MTQ Corporation

[pianist]

Slight misinformation.  Warrant is 22 cents,  right is 20 cents.  I just recently exercised the rights

did u applied for excess rights?

[Kelvin]

Isnt it cheaper to buy the shares now

Sent from my SM-G930F using Tapatalk

[pianist]

Isnt it cheaper to buy the shares now

Sent from my SM-G930F using Tapatalk

seems to be the case

[tonylim]

-Strengthened financial position with completion of Rights cum Warrants
exercise
-Modest improvement at bottom-line excluding impairment charges, with
reduced losses at Oilfield Engineering mostly offset by higher losses from
Neptune
-Non-cash impairment charges amounting to S$11.8 million

Singapore, 14 May 2018 – SGX Mainboard-listed MTQ Corporation Limited (“MTQ” or
“Group”), an established regional engineering, maintenance and subsea services group,
reported today its results for the three months and twelve months ended 31 March 2018
(“4QFY2018” and “FY2018” respectively).

http://infopub.sgx.com/FileOpen/MTQ_4Q18...eID=505504

[brattzz]

Results & outlook
Commenting on the results and outlook, Mr Kuah Boon Wee, Group Chief Executive Officer
said,

“The past year has continued to be tough. Our Oilfield Engineering segment showed
progress and recorded a positive EBITDA for the full year in line with the improving
market sentiments in the region. On the other hand, general activity surrounding the
Neptune segment continued to remain slow and this has weakened the Group’s overall
operating results and cash flows.

We are pleased that the MTQ Rights cum Warrants Issue has been successfully
completed in April 2018 and are grateful for our shareholders’ support in this exercise.
With the Group now in a net cash position, the Group can work positively towards
improving its results in the upcoming year. We will also explore options to reposition
loss making units for better markets. Recent market sentiment in the Oilfield
Engineering Division is encouraging and our stronger financial position will enable us
to take advantage of opportunities ahead.”

[Stocker]

Looks like the overall losses could be reduced soon .

[CY09]

Negating the write offs, MTQ is still in the red for Q4.

This even trickles down to its cash flow where for the latest quarter itself, its business is still burning cash. With the $12.0 million in cash raised from its rights, hopefully, MTQ can put it to good use by paying down its debts quickly. With a total cash reserves of approximately s$22 million, MTQ can survive its cash burning ways for another 2 years. The worst is probably over and hopefully this means MTQ can start turning in small profits.

<vested hoping for a turnaround>

[Stocker]

Price trading at 50% discount to NAV , good margin of safety if no further huge imparement . Poor liquidity is the drawback.

[tonylim]

Some buying interest lately, higher oil price should speed up its business recovery.

[cfa]

Chairman Kuah bought 20,000 shares on 12 June .

http://infopub.sgx.com/Apps?A=COW_CorpAn...968758d53c