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VibroPower
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Laggard
Senior |
02-Nov-2023 22:59
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Can Interra convert C bond to share during the course of 3 years, if yes nothing can expect from this counter. It is so cheap to buy into the company when last placement was 13.2 cents. Keep diluting existing shareholder holding. Another point is how can they access a land parcel to build Solar Farm that belong to a company which they are not the major shareholder. A lot of time they never explain clearly. |
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Joelton
Supreme |
02-Nov-2023 11:07
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VibroPower and Interra Resources to form solar farm venture
Interra Resources and VibroPower Corp have formed a joint venture to build a solar farm in Sabah, Malaysia for $3 million. As part of this deal, Interra Resources will subscribe for a $1.5 million convertible bond to be issued by VibroPower.
The bond, which is for a three-year term, carries an interest rate of 8.5%.
If the bond is to be converted into shares, the conversion shares will be issued at 90% of the weighted average trading price of VibroPower shares in the last preceeding 30 market days.
Proceeds from the solar farm will be shared equally between the two listed companies.
Benedict Chen, VibroPower' s executive director and CEO is providing a personal guarantee for the convertible bond agreement.
Interra Resources, whose main business now is to produce crude oil, is keen to diversify into renewable energy.
The deal with VibroPower allows it to do so at " minimum risk" while providing " a steady return" on its investment.
" The solar farm sector is an important part of the company&rsquo s efforts to move in the direction of clean and renewable energy," says Interra Resources.
Assuming the conversion price is pegged to VibroPower' s last traded price of 3.1 cents, Interra Resources will own up to 15% of the former.
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Immotion
Member |
02-Nov-2023 05:37
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I see this not a good thing. Why need to ? Only reason is if they have no money to invest into their business.
https://links.sgx.com/1.0.0/corporate-announcements/BLG29L9CBYJE3YK4/776730_AnnouncementOnJointVentureAgreementandConvertibleBondAgreement.pdf |
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Immotion
Member |
03-Jul-2023 23:05
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P/L showing 6 months and full year losses of S$7 Mil ! Can someone kind enoiugh to advise how can minority shareholder get protected with such company management performance? 2 years accumulated losses is S$10 Mil and mainly due to impairment or special provision.... Financial Statements and Related Announcement::Full Yearly Results (sgx.com) |
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Laggard
Senior |
26-Jun-2023 16:59
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Profit Guidance!!! @Immotion, @Slowturtle, @SpinAround, @?? This stock can only announce bad news, last 24 months what they shared are all bad outcome when other Co can use the situation to the best...... another writing down on their NAV for the losses in last FY. Financial Statements and Related Announcement::Profit Guidance (sgx.com)
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SpinAround
Member |
03-May-2023 21:53
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  Bros you OK boh..... You ting S Chips reputation mean Ah Tiong ? Cannot Singapore Coy meh. Read more about VP and think deep deep..... VP have many patterns, many faces. Why cannot declare records lost, cannot open SAP syetem.. SAP leh not Ah Cat or Ah Dog company. This only show VP think shareholders are stupid & very Kwai, like Ah Tiong thinnk SGX and Singaporean are Stupid, cannot do anything.
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Immotion
Member |
02-May-2023 18:07
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Vey hard to believe this is happening to Singapore company. One month before result release, system cannot function. I heard such reason given by S Share but a true blue SG company......... ?? Waiver::EXTENSION OF TIME TO RELEASE FINANCIAL RESULTS & TO CONVENE AGM FOR FYE 31 MARCH 2023 (sgx.com) |
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Laggard
Senior |
15-Feb-2023 12:34
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Speaking on the key management use their track record reported in their annual report. In a short span of 3 years, 2 years made big losses due to debt collection, acculmated losses over 3 years is 7 Mil. Take it further to 7 years, accumulated loss made is 12.4 Mil. I wonder why this can happen so frequently and sharehoiders allow them to continue such lousy performance. The Book value dropped so much due to accumulated losses made over the years. Simple business control debt collection! What is their core business? The world is phasing out fossil fuel the industry is changing fast, supplying diesel Genset is a sunset industry. Do they have capacity to respond and make a busines transition? The may have idea but execution is slow and very slow, simply said no capacity, vision or will to do it (?). Unless the can get their act together soon to transit into new business it is better off for minority shareholders to ask them to delist the compnay and stop the bleeding. Having said that the major shareholders is in total control, there is no chance for minor shareholders. |
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Slowturtle
Senior |
07-Feb-2023 14:17
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Book value is almost 20 cents but last traded at 4 cents. ROA and ROI all in the negatives. What is management doing to reverse such miserable results? No proactive plans to do the core biz? | ||||
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Slowturtle
Senior |
07-Feb-2023 14:11
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This company supplying generators?Should have very good businesses selling to NGOs and governments since there are so many major world disasters happening now. Why so laggard and keeps making losses? Key management in hibernation all these while? |
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SpinAround
Member |
02-Feb-2023 13:40
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Red, Red, Red, Red but not Red packet in CNY. Kenna hatam till face Red Red, blood all over. 2 days liao kenna selling today hit 3.9 cents. Sibai Jilat leh. If close 3.9 then tis one go holland liao. I think must be money cannot get back so kenna lor.
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Immotion
Member |
16-Jan-2023 02:10
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Another bad news. I classfied. Will Vibropower management bring something positive or something to cheer (declare divindend) to shareholders? They should be awared behind them. minority shareholders support them all this whiel but suffered huge financial losses 1) they making losses annually 2) super depressed and unjustified trading price of this stock What are they going to look into to address this issue before ort by the Annual shareholder meeting in July. |
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Laggard
Senior |
11-Jan-2023 23:19
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Taking supplier to court to recover 1+ Mil .... This year result is probably another gone case, another loss making year as the court case cannot be concluded so soon! Additional 1 Mil cost to be provided in the operation with recovery from supplier is not certain. Otherwise why need to go court case? How can this be? Keep incurring losses and wipe out the capitalization. Keep having provision or write off, bad debt, cost recovery via court case. Is the managment capacity adequate? General Announcement::FILING OF WRIT OF SUMMONS (sgx.com) |
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Immotion
Member |
05-Jan-2023 10:19
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This is very ture. I read the queres and reponds report, SIAS did make a in depth queries and pointed out many facts (retain earning turning to accumulated losses, business longivity, management of credit risk, leadership succession, management of Key Man Risk, create value for shareolders, not paying dividend, Independent of Baord Commitee...etc.) The list is long and smelly, the issues are scary. Day to day business management - is the management team strong enough and adequate especially around managing of account receivables or credit risk management. Most of the years of losses they are due to bad debt when the busienss margin is thin. Where is their credit risk management, cannot have same mistake made over and over again, right? The company management keep giving excuses and explained they are in a competitive industry, today which industry is not competitve? The point is how to craft out a competitve and sustainable advantges in your business and not crying over spill milk. The compnay should stop giving that excuse, get out of the business fast if they cannot manage the issue. In the SIAS qureis, it was pointed out other listed companies in same industry is profitable, why not Vibropower? Independent of ID - SIAS queries raised my eyebrow. Is there really a issue on indepedency of the Independent Directors? isn' t one of Independent Diretcors responsbility is to protect the interest of minority shareholders ? What can minority shareholders do not except to suck their thumb for trusting the company? |
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SpinAround
Member |
04-Jan-2023 22:34
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Wa, this VP is now only 4.6 cents, sibei chum leh. Year by year it lower and lower, from 24 cents it lost 80% liao. Next Jan maybe 3 cents. Forward looking vision? management? simi lye.... If management have, VP cannot contiue making loss and at only 4.6 cents. SIAS ask them question General Announcement::RESPONSE TO QUERIES FROM SHAREHOLDER AND SIAS ON ANNUAL REPORT (sgx.com) they turn here turn there, also can, SIAS also bo bian.
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Laggard
Senior |
12-Nov-2022 00:41
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I do not think the current managment is capable of transiting from current fossil fuel energy busiess to renewable energy or stepping into EV batteries. The board spoke briefly about it in their annual reporting an EV batteries, just to inform shareholders they know something, doing something. However, if you look at the way they venture into the China Power Plant business (which is a renewable energy), see how slow they took to make the progress so far, I doubt they have the managament capacity to do the transition not to mention about the know how, After all they are the Diesel Genset guys. At this age, they are into a " sunset industry" especially when heavily depending on Singapore market that is phasing out fossil fuel. SIAS pointed on the " key man risk" to the board in the last AGM, that said enough on their ability to transform and perhaps everything. |
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Slowturtle
Senior |
10-Nov-2022 10:53
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Something needs to be changed in the management if business vision is not forward-looking in this day and age. | ||||
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Slowturtle
Senior |
10-Nov-2022 10:51
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Why the management not geting into renewable energy or EV batteries businesses? Still on diesel energy will lead them into oblivion. | ||||
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Immotion
Member |
26-Jul-2022 16:35
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Sias & shareholders questions are not answer to the point or only partially. many questions over the result and how the company is run & accountability of management and board. who can hold them accountable? no one ! but, again this is the risk on buying into a small company!!
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Laggard
Senior |
26-Jul-2022 09:17
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Same industry and different outcome/fate. XMH annoucned dividend and stock price rocket 70+% in 2 months and double since start of the year. Yet, Vibropower annocuned making losses of $3 Mil?? Company replying to SIAS queries before AGM that they are in very competitive industry, geo politcial and raising cost issues, how many companies is not in such situation? Maybe should study how peers in same industry compete profitability insetad of giving reasons for their under performance. SIAS post some very good and valid questions to the board and management.... Very insigntful, Kudos to SIAS.
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