IJM got only 25%, nothing mush they can do. Got themselves in sticky company. Lets get new management team and turn around this company. sun99, nippy65,zebrapower, anyone???
Bottomline. The entire group must win contracts to increase the orderbook. Current jobs will eventually be depleted. Replenishment of orderbook appears very sluggish of late. Should this situation continues till the financial year end, deeper trouble prevails. IJM will not be able to do much as O&G and rail are not their line of expertise. Going forward, marine vessel services will hit hard. Today, vol for Scomi is merely a rollover for T4 position on 10/08/16. It will not last, if one deems that somthing is coming. Without more jobs coming in, any price movement north will not last and merely short term at best one week action and limited in price range. Unless announcement of securing a huge contract, then it would be a different case altogether. As of now, tough going as pointed out in the AR itself. Bear in mind, total borrowing, if I have not mistaken is very much above RM1b and this adds more pressure. For Scomi as a group, its performance is a function of succesfully securing as many jobs as possible (assuming profitable) like any other business if one is to do well. This is not happening at least not at the moment. Until it happens, then we can start talking about fundemental and ratios again. To buy or not to buy, that is the question and will remain as a question for those who have set sights on these companies.
What is happening to Scomi-Platinum Sdn Bhd, a Scomi ES and Graphene Nanochem JV located in Port Klang. Up and running procuction ? Aborted ? Under construction ? Answer, anyone ?
Scomien scored a 52-week low of 0.175. Scomies did touch intraday 52-week low of 0.185. Scomi maintain at 0.14 which is a 52-week low recorded before today.
LOL captain chang n his singaporean investors already gone de - looong time they oso got conned by ayatollah Shah - bushie was right when he said Ayatollah, Supreme Leader general Kim n Captain ??? kannot remember his name of Masterkill all r part of the Axis of evil :( tell me how many people invested or even punted on these 3 cos Scomi,KNM n Masterkill make $$$ Please dun wait for anymore goreng - no more free foods :( wok oso stolen long time de :(
yifie_911, if u dun mind, can u share with us at which point in time from my participation in this forum did I implicitly, explicitly or unequivocally recommended (which in your view I think) that Scomi is worth to invest ?
There you are. Scomies a new 52-weeks low at 0.165 with absence of buyers in queue. Does not smell good isn't it ? Wonder if i_invest, value_invest or winmal can shed some lights for us ? Anyone care to throw some numbers for next month quarterly results ?
UMW Oil & Gas Corporation Berhad (UMWOG), through its subsidiary, UMW Offshore Drilling Sdn Bhd, secured a contract to provide a jack-up drilling rig and services for the Ophir Field, located in Terengganu. UMWOG also confirmed that Ophir Production Sdn Bhd (OPSB), a joint venture owned by Australia-based Octanex Pte Ltd (50%), Scomi D&P Sdn Bhd and Vestigo Petroleum Sdn Bhd (20%), awarded them a letter of award for the service.
From the Statement of -> "Having said all that, Scomi expects its performance outlook to "remain challenging" for the rest of the financial year."
Meaning they going to continue burnt cash until further notices. Observed poor management especially on the Operation site, revenue has been dropped 56% but the operation cost almost still maintained at same spending level compared with 2015(Period of high revenue).
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....
Redz1
1,056 posts
Posted by Redz1 > 2016-08-15 11:58 | Report Abuse
IJM got only 25%, nothing mush they can do. Got themselves in sticky company. Lets get new management team and turn around this company. sun99, nippy65,zebrapower, anyone???