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To precisely describe Ezion current state, one can relate it to a person in final stage of cancer bearing a 3 months life. It is trying hard to hold his last breath by using some booster but ultimately cannot escape from death. You can see from the past years from his attempt to find white knight, try to obtain fundings, disposed off its vessels and stuff like that. But ultimately, it will be gone. I will be seriously surprised if it manages to turn the tide at this rate. Cheers.
Their situation is unsustainable they will declare bankruptcy shortly. Mark my words...
Project Hvnt start kena cancelled alrdy. Like that how to even bid for other projects.
Even if they manage to sell more assets and survive, they will be left with an empty shell with no vehicles to generate cash-flow. Mismanagement the last 10 years has brought them to this point and unfortunately this is not going to change.
Honestly no.
I hope Ezion survives by selling more vessel to Mermaid.
I hope Ezion survives by selling more vessel to Mermaid.
Stocky901 ( Date: 29-Oct-2021 11:25) Posted:
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These are the same guys who bought seven junk drilling assets at the height of the market naively thinking they would become international drilling contractors overnight, only to sell them for scrap five years later. Impressive strategy and vision. Where do you think the 1.5B$ debt comes from ?
You long term stuckists? 🤐 🤐
ttbanthony ( Date: 28-Oct-2021 20:30) Posted:
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with oil rising, they should be able to get more contracts and show the banks they can still carry on the business as previously, maybe TH should help out with more investments since it is not nice to lose their investments publicly if indeed ezion is gone case. alternatively get a new mgmt to manage eg Keppel or sembmarine or place it under Keppel and sembmarine care
TraderBen ( Date: 29-Oct-2021 10:53) Posted:
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even kris energy so big also have to write off.. when things cannt be revived.. have to let go..
honesty ( Date: 29-Oct-2021 10:51) Posted:
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Temasek has investment in Ezion if i remember correctly, so Temasek willing to write off their large investments?
TraderBen ( Date: 29-Oct-2021 10:42) Posted:
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most of their investments also 0 value ones.. sell also no use..
XYInvestor ( Date: 29-Oct-2021 10:41) Posted:
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Yinson are long gone and so are the others. They looked at the books, the assets, the prospects and the management and it didn' t take them long to pull out. They did the right thing. Resume trading isn' t an option either they will go to zero within the first hour. They should sell whatever is still of value, return the money to the banks and go home. Unfortunately, that' s the only option.
gone case. just write it off. don' t waste time
After selling most of their assets and still not being able to pay their debts. What can they do? Yision doesn?t seem to want them anymore also
Great to see some of you are still optimists (but probably not very realistic). Which white knight would possibly invest in a company like this. Everything will come down after the first day of due diligence, alike previous attempts.
大 难 不 死 ， 必 有 后 福 。
Ezion will survive
Followed by Ezra.
This energy crisis will last into 2022 and worsening towards the. End of 2022.
Ezion will survive
Followed by Ezra.
This energy crisis will last into 2022 and worsening towards the. End of 2022.
hyflux took 2 years and failed to get a white knight albeit been given 10times extension then, the final nail to the coffin
hopefully ezion and pacific radiance could expedite and find someone interested in this industry and not drag on, no time to pick and choose, if need to give up directorship or ownership or family business, just do it and be employed by whoever the white knight and revamp strategies with the white knight.
now is neither here nor there, as menntioned, if open up and tell shareholders need to have right issues and propose collective strategies with the white knight, now is the time with oil price rising and will move up more next year
hope white knights can come in to beneift the oil run up
hopefully ezion and pacific radiance could expedite and find someone interested in this industry and not drag on, no time to pick and choose, if need to give up directorship or ownership or family business, just do it and be employed by whoever the white knight and revamp strategies with the white knight.
now is neither here nor there, as menntioned, if open up and tell shareholders need to have right issues and propose collective strategies with the white knight, now is the time with oil price rising and will move up more next year
hope white knights can come in to beneift the oil run up
ksangks ( Date: 28-Oct-2021 19:45) Posted:
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Understand They are looking for a white knight to be a major shareholder , be patient !
least mgnt should do lift trading and let it go to zero cent if shareholders are not supporting, if they are proactive, have regular updates to provide confidence to current shareholders and issue another rights since oil will go up next year and the company could get more jobs, same goes to the family business Pacific Radiance
show their actions and many shareholders would be happy to support more rights issues to help the companies
show their actions and many shareholders would be happy to support more rights issues to help the companies
XYInvestor ( Date: 28-Oct-2021 12:03) Posted:
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Gents, you are wasting your time 5ME are a lost cause. Considering their debt, assets, strategy and quality of the management, this company will never be able to recover. We have written them off. Even with a high oil price, it will be very difficult for them to secure work for their assets, there are better and less risky alternatives available on the market for customers in need of offshore support services.