Swiber   

Swiber Holdings Limited

https://www.fool.sg/2016/08/26/swiber-holdings-limited-extends-results-announcement-date-what-it-means-for-investors/

 

I am sure many people checked with their HR. Very irresponsible to have the employee working but not knowing if they will be paid or not. 

Wind22i      ( Date: 22-Aug-2016 21:07) Posted: Can check with HR.. Or find a new job..

 

Can check with HR..
Or find a new job..

 

Salary for month of august we will know next week. CPF is for month of July which is due mid-august. Reason for delay or no money to pay we dont know.

 

Wind22i      ( Date: 22-Aug-2016 19:43) Posted: Do they still pay salaries? Khoolie      ( Date: 20-Aug-2016 10:32) Posted: Swiber has not paid cpf to their employees for month of july. Not sure what the Judicial Managers are doing.

 

Do they still pay salaries?

Khoolie      ( Date: 20-Aug-2016 10:32) Posted: Swiber has not paid cpf to their employees for month of july. Not sure what the Judicial Managers are doing.

 

Swiber claims continue to stack up

 

Everything seems murky. Anyone heard of this AMTC who wanted to inject $200 mils into Swiber Investment Ltd.? And why Swiber Investment Ltd. but not Swiber Holdings or Swiber Offshore Constrution? What does this Swiber Investment Pte. Ltd. do?

AMTC seems to occupy a very small office (< 20m2?) and sharing with a recruitment company. No clear information who are the investors and directors of this company. Very little is known of a company who claim to be able to fork out so much money.

http://addressfinder.guide/address/orion-group-london-limited-unit-211-the-light-bulb-1-filament-walk-wandsworth-london-grea-50bdba5fdd/

http://amtcltd.co.uk/contact-us

 

 

Yes. There is penalty.  http://www.mom.gov.sg/employment-practices/central-provident-fund/employers-contributions   But under JM we dont know  

 

 

 

 

Cannot owe CPF money right...is there any ruling said that ?

Khoolie      ( Date: 20-Aug-2016 10:32) Posted: Swiber has not paid cpf to their employees for month of july. Not sure what the Judicial Managers are doing.

 

Swiber has not paid cpf to their employees for month of july. Not sure what the Judicial Managers are doing.

 

 

 

How can this be pubish in the first place. As said before, Govt cannot used taxpayers money to bail out this. Soon almost all sectors would wanna ask govt to bail them out. It cannot and must not happen.

granto      ( Date: 19-Aug-2016 15:02) Posted: Singapore government tipped to aid struggling offshore sector:  http://splash247.com/singapore-government-tipped-aid-struggling-offshore-sector/

 

Don't expect so much.

Sequence of payment for liquidation or even judicial management are below.

1) cost spending in liquidation or judicial management

2) salary or wage of staffs and all expenses to staff and compensation

3) taxes owed to gov

4) secured loan creditor

5) unsecured loan creditor like bonds

Last one shareholders.

So far JM in Sgx company and relist again is zero. So move on.

pnuklis      ( Date: 19-Aug-2016 15:29) Posted: Swiber is under judicial control and has chance to get back if the company can deliver the goods as contracted. Am not sure if the directors are still in picture to operate the company. Hope they make it back.

 

I think only profit will goes to DBS.....sub-contractor cost consider " cost of sale" I think.....

ysh2006      ( Date: 19-Aug-2016 18:59) Posted: How about subcon who do the projects will they be paid or need to put up a claim court paper submit to JM and wait for Swiber to pay them years later ?... investshare      ( Date: 19-Aug-2016 17:29) Posted: Not sure if I interpret it correctly ... I read that under JM, Swiber can continue to complete its several contracts. These are fenced off and isolated, and they are collaterals to DBS. So once project complete, payment will be made to DBS.

 

How about subcon who do the projects will they be paid or need to put up a claim court paper submit to JM and wait for Swiber to pay them years later ?...

investshare      ( Date: 19-Aug-2016 17:29) Posted: Not sure if I interpret it correctly ... I read that under JM, Swiber can continue to complete its several contracts. These are fenced off and isolated, and they are collaterals to DBS. So once project complete, payment will be made to DBS.

 

What will happen to those who bought before or just prior to the suspension ..
Total loss i think...?
Unless regulators tighten their rules on disclosure..
i think many more swibers cld be lurking around and it doesnt boost investor confidence..

 

Not sure if I interpret it correctly ... I read that under JM, Swiber can continue to complete its several contracts. These are fenced off and isolated, and they are collaterals to DBS. So once project complete, payment will be made to DBS.

 

They are SMM & Keppel lah....small coy will let go...like last GF .....

granto      ( Date: 19-Aug-2016 15:02) Posted: Singapore government tipped to aid struggling offshore sector:  http://splash247.com/singapore-government-tipped-aid-struggling-offshore-sector/

 

Swiber is under judicial control and has chance to get back if the company can deliver the goods as contracted. Am not sure if the directors are still in picture to operate the company. Hope they make it back.

 

Swibel is as good as gone ! No need to struggle .

zandlery      ( Date: 19-Aug-2016 15:05) Posted: don't think Swiber one of them......Swiber not "struggling"......Swiber is towel thrown...... granto      ( Date: 19-Aug-2016 15:02) Posted: Singapore government tipped to aid struggling offshore sector:  http://splash247.com/singapore-government-tipped-aid-struggling-offshore-sector/

 

don't think Swiber one of them......Swiber not "struggling"......Swiber is towel thrown......

granto      ( Date: 19-Aug-2016 15:02) Posted: Singapore government tipped to aid struggling offshore sector:  http://splash247.com/singapore-government-tipped-aid-struggling-offshore-sector/