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Marco Polo - IPO Post Reply Rate topic
pnuklis Master	16-Nov-2017 10:21        pnuklis About Contact  Quote this Post!
x 0   x 0  Alert Admin	This means in layman terms for every S$250,000.- bond you get back 32K in cash and 32K in shares which in total amounts to 30% recovery. This is better than others offer. But still all bond holders feel cheated as CEO going around in his Poshe and bond holders are left high and dry!
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MichaelSchenker Master	16-Nov-2017 09:29        MichaelSchenker About Contact  Quote this Post!
x 0   x 0  Alert Admin	Great to have differing views, and this is what the forum is for. Anyway, true that the option of using Rights issue will only result in (possibly) millions spent on agent/management fees. Eventually the shares will still be diluted. Bonds need confidence from the public. Surely management had already explored the options available. And if the deal to the &ldquo lenders/investors&rdquo is not sweet enough, who would want to bail out MPM? We all knew it&rsquo s difficult to borrow from the banks nowadays, those in shipping/O& G industry would be worse. If you are in IT, it definitely much easier to get funding. I still believe it&rsquo s a positive move to open the door rather than to stay suspended indefinitely.
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sheerluck Supreme	16-Nov-2017 09:07        sheerluck About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Work for your money first then let your money work for you"
x 0   x 0  Alert Admin	If you look deeper, you can tell the mgmt is scheming. Basically they are ripping off existing holders be it equity, note or debt. If they raise thru say right do they need to fork out their own money? The answer is yes. Now do they have to? The answer is no. If the coy toh, can they still get their fat pay? The answer is no. Now can they still get paid? The answer is yes. They impaired 70%-80% of their vessels while most impaired 20%-30% only. Seeing the company is in negative equity and is likely to toh, can the existing holder resist. Can take a little back now is better than nothing. The company managed to created this outcome thru "clever" financial engineering. With year end audit, auditor might think they impaired too much and reversed some. Suddenly those $60 mil holder got something worth more than what they bought out initially which they knew and existing holders simple got back much less than what they actually be getting. Lastly don't tell me owner lose more because of whatever. At this stage, they got nothing. Now they can still get fat pay in the name of turning over the company. Whatever they are successfully or not is important to holder but makes little to the mgmt who get fat pay in any case. dragonboy76      ( Date: 16-Nov-2017 08:39) Posted: my main query is why not raise cash from market through fund raising? And there is a main difference: lenders get the shares at a low price. long term investor holding shares at much higher price. they would not be willing to sell at a loss since there is new hope that MPM may survive and turnaround.  with just some push on the price, lenders can easily offload their shares to market who in turn thinks the shares will continue to go up (and also comes with free warrants). winners are still the lenders. MichaelSchenker      ( Date: 16-Nov-2017 08:24) Posted: Yes, it is a possibility they will cash out. But remember, so does the public. It goes both ways. Imagine if trading resumes, long-existing holders chose to make an exit, pulling down the price to below 0.028 As for the low share price, because it has already been diluted due to the issuance of more shares. I think this is a better arrangement than to let the counter be suspended indefinitely.  Existing shareholders may think their shares is worth a lot, regardless how much they paid. So, best is to open the door again, let market decides what it is worth.
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dragonboy76 Master	16-Nov-2017 08:39        dragonboy76 About Contact  Quote this Post!
x 0   x 0  Alert Admin	my main query is why not raise cash from market through fund raising? And there is a main difference: lenders get the shares at a low price. long term investor holding shares at much higher price. they would not be willing to sell at a loss since there is new hope that MPM may survive and turnaround.  with just some push on the price, lenders can easily offload their shares to market who in turn thinks the shares will continue to go up (and also comes with free warrants). winners are still the lenders. MichaelSchenker      ( Date: 16-Nov-2017 08:24) Posted: Yes, it is a possibility they will cash out. But remember, so does the public. It goes both ways. Imagine if trading resumes, long-existing holders chose to make an exit, pulling down the price to below 0.028 As for the low share price, because it has already been diluted due to the issuance of more shares. I think this is a better arrangement than to let the counter be suspended indefinitely.  Existing shareholders may think their shares is worth a lot, regardless how much they paid. So, best is to open the door again, let market decides what it is worth.  dragonboy76      ( Date: 16-Nov-2017 07:24) Posted: Curious why they choose to borrow 60 mil in exchange for share issuance to lender at such cheap price 0.028 rather than find raising from open market? Those lenders can cash out their allocated shares in open market
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MichaelSchenker Master	16-Nov-2017 08:24        MichaelSchenker About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yes, it is a possibility they will cash out. But remember, so does the public. It goes both ways. Imagine if trading resumes, long-existing holders chose to make an exit, pulling down the price to below 0.028 As for the low share price, because it has already been diluted due to the issuance of more shares. I think this is a better arrangement than to let the counter be suspended indefinitely.  Existing shareholders may think their shares is worth a lot, regardless how much they paid. So, best is to open the door again, let market decides what it is worth.  dragonboy76      ( Date: 16-Nov-2017 07:24) Posted: Curious why they choose to borrow 60 mil in exchange for share issuance to lender at such cheap price 0.028 rather than find raising from open market? Those lenders can cash out their allocated shares in open market
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dragonboy76 Master	16-Nov-2017 07:24        dragonboy76 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Curious why they choose to borrow 60 mil in exchange for share issuance to lender at such cheap price 0.028 rather than find raising from open market? Those lenders can cash out their allocated shares in open market
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kangaroo11 Veteran	15-Nov-2017 18:07        kangaroo11 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	15-11-2017 17:55:24 UPDATE: Marco Polo gets bondholder nod in restructuring plans SINGAPORE, Nov 15 (IFR) - Marco Polo today obtained majority consent from holders of its S$50m (US$36.8m) 5.75% bonds due 2016 to waive certain covenants. The nod follows an agreement between the beleaguered marine logistics company and a group of investors for a combined S$60m equity injection into the company. Bondholders had been asked to waive non-payment of all interest payable, waive occurrence of any event or potential event of default, and discharge and release a shipyard collateral.  Marco Polo had also requested to insert an option to allow it to redeem all of the notes partially in cash at the amount of S$35,868 and partially in the form of shares at an issue price of S$0.035 per share under the restructuring plan.  Investors holding S$39.25m or 78.5% of the notes had submitted voting instructions or were present at the bondholder meeting today. Out of the total 157 votes that were cast, 141 votes or 89.8% of votes cast were in favour of the proposals.  In an announcement last week, Marco Polo had said the group of investors, which includes co-founders of companies such as Super Group and Soilbuild, would subscribe to 2.142bn new shares at S$0.028 each, subject to the restructuring exercise proceeding, as well as other conditions. Proceeds of up to S$15m will be used as working capital on completion of the debt restructuring and at least S$45m will go towards cash payments required under the scheme. Marco Polo also said it planned to issue free warrants to existing shareholders at a rate of 8 warrants for every 10 shares held. The warrants will be exercisable at S$0.035 per share from six months after their listing and will be valid for five years. The issue date is yet to be determined. (Reporting by Kit Yin Boey Editing by Vincent Baby) (([email protected]
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sheerluck Supreme	15-Nov-2017 09:59        sheerluck About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Work for your money first then let your money work for you"
x 0   x 0  Alert Admin	MPM very cheapo.  Purposely impaired their asset until like no value to force lenders/bondholders to surrender.  Most impaired only 20%-30% of their vessels except for MPM and NamCheong who impaired 70%-80%. Those who want lenders to grace them time will impair less to show they are still value in the coy. Those who want lenders to take haircut will impair more to show there are little value in the coy. But most likely the situation is reverse.  Those who impaired less may have less value in the coy while those who impaired more may have more value in the coy.  These are just scheming financial engineering to force lenders to go the way the coy wants. Lastly, I wonder what asset are those potential investors really after to throw money into this coy. pnuklis      ( Date: 15-Nov-2017 09:34) Posted: Today and tomorrow are the D days for MPO. Voting by the bond holders and banks. Their fate will be known to morrow. If this goes through then benchmark will be set at 70% haircut by the lenders.
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pnuklis Master	15-Nov-2017 09:34        pnuklis About Contact  Quote this Post!
x 0   x 0  Alert Admin	Today and tomorrow are the D days for MPO. Voting by the bond holders and banks. Their fate will be known to morrow. If this goes through then benchmark will be set at 70% haircut by the lenders.
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kangaroo11 Veteran	11-Nov-2017 14:18        kangaroo11 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	We' ll leave it to the ultra rich = presumbly smart people to decide.... jackson5      ( Date: 11-Nov-2017 13:02) Posted: 60m to save this company ? Even 120m also has problem .
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jackson5 Master	11-Nov-2017 13:02        jackson5 About Contact  Quote this Post!
x 0   x 0  Alert Admin	60m to save this company ? Even 120m also has problem .
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jackson5 Master	11-Nov-2017 12:57        jackson5 About Contact  Quote this Post!
x 0   x 0  Alert Admin	60m to save this company ? Even 120m also has problem .
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kangaroo11 Veteran	11-Nov-2017 12:07        kangaroo11 About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Risk vs reward. I used to play safer developer and reit shares, 3-6% returns yearly, and when it corrects, drop 20-40% which wipes out all your dividend income. Its probably good for long term recurring income but the returns are pathetic. I started playing o&m shares this yr and i've already doubled my capital. $60m is alot of money to us, but is probably only spare cash for the ultra rich and what they are looking is probably turning this 60m to 300m 5yrs down the road. Fortune favours the bold and those with foresight, mass just like to follow the crowd. dvdtsk      ( Date: 09-Nov-2017 15:20) Posted: 60 MILLIONS WILL SOONER WASH AWAY!!!  WASTE TIME TO RESCUE O& G RELATED CO.. LOOK INTO OTHER SECTORS, REITS AND DEVELOPERS...LA! NextEvolution      ( Date: 09-Nov-2017 08:40) Posted: Doing National Service or saving the tender hands of Vivian Hsu....
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Starship Supreme	11-Nov-2017 10:16        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	This 2014 news is even more amazing: Written by  Sim Kih Published: 04 July 2014 https://www.nextinsight.net/index.php/story-archive-mainmenu-60/924-2014/8700-marco-polo-sean-lee-weds-celebrity-actress-model-vivian-hsu " As his personal life turned fantastic, coincidentally, his Singapore-listed business -- which was founded by his father, Lee Wan Tang, who is the company' s executive chairman -- got rave reviews.  In a report issued in May, OSK-DMG analyst Lee Yue Jer said  Marco Polo Marine  is his " top alpha pick" .  (See:  REX -- this is a very busy year MARCO POLO is new alpha pick) The analyst, who has a ' Buy' call and a target price of 65 cents on the stock (which recently traded at 35.5 cents), cited visible catalysts from a potential rig charter contract. Incidentally, the analyst is also getting married, this month."
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dvdtsk Senior	09-Nov-2017 15:20        dvdtsk About Contact  Quote this Post!
x 0   x 0  Alert Admin	60 MILLIONS WILL SOONER WASH AWAY!!!  WASTE TIME TO RESCUE O& G RELATED CO.. LOOK INTO OTHER SECTORS, REITS AND DEVELOPERS...LA! NextEvolution      ( Date: 09-Nov-2017 08:40) Posted: Doing National Service or saving the tender hands of Vivian Hsu.... ? granto      ( Date: 09-Nov-2017 06:20) Posted: Nine local names rally around embattled Marco Polo Marine http://splash247.com/nine-local-names-rally-around-embattled-marco-polo-marine/
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laksaman57 Supreme	09-Nov-2017 15:00        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	https://www.theedgesingapore.com/marco-polo-marine-proposes-restructuring-scheme
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NextEvolution Elite	09-Nov-2017 08:40        NextEvolution About Contact  Quote this Post!
x 0   x 0  Alert Admin	Doing National Service or saving the tender hands of Vivian Hsu.... ? granto      ( Date: 09-Nov-2017 06:20) Posted: Nine local names rally around embattled Marco Polo Marine http://splash247.com/nine-local-names-rally-around-embattled-marco-polo-marine/
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MichaelSchenker Master	09-Nov-2017 08:22        MichaelSchenker About Contact  Quote this Post!
x 0   x 0  Alert Admin	I have not really read the details yet, I understand the shares will be diluted. And if suspension is lifted, it may be worth to try. Those who are still holding, may consider to average out, if not then take whatever remains. Quite certain O& G is not dead yet. Many competitors already die off, those who survive should get a bigger piece of the pie and also become smarter thru&rsquo past lessons. Good Luck to holders, will be on my watchlist.
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machidrain Veteran	09-Nov-2017 08:07        machidrain About Contact  Quote this Post!
x 0   x 0  Alert Admin	this one really good connections.
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granto Master	09-Nov-2017 06:20        granto About Contact  Quote this Post!
x 0   x 0  Alert Admin	Nine local names rally around embattled Marco Polo Marine http://splash247.com/nine-local-names-rally-around-embattled-marco-polo-marine/
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