Acesian Partners

[rijk]

Acesian Partners (5fw) looks cheap at mc 6m, tbv 14 m, ncav 12m, net cash 5m

looks like they almost blew up in 2009 due to a china adventure, break even cum earnings since 2005 ipo

there doesn't seem to be a thread on this company

[soros]

Posted on 13 Jan 2017 by Acesian Partners.

The Board of Directors (the "Board") of Acesian Partners Limited (the “Company”) refers to
its announcements dated 9 November 2016 and 2 December 2016 regarding the application
filed by its wholly-owned subsidiary, Acesian Star (S) Pte Ltd ("ASPL”) in the High Court of
the Republic of Singapore for an order that ASPL be placed under judicial management
pursuant to Section 277B of the Companies Act (Cap. 50).

The Board wishes to notify that pursuant to the directions of the Honourable Judicial
Commissioner Aedit Abdullah at the Judge Pre-trial Conference on 28 December 2016,
ASPL and the purported creditors, namely Takenaka Corporation, See Ho Pte Ltd, LSL
Engineering Pte Ltd, XYLM Engineering Pte Ltd, YES Air-Cond Engrg Pte Ltd, Pro-Flex
Engineering Pte Ltd and Presico Engineering Pte Ltd reached an agreement to appoint Mr
Tam Chee Chong and Mr Lim Loo Khoon of Deloitte & Touche LLP as judicial managers in
the event that ASPL is placed in judicial management.
The Company will provide further updates as may be appropriate

[soros]

Judicial Management
A brief overview

The main aim of Judicial Management is to allow a financially distressed company to
be returned to financial health with the supervision of the Singapore Courts. This is
done by placing the company under the management of a court-appointed officer
and by implementing a moratorium against all claims made by creditors.

[rijk]

thanks soros, just noticed this announcement, so looks like this is the equivalent of a us chapter 11 bankruptcy?

[specuvestor]

^^ Some salient difference between the 2

https://www.valuebuddies.com/thread-1416...#pid132081