This reminded me that I forgot (Thank you Ho Ching) to also thank her for another Temasek special (massive rights issue at a huge discount to the existing price) that’s looking good.
Sembcorp Marine announces change in terms of Keppel O&M transaction
https://www.theedgesingapore.com/news/ma/sembcorp-marine-announces-change-terms-keppel-om-transaction
The share price tanked last year (It was already sick because of a previous Temasek special in 2020, followed by a really bad results) when Temasek did another special.
As I wanted good quality TLC penny stock exposure to the offshore marine and energy sectors, I bot a few shares and then applied for lots of rights shares at $0.08. I got filled to the gills.
The shares have been on a wild run: up to $0.138 and then back down to -$0.11 recently. I regretted not selling out at +$0.13. But I was going for $0.16 or more. After the above announcement, they are back to +$0.13. Riding the tornado like Pecos Bill: GameStop in charts: Riding the tornado
Usually when Temasek does a special, shareholders or new investors who participate make $. It’s money for jam. The downside is finding the cash to fund it. Not like Temasek. Need $, make a call to MoF and PMO if dividend income not enough.
Not always, Sembcorp Marine did an earlier rights issue at $0.20 in 2020. Everyone lost $ when it had a really bad set of results. Hence the 2021 rights issue. At that time I didn’t want exposure to the offshore marine and energy sectors, so I missed a bullet. Praise the Supreme Being. And yes, I made a charitable donation.
But I really shouldn’t be counting my chickens, tempting fate or the gods. Not taken profits. And no immediate plans to. I’ll ride the whirlwind on this ($0.19 says a broker) and hope to come out alive or belter still smiling. Why Wall St is a cowboy town.
Minority shareholders (those who participated in 2020 Temasek special) might reject the deal (one reason why the terms were changed).
And pray that I remain lucky. I’ll be getting more SembCorp Marine shares via Keppel distribution. Might sell these.
Investing tip: back Temasek’s corporate moves. More on this soon. Meanwhile think SATS: SATS: Temasek gives away another free lunch?
More on SATS from the archives: SATS — More Dividends or a Rights Issue?
Thoughts of a Cynical Investor 