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03-02-2018, 05:03 PM
(This post was last modified: 03-02-2018, 05:04 PM by specuvestor.)
(02-02-2018, 11:55 AM)weijian Wrote: Hi CY09,
The rig that MPM had with SCM, is already sold to Borr Drilling. Isn't explicitly mentioned but the numbers add up.
https://www.valuebuddies.com/thread-1795...#pid143274
http://infopub.sgx.com/FileOpen/SCM%20Pr...eID=473339
hi holyimage,
Rather than "good connections", in some sense i think Temasek is doing national service by been a "capital provider of last resort". The local OnG industry is substantial and a critical mass needs to be sustained to maintain the ecosystem - from the upstream rig builders to the service providers (up/downstream). Previously, the Gov's help came in the form of (1) delayed implementation of foreign worker quota tightening and (2) nudge the banks to keep their credit lines open by offering co-sharing of risk.
The worst (in terms of oil price) is probably over but it is still long winter in the upstream markets. While both companies have been given a lifeline but it is not guaranteed they can survive. But it is always good to have Big Daddy behind.
but why MPM and not Ezra or Ezion etc?
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward
Think Asset-Business-Structure (ABS)
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(02-02-2018, 07:54 AM)holymage Wrote: Seems like the Marco Polo Marine guys have strong connections in the business world. Temasek is next in line, after the 9 prominent business man.
Temasek Holdings, Singapore’s state investor, is reportedly considering the acquisition of equity stakes in listed groups Marco Polo Marine and Ezion Holdings through its unit Heliconia Capital Management, according to an account by The Business Times. The transaction will apparently see Heliconia Capital purchase UOB Bank’s 10.29 per cent stake in Marco Polo, as well as injecting capital into liftboat-focused Ezion Holdings.
https://www.dealstreetasia.com/stories/h...ion-91568/
http://www.straitstimes.com/business/com...olo-marine
http://www.businesstimes.com.sg/companie...68-million
UOB sells 10.29% stake in Marco Polo Marine for S$12.68 million
UNITED Overseas Bank (UOB) on Friday evening said that it has disposed of its entire 10.29 per cent interest, comprising about 362.2 million shares, in Marco Polo Marine at a price of S$0.035 per share.
This adds up to a total consideration of about S$12.68 million.
The move comes just a week after the bank announced its acquisition of the stake in the marine logistic group - at the same price - pursuant to a court-approved refinancing and debt restructuring exercise involving the company and some of its subsidiaries.
The Business Times had earlier reported that Heliconia Capital, a Temasek Holdings-funded investment firm, was eyeing UOB's 10.29 per cent stake in Marco Polo. Analysts had also noted that UOB, a major bank lender to Marco Polo and the broader offshore and marine (O&M) sector, is not in the business of holding equity in O&M clients.
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Sean Lee's interview with Zaobao. He admitted that the crisis caught him by surprise and seems determined to turn the company around (out of obligation). Wish him well.
http://www.zaobao.com.sg/zfinance/person...204-832596
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(04-02-2018, 04:31 PM)touzi Wrote: Sean Lee's interview with Zaobao. He admitted that the crisis caught him by surprise and seems determined to turn the company around (out of obligation). Wish him well.
http://www.zaobao.com.sg/zfinance/person...204-832596
Creditors and shareholders all suffered heavy losses , but he could afford to fly to Japan with his families to do skiing in January.
“risk comes from not knowing what you’re doing.”
I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
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04-02-2018, 05:09 PM
(This post was last modified: 04-02-2018, 05:23 PM by CY09.)
I dont think the holiday has much of an issue. He probably had savings from his 6-figure annual salary earned while running MPM.
What amuses me is that if he is determined to save the company and that he was part of the team who ran MPM to the ground; he should not be offering himself a remuneration package for saving the company, which will dilute shareholder significantly (CEO and sibling remuneration package will form 8% of the enlarged share capital). The value of the remuneration package assuming 2.8 cents per share is higher than the sum of the past 5 years of fee he drew from MPM.
The actions and words of the CEO does not match and that is a red flag for any would be investors.
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The way he put it as if he volunteer to stay back to turn the company around .
“risk comes from not knowing what you’re doing.”
I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
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04-02-2018, 06:03 PM
(This post was last modified: 04-02-2018, 06:04 PM by brattzz.)
(04-02-2018, 05:35 PM)cfa Wrote: The way he put it as if he volunteer to stay back to turn the company around .
that sounds sooo familiar!! highly paid volunteer!!! hehehe! : 
was wondering what was temasick thinking when they purchase the uob's 10% of MPM....
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR!
4) In BULL, SELL-SELL-SELL!
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From the largest investor's perspective:
http://www.straitstimes.com/business/com...-in-people
I hope the Teo's decision is not influenced by Darren's friendship with Sean Lee. Darren and Sean are childhood friends and the amount the Teo's invested is small beer compared to their wealth. To me, the vote of confidence from people like Jeffrey Hng of Penguin is more important. He knows the industry and he is also putting in his own money (and from the way he runs Penguin, he must be frugal  ).
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李云峰：放弃很容易, 走下去很难
http://www.zaobao.com.sg/sme/sme-intervi...204-832596
Video in the article.
[b]马可波罗海业集团总裁李云峰30岁就当上挂牌公司总裁，但这个成就并不能保证他往后事业的一帆风顺。40岁那年，李云峰遇到人生和事业上前所未有的危机。当时摆在李云峰面前的选择有三个：第一是清盘，第二是司法管理，第三是找投资方进来。由于责任心的驱使，他选择了一条最难走的路。[/b]
即使重头来过，这一切还是避免不了，来得太急、来得太快、来得太猛、来得太凶！很多同业的长辈，八十多岁的，都说从来没有看过这种幅度的危机，太可怕了。就像很大的地震，躲不了。”
马可波罗海业（Marco Polo Marine）集团总裁李云峰（41岁）对2014年下半年油价直泻所带来的全球行业危机，下了这样一个注解。
作为一家综合海事物流集团，马可波罗海业的业务分成船厂（造船和维修）、离岸补给海工，以及拖驳船队三大部分。这家公司原本只是家族企业的配角，2003年李云峰接手后将它发扬光大，2007年在新加坡交易所挂牌，联营公司BBR于2013年在印度尼西亚上市。
30岁当上挂牌公司总裁的风光，并无法保证他往后的一帆风顺。40岁那年，李云峰遇到人生和事业前所未有的危机。
李云峰接受《联合早报》访问时说：“之前的油价是120多美元，有分析师甚至说会到200美元。供应过剩不严重，需求一直在增长。我在想，就算跌也是七八十美元，这个价位生意还可以继续，没有想过价钱会跌到20多美元。”
2015财年集团开始蒙亏。2016财年，5000万新元债券寻求延期三年，但后来还不出票息。2017财年亏损高达3亿1269万元。
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07-02-2018, 11:01 AM
(This post was last modified: 07-02-2018, 11:06 AM by mobo.)
This is not a comment on the sensibility of investing in MPM, but personally I have a huge disdain for people who screw up and then make a big moral show of how they intend to "save everyone" from the mess he/she created in the first place. Instead of apologizing for the screw up, such individuals try to spin the whole thing into a lonely hero saving mankind despite overwhelming odds narrative.
From a reputation perspective, it's a sure win bet. If he succeeds, he will be lauded as a never give up savior who turned things around. If he fails, he will be a tragic hero who went down with the flames. Seen enough of public/corporate politicians to smell this BS from a mile away.
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