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EZRA HOLDINGS - RED HOT NEWS
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Demostation
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08-Jun-2015 09:36
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Whatever it is, the norm in the SGX trading realm, is to well Ezra first and not to buy it yet. |
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Lucky03
Elite |
07-Jun-2015 15:21
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The problem with SGX is that it is both regulator as well as listed company that is expected to generate more and more profit quarter on quarter and year on year. Long term investment is well... long term and hence not very effective in churning transaction volume. Shorts are short term and hence a much more effective tool to churn transaction volume. It is obvious right ???? Stock market feeds on fear and greed and shorting is ideal to create both but not long term investment. Even analysts are very short term now in reading crystal balls.
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makdatok
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07-Jun-2015 15:01
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Wah..i also hv confusing feeling bout this odd sgx bahavior...seems like double standard..must blame the management for lapse in judgement...1 sided judgement..the ppl on board shouldnt be there in the first place...mayb they themself r shortminded dud
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makdatok
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07-Jun-2015 14:54
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In a month time,where do u see the price be..anyone wants to put number?..seems like backlock contract in strong...dont worry,no fingerponting if wrong but pls put sincere figure..tnx | ||||
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Lucky03
Elite |
07-Jun-2015 14:47
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It is very miserable now for those vested that Ezra short term prospect is badly affected by the rights exercise and expiry of the bonds due in Sep that was secured to build those vessels that are now being put into operation this year. Ezra had mentioned that these vessels will help to generate revenue and positive cash flow and improve profitability along with debt deleveraging. Shortists had a good time in SGX generally,
not just hitting Ezra. When a stock price jumps, SGX will not hesitate to issue query to the company and demand clarification. In the other hand, when a stock is being attacked, SGX is silent and hardly even bother to seek clarification or to investigate any mishandling or manipulation at play. This is even so when retail investors wrote in to them. Sigh ..... |
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Lucky03
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07-Jun-2015 14:39
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Ezra is banking so much on the success of the launch of Lewak Constellation and scheduled to be delivered to Gulf of Mexico in Q2-3. Noble Energy is one of the major clients with a firm contract in place so it may be useful not only to understand how is Ezra performing but also its major clients such as Noble Energy. Below is the Q1 report of Noble Energy which reported that works in the Gulf of Mexico, West Africa and Eastern Mediterranean were on schedule.
NOBLE ENERGY ANNOUNCES FIRST QUARTER 2015 RESULTS Company raises full year volumes while maintaining total capital and cost outlook HOUSTON, May 5, 2015 /PRNewswire/ -- Noble Energy, Inc. (NYSE:NBL) announced today a first quarter 2015 net loss of $22 million, or $0.06 per diluted share. Excluding the impact of certain items, which would typically not be considered by analysts in published earnings estimates, first quarter 2015 adjusted income(1) was $10 million, or $0.03 per diluted share. Discretionary cash flow(1) was $555 million and net cash provided by operating activities was $541 million. Capital expenditures for the initial quarter of 2015 totaled $919 million. Total sales volumes for the quarter averaged a record 318 thousand barrels of oil equivalent per day (MBoe/d), an increase of 11 percent compared to the first quarter of 2014, or 17 percent after adjusting for non-core assets divested during 2014. Liquids comprised 43 percent (33 percent crude oil and condensate and 10 percent natural gas liquids) of first quarter 2015 sales volumes, with natural gas the remaining 57 percent. Total Company sales volumes were higher primarily as a result of continued development of the DJ Basin and Marcellus Shale resource plays, where combined production was up more than 35 percent from the first quarter of last year. Horizontal production in these core plays increased more than 60 percent versus the similar period. Internationally, sales volumes in the first quarter of 2015 were lower than the first quarter of last year, primarily as a result of the timing of liftings and facility maintenance in Equatorial Guinea, as well as the impact of the sale of the China asset in 2014. Israel natural gas sales were up approximately 10 percent versus the initial quarter of 2014. David L. Stover, Noble Energy's Chairman and CEO, commented, "Noble Energy's strong operational and financial capacity delivered a very positive start to 2015, and we are increasing our full year volume expectations following on the outperformance in the first quarter. Our teams have also made substantial progress in bringing costs down, reflecting continued improvement in operating efficiencies, leverage from existing core area infrastructure, and new pricing arrangements with our service partners. The trends of increasing capital efficiency and decreasing operating costs are expected to continue throughout the year." Mr. Stover added, "Our diversified portfolio of opportunities provides tremendous investment optionality and the ability to continuously review capital allocation. In the near-term, we are further reducing our investment in the Marcellus Shale and shifting more capital in the second half of the year towards high value areas within the DJ Basin. Offshore, there are a number of exciting opportunities ahead of us, including commencing production at Big Bend and Dantzler by the end of the year in the Gulf of Mexico and material exploration wells to be drilled in Cameroon and the Falkland Islands." First quarter 2015 total production costs, including lease operating expense, production and ad valorem taxes, and transportation and gathering averaged $8.56 per barrel of oil equivalent (Boe), and depreciation, depletion, and amortization totaled $15.86 per Boe. Lease operating expense of $5.49 per Boe is down three percent versus the first quarter of last year and eight percent from the fourth quarter of 2014. General and administrative costs were $94 million in the quarter, down substantially from prior quarters as a result of lower major project spending and reduced incentive compensation. Adjustments to the net loss for the first quarter of 2015 included non-cash commodity derivative losses of approximately $60 million, as a result of the value change of the Company's existing crude oil and natural gas hedge positions as of the end of the quarter. The Company also adjusted for certain asset impairment charges totaling $27 million pre-tax, which primarily related to changes in abandonment cost expectations for the Noa and Pinnacles fields offshore Israel. The effective tax rate on adjusted income for the quarter was 82 percent, with 76 percent of the adjusted tax provision being deferred. OPERATIONS UPDATE DJ BASIN In the DJ Basin, sales volumes averaged a record 116 MBoe/d in the first quarter of 2015, up 22 percent versus the first quarter of 2014 and eight percent from the fourth quarter of 2014. Liquids made up 64 percent of DJ Basin volumes (50 percent crude oil and condensate and 14 percent natural gas liquids) and 36 percent was natural gas. Total liquids volumes in the DJ Basin were up 12 thousand barrels per day (MBbl/d) versus the first quarter of last year, with more than 80 percent of the liquids growth being crude oil. The average spud to rig release time for an operated standard length well (4,500 lateral feet) in the DJ Basin during the first quarter of 2015 was 7 days, or 23 percent lower than the average drilling time in the first quarter of 2014. Reduced drilling times are resulting in a higher well count to be drilled in 2015 versus original plans. Noble Energy is supplementing its one full-time completion unit with a second completion team, on an as needed basis, in the second half of the year. The Company exited the first quarter with 4 drilling rigs operated in the DJ Basin. Highlights for the quarter included: Record horizontal volumes, which totaled 96 MBoe/d, up more than 50 percent from the same quarter of last year. Drilled 57 wells at an average lateral length of more than 5,200 feet. Included in the wells drilled was a 9,280 foot horizontal well drilled in Wells Ranch in just 7 days. Commenced production on 48 wells, including 17 extended reach lateral wells (equivalent to 60 standard length wells). Third-party gathering and compression capacity continues to be expanded. The 70 Ranch Compressor Station commenced operation in early February 2015, adding 45 million cubic feet of natural gas per day (MMcf/d) of compression in the Wells Ranch area. Additional compression projects, including the Rocky Compressor Station (100 MMcf/d) and Troudt (45 MMcf/d) are anticipated to be operational by the end of the second quarter of 2015. Gas processing is also expanding with the Lucerne-2 gas processing plant (200 MMcf/d), anticipated to startup by the end of the second quarter of 2015. The Northern Colorado Oil Pipeline, which connects East Pony to the Wattenberg Oil Trunkline, commenced operation in the first quarter of 2015, in conjunction with the startup of the Company's East Pony oil gathering system. In addition, the Tallgrass lateral, connecting East Pony production to the Pony Express pipeline, has begun line fill for startup in the second quarter of 2015. Following the startup of the Tallgrass lateral, Noble Energy is anticipated to export approximately 85 percent of gross oil produced out of the basin via pipeline or rail. Completed the sale of 38,500 net acres in Boulder County for proceeds of $120 MM. The acreage sits outside of the Company's identified Integrated Development Plans areas and had approximately one thousand barrels of oil equivalent per day of production at the time of sale. MARCELLUS SHALE Production volumes in the Marcellus Shale averaged a record 393 million cubic feet of natural gas equivalent per day (MMcfe/d), a 73 percent increase versus the same quarter of last year. Natural gas represented 86 percent of first quarter 2015 volumes, with the remaining 14 percent being condensate and natural gas liquids (NGLs). Continued operational improvement and drilling time reductions are resulting in a more efficient drilling program in both the operated and non-operated areas. Noble Energy and its JV partner are aligned to further reduce drilling activity to 1 operated rig and an average of 2 to 3 non-operated rigs in the second half of the year. These activity levels are down from 2 operated and 4 non-operated rigs drilling at the end of the first quarter. The Company still expects to complete its original planned number of wells for 2015, with no changes to the Marcellus Shale volume outlook. Highlights for the quarter included: Operated wet gas production increased to approximately 50 percent of total Joint Venture volume. Drilled 15 operated wells at an average lateral length of 8,700 feet. Included in the wells drilled was the Shirley 3D, with the lateral of approximately 8,900 feet drilled in just two days. Commenced production on 3 operated wells, having an average lateral length of 7,200 feet. One of the three wells was located on the Moundsville-9 pad, which includes a total of six wells in Marshall County, West Virginia. Combined, the six wells are producing approximately 2.5 MBbl/d of condensate and 20 MMcf/d, gross, and have been limited by third-party facility constraints. Joint Venture partner CONSOL Energy drilled 25 wells (6,850 foot average lateral length), and 29 dry gas wells commenced production. GULF OF MEXICO In the Gulf of Mexico, sales volumes averaged 15 MBoe/d, which were comprised of 83 percent crude oil and condensate, six percent NGLs, and 11 percent natural gas. Highlights for the quarter included: Successfully executed the completion work on the Dantzler-1 production well. All drilling and completion activities for the Rio Grande project (Big Bend and Dantzler) are completed. Tie back of the two fields to the Thunderhawk facility remains on schedule, with pipeline installation scheduled to commence in the second quarter of 2015. Big Bend (1 well) is planned to commence production in the fourth quarter of 2015, with Dantzler (2 wells) startup around the end of the year. The drilling rig is currently performing development work at the Gunflint field. First production from Gunflint is projected in mid-2016 as a two-well tieback to the Gulfstar 1 facility. Offshore installation at Gunflint will commence following the Rio Grande installation. WEST AFRICA Hydrocarbon sales in West Africa averaged 76 MBoe/d, which were comprised of 42 percent crude oil and condensate, eight percent NGLs, and 50 percent natural gas. Sales volumes for the quarter were less than production volumes by one thousand barrels per day as a result of the timing of liquid liftings, primarily at the Alba field. Highlights for the quarter included: Scheduled facility maintenance at the AMPCO Methanol Project was completed, and methanol plant production has resumed to full capacity. Natural gas sales from the Alba field were reduced approximately 20 MMcf/d, net, during the first quarter of 2015 as a result of the AMPCO plant maintenance. Compressor upgrades at the Alen field enhanced gross production to more than 32 MBbl/d of condensate. The field averaged approximately 28 MBbl/d of condensate production for the first quarter. Active production management, strong reservoir performance, and record facility run-time was exhibited at the Aseng oil field, which averaged 35 MBbl/d gross. Executed a rig contract to drill the Cheetah exploration well on the Tilapia PSC, offshore Cameroon. Cheetah, with unrisked gross mean resources of more than 100 million barrels of oil equivalent gross, is a four-way structure and represents the Company's first Cretaceous oil prospect in Cameroon. Drilling is anticipated to commence early in the third quarter of 2015. Noble Energy operates the Cheetah prospect with a 47 percent interest. EASTERN MEDITERRANEAN In the Eastern Mediterranean, Israel natural gas sales volumes averaged 246 MMcfe/d, up approximately 10 percent versus the first quarter of last year. Highlights for the quarter included: Tamar continued to exhibit exceptional reservoir and facility reliability. A record weekly sales volume of over 1 billion cubic feet of natural gas equivalent per day (Bcfe/d) gross was reached in January 2015, driven by increased electricity demand due to cold weather and coal plant maintenance. The Ashdod Onshore Terminal compression project, which will increase peak natural gas deliverability at Tamar to more than 1.2 Bcfe/d, is nearing completion. Signed a gas sale and purchase agreement for gross interruptible sales of up to 250 MMcf/d of natural gas for 7 years from the Tamar field to Dolphinus Holdings Ltd., for supply to Egypt's domestic market. Initial sales of natural gas could commence later in 2015 utilizing existing production capacity and currently available pipeline infrastructure. Commencement of natural gas sales are dependent upon full regulatory approvals and finalization of pipeline transport agreements. Received regulatory approval for the sale of natural gas from Tamar to the Arab Potash Company and the Jordan Bromine Company in Jordan, representing the first finalized gas export arrangement. Natural gas sales are anticipated to commence in the second half of 2016, following completion of required pipeline construction. Total volumes under the 15-year agreement are approximately 66 billion cubic feet of natural gas, gross. OTHER Exited the first quarter of 2015 with $5.7 billion in financial liquidity, including $1.7 billion in cash and $4 billion of an unused credit facility. Liquidity was enhanced during the quarter with the issuance of 24.2 million shares of Noble Energy common stock, which raised over $1 billion for the Company. Recently acquired a 75 percent interest and operatorship of the PL001 License, offshore in the north of the Falkland Islands. The Rhea prospect, with unrisked gross mean resources in excess of 250 million barrels of oil, is anticipated to be Noble Energy's second operated exploration prospect in the Falkland Islands in 2015. The Company's initial prospect, Humpback (NBL operated with a 35 percent interest), also with more than 250 million barrels of gross unrisked oil resources, is anticipated to commence drilling by the end of the second quarter of 2015. GUIDANCE Following the Company's strong volume performance in the first quarter, Noble Energy is raising its full year 2015 sales guidance to range between 300 and 315 MBoe/d. The Company anticipates the remaining quarters of 2015 to be consistent with prior expectations. Total Company capital for 2015 remains $2.9 billion. All other guidance, including annual average expense guidance, remains unchanged. (1) A Non-GAAP measure, see attached Reconciliation Schedules |
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makdatok
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07-Jun-2015 13:48
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Tankayu for d info | ||||
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Lucky03
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07-Jun-2015 13:40
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I'm unaware of Ezra owning any oil fields. Below is shared by Ezra in April 2015 at its analysts briefing after its Q2 result.
Ezra CEO: EMAS AMC Order Backlog Will Hold on Subsea Tie-Back Demand Ezra's CEO is upbeat about prospects for its unit EMAS AMC as demand for subsea tie-back remains strong. Singapore-listed Ezra Holdings? group CEO, Lionel Lee is optimistic the group?s subsea unit, EMAS AMC, with an active tender book boosted by resilient subsea tie-back demand, would be well-placed to maintain its $1 billion order backlog through 2015. EMAS AMC has $10 billion worth of contracts in its bid pipeline, with subsea tie-backs accounting for a sizeable percentage of its outstanding tenders on hand, Lee said at a second quarter group results briefing Tuesday. Lionel LeeLionel LeeLionel Lee, Ezra Holdings? CEO Source: Ezra Subsea tie-backs are deemed as cost effective alternatives to maintain production levels under a lower oil price environment, Lee explained. Even with oil prices hovering at a range of $50 to $60 a barrel, or about half of the $100 and above levels seen in the first half of 2014, Lee said field operators are still moving forward with sanctioned projects in the deepwater basins across the U.S. Gulf of Mexico, Africa and Asia Pacific. Contracts under tender in the U.S. Gulf of Mexico make up 30 to 40 percent of Ezra?s tender book, while Africa accounts for 15 to 25 percent and Asia Pacific and the Middle East about 20 to 30 percent. Lower oil prices are not a show-stopper in the U.S. Gulf, where supermajors and independents including the likes of Royal Dutch Shell plc, Chevron Corp. and Noble Energy are still forging ahead with deepwater field developments, Lee observed. This, the Ezra group CEO noted, was in stark contrast to slowing U.S. shale exploration and production. Lee?s observations are in line with the results of a recent Wood Mackenzie report, which described deepwater Gulf of Mexico as ?resilient in the face of a sharp decline in oil prices?. Wood Mackenzie attributed such resilience to lower ?point-forward break-evens for sanctioned projects? ranging from $10 to $50 a barrel at first production in the U.S. Gulf of Mexico. Point-forward break-evens exclude sunk exploration and appraisal well and facility costs. Activity in the U.S. Gulf is also supported by longer production life profiles and lower production decline rates for offshore wells of 30 percent compared to 80 percent for onshore shale wells. The slowdown in shale exploration and production is also reflected in a drastic decline in the onshore rig count. During the week ended April 2, the U.S. land-based rig count fell by 17 percent on week, the lowest level since October 2009, according to a Baker Hughes rig count report. In line with Wood Mackenzie?s observations, Lee believes field operators in the U.S. Gulf will have less qualms moving on with sanctioned projects although he acknowledged the outlook for further field developments in the region remains hazy. SUBSEA TIE-BACK DEMAND OFFERS LIKELY BOOST However, Lee believes subsea tie-back demand will hold out through the down cycle, drawing on a historical reference: ?Technip?s [pipelay and subsea construction vessel] Deep Blue did about $1 billion worth of work in 2009 when oil prices were low.? That?s because field operators will still face pressure to maintain production. ?You are talking about a lot of tie-backs because production will dwindle and more wells need to be brought onstream,? Lee explained. EMAS AMC has two vessels, Lewek Constellation and Express, which are well placed to contend for subsea tie-back installation. According to Lee, each subsea tie-back job though costing much less than a greenfield deepwater floating production development, will have a price tag of at least $100 million. EZRA SEES SUBSEA OPPORTUNITIES IN AFRICA Lee is particularly buoyant over subsea developments in Africa. The Ezra CEO flagged opportunities in Gabon, Angola, Ghana and Nigeria, where the local governments acting under pressure to deliver economic growth, would still be ramping up oil and gas production. The ?gigantic producing fields of Total S.A. in Angola? could see ?a lot of tie-backs? in the next two years. Activity is also picking up in East Africa, where major gas discoveries were found off Mozambique and Tanzania, but ?a lot of work will come only [towards] the end of the year?, Lee said. At the time of writing, EMAS AMC?s flagship multi-lay vessel, Lewek Constellation is gearing up with its ?full armor? and undergoing a series of equipment trials before heading to the U.S. Gulf for its contracted work with Noble Energy. Ezra CEO: EMAS AMC Order Backlog Will Hold on Subsea Tie-Back Demand Lewek Constellation Multi-lay Vessel Source: Ezra Noble Energy has contracted Lewek Constellation for subsea tie-backs in Big Bend, Dantzler and Gunflint field developments this year. The three Noble Energy-operated field developments are among 13 deepwater fields to begin production in 2015 and 2016, according to the U.S. Energy Information Administration. Lewek Constellation is also contracted for installation of a subsea tie-back development in Apache Energy-operated Julimar development off Australia. Apache is expected to hand over its operating interests in Julimar to Woodside Petroleum Ltd. in June. Lee expects more subsea tie-back activity in Australia as more export-oriented mega liquefied natural gas (LNG) projects off Western Australia ? Inpex Corp.?s Ichthys and Chevron?s Wheatstone ? commence production following the start-up of Woodside?s Pluto LNG project. These large-scale LNG-based developments would look to more feed gas from neighboring fields to extend the production lives of their multi-billion assets. Rigzone understands U.S. independent Hess Corp. is set to reactivate its Equus gas development, which will be exporting gas via the North West Shelf Venture?s North Rankin A platform to the 12 million tons per annum Karratha plant. In addition to the subsea prospects off Australia, Lee also highlighted Chevron-operated Gendalo-Gehem gas and condensate development off Indonesia. He expects Chevron to float a re-tender for the subsea package valued at between $3 billion and $5 billion. Off India, EMAS AMC is eyeing a role in the R-series subsea development in the deepwater Block KG D6 operated by Reliance Industries Ltd. Lee acknowledged EMAS AMC will likely team up with international subsea contractors the likes of Saipem S.p.A. and Allseas Group SA, which have the required capabilities for expected trunkline installation requirements tied to Gendalo-Gehem and KG D6 subsea packages. EMAS AMC is also understood to be pursuing a pipeline installation contract linked to a greenfield development in Saudi Arabia, which produced a record 10.3 million barrels of crude oil in March. Industry sources tell Rigzone that Saudi Aramco has pledged to spend $4 billion a year on greenfield developments in spite of the lower oil prices. - See more at: http://www.rigzone.com/news/oil_gas/a/138090/Ezra_CEO_EMAS_AMC_Order_Backlog_Will_Hold_on_Subsea_TieBack_Demand/?all=HG2#sthash.Sy3MmysM.dpuf |
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makdatok
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07-Jun-2015 12:56
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My question is..does EZRA own any significant oil/gas field...or just doing sevice operation...can anyone enlighten me... | ||||
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makdatok
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07-Jun-2015 12:51
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I dont follow ezra that much.Does its operation involve fracking??shale??..if not,the breakeven price will be much lower for profitabality...Regarding oil supply,OPEC had retain production volume,that is UNCHANGE..As we know,global demand keep on increasing..If those outside OPEC also play their part by not increasing production,couple with USA seen production lower,there will be some tightening of excess oil on d market..thats my take.. | ||||
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Lucky03
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07-Jun-2015 12:02
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http://www.woodmac.com/public/views/OPEC-retains-production-ceiling
OPEC retains production ceiling to maintain market share OPEC members agreed to maintain their current production ceiling of 30.0 million b/d at the 167th (Ordinary) OPEC meeting in Vienna on 5 June and the oil market rose briefly on this news. While the decision has little impact on OPEC production, it does reaffirm the commitment, or Saudi Arabia's as lead decision maker, to the strategy of refusing to cut production to support oil prices. This was first agreed at the late November 2014 OPEC meeting, with the aim of allowing prices to fall and force other higher cost producers to eventually reduce output through reduced spending. Saudi Arabia and OPEC have been showing no sign of abandoning this policy. Current OPEC crude output is around 0.5 million b/d above the 30 million b/d ceiling. Output fell back slightly in the aftermath of the November 2014 meeting due to the deteriorating security situation in Libya, but since the turn of the year, we have seen a marked increase in production volumes. Saudi Arabia stepped up output to 10.3 million b/d at the end of the first quarter, and there has been significant growth in Iraq production. Combined production from Iraq and Saudi Arabia is expected to show an average year-on-year increase of 720,000 b/d in the second quarter of 2015, lifting OPEC crude production well above the production ceiling of 30 million b/d. The lower oil price since November 2014 has affected US production, the leading source of strong non-OPEC production growth. The US onshore Lower 48 is reacting quickest to low prices, as anticipated. The oil rig count has fallen by over 50% since the highs of late 2014, but the strong momentum from record activity levels late in the year continued to support US supply growth in early 2015. The pace of production growth has now slowed markedly, and after showing year-on-year growth of over one million b/d in 2013 and 2014, US output is forecast to rise by 0.7 million b/d in 2015 and only 0.2 million b/d in 2016. Lower oil prices have also spurred oil demand strength especially in the United States. Saudi Arabia has boosted its output during the second quarter of 2015, responding to demand from buyers in Asia. The shifting fundamentals of stronger oil demand growth and weakening supply gains during 2015 have supported prices at higher levels than seen in early 2015. For 2016, we expect world oil demand growth to surpass supply leading to moderately higher prices, with an annual average for Brent forecast at $69.80 for 2016, up from a projected annual average of $60.70 for Brent in 2015. |
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Lucky03
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07-Jun-2015 11:05
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There will be some actions over next 2 weeks as Ezra needs to fix the EGM at least 2 week before Jun 25 when the shares will be expected to trade cum rights. It will also need to circulate the rights material before EGM which means it should have fixed the price of rights and conversion a few days before probably mid Jun. So, if they want to set a higher price and lower dilutive effect, somehow the underwriters may wan | ||||
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Observers
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07-Jun-2015 09:30
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I took a closer look at the convertible bonds. Seems like this conversion ratio is still a moving number - i.e. final dilutive effect is yet unknown? If I remember right, the conversion pricing is terp + 15% (min). Meaning theoretical lowest possible terp is at $0.00 market value (highly unlikely unless insolvent) and a 1 mother for 2 rights at 10 cents each, yielding a terp of 6.66 cents? And a theoretical minimum conversion price of 6.66 x 1.15 = 7.65 cents and theoretical maximum of 2,614,379,084 conversion shares issue(from S$200mil to be raised)? Personally, I feel there are too many unknowns for the retail investor right now, and oil price as well as supply plays a huge role in the equation. Even if price rise moderately, with ample supply of crude and if it doesnt hit the break even point of deep sea oil, its still not going to help much. Anyone knows the break even cost of extraction for Ezra' s customers? |
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bishan22
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07-Jun-2015 08:45
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Looks like oily counters will have dry spell for the next 6 months. Put in your freezer and look at other sectors. |
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Shifu8888
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06-Jun-2015 21:57
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No company is the same. Swiber, pacific...... Everyone has own finger prints. Founding family has more to lose than gain if this company fail. Wil continue picking durians, may be pricked when prying open. Willing buyer willing seller. At the end of the day, the taste should be delicious. My pov. All the best. | ||||
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Lucky03
Elite |
06-Jun-2015 17:42
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The link doesn't work ?
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nngeeh
Veteran |
06-Jun-2015 16:40
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I mean unlike bond..not unless
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nngeeh
Veteran |
06-Jun-2015 16:29
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If i recall correctly, Ezra is raising fund to redeem bonds that will be expiring soon. Raising fund thru rights wont hurt the wealth of Ezra as the company doesn't need to pay any interest unless bond but able to increase capital by issuing shares. The one that will suffer is the existing shareholders. Not only the current share price will suffer, and they will need to fork out fund for the rights.
Once the threat of war in middle east subside, and Iran is able to srll oil, the oil price might be pressurised again. Interest is definitely raising and it'll be even more expensive to raise fund.. and thus the rights exercise.
Their situation is quite identical to Swiber ( Swiber has few bonds that will be expiring soon). But swiber's rights are based on 1 r for 2 shares.. and Ezra is 2 R for 1 Share. Ezra's share will be further diluted. I think the outcome will be worst than swiber.
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edwinjup
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06-Jun-2015 16:13
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My lousy advise ....if u got 30 lots...sell 20 lots before xr.....and use the money to funds the 20 lots allocated right and apply extra right with the bal money.....or more if u keen....lol
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edwinjup
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06-Jun-2015 16:08
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Xr rights maybe around 15-18c....so better dont play contra....u need to top up the diff first....rem is 2 for 1...and not 1 for 2....great diff in price after xr | ||||
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