C5
TRT, but I fear you may have missed the bus....... |
I regret to conclude that the current low share price will probably mean that SRT will join the increasing list of UK companies that are swallowed up by others, It is not as if the company is short of cash. Far from it. Who will be the victor? We know that Ocean Infinity made an approach last December, but was allowed to buy a stake. I suspect that the two companies have been working together recently on joint projects. Airbus would be in the frame because SRT is winning contracts which it would want.
There are numerous global defense companies where SRT would make a good fit. There is also Private Equity which would run it for a couple of years, fatten it up and sell it on again. We will all get our money back, and more. However, I was hoping to own a slice of a major British success company. Question. Where to invest the proceeds? |
Unfortunately accounting periods don’t wait for apples |
Or when it is rotten and being destroyed by Asian (or American Hornets -Yellow Jackets) |
As everybody knows, or should know, the timing of these mega contracts is not in the control of SRT. The apple will drop when it is ripe. |
Yes CM but how long and how many more raises/warnings?Even you must be concerned about changing a year end just before the year end!
To be fair to ST, he is incredibly hardworking but the results are not yet there.Another warning in June would be a disaster |
SRT has successfully established itself as the global leader in AIS transceivers. It is seeking to extend that portfolio with its Digital Aton Systems (DAS) which are mounted on buoys. This is an enormous global market. It has invested a great deal of time and resources in developing NEXUS, which is now undergoing final trials with a launch due in September.
For those who have researched this company, you will know that it has been focusing on the Marine Domain and developing an innovative 3D system that allows countries to monitor vessels near its borders. There are fishing and coastguard monitoring opportunities for SRT's technology. SRT is up against the likes of Airbus, which are competing for the same multi million dollar contracts. SRT, has won contracts with Bahrain, the Philippines, Indonesia and another ME country. Anybody who understands this global systems market will know that timing of contracts are decided by events beyond the control of SRT. |
And don't forget the options exercised back in 2016 (?) on a 10 day share price spike despite being aware that payments weren't being received from a contract that was shortly cancelled with a large impairment cost to SRT. |
ST shoe string of £225,000 salary plus share options - and bear in mind ST is a part time employee. |
After this week’s events, I think the new word in dealing with untouchable management is candour. |
pink - Choppy Waters - Very often a sign of adverse currents or strong flaky squall which then die out. (nb - still on the side but watching as if contracts signed and delivered potentially major upside . If not possible fire sale. |
I’m sorry CM but Simon has been running the show for nearly 20 years, has had multiple fundraisings, and multiple profit warnings.You are confusing effort with success-and there is a difference.The latest move was to shunt the year end into the short grass to avoid a huge profit warning.
It’s time to deliver-that means profit backed up with hard cash receipts.Its not too much to ask.The last RNS said trading in line-let’s see it because we are again moving into the choppy waters with timing |
 Simon has run the systems sales on a shoe string. He has run the company whilst living out of a suitcase. He is sometimes away from home for a month at a time. Following the recent fundraising at 35 p and the substantial cash flow due from the Indonesia Coastguard (£145 million) and the next two stages of the ME country,the finances of the company are secure. There are an increasing number of contracts in the pipeline and installing permanent sales / admin teams in Countries would appear to be a good way forward. I imagine that Airbus will have a permanent team based in Kuwait, in the hope of winning the contract. SRT has a team in the Philippines where there are numerous very large contracts pending (BFAR and coastguard). The loan to BFAR will be on hold until the government finds an agreement with the large fishing companies.large numbers of transponders will have been fitted but these will be switched off until BFAR is given presidential clearance to enforce the monitoring of the fishing boats. The EU, the World Bank and others will be waiting for the outcome. Contracts in the melting pot include the already signed Indonesia coastguard and the next stages of the M E country. Bahrain will soon require its next stage. Kuwait, Tanzania and Vietnam will probably be high on Simon's visiting schedule, along with Kenya.Indonesia fishing will wait until after the new presidential team settles in. |
Intriguing, LaValmy. Thank you. |
I have been wondering about why they might need a general manager to be based in Saudi and how that relates to what should be turn-key projects with local partners doing most of the local installations.
One of the job requirements is to 'maintain a high standard of effective communications with our customers to ensure they remain clear on the status of projects at all time' which is possibly more important to shareholders at the minute.
The lucky person also has to 'oversee all financial aspects of SRT activities within Saudi Arabia, including budgeting, forecasting, and financial reporting' which is very strange if the projects are based on agreed contracts with a few large milestones invoiced every so often and the local partner is in for their pre-agreed cut as and when SRT get paid.
Again he has to 'set clear goals and expectations, empowering the local team to achieve their full potential', ambiguous perhaps as to whose team it is but it is unlikely that it would be the local partner's team as long as they get their end done.
So it sounds to me like they have something else afoot that would require a permanent local team rather than just sending out a bunch of kit and having it installed by the local partner with input from SRT. |
This predates the previous house Speaker's post by a couple of weeks.
'We will focus on how to strengthen our coast guard's capability to watch over our maritime borders during the upcoming budget,' sounds promising. |
Basically clear as mud-the Comms from SRT are rather poor at the moment |
Just as an indication, this was agreed in January of last year then had to go through the Philippines Neda approvals and was re-announced in early November as agreed. So six months for a pre-agreed soft loan to be done. |
Well if the Speaker wants to look at the big picture in some detail before giving the nod to the smaller 2025 picture, then at least and at last they have finalized the big picture. I suppose it might be worth keeping an eye out for congressional meetings about this. Their existance is public even if the meetings aren't.
The 2025 budget will be public as I have mentioned before.
If things go really badly for ST, he might be able to keep on top of progress from over the fence:
hxxps://mb.com.ph/2024/1/16/pcg-eyes-new-headquarters-in-bilibid |
Lav's post confirms that the wheels ( finance)are moving in the direction of the PCG's
programme of spending $1 billion on its maritime domain management, over 10 years. There is a strong possibility that the first stage is currently being prepared with philgeps. This will have many interested parties bidding, as well as SRT.The BFAR system is nearing completion with a small number of towers in the final stage.
SRT has a large advantage over competitors. The philippines fishing vessel owners and government will eventually come up with an agreement and the transponders will be fitted and monitoring will commence. If the PCG system is SRT, it will be able to communicate with the BFAR SRT system. Competitors relying on satellite have high annual satellite costs. |
This is unusual and promising - assuming SRT is in the running. It is also confirmation that some of the PCG's projects are in the budget for 2025. It is the executive that prepares the budget, the House agrees or amends it but has no role in scoping projects.
It is unclear whether the PCG's plans will be made public, but we will see. |
Interesting read across on the mechanics of the Export Guarantee Scheme
Titanic shipyard risks closure after 160 years
hxxps://www.thetimes.co.uk/article/84a837b2-d6e7-41d4-b284-f5f274551142?shareToken=d9cee10c3b887d1d390a52a18940b765 |
People using “lol” have never said anything remotely funny.
Lol |
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