29-07-2017, 05:17 PM
(This post was last modified: 29-07-2017, 05:17 PM by CY09.
Edit Reason: edits
)
One of the main reason why SCM has not resorted to a rights issue is because it has been able to tap on the "good relationship" it has with bankers to borrow more during this downturn. SCM's borrowings has increased by 8% over the past 6 months or 10% year on year.
So while we think that banks are exerting pressure on smaller O&G counters like Nam Cheong etc, (Local) banks seem to be "willing" to lend more to SCM to tide it over this cycle of down trough.
So while we think that banks are exerting pressure on smaller O&G counters like Nam Cheong etc, (Local) banks seem to be "willing" to lend more to SCM to tide it over this cycle of down trough.