Posted by chinaman > 2017-08-18 12:05 | Report Abuse

SCOMI, SCOMIES, SCOMIEN NTA are ~ MYR0.30/ MYR0.32/ MYR0.60....so, we guess how much IJM will offer to us for each unit?

Posted by nippy65 > 2017-08-18 16:42 | Report Abuse

Chinaman, confirm IJM offering to buy them all up ?

Posted by chinaman > 2017-08-18 16:46 | Report Abuse

As per today's STAR news, its thru share swap...No cash involved. ex. consolidation, less shares circulated...only not sure about the values attached one each unit. let's wait and see for this good news...I strongly believe IJM- govt. linked co. can turnaround this paper toilet one day, wakaka

Posted by winmal > 2017-08-19 12:24 | Report Abuse

If it is share swap which it's is not fair to scomies shareholders. Now shareholders have to take more risk and hugh debts from engineering division. Currently scomies had 0.30 time gearing ratio. Once company Consolidation into one , impending casflow from Orphir oilfield will using to use to pare the debt for rail business instead of declare dividend to scomies shareholders. Ultimately scomies is a victim to this exercise for the sake of saving their scomi eng subsidiary !!!

Posted by freeman > 2017-08-19 13:06 | Report Abuse

Buy star newspaper today.. quite comprehensive about the consolidation

Posted by freeman > 2017-08-19 14:05 | Report Abuse

Good for them..
Not good for shareholders of scomies
While we are waiting for cash flow from ophir
They systematically pressing down the price
By write off huge losses in last qr to paint bad news
N continues pressing the price
Just for them to buy back at low price
Fyi the will offer just 20 % premium from last traded price..
That will be around 15 cents + some warrant
At my average of 19 cents that will be huge losses for me

Posted by winmal > 2017-08-19 14:27 | Report Abuse

Orphir oilfield will have first oil soon & wold oil price is gradually recover. Cash flow from Orphir will fund the group for other investment & debt for scomi eng

Posted by winmal > 2017-08-19 14:30 | Report Abuse

Sacrifice scomies shareholders, struggling during low oil price & big loses whose bought this stock at higher price. The offers might be lower than current NTA

Posted by snwong13 > 2017-08-19 14:44 | Report Abuse

.
"Scomi Group will offer shareholders of Scomi Engineering and Scomi Energy a premium that is more than 20% over the last traded prices of these two companies.

The consolidation exercise will see shareholders of Scomi Engineering and Scomi Energy receiving a small number of warrants, but the bulk will be for shareholders of Scomi Group, where the free warrants will be a sweetener that can add to potential future returns should the consolidation exercise pay of"

Read more at http://www.thestar.com.my/business/business-news/2017/08/19/scomi-to-build-shareholder-value/#pDZSDjzZPEhFawwT.99

Posted by winmal > 2017-08-19 17:24 | Report Abuse

What so special with 20% premium more offer,once should ask are whether shareholders wish to take up this offer price, which share price is 30-40% from history low price. If shareholders whose bought more 0.75. Struggling during 3 years during low oil price. Soon first oil from Orphir oilfield, cash flow generated to settled other business debts in group through this exercise. Timely & wisely decision taken by scomi group without take care stories minority shareholders interest as priority.

Posted by freeman > 2017-08-19 17:49 | Report Abuse

At what "last traded price" will be for 20% premium offer?
Is it the price on thursday 17aug? this counter will continue trading on tuesday 22nd, so at what price will be?
Someone can clarify?

Posted by winmal > 2017-08-19 18:35 | Report Abuse

After 20% premium is 0.16 -0.17, NTA 0.33. Oil around USD100 in Year 2014 peak 1.20 & history low at 0.11. 95% from peak

Posted by winmal > 2017-08-19 18:37 | Report Abuse

Only those whose bought in few months could make money.

Posted by winmal > 2017-08-19 18:42 | Report Abuse

Public advocate that" scomi build shareholders value "just for scomi group & Engineering NOTscomies shareholders value

Posted by freeman > 2017-08-19 18:51 | Report Abuse

Thanks

Posted by Sneakpeek > 2017-08-19 18:54 | Report Abuse

I believe the last traded price will be 0.13 as they will formally announce the consolidation plan on monday 21/8.

Posted by chinaman > 2017-08-19 19:26 | Report Abuse

Whenever one have stake in all units, so it becomes a catch-22 situation to accept or decline the offer. scomies holders who feel short-changed can vote down this consolidation for sure

Posted by winmal > 2017-08-19 20:52 | Report Abuse

If scomi got side deal with other shareholders to get above 75% the exercise to consolidate will passed. As scomi holds 62% just needs other shareholders to make up of 13%.

Posted by freeman > 2017-08-19 21:32 | Report Abuse

I will surely vote againts
I have 1.3mil units
This kind of resolution need 75% of member agreed?

Posted by Sneakpeek > 2017-08-19 22:08 | Report Abuse

Just need 13% for approvaI..sure a lot of 0.11 buyer wanna letgo at 0.16 if true. Mine 500k @0.14..bought last month

Posted by longvalley > 2017-08-19 22:08 | Report Abuse

Waiting the next........!!

Posted by winmal > 2017-08-19 22:43 | Report Abuse

Coming Monday 21 Aug is AGM for Scomies. Shah Hakim might announced something behind the consolidation & how Scomies shareholdres will benefit from the exercise. See how his convince Scomies shareholders

Posted by longvalley > 2017-08-20 00:17 | Report Abuse

Hopefully..........!!!

Posted by Sneakpeek > 2017-08-20 12:54 | Report Abuse

If the 20% quantum passed, then those bought > $0.16 gonna incur huge losses.

Posted by hollandking > 2017-08-20 13:42 | Report Abuse

hi, not 20% discount,they gonna give a 20% premium, meaning valuate 20% higher than what it share price is.

Posted by freeman > 2017-08-20 13:43 | Report Abuse

No fair for scomies shareholders to be offerred the same quantum as scomien shareholders.. management should take into acct nta+future cash flow of scomies.. surely scomies in better state, even scomies will be used to laverage business of scomien

Posted by hollandking > 2017-08-20 13:44 | Report Abuse

oic, i misunderstood, you saying +20% of 0.13 is 0.156. sorry bou dat

Posted by hollandking > 2017-08-20 13:45 | Report Abuse

if u want play, this one for speculate only, but not long term, sure go down one

Posted by freeman > 2017-08-21 13:11 | Report Abuse

Updates from AGM

1.bod of scomies have not receive any proposal from SGB regarding consolidation, BOD refuse to comment further regarding the matter. Thus trading as usual tomorrow
2. Marine business in indonesia in good shape with around 79% utilization rate
3. First flow of oil from ophir is expected to be in end sept.
The result would depend on rate of oil flow from the rig.
Scomies expects to receive around 130mil usd profit from ophir in 3 years.
4. If u notice from financial statement the gp and cash flow pf scomies are +, the only culprit is one off impairment of assets i.e 4 osv vessel that remain idle out of 5. Positive thing is that these vessel are not under financing or leasing but wholly owned
5. Chemical / oil gas business business activity -the industry now moving into/ focusing on land rigs over open sea rigs. With regard of griwing shale oil rigs from US. Scomies planning to enter the US market in the near term.
6. Scomies itself, irrelevant of Sgb or seb. With low gearing, positive operating cash flow, positive gross profit. There is no going concern issue. Scomies can go through this slow time of ong business.

Continue to hold
Accumulate some more at lower price

Posted by Sneakpeek > 2017-08-21 15:03 | Report Abuse

No proposal but trading suspended

Posted by longvalley > 2017-08-21 17:34 | Report Abuse

See......u 2 moro..........

Posted by Daniel Lau > 2017-08-21 17:38 | Report Abuse

So the 20% premium is dont have one

Posted by freeman > 2017-08-21 18:43 | Report Abuse

We dont have the info.. only they know

Posted by Kfai > 2017-08-21 18:58 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5519917

Posted by Kfai > 2017-08-21 19:04 | Report Abuse

they approved what??

Posted by freeman > 2017-08-21 21:20 | Report Abuse

Just download the announcement

Posted by Sneakpeek > 2017-08-21 21:23 | Report Abuse

https://asia.nikkei.com/Markets/Nikkei-Markets/Malaysia-s-Scomi-Group-To-Delist-Unit-Scomi-Energy-Services-Scomi-Engineering-CEO

Posted by Sneakpeek > 2017-08-21 21:24 | Report Abuse

How come BOD say no consolidation bu CEO in PC give different statment?

Posted by Sneakpeek > 2017-08-22 07:27 | Report Abuse

2 Scomi share merge into 1 , SESB shareholder will get 3 new Scomi share for every 5 shares held.
So based on last traded price of 11.5 cent for SGH & 13cent for SESB and my 500k units :
300k @ 23 sen new SGH = $69k
vs
500k @ 13cents SESB = $65k..

So where did that > 20% premium comes from?

Posted by Joon Khong Chang > 2017-08-22 09:08 | Report Abuse

Still suspended

Posted by freeman > 2017-08-22 10:33 | Report Abuse

so the news is conflicting if u compare the monday statement with saturday biznews of Star..
we could say tt the have not finalized yet
trading will resume on 2.30pm

Posted by freeman > 2017-08-22 11:00 | Report Abuse

On saturday they say about share buy back = 20% premium
on monday statement they say about share swap

Posted by freeman > 2017-08-22 16:12 | Report Abuse

DEM

Posted by freeman > 2017-08-22 16:44 | Report Abuse

http://www.klsescreener.com/v2/news/view/271291

based on this star news, the term is in favor of SGB while at at the expense of SESB & SEB
at what reflected in market

confusing is,, how come this newspaper giving different facts with regards to this consolidation in short period of time.. on saturday news and monday

Posted by snwong13 > 2017-08-22 17:59 | Report Abuse

.
http://www.thestar.com.my/business/business-news/2017/08/22/scomi-group-shareholders-to-benefit-from-merger/

Posted by snwong13 > 2017-08-22 19:31 | Report Abuse

.
Let the market forces to decide both price SG/SESB...
Bounced to have some dilution effects either ways!

"For every five shares held by SESB shareholders, they will receive three new Scomi Group shares.

Additionally, one Scomi Group warrant will be issued for every nine new Scomi Group shares issued to SESB shareholders for a total consideration of RM107.84mil, implying an offer price of 13.4 sen per SESB share..."

Posted by freeman > 2017-08-23 09:23 | Report Abuse

i hope this deal will not go through

Posted by winmal > 2017-08-23 12:05 | Report Abuse

Please vote against the exercise, the consolidation didnt bring any benefit to Scomies Shareholders

Posted by longvalley > 2017-08-23 16:01 | Report Abuse

Octanex so in problem....ophir project likes fail....tht y........!!!!?

Posted by freeman > 2017-08-24 00:06 | Report Abuse

What is yr reference that octanex fail?
The rig alr3ady complete
Now going for drilling phases