sdn Bhd.
Graphene NanoChem joint venture Scomi-Platinum Sdn Bhd has signed an agreement with one of the world's top five international oil companies for the testing and evaluation of the PlatDrill Series.
Graphene NanoChem says the agreement with an IOC that operates across the entire oil and gas industry value chains and markets, marks a significant milestone of the phased expansion of PlatDrill into new regions.
The ongoing deployment of PlatDrill is gaining strong market traction within the south-east Asian region. It is the group's objective to expand the market share for PlatDrill and the agreement with an IOC supports the objective of the group in establishing presence and increasing sales worldwide.
The group expects the tests to be completed by Q4 2015, following which the potential for the commercial way forward will be discussed.
Graphene NanoChem chief executive Jespal Deol said: "I am delighted to announce thata leading IOC is formally assessing the potential of the PlatDrill Series. We have a unique technology platform that plays an important role in enabling faster drilling, reducing equipment downtime and improving output levels to drive down operating costs and that is why we believe many oil and gas players will be interested in what we have to offer."
Scomi Group Bhd ("SCOMI" or the "Company") - Striking off of Scomi Oiltools (Shetland) Limited (“SOSL”) from the Register of Companies of Companies House of the United Kingdom (“UK”) (the “Registrar”) (the “Register”) pursuant to the UK Companies Act 2006
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luckyfei
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Posted by luckyfei > 2015-01-08 17:13 | Report Abuse
something is not right with this counter, keep on securing projects but the price like dirt only ! does not match the company fundamental I believe ..