Chitchat PAP Poster Boy Ex NMP Teo Siong Seng PIL Is Face Great Debt Problems

[JurongEast]

PIL takes to WeChat to refute bankruptcy rumours

Amid bankruptcy chatter swirling around China, Pacific International Lines (PIL), the world’s tenth largest container carrier, took to Chinese social media site WeChat on Friday to dismiss “internet reports” on its financial health.

In a letter seen by Splash, PIL management writes: “Claims from several internet reports that the company is going to apply for bankruptcy are fake information and have severely damaged the company’s reputation and the company will reserve the right to take legal actions.”

 

[nayr69sg]

If I am not wrong the floating dorms are his.

 

[SalahParking]

what's wrong with these people. hahaha

if PIL is not going bankrupt, just ignore lah.

 

[congo9]

If you can get bankrupted for owing 2.6 billion in your life time, i think you are actually very successful.

Rest assured if you able to owe such an amount of money, i am sure you have siphoned enough money somewhere to last your a whole life time. Even if you are being bankrupted, i am sure you can enjoy for the rest of the life.

hahaha.

 

[no_faith]

Temasick did not bail out apl
Dont think temasick will bail pil

 

[JurongEast]

Who will die first if PIL bankrupt or forced to be sold to another company?
In this photo, who will cry first?

 

[Blazars]

This company haven't even reach 3rd generation yet.

 

[JurongEast]

PIL among boxship operators in rough seas as Covid-19 turns off cash flow

 

[gingerlyn]

Pacific International Lines in rescue talks with Temasek unit
SINGAPORE (REUTERS) - Singapore-based container ship operator Pacific International Lines (PIL) has agreed with most of its financial lenders to defer debt payments and is in talks with a unit of Singapore state investor Temasek Holdings for a potential investment.

PIL said in a statement on Tuesday (May 25) that it had made significant progress in cutting asset costs due to the challenges the sector has been facing but the coronavirus pandemic had made matters worse over the past month.

"Due to the situation, the company had commenced discussions with 15 of its financial lenders with a view to concluding a formal agreement concerning a debt-reprofiling plan with these stakeholders," the privately held firm said.


Years of overcapacity, low freight rates and global trade tensions have been impacting the industry.

PIL, the world's 10th largest container ship operator, said it had obtained in-principle approval of financial lenders, who represented about 97.6 per cent of its total debt, to defer principal and interest payments until Dec 31, 2020.

It added that it was in talks with the other lenders to obtain similar approval.



PIL also said it had entered into a six-month exclusive agreement with Heliconia Capital Management, a fully-owned subsidiary of Temasek, regarding a potential investment.


PIL, which is being advised by Evercore Asia (Singapore) Pte Ltd on its strategic and capital raising plans, said it is currently in early negotiations with Heliconia.

Heliconia confirmed it was in talks with PIL but declined further comment.

 

[gingerlyn]

 

[gingerlyn]

Temasick did not bail out apl
Dont think temasick will bail pil

Your prediction is incorrect.
Maybe SS Teo has secret medicine for Temasek boards!!!

 

[gingerlyn]

Temasek unit leading consortium to rescue PIL

Struggling container line in exclusive, preliminary talks with Heliconia for a potential investment; however there is no certainty that a deal will be struck, says PIL

A CONSORTIUM of investors led by Heliconia Capital Management, the investment firm owned by Temasek Holdings, may soon come to the rescue of struggling Singapore boxship operator Pacific International Lines (PIL).

PIL, which is struggling to stay current on its charter payments and has been divesting assets to shore up cash, confirmed on Tuesday that it is in exclusive talks with Heliconia for a potential investment.

Negotiations are at a preliminary stage, so the parties have yet to decide on how much cash to inject into PIL, and whether the funds will be raised by the issuance of equity, debt, convertible bonds, or a mix.


There is no certainty that a deal will be struck either, PIL said in a filing to the Singapore Exchange: "As discussions with Heliconia progress, the board will make further announcements as and when there are any material updates or developments. Until such time, neither the company or Heliconia will make further comments on this matter."

 

[gingerlyn]

Maybe he can beg Whore Jinx to buy over at premium price

Are u sure?

 

[gingerlyn]

someone should just tell some of chang's sons, he's got many btw, spend more time in the office instead of KTV every night

Please dont anyhow say. later ex NMP SS TEO POFMA u

 

[gingerlyn]

When the PR person says this, it's time to watch out.

Same pattern as that Iraqi Information Minister during the US invasion of Iraq.

The time is NOW

 

[gingerlyn]

what's wrong with these people. hahaha

if PIL is not going bankrupt, just ignore lah.

paper cannot cover fire.
you cannot cover up with lies.

 

[gingerlyn]

This company haven't even reach 3rd generation yet.

it will continue because Temasek is rich

 

[gingerlyn]

 

[Nice-Gook]

just my 2 cents from my marine logistics exposure

shipping vessels are like taxis ..in fact far more ...if the vessells is not carrying cargoes, the operating cost still runs like a meter ...only the bunkerage or fuel varries

so ,a ship cannot be idle at all ...now there is 2 major difference bulk carrier and containerised ,oil tanker are speciality...in the past all vessels were bulk carriers ,in short ,they will have holds are large empty spaces within the ship and cargoes are lowered by cranes both within and out of the ships ...whreas in a container ship ,the cargoes are stuffed into 20' or 40 ' containers and staked on the ships

the major difference is container vessels are always scheduled ,meaning on certain days on certain ports ..whreas break bulk will run here and there and van load on open sea where cargoes are brought by barges

these days most break bulk vessels are matter of the past except that carries such commodities as bitumen ,timber, cement ,coal and iron ore and etc etc

now ,so long as the vessells moves except for some difference in bunkerage the operating cost is practically the same

so ,PIL is in a situation of owning and feeding elephants so as to say ...you have to keep feeding whether utilised or not

in a situation like this Corono19 ,shipping are natural casualties

 

[LaoTze]

Temasek unit leading consortium to rescue PIL

Struggling container line in exclusive, preliminary talks with Heliconia for a potential investment; however there is no certainty that a deal will be struck, says PIL

A CONSORTIUM of investors led by Heliconia Capital Management, the investment firm owned by Temasek Holdings, may soon come to the rescue of struggling Singapore boxship operator Pacific International Lines (PIL).

PIL, which is struggling to stay current on its charter payments and has been divesting assets to shore up cash, confirmed on Tuesday that it is in exclusive talks with Heliconia for a potential investment.

Negotiations are at a preliminary stage, so the parties have yet to decide on how much cash to inject into PIL, and whether the funds will be raised by the issuance of equity, debt, convertible bonds, or a mix.


There is no certainty that a deal will be struck either, PIL said in a filing to the Singapore Exchange: "As discussions with Heliconia progress, the board will make further announcements as and when there are any material updates or developments. Until such time, neither the company or Heliconia will make further comments on this matter."

WE ALL MUST PRAY HARDER AND HARDER



WE ALL NOW PRAYING AND PRAYING AND PRAYING

NEXT CLUSTERS WILL BE CENTERED WITH PAP MAGGOTS AND MAGGOTESS

AND ANOTHER CLUSTERS WITH THE ROTTEN PEOPLES ASSOCIATION AND RC MEMBERS
AND YET ANOTHER CLUSTERS WITH PAPER GENERALS LINKED OR UNLINKED TOTALLY IRRELEVANT TO US ALL

AS LONG AS THOSE MAGGOTS MAGGOTESS KENNA WUHANED

EVEN BETTER WILL BE THEY ALL HUM KAR CHANG





LET THEM GATHER
MORE KENNA WUHANDED THE MORE LIKELY THAT GET BACK TO MAGGOTS MAGGOTESS IN WHITE AND THEIR ENTIRE FAMILIES
AND THEIR KANGAROOS AND PAPER GENERALS AND CRONIES AND BROWN NOSERS
ALL HUM KAR CHAN

MAGGOTS MAGGOTESS AND THEIR CRONIES AND PAPER GENERALS AND SONS AND DAUGHTERS WILL ALSO DIE
MAY THEY ALL DIE BEFORE US , OR WITH US
AND STINKAPORE WILL BECOME SINGAPORE ONCE AGAIN


SPREAD WIDELY
UNTIL IT GET TO THE MAIDS AND SONS AND DAUGHTERS AND STAFF OF MAGGOTS MAGGOTESS IN WHITE
UNTIL ALL THOSE OLD MAGGOTS MAGGOTESS KENA WUHANDED
AND TOGETHER WITH YOUNG MAGGOTS MAGGOTESS AND ALL IN THE FUCKING PA AND KANGAROOS AND POODLES
WUHAN WILL DELIVER US ALL FROM THE FUCKING MAGGOTS MAGGOTESS IN WHITE FINALLY
MAGGOTS MAGGOTESS KANGAROOS CANNOT FIX WUHAN THE WAY THEY CAN FIX ELECTED PRESIDENT AND OTHER SHIT THINGS THAT THEY CAN FIX
WUHAN WILL FIX THEM INSTEAD