Posted by InfiniteStratos > 2015-09-08 07:42 | Report Abuse

Some takeaways from AGM:
1) completion of chennai monorail by end of this year, so bulk of receivables in India will start to be converted to cash as payments for the work comes in.
2) pursuit of EOT claim and variable claims due to non-Scomi delays will be submitted to India, Malaysia, and Brazil government. Total amounts to around rm800 million (if i remembered correctly). This is over and above receivables and payments that have already been recorded for works done. Specialist and legal team have documented the data, analysis done and the team is confident they can pursue it.
3) Exponential growth of offering with Skoda partnership. MRT and LRT tenderbook is around rm8 billion.
4) SCOMIEN is the only company in the region to produce certain military vehicles, and orders have been made for it.
5) approx rm2 million operational profit for 1st quarter (rm7 million with currency translation) alone, target to be profitable for 2016.

Posted by ladahitam > 2015-09-08 12:06 | Report Abuse

Did you attend the agm? Where there a lot grilling from share holders. I were supposed to go but last minute at an urgent family matter.

Posted by InfiniteStratos > 2015-09-08 13:39 | Report Abuse

Yes. Went there. There was a shareholder that voiced his concern quite vocally during Q&A but other than that, other shareholders asked normal questions about the company. I feel that the developments for the company has been good. If other shareholders still want to throw shares at depressed prices despite of positive developments in the company, well.. it's their money.

Posted by InfiniteStratos > 2015-09-08 18:19 | Report Abuse

From what I know since July 2014, only Eqypt and Indonesia monorail was awarded, both of which Scomi did not tender in the end, saving tender costs in the process. From my understanding, Scomien has been on the ground and are convinced that these projects should not be pursued because of limited chances that they will be awarded to Scomien. Kerala monorail was scrapped in the end, and only Bombardier tendered for it, quoting 5 times the tender requested price. Scomi did not put in any tender for this as well. Have not heard that there was any tender awarded recently in delhi and saudi arabia.

Posted by ladahitam > 2015-09-09 17:45 | Report Abuse

bursa recovered today, but someone keep selling scomi engineering, they must have lost the Thailand monorail project they were bidding

Posted by gumboo > 2015-09-12 03:16 | Report Abuse

www.bursamalaysia.com/market/listed-companies/list-of-companies/plc-profile.html?stock_code=7366

Posted by gumboo > 2015-09-22 21:17 | Report Abuse

Serious failures in the monorail in Brazil
http://sao-paulo.estadao.com.br/noticias/geral,apos-seis-anos--monotrilhos-colecionam-falhas--atrasos-e-estao-mais-caros,1765447

Posted by ct888 > 2015-10-21 13:00 | Report Abuse

Hi r there anyone following this counter?
Think to invest in but seems like almost no buyers ,
and almost no sellers! Or the sellers hiding. Any comment?

Posted by lemang_80 > 2016-02-20 13:36 | Report Abuse

IJM increase their equity in this...be ready next week.. dont miss the train...

Posted by ivan9511 > 2016-03-01 01:06 | Report Abuse

emang_80 : good reports and why still can down 3.8% is that the reports need to redo again ?

Posted by ladahitam > 2016-03-01 21:59 | Report Abuse

will start selling all tomorrow, two major disputes in Malaysia & India

http://www.theedgemarkets.com/my/article/scomi-files-ex-parte-injunction-against-prasarana

An MMRDA official who did not wished to be named confirmed the same. "The company has said that there has been a delay in the construction of monorail for which MMRDA is responsible as it has resulted into escalation of project cost. In order to solve the issue, we have appointed a three member team as the arbitrator.

" The three member team was appointed around three monts back and this includes Railway officer S D Limaye, Former PWD official Jayant Nashikkar and Anand Kulkarni. It should be noted that already the monorail project is delayed.

From its start itself, the monorail project has been facing a lot of problem which includes technical glitches.

The Jacob Circle Wadala section of monorail which was expected to be operational by the mid of this year has also been delayed as the planning authority has yet not procured the switches (the mechanical unit that helps the monorail to go from one beam to the other at the both ends of the corridor). There are two switches which are lying with customs and two more are yet to arrive to Mumbai from Malaysia. It is said that the company`s financial status is not sound enough and this is thr reason why the reason why the two switches are yet to reach Mumbai from Malaysia.

Last year MMRDA had even said that the monorail trial run would begin by January-February this year but the same didn`t not happen due to unavailability of switches. This also means that the phase-II between Wadala and Jacob Circle would begin only by this year end provided the switches reach on time. In the month of April last year mid-day had done a story (Mumbai Monorail is running a loss of Rs 1.

5 crore every month) in which it was stated that as per the MMRDA data monorails daily cost of operation is exceeding its earnings via ticket sales and a major sum goes in paying salaries of MSSC security guards manning stations.While tickets rake in Rs 2 lakh every day, it takes Rs 7 lakh per day to operate the Monorail.

Source: http://www.mid-day.com/articles/arbitrator-appointed-to-look-into-constant-delay-of-mumbai-monorail-project/16993154

Posted by i_investor > 2016-03-01 23:54 | Report Abuse

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ladahitam , luckily you have not sold all ! ! You failed to read news correctly !!!
Please read again properly !!!


It is actually a piece of GOOD NEWS:

SCOMI Engineering Bhd's wholly-owned subsidiary has OBTAINED an ex parte injunction to restrain Prasarana Malaysia Bhd from wrongfully terminating the RM494 million Kuala Lumpur Monorail Fleet Expansion project.

Source:http://www.theedgemarkets.com/my/article/scomi-files-ex-parte-injunction-against-prasarana


SCOMI Engineering Bhd’s unit Scomi Transit Projects Sdn Bhd has SECURED a court ruling restraining Kuala Lumpur Monorail operator Prasarana Malaysia Bhd (PMB) from wrongfully terminating the RM494mil contract for the monorail fleet expansion project.

Source: http://www.thestar.com.my/business/business-news/2016/03/01/scomi-obtains-injunction-against-prasarana/


.

Posted by ladahitam > 2016-03-02 00:52 | Report Abuse

the main point here is the sole entity responsible for monorail in Malaysia is terminating the contract, why? Project delay after 5 years? Would scomi get further new project from them, if there is legal wrangle?

read the second link, there is 7 years delay in India, and the have not won any new monorail project since July 2014. Scomien CEO was replaced as well. All gloom piece of news.

if you study their financial report, they have been generating negative cash flow for the last 6 years running with double digit gearing. Zero div has been declared for the last 6 years and share price has fallen more than 80%

In a nutshell, there is delay in all their project, coupled with Forex loss in Brazil, that's is the reason their outgoing ceo has been on pr blitz, feeding all the above news of potential win to counter the actual fallout

Posted by i_investor > 2016-03-02 09:03 | Report Abuse

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ladahitam, please make sure you have READ ALL carefully, do more homework , more analaysis and more thinking.

Even the latest piece of GOOD NEWS BUT YOU HAVE FAILED TO READ IT CORRECTLY, that shows your credibility !



Further to that you have really underestimated IJM for the reasons for IJM emerged as the single largest shareholder!


Use your common sense to think, why the following new projects in India has been awarded !!!

RECAP:

Mumbai Phase-2 awaits rakes from Malaysia to get rolling.

The project was awarded to a consortium of Larsen and Toubro and Scomi Engineering of Malaysia.


The trial runs for the 10.24-km-long phase-2 of the monorail from Wadala to Jacob Circle will begin in April after the Mumbai Metropolitan Region Development Authority (MMRDA) receives five additional monorail rakes (rolling stock). These are expected to reach the city from Malaysia by the month of March.


See more at : http://www.asianage.com/mumbai/phase-2-awaits-rakes-malaysia-get-rolling-433


SCOMI Group Chief Operating Officer (Transport) Kanesan Veluppilai said the company had already obtained initial approvals from various agencies and the state is believed to be in favour of awarding it the project In Karnataka, India.

http://www.bernama.com/bernama/v8/bu/newsbusiness.php?id=1219212


SCOMI Group chief operating officer (transport) Kanesan Veluppilai said the company had already obtained initial approvals from various agencies and the state was believed to be in favour of awarding the project 59km rail line in Bengaluru.

http://www.thestar.com.my/business/business-news/2016/02/26/scomi-eyeing-59km-rail-line-in-bengaluru/


IJM has been APPOINTED by MRT Co. for the MRT 2 viaduct guideways and other associated works.

(http://www.mymrt.com.my/cms/upload_files/article/article_download_000054.pdf)


RECAP:

IJM, SCOMI in the running for the RM27Bil PDP (PRASARANA) job:
(more details: http://www.thestar.com.my/business/business-news/2014/07/12/prasarana-joins-the-fray-fed-govt-entity-keen-on-proposed-transport-job-on-penang-island/ )



SCOMI profile: http://www.scomi.com.my/GUI/video/klmonorail/video_rail.html

SCOMI: http://www.scomigroup.com.my/

SCOMI EARNINGS REFERENCE http://www.corporateinformation.com/Company-Snapshot.aspx?



AND THE LATEST GOOD NEWS:

SCOMI Engineering Bhd's wholly-owned subsidiary has OBTAINED an ex parte injunction to restrain Prasarana Malaysia Bhd from wrongfully terminating the RM494 million Kuala Lumpur Monorail Fleet Expansion project.

Source:http://www.theedgemarkets.com/my/article/scomi-files-ex-parte-injunction-against-prasarana


SCOMI Engineering Bhd’s unit Scomi Transit Projects Sdn Bhd has SECURED a court ruling restraining Kuala Lumpur Monorail operator Prasarana Malaysia Bhd (PMB) from wrongfully terminating the RM494mil contract for the monorail fleet expansion project.

Source: http://www.thestar.com.my/business/business-news/2016/03/01/scomi-obtains-injunction-against-prasarana/


CEO Kanesan Veluppillai confirmed that Sao Paulo Metro had turned to SCOMI Engineering to complete and possibly fast track the Line 17 monorail project.

“We have an order book of RM1.32bil excluding additional Line 17 orders,” Kanesan said.


http://www.thestar.com.my/business/business-news/2016/02/29/scomi-engineering-gains-from-brazil-turmoil/


.

Posted by i_investor > 2016-03-04 16:21 | Report Abuse

.

The High Court blocks Prasarana from terminating RM494m KL monorail expansion deal with SCOMI.

The contract that SCOMI had won was for the upgrade of the Kuala Lumpur monorail stations as well as its electrical and mechanical system, to build a new depot and to deliver 12 sets of new four-car trains to replace the two-car trains in use. (Malay Mail)

.

Posted by i_investor > 2016-03-10 09:01 | Report Abuse

.


Prasarana gives Scomi 60 days from March 8, 2016 to deliver monorail trains.

http://www.thestar.com.my/business/business-news/2016/03/09/prasarana-issues-notice-to-remedy-to-scomi/


.

Posted by i_investor > 2016-03-15 09:48 | Report Abuse

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SCOMI sets up rail manufacturing facility in Brazil. [The Star]

.

Posted by i_investor > 2016-03-16 08:52 | Report Abuse

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Prasarana won’t cancel contract with SCOMI based on earlier notices [The Star]

.

Posted by MuttonCurry > 2016-03-16 08:54 | Report Abuse

Scomi not paid while contract under dispute

Posted by Angielim9955 > 2016-03-28 01:29 | Report Abuse

scomi team , I got one weird thought " why scomien share price Has always been higher than scomi one ? but I find out scomi eps higher than scomien, but why since the first day scomien price always far more higher than scomi ?

Posted by ladahitam > 2016-05-30 09:48 | Report Abuse

likely bad QR results based on share price movement

Posted by lemang_80 > 2016-06-02 20:04 | Report Abuse

Scomi Eng wins extra RM505mil contracts in Brazil


PETALING JAYA: Scomi Engineering Bhd has been awarded RM504.6mil in additional works for its Line 17 – Gold Sao Paulo monorail project in Brazil, increasing its contract value for the project to RM601.8mil.


http://www.thestar.com.my/business/business-news/2016/06/02/scomi-eng-wins-extra-rm505mil-contracts-in-brazil/

Posted by lemang_80 > 2016-06-02 20:13 | Report Abuse

Can push up the price??

Posted by chinaman > 2016-06-12 14:24 | Report Abuse

Scomi demands RM356m from Prasarana for KL Monorail fleet expansion. Will scomieng win the legal suit against, Prasarana-govt. agency?

Posted by maan > 2016-06-13 09:28 | Report Abuse

http://www.thestar.com.my/business/business-news/2016/06/10/scomi-serves-rm365mil-payment-claims-on-prasarana-malaysia/

Posted by lian998 > 2016-06-21 23:29 | Report Abuse

近200亿美元债务！巴西史上最大破产案刚刚诞生. Any effects on the monorail project ?

Posted by yifie_911 > 2016-08-03 23:08 | Report Abuse

gone case...dun waste time and money on all scomi related stocks

Posted by ladahitam > 2016-09-02 09:28 | Report Abuse

should recover this week, chennai monrail to be awarded to scomi engineering JV

Posted by slyfox72 > 2016-11-13 14:02 | Report Abuse

meet Scomi Eng. CEO on *8 Dec 2016 Visit us at www.ukm.my/gsbukm/mtfglobalisation/

Posted by amyzo > 2017-01-23 13:24 | Report Abuse

volume mcm mau pecut ni?

Posted by Josephine Ong > 2017-02-07 16:39 | Report Abuse

next stop 0.50

Posted by Josephine Ong > 2017-02-08 16:20 | Report Abuse

next stop 0.50

Posted by nippy65 > 2017-02-10 09:21 | Report Abuse

I think the price will stay around this level for awhile . If there is a deal to sell a stake or the entire stake to China more room to move higher. As far back as 1 year plus, NTA was 0.80 plus. Surely is worth more than this level. Continue to keep pushing will only invite UMA which as this point is really unwarranted. As the share price moves higher the main beneficary would obviously be Scomi Group which NTA will pop up tremedously given their controlling stake in Scomien being around 73%. Yes, easy to push up Scomien price. Free float is considered small. My 2 cents view.

Posted by joni > 2017-03-06 14:55 | Report Abuse

its good Q3 profit ; half day volume v high, hope it close above 0.44 & further previous high 0.51

Posted by nudsladoraka > 2017-03-21 14:54 | Report Abuse

hope bursa to slap with UMA

Posted by longvalley > 2017-04-01 09:56 | Report Abuse

Dapat projek berjutajuta tapi berbagai masalah ....!!!! no confiden....tak perform.

Posted by starfish88 > 2017-05-19 14:58 | Report Abuse

why keep droping?

Posted by 雷汉勇 > 2017-05-30 22:03 | Report Abuse

Dropped again...

Posted by CaiShenYe > 2017-05-31 17:47 | Report Abuse

hello 15cent

Posted by chinaman > 2017-06-12 18:11 | Report Abuse

KUALA LUMPUR: Rapid Rail Sdn Bhd dan Scomi Engineering Berhad mengenal pasti 13 pengubahsuaian kritikal berkaitan keselamatan yang perlu dilakukan terhadap tren monorel 4 gerabak sebelum mengembalikannya untuk diservis.

Dalam kenyataan hari ini, Ketua Pegawai Eksekutif Rapid Rail, Datuk Zohari Sulaiman berkata, setakat 25 Mei lepas, Scomi mengenal pasti 26 pengubahsuaian yang perlu dibuat terhadap tren berkenaan.

Menurutnya, daripada jumlah itu, 13 pengubahsuaian adalah kritikal demi keselamatan dan perlu dilakukan sebelum tren berkenaan dikembalikan untuk diservis.

“Walaupun Scomi mengisytiharkan tren monorel 4 gerabak itu layak beroperasi, tetapi sebagai pengendali rel bandar yang bertanggungjawab, profesional dan berpengalaman, Rapid Rail tidak akan mendedahkan keselamatan orang ramai kepada sebarang risiko,” katanya.

Zohari berkata, Rapid Rail hanya akan menggunakan tren berkenaan setelah mendapat pengesahan Scomi.


Katanya, setelah jurutera Scomi mengesan kekurangan pada tren itu dan mencadangkan beberapa pengubahsuaian yang perlu dilakukan, ia tidak segera dilakukan dan ini meningkatkan risiko terhadap keselamatan penumpang.

“Perkara yang menjadi keutamaan segera Rapid Rail ialah memastikan Scomi yang memperakui pelbagai pengubahsuaian perlu dilakukan terhadap tren monorel 4 gerabak itu, melakukannya dengan segera dan teliti.

“Tiada pihak dan perkara lebih penting daripada keselamatan pelanggan kami dan orang ramai,” katanya.

Rapid mengeluarkan kenyataan itu sebagai respons terhadap laporan media yang memetik kenyataan Scomi tentang keadaan tren monorel dan kelayakannya untuk beroperasi.

Posted by gcke > 2017-07-25 16:57 | Report Abuse

Latest news update.Read -http://www.freemalaysiatoday.com/category/highlight/2017/07/25/can-scomi-engineering-keep-going/

Posted by nippy65 > 2017-07-26 07:42 | Report Abuse

In a very precarious situation .

Posted by Stanley See Swee Chuan > 2017-07-27 12:34 | Report Abuse

Rumour ijm or china company take over

Posted by Hebe Chua > 2017-07-27 12:38 | Report Abuse

Ya, I heard the same too..

Posted by Stanley See Swee Chuan > 2017-08-16 03:14 | Report Abuse

China company buy stake in scomien this few day..stay tune

Posted by Stanley See Swee Chuan > 2017-08-16 03:16 | Report Abuse

Will shoot up fast once announce..target price rm0.60

Posted by 雷汉勇 > 2017-08-17 09:19 | Report Abuse

wa, 得救了！！

Posted by 雷汉勇 > 2017-08-17 09:32 | Report Abuse

shoot!

Posted by SusuKacang > 2017-08-17 12:03 | Report Abuse

My luckiest ever thanks!

Posted by starfish88 > 2017-08-17 12:45 | Report Abuse

why suddenly up so much?