Back

Latest Forum Topics / AusGroup    Last:0.009 --

Post Reply

Ausgroup - the train is moving soon Post Reply Rate topic
michelangelo Member	06-Oct-2016 17:23        michelangelo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Sorry, wrong thread ha ha michelangelo      ( Date: 06-Oct-2016 17:19) Posted: Not very sure but I suspect those crooks are at it
Useful To Me  Not Useful To Me
michelangelo Member	06-Oct-2016 17:19        michelangelo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Not very sure but I suspect those crooks are at it
Useful To Me  Not Useful To Me
TraderBen Supreme	06-Oct-2016 15:01        TraderBen About Contact  Quote this Post!
x 0   x 0  Alert Admin	suddenly stop liao.. so expecting 6.6 cents by tmr?
Useful To Me  Not Useful To Me
makdatok Supreme	06-Oct-2016 14:34        makdatok About Contact  Quote this Post!
x 0   x 0  Alert Admin	Just load..now...ciong aaahh!!!..lolz
Useful To Me  Not Useful To Me
Battle123 Elite	06-Oct-2016 14:33        Battle123 About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	Can fly higher ?
Useful To Me  Not Useful To Me
barracudaa Member	06-Oct-2016 12:26        barracudaa About Contact  Quote this Post!
x 0   x 0  Alert Admin	so what is next after 2 years? Hope that the oil price shoot back to US$100 per barrel? everybody involved in this stupid bond all hoped for a turnaround lah...right now already deem " defaulted" , what are the chances of it after 2 years if oil price remained as it is, volatile?!  " Joyful" haha...
Useful To Me  Not Useful To Me
granto Master	06-Oct-2016 11:58        granto About Contact  Quote this Post!
x 0   x 0  Alert Admin	AusGroup wins support for debt restructuring
Useful To Me  Not Useful To Me
jeremyow Master	06-Oct-2016 11:03        jeremyow About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Passionate business investor"
x 0   x 0  Alert Admin	Looks like this may become a trend in future for companies to negotiate the extension of their maturity dates of their loans to noteholders. It may become rarer for companies to pay back their loans on time. Wonder if this trend of negotiating the extension of the maturity dates will move on to all other kinds of loans that companies have with their different creditors (even with banks)? If that is the case, then an initial agreed maturity date for any types of loans is just but only a reference date which may not be taken seriously at all since there is always room for negotiation of extension of maturity dates of loans?  Msport      ( Date: 06-Oct-2016 10:49) Posted: With lots of negative news gushing from defaulting (and potentially defaulting) oil & gas bonds, you can imagine the anxiety that noteholders of AusGroup lived through of late.  They collectively had S$110 million on the line, and the clock was ticking fast towards the 20 Oct 2016 maturity date.  Their anxiety turned to elation yesterday  at the consent  solicitation exercise, which paved the way for the first restructuring of Singapore corporate bonds in recent times.  AusGroup gets to extend the maturity date of the notes by two years, lifting a big overhang over it and inspiring confidence in its suppliers, customers and financiers.    They didn' t neglect us, or evade us. They had proposals for us, we had counter proposals.  AusGroup' s management was transparent, we trusted them because they were sincere, and they assigned Martin from KPMG who listened to us. They explained every part of their business to us, we became realistic about the situation and we understood the best way for us to recover our investments in the company was for the company to survive. There are parts of the business that are doing well, and we just had to support them through this period." --  Danielle Chan, noteholder. She is in the above photo taken after yesterday' s meeting. Martin Wong (KPMG) is in the centre while  Eng Chiaw Koon, MD and Executive Director of AusGroup, is at the extreme right. Danielle Chan, the spokesman for the noteholders, toldNextInsight:  " The most important thing for us was that we have gone from being unsecured lenders to being secured creditors. AusGroup' s Port Melville is the security, and we are ranked first among creditors. That is the jackpot for us."   There' s more: From 7.45% coupon, the noteholders will get 7.95% in the first year after the original 20 Oct 2016 maturity date of the notes and 8.45% in Year 2.  The interest will be paid monthly instead of bi-annually during the two years that the bond maturity date will be extended by. Such sweeteners led to 385 votes (representing 98.47% of votes) cast in favour of the extraordinary resolution.  Ms Chan said: " It was a joyous moment to see we had such a high consent percentage." The outcome was hard won after multiple informal meetings that began some three months ago between the noteholders -- many of whom hold a single note of $250,000 while one investor holds $7.5 m worth -- and AusGroup led by its MD, Eng Chiaw Koon.  " They didn' t neglect us, or evade us. They had proposals for us, we had counter proposals," recounted Ms Chan.  " AusGroup' s management was transparent, we trusted them because they were sincere, and they assigned Martin from KPMG (as its financial adviser), who listened to us.   They explained every part of their business to us, we became realistic about the situation and we understood the best way for us to recover our investments in the company was for the company to survive.  " There are parts of the business that are doing well, and we just had to support them through this period.  When we were on the same page, we just had to work out what was reasonable for the bond holders and what was reasonable for the company and for other creditors who were involved." AusGroup' s corporate development general manager, Richard Ling,    pointed out that AusGroup is not an asset-heavy O& G play, unlike some of those that face negative outcomes with respect to their bonds.  Instead, AusGroup operates in the maintenance and opex and scaffolding segments that support the O& G and mining industries in Australia. " Despite the negative news in the O& G, we are still doing well and continue to grow and secure new contracts. With the bond restructuring, our balance sheet is strengthened, which is good news for our suppliers, customers, banks, etc," said Mr Ling.
Useful To Me  Not Useful To Me
Msport Elite	06-Oct-2016 10:49        Msport About Contact  Quote this Post! Style: Flexible
x 0   x 0  Alert Admin	With lots of negative news gushing from defaulting (and potentially defaulting) oil & gas bonds, you can imagine the anxiety that noteholders of AusGroup lived through of late.  They collectively had S$110 million on the line, and the clock was ticking fast towards the 20 Oct 2016 maturity date.  Their anxiety turned to elation yesterday  at the consent  solicitation exercise, which paved the way for the first restructuring of Singapore corporate bonds in recent times.  AusGroup gets to extend the maturity date of the notes by two years, lifting a big overhang over it and inspiring confidence in its suppliers, customers and financiers.    They didn' t neglect us, or evade us. They had proposals for us, we had counter proposals.  AusGroup' s management was transparent, we trusted them because they were sincere, and they assigned Martin from KPMG who listened to us. They explained every part of their business to us, we became realistic about the situation and we understood the best way for us to recover our investments in the company was for the company to survive. There are parts of the business that are doing well, and we just had to support them through this period." --  Danielle Chan, noteholder. She is in the above photo taken after yesterday' s meeting. Martin Wong (KPMG) is in the centre while  Eng Chiaw Koon, MD and Executive Director of AusGroup, is at the extreme right. Danielle Chan, the spokesman for the noteholders, toldNextInsight:  " The most important thing for us was that we have gone from being unsecured lenders to being secured creditors. AusGroup' s Port Melville is the security, and we are ranked first among creditors. That is the jackpot for us."   There' s more: From 7.45% coupon, the noteholders will get 7.95% in the first year after the original 20 Oct 2016 maturity date of the notes and 8.45% in Year 2.  The interest will be paid monthly instead of bi-annually during the two years that the bond maturity date will be extended by. Such sweeteners led to 385 votes (representing 98.47% of votes) cast in favour of the extraordinary resolution.  Ms Chan said: " It was a joyous moment to see we had such a high consent percentage." The outcome was hard won after multiple informal meetings that began some three months ago between the noteholders -- many of whom hold a single note of $250,000 while one investor holds $7.5 m worth -- and AusGroup led by its MD, Eng Chiaw Koon.  " They didn' t neglect us, or evade us. They had proposals for us, we had counter proposals," recounted Ms Chan.  " AusGroup' s management was transparent, we trusted them because they were sincere, and they assigned Martin from KPMG (as its financial adviser), who listened to us.   They explained every part of their business to us, we became realistic about the situation and we understood the best way for us to recover our investments in the company was for the company to survive.  " There are parts of the business that are doing well, and we just had to support them through this period.  When we were on the same page, we just had to work out what was reasonable for the bond holders and what was reasonable for the company and for other creditors who were involved." AusGroup' s corporate development general manager, Richard Ling,    pointed out that AusGroup is not an asset-heavy O& G play, unlike some of those that face negative outcomes with respect to their bonds.  Instead, AusGroup operates in the maintenance and opex and scaffolding segments that support the O& G and mining industries in Australia. " Despite the negative news in the O& G, we are still doing well and continue to grow and secure new contracts. With the bond restructuring, our balance sheet is strengthened, which is good news for our suppliers, customers, banks, etc," said Mr Ling.
Useful To Me  Not Useful To Me
TraderBen Supreme	06-Oct-2016 09:35        TraderBen About Contact  Quote this Post!
x 0   x 0  Alert Admin	If today cannot break 5.9 cents comprehensively.. might pull back abit..
Useful To Me  Not Useful To Me
Composure Senior	06-Oct-2016 09:01        Composure About Contact  Quote this Post!
x 0   x 0  Alert Admin	noteholders ok to extend 2 years can fly? _https://au.news.yahoo.com/thewest/wa/a/32817110/ausgroup-gets-a-lifeline/
Useful To Me  Not Useful To Me
happyharvest Elite	05-Oct-2016 18:06        happyharvest About Contact  Quote this Post!
x 0   x 0  Alert Admin	Cannot hold..useless ronleech      ( Date: 05-Oct-2016 17:11) Posted: i does..it went to 6.1.....didnt it?
Useful To Me  Not Useful To Me
ronleech Elite	05-Oct-2016 17:11        ronleech About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Believe in yourself. Ride with the waves......"
x 0   x 0  Alert Admin	i does..it went to 6.1.....didnt it?
Useful To Me  Not Useful To Me
TraderBen Supreme	05-Oct-2016 17:07        TraderBen About Contact  Quote this Post!
x 0   x 0  Alert Admin	couldnt break resistance..of 5.9 cents
Useful To Me  Not Useful To Me
Battle123 Elite	05-Oct-2016 16:08        Battle123 About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	If today no go above 60 I think tomorrow also can
Useful To Me  Not Useful To Me
TraderBen Supreme	05-Oct-2016 15:52        TraderBen About Contact  Quote this Post!
x 0   x 0  Alert Admin	infact already run up quite abit.. was 13 pips behind ezra last mth.. now catch up with them liao.. and RSI showing overbought..
Useful To Me  Not Useful To Me
ronleech Elite	05-Oct-2016 15:22        ronleech About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Believe in yourself. Ride with the waves......"
x 0   x 0  Alert Admin	will be be another day of later surge?
Useful To Me  Not Useful To Me
ronleech Elite	05-Oct-2016 14:38        ronleech About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Believe in yourself. Ride with the waves......"
x 0   x 0  Alert Admin	Break the 60 barricade
Useful To Me  Not Useful To Me
happyharvest Elite	05-Oct-2016 14:22        happyharvest About Contact  Quote this Post!
x 0   x 0  Alert Admin	Ezra fundanental is very bad. Grab the more stable company better ruready      ( Date: 05-Oct-2016 13:51) Posted: Mai Kia , oil oil counter just grap all you can ruready      ( Date: 05-Oct-2016 13:01) Posted: Ezra, ezion , Loyz , Rex time to reloaded
Useful To Me  Not Useful To Me
ruready Supreme	05-Oct-2016 13:51        ruready About Contact  Quote this Post!   Yells: "Follow the micro penny , May be this is the last train"
x 0   x 0  Alert Admin	Mai Kia , oil oil counter just grap all you can ruready      ( Date: 05-Oct-2016 13:01) Posted: Ezra, ezion , Loyz , Rex time to reloaded
Useful To Me  Not Useful To Me

                                                         First   < Newer   6961-6980 of 7987   Older>   Last