Srt Marine Systems Share Discussion Threads

[lavalmy] 21/6/2020 15:52

SRT will be relieved not to have to reconfigure their AIS for yet another positioning system.

[countryman5] 21/6/2020 15:09

JEDDAH: The return to normal life across the Kingdom is set to begin on Sunday, June 21, after 73 days of a nationwide lockdown imposed on April 8.

Following the statement issued on May 26, and based on the reports of the authorities regarding measures taken in light of the coronavirus disease (COVID-19) pandemic, the Saudi Ministry of Interior stated that a royal approval had been issued that stated the nationwide curfew was to be lifted across the Kingdom from Sunday, June 21 at 6 a.m.

[lavalmy] 19/6/2020 06:46

Probably better not. This shower seem to have a habit of backing wrong horses.

[pinkfoot2] 18/6/2020 21:22

I reckon zero-the company has a substantial amount of tax losses

[countryman5] 18/6/2020 20:30

LAV. Thank you for your thoughts.
I note the merger of Foreign Office with DFID.
Some wishful thinking.
FCO focuses on restraining China. It offers countries that are in the line of fire a subsidy to install MDM systems. It will be sold on combating IUU fishing and therefore helping lots of fishing communities,
If UK gave a 20% subsidy, the Chancellor would get a lot of the outlay back in corporation tax, shareholder dividend tax and CGT on share price rise.There is also the income tax that will be received on employees salaries. On a £50 million project, this would require £10 million subsidy. Any thoughts on the tax that would go to UK Exchequer?

[lavalmy] 18/6/2020 15:48

Not the foggiest really C5. It all depends on milestones and timing of execution. £14 million is ready to go to Saudi as revenues for the hub. The rest subject very much to ability to travel round Saudi installing coast stations and transponders - that lot should total some $45 million. We know Saudi is feeling the pinch, but the payment terms as per the webcast were that soon after installation and invoicing that £14 million would be paid (and before carrying on with the rest of the project).

Kuwait is mainly transponders, so six months after the contract is signed at a minimum. More importantly is the payment of the outstanding and completion and payment of the accrued, which again is the hub etc.

The Philippines has mostly been recognised last FY. I think the cash due in SRT's financial year is £17 million, but little of that is revenue, maybe £1 million or so, and of that cash inflow 40% is due to the local partner.

So in terms of revenues not much may be. Some £15-25 million? In terms of cash flow, lots. £10 million in from the Philippines, $5 million from Kuwait, both without significant outlay, and a net of £7-8 million from Saudi's hub, assuming they have deferred paying for the hardware. So over £20 million in from that lot.

Against that will be outlays for coast stations in Saudi and transponders in both, none of which will be incurred until after signing and a lot not too long before invoicing and then payment.

And then the overhead, reduced somewhat in these last months, and a contribution from Emtrak/OEM towards that of £2-3 million.

Overall, it looks quite good, particularly balance sheet wise, and I am sure that given the circumstances people will look through the virus timing issues and be more than happy that contracts have been signed. It is still in its infancy, after all

The Phillipines new project could dwarf all that, so I am still keping an eye out for news there.

[countryman5] 18/6/2020 13:30

GA,
At some stage the Philippines system will be showcased to the Western and Central Pacific Fisheries Commission. I suspect many countries, including Vietnam and Indonesia will be waiting to view the reality of the SRT system. My understanding is that the Geovs system has regular updates with new data streams added with every update. At some stage (probably after the Saudi and Kuwait contracts are announced)we will have another webcast from ST. It would be good to hear what the latest Geovs update delivers. I am hoping that Finncap will deliver a forecast for this year when Saudi and Kuwait are signed.
LAV. You have a good handle on the figures. Do yo have some possible ball park figures for this year if Saudi and Kuwait are signed, Philippines continues with its regular cash payments and Emtrak etc deliver an increase of 20%?

[lavalmy] 18/6/2020 11:23

Except for a few things, international flights included. And yet new infections are at a high.

[goodapple] 17/6/2020 21:08

I am looking forward to the day when the Philippines can broadcast a similar account of successful identifying, tracking, apprehension and prosecution of illegal vessels thanks to their all-singing, all-dancing MDM system from SRT.

[yump] 17/6/2020 11:26

Effortless cool

Lucky then getting free research notes.

[piedro] 17/6/2020 10:49

enjoy ...

The hunt for the fish pirates who exploit the sea
By Richard Gray - 5th June 2020
For 10 years, a rogue fishing vessel and its crew plundered the world’s oceans, escaping repeated attempts of capture. Then a dramatic pursuit across the high seas finally netted the one that got away. .... ....

[effortless cool] 16/6/2020 15:00

No, actually, yump is totally wrong (as usual). Back filtered again.

I have been directly accessing the finnCap research for months now and have not received any spam or, indeed, any contact of any sort as a consequence.

[lavalmy] 16/6/2020 13:03

I found the last paragraph interesting:

'Spain will open its borders to so-called third countries, which are not part of the Schengen area, from 1 July - providing their epidemiological situation is similar to, or better than, that of the EU, that they show reciprocity when it comes to travel, and that they agree to certain health conditions.'

It would seem to be a model that will spread. I don't expect the UK quarantine to stand much longer, so they will revert to this more sensible approach. Kuwait, Bahrain and Saudi are still on the up, much but not all of which is in the migrant worker populations. The public in Saudi don't seem to be wholly behind social distancing and there is little the government can do. Perhaps there is a level of complacency concerning the death rate which remains very low. In any case, I can see a move towards a sort of apartheid system with e.g. Saudi nationals being allowed in and out and Europeans and others as well. We shall see.

[pugugly] 15/6/2020 17:14

yump - You are so right -- Remember - Remember -"Caveat Emptor"

[bagpuss67] 15/6/2020 13:42

Thanks. Have read back on this thread too and seen some helpful extracts.

[effortless cool] 15/6/2020 12:46

Bagpuss,

You can register with Finncap as a "sophisticated investor" or something similar, and get access to their research notes.

[bagpuss67] 15/6/2020 11:45

Monring all. Does anyone know if the Fincapp broker notes can be found in the public domain. Thanks.

[goodapple] 15/6/2020 10:12

Dismal start to the week. We need some (positive) news. A crumb of information, a new photo on the gallery. Something.Things may well be hectic at MSN, but we on the outside need a morsel now and then to sustain us as we scan the horizon, all the while wondering is that jam still safe to eat?

[pinkfoot2] 11/6/2020 18:14

I’m talking about the last few years Lav-we all accept the issues with the virus, particularly on installation

[pinkfoot2] 11/6/2020 18:13

I’m talking about the last few years Lav-we all accept the issues with the virus, particularly on installation

[lavalmy] 11/6/2020 17:38

Did you hear of a virus going round?

[pinkfoot2] 11/6/2020 17:21

That’s all well and good Lav but a VSP is not valid currency-patience is starting to wear thin again