Blueray Hypersonic September 1, 2016 Share September 1, 2016 Hmmm, so swiber rates lower than their A+ CDS? dunno lei. but if its unsolicited rating, even more pointless. ↡ Advertisement Link to post Share on other sites More sharing options...
Celicar Turbocharged September 1, 2016 Share September 1, 2016 There were signs pointing to Swiber's troubles before collapse: S&P Global ..... "So if we were to rate Swiber - and we weren't - our credit rating would indicate a relatively high chance of default," Ms Okorochenko said. ..... http://www.businesstimes.com.sg/companies-markets/there-were-signs-pointing-to-swibers-troubles-before-collapse-sp-global Rating agencies really champion ... They are the pedigree artillery behind the cavalry. 马后炮。 4 Link to post Share on other sites More sharing options...
The_Bear Turbocharged September 1, 2016 Share September 1, 2016 Company Briefs: Vallianz Holdings Vallianz Holdings Certain entities of Vallianz Group have recently received letters from the interim judicial managers of Swiber Holdings and its subsidiary, Swiber Offshore Construction (SOC), the company said yesterday. The letters are asking for payments of about US$63.5 million (S$86.5 million), which the interim judicial managers say the entities owe Swiber. The letters also ask for statements of accounts from these entities to Swiber. The Vallianz entities have declined to pay the amounts, the Vallianz Group said yesterday. Vallianz said it explained to the interim judicial managers on Aug 25 that there has been substantial commercial dealings between the Vallianz Group and the Swiber Group. "As a result of these activities, the Vallianz Group would more often than not have receivables due from the Swiber group," it said. The two groups have long had the practice of extending credit to each other with no fixed term of repayment, and eventually netting off any receivables and payables between the two. As such, receivables owed by Swiber to the Vallianz Group "must be taken into account when payments for the amounts are requested by the Swiber Group of the relevant Vallianz entities", Vallianz said. The Vallianz Group had trade receivables and other receivables due from Swiber entities of about US$65.92 million as at June 30, while it had trade payables and other payables owing to Swiber entities of about US$67.34 million. Vallianz is awaiting a response from Swiber's interim judicial managers and will make further updates when appropriate, it said. http://www.straitstimes.com/business/companies-markets/company-briefs-vallianz-holdings Soon many companies will lose until no more briefs. Link to post Share on other sites More sharing options...
tenyawph Turbocharged September 1, 2016 Share September 1, 2016 The sober part of it all is that employees will be let go off. How big is this industry in Singapore and how many employees will be without a job soon? Crude Oil...oh...crude oil, why must you be so cruel to all of us..... 4 Link to post Share on other sites More sharing options...
Kangadrool Supersonic September 1, 2016 Share September 1, 2016 We are using natural gas to generate our electricity liao. The "natural" gas may well be our urea and sai. The hard truth is, we were not paid for sh1tting and urinating, but made to pay. The sober part of it all is that employees will be let go off. How big is this industry in Singapore and how many employees will be without a job soon? Crude Oil...oh...crude oil, why must you be so cruel to all of us..... 3 Link to post Share on other sites More sharing options...
Enye Hypersonic September 1, 2016 Share September 1, 2016 Company Briefs: Vallianz Holdings Vallianz Holdings Certain entities of Vallianz Group have recently received letters from the interim judicial managers of Swiber Holdings and its subsidiary, Swiber Offshore Construction (SOC), the company said yesterday. The letters are asking for payments of about US$63.5 million (S$86.5 million), which the interim judicial managers say the entities owe Swiber. The letters also ask for statements of accounts from these entities to Swiber. The Vallianz entities have declined to pay the amounts, the Vallianz Group said yesterday. Vallianz said it explained to the interim judicial managers on Aug 25 that there has been substantial commercial dealings between the Vallianz Group and the Swiber Group. "As a result of these activities, the Vallianz Group would more often than not have receivables due from the Swiber group," it said. The two groups have long had the practice of extending credit to each other with no fixed term of repayment, and eventually netting off any receivables and payables between the two. As such, receivables owed by Swiber to the Vallianz Group "must be taken into account when payments for the amounts are requested by the Swiber Group of the relevant Vallianz entities", Vallianz said. The Vallianz Group had trade receivables and other receivables due from Swiber entities of about US$65.92 million as at June 30, while it had trade payables and other payables owing to Swiber entities of about US$67.34 million. Vallianz is awaiting a response from Swiber's interim judicial managers and will make further updates when appropriate, it said. http://www.straitstimes.com/business/companies-markets/company-briefs-vallianz-holdings extend credit with no fixed repayment terms is that a usual practice in this industry? wow.... Link to post Share on other sites More sharing options...
Blueray Hypersonic September 1, 2016 Share September 1, 2016 extend credit with no fixed repayment terms is that a usual practice in this industry? wow.... by right not suppose to lah ... but by left .... some more this is an associate company of Swiber 1 Link to post Share on other sites More sharing options...
Kusje Supersonic September 1, 2016 Share September 1, 2016 The sober part of it all is that employees will be let go off. How big is this industry in Singapore and how many employees will be without a job soon? Crude Oil...oh...crude oil, why must you be so cruel to all of us..... Most of the companies (Technip, Mcdermott, Subsea 7, Saipem) in the same niche as swiber have already moved out of Singapore. Last major one should be EMAS/EZRA. http://business.asiaone.com/news/another-om-player-exits-singapore-kuala-lumpur 1 Link to post Share on other sites More sharing options...
Throttle2 Supersonic September 1, 2016 Share September 1, 2016 (edited) The sober part of it all is that employees will be let go off. How big is this industry in Singapore and how many employees will be without a job soon? Crude Oil...oh...crude oil, why must you be so cruel to all of us..... The more sober part is that, they will NOT be able to find another job in the same high paying capacity as this sector is in doldrums. So imagine those with a huge mortgage to pay....... Ooooooooohhhhhh....... Good luck. Edited September 1, 2016 by Throttle2 Link to post Share on other sites More sharing options...
Porker Turbocharged September 2, 2016 Share September 2, 2016 extend credit with no fixed repayment terms is that a usual practice in this industry? wow.... Haolian lah haolian lah. Accuntant 1 Link to post Share on other sites More sharing options...
Neost 6th Gear September 2, 2016 Share September 2, 2016 extend credit with no fixed repayment terms is that a usual practice in this industry? wow.... why not... my father's bank Link to post Share on other sites More sharing options...
Enye Hypersonic September 2, 2016 Share September 2, 2016 Haolian lah haolian lah. Accuntant your assumption on my profession is wrong.... proves that you dunno everything as opposed to your claim 1 Link to post Share on other sites More sharing options...
BanCoe Hypersonic September 2, 2016 Share September 2, 2016 (edited) How come I saw a thread on Hanjin Shipping a few minutes back and suddenly sent missing?? Merged is it??? kinda strange .... anyone else saw it?? Maybe work of unker @Radx again Edited September 2, 2016 by BanCoe 1 Link to post Share on other sites More sharing options...
RadX Moderator September 2, 2016 Share September 2, 2016 How come I saw a thread on Hanjin Shipping a few minutes back and suddenly sent missing?? Merged is it??? kinda strange .... anyone else saw it?? Maybe work of unker @Radx again Abuthen? Nb ppl no search open thread anyhow... Knn Link to post Share on other sites More sharing options...
Blueray Hypersonic September 3, 2016 Share September 3, 2016 Company briefs :AusGroup Beleaguered oil and gas engineering services provider AusGroup halted trading of its shares before the market opened yesterday, in response to a request by the Singapore Exchange after publication yesterday of a report in The Business Times (BT). AusGroup said it will review the article to determine if any further disclosure is required. http://www.straitstimes.com/business/companies-markets/company-briefs-ausgroup-1 Link to post Share on other sites More sharing options...
BanCoe Hypersonic September 3, 2016 Share September 3, 2016 Abuthen? Nb ppl no search open thread anyhow... Knn ???? merged with what thread?? I search oso cannot find ; Under what heading now ?? 1 Link to post Share on other sites More sharing options...
Blueray Hypersonic September 3, 2016 Share September 3, 2016 Swiber names John Swinden as new CEO SWIBER Holdings announced late on Friday night that it has appointed John Swinden as group president, chief executive officer, and an executive director with effect from Sept 2, 2016. This is after its previous head, Yeo Chee Neng, resigned from all appointments in the group with effect from the same day. "In the interests of continuity and to ensure a seamless transition, Mr Yeo will continue to work closely with the group and the interim judicial managers as an adviser to the group," said Swiber in a Singapore Exchange announcement. Swiber also gave an update on claims received by the group; as at Sept 1, the total sum is approximately US$227 million. It said that it is seeking legal advice on the claims. ..... http://www.businesstimes.com.sg/companies-markets/swiber-names-john-swinden-as-new-ceo 7 Link to post Share on other sites More sharing options...
Tedlhw 5th Gear September 3, 2016 Share September 3, 2016 We are using natural gas to generate our electricity liao. The "natural" gas may well be our urea and sai. The hard truth is, we were not paid for sh1tting and urinating, but made to pay. Well partially true.. i believe Tuas Power is is now owned by the Chinese is using also using Thermal coal ↡ Advertisement Link to post Share on other sites More sharing options...
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