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From this, I' m guessing it' s a negative for FEG. They recognising a loss from the books.
sheerluck ( Date: 07-Apr-2017 18:13) Posted:
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is this good or bad for Stock Price :)
AndyLoss ( Date: 07-Apr-2017 21:26) Posted:
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http://www.businesstimes.com.sg/companies-markets/falcon-energy-subsidiary-dispose-shares-in-ch-offshore-for-s20m-in-strategic-move
MAINBOARD-LISTED Falcon Energy Group and its subsidiary Energian has disposed of 21.83 per cent of total shares in CH Offshore (CHO) for an aggregate consideration of about S$20 million, the group announced in a SGX filing on Friday.
Following the disposal to Singapore-incorporated SZ Offshore Investment, Energian still owns 64.91 per cent of total shares in CHO.
The consideration was arrived at after taking into account, among others, the adjusted net asset value of CHO of about US$197.45 million as of Dec 31, 2016.
The sale of CHO shares was considered a strategic move, said the group, in light of the current global trend of decreasing oil prices, and CHO' s dependency on the oil and gas industry for its revenue.
The share disposal is to meet the group' s pressing obligation to repay the CIMB term loan instalment, which is due. After that, there will be a remainder of S$4.32 million for its working capital purposes. The term loan is secured by the CHO shares charged to CIMB.
no news still :)
Other banks should learn well from DBS, UOB & OCBC failure to react fast to Ezra
Sold 21% of CHO to OZ for $20mil. That' s 13cts per share. FEG bought CHO at 49.5cts just one year+ ago. Seems like CIMB is recalling loan from FEG. Don' t think it will be good for FEG share price.
Since energy coy need the market to draw fund to expand or pay debt, dont think privatising is in the card ?
If there are any news, they shold be out by today. Since FEG is trading at such a discount to its BV, maybe a good time to take it private.
Suspend can easily come back. I do still think it's good news to neutral news. Falcon balance sheet is not that unhealthy in the O&G industry.
AndyLoss ( Date: 07-Apr-2017 16:22) Posted:
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what does that mean...shareholders loose all the money :)
InvestNotTrade ( Date: 07-Apr-2017 16:00) Posted:
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If it doesn' t unhalt by end of today, probably will go into trading suspension already.
still on HOLD
AndyLoss ( Date: 06-Apr-2017 10:04) Posted:
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the hold is still on...
Why on HALT today .... any news coming ?
soundblaster ( Date: 31-Mar-2017 09:42) Posted:
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MASSIVE 30% RETURN IN 2 WEEKS ! WHO ELSE IS AS GOOD ???
danger ( Date: 30-Mar-2017 14:05) Posted:
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HIT HIGH OF 14.3 CENTS TODAY
AS MY PREDICTION 14 cents OR 15 cents MAX
can I enter now ? :)
sheerluck ( Date: 30-Mar-2017 16:55) Posted:
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Good for you on this one.
danger ( Date: 30-Mar-2017 16:41) Posted:
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WHO ELSE SO ACCURATE AND SPOT ON TO HUAT LIKE ME ??!
sheerluck ( Date: 30-Mar-2017 14:28) Posted:
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17% RALLY TODAY . SPOT ON
danger ( Date: 30-Mar-2017 11:59) Posted:
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