Swiber
Swiber Holdings Limited
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601-620 of 804
Swiber owned about 26% - 27% of Vallianz. Do not think having entered provisional liquidation they permitted to sell stake in Vallianz without liquidator authorization, and do not think that will happen. But I not legal expert so may be wrong.
teeth53 ( Date: 28-Jul-2016 11:59) Posted:
Think....is abit late now. :((
yyhwin ( Date: 28-Jul-2016 11:55) Posted:
Not 100% owned.
I suspect they are selling their stake in Vallianz now to raise cash?
Coz according to the share issued etc, if they sell vallianz now, they should be able to get back some cash.
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Thks ED ..25% ownership is majr shareholder.....so if S is liquidated.....Valliance has to be halt.
Cant see why S/SGX didnt requested this ....25% of V shares is affected .
teeth53 ( Date: 28-Jul-2016 11:55) Posted:
Ya...very correct. :(
earlybird14 ( Date: 28-Jul-2016 09:26) Posted:
| Swiber only hold 25% of Vallianz. But if Vallianz is the one cannot pay the debt, next will be them |
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Liquidator will do the job !
That' s why I said " under the cover of technicality" . Say you own some shares in Sauybo and you bankrupt, SGX needs to do anything about it? No because your bankruptcy in in you own personal capacity.
FATABA ( Date: 28-Jul-2016 11:53) Posted:
Correct me if I am wrong ...officially Swiber owns Valliance ( % ) ...so if Swiber is Chap11, all their assets would be under bank liquidation ...unless they are NOT a major shareholder. Anyone can confirm the % ownership here .
So SGX can say they dont know?
sheerluck ( Date: 28-Jul-2016 10:28) Posted:
Officially V and S are separate entity listed in SGX. So SGX can, under the cover of technicality, be ignorance about their " relationship" .
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Think....is abit late now. :((
yyhwin ( Date: 28-Jul-2016 11:55) Posted:
Not 100% owned.
I suspect they are selling their stake in Vallianz now to raise cash?
Coz according to the share issued etc, if they sell vallianz now, they should be able to get back some cash.
FATABA ( Date: 28-Jul-2016 11:53) Posted:
Correct me if I am wrong ...officially Swiber owns Valliance ( % ) ...so if Swiber is Chap11, all their assets would be under bank liquidation ...unless they are NOT a major shareholder. Anyone can confirm the % ownership here .
So SGX can say they dont know?
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File for bankrupt..????
Siwomp ( Date: 28-Jul-2016 09:16) Posted:
Agreed....... sad day for those vested.
earlybird14 ( Date: 28-Jul-2016 09:09) Posted:
Don't expect so much. If the assets can borrow more money, they won't file liquidation with 25mio debt repayment.
Banks already calculated all, so basically, nothing left to shareholders. The assets in balance sheet doesn't reflect the actual market value when most of the vessels are laid off without jobs |
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Ya...very correct. :(
earlybird14 ( Date: 28-Jul-2016 09:26) Posted:
Swiber only hold 25% of Vallianz. But if Vallianz is the one cannot pay the debt, next will be them.
FATABA ( Date: 28-Jul-2016 09:22) Posted:
Any idea why Variance is not halt ? Swiber owns them so if swiber is c11....Variance shld be affected ?
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Not 100% owned.
I suspect they are selling their stake in Vallianz now to raise cash?
Coz according to the share issued etc, if they sell vallianz now, they should be able to get back some cash.
FATABA ( Date: 28-Jul-2016 11:53) Posted:
Correct me if I am wrong ...officially Swiber owns Valliance ( % ) ...so if Swiber is Chap11, all their assets would be under bank liquidation ...unless they are NOT a major shareholder. Anyone can confirm the % ownership here .
So SGX can say they dont know?
sheerluck ( Date: 28-Jul-2016 10:28) Posted:
Officially V and S are separate entity listed in SGX. So SGX can, under the cover of technicality, be ignorance about their " relationship" .
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Correct me if I am wrong ...officially Swiber owns Valliance ( % ) ...so if Swiber is Chap11, all their assets would be under bank liquidation ...unless they are NOT a major shareholder. Anyone can confirm the % ownership here .
So SGX can say they dont know?
sheerluck ( Date: 28-Jul-2016 10:28) Posted:
Officially V and S are separate entity listed in SGX. So SGX can, under the cover of technicality, be ignorance about their " relationship" .
FATABA ( Date: 28-Jul-2016 10:22) Posted:
VERY surprise Variance is NOT halted? ...and SGX remains quiet. Still trading as top volume.
OMG what is our market doing .....:((
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johnng ( Date: 28-Jul-2016 10:02) Posted:
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Why can't SW file for JM
sheerluck ( Date: 28-Jul-2016 11:40) Posted:
Should penalised all these directors for failing their DD or the lack of and bar them from being director for lives. Earned million dollar as fee and what did they do to protect shareholders interest? SG is so hands-on in making its common folks behave well but so hands-off when it come to these " top people" .
GuavaXF30 ( Date: 28-Jul-2016 11:20) Posted:
Just heard SGX launching investigation into Swiber as well.
Typical SGX. Investigate ? Might as well call postmortem.
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Said $21 million termination of contract is immaterial. But liquidate due to mere $26 million in letters of demand. Cannot issue rights meh?
sheerluck ( Date: 28-Jul-2016 11:40) Posted:
Should penalised all these directors for failing their DD or the lack of and bar them from being director for lives. Earned million dollar as fee and what did they do to protect shareholders interest? SG is so hands-on in making its common folks behave well but so hands-off when it come to these " top people" .
GuavaXF30 ( Date: 28-Jul-2016 11:20) Posted:
Just heard SGX launching investigation into Swiber as well.
Typical SGX. Investigate ? Might as well call postmortem.
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Should penalised all these directors for failing their DD or the lack of and bar them from being director for lives. Earned million dollar as fee and what did they do to protect shareholders interest? SG is so hands-on in making its common folks behave well but so hands-off when it come to these " top people" .
GuavaXF30 ( Date: 28-Jul-2016 11:20) Posted:
Just heard SGX launching investigation into Swiber as well.
Typical SGX. Investigate ? Might as well call postmortem.
sheerluck ( Date: 28-Jul-2016 10:28) Posted:
Officially V and S are separate entity listed in SGX. So SGX can, under the cover of technicality, be ignorance about their " relationship" .
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Just heard SGX launching investigation into Swiber as well.
Typical SGX. Investigate ? Might as well call postmortem.
sheerluck ( Date: 28-Jul-2016 10:28) Posted:
Officially V and S are separate entity listed in SGX. So SGX can, under the cover of technicality, be ignorance about their " relationship" .
FATABA ( Date: 28-Jul-2016 10:22) Posted:
VERY surprise Variance is NOT halted? ...and SGX remains quiet. Still trading as top volume.
OMG what is our market doing .....:((
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From their AR, Valiianz and The
French Chic
ken Group.
FATABA ( Date: 28-Jul-2016 10:24) Posted:
Yes, beside Variance and Swiber ....I dont know what other companies they are involved or owned......maybe helpful if someone can list them here.
WILL STAY AWAY FROM THEM ...
pinkowl ( Date: 28-Jul-2016 10:22) Posted:
Correct. Must remember their names.
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Officially V and S are separate entity listed in SGX. So SGX can, under the cover of technicality, be ignorance about their " relationship" .
FATABA ( Date: 28-Jul-2016 10:22) Posted:
VERY surprise Variance is NOT halted? ...and SGX remains quiet. Still trading as top volume.
OMG what is our market doing .....:((
sheerluck ( Date: 28-Jul-2016 10:17) Posted:
Even though this shit happened, the info is useful. Now need to track which other companies these people are director in and you know how well your ineterst are safeguarded.
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I think one important thing to consider is, are there O& G shares of the various counters that are pledged to banks by the owners? with this wind up, many will be force sold by banks if the owners cant make up the difference. This will trigger the next wave.
Yes, beside Variance and Swiber ....I dont know what other companies they are involved or owned......maybe helpful if someone can list them here.
WILL STAY AWAY FROM THEM ...
pinkowl ( Date: 28-Jul-2016 10:22) Posted:
Correct. Must remember their names.
sheerluck ( Date: 28-Jul-2016 10:17) Posted:
Even though this shit happened, the info is useful. Now need to track which other companies these people are director in and you know how well your ineterst are safeguarded.
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our market doing what it always does. Predictability.. No interference by regulators, let the market decide on its own.
VERY surprise Variance is NOT halted? ...and SGX remains quiet. Still trading as top volume.
OMG what is our market doing .....:((
sheerluck ( Date: 28-Jul-2016 10:17) Posted:
Even though this shit happened, the info is useful. Now need to track which other companies these people are director in and you know how well your ineterst are safeguarded.
novena_33 ( Date: 28-Jul-2016 10:13) Posted:
these guys just leave behind a pile of shit for other to clean or catch...and the go off to look for new company to work...or play golf....wtfish....
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