Showing posts with label scomi. Show all posts
Showing posts with label scomi. Show all posts
Friday, January 18, 2013
Hot Stock Scomi shares rise on possible vote for IJM entry
Hot Stock Scomi shares rise on possible vote for IJM entry
Business & Markets 2013
Written by Shalini Kumar of theedgemalaysia.com
Friday, 18 January 2013 12:49
KUALA LUMPUR (Jan 18): SCOMI GROUP BHD []’s shares rose in morning trade following a report that some shareholders could be voting for IJM Corp to come in as its biggest shareholder, having previously opposed the move.
Some previous reports indicated that Scomi’s major shareholders wereheaded for a split over IJM’s strategy to acquire a stake of around 25% in the group.
"This should be good news for the company. IJM is a good company even though it is not in the same line. It also means new funds will be coming into the company. I think the resolution should pass at the
meeting,” said Goh Kay Chong, a senior dealer at SJ Securities.
At 12.16pm, Scomi’s shares were trading at 37.5 sen, up half a sen or 1.4%, on 6.88 million shares done, after hitting the most active list. Earlier, it had hit a high of 38 sen.
Scomi’s extraordinary general meeting set for Jan 31 could see the sole resolution of issuing RM110 million worth of convertible redeemable secured bonds to IJM being passed.
IJM first surfaced as a stakeholder in Scomi in September 2012, when it subscribed for a private placement at 33 sen per share, or a total of RM33 million.
Scomi was in debt at the time, since its RM200 million debt papers had been downgraded after a delay in an asset sale in Nigeria that was supposed to have netted it RM57.6 million.
Sunday, June 15, 2008
Scomi Group and Scomi Marine
Scomi Group has 39 operating subsidiaries and 2 operaing associated companies, the main one being Scomi Oiltools Sdn Bhd(80.1%), Scomi Engineering Bhd(71.2%) , Scomi OilServe Sdh Bhd (60%) and Scomi Marine Bhd(42.7%).
For the past few years, it is making money. In the year 2005, it makes a net profit of RM 151.69 m, 2006 it makes 84.55 m and in the year 2007, it makes 257.13 m.
It is a very impressive company.
As to the share price, it has hit the low of 78 sen on Mar 17, 2008 and again hit the low of 0.765 on June 5, 2008.
On June 13, 2008, it closed at 0.80, possibility of climbing back to 1.17 in the short term and to 1.73 and 1.97 in the medium term when the market is hot.
Scomi Marine Bhd is currently involved in two main types of businessess, namely marine logistic services and offshore support services.
The company is in the blue all these years. In the year 2005, it makes 24.26 m, 2006 it earns 80.46 m and in the year 2007, it nets 54.33 m.
It dropped to 50 sen on Mar 18, 2008 and again to the same level on June 4, 2008.
It closed at 0.53 on June 13, 2008. Short term, it might rise to 0.96, medium term, it could rise to 1.07 and even 1.23 depending on the market condition.
For the past few years, it is making money. In the year 2005, it makes a net profit of RM 151.69 m, 2006 it makes 84.55 m and in the year 2007, it makes 257.13 m.
It is a very impressive company.
As to the share price, it has hit the low of 78 sen on Mar 17, 2008 and again hit the low of 0.765 on June 5, 2008.
On June 13, 2008, it closed at 0.80, possibility of climbing back to 1.17 in the short term and to 1.73 and 1.97 in the medium term when the market is hot.
Scomi Marine Bhd is currently involved in two main types of businessess, namely marine logistic services and offshore support services.
The company is in the blue all these years. In the year 2005, it makes 24.26 m, 2006 it earns 80.46 m and in the year 2007, it nets 54.33 m.
It dropped to 50 sen on Mar 18, 2008 and again to the same level on June 4, 2008.
It closed at 0.53 on June 13, 2008. Short term, it might rise to 0.96, medium term, it could rise to 1.07 and even 1.23 depending on the market condition.
Monday, February 25, 2008
Market on Feb 25
At noon, KLCI is up 1 point to 1370.48 with 193 gainers against 418 losers.
Gamuda drops further 44 sen to RM 3.48. The continued selling of Gamuda by the fund managers has affected the sentiment of the market. However, CPO went up RM 192 to RM 3895 and crude oil is priced at USD 99.56 per barrel.
Many stocks have actually come to the very bottom.
Gamuda drops further 44 sen to RM 3.48. The continued selling of Gamuda by the fund managers has affected the sentiment of the market. However, CPO went up RM 192 to RM 3895 and crude oil is priced at USD 99.56 per barrel.
Many stocks have actually come to the very bottom.
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