https://www.businesstimes.com.sg/compani...-a-refresh
Sembmarine' s board and management need a refresh
I refer to Ben Paul' s article titled " Sembmarine faces a tough week ahead" on Nov 1, 2021.
I am a long-time shareholder of Sembmarine, and I have watched with alarm and dismay the fall in its shares - some of which I bought at several dollars each.
Looking at the recent strong performance of Keppel O& M, I strongly believe a revitalisation of the board and management of Sembmarine is urgent and necessary. Some of the latter' s board members have been around for a long time.
Despite buoyant oil prices and 2 recent massive rights issues, there is still no light at the end of the tunnel. Without an infusion of fresh blood soon into the company, I am afraid it would end up like Neptune Orient Lines.
(08-11-2021, 03:19 PM)forum456 Wrote: [ -> ]https://www.businesstimes.com.sg/compani...-a-refresh
Sembmarine' s board and management need a refresh
I refer to Ben Paul' s article titled " Sembmarine faces a tough week ahead" on Nov 1, 2021.
I am a long-time shareholder of Sembmarine, and I have watched with alarm and dismay the fall in its shares - some of which I bought at several dollars each.
Looking at the recent strong performance of Keppel O& M, I strongly believe a revitalisation of the board and management of Sembmarine is urgent and necessary. Some of the latter' s board members have been around for a long time.
Despite buoyant oil prices and 2 recent massive rights issues, there is still no light at the end of the tunnel. Without an infusion of fresh blood soon into the company, I am afraid it would end up like Neptune Orient Lines.
You can CFCM here also no use. Just look at CHing Ching change her post from CEO to chairman you should know what is going on le
(08-11-2021, 03:19 PM)forum456 Wrote: [ -> ]https://www.businesstimes.com.sg/compani...-a-refresh
Sembmarine' s board and management need a refresh
I refer to Ben Paul' s article titled " Sembmarine faces a tough week ahead" on Nov 1, 2021.
I am a long-time shareholder of Sembmarine, and I have watched with alarm and dismay the fall in its shares - some of which I bought at several dollars each.
Looking at the recent strong performance of Keppel O& M, I strongly believe a revitalisation of the board and management of Sembmarine is urgent and necessary. Some of the latter' s board members have been around for a long time.
Despite buoyant oil prices and 2 recent massive rights issues, there is still no light at the end of the tunnel. Without an infusion of fresh blood soon into the company, I am afraid it would end up like Neptune Orient Lines.
It's doesn't make sense to compare SembCorp Marine and Keppel. Keppel is a property and fund management company with a sideline in offshore marine business, SembCorp Marine on the other hand is solely a marine / offshore business. If not for the property and fund management business which generates ALL the profits for Keppel for the past few years, it wouldn't have fared any better either.
Though I agree with Mr Koh Seow Leong's views that a lot of these GLCs have questionable board appointments, that's not the main reason for his predicament. The fact that he doesn't seem to be even aware of basic facts like the profit contribution driver of a share he claims to have owned many years (SembCorp Marine) and makes a rudimentary mistake of comparing it with another company in a different industry is illuminating.
Keppel O&M is like a subsidiary of a conglomerate that despite bleeding heavily can continue to implement whatever it wants because of other highly cash accretive businesses, SMM has only that one business and once the industry is down, it's pretty screwed through and through. Also both O&M and SMM are heavily impacted by the timing of their impairment charges, so it's not easy to compare quarter by quarter either.
Perhaps he should start to do homework and read up more on companies, industries and the financial markets in general before ploughing substantial amounts of his wealth into something which he doesn't know.