. Yes, in reading today news, much JV talks are on-going with China counterparts Hope Scomi will get the chance! Hold/buy lower for longer term while awaiting for possible good news.
All said and done, the coming quarterly result will speak for itself. I believe the numbers are going to remain rough. Scomi is not just Ophir alone. Other business segments can wipe out what Ophir can earn. Did we get to hear much of what is going on with the rest of their business ? A lot of negative news from Scomien were highlighted. No visibility going forward.
At an inaugural lecture held in honour of former premier Abdullah Ahmad Badawi, prime minister Najib Abdul Razak today credited his predecessor for unwavering loyalty to Umno and Barisan Nasional.
Najib during his speech at the event hosted by Pertubuhan Legasi Tun Abdullah Ahmad Badawi in Putrajaya, also took a subtle jab at those he said have betrayed Umno and the country.
"I would like to honour his loyalty all this while, no matter what happened, he continued to give full support and stood beside me, the government, Umno and BN.
"Not even once did he think of doing any actions to betray the party and the country, or go as far as leaving the party," he said, without mentioning any names...
SCOMI become salted fish since Pak Lah left politics last 10 years ago. when can we see scomi back to glory. we miss Pak Lah a lot as nicest PM we ever had
If it can minimize loss which is widely expected in oil& gas industry now, it's considered good. let's wait and see if IJM can do the miracle as what they did in IJM with amazing result. This time I'm sure Pak Lah counter already wake up. wa kaka
IJM is merely a passive investor in Scomi. Both are in total different industry. So, dont think IJM can help much in enhancing Scomi's revenue. It just does not connect.
if IJM management are proven genius and strong, any challenging industry also they can overcome. But, if the management is lousy, it will still mediocre result even during bullish economy. I'll say there is indeed improvement since IJM join in as strategic shareholder.
How many projects/jobs have been won and announced so far in the past 12 months ? Whatever job on hand, what is the depletion rate and in Ringgit terms how much is left to completion ? The group used to announce RM200 mil+ cash on hand, where does it stands now ? I wish someone can enlighten on this. Anyone ?
Last Qtr report shows cash level at myr142Million. Not sure about the job burning rate. But, look forward for Ophir marginal oil field prospect to kick start soon
Losses from qtr to qtr but narrow down. Sooner the cash pile will gone if this financial year still make losses which is likely based on qoq report. Better dumb the share now as heading to south
Given the share price inability to move even a bit to the north and more so cautiously and seemly edging marginally south for the past week, it does not auger well to show a pleasant set of quarterly numbers. I hope to be wronged.
KUALA LUMPUR: IJM Corp, Malaysia’s biggest builder by revenue, may spin off its infrastructure unit and sell some non-core assets as part of a plan to focus on growing its main revenue-generating businesses.
The company may also consider paring its 56% stake in IJM Plantations Bhd. through local or foreign partnerships that could contribute to a larger landbank for the unit, chief executive officer Datuk Soam Heng Choon said in an interview on Tuesday.
The move is also aimed at improving trading of IJM Plantations shares as liquidity is low, he said.
IJM’s non-core assets have a book value of more than RM600mil, Soam said. That includes a 24.5% stake in oil and gas services provider Scomi Group Bhd and a hotel in Selangor state, he said.
should sack all his lousy management & replace with talents. Kasi malu...myr100million loss per Qtr.Crazy loss...Shah Hakim with fat salary still there? in their dictionary, missing a word MALU
SCOMI just like other corporates such as PROTON,MAS and FVD (If you get what I mean). Investing in it is equivalent to buying yourself an expensive lesson
When you thought that all is well again between Pasaranan and Scomien, the 3rd supplementary contract is now bogged down with dispute. And going by the results, we may need till mid 2019 to see positive outcome. Even so, we need to see more jobs awarded which is totally unheard of for a long while. Ophir will only see oil in the final qtr of this year if indeed it gets black gold. Pray hope by then the Crude oil price is attractive. As long as other business sectors of the Scomi group are not performing, no matter how well Ophir delivered its results, the rest of the activities will drag the head below the water. Frabication yard in Rawang already sold. What next for sale ? On the issue of fund raising, pray hard it will not happen. Any call for rights or capital reduction will be a bad move in the eyes of investors.
To be fair, all O&G companies also got impairment loss on assets. This is one-off only. At this critical stage, there should be M&A to achieve economy of scale. But, somehow it happens very slow as lamented by PETRONAS chief. O&G industry is strategic importance to our nation in ensuring sustainable energy and low cost supply chain. Thus, govt. wont let this industry collapse and will do the necessary. if govt. do nothing, oil supply shock will cause inflation super high like what happen to Venezuela. many become beggars, prostitutes at street.
On the backdrop of woes Scomien is faced with couple with Scomies idling of marine vessel, low drilling activities and of replenishment of orderbook which appears to have been in slumberland, the situation looks grim. Considering the crude price going south, which I believe will remain low for a while, the 2nd half of the year even with Ophir coming on stream will not provide much cushion to address the stressful state of affair.
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....
Rohnn Kerlevsw
17 posts
Posted by Rohnn Kerlevsw > 2017-05-03 12:16 | Report Abuse
Still waiting