Srt Marine Systems Share Discussion Threads

[goodapple] 06/7/2020 13:03

Sorry LaV, I live too far away from Vietnam.

[lavalmy] 06/7/2020 11:51

Thanks goodapple. So nothing from the horse's mouth as such?

[goodapple] 06/7/2020 11:34

LaValmy
I understood Vietnam to be one of the most successful countries in early shutdown to contain the virus and keep the lid on infections and mortality.
Presumed therefore that the urgency of monitoring their fisheries both for the EC and for their own population would be such that the SRT project (if indeed there is one) would by now be progressing towards signatures on paper.

[lavalmy] 06/7/2020 11:09

goodapple

A couple of times you have mentioned Vietnam as potentially progressing. Have you any info on what the position is or was pre-Covid?

[goodapple] 06/7/2020 09:01

Metrology: noun
the scientific study of measurement.

( I had to look that one up )

[countryman5] 06/7/2020 09:00

Lav. Well spotted. I suspect someone to head up the new 'environmental systems'. The business has to keep growing.

[lavalmy] 06/7/2020 08:20

I keep an eye on LinkedIn as something of a barometer on activity/employment. SRT has been stable since the beginning of the pandemic and now I notice a new hire just started, one Warren Lester who proclaims himself to be an:

'Experienced Product Manager with a demonstrated history of working in the computer animation, virtual and augmented reality and human computer interaction industries. Strong engineering professional skilled in Product Lifecycle Management, Metrology, Product Management, Software, and Ergonomics'

It could of course be a replacement for someone who has left that wasn't on Linkedin. Overall though you wold have to say business as usual.

[supernumerary] 05/7/2020 20:15

Another view on OneWeb:

[pinkfoot2] 05/7/2020 13:22

Hi

Fine words Countryman but they could have been written 5/6 years ago.We still await the breakthrough;by that I mean turning a regular cash profit.It does feel real this time but who knows?

The 2020 accounts are due soon-they should tell us a lot about cash collection, notably Kuwait.Until then, talk of dividends and buybacks should be put on the back burner

[countryman5] 05/7/2020 12:41

Yes, I am an optimist with this one.
I have been visiting MSN for several years and not just for AGM's. I have met various members of the team and am truly impressed by their enthusiasm and commitment.There is very little turnover of staff. I went to the trade show in Amsterdam last autumn to further understand the company and its future plans.
Apart from the team, I believe that they have created a unique global product that does not have a competitor. It is what Warren Buffet would call an 'economic moat'. The years of upgrades that underpin Geovs can only be obtained by buying the company. Throwing mountains of money to try and replicate the software will not work. It would take years of dedicated expertise and in the meantime SRT would keep moving ahead.
Some might criticise Mr T because he runs the company as if it were his own but his willingness to engage with shareholders sets a shining example. Is he over enthusiastic? Clearly so but he is a consummate salesman who inspires others with his vision.
I believe that there is much more potential still to come. Is the VSP over optimistic? I suspect so but I can see enormous potential for the planned 'Environmental systems' that are in the planning stage. The number of opportunities for mounting ATONs on buoys and feeding back information to ports and waterways in a customised package might well make the current MDM systems seem like chicken feed.

[lavalmy] 05/7/2020 12:17

The South China Sea is hotting up again with the US sending a fleet. Additionally, ASEAN got its act together to insist that the boundary issues be dealt with under the 1982 UNCLOS parameters - the Philippines had its claim up held by the UN although Duterte let it drop. But it is the first time that ASEAN has collectively said something on this issue. China is throwing its weight about a lot just now (and not making any friends) to wit Hong Kong, India as well as the South China Sea, possibly taking advantage of the viral outbreak, possibly whilst Trump is still around. Of course, Vietnam and the others will always have to deal with China on their doorstep so will not be happy with a bamboo curtain strategy of containment, but it certainly looks like resolve is stiffening.

Edit: As I said before, I don't think they will finalise the accounts until there is clarity on the Saudi contract. There is no legal reason for them to do so in July, but can hold off for six months, so end of September. Though I would expect them to update the market about the various uncertainties.

Edit: That has now been extended by another three months so December theoretically would be the limit.

[countryman5] 05/7/2020 11:40

Vietnam and its fishing neighbours will be waiting to view the Philippines system later this year. This will be the first low cost global fish monitoring system and I suspect that the numerous upgrades of Geovs will provide an impressive offering. Yes I am an optimist. Some of us may not be fans of the EU, however, it is the EU that will be driving these countries to install MDM systems because of their major fish exports to the EU.

[goodapple] 05/7/2020 10:27

C5: I always enjoy your upbeat assessments of where we are, even though I do not always share your degree of unshakable optimism.The annual report should be out in the next couple of weeks and the statements from Mr T and the chairman will make interesting reading. I trust we will learn more about Vietnam, which I understood to be a probable.

[countryman5] 05/7/2020 09:15

I imagine that most people reading this page are waiting for contract news from M/E. I am assuming that we will then get broker's numbers for this year. Anecdotal evidence suggests that the yachting market in the EU and US is booming following people's desire to escape from C19. I am assuming T/O of £10 million for Emtrak. OEM and ATON. I am also assuming £10+ more cash from BFAR and £10+++ from M/E this year. If we pitch a conservative T/O at £30 million and allow £16 million T/O to service overheads, we could have £6 + million PBT. The number crunchers should give this fast growing tec company a PE of at least 25. If the inevitable takeover approach is factored in the market should rate this one on a possible 35PE. If the above is correct the share price appears slightly out of line!!!!
DEBT.
If the above comes through, debt will soon be erased. I imagine that they will want to achieve a cash buffer of at least one year overheads before returning cash to shareholders. Will it be dividends or share buy back?
The shareholder register of this company suggests large holdings by PI's who are probably not willing sellers. If / when this one starts to receive publicity, where are the shares coming from?
Simon Thompson of the Investors Chronicle will be saying 'I told you so'

[esteban1] 03/7/2020 17:37

You could be right, however, i've just read that HMG have given a £25m contract to supply medical PPE to a company yet to trade.....
With OneWeb we could end up with a free satellite constellation. ;-)

[lavalmy] 03/7/2020 16:00

Why did OneWeb go bust in the first place? Exactly what experience do Johnson and Sunak have in backing start-ups? Their system is designed for internet provision by the sound of it and not for positioning. One of my nephews was leading one of the ventilator projects and what a shambles that was - only UK parts because it was to be a Brexit special, specs changing as often as these air bridges have of late, only to be overtaken by reality. No SRT should stay well away and devote their scarce resources to what they have proven they can do within the technical straightjacket of AIS and keep the bulk of their system terrestrial.

BTW the ventilators have been repurposed for use in Africa where the mobility that was initially required in the UK specs (and changed because that would upset other requirements added later) is actually very useful.

[esteban1] 03/7/2020 15:12

With the UK Government's buy into the OneWeb project, maybe good old SRT can provide the much needed sat nav element

[lavalmy] 30/6/2020 10:43

Kuwait is to restart international flights from 1 August, at 30% capacity. How that interacts with other countries allowing them in is to be seen. Certainly, the methodolgy of EU's new list of countries to and from which travel will be allowed would suggest that none of the three in the Middle East currently qualify.

[lavalmy] 26/6/2020 18:46

Just hoping that SRT stay well away.

[pinkfoot2] 26/6/2020 16:23

Well plenty did mate

[hjb1] 26/6/2020 13:39

do me a favour! Did anyone ever believe in that daft VSP rubbish, surely not?

[pinkfoot2] 26/6/2020 07:51

Well we have reached that time in the regular cycle when questions start to be asked again about the VSP-and usually ST pulls something out of the hat so here’s hoping.The accounts filing must be due soon and may give some news

[fft] 26/6/2020 03:32

Has an 'imminent' project ever happened ? I seem to recall that Philippines came out of the blue and wasn't even on the VSP !! (Or was that Indonesia ?).Either way the VSP has been a huge distraction over the years. It's kept shareholders happy (especially the way it increases) and provided cover for ST.