Swiber

[Yeshe]

I hope they don't take loan to buy cars, properties etc...

 

Anyway, back to stocks :))

Eyeing bank stocks now... When there is fear, it's buying opportunities :))

Just want to have a better safer margin :))

 

where got fear?? COE n property cheong ah.... huat ah....!!! [laugh]

[car50]

Bro

 

Go marry your dream gal here

 

Even 7 millions will be peanuts for u then

but but




























i no have 700k but you have

[Myxilplix]

Where is the sauce?

 

http://www.supremecourt.gov.sg/services/lists/sheriff's-sales

 

Scroll down to the list of vessels currently under arrest. Linky not complete because of the apostrophe, cut/paste can liao.

Vessel got no project. Arrest or no arrest still sitting around right?

 

Wait tio sold off to pay creditors lor, but probably for peanuts.

Edited August 11, 2016 by Myxilplix

[Throttle2]

Yeah me too. I hope they full cashed down with style.

 

 

Plse lah, you think everyone or anyone is Throttle?

possible no loan on GCBs meh?

 

these people thrive on cash flow

 

 

[Sabian]

Crisis if this one boils over is nothing new to Singapore or the World too;

 

In the 60's there was the Gemini Chit Fund thingy ...... many people loss money

Later on the 80's there was the Pan Electric crisis ........ many people lost money

Then there was the contagion Asean Currency Crisis where even Suharto had to step down and Mahathir cry mother cry father that George Soros wanted to short his currency just 'cos maybe he is a Jew, which is nothing new for Soros as he did the same thing to the Pound (GBP)

 

Only thing nowadays because of massive liquidity and Banks dishing out Credit like don't know how many times peoples net worth; and greed or lust to make big bucks with new spicy products ....... its just gonna get worser AND will get even more and more complicated and speculative;

 

Gone are the good old days when you just deposit $1 to the Bank and the Bank lends out $1 to borrower; So simple life was back then and there was the Gold Standard which if I'm not wrong the US shot it down, cowboy-ing the whole Banking structure

Bro. You sure banks that take in deposit of $1 and lend out $1 is normal?

[Sabian]

How come never kanna sgx query?

since when has their query been useful? post event measure aka horse run liao then close barn door.

 

and give them some template smlj kind of response = end of story.

 

ask them to add more bite into their regulations when parties try shit that are even mildly not align to minority shareholders=jail

 

just look the asiafathers, redmont, tigersilver issue...until now still no sound no picture, think MH370 will be found first before sgx settles this case.

[BanCoe]

Bro. You sure banks that take in deposit of $1 and lend out $1 is normal?

Yeap it was supposed to be back in the old days and interest rates were sky high back then too, usually  double digits and before the Big Banking industry was commercialised,  and no regulations at all.....  Lenders were mostly called Money Lenders and were wealthy people individually and even a one man operation ;  Same thing like the death of your "lima kaki" or "five foot way"  mama shop, all kenna makan by the big convenience brand names ....  

 

I remember quite many decades back if you look at old title deeds you will see endorsements by so many people whom are individuals whom put property as collateral (mortgage) and it was like a piece of historical document which can be almost 60-80 years old  ; Life was simple indeed back then;  Now its just a simple Title Deed in the current owners name only and nothing mentioned about previous owners names        

 

Same way how our local Alongs work ,  they have their own Capital .   

 

Anyway just sharing input ..... 2 cents

Edited August 11, 2016 by BanCoe

[Blueray]

The elusive investor

 

The interim judicial manager of troubled Swiber Holdings has not met any representative from London-based private equity firm AMTC, contrary to claims by AMTC chief executive Smith O'Connor that the deal was still "alive".

 

KPMG said that no representative of AMTC, which had agreed to invest US$200 million (S$269 million) in Swiber Holdings but has yet to do so, had contacted it.

 

Its statement yesterday followed a Business Times report last Saturday, quoting Mr O'Connor as saying that the deal with Swiber was still alive and that an AMTC representative had flown to Singapore last week to work on it.

.....

Industry observers have also asked why DBS secured the loan for the repayment of the S$75 million note against the receivables of Swiber's main revenue generator, Swiber Offshore Construction.

 

They say this appears to make the repayment of the note a preference payment while also making DBS a secured creditor, which will enable the bank to be paid ahead of unsecured creditors.

.....

 

http://www.straitstimes.com/business/the-elusive-investor

Edited August 12, 2016 by Blueray

[Myxilplix]

btw arresting party is allegedly PK Airfinance, a Luxemburg-based assest financier.

 

Info is from an industry publication called Tradewinds, pretty reliable but i forgot my log-in so can't access whole article.

[Pinobii]

Dbs is still going strong

[Neost]

Pacific Radiance chairman had pared stake in Swiber before the debacle started

 

PACIFIC Radiance executive chairman Pang Yoke Min, who owns a substantial stake in beleaguered Swiber Holdings, had from July 12 to 25 disposed of more than three million Swiber shares for S$476,477.59.

.....

The disposal price comes down to about S$0.156 per share. It also occurred before Swiber on July 28 applied to the courts to be wound up. Swiber's last trading price was S$0.109 on July 27.

 

In the latest disclosure, Mr Pang said: "I did not report the sale of 3,059,500 Swiber shares as I was advised by my financial adviser that only one percentage change in shareholding required reporting.

.....

http://www.businesstimes.com.sg/companies-markets/pacific-radiance-chairman-had-pared-stake-in-swiber-before-the-debacle-started

 

Edited August 12, 2016 by Neost

[Ktglfc]

The elusive investor

 

The interim judicial manager of troubled Swiber Holdings has not met any representative from London-based private equity firm AMTC, contrary to claims by AMTC chief executive Smith O'Connor that the deal was still "alive".

 

KPMG said that no representative of AMTC, which had agreed to invest US$200 million (S$269 million) in Swiber Holdings but has yet to do so, had contacted it.

 

Its statement yesterday followed a Business Times report last Saturday, quoting Mr O'Connor as saying that the deal with Swiber was still alive and that an AMTC representative had flown to Singapore last week to work on it.

.....

Industry observers have also asked why DBS secured the loan for the repayment of the S$75 million note against the receivables of Swiber's main revenue generator, Swiber Offshore Construction.

 

They say this appears to make the repayment of the note a preference payment while also making DBS a secured creditor, which will enable the bank to be paid ahead of unsecured creditors.

.....

 

http://www.straitstimes.com/business/the-elusive-investor

 

 

Its a mystery company ... hopefully not related to 1MDB

[Kangadrool]

A Mystery Trading Company.

 

Its a mystery company ... hopefully not related to 1MDB

 

Edited August 12, 2016 by Kangadrool

[Sabian]

Yeap it was supposed to be back in the old days and interest rates were sky high back then too, usually  double digits and before the Big Banking industry was commercialised,  and no regulations at all.....  Lenders were mostly called Money Lenders and were wealthy people individually and even a one man operation ;  Same thing like the death of your "lima kaki" or "five foot way"  mama shop, all kenna makan by the big convenience brand names ....  

 

I remember quite many decades back if you look at old title deeds you will see endorsements by so many people whom are individuals whom put property as collateral (mortgage) and it was like a piece of historical document which can be almost 60-80 years old  ; Life was simple indeed back then;  Now its just a simple Title Deed in the current owners name only and nothing mentioned about previous owners names        

 

Same way how our local Alongs work ,  they have their own Capital .   

 

Anyway just sharing input ..... 2 cents

Sorry man.

 

I won't deposit my money into any bank that lends out every dollar for every dollar deposit they take in...

[Blueray]

A Mystery Trading Company.

 

Their website got 3 pages only. 

 

Won't be surprised if the London address is a serviced office address.

 

http://www.amtcltd.co.uk/

[Jamesc]

Its a mystery company ... hopefully not related to 1MDB

 

What's wrong with 1MDB?

 

It is a very well run, successful and profitable organisation.

 

Expertly run by top management.

 

[Ktglfc]

What's wrong with 1MDB?

 

It is a very well run, successful and profitable organisation.

 

Expertly run by top management.

 

Oh yes, indeed :D

[Jamesc]

Talk nonsense la. If there were no indications then why bother to double check with the equity investor in the first place?

 

You would have thought that highly paid people in top top

 

positions would give better excuses right?

 

My kids give better excused than that.