Wow, no wonder the share price has been going up |
 Congratulations to Simon Tucker and his team at SRT Marine. This recent contract award is the result of an enormous amount of work. However, some might say that the hard work has only just begun! SRT is now the undisputed global leader in Maritime Domain Management. Airbus , Leonardo, CLS and others are merely spectators. When Indonesia and Saudi contracts start later this month, the cash will be flowing to MSN in abundance.
SRT is now a rare beast on the UK stock market. It is a fast growing, high technology company, which is the global leader in its area of expertise. If the major shareholders keep their nerve, hopefully it will remain independent for some time. Although the CEO has to make everything happen, there are some key players who are indispensable. These include Neil, Richard and Louise, who have been on board for many years. Thank you.
We now know the winner of the SRT stakes at MSN.(Winner not allowed to be identified) Who will come second, third and fourth out of Indonesia, Saudi and Bahrain? I note the words in contract 'fixed and MOBILE sensor platform'. Is this the first outing for Ocean infinity? They have clearly picked a winner with their 8% stake in SRT. Not only have they chosen a rising star on the UK stock market but their 8 % stake puts them in poll position when the group of large shareholders agree to sell (£500 million market cap?) Fortunate are those who find stock today. ST of Investors Chronicle usually posts on line on Tuesdays and hard copy Friday. |
Morning all... |
AE
You can see from that why I want to ask Hurd what their effective rate might be for transceivers and systems.
I was struck in the webcast about how Kuwait were putting in a system that uses all the functionality of GeoVS, before he got all coy about what it would actually entail. Once installed, clearly there would be scope for recurring revenues, but I reckon that the richer neighbours will want one too with all the bells and whistles. I am thinking particularly of KSA. |
For info, this is how the Patent Box scheme works |
UKEF does have a Country Head based in Saigon and cover of up to £5 billion. Conversely, they do not have one in the Philippines, despite having advertised for one to start last January and whose brief was to include Vietnam. Mysterious ways.
Edit. I see now that the Malaysian Country Head covers the Philippines and Thailand. Budget cuts?
I know that SRT had been working towards some potential UKEF involvement in the Philippines but whether that has come to anything I do not know. Perhaps for the AGM. |
Kuwait in the lead for a RNS?
FT 3/10/24 'Vietnam and China Clash'. Several Vietnamese fishermen have been severely injured...... They used to be buddies; not any more. I suspect that they are talking with SRT, but do they have the money? Would UKEF underwrite a loan to communist Vietnam? |
This new job just posted to go along with the regional customer success manager(3 days ago) in Kuwait
The Program Manager role is to ensure the successful implementation of the SRT-MDA system. The successful candidate will be expected to represent the company in-country to the end customer and work alongside the company’s in-country installation partner to ensure full and complete system installation and commissioning.
The role exists within the company’s Systems Delivery Team and will report directly into the Head of systems Delivery and will be responsible for managing In-Country Partner (ICP) to deliver, install and commission SRT’s Maritime Domain Awareness Systems.
The successful candidate will be based in country (Kuwait) |
When the four contracts (Saudi, Indonesia, Bahrain and Kuwait??)are ‘over the line’ and the brokers note is out, will there be any sellers at less than £1? |
Re: patents. I had one once and the reason was not to prevent others copying but mainly to stop others copying and then stopping our company from selling the product by tying us up in legal knots, because we didn’t have a patent. Particularly as we were a small company and a large business could throw resources at it to make life very difficult if we didn’t have a patent. |
LaV, as you recognise, some folk only appear when they sense a weakness from which they can profit and try to scare others to unload stock to help lower the share price I've long since had that one filtered as just such a troll. I very much hope he/she gets badly SHORT circuited. I also hope all genuine SRT investors enjoy the weekend and what the future holds. |
Good lord, we have a trader in our midst.
I sincerely hope that 'homeboy' who I suspect of shorting SRT when the share price is already weak and then posting very negatively on here has shat his shorts. If he were remotely clever or confident he would short when the price was high. |
I am dopey but happy :-) |
AE
They have done but on what exactly I don't know. There was the case when they bought the time slot patent to try and screw up Vesper's business, but that is not what I am on about. So if it is GeoVS or the transceivers it makes a difference (or even both).
The scheme itself is fiendish (was it G Brown?). But the gist is that profits above a normal rate of return, defined as 10%, can be effectively taxed at 10% as opposed to 25% now if they have a patent in that income stream. In SRT's case, the majority of the systems business profits should be protected if it applies to GeoVS. But either Hurd or even their tax advisor might be able to demarcate what profits might be eligible.
Edit: I should have mentioned that SRT themselves have talked about the patent box. |
Interesting idea LaV but do SRT actually take out patents? AFAIK, ST thinks they are a waste of money because they are too expensive to enforce amongst other objections. |
It sounds pretty dopey to me if people bought on what they heard on the webcast. There may have been few traders who got in with charts or whatever, but otherwise there is some pretty scale-changing news in the short-term. What has happened so far to the share price is merely regaining some of the ground lost because of the delays. I expect all of that to be regained once these three start and much higher prices when the Kuwait deal is signed. If, as I have previously maintained, some will cash in their chips at the 60p area due to SRT fatigue, it will be short-lived (and they will live to regret it).
If I do get to the AGM, I will try to collar Hurd to try to fathom how much benefit they can get from the patent box scheme, as it looks likely that they will be making significant profits and of course the mainstream CT rate is now at 25%. |
Eventually the market will wake up. I can understand some PI's selling out now, as the saying goes 'it is never wrong to take a profit' . |
I would say that Thompson will be a bit behind the curve on this unless he listens to the webcasts, as will many others. But what will really grab attention is that after a long wait for $220 million worth of business, along comes almost the same again relatively unexpectedly. When that lands, I expect the broker to adjust upwards from their previous (now suspended) target of £1 to £1.50 or so. Not much point in us guessing what the P&L will be given the lumpiness, but at 30% GM that little lot gives a contribution of £100 million. |
There wasn't an article about SRT in this week's Investors Chronicle, but not surprised as we don't have any RNS's issued yet. |
supernumerary, great stuff, I've learned something today. |
LaVal - interesting article, thanks.
[Just for interest you don't need the at all, it's a now-outdated convention. So I just put the cursor on the line, triple-left-click, which selects the whole line, right-click to get the options menu, then go down to left-click on 'go to thediplomat.com...' and it opens the link in another tab. Sounds complicated but is actually simpler than manually selecting.] |
@LaValmy:
The article concludes
"A well-funded and well-equipped Bakamla is needed to confront Chinese incursions and any other maritime security challenges that might emerge in the future"
I think we can agree with this - and in the view of the article this is the only way to avoid the Indonesian Navy being involved, the consequences of which, are of advantage to the Chinese at the moment. |
thediplomat.com/2024/10/gray-hulls-in-the-gray-zone-indonesias-conundrum-in-the-south-china-sea/
You have to add the
Makes a strong argument. It suggests to me that there is some debate in Indonesia about Bakamla's future. |
Ceremony and a nice lunch all round, hopefully not like the dinner in Indiana Jones ;-) |
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