Would love them to take a pay cut! Directors will consider not getting performance shares their 'pay-cut' Doubtful they will take a reduced pay unless the company starts showing losses. I do agree I think they will cut the dividend payout. I recall they flagged this at the AGM something along the lines of "...if we see continued downward pressure on the oil price we will have to review the policy"
I still can't evaluate Jaya. In most instances there is a dip in the company SP after acquiring a large business that lasts a while. (No reference but plenty of articles out there on the subject) It would have been the board equally at fault for setting the acquisition and expansion strategy not just J.Webb. Jaya has proven to not be great, but not yet proven to be a dud. But I agree international expansion is the key. Australia is pretty tiny. Have to think longer than quarter to quarter (I know that's impossible for ASX followers).
Not too worried about Singapore. They have a yard across the pond in Batam. Corporations 'move' manufacturing and warehousing all the time. This is Singapore, anyone doing business there would have known the risks/land policy. These guys aren't that dumb. So what if they lose out on a few meters of harbor and warehouse? Get a new one in China or Vietnam or Korea. Remember Jaya built ships for others - MRM didn't plan on building for others... could be the plan was to wind down the s'pore facility all along.
MRM Price at posting:
62.0¢ Sentiment: Hold Disclosure: Held
