Member Info for MikeGP

.. of the newbies on here may not realise is that a significant proportion of the shares in issue are held by a relatively small number of PI's,.. many of whom have been here for several years and understand the, as yet un-potential, of the business.

That is one of the reasons that the sp moves so dramatically,.. up and down,... on news, very poor liquidity.

I.m in on this hopeful rise; the 84,116 is mine.
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Like your style McDoule!

yrabs,

Financials at trading update for first quarter at the end of April. We should get some statement from the Tech division at that point as to the virus related orders.....--- just waiting for corporate America to wake up to the fact that this is going to get far worse before it gets better and the big banks etc., will want screening equipment in every foyer. Wall Street won't want to shut... and IMHO it won't want staff with fevers getting past the front door.

As we are a re-seller the profit isn't huge on this kit,.. but it opens doors in terms of corporate visibility and the ability to sell-add on's..ie why not screen for drugs/weapons at the same time. I can envisage that it all become the 'norm' at some point in time for us to pass through a screening machine as we enter larger institutions/venues whether they be publicly or privately owned or run. It is already happening and has been happening in some venues.

It still hasn't been possible to log the comings and goings of ships at the new port. That is a few days now,... but looking at the MPS schedule on line,..it looks as if container cargo's are planned to be back in dock from the 8th. Either the marine traffic site that I have been following-- marine traffic.com---- isn't allowing us to track as it has before,.. or my system isn't working,.. or something has been afoot for the past week.

Anybody's guess.

Best

.. something happening at Tema vis a vis the full handover of the 3rd berth. I've not been able to track the ship movements in and out for a couple of days. The marine traffic site that I use hasn't been showing ship names etc,... albeit there has been some movements. That isn't usual--- possibly some finishing off, work to plant etc., for the handover which is due at any time now?

Best

.... and how many public buildings, transport hubs, offices, factories, sport's and leisure venues are there in the USA who might be willing to spend £20K on screening equipment .. in order to protect/ re-assure peeps?

IMHO .. thousands.

Phil,...

If only we had a contract
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Therein lies the dilemma. Not having a contract isn't affecting the work that we are doing on the ground,... the on-going construction of the port facilities and the revenues that we are generating.

The lack of a contract affects the market perception and the sp..... sooner or later,... with or without a signed contract the numbers will be revealed in the trading statements etc.,--- at the end of April, for instance, we have the Finals,.. those should reveal the sales generated at Tema,... but it is so tedious.... ----hopefully we will wake to the red dot that we want on Monday,..... but i wouldn't recommend that anyone holds there breath in anticipation!!!

MTP...... by the end of the year... 1M TEU... yes. IMHO,.. I think that is definitely on the cards,..possibly conservative.

Vander,...

I haven't had a moan for a while,.. and it's grey and raining,... so....

Whilst I don't often agree with you(!) ... in this case I have too say that the continuous drip feed of promises that are rarely achieved has reached the point that it is undoubtedly harming the share price. How the Nomads allow WSG to say some of the things they say and continually fail to deliver, is beyond me; perhaps it is worth one of us contacting them to hold them to account; their lack of scrutiny and/or accountability in allowing WSG to put out these 'vague' statements must surely be bordering on negligence?

In the case of Tema,.. it almost beggars belief that it is circa 8 months since the '30 day' statement was made at the AGM; it is now only 4 months to the NEXT AGM! That simply cannot be right.

To be fair to the company, they did move swiftly and effectively to get the operations on the ground up and running and we have been told that we have been 'appointed', albeit they have provided no details of the 'appointment'. (I suspect that is because of the on-going negotiations between MPS etc., and revealing our T&C's at this time might prejudice discussions)... So we appear to have done all that has been asked of us and that is a credit to WSG . We know how crucial this contract is to underpinning our annual sales/cash-flow and potentially facilitating other MSC's of this type in country and further afield.

The Chairman, CEO and CFO have failed us, in so far as they have never stated explicitly that the timing of the contract signing has NEVER been within our control. They should have given details of the broader issues that needed to be resolved between MPS and the relevant bodies in order for MPS to be in a position to sign our contract and they should have then provided factual updates on those negotiations, as and when they happened. The continual 'nods and winks' in our trading statements have harmed the sp and our collective investments.

No more... "should/might/expecting."---. A factual update,...is all that is required. No more and no less.

We know that MPS and WSG have figures for TEU's scanned? MPS even released some figures last September. Why can't these be published on a monthly basis. In SL,... why has WSG stopped advising on precise passenger movements,.. despite repeatedly saying 'record' numbers etc.,? There is good news out there, factual news,...that they could publicise. The management really don't do themselves any favours.

Frustrating is an understatement.

March next week. Will they pull a March hare from the magician's hat?

...check out the photo in this link to see the size of the next berth, and the adjacent storage area,... which will be handed over by the end of March. The completion of the 3rd berth is the catalyst for MPS to wind down their ops at the existing port, handing over the operation of that area to GPHA; Hence, IMHO,... the last bit of wrangling over the '20%' etc., by the various interested parties. Whether our contract has been signed or not,.. we are appointed,.... the build work is continuing apace,..in fact,.. ahead of schedule and the number of ships that we are servicing is steadily increasing. To put that in to context,.. July 2019 we averaged circa 6-7 ships a week,.... we are now averaging 11 ships a week,....

The article says:

"..Between now and March 2020 and while ramping up operations on part of the Third New Berth, MPS shall start the final transition from Terminal 2 to terminal 3 and gradually wind down its operations at Terminal 2 which will be operated by GPHA."

http://mps-gh.com/tema-port-terminal-3-rolling-out-more-berthing-capacity-7-months-ahead-of-schedule/

..... as the sp crashes (not)..... the TEU's are being scanned!

Last few weeks saw us hit a new high of 13 ships processed in one week,.. and have averaged at 11 ships/week over the past couple of weeks. The last official news from MPS confirmed that 200m of the 3rd berth had been made a valuable and that they could now handle ships with 20,000 TEU capacity, they have also said that the 3rd berth should be fully handed over by end of March. so news/update should be forthcoming on that from very soon.

Friday 14th -Union Service and Navios Azure
Saturday 5th- Athena and Navios Azure
Sunday 16th- MSC Savona and Union Service and Port Gdynia
Monday 17th- Maersk Tema and Kota Lambai
Tuesday 18th- Seamax Stamford and Konrad Schulte
Wednesday 19th-Seamax Stamford and Sealand Illinois
Thursday 20th-Seamax Stamford and Sealand Illinois

Wk Fri 14th- Thurs 20th- 11 ships serviced

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Friday 21st- Frisia Amsterdam and Eleni T and Rita
Saturday 22nd- Maersk Chennai and AS Carelia
Sunday 23rd- ALS Flora and AS Carelia
Monday 24th-ALS Flora and Leto
Tuesday 25th- MSC Katyani and Montepelier
Wednesday 26th-Kyparissia and Cosco Osaka
Thursday 27th- Kyparissia and Cosco Osaka

Wk Fri 21st- Thurs 27th- 11 ships serviced

https://www.wsg-corporate.com/about-us/vacancies/
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Security Engineers

The Security Engineers role will be based in the Middle East and require candidates to undertake the installation and commissioning of Security Systems, IT Networks, Screening Systems and VMS Platforms.

The ideal candidate must have experience in servicing and installing a range of technical network systems and be able to communicate effectively with customers and clients.

Westminster will offer a competitive package with overseas allowances to the successful candidate.

If you are interested in the role, please apply to hr@wg-plc.com with your CV and a covering letter as soon as possible to be considered immediately for the role.

Technical Project Managers

The Project Manager role will be based in the Middle East, candidates must have previous experience of the design, development, integration, installation. and documentation of security architectures including Security Systems, IT Networks, Screening Systems and VMS Platforms.

The role will comprise of all aspects of project management including site meetings, site visits, paperwork, ensuring installations of security systems are installed to the correct standard, and to strict deadlines.

Responsibilities

Responsibility for team leadership and accountability for building and motivating the team.
Planning for and obtaining the appropriate levels and types of resource required.
Establishing common milestones which link to the wider project/programme milestones.
Providing progress and status reports to the Project Team and Project Director
Ensuring the delivery of quality project, on target, within budget and other constraints.
Identifying issues and recommending solutions to the Project Team and other relevant parties.
Liaising with customers Project Engineers.
Experience

Experience of delivering large scale projects involving multiple security related disciplines and workstreams.
Experience of project planning, monitoring and controlling projects using PRINCE2 or other Project Management related methodologies.
Awareness of both relevant standards, integration of security systems including IT Infrastructures.
Experience in the assessment, mitigation and management of project risk.
Experience in managing project budgets to project schedules.
Experience of deploying security projects in a secure environment.
Experience of managing and delivering multiple security discipline projects within tight timescales and with limited resources in the Middle East.

.. are beginning.

https://www.ghanaweb.com/GhanaHomePage/business/Takoradi-Port-dredging-begins-879193
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They are looking to create berths for Container ships,... with contracts going to indigenous Companies,.. and with the container berth to be fitted out with new cranes etc., and modern 'systems. You would assume that would mean a custom clearance and scanning system on a par with Tema,... and you would hope that Scanport/WSG would be in with a fair chance of picking up that contract?

Foxxy,.... ahh yes the good old days!

"Most of our contingent are busy reminiscing about the good old days "
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When we had a boat that wasn't a boat,.... ebola.. and no passengers,.... and yet the sp was still 50P... with far less shares in issue!!! What went wrong!!

Feeks,... I imagine that distributing via a sales channel... through a third party such as WSG... gets them in front of the right clients without having to have people on the ground in these countries,.. as we have,.plus we are generally on board carrying out the security surveys an analysis,.. recommending to the client what to buy. In many cases there will also be training and co-ordination with other security operations on site,.. and again that's where we have an overview on what kit is required and how it will slot in to the whole process.

Just my thoughts.

Best

trini--- you need to read the end of Jan Trading statement if you haven't already. That pretty much will bring you up to speed.

Best

Foxy,

Sadly you are probably quite right in your analysis.

My hope is that PF will use the contract signing and the last years results,.. to go on a major PR offensive; he can't really do that until he has Tema in his pocket,-- if he can throw in some good 'new' news from the UAE Port authorities meetings/presentions that our happening this month,.. then that would be all the better.

Best.

Feeks...

The Tema Port Tariff identifies the charge in Ghananian Cedi.
The fee that I think represent our security scanning is shown as $GHC65 for a laden 20ft Container.
So I have used that to guesstimate the fee per TEU to Scanport/WSG.

1US $= 5GHC$

$GHC65.....= circa $US13 per TEU... and then converted to Sterling at $1.3/1£= circa £10/TEU.
I've then assumed that we get the "lion share of the fee" ... as per PF comment at the AGM to mean we will get a minimum of two-thirds of the fee,... ie £6.66/TEU.

Hope that helps.

Best.

I suspect that the limiting factor will be the supply rather than the demand.
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I think you are absolutely right,... and sadly I think that things are going to get much worse before they start to get better in terms of the spread of the virus.

What this outbreak has shown,.. following on also from the Chicken Flu outbreak and ebola,.... is that all airports/border crossings/ports etc., really need to ensure that they have some sort suitable screening technology installed,... ready to be fired up as and when required,.... rather than waiting for an outbreak to occur.

So regardless of whether the coronavirus is 'beaten' in the short or long term,.... I think that this will have focussed the minds of the relevant bodies and this could be a 'new' market that will need to be addressed and will become common place. We are clearly well placed to pick up some of that market-share,.... and we know how good our Tech Sales team are.

Best

... that this next bit is only a bit of fag packet surmising,.whilst we are waiting... but for newbies it's worth a gander. Please have a pop at the assumptions,.. it's good for all of us,.. to try and figure out what is a fair valuation... and I welcome the input and other views,.. ( for the most part!!!)

(Yes, gaynelly,.... I was thinking P/E.)

I opted for a P/e of 15 given the potential growth baked in to the desire to expand the business at the port,... up to circa 2.5-3.5M TEU's...and I assumed a 15yr contract as part of that reasoning. My model,.. indicates that TEMA alone,.. based on 750K - 1M TEU's /annum.. contributes circa 25p-33p/share- which reflects the sort of through put volume that Tema has been doing in 2018 and 2019.

When this volumes increases to 1.5M-2.0 TEU's annum; the model indicates circa 49-66p/share.

This excludes any additional services or increases to the tariffs during the term.

AND..yes, of course,.. I appreciate that we don't know the precise £/TEU etc., and Scanport/WSG split of the fee etc.,... nevertheless it is useful, IMHO,.. to try and gauge how much the current sp might be being 'discounted' by the market,... whilst we await the contract signing?

My other assumptions,.. to be transparent:
1 £6.60/TEU to WSG ----- ( US$ 1.3 to GBP...... and GHC$5 to US $)
2 53% Gross margin ----- ( 2018 55% and 2017 59%- See FY accounts )
3 15yr contract
4 15 P/E
5 159.4M shares in issue.
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GLA---

.. my calc to try and put a range of values to the TEMA project,. on a £/share basis,.. the new additional shares in issue etc., and current info.

I'm assuming that we are looking at a 15yr contract-- but what are the thoughts on P/E?

Reasonably high I would have thought given the desire to grow throughput by all involved and the fact that our overheads and costs are fairly fixed,.. so increase in volume goes to our bottom line.

Any thoughts? 10, 15, 20?