Samudera

Re: Samudera

Postby behappyalways » Thu Apr 05, 2018 3:50 pm

Their assets are at least not overvalued which meant NTA is real

VESSEL DISPOSAL UNDER THE DISPOSAL MANDATE
http://infopub.sgx.com/FileOpen/Disposa ... eID=496094
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Re: Samudera

Postby joelmann » Sat Jun 30, 2018 6:30 pm

I ´ve been following your comments on Samudera. I would appreciate you could help me with some doubts I have on Raffles Quay where company has its office in Singapore. They bought it (30.000 sq/ft) for 40M$ in 2006 at 1.333$/sqft. In august 2006 the sold 1 floor for 14.6MSGD (11MUSD).

- Do you know many sq feet are they still owing after the sale?
- What price do you give to sqft in that location? According to this (https://www.prnewswire.com/news-release ... 39094.html) price doesn’t seem to have raised too much since 2006.

- On the other hand, I find the 25% share they have on TANGGUH TOWUTI (joint venture) a kind of hidden asset. Do you have an estimate value for this share? I think it could be about 20M, given the fcf is generating and that it is based on a long term contract.

Thank you

Keep tracking your comments ;)


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Re: Samudera

Postby behappyalways » Tue Jul 03, 2018 5:16 pm

If I am not wrong they are left with 20,000 square feet which the company is using as their own office space of which a certain portion is rented out. (See rental income).

The price psf for the office space around the area is about $2000 to $2500psf but since the company is using it as office premises so there would not be a sale and the property will be book at cost.

On Tangguh Towuti. The depreciation would have run down the value of the investment
http://samudera.listedcompany.com/newsroom/LNG_JV.pdf.

There was a change in accounting policy for FY2018 so the NTA got written down. But since all these years the company was able to dispose assets with minimum loss or even with profits, I think assets are way about current market cap.

I am not too happy with the lack of share buyback.


joelmann wrote:I ´ve been following your comments on Samudera. I would appreciate you could help me with some doubts I have on Raffles Quay where company has its office in Singapore. They bought it (30.000 sq/ft) for 40M$ in 2006 at 1.333$/sqft. In august 2006 the sold 1 floor for 14.6MSGD (11MUSD).

- Do you know many sq feet are they still owing after the sale?
- What price do you give to sqft in that location? According to this (https://www.prnewswire.com/news-release ... 39094.html) price doesn’t seem to have raised too much since 2006.

- On the other hand, I find the 25% share they have on TANGGUH TOWUTI (joint venture) a kind of hidden asset. Do you have an estimate value for this share? I think it could be about 20M, given the fcf is generating and that it is based on a long term contract.

Thank you

Keep tracking your comments ;)


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Re: Samudera

Postby behappyalways » Sun Aug 19, 2018 3:49 pm

RCL, one of Samudera's closest competitors. The container industry is suffering from low freight cost and high bunker cost. Samudera is still profitable and capturing sales with higher TEUs.


https://www.rclgroup.com/news_post.aspx?id=NEWS1180
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Re: Samudera

Postby behappyalways » Sat Oct 27, 2018 6:16 pm

Good 3Q result with more than 40% increased in container volume handled. The increased volume helped to mitigate the falling freight rates which is industry wide. When freight rates turn positive, should see a surge in earnings.


Container volume handled increased 45% year-on-year to 405,000 TEUs in 3Q18, from 279,000 TEUs in 3Q17. In line with this, container shipping revenue rose 26.9% to USD109.0 million, compared to USD85.8 million in 3Q17.

3Q2018
http://infopub.sgx.com/FileOpen/Samuder ... eID=530813
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