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Share Name Share Symbol Market Type Share ISIN Share Description
SRT Marine Systems LSE:SRT London Ordinary Share GB00B0M8KM36 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.25p +0.70% 35.75p 35.00p 36.50p 36.00p 35.50p 35.50p 259,136 12:39:57
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 5.3 -5.2 -4.1 - 49.98

SRT Marine Sys Share Discussion Threads

Showing 23626 to 23650 of 23650 messages
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DateSubjectAuthorDiscuss
22/1/2019
14:37
I don't think there is any advance payment on the Philo contract. Crystball's references are just the standard Philippino tender terms for 'if...' - doesn't mean that there are any. What to look at is the payments schedule on p. 64 which has 50mn pesos (£730k) to be paid last year, 673mn (£9.85) this year, 1,114mn (£16.31) next year, all calendar years. The expected payments are after all their paperwork has been done plus 60 days, whereas SRT will be booking it as done and invoiced - these invoices can be sold onto the Singaporean banks. In terms of revenues, as I said in a previous post, the £8 million from last year and maybe a bit more to be booked this FY and paid this calendar year, the bulk of the rest next FY and paid in 2020. They will probably be cautious with next year's forecast but from what I can understand the M/E projects, although not yet signed as such, are likely to be compressed in terms of delivery, which would mean higher near-term revenues but more headaches delivering them at the quicker rhythm.
lavalmy
21/1/2019
22:04
crystball, good point. $5.85m would come in very handy. Assuming that is correct then no wonder ST seemed so relaxed in the webcast. Countryman5, ST in the webcast said broker's update would be sometime in February, so I would not expect it to be this month. News could come at any point of course. I am expecting two further contract wins to be announced before the end of Feb. As LaValmy says, presumably Kuwait and Bahrain but I do not rule out Saudi Arabia or some other contract discussions getting fast-tracked to speedier conclusion than expected.
yumyum
21/1/2019
21:49
There is an expectation that there will be a brokers note in the next few days/ weeks. As LAV says the important numbers will relate to the next financial year. We can assume that both the company and the broker will want to be conservative with the option of upgrading if and when revenues exceed forecast. If you listen to the recent webcast you could believe that revenues might be running at £60 million PA for the next few years. At present there are no institutions with a declared interest in SRT but the broker's note has the potential to stimulate serious interest however, there are very few shares available to be bought.
countryman5
21/1/2019
17:58
I thought with the revised Philo project that there was to be a payment of 15% of the value of the contract on signing, paid just like the original contract? I asked Simon this question at the AGM during the meeting and got an affirmative nod in his reply. See section 11 and pages 51,52 of this document....... hTTps://www.bfar.da.gov.ph/files/img/photos/2018-19BidDocumentsIMEMSoct9.pdf
crystball
21/1/2019
17:57
LAV. I would suggest that £35 million T/O will be conservative but under predicting has to be the order of the day, based on previous experience. I note nothing in your crystal ball for Saudi. If the forecast is for £35 million T/O, allow £15 million for overheads (including interest on short term loans) and 45% gross margin, might suggest PBT of £9 million. Tax losses C/F., suggest market cap of ????
countryman5
21/1/2019
15:22
Fred You're right about the Indonesian kit being repurposed. I don't think SRT will supply them until they have a contract signed and the relevant contractual payment made (like they didn't last time). They will be no confirmation of any payments on the Philo contract and payments are completely separate from revenue recognition. A case in point is Kuwait where some £4 million has already been recognised, in 16/17, and not a penny received. The thing to look out for is not this year's forecast being met (which it should be), but next year's being increased by a lot. I expect Kuwait with the transponders (£8mn depending on what they decide), Bahrain (US$25 million - 18 months), the bulk of the rest of the Philo (£10-15mn), as well as an increasing amount of day-to-day business to which will be added the USCG and JRC contracts. All that lot will feed into the new forecast. Other future contracts will get a mention in the narrative, but with Kuwait and Bahrain being signed and getting into the numbers, you could be looking at £35mn as a forecast at the end of February.
lavalmy
21/1/2019
13:55
I have a vague recollection from the AGM tour of a packing case of gear that I *think* had been returned from Indonesia being sent on elsewhere - the implication being that it wasn't worth hanging on to it for imminent redispatch to Indonesia. Just for fun, what are people's theories about what we'll see before the new broker's note in Feb? My guesses are: 1/ Signing of contract with Bahrain 2/ Confirmation of receipt of initial payment of x from Philo, resulting in a 'likely to exceed market expectations' statement.
fredfishcake
21/1/2019
11:53
I see that the original Indonesia MDM contract that was signed with Qnective in March 2016 was to provide SRT with US$ 100 million of revenue, spread over 3 years. This contract was pulled in July 2017 and SRT identified an impairment charge of £1.5 million on work and stock write down. The assumption is / might be that this contract will fire up again, especially when Indonesia sees what is happening in the Philippines. This contract was for the Coastguard but there is a relatively recent photo in the gallery depicting discussions with the Indonesian fishing industry. I suspect that SRT hopes that they can swallow the various Philippines and Middle East contracts before they have to take on Indonesia, Vietnam, Thailand and an increasing number of 'Many others'. SRT certainly has an abundance of plates to keep up in the air. It will be interesting to see the new target price from the broker. The July 2018 target price was 75p. Target prices never identify a timescale!!
countryman5
21/1/2019
11:39
Certainly restoring Bakamla's reputation in matters of procurement is a necassary pre-condition to them being able procure anything of significance. Perhaps this manoeuvre is purely for public reassurance, although the KPK are pretty independent - the public had to come to their rescue when their HQ was besieged by the police who they were investigating. SRT or their broker always said that no revenues were to be expected from this contract until the end of 2018/19 (SRT year-end) at the earliest. We also know that they were hard at work scoping and detailing the project well after the corruption case came to light. Possibly the powers that be down there had this sort of timescale in mind? From the press reports of last week, it is very much related to future procurements by Bakamla - but those will have to be squeaky clean and I am none too sure that the original Qnective frame agreement would pass muster. Simon did say at the AGM that Qntecive were still in discussions with the Swiss export credit people about it, so who knows? Export credit agencies didn't always look too closely at potential corruption, indeed the murkier the deal the more often companies would insist on official cover, as the later discovery that a contract had been obtained by bribery would not affect the exporter themselves. I understand that that has been cleaned up of late. I certainly know from experience that the banks are extremely wary these days.
lavalmy
21/1/2019
10:20
Thank you LaValmy. A slow burner still I imagine. But a big one when they allocate budget to such matters.
yumyum
19/1/2019
07:37
The new head of Bakamla has been busy in recent times. He did something of a tour of India, Malaysia and Vietnam, and has just met with the Aussies. One of the priorities he has, judging from the communiques, is to establish Bakamla as the only point of contact for foreign coast guards as Bakamla is the 'real' Indonesian coast guard. It shows that there is still a host of competing bodies in the Indonesian maritime space. So far so interesting. We all remember that Bakamla agreed an enormous frame agreement with Qnective under which SRT was to do most of the work. That screeched to a halt when the previous regime at Bakamla was caught with their fingers in the till with regard to a satellite monitoring project, which was completely separate from the Qnective project. The previuos head of Bakamla, who has not (yet) been charged with anything, had problematic relations with the KPK, the anti-corruption office. So imagine my surprise when this happened: hTTps://bakamla.go.id//home/artikel_lengkap/3942/4b9905f65c0981b4ea25e8e640af2d77 I have translated the whole article 'RI Head of Bakamla Vice Admiral Bakamla A. Taufiq R. held a meeting with five leaders of the Corruption Eradication Commission (KPK) at the Merah Putih Building, Jalan Kuningan Persada Kav.4, South Jakarta, Thursday (01/17/2019). This meeting discussed the plan to build Bakamla RI's posture as an Indonesian Coast Guard like those in developed countries. Ideally, the coast guard agency has three special powers, namely maritime safety guards, maritime security guards, and functions as a defense reserve component in the maritime defense aspect. This was conveyed by Laksdya Taufiq in front of the Chairperson of the Corruption Eradication Commission Agus Raharjo, who was also accompanied by the ranks of the Deputy Chairperson of the Corruption Eradication Commission Basaria Panjaitan, Alexander Marwata, Saut Situmorang, Laode Muhammad Syarif, and the ranks of Deputies in the anti-racial institutions. Furthermore, Laksdya Taufiq conveyed that in order to achieve the ideals of forming the Indonesian Coast Guard, it was necessary to develop a good architecture of Command and Control (Kodal). Moreover, that can unite all components of the country, especially in the maritime sector. All these efforts are carried out to jointly maintain the security of the national territory and jurisdiction according to the main tasks and functions (tupoksi) of each agency. In the warm-up discussion, Laksdya Taufiq also conveyed the situation of maritime security in the territory of Indonesia, as well as the development of the situation of regional and international waters. There was no escape from the attention, the scenario of future sea security threats faced by Bakamla was also conveyed. The obstacles and achievements of Bakamla up to now are also interesting discussions during the meeting. Responding to this, KPK Chairman Agus Raharjo welcomed and was very enthusiastic about the explanation given by Laksdya Taufiq. He also added a positive response given by KPK Deputy Saut Situmorang. Saut even proposed to oversee the Bakamla organization development road map towards the Indonesian Coast Guard. Before leaving the Red and White Building, Laksdya Taufiq welcomed the greeting of reporters who had been waiting for a long time on the front porch, by answering all the questions raised by the media crew about the results of his visit. The officials of Bakamla who were present at the meeting were Deputy Information, Law and Cooperation of Laksda Bakamla Dr. Abdul Gofur, Drs., M.H., Inspector Bakamla Laksma Bakamla Drs. Sarono, M.H., Legal Director of Laksma Bakamla Eddy Rate Muis, S.H., M.H., Director of Cooperation Laksma Bakamla Dade Ruskandar, S.H., M.H., Policy Director Laksma Bakamla I.G.N.A. Endrawan, S.H., M.H., and TU Head of Subdivision Head of Bakamla Lt. Col. Bakamla Ridwansyah.' So very public attention, the KPK offering to oversee Bakamla etc. It could be paving the way for a restart of Bakamla's push to actually be the point organisation in the maritime domain. I think the original project was part that process, as they would control the flow of information to the other agencies which is always a good starting point. I hope that SRT has maintained its direct links with Bakamla as well as via Qnective. I am probably not alone in wondering what the latter bring to the party. Needless to say, sparks would truly fly is this project is added to the others we are awaiting.
lavalmy
17/1/2019
22:57
The more I think about it the more Bahrain contract is soon in the bag. SRT are patient, and a top notch company.
yumyum
17/1/2019
15:17
I don't know what they are up to. Tucker said that Bahrain had both the funds to do it themselves and a strong desire not to be beholden to anyone else. On the other hand, the US has a large naval presence and the UK a much smaller one, so I can't see them not sharing the information at the very least. I don't expect there to be the big signing ceremony this time either. I think the point last time was to soften up boat owners - there was footage of the fisherman's union head thanking the Interior Minister for thinking about their safety and other such guff at the time. As an aside, The Ministry's website has a poll to rate their new website - the voting options are excellent, very good or good - so, as if you needed telling, they are that sort of outfit. Radar and command and control projects don't require publicity and probably prefer none either. It would be nice though if they won another 'project of the year' award.
lavalmy
17/1/2019
14:45
Thank you LaValmy. Sounds positive. Hopefully they are talking about SRT and the UK's support of SRT.
yumyum
17/1/2019
13:53
hTTps://www.policemc.gov.bh/en/news/ministry/88155 'Coast Guard Commander received the Military Attache of the UK Embassy on Thursday. The Commander hailed the coordination and cooperation between the two sides, highlighting the importance of joint efforts to reach out to an advanced system that support marine security. The meeting reviewed cooperation and topics of common interest.' Google translate has 'noting the importance of joint efforts to reach an advanced system that supports maritime security.' which sounds more sensible. Whatever that means is still a closed book.
lavalmy
16/1/2019
12:59
Https://srt-marine.com/gallery/ new photo Louise will never get that in her hand luggage!
alter ego
15/1/2019
15:39
With any luck, it has gone back to the editors to add phase two!
lavalmy
15/1/2019
15:28
yes, I couldn't find it today
alter ego
15/1/2019
15:22
And the other video seems to have disappeared.
lavalmy
15/1/2019
15:18
Thought folks would like to know the missing zero error in 300,000 vessels in the BFAR video has been corrected.
alter ego
15/1/2019
00:43
Hey Piedro. Argentina. You found an interesting article (again) and shared it. Thank you very much for that (again). It is a very important story. Fishing ....fish....health of fish.....fish stocks....... are essential to many millions of people....hundreds of millions of people. SRT seems to be by far the best route of dealing with all(some of) the issues (and more). When I say essential I mean ESSENTIAL....and NOW ! This is a world crisis. Fish and fishing. Action will be quicker than expected. Not really the SRT way I admit but it looks promising....for the fish and SRT shareholders. And fishermen. You cannot make a living from fishing if there are no fish. If you want to manage fishing (and more), as a country, then SRT is the go-to provider. The very BEST. Apologies to other companies if SRT is cheap....but cheap and effective is what the customer demands. It seems as well that SRT is going to deliver to shareholders at last. Still very cheap shares if you can believe the Feb broker forecast...... I do believe 'ECO' investors will catch on to the SRT story. And want to buy the shares for a very good 'ECO' return on investment. Why would you not ? ECO for sure and double your money in short order......and more if hold and wait for share buybacks and dividends. In late 2020 or sometime 2021.
yumyum
14/1/2019
17:22
If you look at the video on the right you see others by SRT. The Commander's one is interesting. It teases for Phase Two, but of course there isn't one yet. Command and control is mentioned, as it was in the recent webcast re. Bahrain.
lavalmy
14/1/2019
13:06
Nice video Countryman5. The real deal. Speaking of which ...I notice the webcast refers to events, not one event. So, I am hopeful of two (or more) contracts then between now and late Feb.
yumyum
14/1/2019
11:59
A very nice bit of indirect promotion for SRT's offering. Every little helps when it comes to spreading the word :)
philburt
14/1/2019
11:48
Did the video make she share price rise?
countryman5
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