Chitchat Shipping Trust That Lured Sinkies With High Dividends Finally Up The Lorry!

[JohnTan]

[SINGAPORE] Rickmers Maritime, a Singapore-listed trust that operates container ships, said it would be wound up after it was unable to reach an agreement with its lenders to restructure its debt or raise new equity.

Rickmers said its failure to repay some debt obligations and various breaches in loan covenants cast material uncertainties on its ability to continue as a going concern.

"This situation places the trust in a situation of aggravated and unsustainable illiquidity going forward," it said in a statement on Wednesday.

The trust had flagged the going concern risk last year.

http://www.businesstimes.com.sg/com...d-up-after-failing-to-reach-deal-with-lenders

 

[mojito]

Reminds me somethings about fools and money.

 

[desmondquek]

If it sounds too good to be true, it probably is

 

[halsey02]

Reminds me somethings about fools and money.

Never mind about the " fools & their money part"...more about the fools who voted for!, whose money have departed. Did "them are sick" & Gosh I Came" invested in Rickmars??

 

[Pinkieslut]

Anyone interested to invest in Funeral Service Fund? Thinking of starting one. Many Sinkies will be up lorry soon in the next 10 years due to both natural and unnatural causes.