| Latest Forum Topics / Swiber |
 Post Reply
|
|
Sasseur REIT Latest News
|
|||||
|
Macqueen
Master |
08-Sep-2016 08:17
|
||||
|
x 0
x 0 Alert Admin |
Same as Linc energy
|
||||
| Useful To Me Not Useful To Me | |||||
|
investshare
Supreme |
08-Sep-2016 08:16
|
||||
|
x 0
x 0 Alert Admin |
China Aviation oil ! After collapse, rescued, and now still strong. But this is truly exception as China government cannot afford to lose face then.
|
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
Observers
Elite |
08-Sep-2016 08:16
|
||||
|
x 0
x 0 Alert Admin |
As long as creditors cannot get 100% back, shareholders will probably get nothing in the end.
|
||||
| Useful To Me Not Useful To Me | |||||
|
WanSiTong
Supreme |
08-Sep-2016 08:15
|
||||
|
x 0
x 0 Alert Admin |
Swiber' s interim managers plan asset sales in revival proposal Swiber Holdings should be able to raise about US $ 284 million ($ 383 million) of working capital to sustain its operations, including through asset sales, according to a report submitted by the interim judicial managers of the beleaguered offshore oil and gas services group. Singapore-based Swiber could generate US $ 209.9 million from the sale of vessels and property, US $ 64 million from settlement and receivables from arbitration proceedings and US $ 10.1 million from insurance claims, according to the report, which was submitted to the Singapore high court earlier this month. The working capital could be raised within about 12 months, said the Sept 2 report, which was obtained by Bloomberg News. More cash may still be raised from the sale of non-core assets and receivables from " a significant debtor," it added, without naming the debtor. KPMG, appointed by the court as interim judicial managers last month, have indicated a " reasonable prospect" of saving the Singapore company from liquidation as about 24 unidentified investors have expressed interest in financing Swiber' s debt and projects. The company intends to restructure about US $ 143 million due to its trade suppliers and contractors to reverse its cash outflow, according to the report. Swiber roiled Singapore' s bond market when it defaulted on its local-currency notes last month, becoming the third entity to renege on payments since November 2015, after efforts to raise money from a London-based private equity firm collapsed. A liquidation outcome would leave unsecured creditors with recovery of as little as 2 cents on the dollar, the managers said in the report. Swiber named John F. Swinden as chief executive officer over the weekend to replace Yeo Chee Neng, who resigned on Sept 2, according to a filing with the Singapore stock exchange. Yeo will continue as an adviser and will work closely with the Swiber group and its interim judicial managers, according to the filing. |
||||
| Useful To Me Not Useful To Me | |||||
|
Qanghoo
Supreme |
08-Sep-2016 07:37
|
||||
|
x 0
x 0 Alert Admin |
If liquidate, shareholders almost certainly get nothing. For JM, if coy emerges successfully n trading suspension is lifted, shareholders still got a bit of hope to recover a small amt. Problem is, I don' t seem to recall any listed coy (correct me, if i' m wrong) successfully emerge from JM. Sinarmas land is the only one on my mind that has (after being rescued by the Sinarmas grp). Comparing this to Cap 11 in the US, Cap 11 seems to have been working better in resuscitating sick coys. |
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
granto
Master |
08-Sep-2016 07:34
|
||||
|
x 0
x 0 Alert Admin |
Is Marco Polo the next Swiber? |
||||
| Useful To Me Not Useful To Me | |||||
|
Khoolie
Member |
07-Sep-2016 22:49
|
||||
|
x 0
x 0 Alert Admin |
Wow. They should just liquidate entire Swiber to pay all debtors to be fair. The survival of many of us smaller companies are also important. Anyway oil and gas downturn now, who will want to buy Swiber' s assets. And why do Insurance company owe Swiber 10million? This is no certain amount that can be claimed, subjected to insurance companies verification and loss adjuster. The potential significant debtor from Swiber they mentioned probably is Vallianz which already clarified earlier this week that they can be netted off. Therefore only about 200 millions of the so claimed > 1 billion of asset can be sold. seems that KPMG are always overly optimistic on the numbers.
|
||||
| Useful To Me Not Useful To Me | |||||
|
Qanghoo
Supreme |
07-Sep-2016 22:25
|
||||
|
x 0
x 0 Alert Admin |
Think there a rpt in the local press this morning that the IJM is proposing a substantial haircut for creditors. So appears that others (apart from DBS) will get something, but forgiving a considerable amt of the amts they are owed.
|
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
Wind22i
Supreme |
07-Sep-2016 20:30
|
||||
|
x 0
x 0 Alert Admin |
Will they sell vallianz before the rights..
After right vallianz may become close to zero..now already low price 0.02 |
||||
| Useful To Me Not Useful To Me | |||||
|
Khoolie
Member |
07-Sep-2016 18:28
|
||||
|
x 0
x 0 Alert Admin |
The rest dont expect to recover anything liao. Only Valllianz is worth something. Everything go to DBS. They no longer have valuable assets. All other subsidiaries are worthless. Vessels and Barges devalue very fast yearly, and not owned wholly by Swiber.
|
||||
| Useful To Me Not Useful To Me | |||||
|
granto
Master |
07-Sep-2016 13:35
|
||||
|
x 0
x 0 Alert Admin |
Swiber pledges its 25% Vallianz stake to DBS: http://splash247.com/swiber-pledges-25-vallianz-stake-dbs/ |
||||
| Useful To Me Not Useful To Me | |||||
|
jeremyow
Master |
07-Sep-2016 13:24
Yells: "Passionate business investor" |
||||
|
x 0
x 0 Alert Admin |
Agree. The more due diligence one does on a company the better it is to understand it before one is comfortable to invest in it. On a side note, it is interesting how long we sometimes take to decide to research and then buy an item off the shelf of an equivalent value (e.g. a computer) and yet could spend just barely an hour to decide to buy shares of a company we are not totally acquainted with using our hard earned money. =)
|
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
dragonboy76
Master |
07-Sep-2016 09:44
|
||||
|
x 0
x 0 Alert Admin |
when they beat us and win the projects, we were swearing at them for winning the project, but we are also happy that they bid so low to win the projects. we are actually happy to see them fall due to their aggressive bidding method. as the saying goes: you win the battle, but lose the war |
||||
| Useful To Me Not Useful To Me | |||||
|
Khoolie
Member |
07-Sep-2016 09:41
|
||||
|
x 0
x 0 Alert Admin |
One case from 2014: http://www.rambuenergy.com/2014/10/saipem-indonesia-says-it-has-no-business-relation-president-yudhoyonos-son/ In February this year, Gerhard Maarten Rumeser, deputy for business control of SKK Migas, revealed in a court hearing that President Director of PT Rajawali Swiber Cakrawala Deni Karmaina, a friend of Edhie Baskoro Yudhoyono, complained to former SKK Migas chairman Rudi Rubiandini, because SKKMigas approved PT Timas as the winner of the Gendalo-Gehem subsea construction of the multi-billion IDD Chevron project.
|
||||
| Useful To Me Not Useful To Me | |||||
|
Khoolie
Member |
07-Sep-2016 09:33
|
||||
|
x 0
x 0 Alert Admin |
Agree. Swiber' s competitors do not like the way they undercut the projects, by 30-50%. They are usually marginally profittable and spoiling the market. Oil and gas no longer a good salary payer. And due to Swiber' s inexperience and unethical practices, the projects will usually lose money. Getting too many of these types of projects stretch their cash flow. John Swinden cant save Swiber. Why credit him for Indonesia projects. They were gotten by at least nepotism if not corruption. Noticed they have not gotten any projects there since Indonesia changed president. |
||||
| Useful To Me Not Useful To Me | |||||
|
dragonboy76
Master |
07-Sep-2016 07:52
|
||||
|
x 0
x 0 Alert Admin |
I suggest u all move on and try to recover your losses on other counter. Next time before you guys invest, pls look at their past financial reports and see their profit, cash flow, debt etc. Getting projects doesn't mean making $$ | ||||
| Useful To Me Not Useful To Me | |||||
|
dragonboy76
Master |
07-Sep-2016 07:40
|
||||
|
x 0
x 0 Alert Admin |
Guys, kpmg and other auditing, tax service companies are actually are BS company. They r good for nothing. Only know how to see paper. They have zero idea and experience in many industry. My company also one of the victim. Many o&g epc companies move out together and shift to Malaysia Bcos of all these BS companies giving advice to management on cost cutting measure. But they never think of other factors such as operational efficiency and business environment. They use the similar proposal to propose to o&g companies in singapore. | ||||
| Useful To Me Not Useful To Me | |||||
|
enjoylife77
Veteran |
06-Sep-2016 21:31
|
||||
|
x 0
x 0 Alert Admin |
History always repeat itself and yet retail investor will never learn to avoid toxic counter. All the complaint and curse will get you no way. A fool and his money are soon parted. Again. |
||||
| Useful To Me Not Useful To Me | |||||
|
Khoolie
Member |
06-Sep-2016 16:31
|
||||
|
x 0
x 0 Alert Admin |
Do you think the Court will grant official Judicial Management in Oct? Hearing is in Early oct. We want certainty. Under JM only dragging things.
|
||||
| Useful To Me Not Useful To Me | |||||
|
investshare
Supreme |
06-Sep-2016 12:01
|
||||
|
x 0
x 0 Alert Admin |
Most likely this will be outcome as bond and loan have higher seniority than equity (shareholders). If the company can survive, that woule likely come with deep dilution as well.
|
||||
| Useful To Me Not Useful To Me | |||||