Srt Marine Systems Share Discussion Threads

[lavalmy] 20/11/2018 07:09

I had completely forgotten about the half year report.

'I therefore expect the second half to see significant systems deliverables from multiple contracts and associated revenues as well as a solid contribution from our transceivers business.'

And they have abandoned the idea of their own satellites.

[lavalmy] 19/11/2018 07:05

Hi C5

Or were they?

[countryman5] 18/11/2018 15:55

Hi Lav,

SRT was awarded the Philo 2 contract and kit was delivered many months ago. with the expectation of immediate installation. The assumption must be that the facilities were up and running back then for Philo 2.

[lavalmy] 18/11/2018 15:05

Sorry C5

I picked up on that a few days ago, I think early in the week. It is a re-issue of some parts of a tender that was done and awarded a couple of months ago. I think they have done all the work but had modifications/final decisions on some bits - so legally they have to re-tender even though the work has been done.

You will see in there anti-static flooring etc and it is all for the new Monitoring Centre, where in the pride of place we would expect to see those hubs that were sent out in March very soon.

My read is that it is all ready to go in the physical sense of having the rooms built and equipped. SRT are just waiting for the paperwork.

[countryman5] 18/11/2018 14:19

ESTABLISHMENT OF COMPUTING FACILITIES/ VESSEL MONITORING CENTER AND
SUPPLY AND INSTALLATION OF GENERATOR SET TO BE INSTALLED AT THE NEW
BFAR BUILDING.

The deadline for the above tender is November 28th. 2018. This is clearly not for Philo 2 but must be for the next stage (philo 3?)

[wynterwilde] 16/11/2018 12:06

Hehe, to rival the "where were you when JFK was shot?" is, where were you when the RNS came....I'll be in Greece and it'll be 09.00hrs (very civilised )😁

[philburt] 16/11/2018 07:58

yump - you may be onto something there..... :)

[goodapple] 16/11/2018 01:05

Meanwhile the ritual daily search for the elusive 0700 RNS goes on....

[yump] 16/11/2018 00:03

fwiw

SRT are one of the few investments I have which seem to move independently of the main market and global/economic worries. I guess that makes it a very company-specific risk and I think by now that also means that all the bored shareholders have gone and we're left with 'hard-core'. Hard-core what, I'm not sure. Drinkers perhaps ;-)

[alter ego] 15/11/2018 22:48

I think Champagne would be very inappropriate. I suggest some excellent English sparkling wine. More than a match for sour grapes.

[philburt] 15/11/2018 18:13

Lav / C5 - a small discrete champagne bar somewhere?

[countryman5] 15/11/2018 18:07

LAV.

We obviously share the same optimism about SRT's prospects.

Suggest that we meet up after Philo 2, Saudi, Kuwait, Bahrain 2 and Vietnam are in the bag. Probably in the first two months of 2019

[lavalmy] 15/11/2018 16:31

C5

A good point about what information there is available. Apart from on here, there really is only the company itself and, via them, the single broker. Yes, Simon has done occasional promotion via Paul Scott or Mello. Private investors who look at AIM shares probably have come across the company and are either long-suffering like ourselves or now disregard the business and its prospects. Institutions are absent in any meaningful way. So when, as we both and many others here are confident, the contracts really start to come in, I think the share price will make up for lost time. I know we have discussed how tightly the shares are held, but I suppose in many AIM companies there are equally large holders amongst founders/management as at SRT. The big difference would be the larger private shareholders who have accumulated over the years, Persey, Laing etc.

I still think that next year and the years thereafter we will be looking at a business earning close to and beyond double digits EPS. How that will be valued initially is anyone's guess, but as it becomes more consistent and the recurring earnings from these customers become more visible, then it will be at increasingly higher levels.

Whatever the mess that this Brexit is likely to entail for other companies, SRT will also shine as a business that is immune to any impact with practically a 100% export focus, dollar earnings and mainly dollar costs, in a growing market with a decent moat. It could become fashionable.

First things first. The Philippines, as you say, very soon. Another three or four shortly. I am not sure that lack of courage has been holding these projects back, as you suggest, more just multiple stakeholders, a lot of planning etc. All that makes SRT integral to the process (witness the whinging from the wannabee rivals in the Philippines) and allows them to customize the architecture for each client, which they uniquely can do for AIS-based MDM because they own all the techology. Where I think there will be a huge benefit is that these projects are all part of phases in most of these countries, so once started will carry on to their logical conclusions unless abandoned. They will not be looking to change systems once started and they clearly like what they have seen.

[countryman5] 14/11/2018 19:54

Lav is very well informed and I for one am very grateful for his input. What are SRT shares worth? As always this is the factor of sells v buys. Does the share price mean anything? Only if one is buying or selling. Buyers will buy and sellers will sell based on information / fear / greed. What information, apart from what appears on this site is available? Not a lot. If you are of a nervous disposition then you might be tempted to cut and run. If you have swallowed the SRT story then you might buy some more. I am in the latter camp and am very relaxed and anticipate a contract from the Philippines very soon. If this comes to pass then other Countries in SE Asia will follow. I suspect that there are many officials who are frightened of taking the wrong decision. If the Philippines plump for SRT this will give Vietnam, Thailand and Indonesia the confidence to proceed. The same applies in the Mid East where Bahrain has committed to SRT. I am hoping for Bahrain Mark 2, plus Kuwait and also Saudi to come on stream soon. I understand that SRT and Emtrak are usually flying the flag at the big trade show in Amsterdam at this time of year.

[crystball] 14/11/2018 19:05

What about the other contracts? Let's see one of those in addition to the Phillipines and we are off to the races!

[pinkfoot2] 14/11/2018 18:43

All good stuff but as FFT noted earlier,the shareholders want to see a tangible bankable contract Lav.The share price in SRT relies on regular positive chat-otherwise today’s drift will continue.Lets hope it’s just part of general malaise in the market which has been shocking in the last few weeks

[lavalmy] 14/11/2018 18:05

The new head of Bakamla gave a little speech to his staff yesterday. He admits that only having limited sensors, seven boats and no aircraft is an impediment to fulfilling their mission of safeguarding Indonesia's marine domain.

Bright lad, then.

Unfortunately, he gives little indication that things might change soon.

On the bright side he has spotted an immediate win: impressive uniforms

'According to him, there needs to be a change in mindset about Bakamla's duties, namely as a body that has the function of the Coast Guard with the universal task of Marine Security, Marine Safety and Defense. Uniforms show authority and identity, so Bakamla personnel need uniforms that can foster pride, he said.'

Here is him with his on.



The Indonesians find it easier to call him Taufiq, rather than the full Taufiqoerrochman.

[sivadnoj] 14/11/2018 13:47

Thanks LaValmy - reassuring.

[lavalmy] 14/11/2018 13:26

Absolutely no grounds to think that a contract has gone awol and lots of third party confirmation that it hasn't.

[fft] 14/11/2018 12:49

Hopefully it is just people with margin calls selling, cos if another contract has gone AWOL the company is probably shot from a credibility, cash flow, and fund raising point of view.

[lavalmy] 14/11/2018 12:26

I think it is people just fed up and probably not following things as closely as people on here. It would be a strange time to sell if you knew that their largest contract is about to be signed. The potential competition think it's a done deal as well and there has been no further noise in the local press.

At the fundraising, a well known poster here mentioned to me that Tucker had said that there was a delay in the process because some big shot wanted a ceremonial signing - could have been a handy excuse or could have been for real. This time round though the BFAR seems to be in great haste, and expected the system to be installed before the end of December in the full knowledge of the tendering/paperwork timescale.

I don't have any idea why they expect to pay SRT £700,000 this calendar year.

[hjb1] 14/11/2018 12:13

I certainly hope not! Top up anyone?

[sivadnoj] 14/11/2018 12:05

I'm trying hard not to equate this price weakness with some bad news concerning the Philippines retender process. :(

[lavalmy] 13/11/2018 07:12

This has more detail on what has to be done, though I can't remember seeing what the actual EU recommendations are. Of note is:

'Around the story of removing the "yellow card" for seafood, Ms. Le Hang, Deputy Director of VASEP.PRO (VASEP) said that the MARD should implement strong and comprehensive measures to prevent the illegal ships encroaching in foreign waters; deploy the Project on management information on fisheries in the sea phase II right in the fourth quarter of 2018 to monitor the operation of fishing vessels with length of 15 m or more.'

I think we have seen VASEP say that before. This quarter or next.

[pinkfoot2] 12/11/2018 19:03

Thanks-my concern is cash.Either you believe the story or you dont.If you are invested, then the only question is when...