Srt Marine Systems Share Discussion Threads

[glavey] 24/4/2024 01:10

[14260]
It takes two to tango...

[pinkfoot2] 23/4/2024 22:29

The news seems to have been out for a few days looking at the internet-why has this not been covered by the company in an RNS?

[yump] 23/4/2024 20:28

Smacks of spoiling tactics by someone.

I can’t imagine how any overseas CEO could be held in any way responsible for an internal decision.

If anything comes of this the Phillipines will label itself as somewhere not to do business. Ad 1/2 of S America and 1/2 of Africa and there’s still plenty to go for.

[extrader] 23/4/2024 20:07

Hi LaValmy

Unable to avoid a banana skin?

Unfortunately, a lot of SRT's potential markets are.....banana republics.

I'll get my coat.

GLA

[countryman5] 23/4/2024 20:04

If anyone wants to get a handle on the politics involved be sure you read the second part of the Rappler investigation.Lav 14203
'Big fishers encroach on small fisherfolk's municipal waters'
There is clearly a power struggle between Marcos and the big fishing people.On July 24 2023 Marcos said he would prioritise amending the fisheries code in the interests of the fisherfolk. He appears to be using the threat of an EU red card to tame the power of the large fishing boats. The EU threat will hopefully convince the Supreme Court to back Marcos.

[gerihatrick] 23/4/2024 19:59

I would anticipate a RNS response from SRT tomorrow or shortly after.

[supernumerary] 23/4/2024 18:50

yump - I remain astonished that nobody has gone to one of the Middle East sovereign wealth funds, asked for $1B and used it to set up an all-encompassing maritime management company.

The model I have in mind is Palantir ( which presents itself as a software and data company, but had its origins largely in the US defence and security arena. They've gone from there to have their fingers in almost every pie you could think of eg the UK NHS! The same sort of organisation focused on the maritime domain could become large, rich and powerful in very short order.

[yump] 23/4/2024 18:39

Just to clarify I’m not including SRT in my post but I reckon a few competitors probably need to go to Jelly School.

[lavalmy] 23/4/2024 18:31

Super

No charges have been brought. The Ombudsman recommends that they should be. So no.

[goodapple] 23/4/2024 18:20

Simon always said that SRT plays it with a straight bat, and I'll take him at his word.

[yump] 23/4/2024 18:11

I think the reality is that there is a lot of future money at stake for any businesses getting contracts for maritime surveillance and a proportion of marketing expenses of potential SRT competitors will be finding its way into today’s versions of brown envelopes.

That, not funding, would be a good reason for a much larger business with some “extra” skills to buy SRT out.

[supernumerary] 23/4/2024 18:00

LV - is any part of this sub judice? If so, it may be difficult for ST or SRT to say anything much.

[pinkfoot2] 23/4/2024 17:46

I think it looks worse than it is but sentiment is everything in this market-the ruling looks very clear and may take some time to resolve.

The company will have to say something-most likely tomorrow am.Saying nothing would be crazy given all the other stuff going on with government related guaranteed and the much anticipated 2024 accounts will have to reflect

[zingaro] 23/4/2024 17:39

The light at the end of the tunnel always seems to move further away not nearer. Now, after about 4-5 years my investment is still loss-making and that seems to be growing (now over 40%). It's never ending. I'm fed up. Not selling up atm, but a huge disappointment. Rant over

[lavalmy] 23/4/2024 17:37

I think we know about SRT's limitations more than anyone. Unable to avoid a banana skin?

[extrader] 23/4/2024 17:20

.." Quite how the US Navy was in a position to recommend SRT to Kenya and Tanzania will be one of those mysteries, but gives a level of comfort.."



.."Naval Support Activity Bahrain (or NSA Bahrain) is a United States Navy base, situated in the Kingdom of Bahrain and is home to U.S. Naval Forces Central Command and United States Fifth Fleet..."

It's a racing certainty, IMO, that the Yanks know more about SRT's capabilities (and limitations) than anyone else, likely including our own Senior Service !

GLA and ATB

[davemac3] 23/4/2024 16:18

obviously connected to the slump in share price today, so they should say something

- it will take time if nothing else and who pays his legal fees? us?

[pinkfoot2] 23/4/2024 15:50

CM-you have truly lost the plot.This news is pretty serious and surely they have to say something.You keep ploughing your own furrow though mate

[lavalmy] 23/4/2024 15:44

Whether they issue a statement has nothing to do with political wheels turning in the Philippines. It has a lot of relevance to the LSE and shareholders.

It does seem to me that the Ombudsman has wilfully misconstrued many facets of this, particularly trying to conflate an extra 1,500 transponders with the extra 722 million pesos for the re-tendered enlarged project - which is separately admitted to have been properly spent. It seems that the Ombudsman has either gone hook, line and sinker for complainant's story or has been bribed. There is no other record of James Mier Victoriano nor what his interest in VMS/fishing is, only that he filed the complaint, which was obviously flawed from the outset.

[philburt] 23/4/2024 15:44

Good time for the bold to buy… ;)

[countryman5] 23/4/2024 15:26

Those interested in this news story should read Lav's post 14203, which explains the politics going on here. The large fishing boats fish illegally in coastal waters and they do not want the SRT monitoring system. These large boats have political power and have dragged Simon into their antics. I suspect that Simon would like to issue a statement clarifying things but will be advised that he should say nothing and let the political wheels turn. I suspect that CLS is also trying to stir the mud.

[owenski] 23/4/2024 15:19

Company needs to put out a statement being as this 'news item' is in the public domain.

Whatever the motivations behind it, it isn't going away and it sounds bad enough.

[goodapple] 23/4/2024 15:05

A statement from SRT would be welcome in view of the >10% share price drop.