Showster Twincharged July 29, 2016 Share July 29, 2016 SG 10 year govt bond this year dropped to 1.76% 1 year sibor is at 1.3% Interest rates are going to remain low for the foreseeable future. The interest rate "shock" is not going to happen for years. The same cards have been dealt since a long time ago. Interest moves a bit many companies collapse. For the last year I have been saying ignore the noise. Interest rates are going to be stuck for a very long time. This is the best time for some types of loans and to accumulate savings to pay off if many years later interest rates really rise. ↡ Advertisement Link to post Share on other sites More sharing options...
Blueray Hypersonic July 29, 2016 Share July 29, 2016 Actually Swiber is a listed company and directors can just quit and "pursue personal interests" ... wtf ... Link to post Share on other sites More sharing options...
Kangadrool Supersonic July 29, 2016 Share July 29, 2016 Personal interests means many things lah... change job, sit at home PCC, go for cooking class.... Actually Swiber is a listed company and directors can just quit and "pursue personal interests" ... wtf ... Link to post Share on other sites More sharing options...
Blueray Hypersonic July 29, 2016 Share July 29, 2016 Personal interests means many things lah... change job, sit at home PCC, go for cooking class.... yeah, but Directors have a duty to shareholders ... good times take directors' pay, bad times just jump ship. I do not recall any other cases in SG where directors of listed co just like that bail out. 1 Link to post Share on other sites More sharing options...
Showster Twincharged July 29, 2016 Share July 29, 2016 There are some trying to prevent liquidation. Not sure if they will succeed but fingers crossed. yeah, but Directors have a duty to shareholders ... good times take directors' pay, bad times just jump ship. I do not recall any other cases in SG where directors of listed co just like that bail out. Link to post Share on other sites More sharing options...
Porche 5th Gear July 29, 2016 Share July 29, 2016 Swiber is near my office, i think nearby canteen will have less crowd and IBP bus less passengers Link to post Share on other sites More sharing options...
Kangadrool Supersonic July 29, 2016 Share July 29, 2016 nobody really want to kio sai to be brutally honest. IF I am a director there, I will also dutifully take my salary every month, but when sh1ts hit the fans, I also want to run without needing to tend to the sh1ts. You stay back kio sai also no salary to take home. After all, most of the directors also tan jiak one lah. yeah, but Directors have a duty to shareholders ... good times take directors' pay, bad times just jump ship. I do not recall any other cases in SG where directors of listed co just like that bail out. Link to post Share on other sites More sharing options...
Windwaver Turbocharged July 29, 2016 Share July 29, 2016 Don't know how much trade payable is outstanding, if you are small, you may not be able to afford a major write off. Even secured lenders like DBS expects only to recover 50%, the unsecured trade creditors and bond holders sure cui. Swiber will go to grave with some. Aiya, what is 700M to DBS, peanuts Poor unsecured shareholders........ Thanks for the rate checker. Reckon rates have come down a bit as likelihood of Fed hiking rates for next few months has diminished. My guess is Fed will be raising rates only once this year. Link to post Share on other sites More sharing options...
Blueray Hypersonic July 29, 2016 Share July 29, 2016 My guess is Fed will be raising rates only once this year. means no more for the rest of the year ... Link to post Share on other sites More sharing options...
hsl118 6th Gear July 29, 2016 Share July 29, 2016 Wonder if we will see OC at 5 again.. they should be fine, wealth management side covering retail losses, been this way since they bought ING Link to post Share on other sites More sharing options...
Blueray Hypersonic July 30, 2016 Share July 30, 2016 Swiber to rescind wind-up application and go under judicial management; claims now at US$50.5m http://www.businesstimes.com.sg/companies-markets/swiber-to-rescind-wind-up-application-and-go-under-judicial-management-claims-now Link to post Share on other sites More sharing options...
Kusje Supersonic July 30, 2016 Share July 30, 2016 Separately, Swiber said that "an error" was made in an earlier announcement regarding director and group chief financial officer Leonard Tay's resignation, and he remains as its CFO. Can withdraw resignation? Link to post Share on other sites More sharing options...
Blueray Hypersonic July 30, 2016 Share July 30, 2016 (edited) Can withdraw resignation? now announcements to SGX really no standard, can suka suka post already then say opps got error ... chaps probably realised they can't get away scot free from this so now better stay on and be seen to be co-operative ... Edited July 30, 2016 by Blueray 4 Link to post Share on other sites More sharing options...
Kusje Supersonic July 30, 2016 Share July 30, 2016 now announcements to SGX really no standard, can suka suka post already then say opps got error ... chaps probably realised they can't get away scot free from this so now better stay on and be seen to be co-operative ... More like because the main creditor (is it dbs?) Is willing to help them so it means he can continue to get salary so why quit? Link to post Share on other sites More sharing options...
Baal Supersonic July 30, 2016 Share July 30, 2016 Oh, so this is the concept in action.... of simi if u owe bank 1k, they hammer u If u owe them 1000k, they bail u out .. 15 Link to post Share on other sites More sharing options...
Voodooman Supersonic July 30, 2016 Share July 30, 2016 More like because the main creditor (is it dbs?) Is willing to help them so it means he can continue to get salary so why quit? All never make provisions lah, so must keep it alive to buy time??? http://www.businesstimes.com.sg/banking-finance/dbs-had-no-prior-specific-allowance-for-swiber-exposure-ubs-report 3 Link to post Share on other sites More sharing options...
Wt_know Supersonic July 30, 2016 Share July 30, 2016 (edited) swiber is too big to fail and need to be bailed out ar? if kepcock i can understand ... swiber? Edited July 30, 2016 by Wt_know Link to post Share on other sites More sharing options...
Kusje Supersonic July 30, 2016 Share July 30, 2016 (edited) swiber is too big to fail and need to be bailed out ar? if kepcock i can understand ... swiber? You nv hear before meh? If you owe the bank 1000s and cannot pay, you are in trouble. If you owe the bank 1 bil dollars and cannot pay, it is the bank that is in trouble. Now DBS is in trouble lor. Bailout is for DBS, not swiber. Edited July 30, 2016 by Kusje ↡ Advertisement Link to post Share on other sites More sharing options...
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