Srt Marine Systems Share Discussion Threads

[yumyum] 14/12/2018 14:14

LaValmy, thank you for digging up this stuff. It is appreciated. It is hopeful. Let's see CONTRACTS !

I remain hopeful, confidently hopeful.

[lavalmy] 14/12/2018 11:48

There is yet another talking shop, this one called the Gulf of Thailand Initiative (or sometime even more explicitly as Gulf of Thailand Maritime Law Enforcement Interoperability Initiative', which is sponsored by the US. It finishes today. Both the Philippines and Indonesia have been asked along as observers since 2015.

According to Bakamla, 'At the meeting which took place December 12-14 2018, the issue that became the topic of discussion was IUU Fishing...' and 'The GOTI meeting this time lasted for 3 (three) days where all participants discussed and exchanged experiences on law enforcement mechanisms related to the criminal acts of IUU Fishing in their respective countries. The meeting sponsored by the United States Government also provided an opportunity for all delegates present to discuss bilaterally to discuss the development of maritime security cooperation between the countries present.'

Note that Cambodia has a red card, Thailand and Vietnam are on yellow. The Philippines successfully got its yellow card rescinded based on promises they had made, including very specifically the Philo 2 project, which as we know had been agreed in 2015 between CLS, the French government and, possibly reluctantly, the Philippines. I wonder what they had to say at this meeting?

[barrieb] 14/12/2018 07:37

Just for interest.

[owenski] 13/12/2018 16:18

A re-translation from Donald Rumsfeld -

The known unknown is becoming known, innit.

[lavalmy] 13/12/2018 16:12

A re-translation from a Japanese version of Hamlet reads:

"It is. It isn't. Isn't it?"

[supernumerary] 13/12/2018 16:06

It's like a Zen koan - to know without knowing, read the words that are not written...

[yumyum] 13/12/2018 15:35

I am certainly assuming the pic is Philippines.

...and signing the award is a small but essential step.

[cliffpeat] 13/12/2018 15:19

YY: Is this the Philippines or is it the Thursday "hint"?

[yumyum] 13/12/2018 14:48

Positive gallery pics.

[yumyum] 11/12/2018 22:03

It may already be hedged, LaValmy. Bodes well for the other contracts though. For sure !

[lavalmy] 11/12/2018 17:35

Philippine peso doing well against the GBP. Contract almost £32 million, without lifting a finger. Take back control ;0)

[lavalmy] 11/12/2018 08:18

I came across this promotional video which I had never seen before:



It is all about Bahrain and two years old, but makes specific mention of all the RADAR etc, even including satellite, which must have been wishful thinking at the time.

[lavalmy] 11/12/2018 06:03

C5

I have no particular insights, so I have to say a rather unsatisfying toss-up, I'm afraid. A betting man might go for the client for whom the repackaged RADAR from Indonesia was being prepared?

[countryman5] 10/12/2018 20:25

LAV. You are always well informed. Which of the ME Countries have you earmarked as being the next two?

[lavalmy] 10/12/2018 14:47

On Vietnam, incidentally, you tend to see a bunch of articles appear in the local press describing how the EU will lift the card because of the efforts being made by the Vietnamese - it doesn't work at all as a method, but often gives some valuable insights into what they are doing or are about to be doing. And one of the things they need to do is monitor the 10,000 larger boats, who have 20,000 smaller vessels along with them. I think the EU is wary about mere promises of action and will wnat to see concrete plans, contracts etc.

[lavalmy] 10/12/2018 14:40

CliffPeat

Calendar.

Vietnam should be signed up before the EU mission in January. The two M/E could be any time.

[cliffpeat] 10/12/2018 14:31

LaValmy
"I am not sure whether to expect any further project action before the year-end."

Financial or Calendar?

[yump] 10/12/2018 14:25

I think alter ego might have meant repeating (reliable) revenue. SRT haven't really got a recurring revenue model.

With enough projects on the go, with extras, extensions and updates spread out over years, in theory revenue should stabilise considerably but that's a way off.

[lavalmy] 10/12/2018 14:07

AE

I am not so sure about the recurring revenue - a couple more contracts should be enough to spur the value to new highs. Of those we are expecting, the two in the M/East do not have any satellite revenues. Vietnam does, but, depending on how they adopt VMS, that may not become apparent until the infrastructure is in place, say in 18-24 months. The Philippines does indeed have a recurring revenue stream:

' Phase two is the ongoing operational support and continuous supply of satellite data sourced from a variety of satellite constellations into the VMS system.'

Although it is unclear what size and at what cost to SRT now that they have shelved the satellite idea.

I think the over-riding points are that with two or three more in the bag, the contracted revenue stream is large and diversified enough to be convince investors that they can make sizeable profits and, more importantly, that the sales pipeline is real and happening. The recurring side will add further value when it shows up, but I expect and always have expected that there will be a phase change in the valuation due to projects commencing, and that from that higher valuation range more appreciation will come as the recurring revenues kick in. These are likely to be dwarfed by project revenues for many years ahead.

I am not sure whether to expect any further project action before the year-end.

[lavalmy] 09/12/2018 06:30

However, exactEarth's project is not going so well:

[alter ego] 08/12/2018 18:09

That may be the case C5 but I’m inclined to believe it’s also the need for SRT not only to demonstrate it can win big contracts but that those contracts lead to reccuring revenue. To date it has been difficult, nay impossible even for close SRT watchers to accurately estimate profits and earnings for the year ahead, let alone a couple of years out.
The market will only ascribe a growth p/e rating when SRT can show the relationship between one off contract wins and knock revenues, IMO.

Meanwhile, the faithful, of which I count myself as one, remain optimistic that one day, as Del used to tell Rodney, “ we will be millionaires”

[countryman5] 08/12/2018 14:58

The market did not believe that Philo 2 would happen. It did and the market responded. The market does not believe that Kuwait, Saudi, Vietnam, Indonesia, Bahrain 2 or more from the Philippines will happen. If and when these mega contracts arrive, no doubt the market will respond accordingly.

[lavalmy] 07/12/2018 07:19

I can't see any logic to having AIS and RADAR on the same satellite. Sure there is a logic to having AIS and RADAR sources which can then be correlated but both have to be processed first. An AIS message simply gives the GPS co-ordinates and time that the transponder claims to be transmitting from.

[barrieb] 07/12/2018 07:08

I wonder if they will kiss and make up.