Swiber
Swiber Holdings Limited
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Because KPMG knew someone in the stable has to do national service.
Let see who.
I believe so...... Shareholders are not going to get any benefit, only the creditors (like dbs, etc) will benefit the most !!!
NL0261 ( Date: 06-Sep-2016 09:54) Posted:
| The whole damn bullshit of this business is to salvage as much for dbs n shareholders will still end up wif nothing. wtf ! |
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KPMG has started to to show their inexperience and bullshitting skills. E.g. Asking Vallianz to pay when Swiber owes Vallianz equal amount of money, claiming to have 1.6 billions of projects which are non existent. These are worse than previous management.
SeePehJiaLat ( Date: 06-Sep-2016 09:53) Posted:
no brainer la....it is the Swiber Mgt. The current stage of affair speak for itself...
sheerluck ( Date: 06-Sep-2016 09:48) Posted:
A group of accountants can save a business that a group of industry veteran mgmt cannot? Either KPMG is bullshitting us or Swiber mgmt has been bullshitting us all these years. Choose one.
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The whole damn bullshit of this business is to salvage as much for dbs n shareholders will still end up wif nothing. wtf !
no brainer la....it is the Swiber Mgt. The current stage of affair speak for itself...
sheerluck ( Date: 06-Sep-2016 09:48) Posted:
A group of accountants can save a business that a group of industry veteran mgmt cannot? Either KPMG is bullshitting us or Swiber mgmt has been bullshitting us all these years. Choose one.
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What do u think ?CEO had already resigned and left. Enjoyed all the fat pay previously n now still continues to enjoy affordable life while left behind a sinking ship,
sheerluck ( Date: 06-Sep-2016 09:48) Posted:
A group of accountants can save a business that a group of industry veteran mgmt cannot? Either KPMG is bullshitting us or Swiber mgmt has been bullshitting us all these years. Choose one.
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Cash flow can not be positive. They were left with 7 millions in July as reporter in the news. As far as I know it is monsoon in India now and they cannot execute the projects until end of this year. Which means there is no income in these few months. And India client trying to call bank guarantee, the projects may not happen at all. Other new bids or projects will have to wait even longer, if they really happen. Where do they get the cash if nobody lend them?
investshare ( Date: 06-Sep-2016 09:26) Posted:
May or may not be. Even if it is accounting losing money it could still be cash flow positive. For eg expense already paid for, depreciation etc, which is part of the cost, does not matter now.
pnuklis ( Date: 06-Sep-2016 09:02) Posted:
Now KPMG is bullshitting. All the contracts of Swiber cannot develop any positive cash flow as they are all loosing money deals. Swiber had to take on projects by undercutting others just to keep the show on as such they were all loosing money projects. They are trying to lure buyers to get in to this trap rather than liquidating the company as insolvent. You must give credit to the people who managed this company.
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One luxury the accountant has which the previous management didn't have is, the accountant can ignore people chasing for payment, no need to worry bond due.
sheerluck ( Date: 06-Sep-2016 09:48) Posted:
A group of accountants can save a business that a group of industry veteran mgmt cannot? Either KPMG is bullshitting us or Swiber mgmt has been bullshitting us all these years. Choose one.
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A group of accountants can save a business that a group of industry veteran mgmt cannot? Either KPMG is bullshitting us or Swiber mgmt has been bullshitting us all these years. Choose one.
May or may not be. Even if it is accounting losing money it could still be cash flow positive. For eg expense already paid for, depreciation etc, which is part of the cost, does not matter now.
pnuklis ( Date: 06-Sep-2016 09:02) Posted:
Now KPMG is bullshitting. All the contracts of Swiber cannot develop any positive cash flow as they are all loosing money deals. Swiber had to take on projects by undercutting others just to keep the show on as such they were all loosing money projects. They are trying to lure buyers to get in to this trap rather than liquidating the company as insolvent. You must give credit to the people who managed this company.
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I dont understand why they are people still want to paint a bad picture of Swiber, when it is already under JM, unless they are still holding short position and hope Swiber really goes bankcrupt. Turning Swiber around should be a good thing for the shareholder, if they are able to do it.....
Now KPMG is bullshitting. All the contracts of Swiber cannot develop any positive cash flow as they are all loosing money deals. Swiber had to take on projects by undercutting others just to keep the show on as such they were all loosing money projects. They are trying to lure buyers to get in to this trap rather than liquidating the company as insolvent. You must give credit to the people who managed this company.
They dont have enough working capital anyway. And which bank is willing to finance them now. Crazy hope. Good luck
Its a way to lure new victims in..
It seems that they are still counting on 700mils west africa project which cant be realized. And 600 mils of bid of which company will dare to award to swiber? Then it adds to 1.6 billion. LOL
Khoolie ( Date: 05-Sep-2016 13:02) Posted:
Since when its order book jumped to 1.67 billion? It was less than 500 mils before JM. Why dont they announce the projects secured? Is he talking about bids also? In offshore there is only 10-20% chance to be able to win the tenders.
swv001 ( Date: 05-Sep-2016 10:50) Posted:
the IJM of Swiber says Swiber can be saved. It looks so good. IJM says Swiber has 1.67B secured project orders on-going, and so far received 24 expressions of interest from potential investors. Any one/bondholder has the IJM' s report sebmitted to the High Court last Friday? Please paste here? At lease the balance-sheet as of 31/07/2016. thank a lot.
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Since when its order book jumped to 1.67 billion? It was less than 500 mils before JM. Why dont they announce the projects secured? Is he talking about bids also? In offshore there is only 10-20% chance to be able to win the tenders.
swv001 ( Date: 05-Sep-2016 10:50) Posted:
the IJM of Swiber says Swiber can be saved. It looks so good. IJM says Swiber has 1.67B secured project orders on-going, and so far received 24 expressions of interest from potential investors. Any one/bondholder has the IJM' s report sebmitted to the High Court last Friday? Please paste here? At lease the balance-sheet as of 31/07/2016. thank a lot.
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high chance they are ......5000 years ago.
hlfoo2010 ( Date: 05-Sep-2016 11:58) Posted:
Are Nitish Gupta and Alok Gupta related ?
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Are Nitish Gupta and Alok Gupta related ?
Alot of talk in theory only......Utlimately all just wanted their money back. Shall see how this one going to pull thru.
granto ( Date: 05-Sep-2016 11:41) Posted:
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