Ezra
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EZRA HOLDINGS - RED HOT NEWS
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Hope they got poor advice from its lawyer 😃 and sgx can drag them back for accountability in sgp 👊
joebloggs ( Date: 20-Mar-2017 13:17) Posted:
I thought you had to hold a company in the US for 180 days before you could file for Chapter 11?
leongyan ( Date: 20-Mar-2017 13:07) Posted:
that is to enable them to file Chap 11 under USA laws.
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I thought you had to hold a company in the US for 180 days before you could file for Chapter 11?
leongyan ( Date: 20-Mar-2017 13:07) Posted:
that is to enable them to file Chap 11 under USA laws.
paranomic123 ( Date: 20-Mar-2017 11:57) Posted:
My friends were cheated into thinking that ezra still has future since open new company in US.
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Looks like Nam Cheong's auditor has started to rise red flag. Hope sgx act more proactive and implement repoting rule on all auditors of listed coy.
ahhuat08 ( Date: 20-Mar-2017 12:49) Posted:
Seriously, when it reported a negative equity how come no external auditors cast a serious doubt on its ability to fuction as a goin concern?
laksaman57 ( Date: 20-Mar-2017 12:27) Posted:
| Auditor should have duty to highlight any serious concern early to sgx for sgx to take necessary action before any harm come to investors. Wonder who is Ezra financial auditor ? |
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that is to enable them to file Chap 11 under USA laws.
paranomic123 ( Date: 20-Mar-2017 11:57) Posted:
My friends were cheated into thinking that ezra still has future since open new company in US.
paranomic123 ( Date: 28-Feb-2017 10:25) Posted:
SGX is only concerned about collecting $$ from the buy and sell..Really wondering whats the regulator doing behind?
Not enough man-power after collecting so much $$?
As for Ezra.. one word : finished.
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Despite ezra filing for cap 11, its parent holding company Jit Sun is still loaded,, it owns loyz, emas n triyards. I reckon LL still worth tens of millions. But this wealth is just like a droplet in the ocean as compared with the liabilities that ezra is facing now.
Why a bankrupt company how to be business as usual, the boss told his staff,no immediate impact on the day to day operations of the company...but vendors, suppliers and workers no worries meh...cannot take back money and salary?...who will sell things or supply materials to company...
granto ( Date: 20-Mar-2017 11:57) Posted:
Lee Kian Soo - " business as usual" :)
granto ( Date: 20-Mar-2017 11:08) Posted:
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Laksman - you must ask this question to SGX! THe same applied to Swiber and Swissco? Their auditors seem to have been questioned by SGX and taken to task and that is the reason other auditors are flagging it to cover their back side and you see the consequence of that is more than 20% slide in stock price today. You know whon I am talking about?
Seriously, when it reported a negative equity how come no external auditors cast a serious doubt on its ability to fuction as a goin concern?
laksaman57 ( Date: 20-Mar-2017 12:27) Posted:
| Auditor should have duty to highlight any serious concern early to sgx for sgx to take necessary action before any harm come to investors. Wonder who is Ezra financial auditor ? |
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Why give it back to the Management who appear to have made such a mess of it? Can' t blame this on the oil price, the whole picture won' t be revealed for some time, who has gone guarantor for what. What a complex web and you think they deserve forgiveness..........
sokdotcom ( Date: 20-Mar-2017 12:29) Posted:
IMO LL and his henchmen should just ask the banks for forgiveness and extend his bonds and debt. That is what most Norwegian companies are doing anyway. Giving up all the assets to the banks who have little to experience in this type of equipment would be even worse off. What will the banks do? Lelong for low price when they dont know the fair value of the vessels? Now is probably the worse time to sell these type of assets. As a banker, I would be so stupid as to punish a company by taking a bunch of assets that there is no one to buy it.
On ECS fleet, I can only see that Lewek Champion and AMC Ambassador that are not really competitive vessels.
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IMO LL and his henchmen should just ask the banks for forgiveness and extend his bonds and debt. That is what most Norwegian companies are doing anyway. Giving up all the assets to the banks who have little to experience in this type of equipment would be even worse off. What will the banks do? Lelong for low price when they dont know the fair value of the vessels? Now is probably the worse time to sell these type of assets. As a banker, I would be so stupid as to punish a company by taking a bunch of assets that there is no one to buy it.
On ECS fleet, I can only see that Lewek Champion and AMC Ambassador that are not really competitive vessels.
Auditor should have duty to highlight any serious concern early to sgx for sgx to take necessary action before any harm come to investors. Wonder who is Ezra financial auditor ?
Lol it might sound heartless but I seriously don't feel sorry for your friends dude. I thought it's pretty obvious why they opened a US company. It's like staring at the headlights of an onrushing train and saying there's no train coming.
paranomic123 ( Date: 20-Mar-2017 11:57) Posted:
My friends were cheated into thinking that ezra still has future since open new company in US.
paranomic123 ( Date: 28-Feb-2017 10:25) Posted:
SGX is only concerned about collecting $$ from the buy and sell..Really wondering whats the regulator doing behind?
Not enough man-power after collecting so much $$?
As for Ezra.. one word : finished.
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Beware the next two counters : Hyflux and Noble.. CMI in my humble opinion.
My friends were cheated into thinking that ezra still has future since open new company in US.
paranomic123 ( Date: 28-Feb-2017 10:25) Posted:
SGX is only concerned about collecting $$ from the buy and sell..Really wondering whats the regulator doing behind?
Not enough man-power after collecting so much $$?
As for Ezra.. one word : finished.
Shifu8888 ( Date: 28-Feb-2017 07:40) Posted:
| File for chapter 11 to seek court protection with an investor in the pipeline? Does this theory seem illusive? |
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Lee Kian Soo - " business as usual" :)
granto ( Date: 20-Mar-2017 11:08) Posted:
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Kind of trickery, open company in US to file bankrupty.. local authorities not doing anything? Such s smokescreen like cheating investors.
paranomic123 ( Date: 28-Feb-2017 11:31) Posted:
Anyone in company laws?
Parent - Child
Chap 11?
sgtrader101 ( Date: 28-Feb-2017 11:28) Posted:
This company will not die so soon, not so easy at least.
Still have life left despite some already giving it the death sentence.
Not vested, but will defintely enter soon :)
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Ezra files for Chapter 11 in the US.
risktaker ( Date: 20-Mar-2017 11:43) Posted:
| Setup a new company call Azra.... buy all the lelong assets from ezra and start all over again... |
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Why throw good money after bad not knowing when oil prices will rebound back to USD100 per bbl? Unlikely for now at least due to political uncertainties and the lack lustre global economy. Might as well use the money to help those retrenched!😳
paranomic123 ( Date: 20-Mar-2017 11:37) Posted:
sigh...
alishan ( Date: 17-Mar-2017 12:36) Posted:
If you owe bank a little of money, the bank owns you. Ezra owes banks huge debts, so Ezra now owns the banks. LL now can replaces the position of CEO of DBS, UOB, OCBC. He is now lao da.
If you employ a small number of employees and you close shop, cheng hu doesn' t care. But Ezra employs thousands of employees. If Ezra closes down, cheng hu gets problem to get jobs for the retrenced, or else next GE cheng hu will be awol.
Ezra is too big too fail. 
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Setup a new company call Azra.... buy all the lelong assets from ezra and start all over again...
haha, there is nothing too big to fail, maybe bank. If your investment need the govenment to bail out, you' d better don' t invest. Just wake up and don' t live in the dream.
paranomic123 ( Date: 20-Mar-2017 11:37) Posted:
sigh...
alishan ( Date: 17-Mar-2017 12:36) Posted:
If you owe bank a little of money, the bank owns you. Ezra owes banks huge debts, so Ezra now owns the banks. LL now can replaces the position of CEO of DBS, UOB, OCBC. He is now lao da.
If you employ a small number of employees and you close shop, cheng hu doesn' t care. But Ezra employs thousands of employees. If Ezra closes down, cheng hu gets problem to get jobs for the retrenced, or else next GE cheng hu will be awol.
Ezra is too big too fail.
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