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High volume and going down. Probably gonna drop another 2 pips today
Will shoot up? What kind of logic is this?
treetops ( Date: 19-Oct-2015 10:33) Posted:
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Will shoot up anytime today! Speculating now.
Play at your own rsik. =P
| POLARIS LTD: (S$0.015) Potential default of 44.9% owned Trikomsel may wipe out its equity |
| 16/10/2015 |
| Polaris' 44.9% owned PT Trikomsel Oke has disclosed that the company may not be able to meet its financial obligations indefinitely, following the general slowdown in the Indonesian economy and the depreciation in the rupiah. The ailing company is an Indonesia-based mobile-phone distributor and retailer. The company previously issued $115m worth of three-year corporate bonds in May ' 13 at 5.25%, and is now seeking to discuss with bondholders on possible restructuring options. Credit rating agency S& P has cited that the potential default of Trikomsel would be a rare event that has not occurred in Singapore' s corporate bond market since the global financial crisis. As of 31 Dec ' 14, Polaris recorded a book value of $318.5m for its investment in Trikomsel, which makes up a whopping 94% of the group' s entire equity value of $338.6m. If Trikomsel fails to restructure its debts, Polaris may potentially see a massive wipeout of its book value. By Clement Ho |
UPDATE: Trikomsel invites bondholders for meeting
SINGAPORE, Oct 15 (IFR) - Indonesia' s Trikomsel has invited holders of its
Singapore dollar bonds to a meeting on October 26 for an update on its financial
position.
The mobile phone distributor said the bondholder meeting through a conference
call would also present its business plan, as well as discuss possible
debt-restructuring options.
" While the circumstances are undoubtedly challenging, the group expects to
present a compelling business case for your continued support under a realistic
re-profiling of its financial obligations," the company said in statement today.
This will involve all holders of its two outstanding Singapore dollar bonds - a
S$115m 5.25% 3-year sold in May 2013 and a S$100m 7.875% 3-year sold in May last
year.
The company emphasised that it had, to date, substantially met its obligations
as they fell due, but might not be able to do the same indefinitely.
A sharply weaker rupiah against the US dollar had taken a toll on the company' s
financial performance, reducing earnings and significantly lowering cash flows.
Trikomsel will set up an informal steering committee made up three to five
substantial bondholders. It has invited investors to join the committee.
FTI Consulting has been appointed as financial adviser on the debt
restructuring.
(Reporting By Kit Yin Boey editing by Dharsan Singh)
(([email protected]
or time to buy more
wxp8838 ( Date: 14-Oct-2015 16:29) Posted:
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So this is a kind of bad news?
treetops ( Date: 14-Oct-2015 14:23) Posted:
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If i not wrong, Stratech also did a restructure before....
did you mean the news is bad?
bishalnb ( Date: 14-Oct-2015 11:49) Posted:
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its nutral, selling is todays market sentiment + reaction to the news
wxp8838 ( Date: 14-Oct-2015 10:45) Posted:
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Is debt restructuring a bad thing?
good or bad news?if bad ,now Eur index drops huge ,tomorrow ,this polaris bear will be dead bear.
POLARIS LTD.
(Company Registration No.: 198404341D)
(Incorporated in the Republic of Singapore)
HOLDING ANNOUNCEMENT
The Board of Directors (the &ldquo Board&rdquo ) of Polaris Ltd. (the &ldquo Company&rdquo ) wishes to inform shareholders
that its associated company, PT Trikomsel Oke Tbk. (&ldquo Trikomsel&rdquo ) has appointed FTI Consulting as its
professional adviser for a debt restructuring plan.
Further announcements will be issued by the Company in the event that there are any further material
developments regarding the above subject matter. In the meantime, shareholders of the Company are
advised to refrain from taking any action in respect of their shares in the Company which may be
prejudicial to their interests, and to exercise caution when dealing in the shares of the Company. In
the event of any doubt, shareholders of the Company should consult their stockbrokers, bank
managers, solicitors, accountants or other professional advisers.
By Order of the Board
Ang Chuan Hui, Peter
Executive Director & CEO
Date: 13 October 2015
This announcement has been prepared by the Company and its contents have been reviewed by the Company&rsquo s
Sponsor, Stamford Corporate Services Pte Ltd, for compliance with the relevant rules of the SGX-ST. The
Company&rsquo s Sponsor has not independently verified the contents of this announcement.
This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no
responsibility for the contents of this announcement, including the correctness of any of the statements or
opinions made or reports contained in this announcement.
The contact person for the Sponsor is Mr Yap Wai Ming:
Tel: 6389 3000
Email: [email protected]
drop again?
Hmm thick wall
hmm will monday have slight gap up
Hopely 20 and then 23. Too fast may not be good.
justinjustin ( Date: 11-Oct-2015 07:31) Posted:
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Hmm Monday 19c?
Yes slow is good but consistently hor! Now can change and promoted to Polar Mini Bull!
Yes. anyway my holding for this Polar Bear is very little only compare to the rest.
But at least it' s GREEN now and i' m happy. =)
treetops ( Date: 09-Oct-2015 17:16) Posted:
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