The five largest oil refineries in the U.S. are on the Texas and Louisiana Gulf Coast, Oil price will go up again to $60 at least. Not to mention the N Korea.
Scomi Engineering getting kicked out of India and imposing fines!!
According to MMRDA officials, the contract with Malaysian firm, Scomi Engineering was for three years, and now it was up to MMRDA to either stay with the same contractor or appoint a new one.
The bid floated by MMRDA on Thursday, reads, “MMRDA invites bids for operation and maintenance for elevated Monorail for 10 years.”
Not good news.......But was inevitable. Any news from court in KL?
To me, the TP should be 0.45 at least with the following news:
Scomi had entered into a JV to pursue business opportunities in the EPC of hydropower plants and wind farms in Asia, including Australia and Turkey.
Its JV partners are shareholders of Imartek Sdn Bhd, which owns a plant that manufactures core components of hydro turbines and generators.
As Australia aims to increase its clean power sources to 23% by 2020, of which wind has been identified as a major contributor, while Turkey is targeting to generate an additional 1,000MW of wind energy.
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.
The Scomi Engineering team and Microsoft managed to build the PoC together in the span of about four months with no IoT programming background. This PoC will allow them to showcase the solution as part of their add-ons in the product. They will continue to use this PoC for their next phase of providing integration with Dynamics CRM to automate the task assignments sent to the maintenance department. In addition, by collecting data in DocumentDB, they would like to be able to do predictive maintenance by using Azure Machine Learning.
The success of this PoC allows Scomi Engineering to start pitching this solution to their existing and new customers. As a company that provides transportation solutions, they’re extending this project to cover other scenarios such as fleet management.
Many O&G companies are making loss. But Scomi is quick in responding to the current oil price by merging it and give the mother ship 3 nice revenue streams. As long as they can balance the revenue, it should be doing better than other O&G dependent companies.
Ganii, You can have the biggest order book in the world but the facts remain, Scomi EN revenue is down (163 Million) losses are up (-20 Million) and loans and liabilities sitting at 900 Million!!! Of that order book, what is sitting in India, Brazil and in KL??? India have retendered for the M&O and 6 units sitting idle and broken down with more still to be delivered and no sign of that happening soon, India imposing fines against late delivery and worse to come..., Brazil - Failure to deliver.... KL - Failure to deliver, Units sitting idle, safety issues and court case looming.
But dont worry - the directors have all been paid and are looking to merge with two other loss making companies
the merger plan by creating new group to continue to fund the loss making company. thereafter by way of disposal valuable assets to raise fund of US 50 million to settle problematic Monorails business. Advocate the merger plan is creating shareholders value, effective structure & stronger financial position after merged. Scomi energy business losses NOT cause by internal issues, due to lower oil price BUT scomi Eng is not performing well even in Malaysia. Business failure
Scomi is third party equipment service provider & chemicals to the O&G industry, low oil prices mean less operators and the requirement those services, higher oil prices only allow operators to work at a reasonably margin, even if the oil prices shot up over-night and the operators were comfortable to start ramping up operations, Scomi would still have to go out there and win new work.... Selling off the assets from the O&G side to fund transport makes sense but only if the demand is already there and its not, as there is no new work or contracts won in transport - only issues. Once and if the O&G assets are sold off?? regardless of the Oil prices and demand for equipment there will be no assets so no work If we look at the potential that is Ophir - yes oil prices will have an impact but only when the oil is flowing, processed and sold..... and on that point what is happening with the FPSO??
At the end of the day we are all here to try and make a few bucks out of stocks and shares. with all of the above the potential of the share prices going up to any sort of real leavel are extremly limited. The share options that have been mentioned are just not viable for us at the levels they are now. Not only that once all the shares have been handed out and this mess that they have created gets sorted out, the company will be drastically devalued, then they sell off the assets......the losses are not going to stop overnight and the loans still need to be serviced and repaid - what are you left with?????
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
longvalley
2,287 posts
Posted by longvalley > 2017-09-03 08:15 | Report Abuse
2 c ide....