CM-you forgot the change in year end and certainty associated with this and last year’s numbers.
As always, all we be revealed just before the year end( the new one) |
It is quite likely that there will be news shortly about the next phases of the Saudi project. They are hiring a general manager to be based over there permanently.
Somewhat interestingly, there doesn't seem to be any change in the number of boots on the ground in Manila despite the little local difficulty. |
 It is interesting to watch how the market values SRT. A year ago, the Indonesia contract ($160 million) was announced, and the share price touched 65 p. The company expected the negotiation of the UKEF loan agreement to fund the contract would be completed months ago. We are still waiting for the 7 am RNS to say it is all systems go. Kit is in store at head office ready for the initial delivery. Likewise, kit is in store for stages 2 and 3 of the existing ME contract, and we await that RNS. In the meantime, the company is negotiating systems contracts (most of which are in excess of the $160 million contract) with countries such as Vietnam, Kuwait, Kenya and Tanzania. And then there is the Philippines, where SRT has completed a BFAR (fisheries) contract.
Our CEO has got caught up in a political fight between BFAR, which wants to monitor all fishing boats, large and small, in order that fish stocks are conserved, and fish can be exported to the EU, a very large market. However, the mega fishing boat owners do not want to be monitored, so that they can continue hoovering up fish everywhere. Unfortunately, these owners are politically very strong and there is bargaining taking place at the highest level. Unfortunately, SRT and its CEO were referred to the Ombudsman over the award of the BFAR contract, The company has now been cleared of any misdeeds but the Ombudsman still seeks to challenge ST. I imagine that he has filed a motion to overturn the Ombudsman’s claim, but this will only be resolved when the government and the large fishing companies have agreed which boats can fish where. This dispute is seen in the Philippines as normal politics but in the UK the stock market takes fright and the share price drops, even though the company has been exonerated and work on future contracts continues. The politics of this is best explained by LAV in his post 14318 on April 25.
The company has raised about £15 million recently, so cash is not an issue and vast amounts of cash will be released when the Indonesia and ME contracts are finally signed. |
No news possibly suggests that there is no good news - Caveat emptor!! |
Apart from the postage stamp in February, there's been nothing added to the Gallery since METS last November.
Some indication that business is proceeding at MSN and beyond might provide a crumb of comfort to long suffering shareholders.
News starvation is an issue which ST should address while we wait to see results after the fifth quarter. |
Interesting piece about the conflict in the South China Sea between China and the Philippines on Radio 4 today. Nothing new, but it does bring home the reality of the clashes...
from about 11:30 minutes in. |
Maybe Japan starting to rearm (eg converting JS Kaga to an aircraft carrier) has brought that up Chinas agenda. |
I reckon they will be taking in Taiwan this side of the US election |
"Philippine ship hit by Chinese water cannons"
These water cannons are not toys and vessel collisions are extremely dangerous. It can't be long before the Chinese kill a Philippino crew member ( or - perish the thought - a BBC journalist) in one of these skirmishes.
At some stage this territorial issue needs to be elevated on the UN agenda as a matter of major importance.
China cannot be permitted to adhere to international regimes and agreements when it suits them, whilst ignoring others.
The whole of the 'South China Sea' does not belong to them just because of its name. |
FT yesterday.
'Outgoing US Indo-Pacific admiral warns of risk posed by escalating aggression'
'Aquilino said one of his top messages was the need to focus on speed and urgency in terms of operating and delivering capabilities, including with allies' |
South China Sea: BBC onboard Philippine ship hit by Chinese water cannons |
That is an interesting site. The story that links off the LV post is badly structured (plot wanders all over the place) but fascinating how owners of commercial fishing fleets were able to subvert the law.hTTps://www.rappler.com/newsbreak/investigative/officials-private-interests-spoil-effort-track-big-fishers/And the battle between small and large fishers https://www.rappler.com/newsbreak/investigative/big-fishers-close-in-small-filipino-fisherfolk-battle-municipal-waters/ |
Back to SRT (DAS).
FT.
Mediterranean ports warn they are near capacity |
Yes, as is - more recently- pushback. Both amplified/weaponised by social media, unfortunately. |
It seems ideology is prevalent across the world |
Hi LaValmy,
Thanks for providing some nuance to the debate.
In my defence (investment mantra : 'consider the source'), I looked - before posting - at the (Philippines-based)IRRI background here
and its assessment of Golden Rice here
hxxps://www.irri.org/golden-rice-faqs, specifically
Will planting Golden Rice have any harmful effects on other rice varieties through cross-pollination or out-crossing? And can it make weeds a bigger problem?
which appear (I'm a layman) to address most of your concerns.
I didn't want (cheers , yump!) to go too far into said weeds ;->
As I said at the outset, it may be cold comfort for SRT investors, but we're not alone in being caught up in domestic Philippine politics, where this time it seems ideology, rather than financial gain, is frustrating a public good that would benefit the poor.
GLA and ATB |
Thats just what I was thinking ;-) |
I do a lot of plant breeding myself and the problem with the reductive GMO approach is that genes code for proteins which have myriad effects only one of which has been identified in the Golden rice phenotypes, viz beta-carotene production whioh is the only thing they have looked for. What are the other possible effects of these proteins? Most people seem to believe that genes code for a particular trait and only that.
Whilst it is good that they have been able to cross this into local varieties (it does suggest a degree of safety) how likely are 'preventative measures such as staggered flowering dates and observing recommended distances to other rice fields (that) could further limit this risk (of gene flow)' going to happen in the real world? Not at all. GMO corn crosses all the time in the US with non-GMO and farmers instead of having their non-GMO corn protected from contamination are sued by the GMO seed producers if their corn acquires GMO traits. That wouldn't happen in this case but the contamination could in principle - corn is wind pollinated and rice mostly self-pollinates, but recommended isolation distances for rice hybrid seed production are 100 metres. |
Greenpeace sucks for the last few decades sadly. Shame on them and their leaders. |
hmmm... what will our' 'investor' Ollie, make of this do we think... |
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