EMS Energy

[BeDisciplined]

After reverse takeover of Eco water and divestment of Eco Water, its core oil & gas industry engineering and service seems to be doing quite well. Any thoughts or comments to share? Thanks

[brattzz]

It's game over too, Halt change to SUSPENDED.

High court filing on monday!

http://infopub.sgx.com/FileOpen/EMS-Ann-...eID=422401

[Triple70]

This is a news article from 2015.

http://www.straitstimes.com/business/com...and-shares

Did the controlling stakeholder already cashed out?

[Debronic]

This is a news article from 2015.

http://www.straitstimes.com/business/com...and-shares

Did the controlling stakeholder already cashed out?

He didn't. Ting, the ultimate controlling shareholder injected his Koastal business, which had been holding the EMS shares, into the company in exchange for more shares in not so straight forward deal. Although cash portion was $31 mil, this cash was net off against considerations paid by Ting to Koastal (and hence EMS) for transfer of original EMS shares, Nosco Vinalines shipyard and some outstanding loans owed by Ting and his wife to Koastal. To cut the long story short, Ting is still very much vested in EMS.  

In any case, with $38 mil in loans due in less than a year and a struggling business, it was always going to be a uphill battle.