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Latest Forum Topics / Triyards    Last:0.084 --  Post Reply
Triyards - Bid coming ?
danger
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06-Sep-2017 16:32     
 
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vicks want to sell also cannot already .. SUSPENDED !
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pnuklis
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06-Sep-2017 15:08     
 
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 Alert Admin 		Vicks - you better sell soon or else you might not get anything. I am really scared they will go down with all three shipyards in Vietnam and one in US.
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sheerluck
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06-Sep-2017 14:50     
 
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Yells: "Work for your money first then let your money work for you"
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 Alert Admin 		Triyards called for voluntarily suspension.

So very clearly low P/B doesn' t mean anything at all.   Anytime the coy may still close shop.   Same for FEG.
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danger
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06-Sep-2017 14:19     
 
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 Alert Admin 		Vicks finished and unable to run road ? Bankrupt?

Vicks666      ( Date: 18-Jun-2017 17:27) Posted:

And hey look pnuklis - just to clarify

I' m not claiming everything is tickety boo round at Triyards or at any Singapore offshore related listco for that matter.

However, valuation should be the first premise of any investment - and after the shares px falls Triyards is trading at 0.15x BV, which is very, very cheap. With the Banks owning 70% of the equity, and them hardly being natural long term share holders - they will be looking for a buyer for Triyards, and I hope once Chap 11 for Ezra   is wound up, a sale takes place.

I hope they have the imagination to try and get more than 0.15x BV for the company  !!

I started buying these in March on the initial Ezra news when the shares traded down to 20c, and have been picking them up since.  No doubt the newsflow is going to be choppy in the short term, but I hope other investors, and ultimately a buyer for the whole business, will start looking at just how cheap the equity of Triyards  is ! 

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danger
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06-Sep-2017 14:17     
 
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 Alert Admin 		Where is vicks ?? His complete comittment to triyards future

Vicks666      ( Date: 11-Jul-2017 16:10) Posted:

The fact that Triyards has warned on Q3 comes as no surprsie to me, and should do to noone else who has been watching this stock, especially in light of the upcoming impairment charge from their US assets, which, as a matter of course probably represent less than 10% of the NAV, meaning any impairment will have a negligible impact on the NAV itself.

I guess what should' nt surprise me, but does, is the markets continual inability to look at valuations and beyond short term noise !

My investment thesis remains 100% intact. This is owned by the banks, who will not want in the long term to be holding these shares. They also hold most of any debt there is at the corporate level, and they are hardly likely to want to blow up their own equity positions by being difficult about that. There should be plenty of willing buyers for the Triyards assets once all of the Ezra nonsense exits Chapter 11, and with the stock trading at around around 0.15x - 0.25x PB depending on who you believe, you' ve got to hope that any buyer would pay a significant premium to the current px !!

I' m not saying it all tickety boo round at Triyards - just that the shares are the wrong px, and that I remain of the beleif we' ll come into work one day and find its been bid for at a significant premium to where the shares are now !
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Observers
Elite
06-Sep-2017 10:11     
 
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 Alert Admin 		Probably related to Emas white knights.

pnuklis      ( Date: 06-Sep-2017 08:47) Posted:

Mr. Chan has run out of cash and no banks want to lend more money due to their association with Ezra. Habis liao
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kerier
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06-Sep-2017 09:10     
 
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 Alert Admin 		nobody wanna order liftboats, last results left $3m in unrestricted cash as at 31 May..   after paying salaries.. where got money left..
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pnuklis
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06-Sep-2017 08:47     
 
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 Alert Admin 		Mr. Chan has run out of cash and no banks want to lend more money due to their association with Ezra. Habis liao
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acetron
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06-Sep-2017 08:11     
 
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 Alert Admin 		gone case liao
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xtraderx
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05-Sep-2017 17:17     
 
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 Alert Admin 		Got to have balls of steel to hold these highly leveraged O& M counters overnight, any time can halt + suspend. 

Starship      ( Date: 05-Sep-2017 17:15) Posted:

Still halted today.
I wouldn' t even dare to hope for anything good.   Luckily I bit the bullet and sold both Ezion and Triyards at losses before the halts.
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Starship
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05-Sep-2017 17:15     
 
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 Alert Admin 		Still halted today.
I wouldn' t even dare to hope for anything good.   Luckily I bit the bullet and sold both Ezion and Triyards at losses before the halts.
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acetron
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04-Sep-2017 14:18     
 
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 Alert Admin 		Trading halt ? good news or bad news ??
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Starship
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14-Aug-2017 09:34     
 
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 Alert Admin 		Looks like I finally made the right decision to sell both counters.

Singapore' s Ezion suspends shares, seeks restructuring

SINGAPORE, Aug 14 (Reuters) - Singapore-based oil services company Ezion Holdings said trading in its shares would be suspended temporarily as it is in talks with stakeholders such as bank lenders and creditors about its financing and capitalisation structure.

http://www.nasdaq.com/article/singapores-ezion-suspends-shares-seeks-restructuring-20170813-00049
 

Starship      ( Date: 29-Jul-2017 10:45) Posted:

Bit the bullet and sold my Triyards and also Ezion as soon as market opened yesterday after reading the report below. Should have set a cut-loss quantum instead of holding for so long. Learnt my lesson.

Triyards Holdings: Tough Times
Publish date:  Thu, 27 Jul 2017, 10:04 AM
Author: kimeng

Poor 3QFY17 Amidst Challenging Period



It has been a challenging period for Triyards Holdings, despite starting its product diversification efforts a few years ago. Oil prices are still hovering around the US$50/bbl level, and demand for offshore oil and gas activities remains weak, resulting in an extremely competitive market for industry players. The group has actually been profitable every quarter since listing in 2012, except for the past two quarters which saw net loss of US$6.3m in 2QFY17 and net loss of US$63.3m in 3QFY17 (dragged by significant impairments).

In 3QFY17, the group had a gross loss due to
  1. lower revenue in the quarter, affected by the delay in delivery of two MPSVs on owners&rsquo requests,
  2. cost overruns for the chemical tankers project, and
  3. compressed margins under a competitive environment.


Management is seeking recourse from parties for the chemical tankers project, in the hope of some compensation subsequently. For the US$45.1m allowance for asset impairment, the Houston properties accounted for a part of it, with some also from the reassessment of carrying value of certain assets which were acquired or developed previously for the O& G industry. The group&rsquo s net order book stands at about US$140-160m, and this excludes the two liftboats for Ezion that are unlikely to continue beyond the initial engineering stage.

Low New Order Flow



Looking ahead, in the absence of a positive catalytic industry development, management expects the next twelve months to be a challenging period for the industry and also the group. In the event that any material changes occur in relation to any of the existing banking facilities of the group, management will review and assess its ability to continue as a going concern.

Meanwhile, concerns remain over
  1. any impact from Ezra,
  2. possibility of further write-downs,
  3. low new order flow, and
  4. the tight credit situation in general.


With a reallocation of resources, we are ceasing coverage on the stock.

Source: OCBC Research - 27 Jul 2017

http://sgx.i3investor.com/blogs/sgxstockwarrant/30141.jsp

 

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kerier
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07-Aug-2017 18:23     
 
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 Alert Admin 		analysts only wait till the death is 100% apparent then tell everyone the obvious.

danger      ( Date: 29-Jul-2017 13:03) Posted:

OCBC USED TO BE THE ONLY HOUSE COVERING AND PROMOTING TRIYARDS NOW EVEN OCBC ALSO SURRENDERED AND CEASED COVERAGE THINK TRIYARDS END IS NEAR
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pnuklis
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07-Aug-2017 16:54     
 
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 Alert Admin 		Jialat today for Triyards
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danger
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29-Jul-2017 13:03     
 
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 Alert Admin 		OCBC USED TO BE THE ONLY HOUSE COVERING AND PROMOTING TRIYARDS NOW EVEN OCBC ALSO SURRENDERED AND CEASED COVERAGE THINK TRIYARDS END IS NEAR
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danger
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29-Jul-2017 13:01     
 
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 Alert Admin 		Triyards has this huge bond/ note payable by end 2017 Else may end up like parent EZRA...ultimate SUSPENSION
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Starship
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29-Jul-2017 10:45     
 
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 Alert Admin 		Bit the bullet and sold my Triyards and also Ezion as soon as market opened yesterday after reading the report below. Should have set a cut-loss quantum instead of holding for so long. Learnt my lesson.

Triyards Holdings: Tough Times
Publish date:  Thu, 27 Jul 2017, 10:04 AM
Author: kimeng

Poor 3QFY17 Amidst Challenging Period



It has been a challenging period for Triyards Holdings, despite starting its product diversification efforts a few years ago. Oil prices are still hovering around the US$50/bbl level, and demand for offshore oil and gas activities remains weak, resulting in an extremely competitive market for industry players. The group has actually been profitable every quarter since listing in 2012, except for the past two quarters which saw net loss of US$6.3m in 2QFY17 and net loss of US$63.3m in 3QFY17 (dragged by significant impairments).

In 3QFY17, the group had a gross loss due to
  1. lower revenue in the quarter, affected by the delay in delivery of two MPSVs on owners&rsquo requests,
  2. cost overruns for the chemical tankers project, and
  3. compressed margins under a competitive environment.


Management is seeking recourse from parties for the chemical tankers project, in the hope of some compensation subsequently. For the US$45.1m allowance for asset impairment, the Houston properties accounted for a part of it, with some also from the reassessment of carrying value of certain assets which were acquired or developed previously for the O& G industry. The group&rsquo s net order book stands at about US$140-160m, and this excludes the two liftboats for Ezion that are unlikely to continue beyond the initial engineering stage.

Low New Order Flow



Looking ahead, in the absence of a positive catalytic industry development, management expects the next twelve months to be a challenging period for the industry and also the group. In the event that any material changes occur in relation to any of the existing banking facilities of the group, management will review and assess its ability to continue as a going concern.

Meanwhile, concerns remain over
  1. any impact from Ezra,
  2. possibility of further write-downs,
  3. low new order flow, and
  4. the tight credit situation in general.


With a reallocation of resources, we are ceasing coverage on the stock.

Source: OCBC Research - 27 Jul 2017

http://sgx.i3investor.com/blogs/sgxstockwarrant/30141.jsp

 
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danger
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28-Jul-2017 10:45     
 
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 Alert Admin 		Vicks said he picking up since triyards was over 20c .. AMEN

danger      ( Date: 24-Jul-2017 10:12) Posted:

Good luck on your averaging

Vicks666      ( Date: 18-Jun-2017 17:27) Posted:

And hey look pnuklis - just to clarify

I' m not claiming everything is tickety boo round at Triyards or at any Singapore offshore related listco for that matter.

However, valuation should be the first premise of any investment - and after the shares px falls Triyards is trading at 0.15x BV, which is very, very cheap. With the Banks owning 70% of the equity, and them hardly being natural long term share holders - they will be looking for a buyer for Triyards, and I hope once Chap 11 for Ezra   is wound up, a sale takes place.

I hope they have the imagination to try and get more than 0.15x BV for the company  !!

I started buying these in March on the initial Ezra news when the shares traded down to 20c, and have been picking them up since.  No doubt the newsflow is going to be choppy in the short term, but I hope other investors, and ultimately a buyer for the whole business, will start looking at just how cheap the equity of Triyards  is ! 


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kerier
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27-Jul-2017 18:39     
 
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 Alert Admin 		better get out, its evident no one will be building OSVs anytime soon.

danger      ( Date: 27-Jul-2017 17:17) Posted:



THINK THIS VICKS BANKRUPT ALL THE WAY FROM 20c OVER UNTIL NOW

Vicks666      ( Date: 11-Jul-2017 18:52) Posted:

Willing sellers and decent assets,  for which there should be plenty of demand,  should add up to more than a pipedream......

We' ll see........
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