Amedeo Res Share Discussion Threads

[papillon] 29/3/2018 21:53

Tell me, howdlep. DaveTheChef & Chinese Investor, if the propects for AMED are, in your opinions, so great, why is the current Market Cap just £3.18m? Is it because, unlike you 3, most investors are stupid?

[davethechef] 25/3/2018 20:14

LNG-Marine Fuel of the Future
hxxps://worldmaritimenews.com/archives/247762/what-will-be-the-marine-fuel-of-the-future/

[davethechef] 25/3/2018 19:52

I came across this recent article, could be very significant for our offshore yard sometime in the future. Our JV partner YZJ's Chairman Ren Yuanlin & CFO Liu Hua give insight on developing tie-ups & LNG fuel stations (which I believe will involve our offshore yard) It's been mentioned before in previous years by the Chairman, Clean Energy Vessels/LNG will be part of our offshore yard's future but this article, dated earlier this month, gives the greatest detail & would appear to be only a matter of time. From the below link, it states 'We are looking into investing in LNG fuel stations along the shorelines of our shipyards as demand for LNG is becoming more widespread. With the rising importance of environmental protection, there is a huge demand for infrastructure in the resource sector. Our shipbuilding value chain is a huge platform for such opportunistic ventures'. Plus they mention 'We are in talks with foreign players with advanced technology to possibly collaborate in high-end LNG carrier vessels. It will be difficult for the Group to maintain high margins if we build only containerships and bulk carriers'.

hxxps://www.nextinsight.biz/story-archive-mainmenu-60/940-2018/12056-yangzijiang-fy2017-net-profit-surges-67-to-rmb2-9b-cautions-on-risk-of-margin-erosion

[chinese investor] 23/3/2018 15:16

Thank you Dave for pointing that out to me .

[davethechef] 23/3/2018 09:00

W H Ireland has taken over as sole broker. Try reading the recent RNS Chinese Investor!

[chinese investor] 23/3/2018 07:53

No Broker Yet !

[leetomma] 22/3/2018 15:10

When's the next update due! Only way we'll get a peep out of this BoD

[davethechef] 14/3/2018 15:47

More latest news on Singapore's Maritime industry's future
hxxp://splash247.com/singapores-innovation-drive/

[davethechef] 07/3/2018 20:59

This news today, looks positive & encouraging for our overall area's future growth
hxxps://worldmaritimenews.com/archives/246683/singapore-invests-more-in-future-maritime-industry/

[howdlep] 02/3/2018 17:06

It could make a difference to share prices for some stocks, as Beaufort were allegedly forward selling for clients/themselves who took part in placings. How true that is I do no know, but expect some stocks to bounce over the next few days.

[davethechef] 02/3/2018 14:57

News. W H Ireland to take on as sole brokers. Beaufort Securities no longer. Should make no difference.

[howdlep] 02/3/2018 07:43

zipster2411 Mar '18 - 23:01 - 783 of 783

problem here is that the BOD don't have a clue what they are doing.

Also, this jack up rig is already old and decaying in the salt water, 10% of design life has passed and AMED have not even had the decency to inform shareholders that the purchase order was cancelled.
Surely that is price sensitive information and they were duty bound to inform the market that the customer no longer exists. Further to this, they should have also stated weather or not any stage payments were received. It looks to me as if they have received no payment whatsoever. in this case, the rig will be sold with a deep discount, it was built to another clients specification and whoever buys it will insist on a wide range of changes.

-----------

Clearly a person who has more knowledge than the BOD. So please provide the evidence that:-

1) the rig is decaying in salt water
2) YZJ have built the rig to specification, without any terms and conditions.
3) assets shouldn't depreciate in accordance with standard accounting rules.
4) client confidentiality should not apply to YZJ.
5) the rig will be sold with a deep discount, given that you have analysed the rigs specification.
6) the jv hasn't received any money to date and will not in accordance with the terms and conditions of the order. If this is the case, however, why Yangzijiang have booked revenue for both 2014 and 2015.
7) any sale will include wide range of changes to the completed rig.

As for the company not informing the market that the customer no longer exists, I refer you to previous RNS' where it says that if the client cannot raise the finance, the rig will be sold to other third parties.

I look forward to you supplying this information to those of us who are shareholders. I personally will pass on your thoughts to the BOD, together with your name and address. Thank you for your considered thoughts. As shareholders, we appreciate them.

[zipster241] 01/3/2018 23:01

problem here is that the BOD don't have a clue what they are doing.

Also, this jack up rig is already old and decaying in the salt water, 10% of design life has passed and AMED have not even had the decency to inform shareholders that the purchase order was cancelled.
Surely that is price sensitive information and they were duty bound to inform the market that the customer no longer exists. Further to this, they should have also stated weather or not any stage payments were received. It looks to me as if they have received no payment whatsoever. in this case, the rig will be sold with a deep discount, it was built to another clients specification and whoever buys it will insist on a wide range of changes.

[howdlep] 01/3/2018 12:57

Take a look at page 16 of the Q4 report:-



This shows the revenue trend from 2012-17. Interestingly, jack-up revenue is detailed as follows:-

(RMB Millions)

FY2014 - 642
FY2015 - 215

Note, this will be the revenue attributable to Yangzijiang. AMED have a 19% interest in the jv, as we know.

So if part/all of the physical build costs have already been paid, as one would expect, it places the jv in a strong position when the rig is finally sold. Indeed, if you take Keppel as an example, where they have resold ships/rigs, the total revenue derived from upfront payments plus a resale to a third party, is sometimes greater than the original order value.

But let's wait for the detail in the Finals. I suspect negotiations are ongoing.

As for today's sales, I note the 31k sale was a purchase from the 27/2.

[knicol46] 01/3/2018 11:06

They more than likely have potential buyers for the rig - just holding out for best price..

'Out of the 9 terminated contracts, 6 of them had been constructed, the Group had secured new buyers for the 5 commercial vessels, and is actively seeking the best resale price for the jack-up rig.'

[babbler] 01/3/2018 07:01

Guess bottom drawer it is then...with the others....

[knicol46] 28/2/2018 23:13

Jack up rig.. 31 Dec 2017 update..

As a result of terminations of shipbuilding contracts during the year including the group’s construction contract of the jack up drilling rig, inventory at the end of FY2017 increased to RMB2,628 million from RMB2,032 million at end of last year. The group had found new buyers for all of the terminated commercial vessels except for the jack up drilling rig, and is actively seeking for potential buyers for the jack up rig.

[knicol46] 28/2/2018 16:20

'As at 31 December 2017, with an outstanding order book of USD4.7 billion for 123 vessels, Yangzijiang was ranked no.1 in China and no. 3 in the world3. This is the confirmed order book excluding the occasional order terminations during the year. The contracts for nine vessels were terminated in 2017, and the Group will recognise down payments from those terminated contract according to its accounting policy. Out of these nine contracts, six have been constructed (five commercial vessels and one jack-up rig), and the Group has found new buyers for all the five commercial vessels.'

further 2 months have elapsed since results date.

[knicol46] 28/2/2018 15:09

YZJ results out..
hxxps://www.theedgesingapore.com/yangzijiang-shipbuilding-posts-121-rise-4q-earnings-1417-mil

[knicol46] 28/2/2018 11:04

YZJ news..
hxxp://www.businesstimes.com.sg/companies-markets/yzj-forks-out-700m-yuan-for-equity-in-suzhou-registered-investment-firm

hxxps://www.theedgesingapore.com/yangzijiang-acquires-5-stake-china-equity-fund-and-bonds-firm-146-mil

[davethechef] 28/2/2018 09:08

Could've bought 14.50p briefly as one took advantage. Now 15.22p. Selling price in real terms still 13.75p. Could be an interesting day again. Moves on virtually every trade!