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Nam Cheong
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sheerluck
Supreme |
21-Jul-2017 14:53
Yells: "Work for your money first then let your money work for you" |
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Can suka suka suspend payment one? Like that all other companies can follow suit liao loh. I also want to suspend all my payments until I finish restrucutring, can or not? I think the creditors and shares, notes and toilet paper holders should just apply to court to seize all their assets and sell. That' s what bank do right. If you cannot pay up, they seize your house and force sale it. You can said " restructuring" to them meh? Funny that banks treats individual debtors whose loan is small in comparison like shit while sayang sayang listed co whose loan are huge like king.
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MichaelSchenker
Master |
21-Jul-2017 14:51
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Public listed companies can just simply close door. Directors clear their offices and walk away. Public shareholders will just have to bear the principal losses. But, what happens if companies are doing well and profitable? Similarly, public shareholders will be left high and dry, why? Because such companies will be privatised quickly. Public shareholders will always have the short end of the stick. Then again, why are we still hanging around....lol!? |
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bernardc
Elite |
21-Jul-2017 14:44
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hahaha..its nam cheong..says.. i have no money so what..i mrestructuring.. dont like sue me lah..\yayay papya talk... shareholders.eat shit...who cares
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ahhuat08
Elite |
21-Jul-2017 14:41
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1) Linc 2) Tech oil and gas 3) Swissco 4) Rickmers 5) Ezra 6) Swiber 7) Now Nam cheong so whos next? |
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sheerluck
Supreme |
21-Jul-2017 14:37
Yells: "Work for your money first then let your money work for you" |
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I think Nam Cheong really sabotage all holders doing it this way. This is what Swiber did as well. They should really starts the negotiation process way back back but kept delaying until the last minute. Really disappointed with them. But I don' t think they are like Swiber which seems like a big con job now. I more believe they didn' t want to bite the bullet early enough and now the bullet bites back. Ouch. Very ouch for all holders. One question though: mgmt still getting nice pay? Can suspend their pay as well?
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bernardc
Elite |
21-Jul-2017 14:33
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yaya papaya.. owe money still so yayya... after restructuring...,001 cts??
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shadow
Veteran |
21-Jul-2017 14:25
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After the informal meetings news already out yesterday, stating that they not going to pay and decided to " temporarily cease" repayment on all its borrowings while it seeks to undergo restructuring. Nam Cheong said that it will not be making payment of the next coupon payment due on July 23, 2017 with respect to the S$90 million Series 004 Notes. Stock still trading as per normal no panic selling yesterday etc ... Today suddenly just call to suspends trading... What are they up to? |
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acetron
Member |
21-Jul-2017 14:20
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Another bites the dust | ||||
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MichaelSchenker
Master |
21-Jul-2017 14:16
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http://www.businesstimes.com.sg/companies-markets/nam-cheong-suspends-tradingNam Cheong suspends tradingby
STEPHANIE LUO[email protected]@StephLuoBT
NAM Cheong has called for a trading suspension on Friday with immediate effect. This comes after the mainboard-listed company said on Thursday that it has decided to " temporarily cease" repayment on all its borrowings while it seeks to undergo restructuring. Nam Cheong said that it will not be making payment of the next coupon payment due on July 23, 2017 with respect to the S$90 million Series 004 Notes. It has appointed PricewaterhouseCoopers Advisory Services Pte Ltd as its financial adviser to advise and assist it on suitable restructuring options. The Malaysian shipping company has started discussions with lenders on restructuring the group' s bank facilities. On March 31, 2017, it had RM1.84 billion (S$586 million) debt outstanding in bank loans and bonds. Last month, Nam Cheong' s shares tumbled to a five-year low of 1.6 Singapore cents after it emerged from a trading halt following news of a writ of summons issued on OCBC Bank' s claims against the company and its subsidiary. Nam Cheong last traded at S$0.02 on Thursday.
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ysh2006
Supreme |
21-Jul-2017 14:15
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The company yesterday said no issue in on going concern meaning got money but why don't pay OCBC leh...? So many bond maturing dates this next month now than ask holders to tolong tolong extend another 3 yr no interest pay...if three years later cannot extend another three yr ?
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bernardc
Elite |
21-Jul-2017 14:03
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hhalted..lifted..suspended.. no money no talk,...lenders say.. i want your rigs..cheap cheap..omg
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MichaelSchenker
Master |
21-Jul-2017 14:02
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Suspended with immediate effect, without prior warning, not even a trading halt. | ||||
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ysh2006
Supreme |
21-Jul-2017 13:52
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Can get the link work or paste the BT news here for us to read ?...
Many thanks
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laksaman57
Supreme |
21-Jul-2017 10:11
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http://www.businesstimes.com.sg/companies-markets/four-singapore-companies-with-bond-deadlines-to-watch
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ahhuat08
Elite |
21-Jul-2017 10:06
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Playing o& g counters now with high debt and tons of bonds/notes to redeem ones, is like holding a time bomb. Take heed, when those counters seem too dirt cheap to be true, better avoid at all costs.
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laksaman57
Supreme |
21-Jul-2017 09:57
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Nam Cheong asked for suspension.
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pasttime
Supreme |
21-Jul-2017 09:27
Yells: "gold silver are real money. not others iou." |
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banks affected. | ||||
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Wind22i
Supreme |
21-Jul-2017 09:21
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Gone case liao la | ||||
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ysh2006
Supreme |
21-Jul-2017 09:17
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This stock yesterday asked to lift halt today why suspended ? maybe Sgx don' t allow it to lift because have not settled OCBC letter of demand to pay money before it said now no pay debt already!!...cunning hor, got money don' t want to pay people.
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sheerluck
Supreme |
21-Jul-2017 09:17
Yells: "Work for your money first then let your money work for you" |
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No announcment on SGXNET? So despearate?
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