Anyone know if the plant in Rawang where fabrication and assembly of the monorail trains is still up and running ? If the plant is shut down, where is Scomi Engineering doing all the work to fulfill the recent agreement with Pasaranan ? Hope someone can shed some light on this.

This is bad, shares shrinkage for the 2nd time and got to dump in more money to keep the company afloat. Those who bought few years back, the investment cost will rocket.

MAA is a case of got money no core business. is different kind of PN17.

i_investor, today is 26/04/19. 31/12/2018 which is supposed to start commercial production at the Large Scale Solar Plant in the statement from Scomi. So, is the Solar Plant project terminated, work-in-progress, delayed for whatever reason or already in commercial operation ? Where is the official announcement from Scomi/TNB to put the matter to a comfimation ? Would appreciate one more round of your homework to enlighten not only me but many Scomi followers out there as well. Thanking you in advance.

i_investor, was there any anouncement made by the Company that the Large Scale Solar Plant has commenced commercial operation on 31/12/18 ? I did not hear or see any news on its timeline progress since the announcement in the Star 2017. Surely, an announcement has to be made on the progress, be it delayed, terminated or commercial generation has started.

Since not lifted for trading , another announcement likely to follow.

It all depends on how the debt restructing and updating report goes by next Monday and the loads of outstandning problem with monorail in Mumbai, India and Sao Paulo, Brazil. Not out ofthe woods yet. Nonetheless , a positive start and some breathing space if and only if the contract win with RapidKL is substantial.

Scomi should see double digits price soon once suspension lifted.

Johhny1123, I don't think it is in the interest of the managment to have the price go up at this juncture even if it is undervalued or additional contract win. As long as the loan default by Scomi with Maybank is not settled it would be in the interest to keep the price of Scomies low. Scomi was able to extend till 08/04/19 to deal with the loan default matter. Remember, failing to reach some agreement on the loan issue to the "advantage" of Scomi by the aforesaid date, Maybank has the right to sell Scomies shares placed as collateral. Surely, at the moment it only make sense to keep Scomies price low. What do you think ? If a settlement is reached and acceptable to Scomi, Scomies price will jump. As to how much, I do not know.

jackma, in the company webpage , no mention that the PV plant was signed on memorandom basis. Is the cancellation publised ? On the other hand, should the PV plant be up and running as said, they would proudly rush to announce it or its progress. Very very bleak.

Error. Should be " ..... commercial operation on 31st December 2018. " So, some source of revenue coming ?

Strong Elegance S/B, which Scomi has a 30% stake has signed a power purchase agreement with TNB to undertake and develop a 30MW solar PV plant in Sg Pertani to commence commercial operation on 31st December 2019. Anyone any idea if this is materialising ?

Mumbai Metropolitan Region Development Authority decided no more Made In Malaysia train for Mumbai monorail.

Company proposes capital reduction of RM440 million. This is really shit house.

The quarterly result end ofvthis month is going to be very bloody.

From the Mumbai Mirror eEdition dated 4th Aug 2018. MMRDA goes back to Malaysia-based firm Scomi, which launched monorail in Mumbai, after other companies quote amounts two to six times the budget allocated to run the network to resume 1st Sept. How much and the scope of work Scomi is getting out of the O&M service is not mentioned. Running with the 6 rakes available and lacking in parts as previously published, one wonders if this is a risky undertaking that can throw a spanner into the works for unforseen breakdown and scheduled maintenance. .AGM is coming this month. I hope concerned shareholders will posted plentiful of questions for clearer direction of the company in regards to 1) drilling fluid and its current relationship with Nanochem which is currently suspended in the AIMS mkt, UK. 2) waste management. 3) sales of asset, offshore vessel. 4) Renewable Energy venture, hydro and wind. 5) marine services 6) status on compensation for the OPHIR debacle. Is Sammy Tse the Midas touch that will make the difference to turn the corner ? is a very winding road to traverse. Every corner it takes is sharp.

Reported on 20th July, Mumbai Metropolitan Region Development Authority has agreed to pay a higher per trip cost to Larsen & Toubro - Scomi Engineering for the running service of the monorail from Oct and negotiation are on for a final figure. It covers almost 20 km, Chembur-Wadala-Jacob Circle corridor. Is this the silver lining for things to turn around ? Is this the reason why Friday's vol picked up ? Can Scomi fulfill their part to refurbish and deliver the balance trains ? Anyone has got the latest status onthe Sao Paulo monorail ? What about the solar power distribution,30 MW renewable energy project in Kedah to be commissioned in December 2018, any latest news ?

JaJa, Octanex in talks to exit Ophir is for sure spell disaster for Scomi. If Octanex can be compensated, can Scomi bailout themselves wiih compensation too ?

If what is said about Ophir having halted production since Jan and reported that more gas is extracted than crude, come the next qtr result in May is going to be a very painful one. Why selling treasury shares ? Cash flow issue ?

Oil and gas is hot. No doubt at all. At the end, what is the size of Scomi and Scomies order book. What is their replenishment rate ? Anything to shout at going forward ? Unless a major contract win and I mean major. At the current state of things, is worrisome.

Something is not right with Scomies.

JaJa, would new CEO make a difference, afterall he was there with the Company a long long while ago.

4 days including today, the vol is "big". Can the current price holds or shaves down further ?

Scomien will hit them hard. A tie-up with China on monorail, if materialise would be a breather. Will it happened ?

Basically the group needs win jobs and more jobs. Period.

All the 3 divisions , oilfield services, transport solution and marine sunk into the red.

Tomorrow T4 high vol as well. Is it going to be blood bath ?.

Very heavy losses.

The current share price is tell-tale sign of what is to come when the qtr result is announced this evening.

If the qty result is expected to be at least favourable, the share price should not remain at this level.

Everything hinges on the coming qtr results and comments from the Company. As usual, tagline announcement to follow is, bidding for billions and billions jobs just like previous qtrs before this. Or, close to finalising monorail collabotration with interested party China. At the end, no hear of any winnings for a long long while to replenish the depleting orderbook. The vol on Friday is more of anticipation and release of qtr result.

Only one word Jala7777, "diecy"

So, the equity restructuring is capital reduction or capital consolidation ? As long as there are no positive visibilty in revenue, earnings, announcement of job awards, outstanding order book and status on the legal issues on the monorail projects , the going is very tough. What is there on the table for us to see clearly ? EPS, P/E and ROE all in negative territories. What more when gearing is also high. Quarterly result this month end can spell more pressure. Hope to be wronged.

Scomies 30% stake in the Ophir field is only as a service provider and operator of the offshore platform. The resources extracted belongs to Petronas. Even if crude is US100 , all the gains is non of Scomies business. More importantly, is being a service provider and operator a lucrative business ? If so, why did SapuraEnergy gave up their RSC ?

With the additional shares swap from Scomien couple with the turmoil and nervousness in world maket and absence of new jobs, more pressure will be on the share price which prehaps can go below 0.20. As good as capital reduction.

With the current state of affairs Scomien is confronted with, I do not see how it can contribute positively to Scomi Group Bhd, at least not at the moment. A daunting journey.

freeman, would all the earnings from OPHIR be wiped out by OSV, marine transport, drilling , waste management and drilling chemical divisions ?

JaJa7777, you summarised it spot on.

Without much information to go by, Scomien isfor sure going to impact Scomi Group Bhd negatively unless new job announcement which is not likely to happen. Without new jobs, jobs and jobs, is doomed and gloomed. .

Come month end, the quarterly result will speak for itself. Remain pathetic ? I think is going to be a long and winding road.

DrMario, we will have to pray very hard for 0.50. Firstly, there is a need for some fundamental improvement in the business, revenue and earnings visibility as catalyst to trigger such uptrend. You see any silver lining ?

Come 13th Feb, the share swap and bonus warrant will take effect resulting in more Scomi shares in the market. Can the current share price at 0.26 holds by then ? I think is more of a case of downward price pressure. Hope to be wronged. As I said earlier, a closer resemblance to a capital reduction than consolidation. .

WallStBull, in the offshoreenergytoday, the name Ophir mentioned in it that of Ophir Production Sdn Bhd ? May not be the same.

Now that the equity restructuring is over, the group has to move on looking forward to some good news for shareholders. However for a start , the latest news on Scomi Engineering with respect to development in India on their monorail participation is absolutely very depressing. And the share prices are showing the effect.

Mumbai Metropolitant Reagon Development Authority has said it has made Scomi Engineering 'ineligible' from bidding for the operations of Chembur-Jacob Circle Metropolitant corridor. ...... The reason, Scomi has not maintained Mumbai Monorail in a satisfactory manner and we are not willing to have Scomi onboard for Monorail in future.

The above extracted from Dnaindia Mumbai Monorail. So, what is the future for Scomi Engineering and Scomi Group ? And what is the status in Brazil line 17 ? Going concern issue will resurface ? Reputation at stack ? What can Scomi offer to shareholders in terms of contracts award going forward ? How many contracts have they won in the past one year ?

As I have said before, going forward what has the group to offer in terms of earnings visiblity, wining contracts and clarity into the messy legal issues in Mumbai and with Pasarana. Ophir profitibilty alone cannot be compromised or bailout for othes loss making sectors like the marine business. Still, we have yet to see Ophir performance, maybe next month. The direction is somewhat blur. A lot of, we tender for this and that in the millions and billions. Todate nothing has come out of it for a long long while. In turn, confidence is an issue with this counter. ..

At the rate it is going, it looks more like a capital reduction rather than consolidation. Full of crap.

IkanBawang, I think at best 0.18 - 0.20. I hope to be wronged.

Scomi will be pushed higher to make it attractive for Scomies and Scomien shareholders to accept swap. After the exercise, is another story altogether.

Judgement day today. From the look of the share prices for all 3 counters, is going to be pathethic.