Serious Sinkieland's AUTHENTIC GOLDEN ERA - Swiber Collapsed ...

lifeafter41 said:

Well on the milo tin, don't be too sure.

Share with you a funny happening.
Got a friend in Malaysia that has a habit of putting his money in these milo tin, the small type, not those 1.4kg type.
Kept at least 10 of them inside the house, under the bed.
One day the wife, while he was not in, decided to do spring cleaning in the room.
Found all these rusty tins under the bed drawers, wondering why they were there and because it was all dusty and rusty, throw all away........

Much to the horror of my friend, when the wife told him about the spring clean, jumped like jelly bean and told her there is money inside there.......
Both frantically when to the dumpster to look for it........luckily it was still there.......
Had the garbage truck came that night earlier......there goes the money.....

Told me there was RM30,000 inside the thin altogether, most in 50dollars notes........

So yeah, don't be too sure about milo tins...........

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Lol. He should locked the milo tin inside a fire proof safe box. I know some sinkie housewife nothing to do so they have habit of keeping cash inside home safe box. Free take out and count then keep back. Hubby give allowance add to it. Next count will be more and more she feel song and safe.

chootchiew said:

Lol. He should locked the milo tin inside a fire proof safe box. I know some sinkie housewife nothing to do so they have habit of keeping cash inside home safe box. Free take out and count then keep back. Hubby give allowance add to it. Next count will be more and more she feel song and safe.

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Sound like that Lim Sway Sway......every now & then count his CPF money & when his boss contribute add to it & count again....you sure not the same 'housewife"?

chootchiew said:

Lol. He should locked the milo tin inside a fire proof safe box. I know some sinkie housewife nothing to do so they have habit of keeping cash inside home safe box. Free take out and count then keep back. Hubby give allowance add to it. Next count will be more and more she feel song and safe.

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money loses its value every day,never ever keep ur networth in cash.in 20 years time that cash would be worth confetti,toilet paper.many pioneer generations do not understand this thats why they are slogging in their old age,if they invested their savings into the snp 500 back in 1974,same time as temasek holdings was born,today they will be 8800% richer.10k will become 880k,100k will become 8.8 mil....huat ah!!!!!

frenchbriefs said:

money loses its value every day,never ever keep ur networth in cash.in 20 years time that cash would be worth confetti,toilet paper.many pioneer generations do not understand this thats why they are slogging in their old age,if they invested their savings into the snp 500 back in 1974,same time as temasek holdings was born,today they will be 8800% richer.10k will become 880k,100k will become 8.8 mil....huat ah!!!!!

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If there was no CPF you can be sure that the PAP would still try to siphon $$$ from everyone's wallet.

There would still be a radio & TV licence. Maybe even a handphone licence. GST would probably be higher. So would all the other hidden taxes.

I think Swissco and Ezra will soon join Swiber to declare insolvent.

The founder of Ezra was a cab driver and his former wife was a big contributor to the growth of the company.

In 2014 Ezra former Chairman Lee Kian Soo divorced his wife Goh Gaik Choo and was ordered to pay her $56m.

lifeafter41 said:

Well on the milo tin, don't be too sure.

Share with you a funny happening.
Got a friend in Malaysia that has a habit of putting his money in these milo tin, the small type, not those 1.4kg type.
Kept at least 10 of them inside the house, under the bed.
One day the wife, while he was not in, decided to do spring cleaning in the room.
Found all these rusty tins under the bed drawers, wondering why they were there and because it was all dusty and rusty, throw all away........

Much to the horror of my friend, when the wife told him about the spring clean, jumped like jelly bean and told her there is money inside there.......
Both frantically when to the dumpster to look for it........luckily it was still there.......
Had the garbage truck came that night earlier......there goes the money.....

Told me there was RM30,000 inside the thin altogether, most in 50dollars notes........

So yeah, don't be too sure about milo tins...........

Click to expand...

Yeah, if you want to keep money in milo tins, make sure nobody (including wives, rats or cockroaches) knows where the milo tin is.

look at the company's name.

swaybo... confirm is sway like no tomorrow.

why sia?why oil price drop nia will send a company into bankruptcy?why is life so fragile and cruel?

jw5 said:

Yeah, if you want to keep money in milo tins, make sure nobody (including wives, rats or cockroaches) knows where the milo tin is.

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wat if u later 4get about it? ...

lifeafter41 said:

... when the wife told him about the spring clean ...

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he was lucky he was not in cold war @ dat time wif his wifey ...

Pinkieslut said:

... THE share price of Vallianz Holdings collapsed on Thursday morning, following shocking news that its controlling shareholder Swiber Holdings has filed to wind up and is under provisional liquidation ...

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my fren told me recently got 1 brokerage came out wif initiation repot 2 buy ... he bot sum n 2 his horror, saw dat ze selling party was dat brokerage firm ... he quikly dumped wat he bot ...

chootchiew said:

... Frankly before this saga I never heard of this company

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got 1 time, dey were darling of many ... me oso got made moni from dem b4 ...

straitstimes.com
Ezra shares fall to record low amid Swiber fallout

Bearish bets on offshore marine services provider Ezra Holdings jumped close to the highest in a year as the failure of smaller rival Swiber Holdings heightened concerns for the financial health of companies in the oil industry.

Shares of Singapore-listed Ezra plunged to the lowest level on record yesterday after Swiber said last week it had filed a winding-up petition as the collapse in crude prices led to a slump in its offshore oil and gas businesses. Swiber later dropped the liquidation plan and said it plans to restructure and operate under judicial management.

"Swiber's knock-on effect is increasing the probability of others like Ezra facing similar issues," Mr Bernard Aw, market strategist at IG Asia, said by phone. "We might see more companies coming forward saying financials have not recovered. I would now prefer to sit on the sidelines and see how it plays out."

Ezra is trying to strengthen its capital structure to weather the slump, working with an adviser to find investors for about US$100 million (S$134 million) of new stock while seeking to extend terms on more than US$100 million of loans and bonds, people with knowledge of the matter said last Friday.

Short interest as a percentage of Ezra's outstanding shares climbed to 8.3 per cent last Thursday from 5.8 per cent at the end of June and near the highest in a year, according to data from research firm IHS Markit.

It is now the most-shorted stock in Singapore behind embattled commodities trader Noble Group, and is followed by oil services company Ezion Holdings.

Ezra extended declines for a sixth trading session yesterday, falling 6 per cent to close at 4.7 cents, the lowest price since its listing in August 2003, while Ezion dropped 1.7 per cent to 29.5 cents.

"Ezra is the most similar to Swiber," said KGI Fraser Securities analyst Joel Ng. "Pressure on the stocks may lead to less support from banks and shareholders for any fund raising. It can become a vicious circle."

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