Swiber

[Sunny]

  On 8/8/2016 at 3:03 AM, Ktglfc said:

Those who bought last week ... laughing all the way :))

Kopi $ earned in less than a week :)

 

 

if sell now cant make much profit to buy kopi from sk vending machine yet

[Jamesc]

  On 8/8/2016 at 12:46 AM, Celicar said:

It is very understandable why they will just go for the bust.

 

If the creditors are squeezing every where

 

its just a natural course of events as a first

 

point of contact to go directly for the bust.

 

[Ktglfc]

  On 8/8/2016 at 3:20 AM, Sunny said:

if sell now cant make much profit to buy kopi from sk vending machine yet

Hahaha

Still less than the dividend announced ...

Maybe just wait awhile more... But could go lower after National Day ...

[Jamesc]

  On 8/7/2016 at 11:39 PM, Blueray said:

DBS's S$17b exposure to O&G sector in focus

.....

DBS's upcoming second-quarter results briefing on Aug 8 is likely to be dominated by questions over its S$700 million exposure to failed Swiber Holdings and the consequent S$150 million hit to its earnings.

.....

DBS chief executive Piyush Gupta will have to show that he is on top of the bank's S$17 billion exposure to the oil and gas sector, which accounts for 5.9 per cent of its loan book. After all, it was only in May when he said that he didn't see any imminent signs of weakening in the bank's oil and gas exposure.

.....

http://www.businesstimes.com.sg/banking-finance/dbss-s17b-exposure-to-og-sector-in-focus

 

Why he never come to MCF?

 

Long before May people here were talking about

 

the risk in O&G. At that time I thought O&G was the

 

doctor that asked my wife to strip for him, he touch

 

her here and there and then send me a big bill for it.

 

[Myxilplix]

Kanasai who dunno O&G going to run into problems. Last year already can see.

 

Gupta better have a closer look at some of the other companies mentioned in this thread.

[Jamesc]

I just wished when I was in school

 

the careers officer told me about jobs

 

in O&G. Not the O&G that is going bankrupt

 

but the ones with doctors poking here and

 

there and getting paid for it. I understand its

 

recession proof also.

 

  

 

[Jamesc]

  On 8/8/2016 at 6:15 AM, Myxilplix said:

Kanasai who dunno O&G going to run into problems. Last year already can see.

 

Gupta better have a closer look at some of the other companies mentioned in this thread.

 

He got so many analysts and consultants and economists

 

under him and not one of them saw this? How much does he pay them?

 

If he has to come here for expert information I think he should

 

at least pay MCF for it. Just half of what he pays his staff will do.

 

  

[Jamesc]

  On 8/8/2016 at 6:15 AM, Myxilplix said:

Kanasai who dunno O&G going to run into problems. Last year already can see.

 

Gupta better have a closer look at some of the other companies mentioned in this thread.

 

He got so many analysts and consultants and economists

 

under him and not one of them saw this? How much does he pay them?

 

If he has to come here for expert information I think he should

 

at least pay MCF for it. Just half of what he pays his staff will do.

 

  

[Jamesc]

So that's why they didn't see

 

Lehman and Swiber coming too.

 

  

[Wyfitms]

  On 8/8/2016 at 6:23 AM, Jamesc said:

He got so many analysts and consultants and economists

 

under him and not one of them saw this? How much does he pay them?

 

If he has to come here for expert information I think he should

 

at least pay MCF for it. Just half of what he pays his staff will do.

 

  

 

u can't fault DBS analysts. They are not even half as smart as the average joe in MCF

 

Even the poorest guy in MCF already have $700k cash 

[Jamesc]

  On 8/8/2016 at 6:31 AM, Wyfitms said:

u can't fault DBS analysts. They are not even half as smart as the average joe in MCF

 

Even the poorest guy in MCF already have $700k cash 

 

I couldn't agree more.

 

I rather take investment advice from MCF.

 

Lehman, Swiber I wonder what next?

 

  

[Blueray]

Swiber imploded in just 6 weeks: DBS chief Piyush Gupta

 

SINGAPORE - DBS Group Holdings chief executive Piyush Gupta said on Monday (Aug 8) that its client Swiber Holdings imploded in six weeks.

"There were no indications that this was coming," said Mr Gupta at a media briefing on the bank's quarterly results.

.....

DBS revised up its total exposure to Swiber to S$721 million from S$700 million announced previously. Its total non-performing loans (NPLs) grew 31.1 per cent to S$3.26 billion in the second quarter, with NPL ratio sitting at 1.1 per cent, up from 0.9 per cent a year ago and 1 per cent a quarter ago.

 

Singapore's biggest lender also disclosed earlier on Monday that it had S$23 billion exposure to the struggling oil and gas sector, of which S$7 billion was to oil services firms excluding Swiber.

.....

Mr Gupta also said also said it was "uncertain" whether AMTC will come through with financing despite a report over the weekend by the Business Times that the deal is still alive.

.....

 

http://www.straitstimes.com/business/banking/swiber-imploded-in-just-6-weeks-dbs-chief-piyush-gupta

 

Edited August 8, 2016 by Blueray

[Ktglfc]

  On 8/8/2016 at 6:31 AM, Wyfitms said:

u can't fault DBS analysts. They are not even half as smart as the average joe in MCF

 

Even the poorest guy in MCF already have $700k cash

MCF bros all no loans one ... Full cash in hands :))

  On 8/8/2016 at 6:40 AM, Jamesc said:

I couldn't agree more.

 

I rather take investment advice from MCF.

 

Lehman, Swiber I wonder what next?

 

Don't care what's next... Buy on dips and sell on highs :))

[Voodooman]

  On 8/8/2016 at 7:29 AM, Blueray said:

Swiber imploded in just 6 weeks: DBS chief Piyush Gupta

SINGAPORE - DBS Group Holdings chief executive Piyush Gupta said on Monday (Aug 8) that its client Swiber Holdings imploded in six weeks.

"There were no indications that this was coming," said Mr Gupta at a media briefing on the bank's quarterly results.

.....

DBS revised up its total exposure to Swiber to S$721 million from S$700 million announced previously. Its total non-performing loans (NPLs) grew 31.1 per cent to S$3.26 billion in the second quarter, with NPL ratio sitting at 1.1 per cent, up from 0.9 per cent a year ago and 1 per cent a quarter ago.

Singapore's biggest lender also disclosed earlier on Monday that it had S$23 billion exposure to the struggling oil and gas sector, of which S$7 billion was to oil services firms excluding Swiber.

.....

Mr Gupta also said also said it was "uncertain" whether AMTC will come through with financing despite a report over the weekend by the Business Times that the deal is still alive.

.....

http://www.straitstimes.com/business/banking/swiber-imploded-in-just-6-weeks-dbs-chief-piyush-gupta

Now I am worried. Oil prices are down since last year and these guys are upstream players, to say there was no indication that Swiber may need help is worrying or someone is choosing to see no evil. Come on, during such times, contracts are not worth the papers they are written on. Luckily DBS is big and this is just a small dent on their total income but I scare they have more "no indication exposure" in their books.

[Throttle2]

$3.26bil NPL is 1.1%

So total loans is about $300bil

 

$23bil exposure to O and G sector.

Thats less than 10%

 

Sab sab swuey lah.

 

Piyush's job is intact.

Edited August 8, 2016 by Throttle2

[Weez911]

Not sure if the provisioning is robust enough. PwC should take a good look and challenge the management where necessary. Obviously something is not working well and swiber fell through the cracks. Could there be a more serious thematic issue at play?

[Pinobii]

  On 8/8/2016 at 11:33 AM, Weez911 said:

Not sure if the provisioning is robust enough. PwC should take a good look and challenge the management where necessary. Obviously something is not working well and swiber fell through the cracks. Could there be a more serious thematic issue at play?

Is PWC the auditor for DBS?

 

Heard that they were the auditor for swiber

[Ktglfc]

  On 8/8/2016 at 12:39 PM, Pinobii said:

Is PWC the auditor for DBS?

 

Heard that they were the auditor for swiber

Everything under govt will be good lah ...

Same goes to DBS :))