Saturday, February 6, 2010

Scomi Marine disposed CH Offshore for S$143.5 million

Source: theedgemalaysia

Not a bad news. At least, there is no right issue.  Hope the management team spends the $$$ wisely.
Posted by at
Labels:

3 comments:

  1. ccdevFebruary 9, 2010 at 3:28 PM

    uncle, just recently came across your website. i follow for awhile. can u share why do u think the share price didnt move? and how come you say 'not bad news' rather than is good news, at least for their balance sheet. that's a lot to add to the cash balance, or can pare down 80% of their long term borrowings somemore. what am i missing here?

    ReplyDelete
  2. unclepicks@gmail.comFebruary 9, 2010 at 6:33 PM

    ccdev, I would prefer SCOMIMR to retain its CH Offshore, and contribute to the revenue and EPS, rather than one off gain, and use the $$$ for repaying loans or venturing into new business?

    ReplyDelete
  3. ccdevFebruary 9, 2010 at 11:34 PM

    hmm, that is logical. uncle i have to admit didnt look into the past accounts, just read that the CHOffshore is a profitable unit and very surface analysis. not sure about the future potential. and if selling the unit was not in the company's interest, the mkt didnt quite show it either. kinda like nuetral. thanks for reply.

    ReplyDelete

Subscribe to: Post Comments (Atom)