Swiber

[Kusje]

Cfm is large enuff.. I am betting on the banks wun bear to see Ezra go under...

 

Don't go under is one think. It is possible if the underlying biz is profitable.

 

But whether equity will be wiped out remains to be seen.

[Jujitsuka]

Boh inside news lah.

 

Many companies in same or similar industry are searching for funding.

 

Ezra is defaulting on every damn payment.

Its all dried up like a preserved prune.

Its current liabilities are 2.5times more than its current assets

Equity stake is a mere 12% meaning the company is 88% made up of debt.

 

Mai lah mai lah.

You chin chai buy one Rolex from me also better lah

 

 

I need to buy more of Ezra stocks in order to buy a Rolex from u with the profits LOL... and also depends on the market sentiment to rally their stocks... LOL

[Throttle2]

What happened to the adage that if you owe a large enough amount to a bank, you own the bank.

 

Is their loan large enough yet?

Yes. There is truth to that.

But after Swiber's lesson?

Some CEOs should be punished.

 

Their loan i recall with DBS is $600mil++

Not enough to own the bank but it is still way too much in one company in a related sector i feel.

First swiber, then Ezra, what else?

Cfm is large enuff.. I am betting on the banks wun bear to see Ezra go under...

Throw good money to chase bad money?

 

No way.

As a depositors, you want to fund them to do that?

Better buy my rolex lah

Edited March 17, 2017 by Throttle2

[Jujitsuka]

Yes. There is truth to that.

But after Swiber's lesson?

Some CEOs should be punished.

 

Their loan i recall with DBS is $600mil++

Not enough to own the bank but it is still way too much in one company in a related sector i feel.

First swiber, then Ezra, what else?

Throw good money to chase bad money?

 

No way.

As a depositors, you want to fund them to do that?

Better buy my rolex lah

 

So Ho Ching will use the Indian turned Sgrean CEO as scapegoat ah? Maybe Indian can tongue twist fast fast n smoke Ho Ching? We already lost so much monies in Pakistan when buying one of their local banks... no biggie to prop up DBS n Ezra could be their rationale LOL

[Throttle2]

So Ho Ching will use the Indian turned Sgrean CEO as scapegoat ah? Maybe Indian can tongue twist fast fast n smoke Ho Ching? We already lost so much monies in Pakistan when buying one of their local banks... no biggie to prop up DBS n Ezra could be their rationale LOL

Those things i dont know.

 

You put money in such things, just be ready to lose all.

Dont buy on false hopes, its just a plain bet.

 

Hopefully, you didnt bet much.

Such things , bet $30k to $50k enough already.

Dont do $100k $200k...

[Jujitsuka]

Those things i dont know.

 

You put money in such things, just be ready to lose all.

Dont buy on false hopes, its just a plain bet.

 

Hopefully, you didnt bet much.

Such things , bet $30k to $50k enough already.

Dont do $100k $200k...

 

 

Bro i not same as u lah... how to bet so big? 

[Throttle2]

Bro i not same as u lah... how to bet so big?

Ok

Then how much you whack on Ezra?

 

$10k $20k?

[Jujitsuka]

Ok

Then how much you whack on Ezra?

 

$10k $20k?

 

 

Less than 10k more than 2k... like i said previously to fund my overseas papaya farm trips...

[Throttle2]

Less than 10k more than 2k... like i said previously to fund my overseas papaya farm trips...

Oh i see.

Then, its ok lah.

 

Its a pure punt for you right?

Just like buying toto.

 

Start by writing off everything

Anything that comes back is extra.

 

Company is just like an individual.

Borrow too much base on speculative income.

Cannot pay from income becos it didnt materialise.

Borrow longer term to cover short term.

Extend the problem without a real solution.

Sooner or later sure kena pok.

[Jujitsuka]

Oh i see.

Then, its ok lah.

 

Its a pure punt for you right?

Just like buying toto.

 

Start by writing off everything

Anything that comes back is extra.

 

Company is just like an individual.

Borrow too much base on speculative income.

Cannot pay from income becos it didnt materialise.

Borrow longer term to cover short term.

Extend the problem without a real solution.

Sooner or later sure kena pok.

 

Yaya, Living within one means is the prudent choice. Ya pure punt... minimum effort, maximum gain, that is my mantra.

[Blueray]

Ezra hit with another $4.45m ECS claim, and two bareboat charter terminations

 

Embattled Ezra Holdings woes continue to mount with another claim related to EMAS Chiyoda Subsea (ECS) for $4.45m and liability for two bareboat charters by EMAS Offshore Ltd (EOL) that have been cancelled.

Singapore-listed Ezra said it had received a demand from Serimax North America for $4,451,307 that is due and owing by Ezra as guarantor to a Promissory Note between Serimax and ECS on 16 March 2016. ECS is a joint venture 40% owned by Ezra.

 

Meanwhile two bareboat charter vessel contracts with Ezra subsidiary EOL have been cancelled by the owners. The charter on the Lewek Toucan was terminated by Seabird Penguin Offshore and the vessel Lewek Pelican by Seabird Pelican Offshore .

 

In both cases Ezra and EOL issued a deed of guarantee and indemnity and the owners are claiming the charter hire for the remaining period, return of the vessels, and damages arising from termination of the charters.

 

“The company is seeking legal advice in respect of the Toucan Notice of Termination, the Pelican Notice of Termination and the Serimax Demand and is assessing the impact of these on the group,” Ezra said.

 

Ezra has already been hit by a hefty claim amounting to $194.5m relating to it acting as guarantor for EO under a sale and leaseback arrangement over the pipe-lay vessel Lewek Champaion with China’s ICBC Financial Leasing Co.

 

It is also facing claims made by the solicitors of VT Halter Marine (VTH) and Forland Subsea of $3.21m and $3.1m respectively. In both cases, Ezra is the guarantor for its joint venture firm ECS.

 

 

Posted 17 March 2017

 

http://www.seatrade-maritime.com/news/asia/ezra-hit-a-with-another-4-45m-ecs-claim-and-two-bareboat-charter-terminations.html

Edited March 18, 2017 by Blueray

[Throttle2]

Ezra should go JM like Swiber.

The sooner the better.

It will still go under but i feel it's better for all.

 

Just like in a relationship, seeing it go nowhere except divorce, better quickly get neutral legal third party to sort out early and accept the decision instead of later sue here and there, all the affected parties hv to suffer more.

 

Or like boxing match, throw the towel early sometimes its better.

Dont get whack up so bad knowing that got no defence liao.

In the end KO, badly injured, throw towel also no point already.

Save being punched more for nothing is better

Edited March 18, 2017 by Throttle2

[Blueray]

Ezra has filed for Chapter 11.

 

 

Ezra - Announcement re Chapter 11 190317.pdf

[Throttle2]

Ezra has filed for Chapter 11.

 

Good that they listened to my advice on Thursday night.

 

[Showster]

High risk, high gain, low risk, low gain.

 

Should take risks but never extreme risks with chance of losing everything.

 

Most people either switch between taking no risks or taking extreme risks!

Important lesson to bear in mind for those who oscillate between extreme risk taking or zero risk taking. Between the two, zero risk is the lesser evil.

[Jujitsuka]

Ezra has filed for Chapter 11.

 

 

Sianz.... But why they file in the US cos owe the most amount of monies there?

[Throttle2]

Sianz.... But why they file in the US cos owe the most amount of monies there?

I think it coyld be becos they have world wide creditors and many US dom creditors.

So need US courts protection.

 

As i expected, they throw in the towel.

And its probably better for themselves to be protected.

Also probably better for creditor

 

For equity holders like yourself. Its probably leading to a complete writeoff by now.

Too little too late, i feel.

Ezra will be delisted in dues course in line with the chp11 filing

with the mountain of debt exceeding its assets and a business in an industry which is in doldrums.

Chapter 7 is the next step.

 

Treat as TOTO, lah

 

At least you put money where your mouth is . I respect.

 

Not like those f**k face lame asses who talk shit but they themselves got no guts to buy at 1ct.

Edited March 19, 2017 by Throttle2

[Showster]

The most important is capital preservation, second is capital growth.

 

Got guts or not to buy what not important.

 

Guts more important if you are a Gurkha warrior or guard.

Edited March 19, 2017 by Showster