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EZRA HOLDINGS - RED HOT NEWS
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pnuklis
Master |
26-Jan-2017 16:54
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I thought crisis ended when they resolved the bond issues when they agreed to push the dates further by giving few cents and increased interest rate to holders. |
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alexchew
Master |
26-Jan-2017 16:39
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everyone is speculating here, but, the financials are real. The share price seems to be well supported at 0.048. If it suddenly drops below, i will probably start being nervous if i were invested. |
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happyharvest
Elite |
26-Jan-2017 16:31
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That is for personal use not for the company
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pnuklis
Master |
26-Jan-2017 16:25
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is the situation so delicate that they have no cash to run the company? I thought the main promoters Lee family have deep pockets. Property in Sentosa cove, in Thailand etc. |
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TeoMark
Veteran |
26-Jan-2017 16:23
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Wow. I was just speculating. You actually heard it. Nice......
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pool100
Veteran |
26-Jan-2017 16:06
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I heard similar too.
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TeoMark
Veteran |
25-Jan-2017 22:54
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The next announcement will be for filing of JM.
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joebloggs
Senior |
25-Jan-2017 19:57
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1. Who is going to risk more money with this management? 2. As above? 3. What Company will want to merge with them with that level of debt and lack of assets? 4. Not sure Time is runnning out and they still have Perisai to sort........
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Wind22i
Supreme |
25-Jan-2017 19:35
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To survive it need to either explore :
1) rights issue 2) convertable bond 3) merger with another company with better cash flow 4) reschedule their existing debts or bonds Before too late.. Maybe the mgmt still busy karaoke with china dolls..so no time |
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alexchew
Master |
25-Jan-2017 17:11
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they have nothing to announce, so, they just be quiet. They should update more on the demand letters etc if any. Else, similar to swiber, all these letters will surface one by one after announcement of suspension.
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TeoMark
Veteran |
25-Jan-2017 16:41
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swissco has a similar change of events. so.......
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joebloggs
Senior |
25-Jan-2017 16:13
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Wonder why so slow publishing financials and calling Annual Meeting. The Company been so quiet, worrying time for shareholders.
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alexchew
Master |
25-Jan-2017 15:59
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they can keep milking the cow till it runs dry.. Willingly parties to pump in money for them.
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happyharvest
Elite |
25-Jan-2017 15:53
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seriously the management should stop taking salary or having a big pay cut for a while to save this sinking ship. They have sucked enough during the good old days. It would reflect how serious they want to save this company or simply a gold digger.
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kerier
Veteran |
25-Jan-2017 15:44
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Now its up to its banks to decide its fate. |
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joebloggs
Senior |
25-Jan-2017 14:26
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If a Company doesn' t have the funds to pay their debts when they fall due i.e. if all creditors were to call in their monies owing, would that Company be trading insolvent?
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Lucky03
Elite |
25-Jan-2017 09:19
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Upstream players has the best of both world during this trabnsition period where oil price is stabilising and has since doubled from lowest of US$26 to current US$52 while cost of extraction continue to remain depressed as the market will take some time to absorb the excess capacity.
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pnuklis
Master |
25-Jan-2017 09:17
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Most of the suppliers want pre-payment from Ezra to supply spares. The cash flow is tight and are having problems to pay salaries also. Most yards dont want Ezra vessels to dock. |
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Lucky03
Elite |
25-Jan-2017 09:15
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Below article was published 29 Dec 2016 and stated a timeline of 2 weeks so around the corner now. Just nice that KrishEnergy has secured additional financing of $140m via the preferential offerings with issuance of Notes to push ahead their game plan to step up production as the oil price recovers. Just up more then 2% on Friday. KrisEnergy had S$130 million 6.25 per cent notes that would have come due in 2017 and a further S$200 million 5.75 per cent notes due in 2018. Now, it only needs to return bond holders their principal in 2022 and 2023 respectively, after more than 75 per cent of voting bond holders gave KrisEnergy the green light at meetings held early Friday Dec 9 2016, the company said in a statement to the Singapore Exchange. http://www.khmertimeskh.com/news/33718/krisenergy-to-start-drilling-for-oil/ KHMER TIMES/MAY KUNMAKARA THURSDAY, 29 DECEMBER 2016 1727 VIEWS KrisEnergy to Start Drilling For Oil Singapore-listed oil and gas firm KrisEnergy is expected to begin extraction from the Block A offshore oil field in the next two weeks as the government is close to finalizing the agreement, a ministry official said. Ministry of Mines and Energy secretary of state Meng Saktheara said the ministry had already approved most of the agreement, with only small portions remaining for the Ministry of Economy and Finance to look into. ?My ministry has already cleared, in principle, every issue,? he told Khmer Times. ?Just small things remain for the Ministry of Economy and Finance and the company?s technical team to meet and discuss the investment risks. Then everything will be done. ?It?s a good time to start working on their project while the global oil price is recovering slightly,? he added before predicting that extraction work is likely to begin in a fortnight. He also said that the draft law on oil and gas extraction is due to be finalized soon and would hopefully be approved by the government in early 2017. KrisEnergy?s vice-president of relations and corporate communications Tanya Pang echoed Mr. Saktheara?s statement, noting that the company was close to completing the agreement pending the finalization on several details. ?Finalization of all agreements relating to the Block A oil development requires inputs from both the Ministry of Mines and Energy and Ministry of Economy and Finance,? she told Khmer Times. ?We have provided our input and we are waiting on both ministries to respond. Major issues have been resolved and only the drafting details are being fine-tuned,? she added. Ms. Pang said that both ministries have been ?proactive and helpful,? adding that the process has been ?going well? thus far. She added, however, that KrisEnergy remained vigilant to the price fluctuations of the oil and gas industry regardless of when it will begin extraction activity. ?As we have seen over the last 24 months, oil prices may go through periods of extreme volatility so the overall commerciality of a project must be taken into consideration rather than today?s market. ?Higher oil prices may also bring higher costs for materials, services and equipment, which must all be taken into consideration,? she said. Even with the industry?s plunge early this year and its sluggish recovery, she noted that financing was not a concern for the company. ?Despite the tough prevailing financial and industry conditions, we have received support from our key shareholders and bank to proceed with this project. We do not foresee financing to be an issue,? she said. KrisEnergy has an overwhelming 95 percent stake in the Block A offshore energy concession after it announced in August that it was in negotiations to buy out Mitsui Oil Exploration?s 28.5 percent stake and GS Energy Corporation?s 14.25 percent stake, after the companies approached KrisEnergy to seek a sale of their shareholdings. The sale was completed on October 7, with the purchases adding to the 52.25 percent stake they owned since buying Chevron?s in 2014. The Cambodia National Petroleum Authority still has a five percent stake in the 4,709-square-kilometer concession located in Cambodian waters within the Gulf of Thailand. Officials from the Ministry of Economy and Finance could not be reached for a comment as of press time.
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Lucky03
Elite |
25-Jan-2017 09:12
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Agreed. I picked KrisEnergy. It just completed its debt restructuing where its current bond holders agree to delay repayment to 2022 and 2023 while it raised another S140m which is mostly subscribed by undertaking from its largest shareholder - Keppel. While Keppel has gotten the waiver to make a mandatory offer for all the shares due to its large shareholding after the exercise, there is also good reason for it to take KrisEnergy private. It has indicated it will like to see more synergy betweeen KrisEnergy and the other unit of Keppel. KrisEnergy should be receiving official approval from Cambodia government anytime to begin oil extraction at the well that they bought over to have majiority control so as to speed up the process to generate positive cashflow.
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