it should just spin off loss making monorail business, instead of dragging whole vessel sinking. this consolidation will pull down scomies real potential. i dont really support this consolidation idea. desperate time need desperate move for survival.
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.
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 ?
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 ?
Judgement day indeed..... Posted NP for the year so far (All three companies) -134,681,000.. We already know Q3 is going to be bad, more falling revenue, more court cases, more fines.
So how long before the share prices start to free fall???
Will they make it to Q4 or close the doors????????
Scomi will be pushed higher to make it attractive for Scomies and Scomien shareholders to accept swap. After the exercise, is another story altogether.
Extraordinary General Meeting Date & Time 04-Jan-2018 10:00 Depositor Date 29-Dec-2017 Venue Dewan Berjaya, Bukit Kiara Equestrian & Country Resort, Jalan Bukit Kiara, Off Jalan Damansara, 60000 Kuala Lumpur, Malaysia Description (I) PROPOSED SHARE CONSOLIDATION (II) PROPOSED BONUS ISSUE OF WARRANTS (III) PROPOSED MERGER OF SCOMI ENERGY (IV) PROPOSED MERGER OF SCOMI ENGINEERING
Extraordinary General Meeting Indicator Notice of Meeting Description (I) PROPOSED SHARE CONSOLIDATION (II) PROPOSED BONUS ISSUE OF WARRANTS (III) PROPOSED MERGER OF SCOMI ENERGY (IV) PROPOSED MERGER OF SCOMI ENGINEERING Date of Meeting 04 Jan 2018 Time 10:00 AM
KUALA LUMPUR: The Scomi group expects to strengthen its financial base by merging its three listed entities under Scomi Group Bhd . ... Scomi Group currently holds 65.64% equity interest in SESB and a 72.33% stake in SEB. ... SESB shareholders will get three new Scomi Group shares for ...
Scomi Group said the new group structure would provide shareholders direct access to its business going forward.
For SESB’s and SEB’s shareholders, the privatisation is expected to provide them with the opportunity to realise the value of their equity at a premium and participate in future growth of the new group. This will also provide SGB with a broader shareholders base and better shareholders spread.
A bit of a poor result at the voting polls....... was only to be expected i guess and ES were not really in the running to stand alone. Will the new entity be able to survive long enough to make any difference to the losses, lack of work and failing business????? Whats next????? Watch the share prices bounce up and down for a while and wait for the Q3 results.
Buy SCOMIEN instead, with the 2 to 1 merger on track, with current SCOMI price of 17.5, SCOMIEN shall be 43.5, but only 31.5 now, easily 30% upside waiting, good arbitration.
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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....
JaJa7777
90 posts
Posted by JaJa7777 > 2017-11-19 12:17 | Report Abuse
Its not a strategy - its purely survival..