Ezion Holdings

The cashflow from operating activities increased by 3m as compared to last Q . Market  reacting positively to the 2Q result since opening bell .

BUY; TP reduced to S$ 0.21
based on a lower target multiple of1.0x on FY18 book value
(vs 1.4x previously), given the slower

https://s3-ap-southeast-1.amazonaws.com/...1533949508

The losses doesn't seem to be getting better in the 3rd Q result . Reasons given by the management were the same . Most of the assets are not really generating decent revenues .

I am very curious to how the optimistic Mr Chew keeps pushing back the expected deployment of lifeboats. The expected timeline of full deployment is now end 2019, from the previous timeline of end 2018 which was said in Oct 2017.

Revenue wise, it only improved by a 20%. What has baffled me is how the company is still facing working capital constraints by citing that the secured bank financing is not finalised, despite the company announcing it has been agreed on 2 July 2018 and even paying the banks in shares already for the refinancing.

If shareholders can sue anyone for not meeting their timeline, i think Ezion is a prime candidate to make money from Mr chew

(08-11-2018, 10:29 AM)CY09 Wrote: I am very curious to how the optimistic Mr Chew keeps pushing back the expected deployment of lifeboats. The expected timeline of full deployment is end 2019.

Revenue wise, it only improved by a 20%. What has baffled me is how the company is still facing working capital constraints by citing that the secured bank financing is not finalised,  despite the company announcing it has been agreed on 2 July 2018 and even paying the banks in shares already for the refinancing.

If shareholders can sue anyone for not meeting their timeline, i think Ezion is a prime candidate to make money from Mr chew

"" In view of the increased demand from customers, the Group has also taken delivery of an additional unit of

Liftboat. """

It seems Chew is contradicting what he said , if the demand has increased , why the deployment is pushed back ?

Taking a closer look , Q on Q , financial of 3Q is better than 2Q.
3Q has higher revenues ,  lower losses because 2Q has a net Other income of 21m.
FC has remained almost the same as 2Q.

(08-11-2018, 10:29 AM)CY09 Wrote: I am very curious to how the optimistic Mr Chew keeps pushing back the expected deployment of lifeboats. The expected timeline of full deployment is now end 2019, from the previous timeline of end 2018 which was said in Oct 2017.

Revenue wise, it only improved by a 20%. What has baffled me is how the company is still facing working capital constraints by citing that the secured bank financing is not finalised,  despite the company announcing it has been agreed on 2 July 2018 and even paying the banks in shares already for the refinancing.

If shareholders can sue anyone for not meeting their timeline, i think Ezion is a prime candidate to make money from Mr chew

Hi CY09 ,  The company is still facing working capital constraints could be due to this reason , which the management had mentioned in their 3Q results ???

'''' Updates on Refinancing Exercise
On 3 July 2018, the Group had entered into loan agreements with all the secured lenders pursuant to the refinancing exercise. Upon the execution of the security documents in relation to the loan agreements for all the secured lenders which is expected to be completed by end of 2018, the refinancing exercise would be deemed completed. ""

(09-11-2018, 01:45 PM)tonylim Wrote:

(08-11-2018, 10:29 AM)CY09 Wrote: I am very curious to how the optimistic Mr Chew keeps pushing back the expected deployment of lifeboats. The expected timeline of full deployment is now end 2019, from the previous timeline of end 2018 which was said in Oct 2017.

Revenue wise, it only improved by a 20%. What has baffled me is how the company is still facing working capital constraints by citing that the secured bank financing is not finalised,  despite the company announcing it has been agreed on 2 July 2018 and even paying the banks in shares already for the refinancing.

If shareholders can sue anyone for not meeting their timeline, i think Ezion is a prime candidate to make money from Mr chew

Hi CY09 ,  The company is still facing working capital constraints could be due to this reason , which the management had mentioned in their 3Q results ???

'''' Updates on Refinancing Exercise
On 3 July 2018, the Group had entered into loan agreements with all the secured lenders pursuant to the refinancing exercise. Upon the execution of the security documents in relation to the loan agreements for all the secured lenders which is expected to be completed by end of 2018, the refinancing exercise would be deemed completed. ""

Is it the standard practice for the banks to release the funds , only when the refinancing exercise is complete ? Any Buddy here can help to enlighten , thanks.

https://links.sgx.com/FileOpen/Ezion_Ann...eID=542640

Asdew has been issued 20,223,469 new ordinary shares for a total amount of US$4,147,364.73 (or equivalent to approximately S$5,587,744.50) was satisfied by way of offset against the outstanding amount due from the Company to the Subscriber.

I am quite surprised that Asdew subscribed because it is quite a big cut as compared to the current market price of 5.2 cents, and that there was an outstanding amount due to Asdew by Ezion

yeah wow what a favor!