*Official* Ezion Holdings

RexxarLoh

RexxarLoh

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Some-one

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RexxarLoh said:
The article link seemed to be broken at this time which I tried to enter.


Haiz........ my money gone liao.
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TROUBLED liftboat operator Ezion Holdings will be proceeding to wind up as it could not find a potential investor with a proposal that can secure enough support from its major creditors, it said in a bourse filing on Thursday (Dec 30).

Since an investment plan lapsed in September last year, the company had been trying to restructure via its disposal plans, and talking to potential investors to recapitalise the group or realise the value of its listed status.

But on Thursday, Ezion said in a status update that the company, after speaking to several potential investors, will not continue with its restructuring and recapitalisation efforts given that it does not have continued support from its secured creditors.


It then identified winding up the company as the next step if it were to act in the best interest of its creditors, since it could not pay its debts and is cashflow insolvent.

Liquidating Ezion would ensure "an orderly wind down of the affairs of the company" under the control of a court-appointed liquidator, it said, adding that the move is also "the most time-efficient and cost-effective manner" to realise value from the remaining assets of the company.

Trading of Ezion shares had been suspended since early 2019.
 
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starbugs

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I already mentally wrote off my investment in this two years ago. I am surprised that some of you still think you can get anything back.
 
RexxarLoh

RexxarLoh

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starbugs said:
I already mentally wrote off my investment in this two years ago. I am surprised that some of you still think you can get anything back.
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I was hoping it might come back. Since oil price do go up at times. Anyway we have no choice but to write it off.
 
andyhtc

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Ezion Holdings files winding up application​

FRI, JAN 28, 2022 - 8:21 PM

BELEAGUERED liftboat operator Ezion Holdings has filed a winding up application for the company to be placed into liquidation.

In a filing to the Singapore Exchange on Friday (Jan 28), the company said that despite its efforts to restructure the group and search for an investor to recapitalise the firm, it has run into difficulties procuring investment proposals from the potential investors that are able to garner the support of its major creditors.

Amid challenging market conditions and the company's current financial position, Ezion said its key operating subsidiaries are no longer able to remain operationally viable as a going concern without receiving working capital.

Ezion said it will make the necessary announcements as and when there are further developments, including the hearing date or any orders of the High Court.

https://www.businesstimes.com.sg/companies-markets/ezion-holdings-files-winding-up-application
 
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