Just my thoughts. IJM has private placement of 10% of Scomi share. And this 10% can be disposed anytime when the price is up. The fact is this is still a penny stock "to me", "to me" only, no offence. People can be rich through penny stock if they are talent enough but also can get burnt a lot. I saw many of my friends get burnt on penny stock. Scomi for the time being will be still okay with IJM involvement but long run, I dont think it's good because 长贫难顾。Must know when to pull back. IJMinvolvement can be just like temporary holding or pushing the price up. Furthermore, Scomi's debt is too much to be taking care of. Just my thought, no offence. Wish you all profit a lot in equity market.
Expires very soon.Perhaps another reason for the mother share to rise is to make sure the warant is in the money(premium) so that warant is not a waste and attractive to change to mother share.
yaya Pathew hopefully soon :) then we can all get together ya :) @Stock5678 no worries no offence at all :)Infact we appreciate your caution. honestly If RC took over then I'm really worried:)U know Scomi has been a disappointment for far too long but we look to the future. pls understand that the ongoing restructuring process involve disposing lots of unprofitable operations and the disposal amount to over 900 millions which will make the debt manageable and give them some time. Honestly, It is Abu that I'm more worried about as his intentions are not really known except to say that he is merely an investor but why buy so much until the level of Ayatollah:)Anyway thanks for sharing your thoughts- hopefully keeps us all on even keel.
Stock 5678 : thanks for your advice n will alway keep it in mind:) KC, Frank pathew n Ng, seriously I learned a lot from u all. Just hope everybody can make fr this counter .
haha KC! well Rocket KC pretty good at sillies too hehe but on a more serious note he is the one you want to keep an eye on -well at least his postings :)
Blue ocean simply means a unique (and maybe new) innovative way of application to technology. What scomi has is not new. You just look at the two giant competitors they are matched with. But the consolidation of their far reaching O&G and drilling expertise is construed as blue ocean. Its a new term government people picked up recently. Of course, news media jumped in without checking the facts and now extolling an old technology mat salleh had for years!
I’ve never had the confidence to make precise distinctions about which of the stocks we own will go up more than the others. It’s hard enough at any one time just to find 40 stocks that won’t kill me and another 10 that will make me money. On current stage I'm focus on oil and gas sector related engineering,procurement and SVC stocks.More home work and follow up needed on top 5 picks selection.
These sentiments are not lost on the company. “Yes, we have to change the perception (about Scomi),” the spokesperson notes. “We hope to continuously win more awards and surprise the market.”
and this is the adapted blue ocean of Scomi. look when the first article was written! Copying is not wrong as in the case of Japanese after WW2, but lay the facts properly! semua pun blue ocean! hahahaha
kcfan, you need to get use to market conditioning and translate that to experience only! then you will be set to go! i see you have astute ability for research. need to get your confidence from experience up only! :)
“We have turned less negative on the overall deal given greater clarity on Scomi's prospects, which would be BOOSTED if it secured a marginal field contract.”
Wow...scomi really strike back!...broke above 0.41.. miss the trade... hoping to reenter this monday... below 0.40... hehehehe.... but looks technically still in downtrend mood... hope it can reverse up. Mr.Bane hijacking plane is ON !!!
Haven't read the edge yet, but gut feeling tells me Abu is livid at the rescinding of the 1-for-5 scomimr share offer. He should own a stake at scomimr!
Something has to give. Three tigers on one mountain all waiting for Nov-Dec period. Scomimr will fly to Alam's price and everyone wants a big say! I don't think IJM will be eliminated because after the exercise, they are biggest shareholders in scomi and scomimr! Watch for biddings now and more turbulances.
Gut feeling is Abu wants scomimr. IJM can capitulate by buying out scomimr or just come out and say they are friendly investor in scomimr. Alternatively, they can come to arrangement like F&N case like in Singapore. Two giants agree to buy up stake and share the subsidiaries among themselves.
look like originally the MOF contract should be award to scomi group. If siew really can stop the deal of transfer the right of mof to scomimr, this move is benefit to scomi grp. But IJM entry seem like hard to stop (IJM has 5% now), the only he can stop maybe just the ICULs.
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Posted by pathew > 2012-10-20 09:45 | Report Abuse
Haha... Good on you frank! When are you coming back to bolihland to toss YeE sang n have some heine? Lol