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guards80
Supreme |
09-Aug-2019 21:43
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Ezion posts US$364m loss Yinson still in talks with lendersROUBLED offshore and marine group Ezion Holdings posted losses for the second quarter on Friday, while its potential white knight, Malaysia-listed Yinson Holdings, continues to negotiate with lenders before extending the lifeline. In its results announcement, Ezion said it has been informed that Yinson Eden Pte Ltd, an indirect wholly owned subsidiary of Yinson Holdings, is still in negotiations with Ezion' s designated lenders. Under a conditional debt conversion agreement, Yinson was to acquire the rights and benefits of Ezion' s US$916 million debt. On its side, Yinson has also said that the deal is currently pending banks' approvals, with due diligence ongoing, according to a New Straits Times report in July. Yinson' s group CEO did not disclose any timeline for the acquisition. In its outlook, Ezion warned: " Should the prolonged delay in the completion of the Yinson Subscription and unavailability of funds from the lenders continue, the group' s deployment plan for its assets may be further hindered and the group may incur further losses going forward." This was one of the factors behind Ezion' s post-tax loss of US$363.9 million for the second quarter ended June 30, versus a US$96.1 million profit in the same period a year ago, in line with its profit guidance earlier. Loss per share was 9.76 US cents, a reversal from earnings per share of 3.11 cents last year. The group was affected by an impairment loss, which widened to US$303.6 million versus US$250,000 in the previous year. The losses comprise mainly impairment losses on loans to associates, loans to joint ventures, plant and equipment, and trade and other receivables. The outlook for the offshore marine industry remains " challenging and competitive in view of the oversupply of offshore logistics vessels and jack-up rigs in the industry" , Ezion also noted. For 1H, Ezion recorded a post-tax loss of US$376.8 million, versus a profit of US$55.7 million for the same period a year ago. Impairment losses stood at US$303.8 million, in contrast to a loss reversal of US$163,000 in the previous year. Loss per share for the half-year was 10.12 US cents, versus 2.19 cents a year ago. Ezion said: " In view of the additional problems and material losses arising from the unexpected prolonged negotiations between the designated lenders and Yinson, the group is exploring with Yinson on actions and solutions that will best serve the interests of all stakeholders." http://www.businesstimes.com.sg/companies-markets/ezion-posts-us364m-loss-yinson-still-in-talks-with-lenders |
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guards80
Supreme |
09-Aug-2019 21:41
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Ezion: Financial Statements and Related Announcement :: Second Quarter and/ or Half Yearly Resultshttp://repository.shareinvestor.com/rpt_view.pl/id/804685.1/type/sgxnet/original_filename/1 |
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Edward2
Senior |
08-Aug-2019 10:13
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Ezion to join Ezra Noble and swiber soon | ||||
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SAVIORFOREVER
Supreme |
08-Aug-2019 09:38
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Think you didn't see my previous thread.
I'm already prepared to lose all in Ezion but there must someone to F the management for their bad job. Trade with awareness
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kt3152
Supreme |
08-Aug-2019 09:09
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They may be unhappy at that moment but will move on to other stocks. That is contra player. Just write off this stock lah..Any value later will be a bonus. May be you will be happier..
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SAVIORFOREVER
Supreme |
08-Aug-2019 08:51
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Contra buyers who had to hold this junk when it suddenly went into suspension, do you think they're happy after all the disappointments happening during suspension period?
Iif there's no deal, Ezion should enter into voluntary suspension. That's when all the miseries will begin. Trade with awareness and no return
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sheerluck
Supreme |
06-Aug-2019 08:58
Yells: "Work for your money first then let your money work for you" |
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Don't know if it is considered lucky Ezion is suspended and will be shielded from today carnage. | ||||
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SAVIORFOREVER
Supreme |
06-Aug-2019 08:50
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👍
Many with 5 figures inside tbe coffin. Trade with no return
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Shifu8888
Supreme |
06-Aug-2019 07:58
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Appear to be alive but Dead and buried. No chance for resurrection. | ||||
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SAVIORFOREVER
Supreme |
06-Aug-2019 07:57
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When is your news coming out? I'm waiting to unlock my trapped money.
Maybe your news is bad? Don't think the secured lenders will give it to Yinson. Trade with no return and no expectations
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SAVIORFOREVER
Supreme |
05-Aug-2019 07:44
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Guess again.
Trade with no return and no expectations
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TraderBen
Supreme |
04-Aug-2019 23:41
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Significant losses.. might be in the >100m bracket | ||||
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SAVIORFOREVER
Supreme |
04-Aug-2019 15:21
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Impairment of assets is like forever but what about the management? They didn't really get what they deserve for bringing the company to this critical VOD situation
Really regret not selling everything before suspension. Those contra players who had to take the shares with borrowed money should be feeling very miserable. Is there a miracle? God is willing? Trade with no return and no miracles
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Stocky901
Supreme |
03-Aug-2019 14:42
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This stock already permanently brain dead. Support Starhub better.. hope starhub will not go below $1.40.
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Edward2
Senior |
03-Aug-2019 14:16
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Can pray n pray open maybe 1 cent or less that why suspende | ||||
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Starship
Supreme |
03-Aug-2019 12:18
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SAVIORFOREVER
Supreme |
03-Aug-2019 12:15
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News abstract
"DEBT-STRICKEN offshore and marine group Ezion Holdings will likely post losses in the second quarter and half-year to June 30, the board warned on Thursday. Ezion has assessed the impairments of its assets and, while the value has not been determined, "the group is expected to record a significant net loss", the board said." Trade with no return |
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SAVIORFOREVER
Supreme |
02-Aug-2019 16:28
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If there is no rescue deal then it may take forever until close shop. Banks will confiscate everything and I will have nothing.
Trade with no return
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Starship
Supreme |
02-Aug-2019 15:58
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Top Executives and Directors in companies also get business entertainment expenses in Michelin Star restaurants , pop $500 Champagne, 6-Star Hotels and First Class air tickets on World' s Best Airline Singapore Airlines.................  
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gopguppy
Veteran |
02-Aug-2019 15:57
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How long can Ezion shares trading remain suspended? Anyone know? | ||||
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