Read? Sembmarine to raise S$2.1b, demerge from parent Sembcorp
Dividend in specie?
Good or bad?
Uncle8888's data points in dividends in specie from Keppel Corp.
Keppel Corp may be playing the game again when Temasek takes over control of Keppel and inject Keppel's O&G into SML and distribute SML share as dividend in specie.
He is looking forward to Sembcorp Ind distribution of dividend in specie for SML. :-)
Posts
It is not up to Temasek to decide to inject KepOM into SCM, because of the anti-competition laws. HHI DSME deal drag for more than 1 year and still received EU and many countries disapproval. KepOM and SCM combined monopolise rig building, US and EU will not easily approve.
ReplyDeleteOnce Temasek takes control of both keppel and sml, probably fake competition in oil rig market by these two largest suppliers. What US and EU do?
DeleteThe clients of Keppel and SCM are mostly in EU and US. Do you think they will easily agree?
DeletePlease google Hyundai and DSME merger in Korea.... you will know more...
DeleteTo be honest, today without the merger, Temasek already have full say in both companies. I see Temasek taking both companies private eventually and trim down business rather than merger.
DeleteFake competition meaning ok, this project Kep take, that project SCM take. You think today it never happen meh? need to wait until Temasek official shareholders meh?
Even if it happens both companies cannot make money. Bcos of other issues such as losing of know how, poor costing, poorer execution, more red tape in the company than before....
And also Clients who are in EU and US can go to Korea or China if they can sense that KOM and SCM fake competitions...
I m not being arrogant, but just want to speak the truth bcos investor only can see the smaller picture as they do not see outside Sg and always think Temasek is king!
Yes Temaasek is king only in Sg. In overseas, they still kowtow to many other countries like our government do!
May be job lost by Singaporean from NOL was not too significant. Govt can let it go
ReplyDeleteThe future for O&M manufacturing business is very bleak in Sg. While the world still requires offshore vessels but demand has been slowing down. Had many discussion with Keppel guys recently . Even many yards in China including Kep China are getting more and more costly with less and less talents being attracted into the industry. It is a problem.
ReplyDeletePerhaps oil exploration is going to decline as we see more renewable Windfarms, and electric cars etc gradually.
While you still requires construction for Windfarm vessels but it is less capacity compared to Oil Rigs or Offshore vessels.
Actually Kep already no longer own some of the yards they have. They had sold it and lease it back.
Hence, KOM or SCM following NOL is not surprising, although many other situations can happen also.
Actually I heard direct horse mouths the workers in KoM and SCM is already cut to minimum now. Many foreigners and PR also already left and went back home.
So they are working with a minimum workforce now.
If less Singaporean jobs are affected; KOM and SCM can follow NOL way. No political price to be paid by MIW
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