MTQ Corporation

[lilvestor]

I dont understand Mr Kuah Kok Kim comment "I have never seen such a bad market in all my years in the industry." saying that now is worse than 1998 when oil price was at US$10.

Is it because O&G giants overinvested in capex in past few years, that why the situation is worse now?

I think he meant to say that there was overinvestment in capex in the last few years, so there was a "growth overdraft", capex will have to shrink in the next few years, maybe even the next decade or so before oil prices will go up again.

Mr Kuah is being candid by sounding pessimistic, everyone knows that good times arent coming back soon, so there is no point in putting up a front.