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SGX recently super on the ball. Now querying Swiber on their corporate governance.
there is negativew news of Swiber lately and it is industry-knowledge that they always under bid the rest in order to secure as many projects as possible to provide cashflow turnover. whether they can actually made profit from these secured projects we outsiders will not really know, except from the annual reports. but sometimes annual reprot does not really reflect the actual situation. it' s how you manipulate the figures.
Long term-wise, Swiber is a losing bet. they have borrowed too heavily and just the interest rate will make them suffer. with no or razor-thin profit, they can' t generate positive returns any time soon.
marine and off-shore industry is suffering at the moment.
Why no query from sgx? Keep sinking.. what's the reason? Can explain anyone?
They better ask one of their ship to come quick. Sinking very fast liao.
sheerluck ( Date: 20-Jul-2016 09:31) Posted:
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NAV of above USD 1.05 per share is unbelievable.
What the singapore market needs is ONE O& G counter to fail... This will trigger a much needed sell down. Force everyone to come to reality.
Let' s see who will be the one who falls first. Swissco and Swiber seem to be in good contention for the spot.
They are in the business of things floating around but they themselves are sinking?
even profitable companies are not paying themselves so much.
waters ( Date: 08-May-2016 21:58) Posted:
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This company short-sell the best. If you short-sell you make the most money. If you listen to their cock and bull story that investor want to buy in to them, then jialat. Even their directors wont put $2 on them, not to mention investor $200mil. Good fantasy dream. I think their 200mil investment is cock-up story.
Found anything?
Siwomp ( Date: 11-Jul-2016 12:17) Posted:
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scrapping the bottom of the barrel......
relax la.......ppl who get upset over the comment of rumor are more absurd.....
SeePehJiaLat ( Date: 08-Jul-2016 09:05) Posted:
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who is this joker who spread rumors about defaulting on bond !!!
If you dont have the info., it is best to keep mouth shut. posting like that is not helpful at all !!!
triphopper ( Date: 07-Jul-2016 11:47) Posted:
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seems like it........ cheez...... beware of spill off effect.
Should be default in bond payments. Good news won't halt so long!
Can win contracts but cannot collect money which means the execution job is not proper. See the amount in overdues that cant be collected!!!!!! Management problem. Who can make money servicing Saudi Aramco and ONGC??????
Kamal you know this O& G business well
遠 水 救 不 了 近 。
granto ( Date: 07-Jun-2016 10:55) Posted:
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Yes....a big negative you rightly pointed out is the increased by 36% for salary to the key management when the company suffered a loss. By right there should be a small profit. Well....this is human nature ( greed and no pride ) but this is not the only company with this type of top management. With present total compensation package.....and that is not a peanut sum of money, they should be already having a good lifestyle and the company can show a profit and the share price will be in a better position.
waters ( Date: 08-May-2016 21:58) Posted:
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No news regarding the lifting of the halt yet?