Srt Marine Systems Share Discussion Threads

[astralvision] 07/11/2017 16:42

Homeboy, I'm not interested in trading blows or arguing with you. I used your exact words, unless you are not able to recognise what you wrote.

You stated '..Indonesia has been cancelled'

Now that is not what the company are telling me, so either they are making it up or you are. That's lying in my book, but you can call it what you want.
I will prefer to take the view of the company.

As regards to the rest of your post, well, sounds like you are getting more than a bit irritated. Too bad, you've been found out.

[astralvision] 07/11/2017 16:32

given the current discussion, those posters that are genuinely interested in understanding the situation could do worse than the Extrader post which is a reply from SRT about, amongst other things, Indonesia, VMS systems, competing systems.
The info is only a few months old so still very relevant.

Here is the link

[yump] 07/11/2017 16:03

I have to say that after the JRC 'issue' was posted a while ago, I did look it up and posted a reference to their long-standing involvement, which recently resulted in an update to their tech, software, hardware etc. etc. I believe I also found that it was a port.

I simply can't be bothered to find my own post. As you say astralvision, it clearly suits some folk to misinform, or at best to just be ignorant of the facts and not look into them.

A bit of Googling goes a long way.

In fact, from memory I think the person that posted the JRC 'issue' actually also posted a link. Following that gave the full facts. I don't even think the poster followed their own link.

I can guess who it was, but no point in wasting time to dig back to find their post.

[dj trading] 07/11/2017 16:02

So "Our Customer" and "Our Customer's Customer" as Simon had to say about 30 times in his last video update (I almost felt sorry for him!) are no longer confidential or at least not for Astralvision and now the world!

I would suggest that investors research Qnective. just saying! and not offering an opinion (Yump)

[homeboy] 07/11/2017 15:57

"False news"

LOL, no false news has been posted, just viewpoints, and quite valid ones.

All you've done is contacted SRT to be given the usual bumf.

Probably worth noting the times scales for other players involved in the same region - 5 years and 10 years, plus interesting that they aren't making any money, note too that these others players have well capitalised pockets to sustain them.

If SRT are still in the frame for Indonesia don't expect it to resume promptly next March, you might find delays and changes going on with this for years, if of course they are still in the frame - still yet to happen.

Meantime, SRT has a growing cost base to service and irregular income is likely to cause balance sheet problems for some time to come, including, imo, this year.

Also, from the email - "Our specific situation in regards to our contract with Qnective and in turn Bakamla has not changed – if it had, then we would have announced something per AIM rules."

Again, just my opinion, the situation has changed most definitely, they are making provision for debt write offs, fact not opinion. The project has at best been shelved for whatever arcane reasons and going by other players in the region, investors will have an uncertain wait for resumption - if this happens - it's not guaranteed.

The only reason SRT hasn't RNS'ed a definite 'Indonesia is cancelled' is because technically it hasn't. But that is also just a technicality, for an investor expecting a company to generate meaningful profits with returns to shareholders, the situation is still uncertain and from the time this contract was first announced, expectations were quite clear from an investors perspective, this has changed and is now uncertain. As said, SRT are not generating profits and are in debt and have now a credit facility all just to keep the lights on and no greater clarity as to when revenues will flow.

An investor requires some concept of money flow and business deliverability, to make 'technical' statements that nothings changed when in business and financial terms it has, is just playing with words.

The problem with wanting the CEO to hand hold and email every time a poster posts something that holders don't like is that you fail to develop your own critical thinking, once again you rely on being spoon fed from a company that so far doesn't deliver on expectations. Good luck on that.

No false news was generated in this reply. SRT punters may have had their feelings hurt though.

[astralvision] 07/11/2017 15:56

thanks everyone, you're welcome.

[hjb1] 07/11/2017 15:56

Courtesy of astral on the other thread, hope this helps DJ.



A poster earlier(hjb?) on this thread asked about SRT's view, think it was wrt JRC in Indonesia.
Also post 5927 by homeboy said 'Indonesia has been cancelled' and post 5941 talks about JRC and Indonesia and on the other thread a Vissim contract in Thailand has been posted.

I asked SRT about these issues, I have received the following reply which I am happy to share. I think this clears things up and it would seem some folks, perhaps, have their own agenda for posting false news?

Anyway, here it is:




'Within a country there are lots of different maritime market segments each with different requirements and procurement processes. There will be coast guards, ports, waterway authorities, owners of infrastructure, inland waterway authorities, Navy, Fisheries. In almost every case, in reality, they do not co-ordinate activities as they have very different operational objectives.

 
-          Indonesia – the JRC contract everyone is talking about is for a port – hence a VTS system. Its nothing at all to do with either the fisheries and or the coast guard. Its well known that Indo ports are very behind in terms of monitoring and its equally well known that JRC decided some years ago to target owning this market -  they have been at it for 5 years now and have had to supply an initial reference system at a loss making price. All well known in the industry. Taking a 10 year view, as they are doing, I believe they will do well in the VTS segment. The Coast Guard, Fisheries, Navy, Infrastructure owners such as the oil company are entirely different. Our specific situation in regards to our contract with Qnective and in turn Bakamla has not changed – if it had, then we would have announced something per AIM rules.
 
-          Thailand – the same applies in respect of Vissim. The reality is that Kongsberg has the contract for a few ports who have sub contracted to Vissim. The other reality is that this is the second time the same deal has been signed, but no work has commence. We continue with our indepth discussions with the Navy and Fisheries. '

[hjb1] 07/11/2017 15:55

nice one ASTRAL. I will c/p onto the other thread!

[pugugly] 07/11/2017 15:14

astralvision: Ditto - Thanks -

[effortless cool] 07/11/2017 15:10

Thanks, astralvision.

[astralvision] 07/11/2017 15:06

A poster earlier(hjb?) on this thread asked about SRT's view, think it was wrt JRC in Indonesia.
Also post 5927 by homeboy said 'Indonesia has been cancelled' and post 5941 talks about JRC and Indonesia and on the other thread a Vissim contract in Thailand has been posted.

I asked SRT about these issues, I have received the following reply which I am happy to share. I think this clears things up and it would seem some folks, perhaps, have their own agenda for posting false news?

Anyway, here it is:




'Within a country there are lots of different maritime market segments each with different requirements and procurement processes. There will be coast guards, ports, waterway authorities, owners of infrastructure, inland waterway authorities, Navy, Fisheries. In almost every case, in reality, they do not co-ordinate activities as they have very different operational objectives.

 
-          Indonesia – the JRC contract everyone is talking about is for a port – hence a VTS system. Its nothing at all to do with either the fisheries and or the coast guard. Its well known that Indo ports are very behind in terms of monitoring and its equally well known that JRC decided some years ago to target owning this market -  they have been at it for 5 years now and have had to supply an initial reference system at a loss making price. All well known in the industry. Taking a 10 year view, as they are doing, I believe they will do well in the VTS segment. The Coast Guard, Fisheries, Navy, Infrastructure owners such as the oil company are entirely different. Our specific situation in regards to our contract with Qnective and in turn Bakamla has not changed – if it had, then we would have announced something per AIM rules.
 
-          Thailand – the same applies in respect of Vissim. The reality is that Kongsberg has the contract for a few ports who have sub contracted to Vissim. The other reality is that this is the second time the same deal has been signed, but no work has commence. We continue with our indepth discussions with the Navy and Fisheries. '
 

[yump] 07/11/2017 12:06

It is difficult to be patient. I work online most of the time and in general, results from business efforts can be seen quickly - good or bad.

I just have to remember what it was like trying to launch a relatively simple new industrial product years ago.

SRT's business is a long game. If its long for them, then its long for everyone in the market. As far as I'm concerned they've done nothing wrong at all. You can only go by what your market appears to be; I don't think they've misjudged it.

[astralvision] 07/11/2017 11:57

fair points, yump.
my view is that SRT is a well run company and investor friendly. They do have a problem in that a lot/most of these major contracts and with governments are their agencies and some of these move at a glacial pace. Each project is unique and the time and effort that must go into these projects by SRT must be immense.The positive from that is that once accepted that should bode well for future contracts, as hopefully we will see with Bahrain second phase.
I think SRT will achieve 'critical mass' in terms of multiple contracts giving rising revenues and better forecasting. Quite when this will be is anyones guess, with four 'near term' projects it could be next month or a years time, just impossible to say but I think they will get there in the end.

[yump] 07/11/2017 11:46

astralvision

I happen to agree with you that it looks a bit of a stretch and with SRT there is no way of knowing at the moment whether there will be surprises one way or another.

The only way I can think of the prospects is just to look at all the extra RNS's, compared to say a year ago - which is still guesswork as figures haven't come out.

In many cases lack of figures is accompanied by management that clearly have no intention of keeping investors informed, even if information is not sensitive.

I'm happy that is not the case here and SRT can't be tarred with the same brush. Given the unpredictable nature of contracts and deliverables I don't know what I would do in terms of announcements, given the nature of investor response.

I'm more interested in whether SRT might get consistent revenue rises, once multiple contracts are underway, or whether its going to be up and down year to year.

[astralvision] 07/11/2017 11:37

hjb
I thought SRT had put out a RNS re Indonesia and that it was bad in that it has been put on hold for what could be forever, or year after next or whatever. I would have thought most investors would write that one off, then if anything does ever materialise, it's a bonus.

[astralvision] 07/11/2017 11:34

I'm not advocating trading but buy and hold has not really worked with SRT. Buying at low points on the chart and selling over 40p has worked well. easier said than done, I know. No harm in keeping a few as 'core' holdings. 32p, it doesn't strike me strongly as a buy or a sell

[yump] 07/11/2017 11:32

An assumption has been made that I'm talking about share price, but I'm interested in the business. That's what I'm invested in and that is what will move the share price.

So:
+ Indonesia
- Indonesia
= no change.

Leaving whatever extra announcements, contracts etc. that have been shown since before Indonesia, to add on and make of what you will.

Just to confirm as well, I am wildly excited about SRT's prospects, the sky is the limit. etc. etc. There, that should keep you happy.

and just suppose Indonesia does get going - lets say that's 50/50, based on the actual evidence and facts. Using any other odds is pointless.

[hjb1] 07/11/2017 11:31

SRT need to put out an RNS and come clean on the Indo situation, good or bad.

[hjb1] 07/11/2017 11:29

Yump, you must pay more attention!.I am still a holder, I said I sold MOST of my holding here but kept some just in case by some miracle Tucker for once delivered on expectations..if you had followed my lead you too would be a bit wealthier today, and I have also said some time ago 30p or below is on the cards, not far off now are we?

[philburt] 07/11/2017 11:28

Frivolity aside, Every one is entitled to a view on SRT and to express their opinion. Equally, we are all at liberty to listen to that opinion or not, often dependent on how it's expressed.
Indonesia was a big disappointment, but the long term impact is yet to be understood. In addition, we still may, or may not, make the full year forecast. who knows? We just speculate.
Someone far smarter and successful than me suggested that the Stock Market was a voting machine in the short term and a weighing machine in the long term.
You either believe in the long term SRT proposition (as I do) and you're in, or you don't and you're out. Simple as that.
Good luck all and DYOR

[astralvision] 07/11/2017 11:22

there is a regular 10,000 share buyer(s) so some evidence for support at current levels.

[astralvision] 07/11/2017 10:11

Just answered my own question, according to eagle eye it's £15m



That leaves £12.1m in 2nd half. I think the broker's note post interims reckoned something like £7m or £8m was 'in the bag' from core + the project announced in March.
Still leaves another £4m or £5m to come in from new projects, sounds a big ask but just about still do-able. IMO. Risk seems weighted to the down-side.

[astralvision] 07/11/2017 10:06

just to be clear I'm not saying 20p is my 'target', but that's what could be on the menu from my interpretation of the charts. 30p looks an important level to hold for the bulls.
Can anyone confirm what the revenue forecast is for this year? I had £15m in mind, which is looking a stretch at this point.