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I wonder how much they would have paid for it
Octavia ( Date: 04-Apr-2017 17:14) Posted:
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wow... maybe they are leaving singapore.
Ezra chairman' s villa in Sentosa Cove being sold
A PRIME waterway-facing bungalow in Cove Grove in Sentosa held by Ezra Holdings founder and chairman Lee Kian Soo is finally being sold, said sources.
The private treaty deal is understood to have been entered into last week. An agent from Edmund & Tie Co Property Network is understood to have been involved in the transaction but the firm declined to comment when contacted by The Business Times.
While details on pricing were not available, talk in the market is that as recently as two weeks ago, the owner was prepared to consider offers of around S$16 million or S$1,390 per square foot based on the land area of 11,515 sq ft.
Early last year, when the property was put on the market, the price tag was reported to be S$26 million or S$2,258 psf.Since then the asking price has decreased steadily as Ezra' s financial situation worsened.
The mainboard-listed offshore and marine group filed for Chapter 11 protection under the US Bankruptcy Code last month. This was months after Ezra flagged going concerns issues in its full-year results released last November. In its fourth quarter ended Aug 31, 2016, Ezra posted a massive net loss of US$339.6 million and saw its equity to controlling interest plunge to US$232.98 million against over US$1 billion of short-term debt on its books. In early February, the group acknowledged that another US$170 million writedown may be on the table tied to its investment in its Emas Chiyoda Subsea business unit. Ezra chief executive Lionel Lee, son of the chairman, previously used the Sentosa Cove bungalow but the property is now vacant. Mr Lionel Lee and his family have other real estate holdings. These include a 24.98 per cent stake in Thailand' s Raimon Land. The Sentosa Cove bungalow that is being sold is on a site with 89.5 years' balance leasehold tenure. The villa, which has a private berth, spans two storeys, with a basement and an attic. It has five ensuite bedrooms, a swimming pool and an entertainment room.
Bought $12.8M. Sold $6.2M.
....read in paper they loss 6 mils when they sold...
joebloggs ( Date: 04-Apr-2017 17:05) Posted:
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Does it say how much it sold for, I don' t have subscription?
Octavia ( Date: 04-Apr-2017 16:32) Posted:
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Ezra chairman' s villa in Sentosa Cove being sold
http://news.asiaone.com/news/business/ezra-chairmans-villa-sentosa-cove-being-sold
triphopper ( Date: 04-Apr-2017 11:20) Posted:
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My understanding is that its too late for Judicial Management now that management elected for Chapter 11, but under Chapter 11 unsecured creditors can still request an examiner, trustee or statutory committee to ensure that their interests are protected.
Octavia ( Date: 04-Apr-2017 12:26) Posted:
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These noteholders form part of the bigger pool of creditors.An order for Judicial Management will not require the consent of all the company&rsquo s creditors. As long as a simple majority of creditors (both in number and value) agree and the Court is satisfied that the statutory objectives for Judicial Management are met, an order for Judicial Management would be granted. It does not make sense if US court work in the way you described as the Judicial Managers take over, the running of the company will be placed into the hands of creditor-friendly management.the opportunity to influence how the Judicial Managers generally manage the company (as creditors&rsquo approval of the Judicial Managers&rsquo plans are required) and there would be little or no risk of Judicial Managers acting contrary to creditor interests since the Judicial Manager is an officer of the court and must act in the interest of all creditors ensuring that they are treated fairly and impartially. Like for Mercator Lines listed in SGX filed for bankruptcy in Sg court and granted a court appointed Judicial Manager.Maybe more developing news on the JM will be out in coming weeks.
joebloggs ( Date: 04-Apr-2017 11:02) Posted:
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Sentosa condo unit auctioned off at $6.6m loss (http://www.straitstimes.com/business/sentosa-condo-unit-auctioned-off-at-66m-loss)
Wonder who is the owner? Hmm...
I wonder if the noteholders will request that a trustee, examiner or statutory committee is appointed under chapter 11 to protect their interests?
It' s my understanding that if Judicial Management had been sought, a judicial manager would have been appointed by the court. The judicial manager would displace the directors and take control of the company&rsquo s assets and business. They have certain powers of investigation and are able to apply to the court for assistance if required as with Swiber.
I believe Chapter 11 has allowed the current EZRA Management to remain in place and as yet I don' t believe any trustee, examiner or statutory committee has been appointed. This in my opinion is unacceptable http://splash247.com/ezra-chapter-11-watching-watchmen/
Octavia ( Date: 04-Apr-2017 09:50) Posted:
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Ezra holding informal meeting with noteholders on 17 Apr to update on its filing for Chapter 11 bankruptcy in the US.
For anyone interested in following the Chapter 11 proceedings, they can be found here https://cases.primeclerk.com/ezra/Home-DocketInfo. I believe application has been made for PwC to be appointed as financials advisors.
pnuklis ( Date: 03-Apr-2017 17:44) Posted:
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This is forum. Everyone is free to air their views. It's your own money. No one forces anyone to invest or wager. Do your own due d and analysis. Why complain now? This is stock market. When u entered at a price when everyone exited, just too bad. Don't cry father don't cry mother. It's seems you have been following me, thanks for it. And I am taking a screen shot at what u wrote. Watch out.
If can't afford to lose, leave this stock market go to fish market. U have to learn to lose before u know how to win. That's it for me. Don't waste my time again.
Do find my other posts ok Noble, RPG, Loyz. For those who wrote to me personally, I have suggested chasen, Lorenzo, courts (when they are 30s).
I think u need to see a doctor. Seek help before it is too late. My suggestion your decision.
If can't afford to lose, leave this stock market go to fish market. U have to learn to lose before u know how to win. That's it for me. Don't waste my time again.
Do find my other posts ok Noble, RPG, Loyz. For those who wrote to me personally, I have suggested chasen, Lorenzo, courts (when they are 30s).
I think u need to see a doctor. Seek help before it is too late. My suggestion your decision.
anthonykwong ( Date: 03-Apr-2017 18:35) Posted:
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■ FOR THOSE WHO LISTENED TO shi-t u ....full of s h i t , induced and vested , and now get stucked in Ezra , WHO TO BLAME ?
Will sh-it u ......compensate your losses for his S H I T advice ? ■
Now sh-it u is trying with yuuzoo....
Will sh-it u ......compensate your losses for his S H I T advice ? ■
Now sh-it u is trying with yuuzoo....
Shifu8888 ( Date: 28-Feb-2017 10:09) Posted:
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Why Ezra/Emas/Chiyoda AMC/Triyards are so quite and wonder what is going on there. Are they still alive and kicking? Banks must be really angry on them for C11 by which they have kept all lenders at arms distance schielded. Next time if KS or LL want to raise one sigle cent from banks they will show the door.
O cmon. You expect all of his calls to be 100% zhun?
joedenver39 ( Date: 31-Mar-2017 11:29) Posted:
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Dealing with the fallout from EMAS and Ezra&rsquo s Chapter 11 filing http://splash247.com/dealing-fallout-emas-ezras-chapter-11-filing/
EMAS Offshore fails to meet Seabird&rsquo s demands for millions http://splash247.com/emas-offshore-fails-meet-seabirds-demands-millions/
http://donovan-ang.blogspot.sg/search/label/Nam%20Cheong
Sorry hor, facts are facts.
People here can see how good he is..
His Nam Cheong call also one post one kill( to horland).
I am just posting facts here so people with eyes can see if he is really that good.
Just a reminder to everyone here don' t just look at the positive side.
And when someone post with such arrogance, better take his word for a pinch of salt.