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Will it Break 10cents again???
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Wisely
Senior |
01-Sep-2016 14:45
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alamak, if your expenses more than income and need to borrow to pay your expenses, how long can you borrow? If your income is zero and you cant pay your workers anymore whats next? If interest rate goes up and you cant pay them, what does the bank do? dont expect a free lunch from them. Look the directors knows if this business can go on or not, if can for how long can they withstand the downturn? if cannot, then is closing shop now better or wait for things to get worse than force to close shop. I am into businessman so Debt is a double edge sword, it can work wonders but it also can kill you immediately.
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sheerluck
Supreme |
01-Sep-2016 14:37
Yells: "Work for your money first then let your money work for you" |
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The main point on this is the huge disconnection between earning statement and cashflow statement.
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zandlery
Supreme |
01-Sep-2016 13:56
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if don't want to compare apple to orange......can compare vallianz to pacific radiance......only if they die first....then will be vallianz turn I guess.....they in deeper shit | ||||
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zandlery
Supreme |
01-Sep-2016 13:52
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if u google why ENRON die....u will get the answer........if u deem vallianz might be the same...fraudulent ....that apply to all listed company which can do the same thing behind the back.......
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zandlery
Supreme |
01-Sep-2016 13:49
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You sound as if the debt owe by vallianz is small amount.....bank can just let go easily........
They just said..."well..vallianz just only owe us 200mil(example)......not even close to Swiber 700mil......just forget it la.....let it die".....well.....I don't think so......btw.....Swiber scale is not consider big compare to international offshore company...... talking bout bailed out I think only sembcorp or keppel can qualified....
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sheerluck
Supreme |
01-Sep-2016 13:48
Yells: "Work for your money first then let your money work for you" |
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Back then ENRON was profittable. Why still die?
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doufei
Veteran |
01-Sep-2016 13:39
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Come on, Vallainz is still a profitable company, why will die leh?
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sheerluck
Supreme |
01-Sep-2016 13:29
Yells: "Work for your money first then let your money work for you" |
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Not what I meant. Bank will not let Swiber die so easily becos it will end up as communicable disease. The effect of this can kill. Bank can let Vallianz die becos it will end up only as mosquito bite. The effect of this one is only discomfort.
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zandlery
Supreme |
01-Sep-2016 13:23
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Yes. If communicable disease like Ezra have not been pronounce dead by the doctor which are in much worst condition.......mosquito bite company like vallianz although might have complications will not die before them......
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sheerluck
Supreme |
01-Sep-2016 13:04
Yells: "Work for your money first then let your money work for you" |
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The key word here is contagion. During GFC, some big banks are too big to fail so got baited out. If they failed is like communicable disease. Smaller one if failed are just mosquito bite. Swiber is communicable disease. Vallianz is mosquito bite.
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Wind22i
Supreme |
01-Sep-2016 12:32
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This company march proudly during the recent NDP..
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zandlery
Supreme |
01-Sep-2016 11:48
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There are mention of selling of assest to get cash from last result. The assest might be sale in discount but still worth quite an amount.
It quite common to have the idea of company declare bankrupt since the 1st example has been shown.......famn u Swiber...haha To me....there are still worst doing offshore company like Ezra n if they still have not thrown the towel....I'm still think vallianz declaring bankrupt will not come into picture..... The Q number vallianz got still behind some offshore companies......haha Company will try their best to stay afloat....unless really no cure....last stage cancer Oil market will eventually recover as existing well will eventually depleted......just don't know how long it will take.....hope before I die.....haha |
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investshare
Supreme |
01-Sep-2016 10:19
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Agree, the actual threat not from Swiber. On top of what you mentioned before, also can expect suppliers to withdraw credit, purchase must be paid in advance of COD. This will affect business.
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sheerluck
Supreme |
01-Sep-2016 10:15
Yells: "Work for your money first then let your money work for you" |
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The more immediate and real problem for Vallianz is that US$44mil note due in Nov and Vallianz has US$8mil cash left. Cashflow from ops in FY2014 is -US$44 and FY2015 is -US$2mil and H2 FY2016 is -US$24mil.
Vallianz, despite supposedly having steady steam of income from chartering, is not generating positive cashflow for past 3 years to cover capex and interest. So far has been relying on debt to sustain operations. So they needs financiers to provide life support.
Vallianz same pattern as Swiber. Now financiers saw how Swiber sabo them. Financier is either foolish or lanlan to contiune lifre supoort. So come Nov, together with Q3 resutls exc impact from Swiber conribution of revenue, which I expect a significant dropped in profit or even losses, Vallianz => Vanishes?
Lets see in 3 months time.
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RedEye1811
Master |
01-Sep-2016 09:25
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To me it a complex issue with lots of questions. For example, did the JLMs issue the request as a formality even though likely to be netted (hey we need to show we doing our job and checking to ensure the debts owed etc real, and receivables owed real). Did the BoD of Vallianz disclose the information given the new SGX drive for disclosure so even thought they (the BoD) feel things be settled nicely they want to show they trying to be responsive to stakeholders and everything above board? (If information on request came out in papers first it look bad so getting ahead of curve). These questions unlikely to have an answer but does make issue even more complex.
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moron101
Supreme |
01-Sep-2016 09:09
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Looks complicated. This type of court proceedings can take years to settle..
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investshare
Supreme |
01-Sep-2016 08:43
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FYI. no legal action can be commenced against it and creditors cannot take steps to enforce any security over the assets unless with the leave of the court.
The breathing space is created from the immediate moratorium on any legal action against the company once the JM application is made. This means that no resolution can be passed to wind up the company, no legal action can be commenced against it and creditors cannot take steps to enforce any security over the assets unless with the leave of the court. The court will grant the JM order if it believes that the company can be nursed back to financial health. For this, it must be shown that the company is or will be able to pay its debts and that there is a reasonable probability of rehabilitating the company or preserving a part of or all of its business. The interests of the creditors must also be considered to be better served than if winding up were resorted to.
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investshare
Supreme |
01-Sep-2016 08:38
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No lar. But I work with other listed company legal before.
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zandlery
Supreme |
31-Aug-2016 23:19
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haha.....you sound like u work with vallianz legal team or Swiber.....like I say...just let the card play out itself...........
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investshare
Supreme |
31-Aug-2016 23:07
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Of course Vallianz can refuse to pay and resort to legal. But this may concern other creditors, like shark smell blood. Imagine you are creditor of Vallianz, are you not worried now? Sure you want yours to be prioritized over others. Soon suppliers may refuse to deliver service without being paid.
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