Swissco Holdings

[CY09]

http://infopub.sgx.com/FileOpen/SwisscoA...eID=429547

This is why in the current O&G climate, balance sheet is getting irrelevant.

Overnight, Swissco decides to make real impairments and from a + NAV to company is now in negative NAV. What the true danger is that it is still burning cash and now has borrowings roughly equal to all of its assets value

Ezra is another candidate which I believe is in negative equity. They have delayed releasing their full year results, until these O&G companies declare their true worth and restructure; things are still going to be worse, especially with President-Elect trump's energy policy

You heard it here first!

[money]

This is truly good game. For the past few years, i have never bothered taking a look at any of these O&G related companies because i dont like the idea of taking up large loans to buy rigs, buy vessels, etc. Even when looking at keppel corp and semb marine during the good times, i keep asking myself if their earnings are sustainable. Thankfully i was hesitant and i avoided this sector totally. My only short punts in this sector for the past few years were PEC and exxon mobil, both of which i was lucky to come of with some gains

[BlueKelah]

This is truly good game. For the past few years, i have never bothered taking a look at any of these O&G related companies because i dont like the idea of taking up large loans to buy rigs, buy vessels, etc. Even when looking at keppel corp and semb marine during the good times, i keep asking myself if their earnings are sustainable. Thankfully i was hesitant and i avoided this sector totally. My only short punts in this sector for the past few years were PEC and exxon mobil, both of which i was lucky to come of with some gains

@ money : Yup it pays to follow the "money" doesn't it?

[cyclone]

Applications to be Placed Under Judicial Management and Interim Judicial Management

Swissco Holdings Limited wishes to announce that the Company and its wholly-owned subsidiary Swissco Offshore (Pte) Ltd have filed applications in the High Court of the Republic of Singapore on 21 November 2016 for orders that they be placed under judicial management pursuant to section 227B of the companies Act (Cap. 50), as well as for orders that interim judicial managers be appointed pending the hearings of the JM Applications.