Samudera Shipping

[greengiraffe]

For NOL, part of its problems is due to management. Other shippers are still profit making while it is not. It bought new ships to save on bunker and then bunker price crashed. And the company has to increase depreciation  due to new ships. Temasek has to understand  warships and submarines are different  from commercial ships. An admiral might not be suitable to handle commercial  fleets.

As for Samudera, if the management  are smart they should follow PCL (Pacific  Carriers). Delist when shipping is down and list again when the sector is hot again. Anyway the NTA is about 70 cents if one revalued its office properties.

I c what u mean...

u have a good ride on samudera then...

[Behappyalways]

FY2015
http://infopub.sgx.com/FileOpen/Samudera...eID=391124


1Q2015 Earnings $6.12m
2Q2015 Earnings $3.113m
3Q2015 Earnings $1.205m (inclusive of $2.579m provn)
FY2015 Earnings $4.113m (inclusive of $13.739m provn)
4Q2015 Earnings -$6.265m (inclusive of $11.16m provn or $4.895m without provn)


1Q2014 Earnings $0.444m
2Q2014 Earnings $4.208m
3Q2014 Earnings $5.307m
FY2014 Earnings $14.281m (inclusive of $3.326m provn)
4Q2014 Earnings $4.352m (inclusive of $3.326m provn or $7.678m without provn)

$28.146m net cash generated from operating activities vs $46.556m a year ago
NTA US$0.46
Volume handled by grp's container biz was largely constant at 1.2m TEUs , even though the company had ceased its Indonesia
domestic business in the second half of 2015

To add a note, RCL Grp which is Samudera's closest competitor made a loss in 3Q2015.

[Behappyalways]

Earning was lower as expected because last year 1Q was exceptional. I expect 2Q onwards to see earnings on par or better than previous corresponding quarters. 1Q affected by higher charter in-rates which I expect them to renew at a lower cost since most of their charter contracts are one year or less. That would improve the bottom line.

NTA is about $0.62 but net operating cash flow for 1Q2016 is US15m or 3.7 cents per share(Sing). For FY2014 and FY2015 operating cash flow are US$46.6m and US$28.1m respectively. This company is generating healthy cashflow and using it to reduce debts and which is why dividend payout ratio is high even though earning drops. My gut feeling is that if share price continues to be depressed then a privatisation is highly probably.


Samudera 1Q2016
http://infopub.sgx.com/FileOpen/Samudera...eID=401373

[Gaudente]

Samudera 1Q2016
http://infopub.sgx.com/FileOpen/Samudera...eID=401373

bah... revenue down 15% , gross profit down 26% and net profit down 50% ...I really don't understand where you see the silver lining ...let's just hope this junk doesn't erase all its paltry earnings with its sadly usual 4th quarter writedowns 

[Behappyalways]

From The EdgeSingapore dated 13 June

That excludes two significant strata office deals done in the quarter as well: the sale of the entire 13th floor of 6 Raffles Quay for $28m ($2,764psf)


Samudera currently owns 2 floors of 6 Raffles Quay. (which at current price is already half the market cap)

Thanks.

If I am not wrong, they sold off one of the floor. Left with 2 floors


See 08 August 2006 announcement
http://samudera.listedcompany.com/newsro.../year/2006

[ZZF]

Hi. Hope u can enlighten me pls. Is this property booked at cost? And under ppe n not investment prop?

[Behappyalways]

Booked at cost and under PPE

[ZZF]

Booked at cost and under PPE

Thanks! Granted that shipping is still in the midst of a mega down cycle but I agree this stock is still undervalued, given the asset mix.

[Gaudente]

http://infopub.sgx.com/FileOpen/Samudera...eID=414343  baaahh ... 2q revenue down 18% , profit down 41%   ... heyoh , heyoh , down the sewer we go....

[Behappyalways]

Share Buyback Mandate
http://infopub.sgx.com/FileOpen/Samudera...eID=447699


samudera-sell-six-ships-part-plans-exit-indonesian-domestic-trades
http://splash247.com/samudera-sell-six-s...ic-trades/