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Well what we got was a pretty standard webcast with no Chairman. The Saudi contract accelerated plus already engaging in upgrades, the 130 Mill contract hinted at (twice?) and component shortages' while ongoing were not to problematic. Importantly all seems well anyway and the VSL is progressing.
I remember SRT saying some years ago, in a webcast, that an aim might be to get the transceiver side revenue to cover the whole running costs. Perhaps a little ambitious but if one adds in the ongoing revenue from the ongoing data transmission fees (which were non-existent then) there is a possibility that with Nexus this could actually happen. Imagine contract margins dropping straight to the bottom line! Onwards and upwards I think.
Thanks for the info extrader. I don't think SRT will give any specific pointers to this but it will be interesting to see if it is mentioned and how much emphasis is put on it if so. There are 2 points that have interest for me, one is the state of the VSP and the electronic chip situation is the other. As an aside apparently captured Russian amour vehicles have some domestic white good chips as Russia is unable to import the ones it wants! So perhaps there's more for the rest of us!?
The trouble is that SRT can do nothing about either of them. Should get an update on Nexus which SRT was quite bullish about at the AGM. One final point is that the tone may well be different from the quarterly webcasts which in itself will be interesting. I'm looking forward to it as our story now is a good one. If we land 2 contracts in the next 7 months then all our troubles will be over and gosh the prospect of a divi will rear it's head by next March - can't believe it!!!
Hi TT,
My understanding is that Blue book is wishlist (unspecified sources of funding) and green book the better defined /more advanced.
You point rightly to Spain (but I think 61, not 64 ?, at $ 160m)) for which there is also a phase 2 (Spain/France) at $ 200m.
LaValmy earlier acknowledged the overlap, but points to the overarching 'coordination' terms of reference of Bakamla, see an earlier post of his (12 April):
.." think I may have missed the relevant project in the blue book issued by Bappenas. The one that SRT are actively pursuing is with our old pals Bakamla on pages 194 onwards.
This specifies one primary command centre with a back=up and 35 'packages of coastal stations'. All quite vague really, but the total is US$180,000,000 which is the £130 million being talked about.
What connection that has with the other projects on pages 124 and 131 for the fisheries surveillance program I don't know. These two total $162 and $200 million respectively and include lots of different things. But to my mind it would be daft to have and not use the Bakamla backbone. The objectives of the Bakamla project are:
a. To integrate the national maritime early warning system among related maritime security stakeholders;
b. To strengthen coordination among related maritime security stakeholders;
c. To enhance the efficiency and effectiveness of law enforcement in Indonesian Waters and Indonesian Jurisdictions.
It would seem co-ordination would indeed have a spillover effect on the specifications of these other projects. I understand that SRT is in pole position on the Bakamla one though that is no guarantee that the government will chose them. What will be key is what the specifications are in the tender as it is this which pre-determines the winner. The tendering process may start in a couple of months, though I don't know how much information will be easily available - I understand that the tender will be closed to only three potential bidders...."
I'm passing this on in good faith, for greater clarity perhaps you'd be better contacting him directly for any further insights he may have.
ATB
Hi extrader, Just had a look but also noticed No 64 which seems to be a similar project but appears to have Spain as the country involved? Not to sure about the Green Book - just because a project is on it, is it certain to go ahead? I hope it's not just a wish list?
Hat tip to LaValmy for this, which may be hinted at in the webinar (Indonesia)...
.."Talking about over-promising and under-delivering, Bappenas has just delivered the Green book for 2022.
hTTps://perpustakaan.bappenas.go.id/e-library/file_upload/koleksi/migrasi-data-publikasi/file/Blue_and_Green_Book/Publikasi%20List%20DRPPLN%20(Green%20Book)%202022.pdf
No 84 on the list is Bakamla's project for $180 million. Now, of course, that is no guarantee that the project will necessarily go to SRT, but, given that the Germans, UK, Norwegians and French are all providing the finance, it must be binary as to whether it is SRT or not. I don't know how long it will take to contract, months probably but before the New Year, so they will not be able to announce anything until then, but anything in the broker's note or even next week's presentation about their confidence levels will indicate whether it is in the bag or not. My guess is it is...."
SRT CEO, Simon Tucker and CFO, Richard Hurd will present the company, the opportunity, how they are executing on strategy and the outlook.
Wednesday, 18 May, 4:00pm
Join us here: https://bit.ly/SRT_webinar