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First Ship Lease Trust
28-11-2018, 03:34 PM.
Post: #431
RE: First Ship Lease Trust
Hi gaudente,

Please refrain such harsh language without concrete evidence.

<in moderator capacity >

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09-12-2018, 05:17 PM.
Post: #432
RE: First Ship Lease Trust
without concrete evidence ? After ALL S-shares bankrupted , ALL high yield corporate bonds defaulted , many REITs and trust more than halved in value , Noble and Hyflux bankrupted what more evidence do you need ?

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09-12-2018, 06:20 PM.
Post: #433
RE: First Ship Lease Trust
Hi gaudente

We value evidence which is derived from balance sheet, cash flow or p&l. Correlations evidence is not strong and is discriminatory

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09-12-2018, 10:06 PM.
Post: #434
RE: First Ship Lease Trust
When an offer is pro rata, there is no dilution effect. It is only when existing unit/shareholder decided not to take up their shares/units that they are being diluted. Huge discount to last trading price not nav basically mean they r pointing a knife to you to take up or diluted

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10-12-2018, 08:38 AM.
Post: #435
RE: First Ship Lease Trust
(09-12-2018, 10:06 PM)donmihaihai Wrote: When an offer is pro rata, there is no dilution effect. It is only when existing unit/shareholder decided not to take up their shares/units that they are being diluted. Huge discount to last trading price not nav basically mean they r pointing a knife to you to take up or diluted

Largely agree though there is still a degree of dilution because of convertible bonds.

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20-02-2019, 09:00 PM. (This post was last modified: 20-02-2019, 09:01 PM by CY09.)
Post: #436
RE: First Ship Lease Trust
FSL has announced its full year results.

https://links.sgx.com/FileOpen/20190220_...eID=544286

A few takeaways:

I) it is confirmed that the secured loans at of a slightly higher margin than old set of loans (4.012% above LIBOR) approximately 6.7% per annum interest
ii) Cashflow generated from operations has deproved again. Now down to 40 million per year.


Based on its total secured loan of US$97 million, it seems FSL is going to take until 2022 to repay it. On top of it, there is a convertible bond it has to deal with. It looks unitholders will have to wait till 2024 to reap the benefits of the company based on its existing ship portfolio and cashflow analysis

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