ShareJunction - Member Posts

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You have condo bought in 2013 at 1.5mio and record in your book and you have 1.2mio loan with bank.

2018, if property price crash till 1mio, your loan stil 1.1-1.2 mio, but book record at 1.5mio. But you have no money to serve the loan.

So how? Winding up only can sell 1mio not enough for bank loan, so can only file bankruptcy protection and hope bank won't winding up and give chance for debt restructuring

ahhuat08 ( Date: 19-Mar-2017 11:51) Posted:

Assets 1 bil

Liabilities 500 mil

So this is a positive equity company, why file for cap 11?

FATABA ( Date: 19-Mar-2017 11:37) Posted:

The failure of Erza was given .....however, will our banking be greatly affect. More so a knee jerk reaction, as provision are well taken in last few qtrs of our local banks report ....further, look at the asset and lia balance of Erza as reported.

"

The company said it had unsecured loans of $272 million, owed to DBS Bank Ltd (DBSM_pc.SI), $184 million owed to Oversea-Chinese Banking Corp Ltd (OCBC.SI) and $108 million to a Singapore affiliate of HSBC Plc (HSBA.L).

The company said in a court filing in the U.S. Bankruptcy Court in New York that it had up to $1 billion in assets and up to $500 million in liabilities.

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Ezra file chapter 11, Ocbc involved as non secured creditor, may be Monday another round of tsunami to oil counters and banks.

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Let's hope Ezra will be next GM after 2010 2 years later not under Lionel Lee umbrella

earlybird14 ( Date: 19-Mar-2017 09:54) Posted:

Sad to say that with circumstances now and before filing bankruptcy Ezra share price is 1.1 cents, this imply existing shareholders and equity holders will get nothing even Ezra relist 1-2 years later if they manage to be out from chapter 11 when oil price boom.

So gone case for Ezra existing shareholders may not be gone case of Ezra holding and her employees but huge retrenchment is expected in near term.

earlybird14 ( Date: 19-Mar-2017 09:51) Posted:

As a general rule, administrative expenses (the actual, necessary expenses of preserving the bankruptcy estate, including expenses such as employee wages, and the cost of litigating the chapter 11 case)are paid first.[14] Secured creditors?creditors who have a security interest, or collateral, in the debtor's property?will be paid before unsecured creditors. Unsecured creditors' claims are prioritized by § 507. For instance the claims of suppliers of products or employees of a company may be paid before other unsecured creditors are paid. Each priority level must be paid in full before the next lowest priority level may receive payment.

Will the claims from charterers be paid first or unsecured creditors(Dbs Ocbc and hsbc) be paid first.

Since charter fee are not product but consider as rental fee, so shall not consider as product.

Eventually I think Ezra will be out from bankruptcy protection and relist again but management changed to the 3 banks or the banks sell to someone to relist Ezra.

So now is running of time of next oil boom before Ezra assets depreciated

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Sad to say that with circumstances now and before filing bankruptcy Ezra share price is 1.1 cents, this imply existing shareholders and equity holders will get nothing even Ezra relist 1-2 years later if they manage to be out from chapter 11 when oil price boom.

So gone case for Ezra existing shareholders may not be gone case of Ezra holding and her employees but huge retrenchment is expected in near term.

earlybird14 ( Date: 19-Mar-2017 09:51) Posted:

As a general rule, administrative expenses (the actual, necessary expenses of preserving the bankruptcy estate, including expenses such as employee wages, and the cost of litigating the chapter 11 case)are paid first.[14] Secured creditors?creditors who have a security interest, or collateral, in the debtor's property?will be paid before unsecured creditors. Unsecured creditors' claims are prioritized by § 507. For instance the claims of suppliers of products or employees of a company may be paid before other unsecured creditors are paid. Each priority level must be paid in full before the next lowest priority level may receive payment.

Will the claims from charterers be paid first or unsecured creditors(Dbs Ocbc and hsbc) be paid first.

Since charter fee are not product but consider as rental fee, so shall not consider as product.

Eventually I think Ezra will be out from bankruptcy protection and relist again but management changed to the 3 banks or the banks sell to someone to relist Ezra.

So now is running of time of next oil boom before Ezra assets depreciated.

granto ( Date: 19-Mar-2017 08:42) Posted:

Here is the full story...

Ezra Holdings files for US bankruptcy protection http://splash247.com/ezra-holdings-files-us-bankruptcy-protection/

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As a general rule, administrative expenses (the actual, necessary expenses of preserving the bankruptcy estate, including expenses such as employee wages, and the cost of litigating the chapter 11 case)are paid first.[14] Secured creditors?creditors who have a security interest, or collateral, in the debtor's property?will be paid before unsecured creditors. Unsecured creditors' claims are prioritized by § 507. For instance the claims of suppliers of products or employees of a company may be paid before other unsecured creditors are paid. Each priority level must be paid in full before the next lowest priority level may receive payment.

Will the claims from charterers be paid first or unsecured creditors(Dbs Ocbc and hsbc) be paid first.

Since charter fee are not product but consider as rental fee, so shall not consider as product.

Eventually I think Ezra will be out from bankruptcy protection and relist again but management changed to the 3 banks or the banks sell to someone to relist Ezra.

So now is running of time of next oil boom before Ezra assets depreciated.

granto ( Date: 19-Mar-2017 08:42) Posted:

Here is the full story...

Ezra Holdings files for US bankruptcy protection http://splash247.com/ezra-holdings-files-us-bankruptcy-protection/

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https://en.m.wikipedia.org/wiki/Chapter_11,_Title_11,_United_States_Code

Bye bye Lionel lee, ezra now is belong to creditors or debtors, no longer existing shareholders or equity holders.

earlybird14 ( Date: 19-Mar-2017 08:27) Posted:

https://gcaptain.com/bankrupt-singapores-ezra-holdings-files-chapter-11/

Gone Liao lah

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https://gcaptain.com/bankrupt-singapores-ezra-holdings-files-chapter-11/

Gone Liao lah

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It is best investment in the past when interest rate was high and property price was cheap, 1987 18%, 1997 9%, average about 5-7% and dus to high interest rate, everyone try to lower down and repay the loan period within 10-15 years. With this circumstance, due to ratio of monthly repayment with salary has to be maintained between 30-50%, with 10-15 years loan period, it restrict the property price at low and reasonable price.

But when interest rate is lowering down and bank offer longer loan servicing period till even 25-30 years, what we can see in the past? Salary increase, the ratio of repayment with salary maintain, loan service period increase till 30 years, interest rate reduce till zero, in 2013, the situation hit peak with highest salary, low interest rate with 1.1-1.7%(some banks lower their charge on top of 0.6% sibor to attract new customers), so property hit peak.

Those never do homework go to buy in 2012-2013 will never earn money but highly likely will lose money since the circumstances which cause property high will switch to reverse gear with interest rate hike first, started in 2014-2015, interest rate slowly adjust to 2-2.5%, salary increase reduce, we see property price start falling.

So 2017 onwards, interest rate will be higher and property price highly likely will fall continually without miracle, so next to eye on is the salary income, can it maintain a growth rate or worst Is economic recession and wipe out jobs, Singapore unemployment hit past 8 year high to 3%, the situation is worsen, we can't predict future but with current trend, property price can fall further.

Buy property like buy stock, don't catch falling knife, at start, share price hit peak will be sidelined and move down slowly, once hitting some support level and break it will trigger tsunami free falling, then same have to wait till sideline and multiple low support then buy.

So property price worst is not coming yet.

famouspinky ( Date: 18-Mar-2017 22:16) Posted:

Properties had never been the best investment. If it is, Mr TRump would had been the Richest Man but hes not or he had not.

famouspinky ( Date: 18-Mar-2017 22:06) Posted:

With o& g in doldrums, mncs closing shop and foreigners all go bk. Rent to ghost

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The worst is during this process a economic recession come and wipe out Singapore jobs. 1987 and 1997 property melt down will happen again.

The main reason of this soft landing for property price about 15-20% to come down since 2013 from peak is high interest rate is not hitting to market.

1987 interest rate close to 19% 1997 close to 9%. Since 2013, interest rate maintain lower than 2.3%. Confirm us will increase till 1.5-1.75% in 2017. So Singapore property interest shall hit 1.5+1.75 3.25% in 2017. In fact this is still low interest rate but surely bring a lot pressure on property price.

However if our economic is no good and GDP can't hit 2% or move into recession, Singapore borrowing cost will shoot up further

famouspinky ( Date: 18-Mar-2017 16:30) Posted:

If property pxs dont go up and interest rates go up further for the nxt 3 y, the new ruling is a chance for this people to sell. If not, those holding to 5y, will push the px down further with volume amidst desperation.

earlybird14 ( Date: 17-Mar-2017 19:23) Posted:

Cooling measurement release is a sweet also a toxic. Property market resellers and property developers all hold hope of releasing cooling measurement can drive property price and sales up.

However we are facing a interest rate hike era, gov release it is to expect it can cover the impact from interest rate hike.

But property price is like stock price, when the company launch share buy back or throw some tactics trying to push share price up, initial stage it work and hold, but price doesn't go up as expect but start to come down, it will trigger panic selling by assumption market is so bad till even cooling measurement release also cannot help.

When hope turn to desperate and borrowing cost increase on holding the property, it will trigger some panic sellers appear in market.

Share price is 51 vs 49 theory mean so long as got 51 sellers and 49 buyers, price will start to fall, when price start to fall, it will be more sellers and less buyers and cause free falling.

So don't need to rush in to buy any property just wait and see since interest rate hike impact will happen with 3 times hike in 2017 till 1.5% minimum. 1.5+1.75 so add up about 3.25% interest cost to those holding floating sibor rate

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U.S. Market close little red on Friday.

Coming week we know what will happen. A fatigue bull without further catalyst?

earlybird14 ( Date: 17-Mar-2017 17:50) Posted:

Result season end, dividend season end, rate hike, trump budget out.

Market will be without further catalyst to drive market up further.

Sell in May and go away but march till April will be a slow dying. During this period only stock with strong fundamentals can maintain rally or keep price afloat, those speculate one without good fundamental or price overvalued will pay the price first in March to April.

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Cooling measurement release is a sweet also a toxic. Property market resellers and property developers all hold hope of releasing cooling measurement can drive property price and sales up.

However we are facing a interest rate hike era, gov release it is to expect it can cover the impact from interest rate hike.

But property price is like stock price, when the company launch share buy back or throw some tactics trying to push share price up, initial stage it work and hold, but price doesn't go up as expect but start to come down, it will trigger panic selling by assumption market is so bad till even cooling measurement release also cannot help.

When hope turn to desperate and borrowing cost increase on holding the property, it will trigger some panic sellers appear in market.

Share price is 51 vs 49 theory mean so long as got 51 sellers and 49 buyers, price will start to fall, when price start to fall, it will be more sellers and less buyers and cause free falling.

So don't need to rush in to buy any property just wait and see since interest rate hike impact will happen with 3 times hike in 2017 till 1.5% minimum. 1.5+1.75 so add up about 3.25% interest cost to those holding floating sibor rate.

chendo122 ( Date: 17-Mar-2017 17:54) Posted:

This piece of news seemed to be cheered on by local investors as stocks of property developers soared.

The biggest industry players such as City Developments Limited (rose 5.6%), CapitaLand (rose 3.6%) and UOL Group (rose 4.5%) all saw their stock prices increasing a day after the easing was announced. Similarly, smaller developers such as Guocoland, Wing Tai and Wheelock Properties saw price increases of 2.4%, 8.1% and 3.0% respectively a day after the announcement.

People can also read a little bit deeper, without much evidence however, into why the SSD was tweaked rather than the ABSD. One reason could be that government is bracing for more adverse situations causing people to have to sell their properties. [How is the change in SSD got to do with adverse situations ?]

Another bit of &ldquo deeper reading&rdquo can also be that since the government introduced cooling measures in phases, it makes sense for it to remove them in phases. This is why there&rsquo s no need to rush into buying properties right now, as logically, there will be more measures removed and better deals tabled.

Feel free to share your views.

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Result season end, dividend season end, rate hike, trump budget out.

Market will be without further catalyst to drive market up further.

Sell in May and go away but march till April will be a slow dying. During this period only stock with strong fundamentals can maintain rally or keep price afloat, those speculate one without good fundamental or price overvalued will pay the price first in March to April.

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Low float indofood pump up 👏 👏 👏 👏

earlybird14 ( Date: 17-Mar-2017 12:37) Posted:

Indofood and golden Agri chart are ready to bounce up strong after consolidation and accumulation.

Question still stay can TA rule FA( cpo price at low)?

earlybird14 ( Date: 13-Mar-2017 12:50) Posted:

TA for indofood and golden show accumulation at 51.5-52 and 37-37.5 and about ready to go up.

However can they go up in a cpo price at 2800?

Let's see if TA work well or fundamental work well.

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Indofood and golden Agri chart are ready to bounce up strong after consolidation and accumulation.

Question still stay can TA rule FA( cpo price at low)?

earlybird14 ( Date: 13-Mar-2017 12:50) Posted:

TA for indofood and golden show accumulation at 51.5-52 and 37-37.5 and about ready to go up.

However can they go up in a cpo price at 2800?

Let's see if TA work well or fundamental work well.

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Indofood and golden Agri chart are ready to bounce up strong after consolidation and accumulation.

Question still stay can TA rule FA( cpo price at low)?

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😁 😁 😁 Yaya r right this time.

However this should be the last pump. Reset all my short position at yesterday high and expect today will be a red Friday night.

TechnicalTrader ( Date: 17-Mar-2017 00:34) Posted:

Who said unexpected...

earlybird14 ( Date: 16-Mar-2017 07:09) Posted:

An unexpected usd sharp dropping with rate hike, Dow up further Nasdaq break record high, ?????

Have to accept it for the eye opening.

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http://www.cnbc.com/2017/03/16/military-wins-in-first-trump-budget-environment-aid-lose-big.html

Budget cut cut cut all for the wall and military. Us economic surely come down soon

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A short term shaking weak holder at 39.5-40.

Now we are ready to move higher.

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See 9.65-9.66 again. Jialat liao lah.

The magic number come back again.

seanpent ( Date: 16-Mar-2017 11:00) Posted:

at 9.66 ..... interesting level for a potential higher high of 9.80 .....

seanpent ( Date: 16-Mar-2017 09:15) Posted:

hit 9.71 ..... 9.65 / 9.66 turned support .....

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It is all about manipulation😀 .

moneyspinner ( Date: 16-Mar-2017 07:12) Posted:

It' s all about expectation.😄

earlybird14 ( Date: 16-Mar-2017 07:09) Posted:

An unexpected usd sharp dropping with rate hike, Dow up further Nasdaq break record high, ?????

Have to accept it for the eye opening.