29 May '16, 3am

Falling knife for EZRA investors?: One of the victims of the global oil crisis, EZRA Holdings announced a set of…

One of the victims of the global oil crisis, EZRA Holdings announced a set of terrible 2nd quarter financial results on 14 April 2016. Losses after tax came in at USD282.6 million for 2nd quarter and USD336.4 million for the first half of the financial year. This is a massive financial loss and there are not many companies in Singapore which can withstand this sort of impact. If EZRA investors are thinking of dollar-cost averaging and buying EZRA shares on the cheap, they need to be careful of catching a falling knife. The company is actually biting the bullet for 2QFY2016 and realized the impairment losses from all front – loss-making joint ventures, losses on fixed assets and bad-debts. Given the depressing market conditions for the oil and gas industry, it is still unknown whether there is any more impairment to be made for EZRA Holdings further down the road…

Full article: http://thefinance.sg/2016/05/29/falling-knife-for-ezra-in...

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