1. Scomi Marine will dispose its 100% equity interest in CH Logistics Ltd, CH Ship Management Pte Ltd, Goldship Pte Ltd and Sea Master Pte Ltd into PTRT. (Dispose for RM550 million)
2. Scomi Marine will own a stake of between 20.63% and 24.55% in PTRT. (Currently 80.54%)
3. Scomi Marine may consider giving out a special dividend and invest in new business opportunities, given that its rich cash, which translates to about 75 sen per share for the RM550 million cash. (Also, to consider CH Offshore sale, RM348.7 million cash, about 48 sen per share.)
4. Scomi Marine will realize a loss on disposal of about RM433 million. (estimated, 59 sen per share)
Now, the stock price stood at 41.5sen during session break. Attractive?
Update:
- It is known that RM100 million loss of disposal came from foreign exchange losses.
- Analyst targeted 76sen, plenty of room to move up :=)
Update:
- It is known that RM100 million loss of disposal came from foreign exchange losses.
- Analyst targeted 76sen, plenty of room to move up :=)
For speculation purpose only. They still owe a lot of debt and there are trades receivables. While debt collections is not effiecient. Shld be a sell to me at 55cent
ReplyDeleteare you saying about scomi group or scomi marine
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