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didisiaosiao Master	28-Aug-2015 06:09        didisiaosiao About Contact  Quote this Post!
x 0   x 0  Alert Admin	didisiaosiao ( Date: 24-Aug-2015 22:25) Posted: U shorted? Becareful.... joshua182 ( Date: 24-Aug-2015 21:54) Posted: technical bounce... BBs were trying to force retail shorts to cover. Tonight dow will be down at least 500 points. 1000 points was seen also. China' s pension fund ploy didn' t stem the flood of sellers. Big holders have long cleared out, only retailers selling now. Tmr Ezion and STI will bleed. Katek die pain pain didisiaosiao      ( Date: 28-Aug-2015 06:03) Posted: Again, e question is, you shorted? Like in ezion thread when ezion was trading at 0.60 range, i already warned: BECAREFUL...... joshua182      ( Date: 27-Aug-2015 23:24) Posted: precisely.... i was seriously wondering where lionel pulled the 1.X billion from. note the statement is carefully structured to sound positive- huge numbers, foreign japanese investor, more capital.. etc etc. The truth is that ezra just sold half of one of their few profitable subsidiaries for a deep, deep discount.  could it be that the recent redemption which was successfully completed starting to strain it' s books?  please note that the amount corresponds to the redemption value... 150 million... did Ezra just SELL a VALUABLE asset to be able to pay up???
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didisiaosiao Master	28-Aug-2015 06:03        didisiaosiao About Contact  Quote this Post!
x 0   x 0  Alert Admin	Again, e question is, you shorted? Like in ezion thread when ezion was trading at 0.60 range, i already warned: BECAREFUL...... joshua182      ( Date: 27-Aug-2015 23:24) Posted: precisely.... i was seriously wondering where lionel pulled the 1.X billion from. note the statement is carefully structured to sound positive- huge numbers, foreign japanese investor, more capital.. etc etc. The truth is that ezra just sold half of one of their few profitable subsidiaries for a deep, deep discount.  could it be that the recent redemption which was successfully completed starting to strain it' s books?  please note that the amount corresponds to the redemption value... 150 million... did Ezra just SELL a VALUABLE asset to be able to pay up??? earlybird14      ( Date: 27-Aug-2015 23:14) Posted: So mean the subsidiary worth 1.2billion( Ezra think so? Or market think so? Or price Ezra bought at peak market). The existing subsea subsidiary used to be 100% owned by Ezra. Now Ezra surrender the 50% to Japanese firm. Japanese firm pay 150mio for it, then inject 30mio to the 50:50 JV. Can I say that Ezra just sell a 600mio worth subsidiary right to Japanese firm at 150mio cash. So the Japanese firm will pump in 30mio cash in JV( which Ezra indirectly have 15mio) A deal easily written of 600-150-15= 435mio from their balance sheet in return of 150mio cash. Good deal? May be. Just show how desperate Ezra are selling asset at cheap in return of cash to survive. Good news? May be, since delay her bankruptcy period with 150mio cash
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niteowl68 Elite	28-Aug-2015 01:03        niteowl68 About Contact  Quote this Post!   Yells: "God Bleess You"
x 0   x 0  Alert Admin	Five sour grapes for you cannot add up to one sweet one... no credibilty at all.. mouth not at the right place n just shoot from hip! You short and trying to talk down Ezra? If true then congrats for shorting as you will be the one peeing in your pants n cannot sleep tonight.. hahaha Every longists on this forum.. shoot this Delso down as he shouted for Ezra to go 5c! delsolvtec      ( Date: 27-Aug-2015 14:04) Posted: Yah prob Ezra planning 5 for 1 consolidation. I doubt in this environment anyone will wanna buy them out. Whoever is still holding their shares must be sh*ting bricks....cant sell to zhao even, all kena tiao pnuklis      ( Date: 27-Aug-2015 13:50) Posted: consolidation must be 5 or 10 to 1 and not on the border to 2:1.
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niteowl68 Elite	28-Aug-2015 00:19        niteowl68 About Contact  Quote this Post!   Yells: "God Bleess You"
x 0   x 0  Alert Admin	Brilliant move by Ezra... shows the mettle of Management as they are able to deliver such a deal and unlock value for shareholders under such Mkt conditions! Summary: 1. Move USD 530M debt to 50% JV Newco.. this in effect reduces Ez' s net debt by USD265M. 2. Get USD 150M Cash for doing this., helps Ez balance sheet. 3. Cash injection of USD 30M into Newco which is worth USD 15M to Ezra. 4. Getting a Giant on board..Chiyoda is a world leading engineering company.. bring in so many intangible benefits...  be it technology, clientele, business contacts, etc. etc. opening doors to 40 countries where CHiyoda has big projects.. definitely will help Ez tremendously!  5. Deal worth USD 1.25 BILLION !   50% is USD 625 Million which works out to $0.298 per share. Add that to Ez last traded Mkt price of $0.114 = S$ 0.412 !   Won' t be surprised to see BID AT 41.2c on opening 28. 8... all Huat Numbers.   With the huge shortcovering to be done, price can be chased to 50 cents!   Cheong Ahh.. .888 !   Shortists are trying to talk down the stock tonight as they are peeing in their pants and cannot sleep.. HIAK HIAK HIAK..
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earlybird14 Supreme	27-Aug-2015 23:55        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Walan, the previous one mislead lah. This one clearer. is a good deal. 1.2bil just indicate what is the value involvement in this deal. Since when the company will disclose what is the asset value recorded in their book for this deal. Anyway, Ezra get 150 mio cash by selling half of subsea subsidiary. Only they know how much they spend to build this subsidiary in the past, now sell 50% ownership with 150mio. So unknown asset value record on non current asset. Just for the surface on the news, shall be up bah Maller      ( Date: 27-Aug-2015 23:46) Posted: Please see the news carefully, don' t assume here. Straits Times reports goof enough for u guys? http://www.businesstimes.com.sg/companies-markets/ezra-to-sell-half-of-subsea-arm-to-japans-chiyoda-for-us180-million Chiyoda will pay US$180 million in cash for a 50 per cent stake in the unit, which values EMAS AMC at US$360 million in terms of equity. Including the US$530 million of third-party net debt that EMAS AMC holds and another US$360 million in long-term funding from Ezra, the total deal value would be US$1.25 billion, Ezra added....
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dead44 Senior	27-Aug-2015 23:49        dead44 About Contact  Quote this Post!
x 0   x 1  Alert Admin	Many augment here , impt to try pin down real value of share nta about .70 . Maybe px should be around .4 to .5 $ now. Shortie will be covering tomorow.may be $1.hopefuly
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Maller Elite	27-Aug-2015 23:46        Maller About Contact  Quote this Post!
x 0   x 0  Alert Admin	Please see the news carefully, don' t assume here. Straits Times reports goof enough for u guys? http://www.businesstimes.com.sg/companies-markets/ezra-to-sell-half-of-subsea-arm-to-japans-chiyoda-for-us180-million Chiyoda will pay US$180 million in cash for a 50 per cent stake in the unit, which values EMAS AMC at US$360 million in terms of equity. Including the US$530 million of third-party net debt that EMAS AMC holds and another US$360 million in long-term funding from Ezra, the total deal value would be US$1.25 billion, Ezra added....
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earlybird14 Supreme	27-Aug-2015 23:44        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	See how market digest it. May be up because of delay in bankruptcy. But those buy one have to worry in next quarter result since it will report 435mio loss. So, if up,'manage to earn, don't hold, just sell it with profit. joshua182      ( Date: 27-Aug-2015 23:41) Posted: i think there will be a sharp rise, followed by fall.. or maybe rise for a couple days more? crude oil having a nice technical rebound now but with the end of the summer driving season and Iranian oil due to implode anytime soon, still bearish for me. just be very careful about " buying on news" .. you want to buy on the rumor, and sell on the news.. there' s a reason why ezra spiked before halting on a day other counters were only doing so-so... many of those who bought may very soon be looking to sell.. i have zero idea how the market is going to interpret this announcement though, given the sentiments seem positive but the truth is, this company is still mired in debt and is in one of the strongest valid downtrends of any SGX stock..   lawrence83      ( Date: 27-Aug-2015 23:32) Posted: So...should we buy more tommorrow ?
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earlybird14 Supreme	27-Aug-2015 23:42        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Bro, this 1.2billion is the figure they recorded on their balance sheet, which is the valuation cost of their assets. So 50% of this is going to be gone. They have to put this figure to address it. So next quarter result we will see 600mio disappear from the property and asset in their non current asset. At the same time see 150 Mio cash on their cash( may be cannot see, used for loan payment Liao) Then they have to report non cash impairment loss on result which is 435mio loss. NAV value will be discounted. No more 50 cents? I don't know I see someone post it before, have to recalculate what is nav after this deal. When a stock price down, mean his industry is down, the asset they own shall be devalued which need to report and record as impairment loss. Transocean and few offshore players listed in U.S. All do the same to report non cash impairment loss. Only sgx, don't force them to write off, and show a unreal NAV value to mislead people. Noble also same case as above. I really hope a lot can be enlightened from Ezra case and know what happen on noble, and what iceberg and mr dee trying to tell. Impairment loss must be written off according to market condition, written in as well according to market condition. You know who write in the most in the same industry in good time? Ezion, a lot not aware of it and amazing how Ezion report so high profit at good time, a lot are gain from asset gain at good time. Sgx please be hardworking and do something on it, otherwise, just a low class exchange. joshua182      ( Date: 27-Aug-2015 23:29) Posted: Ezra market cap is 300 plus million... where did they pull the 1.4 billion from sia? hopes and dreams?
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joshua182 Member	27-Aug-2015 23:41        joshua182 About Contact  Quote this Post!
x 0   x 0  Alert Admin	i think there will be a sharp rise, followed by fall.. or maybe rise for a couple days more? crude oil having a nice technical rebound now but with the end of the summer driving season and Iranian oil due to implode anytime soon, still bearish for me. just be very careful about " buying on news" .. you want to buy on the rumor, and sell on the news.. there' s a reason why ezra spiked before halting on a day other counters were only doing so-so... many of those who bought may very soon be looking to sell.. i have zero idea how the market is going to interpret this announcement though, given the sentiments seem positive but the truth is, this company is still mired in debt and is in one of the strongest valid downtrends of any SGX stock..   lawrence83      ( Date: 27-Aug-2015 23:32) Posted: So...should we buy more tommorrow ?
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Maller Elite	27-Aug-2015 23:36        Maller About Contact  Quote this Post!
x 0   x 0  Alert Admin	Think there are shortists in this thread but will buy tmr...If u think EZRA good, but more, if not stay sideline loh
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lawrence83 Senior	27-Aug-2015 23:32        lawrence83 About Contact  Quote this Post!
x 0   x 0  Alert Admin	So...should we buy more tommorrow ?
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joshua182 Member	27-Aug-2015 23:29        joshua182 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Ezra market cap is 300 plus million... where did they pull the 1.4 billion from sia? hopes and dreams?
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earlybird14 Supreme	27-Aug-2015 23:29        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	They need cash to pay off the mature debt desperately. The right issue money may not enough. They just try their best to prevent default and hope for the best oil recovery. If oil don't recover, they use out the cash, still tio. joshua182      ( Date: 27-Aug-2015 23:24) Posted: precisely.... i was seriously wondering where lionel pulled the 1.X billion from. note the statement is carefully structured to sound positive- huge numbers, foreign japanese investor, more capital.. etc etc. The truth is that ezra just sold half of one of their few profitable subsidiaries for a deep, deep discount.  could it be that the recent redemption which was successfully completed starting to strain it' s books?  please note that the amount corresponds to the redemption value... 150 million... did Ezra just SELL a VALUABLE asset to be able to pay up??? earlybird14      ( Date: 27-Aug-2015 23:14) Posted: So mean the subsidiary worth 1.2billion( Ezra think so? Or market think so? Or price Ezra bought at peak market). The existing subsea subsidiary used to be 100% owned by Ezra. Now Ezra surrender the 50% to Japanese firm. Japanese firm pay 150mio for it, then inject 30mio to the 50:50 JV. Can I say that Ezra just sell a 600mio worth subsidiary right to Japanese firm at 150mio cash. So the Japanese firm will pump in 30mio cash in JV( which Ezra indirectly have 15mio) A deal easily written of 600-150-15= 435mio from their balance sheet in return of 150mio cash. Good deal? May be. Just show how desperate Ezra are selling asset at cheap in return of cash to survive. Good news? May be, since delay her bankruptcy period with 150mio cash
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earlybird14 Supreme	27-Aug-2015 23:25        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Paiseh, say wrongly, shall be easily written off 600mio from the balance sheet and in return off 150mio cash, so impairment loss of 435mio. Tomorrow may run up for delay in bankruptcy. But what happen next quarter? Report loss from this deal for 435mio. Good job Lionel lee earlybird14      ( Date: 27-Aug-2015 23:14) Posted: So mean the subsidiary worth 1.2billion( Ezra think so? Or market think so? Or price Ezra bought at peak market). The existing subsea subsidiary used to be 100% owned by Ezra. Now Ezra surrender the 50% to Japanese firm. Japanese firm pay 150mio for it, then inject 30mio to the 50:50 JV. Can I say that Ezra just sell a 600mio worth subsidiary right to Japanese firm at 150mio cash. So the Japanese firm will pump in 30mio cash in JV( which Ezra indirectly have 15mio) A deal easily written of 600-150-15= 435mio from their balance sheet in return of 150mio cash. Good deal? May be. Just show how desperate Ezra are selling asset at cheap in return of cash to survive. Good news? May be, since delay her bankruptcy period with 150mio cash. dingbat      ( Date: 27-Aug-2015 18:21) Posted: Must be in for the long haul survive O& G doldrums and threats of consolidation to get any meat. Hope the coy will rally 2moro instead of selling on news.  " Singapore&rsquo s Ezra Holdings and Chiyoda Corporation have signed a memorandum of understanding (MOU) that will see the Japanese company buy half of Ezra&rsquo s existing subsea services unit to form a new a 50:50 joint venture, in a deal worth around $1.25bn. Taking over from its predecessor EMAS AMC, the new JV company EMAS Chiyoda Subsea will continue to specialise in engineering, procurement, construction and installation (EPCI) contracts, with its own fleet of construction vessels. Chiyoda will pay Ezra $150m in cash and inject $30m in additional capital into the JV company. Ezra says it also plans to capitalise part of the existing inter-company debt owed by EMAS AMC. As of May 31 this year, the company&rsquo s unaudited net debt stood at $530m. The deal is subject to the approval of both companies&rsquo shareholders, but is expected to be completed before the end of this year. &ldquo This is a very important milestone for us. It has been Chiyoda&rsquo s corporate strategy to strengthen the offshore upstream portfolio as Chiyoda&rsquo s next core business,&rdquo Shogo Shibuya, president and CEO of Chiyoda, said in a statement. &ldquo With the establishment of EMAS Chiyoda Subsea, we are in a position to provide comprehensive services to our clients, from early phase concept study to EPCI, throughout the lifecycle of any offshore oil and gas project.&rdquo Lionel Lee, group CEO and managing director of Ezra, added: &ldquo This JV will allow us to realise our vision of being a trusted partner and leader in the subsea construction business. It will enable us to under take large complex EPCI projects, as well as full field developments, which combine onshore and offshore facilities.&rdquo Singapore&rsquo s Ezra Holdings and Chiyoda Corporation have signed a memorandum of understanding (MOU) that will see the Japanese company buy half of Ezra&rsquo s existing subsea services unit to form a new a 50:50 joint venture, in a deal worth around $1.25bn. Taking over from its predecessor EMAS AMC, the new JV company EMAS Chiyoda Subsea will continue to specialise in engineering, procurement, construction and installation (EPCI) contracts, with its own fleet of construction vessels. Chiyoda will pay Ezra $150m in cash and inject $30m in additional capital into the JV company. Ezra says it also plans to capitalise part of the existing inter-company debt owed by EMAS AMC. As of May 31 this year, the company&rsquo s unaudited net debt stood at $530m. The deal is subject to the approval of both companies&rsquo shareholders, but is expected to be completed before the end of this year. &ldquo This is a very important milestone for us. It has been Chiyoda&rsquo s corporate strategy to strengthen the offshore upstream portfolio as Chiyoda&rsquo s next core business,&rdquo Shogo Shibuya, president and CEO of Chiyoda, said in a statement. &ldquo With the establishment of EMAS Chiyoda Subsea, we are in a position to provide comprehensive services to our clients, from early phase concept study to EPCI, throughout the lifecycle of any offshore oil and gas project.&rdquo Lionel Lee, group CEO and managing director of Ezra, added: &ldquo This JV will allow us to realise our vision of being a trusted partner and leader in the subsea construction business. It will enable us to under take large complex EPCI projects, as well as full field developments, which combine onshore and offshore facilities.&rdquo "
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delsolvtec Member	27-Aug-2015 23:24        delsolvtec About Contact  Quote this Post!
x 0   x 0  Alert Admin	looks like to "tampah" the inevitable only. earlybird14      ( Date: 27-Aug-2015 23:14) Posted: So mean the subsidiary worth 1.2billion( Ezra think so? Or market think so? Or price Ezra bought at peak market). The existing subsea subsidiary used to be 100% owned by Ezra. Now Ezra surrender the 50% to Japanese firm. Japanese firm pay 150mio for it, then inject 30mio to the 50:50 JV. Can I say that Ezra just sell a 600mio worth subsidiary right to Japanese firm at 150mio cash. So the Japanese firm will pump in 30mio cash in JV( which Ezra indirectly have 15mio) A deal easily written of 600-150-15= 435mio from their balance sheet in return of 150mio cash. Good deal? May be. Just show how desperate Ezra are selling asset at cheap in return of cash to survive. Good news? May be, since delay her bankruptcy period with 150mio cash. dingbat      ( Date: 27-Aug-2015 18:21) Posted: Must be in for the long haul survive O& G doldrums and threats of consolidation to get any meat. Hope the coy will rally 2moro instead of selling on news.  " Singapore&rsquo s Ezra Holdings and Chiyoda Corporation have signed a memorandum of understanding (MOU) that will see the Japanese company buy half of Ezra&rsquo s existing subsea services unit to form a new a 50:50 joint venture, in a deal worth around $1.25bn. Taking over from its predecessor EMAS AMC, the new JV company EMAS Chiyoda Subsea will continue to specialise in engineering, procurement, construction and installation (EPCI) contracts, with its own fleet of construction vessels. Chiyoda will pay Ezra $150m in cash and inject $30m in additional capital into the JV company. Ezra says it also plans to capitalise part of the existing inter-company debt owed by EMAS AMC. As of May 31 this year, the company&rsquo s unaudited net debt stood at $530m. The deal is subject to the approval of both companies&rsquo shareholders, but is expected to be completed before the end of this year. &ldquo This is a very important milestone for us. It has been Chiyoda&rsquo s corporate strategy to strengthen the offshore upstream portfolio as Chiyoda&rsquo s next core business,&rdquo Shogo Shibuya, president and CEO of Chiyoda, said in a statement. &ldquo With the establishment of EMAS Chiyoda Subsea, we are in a position to provide comprehensive services to our clients, from early phase concept study to EPCI, throughout the lifecycle of any offshore oil and gas project.&rdquo Lionel Lee, group CEO and managing director of Ezra, added: &ldquo This JV will allow us to realise our vision of being a trusted partner and leader in the subsea construction business. It will enable us to under take large complex EPCI projects, as well as full field developments, which combine onshore and offshore facilities.&rdquo Singapore&rsquo s Ezra Holdings and Chiyoda Corporation have signed a memorandum of understanding (MOU) that will see the Japanese company buy half of Ezra&rsquo s existing subsea services unit to form a new a 50:50 joint venture, in a deal worth around $1.25bn. Taking over from its predecessor EMAS AMC, the new JV company EMAS Chiyoda Subsea will continue to specialise in engineering, procurement, construction and installation (EPCI) contracts, with its own fleet of construction vessels. Chiyoda will pay Ezra $150m in cash and inject $30m in additional capital into the JV company. Ezra says it also plans to capitalise part of the existing inter-company debt owed by EMAS AMC. As of May 31 this year, the company&rsquo s unaudited net debt stood at $530m. The deal is subject to the approval of both companies&rsquo shareholders, but is expected to be completed before the end of this year. &ldquo This is a very important milestone for us. It has been Chiyoda&rsquo s corporate strategy to strengthen the offshore upstream portfolio as Chiyoda&rsquo s next core business,&rdquo Shogo Shibuya, president and CEO of Chiyoda, said in a statement. &ldquo With the establishment of EMAS Chiyoda Subsea, we are in a position to provide comprehensive services to our clients, from early phase concept study to EPCI, throughout the lifecycle of any offshore oil and gas project.&rdquo Lionel Lee, group CEO and managing director of Ezra, added: &ldquo This JV will allow us to realise our vision of being a trusted partner and leader in the subsea construction business. It will enable us to under take large complex EPCI projects, as well as full field developments, which combine onshore and offshore facilities.&rdquo "
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joshua182 Member	27-Aug-2015 23:24        joshua182 About Contact  Quote this Post!
x 0   x 0  Alert Admin	precisely.... i was seriously wondering where lionel pulled the 1.X billion from. note the statement is carefully structured to sound positive- huge numbers, foreign japanese investor, more capital.. etc etc. The truth is that ezra just sold half of one of their few profitable subsidiaries for a deep, deep discount.  could it be that the recent redemption which was successfully completed starting to strain it' s books?  please note that the amount corresponds to the redemption value... 150 million... did Ezra just SELL a VALUABLE asset to be able to pay up??? earlybird14      ( Date: 27-Aug-2015 23:14) Posted: So mean the subsidiary worth 1.2billion( Ezra think so? Or market think so? Or price Ezra bought at peak market). The existing subsea subsidiary used to be 100% owned by Ezra. Now Ezra surrender the 50% to Japanese firm. Japanese firm pay 150mio for it, then inject 30mio to the 50:50 JV. Can I say that Ezra just sell a 600mio worth subsidiary right to Japanese firm at 150mio cash. So the Japanese firm will pump in 30mio cash in JV( which Ezra indirectly have 15mio) A deal easily written of 600-150-15= 435mio from their balance sheet in return of 150mio cash. Good deal? May be. Just show how desperate Ezra are selling asset at cheap in return of cash to survive. Good news? May be, since delay her bankruptcy period with 150mio cash. dingbat      ( Date: 27-Aug-2015 18:21) Posted: Must be in for the long haul survive O& G doldrums and threats of consolidation to get any meat. Hope the coy will rally 2moro instead of selling on news.  " Singapore&rsquo s Ezra Holdings and Chiyoda Corporation have signed a memorandum of understanding (MOU) that will see the Japanese company buy half of Ezra&rsquo s existing subsea services unit to form a new a 50:50 joint venture, in a deal worth around $1.25bn. Taking over from its predecessor EMAS AMC, the new JV company EMAS Chiyoda Subsea will continue to specialise in engineering, procurement, construction and installation (EPCI) contracts, with its own fleet of construction vessels. Chiyoda will pay Ezra $150m in cash and inject $30m in additional capital into the JV company. Ezra says it also plans to capitalise part of the existing inter-company debt owed by EMAS AMC. As of May 31 this year, the company&rsquo s unaudited net debt stood at $530m. The deal is subject to the approval of both companies&rsquo shareholders, but is expected to be completed before the end of this year. &ldquo This is a very important milestone for us. It has been Chiyoda&rsquo s corporate strategy to strengthen the offshore upstream portfolio as Chiyoda&rsquo s next core business,&rdquo Shogo Shibuya, president and CEO of Chiyoda, said in a statement. &ldquo With the establishment of EMAS Chiyoda Subsea, we are in a position to provide comprehensive services to our clients, from early phase concept study to EPCI, throughout the lifecycle of any offshore oil and gas project.&rdquo Lionel Lee, group CEO and managing director of Ezra, added: &ldquo This JV will allow us to realise our vision of being a trusted partner and leader in the subsea construction business. It will enable us to under take large complex EPCI projects, as well as full field developments, which combine onshore and offshore facilities.&rdquo Singapore&rsquo s Ezra Holdings and Chiyoda Corporation have signed a memorandum of understanding (MOU) that will see the Japanese company buy half of Ezra&rsquo s existing subsea services unit to form a new a 50:50 joint venture, in a deal worth around $1.25bn. Taking over from its predecessor EMAS AMC, the new JV company EMAS Chiyoda Subsea will continue to specialise in engineering, procurement, construction and installation (EPCI) contracts, with its own fleet of construction vessels. Chiyoda will pay Ezra $150m in cash and inject $30m in additional capital into the JV company. Ezra says it also plans to capitalise part of the existing inter-company debt owed by EMAS AMC. As of May 31 this year, the company&rsquo s unaudited net debt stood at $530m. The deal is subject to the approval of both companies&rsquo shareholders, but is expected to be completed before the end of this year. &ldquo This is a very important milestone for us. It has been Chiyoda&rsquo s corporate strategy to strengthen the offshore upstream portfolio as Chiyoda&rsquo s next core business,&rdquo Shogo Shibuya, president and CEO of Chiyoda, said in a statement. &ldquo With the establishment of EMAS Chiyoda Subsea, we are in a position to provide comprehensive services to our clients, from early phase concept study to EPCI, throughout the lifecycle of any offshore oil and gas project.&rdquo Lionel Lee, group CEO and managing director of Ezra, added: &ldquo This JV will allow us to realise our vision of being a trusted partner and leader in the subsea construction business. It will enable us to under take large complex EPCI projects, as well as full field developments, which combine onshore and offshore facilities.&rdquo "
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earlybird14 Supreme	27-Aug-2015 23:14        earlybird14 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	So mean the subsidiary worth 1.2billion( Ezra think so? Or market think so? Or price Ezra bought at peak market). The existing subsea subsidiary used to be 100% owned by Ezra. Now Ezra surrender the 50% to Japanese firm. Japanese firm pay 150mio for it, then inject 30mio to the 50:50 JV. Can I say that Ezra just sell a 600mio worth subsidiary right to Japanese firm at 150mio cash. So the Japanese firm will pump in 30mio cash in JV( which Ezra indirectly have 15mio) A deal easily written of 600-150-15= 435mio from their balance sheet in return of 150mio cash. Good deal? May be. Just show how desperate Ezra are selling asset at cheap in return of cash to survive. Good news? May be, since delay her bankruptcy period with 150mio cash. dingbat      ( Date: 27-Aug-2015 18:21) Posted: Must be in for the long haul survive O& G doldrums and threats of consolidation to get any meat. Hope the coy will rally 2moro instead of selling on news.  " Singapore&rsquo s Ezra Holdings and Chiyoda Corporation have signed a memorandum of understanding (MOU) that will see the Japanese company buy half of Ezra&rsquo s existing subsea services unit to form a new a 50:50 joint venture, in a deal worth around $1.25bn. Taking over from its predecessor EMAS AMC, the new JV company EMAS Chiyoda Subsea will continue to specialise in engineering, procurement, construction and installation (EPCI) contracts, with its own fleet of construction vessels. Chiyoda will pay Ezra $150m in cash and inject $30m in additional capital into the JV company. Ezra says it also plans to capitalise part of the existing inter-company debt owed by EMAS AMC. As of May 31 this year, the company&rsquo s unaudited net debt stood at $530m. The deal is subject to the approval of both companies&rsquo shareholders, but is expected to be completed before the end of this year. &ldquo This is a very important milestone for us. It has been Chiyoda&rsquo s corporate strategy to strengthen the offshore upstream portfolio as Chiyoda&rsquo s next core business,&rdquo Shogo Shibuya, president and CEO of Chiyoda, said in a statement. &ldquo With the establishment of EMAS Chiyoda Subsea, we are in a position to provide comprehensive services to our clients, from early phase concept study to EPCI, throughout the lifecycle of any offshore oil and gas project.&rdquo Lionel Lee, group CEO and managing director of Ezra, added: &ldquo This JV will allow us to realise our vision of being a trusted partner and leader in the subsea construction business. It will enable us to under take large complex EPCI projects, as well as full field developments, which combine onshore and offshore facilities.&rdquo Singapore&rsquo s Ezra Holdings and Chiyoda Corporation have signed a memorandum of understanding (MOU) that will see the Japanese company buy half of Ezra&rsquo s existing subsea services unit to form a new a 50:50 joint venture, in a deal worth around $1.25bn. Taking over from its predecessor EMAS AMC, the new JV company EMAS Chiyoda Subsea will continue to specialise in engineering, procurement, construction and installation (EPCI) contracts, with its own fleet of construction vessels. Chiyoda will pay Ezra $150m in cash and inject $30m in additional capital into the JV company. Ezra says it also plans to capitalise part of the existing inter-company debt owed by EMAS AMC. As of May 31 this year, the company&rsquo s unaudited net debt stood at $530m. The deal is subject to the approval of both companies&rsquo shareholders, but is expected to be completed before the end of this year. &ldquo This is a very important milestone for us. It has been Chiyoda&rsquo s corporate strategy to strengthen the offshore upstream portfolio as Chiyoda&rsquo s next core business,&rdquo Shogo Shibuya, president and CEO of Chiyoda, said in a statement. &ldquo With the establishment of EMAS Chiyoda Subsea, we are in a position to provide comprehensive services to our clients, from early phase concept study to EPCI, throughout the lifecycle of any offshore oil and gas project.&rdquo Lionel Lee, group CEO and managing director of Ezra, added: &ldquo This JV will allow us to realise our vision of being a trusted partner and leader in the subsea construction business. It will enable us to under take large complex EPCI projects, as well as full field developments, which combine onshore and offshore facilities.&rdquo "
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joshua182 Member	27-Aug-2015 22:50        joshua182 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Ezra just sold off half of it' s few remaining profitable divisons and everyone is rejoicing :D
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Maller Elite	27-Aug-2015 22:30        Maller About Contact  Quote this Post!
x 0   x 1  Alert Admin	So tmr possible 25cents? Huat ah...
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