FW, then clearly you know and understanding nothing.
First, prior to setting up such an entity advice would need to be sought to ensure that efficient tax structures are put in place to ensure that revenues can be repatriated in the most efficient manner. Advice received may be dependent upon how operations and contracts are proposed to be structured.
Second, there is little point in setting up a legal entity any earlier than is actually required as the mere existence of the entity will result in unavoidable costs. For example, the need to maintain accounting books and records . These are usually required to be kept in country and in the local language, so someone has to be employed to do that. They will also require to be audited, another cost. A tax return will also be required involving the use of professional tax advisors familiar with the local tax regime and authority. A legal entity often requires a director to be based in country, in some cases a native of the country. Someone will have be be employed to fulfil that task too. I could go on.
Third, if having set up the legal entity a contract is not won, then there are costs of maintaining a dormant entity until the entity is liquidated, and then the costs of professional advisors to complete the liquidation.
I'm clearly different to you. I took the fact that they are actually proceeding with setting up a legal entity in KSA as being a very positive indication that discussions are well advanced and very positive.
My advice would be read the statement you have posted again "registration was required before contracts could be won and signed". Think about it. Says nothing about negotiating, does it?
Yrabs, yet another trying to talk it down
22 July “so depending on webinar, could be many exiting.... me included, whatever the loss”
Yet 24 hours later, whatever the cost had become he thinks he will be off
23 July “I have not had my new log in from ITI yet, but when I do, I think I will be ofsky.”
Now on 29 July he’s still merrily posting away every few minutes trying to get that SP a penny lower to add to his holdings. 14 posts yesterday, 3 more this morning.
SirSwish1982 - 23 July “Wish I’d heard that webinar 9years ago, I’d never have trusted my cash to dads army then.”
SirSwish1982 - 29 July “My buy showing as a sell”
Says it all really, just a bunch of traders trying to talk it down for their own trading purposes. Pete was clearly right.
It might even rise Mike. Don’t forget the Menzies opportunity was only RNS’d on 3 June with the following statement “Using the Westminster fever screening solution, Menzies Aviation will continue to conduct operational trials with Air France and other clients' flights' over the coming weeks in order to fine tune an effective delivery to this added layer of safety and security”
So with the trials not ending until towards the end of June at least, maybe even later, it unlikely that there was significant revenue, if any, in H1 from this opportunity.
What we don’t know of course is whether this is just for Stockholm or whether Menzies will roll it out to other airports that they service. What we do know though is for it to be RNS’d it should be material. By contrast the investment bank contract for $0.6m announced on 26 May wasn’t deemed large enough to RNS. (We also don’t know if they managed to deliver and install the equipment for that contract even in the 5 weeks before the end of H1 to enable them to recognise that revenue in H1)
Flights restart 22 July
https://newsaero.info/aeroport/sierra-leone-les-vols-internationaux-reprennent-le-22-juillet-?true=3012
Flights restart 22 July
https://newsaero.info/aeroport/sierra-leone-les-vols-internationaux-reprennent-le-22-juillet-?true=3012
I wouldn’t be surprised if the supply chain had become more strained during Q2 after existing stocks at the start of CV19 had been purchased during Q1. As I say it would be interesting to know the order book level and current lead times for delivery and installation.
Mike, Menzies is now listed as a customer on website.
My thoughts too AIMing, but maybe there is a healthy order book for CV19 equipment building up? It would be useful to know what that number is looking like.
Ozzie, I’d certainly say the former.
Steve isn’t the only one here he has followed, he is following quite a number of us. Also, for someone allegedly based in Saudi, it is quite striking that he is following quite a small proportion of Arabic accounts out of the near 1,400 he has followed since joining Twitter in March 2020.
I believe the WSG follow backs occurred after the link to the fort tweet was posted in here, so I’m not reading too much into that either.
WSG made it clear in May that Covid lockdown and travel restrictions along with Ramadan had prevented follow up to the actions coming out of the February meetings. So I am not expecting any KSA related announcements in the short term.
Hi Mos , hope all is well with you.
We already know it is correct. From the 14 May RNS
“following which, the Westminster team met with the port authorities in February 2020 for more detailed discussions regarding port security solutions.The follow up activity from these meetings and discussions have been delayed due to the COVID-19 effects and the travel restrictions in the Kingdom however these will resume once restrictions are lifted................The business opportunities for Westminster's products and services within Saudi Arabia are substantial and the formation of Westminster Arabia represents an important strategic development for the Group”
He is just repeating what WSG has already told everyone.
MB I read about them when they first started training them. It will be fantastic if they can train them and deploy them at key locations. However, they are going to need to find and train a lot of dogs (and trainers) to be really effective and that will take time, which we probably don’t have before the start of the autumn / winter season, unfortunately.
https://www.facebook.com/280879559263324/posts/562917224392888/
DEEPEST DRAFTED VESSEL TO ENTER GHANAIAN PORTS/WATERS
Once again, another superior feature of the MPS investment in the Tema Port Expansion has been put to successful use.
The new harbour basin is accessible through a 3,500 m long by 225 m wide Entrance Channel and into a turning basin/circle of 500m diameter. The Access Channel has been dredged to -18.7m, Turning Basin to -17.4m and -16.9m by the quay wall to accommodate around 16m draft vessels to dock alongside all berths.
The MSC BERYL broke all-time record for being the deepest drafted vessel to ever enter and sail away from Ports in Ghana. She arrived into the MPS Terminal 3 harbour basin at Tema Port with draft 15.95 m and sailed away with draft of 16.2 m.
The Length Overall of this Neo-Panamax is 366m and Breadth of 48m and she has a container capacity of 12,967 TEU with Gross Tonnage of 140,096t. She was stowed for us to deploy crane intensity of 5.1 where by the operations were completed in 13 hours 55 minutes. Despite the current seasonal tropical weather systems, the net vessel productivity was 102.5 moves per hour. With the exception of 5 TEUs, all the 3,520 TEUs that were discharged and loaded were full.
#Ghana #Tema #MPS #MPSTerminal3 #TemaPort #Bollore #APMTerminals #GPHA #WeConnectYouThrive
EURO OPS Special Operations - a link in the chain of end-of-life aircraft management solutions.
Various sites have already been selected. Some are starting to welcome the first candidates for temporary storage. The EURO OPS "Assets Transitions Solutions" concept, in partnership with an aeronautical maintenance company, now offers its customers a range of "turnkey" solutions ranging from simply parking an airplane for a few weeks, '' a transitional operation on another tenant, to take full control of a dismantling, in accordance with all the technical and ecological standards in force. When justified economically, a revaluation of certain items taken with their return to the second hand market after recertification is also offered to the Client.
For any information on our activities and capacity lists:
Parking, storage, dismantlement: EURO OPS - Westminster Group ops@euro-ops.net
https://newsaero.info/aeroport/euro-ops-groupe-westminster-la-division-oprations-spciales-au-chevet-des-avions-mis-en-retraite?true=2973
It's a rush, not in airport terminals, since they are still almost deserted, travelers have been rare in these times of confinement, but on the tarmacs, on which the Airlines are trying to find place to temporarily park their planes. And wait for the day when they can finally get back in the air ...
Certain companies have already taken the decision to anticipate the definitive exit of the fleet of some of their planes. Since the beginning of this unprecedented crisis, we have witnessed a resurgence of anticipated restitutions to their owners. For some models, notably the legendary Boeing 747 or A340 quadreactors no longer responding to new market data "post-COVID-19", this is the end of the journey. For others, more recent, more efficient but temporarily withdrawn from service following a fall in historic traffic, it is a forced stay on the ground that awaits them. These will be subject to regular maintenance, essential so that when the time comes, they can be quickly put back into service, if necessary, and transferred as soon as possible to a new operator.
The puzzle begins for the owners of these planes that are taken out of service almost overnight. The parking spaces on the tarmacs of major airports are overpriced. The latter are not intended to become industrial sites where we stock and then dismantle unarmed equipment, for want of a taker. Hunting at secondary airports capable of harboring these bulky flying objects during a pandemic is in full swing. Some airports, like Tarbes-Lourdes, Châteauroux or Teruel, respectively located in France and Spain, already host companies that have made a name for themselves in the storage and dismantling market, well before the pandemic.
As parking spaces at existing industrial airports are becoming scarce, new compatible sites must be found quickly. They must not only offer attractive financial conditions, but also be located in the least humid environment possible. Airplanes and their components show a long-term preference for airports with hot, dry weather year-round.
The security of these new sites must also be ensured. Some planes, withdrawn prematurely from service and potentially sooner or later able to be replaced with a new operator, sometimes display balance sheet values ??of several tens of millions of dollars per unit.
Kings - and can you imagine if instead of ordering three each there is one on every departure gate prior to boarding?
Mike I think you are being a little unfair with that comment. Seriously what would have been the point in advertising on Sky last year when our target market has been airports and seaports in emerging markets? I agree that there appears to be a change in attitude towards news flow, but again shareholders have been moaning about over promising and under delivery so much it is hardly surprising that he the company has gone quiet until it has had something to shout about. Hopefully this is signalling a change in fortunes for the better.
MB - the first one is on Sky news but will be aired across a variety of channels.
TV Advertising Campaign
Westminster is also taking the step forward with its marketing outreach. A TV ad campaign will begin today across a variety of channels, introducing the Group and the brand to a whole new audience. The theme of the ad is Get Back To Work Safely but it is also about brand awareness and widening our client base. The ad was professionally designed and is to be aired on the Sky News channel amongst others.
Speaking about the TV ad campaign Group GM, Hamish Russell commented:
“I think we are very strong at talking to our extensive client base throughout the world, this campaign will give us the opportunity to expand our engagement and operations closer to home, here in the UK, supporting businesses return to work with our extensive product portfolio of fever screening, sanitisation and safety solutions. We are delighted with the ad and the way it has been brought together, it’s a bold step in terms of marketing outreach but one we think will be very successful.”
The ad will be first aired on Sky News at 1:57pm this afternoon.
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Res 5 - Looks like BDO have rightly been fired as auditors after we had to delay publication of the results at ridiculously short notice to enable them to complete their work.
No issues from me re the SRs. I think they are exactly the same as what was passed at last year's AGM.
http://newsaero.info/aeroport/euro-ops-la-division-oprations-spciales-de-westminster-group?true=2927