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Samudera Shipping
27-04-2017, 04:56 AM.
Post: #71
RE: Samudera Shipping
Analyst report from KGI on Samudera on 26 April 2017.


Quote:Samudera declared a 0.5 SG cents dividend vs our forecast of 0.3 SG cents for
FY16. FY16 core net earnings came in within expectations while it is proposing
a share buyback mandate and vessels disposal at its upcoming AGM/EGM on
April 27. We view these moves as positive and raise our TP to 26 SG cents, a 38%
upside to its current share price. We believe that Samudera’s strong balance
sheet (near net cash by Dec-17) may present it ample opportunities to ride the
upside as the macro outlook improves and freight rates stabilise.
Well positioned to take advantage of recovery; maintain BUY. We believe
Samudera’s strong balance sheet and healthy cash flow generation places it in a
good position to benefit from the opportunities in the region (e.g., LNG projects,
chartering in vessels at lower costs while freight rates recover). We also see
earnings at trough levels in FY16 and expect it to recover from FY17 onwards. As
a result, we maintain Samudera with a BUY and a TP of 26 SG Cents, pegged to
0.4x P/B (10-year historical P/B average).
Proposed share buyback and vessel disposal mandate. Samudera is planning to
dispose a total of six vessels (four container vessels, two oil tankers). Four of the
six vessels were loss making in FY16, and the disposal would help improve
earnings by around 5%. We expect the vessels to be sold at book values with no
negative impact on NTA. Samudera aims to gradually sell/scrap its Indonesian
flagged vessels and focus on its international routes from and to Indonesia. To
ride on future Indonesian growth, it will instead take a minority stake in an
Indonesian company which provides domestic shipping services.
The last share buyback that Samudera did was in May 2009; the recently
proposed share buyback mandate would allow it to buy back a maximum of 10%
of the issued shares. Samudera is also expected to release first quarter results
on this date (based on last year’s announcement), which we believe may
surprise on the upside given that freight rates (Figure 2) have stabilised in 1Q17.
Positive signs on the macro outlook. The IMF raised its global growth forecasts
from 3.1% in 2016 to 3.5% for 2017, the first since 2007 that it has lifted
expectations. Meanwhile, global trade tensions have eased as fear of trade wars
(specifically between China and the U.S.) have not materialised.
Key Risks: Oversupply in container vessels or a drop in global trade due to
increased protectionism may negatively affect shipping rates.

https://www.nextinsight.net/story-archiv...april-2017

Vested.

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18-10-2017, 10:57 AM.
Post: #72
RE: Samudera Shipping
Analyst report from KGI on Samudera
https://www.kgieworld.sg/resources/ck/fi...171016.pdf
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28-10-2017, 03:45 PM.
Post: #73
RE: Samudera Shipping
Their property is undervalued but ship values should be ok as can be seen from the recent sale of excess ships
http://infopub.sgx.com/FileOpen/Disposal...eID=475508


Samudera 3Q2017 Result
https://www.theedgesingapore.com/samuder...r-shipping

https://www.kgieworld.sg/resources/ck/fi...171027.pdf

Rates inching up???
http://en.sse.net.cn/indices/seafinew.jsp
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28-02-2018, 07:47 PM.
Post: #74
RE: Samudera Shipping
1Q2017 Revenue $62.700m
Loss $0.859m

2Q2017 Revenue $71.218m
Profit $1.986m

3Q2017 Revenue $69.666m
Profit $0.483m

9mths2017 Revenue $203.584m
Profit $1.61m


9mths 2016 Revenue $195.375m
Profit $0.924m


FY2017 Revenue $283.701m
Profit $5.938m

FY2016 Revenue $260.466m
Loss $5.428m


4Q2017 Revenue $80.117m
Profit $4.328m

4Q2016 Revenue $65.091m
Loss $6.352m


23% growth in revenue in 4Q
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05-04-2018, 03:51 PM.
Post: #75
RE: Samudera Shipping
Their assets are at least not overvalued which meant NTA is real


VESSEL DISPOSAL UNDER THE DISPOSAL MANDATE
http://infopub.sgx.com/FileOpen/Disposal...eID=496094
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03-03-2019, 03:49 PM.
Post: #76
RE: Samudera Shipping
There is an impairment of $523kk on invesment in preference share and equity.

Another victim of Hyflux???

https://links.sgx.com/FileOpen/Samudera_...eID=545652
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09-03-2019, 06:45 PM.
Post: #77
RE: Samudera Shipping
(03-03-2019, 03:49 PM)Behappyalways Wrote: There is an impairment of $523kk on invesment in preference share and equity.

Huh  Can't see anything of the sort, equity stays flat.

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11-03-2019, 07:45 AM.
Post: #78
RE: Samudera Shipping
Page 2


(09-03-2019, 06:45 PM)Gaudente Wrote:
(03-03-2019, 03:49 PM)Behappyalways Wrote: There is an impairment of $523kk on invesment in preference share and equity.

Huh  Can't see anything of the sort, equity stays flat.
You can find more of my postings in http://investideas.net/forum/

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