Ezra Holdings

http://infopub.sgx.com/FileOpen/Ezra%20-...eID=443787

Chapter 11 has been filed in the US.

As if the company going belly up isnt bad enough.
They HAD to announce it on a Sunday to spoil what's left of the shareholder / Bond holders' weekend.
Well played Ezra...

https://www.bloomberg.com/news/articles/...rs-faceoff

Well this has become swiber 2.0.hope none of vb got caught in this one.

The blood on the street has started earnestly now. Marco Polo and ezion next on chopping board?

Oil price is not going=up anytime soon, about time local banks made the call.

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While I was looking at their past year earnings, I sensed that their depreciation was 'not enough'. Hence negative cashflows while earnings are 'positive'. So when oil and gas market got hit, their 'positive' earnings became huge losses.

When the tides are down, you get to see who has been swimming naked.

Looks like LL run road already before bankruptcy? Using derivatives to avoid disclosure rules?

Can only guess the real intentions, but actions speak loud. Seems to be really successful in off loading first to Chiyoda, then to NYK, then whoever sold the put option.

Hope not so much of these incidents happen.. Singapore has a reputation to protect and this gives a bad name to Singaporean businesses. Foreign investors may think twice about coming in in the future. If SG companies start to develop reputation like S-chips...

http://infopub.sgx.com/FileOpen/_eFORM1V...eID=444656

wow interesting piece of news, Credit Suisse ends up paying Lionel Lee 16 cents per share for 73.6 mil shares.

That is more than the market value of Lionel Lee's stake in Ezra. Lionel Lee really makes a shrewd businessman. First NYK, now credit Suisse

(25-03-2017, 12:02 PM)slowandsteady Wrote: Looks like LL run road already before bankruptcy? Using derivatives to avoid disclosure rules?

Can only guess the real intentions, but actions speak loud. Seems to be really successful in off loading first to Chiyoda, then to NYK, then whoever sold the put option.

Hope not so much of these incidents happen.. Singapore has a reputation to protect and this gives a bad name to Singaporean businesses. Foreign investors may think twice about coming in in the future. If SG companies start to develop reputation like S-chips...

http://infopub.sgx.com/FileOpen/_eFORM1V...eID=444656

If he did anything that was not above board I am sure the authorities will be able to uncover and do something about it and we will hear about it in time, after all Ezra's bankruptcy is not a small thing, banks that provided them the loans will want to find out whats exactly happening as well.

hi VBs,
Lets be extra mindful when commenting over here. It is now still ok in my opinion but i think it can be more indirectly constructed (good example wld be CY09 post)

Unless you have sure sources of information to share, else might be better to withhold any statements that could potentially be classified as misleading.

Moderator

So Credit Suisse had the other side of the trade covered it seems. Wonder who is the other party... S$12,202,602.00 to SGD 810,260, and this is before bankers fees.

http://infopub.sgx.com/FileOpen/_EZRA%20...eID=444966

Googled "equity collar".
http://www.cboe.com/strategies/intermedi...tegy/part1

Sounds like the counter party would be the same as the earlier announcement.