COMPANY's BALANCE SHEET IS VERY STRONG AND SHARE PRICE HAD BOTTOMED RECENTLY DUE A DRAG IN PROJECTS THAT RESULTED IN A DROP IN NET PROFIT
THIS COMPANY IS OPERATING IN NET CASH . MEANING CASH THAT IT HOLDS IS MORE THAN IT'S LIABILITIES .
PAY DIVIDENDS WITHOUT FAIL AT IMPRESSIVE 12% YIELD
IT SHOULD BE AN ABOVE $1 STOCK SOON
Just checked the chart and looks like Rotary has had a disastrous year. Stock is down 50% since January ! What happened? Pls enlighten us, I have not been tracking this business. If it can recover.... there is a lot of money to be made
Yes, $143.8million in cash. NTA at 37 cents per share. Not sure, if the bleeding already stop, as the project in SATORP.
At the rate, the company is burning cash. We could see the share below 30 cents. Not sure, the SATORP will sue the company for delay.
Better avoid.
Rotary is very efficient at controlling it's finances such that despite the tough quarters , it had ended with more cash balance now at $143.7 million compared to last year at $129.9 million .
SO now it is still operating in NET CASH !!!!!
mgmt is leaning much lessons from the execuetion of the SATORP projects , and it bodes well for future projects :
The Group is conducting a full-scale post mortem review of the SATORP project so as to draw
invaluable lessons and tighten its oversight and control over similar projects of similar size and
complexity in the future.
The Saudi Aramco Total Refining and Petrochemical Company (SATORP), a joint venture with France's
Total Oil Co.
, will construct a 400,000-bpd full-conversion refinery with integrated petrochemical processing in Jubail.
When completed, it will be the seventh-most complex refinery in the world. Located in Jubail, the refinery will be the first producer of petroleum coke and paraxylene in the Kingdom.
Construction, engineering and procurement have advanced significantly. As of November 2011, 16.1 million safe man-hours were achieved on the project. SATORP has already hired 729 employees and has 350 apprentices in training
at Saudi Aramco facilities and refineries.
After completing specialized training at the
Institute of French Petroleum
and at Total refineries, the first group of young engineers has returned to SATORP facilities to assist with the start-up. A second group has been recruited and begun similar training.
The 16-year financing for the mega-project won
two awards in 2011
from Project Finance International and Project Finance Magazine.
The inaugural crude oil intake is scheduled for December 2012, and the refinery will be fully operational by the third quarter of 2013.
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