Srt Marine Systems Share Discussion Threads

[astralvision] 18/8/2017 08:52

Excellent order today, also another great reference point for SRT. I think kinbasket is correct, excellent margins on AtoN. Regarding why SRT did not attend some conference or other, imo it ain't worth getting your knickers in a twist over it. If it bothers you that much ask SRT.My view would be that you could put at least one person on full time attending various exhibitions and conferences around the world, at some cost. SRT do attend the occasional do, e.g. METS, but as an investor in SRT I'm more than happy to let them decide on the optimal sales strategy. They would seem , on the whole, to have no problems meeting the decision makers without attending numerous commercial exhibitions.I don't think us armchair 'experts' can have any real idea of what the best strategy is and the way to achieve it, although it doesn't stop some on here from trying!Enough on that subject, ask the co if there's something you want to know on this front.

[kimboy2] 18/8/2017 08:26

I thought these ATONs were about $3000 each and the profit margin was about 70%. IIRC they are the highest margin bit of tackle they do.

That works out at about $400k. Not to be sneezed at and hopefully a prescurser to further orders.

[hjb1] 18/8/2017 08:06

well the market doesn't seem impressed atm!

[hjb1] 18/8/2017 07:46

well it won't be that much otherwise they would have said.They cost anywhere from $1000 upto $5000 I believe.

[yump] 18/8/2017 07:46

A few people here need to go and work for SRT, then we can criticise you for going or not going to a conference in an area where you've already won a contract, depending on whether the contract subsequently gets delayed or not.

[parsons4] 18/8/2017 07:44

This is obviously to do with the problem with refugees coming from Africa. A great window for future sales !! But yes I wonder what the value of the order is any ideas ?

[dieseltaylor] 18/8/2017 07:37

I understand that we have strict laws on bribery in the UK - and apparently they are being enforced. Not that Indonesia is tainted with any allegations of such behaviour.
Currently.

[hjb1] 18/8/2017 07:34

nice little Aton order at last!

[2vdm] 18/8/2017 07:34

Another contract. What are 200 Aton's worth both in terms of £s but more in terms of profile?

[fft] 18/8/2017 02:49

astralvision,

Wouldn't the better question be why were Indonesia having this event if the contract was as done and dusted as you thought ? Given that it was multiple times bigger than any other contract SRT had had, and that only phase 1 (worth less than 10% of the total) had been decided on, then pressing the flesh and meeting the people who matter would have been top of my list of things to do.

Having lost Thailand (were they in the running ?), you would think they would be very enthusiastic about Singapore - but dont appear to be down for that either. SE Asia has more small fishing boats than anywhere else, and Thailand, Indonesia, Malaysia are going to be big on MDM. The EU has Thailand on a yellow card regarding fishing (illegals, over fishing, slavery etc), so they will be putting in more and more infrastructure. Losing phase 1 means they probably wont get the next parts either.

If Indonesia changes horse, then SRT will probably have lost SE asia. Middle East is nice, but doesn't have the same growth potential (huge coastline, thousands of islands, developing economies) of SE asia.

Anyway, good to know according to SR that none of these people winning the contracts are competition for SRT !!

[zoolook] 17/8/2017 23:34

I'm not persuaded by the pitch in the rns that the background and skills of the new Chairman are a good fit although his LinkedIn profile pic suggests he likes sailing hxxps://www.linkedin.com/in/kevin-finn-93bab575/?ppe=1

[oldscallop] 17/8/2017 22:16

Just looking at Qnective websites (qnective.com and qnective Middle East). Most recent news I can find is dated June 2016. All other Google search results for Qnective are significantly older. Nothing on the Indonesian contract since the original announcement in Oct 2015.As DJT points out, why weren't they at the conference in Indonesia? Should we be worried? Just saying.

[astralvision] 17/8/2017 18:03

Not sure why SRT should be at some jolly in Indonesia half way round the world when Qnective have won the contract and SRT are a sub contractor. Sounds a waste of time and money to me, pleased to see SRT got better things to do.

[hjb1] 17/8/2017 15:04

it's still nearly double the turnover that SRT have achieved and in far less time, anyway it's the same principle just bigger numbers hopefully.

[obiterdicta] 17/8/2017 14:41

Fairly small fry business though, HJB1. £18 million turnover is small potatoes based on SRT's alleged pipeline and opportunities.

The more pertinent question may be why the Chairman has stood down at this stage?

The bulls need to take more heed of bearish views.

OD

[hjb1] 17/8/2017 14:23

sounds like he knows how to build a business up and then sell it on, hmmmm! wonderful idea!

[eagle eye] 17/8/2017 12:50

Some info on Kevin Finn, who replaces Simon Rogers as Non-Executive Chairman.
Good to see Simon Rogers remains on the Board as a Non-Exec Director.

[piedro] 17/8/2017 12:44

DJT,
"I think some serious questions need to be asked!"

Hopefully some serious questions are being asked and hence the board changes.

Am I not correct in thinking that it is the job of the Chairman to direct the board meetings, lay down policy and see that all members do* what they are supposed to do*?

I hope he has the time.

Edit:
* for do read have done</>

[dj trading] 17/8/2017 12:26

Astral - You have missed the most important issue regarding the Indonesia Contract
Why weren't SRT with a $100m "Order" and the Prime Contractor Qnective? with a $400m "Frame Agreement" at the last Indonesian Coastal Surveillance Conference Conference
Note Qnective's news appears to have dried up in 2016?

And why aren't SRT/Qnective currently on the list of presenters for the next Coastal Surveillance Conference in Singapore?!!!

The only two companies currently named so far are competitors SAAB and Kongsberg!
Or on the list of Sponsors

As I said in my original post of 7th June(prior to the MDM Contract update RNS of the 31st July) - "I think some serious questions need to be asked!"

It is always better to look for risk and potential downside as an Investor - the upside is given on a plate by Directors and other Investors so easy to find!

[astralvision] 17/8/2017 10:48

I don't think the Indonesia contract was anything to do with SRT's ability to deliver it, SRT were in any case a sub contractor.Re Thailand, SRT are not going to win every contract, I view it as encouraging there is competition, shows there is a market worth fighting for. Thailand, as far as I am aware, was not in SRT's VSP so nothing lost.I'm more interested in the 4 contracts worth a total of £60m that are near term.Finally, regarding SRT's technical ability, think I prefer to go with the view of the likes of Bahrain, Kuwait, Saudi and others on that one rather than a bb poster, presumably with no industry or direct knowledge of these products, systems and solutions.

[dj trading] 17/8/2017 10:36

Yump - you appear to blame everyone else - fft is right to say there were plenty of warnings. In addition to phasing I warned about SRT's ability to deliver such a large contract, the impossibility of producing 3D graphics for several million vessels with a handful of staff, and the value of a 3D image where 95% of vessels can't be seen as they don't have AIS! And 3D graphics is their USP - the rest is relatively simple as I have also said.

Anyway "Simon says" the Contract "is expected to recommence during the end customer's new fiscal year which begins on 1st March 2018." ....so nothing to worry about!
Whilst most accept everything Simon says I challenge, check and monitor

For example
DJ Trading - 07 Jun 2017 - 11:22:55 - 5070 of 5567
"Didn't bother posting this previously but you would have thought that SRT would have been involved here - I can't see any sign
I think some serious questions need to be asked!"


Anyone who bothered to follow the link would see that not only weren't SRT presenting at the conference but should have followed up those that were notably the Vissim Global Sales Director.
A little research would show Vissim as a supplier of MDM Systems and a potential competitor that needed to be watched particular with respect to Indonesia contract

Putting their news feed on watch you would already know that they have recently won an MDM contract for Thailand presumably against SRT and others?

[visionon] 17/8/2017 10:17

fft. I agree with both of your posts above and would like to see Kevin buying some shares to show conviction. The Autologic history looks interesting. Perhaps SRT needs a strategic investor or to become part of a larger beast given that it is dealing with increasingly large and complex projects, not just selling AIS modules etc.

In some ways I 4-5 small contracts are maybe better than one big one in terms of managing shareholder expectations and risk . PIs would maybe expect two or three out of five ie not all or nothing.

FWIW

What a frustrating share !!

[fft] 17/8/2017 09:12

Let's hope the new director buys shares and isn't just given a load of options. Not holding breath though after what happened last year.

[fft] 17/8/2017 08:49

Yump. I and others pointed out that only phase 1 was guaranteed and phase 2 and 3 were depending on a good phase 1. Most people seemed to assume it was all in the bag.

[yump] 17/8/2017 08:29

When the share price went up to 60p after the Indonesian contract news, how many people posted at length about the risks of a contract through a third party ? How many people posted about the risks of dealing with governments in the East ?

Well it certainly wasn't the people who post at length now about all the possible 'issues'.

Pathetic. But no surprise of course. Armchair geniuses.