Troubled Ezra granted delay for annual general meeting

Beleaguered oil and gas firm Ezra Holdings has obtained permission from the stock exchange to put off its annual general meeting (AGM) by two months.
PHOTO: Ezra Holdings

Beleaguered oil and gas firm Ezra Holdings has obtained permission from the stock exchange to put off its annual general meeting (AGM) by two months.

The extension follows a delay in the release of the mainboard-listed company's results for the financial year ended Aug 31.

The company said it needs more time to finalise its audited financial statements and annual report.

It said it will convene its AGM by Feb 28, subject to approval from the Accounting and Corporate Regulatory Authority.

Ezra sought an extension on the release as it was assessing its investment in Malaysian associate Perisai Petroleum Teknologi and the accounting impact arising from the contractor's debt restructuring.

Perisai, in which Ezra holds a 19.47 per cent stake, had defaulted on $125 million worth of Singdollar notes that came due on Oct 3. Its bondholders rejected its proposal to restructure the notes.

Perisai and its unit Perisai Capital also received a notice on Oct 18 from the trustee of the notes, notifying that the redemption amount of the notes and the interest accrued were immediately due and payable.

Perisai also said that it received a winding-up petition from a bondholder who invested $15 million into the bonds that the firm has defaulted on.

These issues raised uncertainties. Ezra said it also needed more time to consider whether to impair vessels it jointly owned with Perisai, as well as the existing contracts performed by these vessels.

chiaym@sph.com.sg


This article was first published on December 23, 2016.
Get The New Paper for more stories.

Purchase this article for republication.

VIDEOS YOU SHOULD WATCH

  • #Joeyjios: We try bubble tea mala hotpot and bubble tea toast

    Full story: http://www.asiaone.com/food/we-try-bubble-tea-mala-hotpot-and-bubble-tea-toast-guess-which-ones-got-us-hooked Mala and bubble milk tea within the same hotpot? What about bubble tea on toast? Who even comes up with these ideas?! This week on #Joeyjios, we give these dubious food creations a taste-test to see if they're worth your time, money and calories. #bubbletea #bbt #boba --- Read more: http://www.asiaone.com/ FOLLOW us on - Facebook: https://www.facebook.com/asiaonecom - Twitter: https://twitter.com/asiaonecom - Instagram: https://www.instagram.com/asiaonecom/ EMAIL: For story leads, business enquiries, contact asiaone@mm2entertainment.com
  • Thirstdays: Where we talk weird dates and wild fantasies

    Full story: https://www.asiaone.com/entertainment/thirstdays-where-we-talk-weird-dates-and-wild-fantasies Ooo, it's been a hot week and the thirst is real at AsiaOne. Join Le En and Bryan as they chat about weird dates, constant 'cravings', and Beyonce's thigh gap! And they are quenching that thirst with a cup of root beer float to celebrate the return of a certain fast food restaurant. Thirstdays is a fortnightly AsiaOne #entertainment series where our hosts Le En and Bryan give you a peek into their personal lives while they satisfy their thirst over a drink, have a no-holds-barred chat, and do fun things. #gossip #confessions #realness --- Read more: http://www.asiaone.com/ FOLLOW us on - Facebook: https://www.facebook.com/asiaonecom - Twitter: https://twitter.com/asiaonecom - Instagram: https://www.instagram.com/asiaonecom/ EMAIL: For story leads, business enquiries, contact asiaone@mm2entertainment.com
  • Don't Say Cannot Ep4: He beats people up, but for the country

    Full story: http://www.asiaone.com/singapore/dont-say-cannot-delinquent-national-wrestler He used to beat people up, simply because he had "too much energy" to expend. Now, he still beats people up - but for the country. Meet 24-year-old #Singapore national wrestler Toh Xin Ran. Seeing the number of medals that he has been awarded and the respectful manner in which he now interacts with his wrestling coach, it is hard to imagine that Xin Ran used to be a troubled kid in his younger days. #wrestling #sportsman --- Read more: http://www.asiaone.com/ FOLLOW us on - Facebook: https://www.facebook.com/asiaonecom - Twitter: https://twitter.com/asiaonecom - Instagram: https://www.instagram.com/asiaonecom/ EMAIL: For story leads, business enquiries, contact asiaone@mm2entertainment.com
  • #Joeyjios: Taste-testing The Alley Luxe and CHICHA San Chen

    Full story: https://www.asiaone.com/food/alley-luxe-and-chicha-san-chen-opens-week-heres-what-try A Michelin-standard bubble tea for $4.70? A drink that looks like the Northern Lights? This week, #Joeyjios her colleague Le En to check out two new bubble tea (BBT) stores that are opening along Orchard Road. Which will they prefer? Watch to find out. #Thedeerishere #TheAlley #Chichasanchen #Boba --- Read more: http://www.asiaone.com/ FOLLOW us on - Facebook: https://www.facebook.com/asiaonecom - Twitter: https://twitter.com/asiaonecom - Instagram: https://www.instagram.com/asiaonecom/ EMAIL: For story leads, business enquiries, contact asiaone@mm2entertainment.com
  • Office Tea Episode 5: Bosses and Things

    It’s been a few weeks - let’s find out if the higher-ups of AsiaOne have any regrets about hiring Le En. Efforts were made to make nice, charity is involved and work is never-ending still. Follow and subscribe so you won't miss a single episode of our new series, Office Tea! To catch more of her antics, follow her @goofy_feline! --- Read more: http://www.asiaone.com/ FOLLOW us on - Facebook: https://www.facebook.com/asiaonecom - Twitter: https://twitter.com/asiaonecom - Instagram: https://www.instagram.com/asiaonecom/ EMAIL: For story leads, business enquiries, contact asiaone@mm2entertainment.com
  • #Joeyjios: DIY your way into mum's heart this Mother's Day

    Full story: https://www.asiaone.com/women/joeyjios-diy-your-way-mums-heart-mothers-day Mother’s Day is this Sunday! Have you gotten mum a gift yet? This week on #Joeyjios, Joey tries her hand at DIY projects that’s thoughtful, useful and inexpensive. #Mothersday #DIY --- Read more: http://www.asiaone.com/ FOLLOW us on - Facebook: https://www.facebook.com/asiaonecom - Twitter: https://twitter.com/asiaonecom - Instagram: https://www.instagram.com/asiaonecom/ EMAIL: For story leads, business enquiries, contact asiaone@mm2entertainment.com
  • Don't Say Cannot Ep3: He 'sees' the world with the help of tech

    Full story: https://www.asiaone.com/singapore/dont-say-cannot-he-may-be-blind-he-can-text-faster-you Edwin Khoo, 43, surprises friends with the speed at which he types on his phone. The reason? He's been blind since birth. But #technology has been the game-changer for Edwin in navigating the world around him despite his #disability, allowing him to #travel and even host his own online #podcast. --- Read more: http://www.asiaone.com/ FOLLOW us on - Facebook: https://www.facebook.com/asiaonecom - Twitter: https://twitter.com/asiaonecom - Instagram: https://www.instagram.com/asiaonecom/ EMAIL: For story leads, business enquiries, contact asiaone@mm2entertainment.com
  • Office Tea Episode 4: The Dress Code

    It’s in the employee handbook - but does ANYONE actually read and follow the dress code? Are calves too scandalous? Le En puts on Athleisure and tries to get away with it! Follow and subscribe so you won't miss a single episode of our new series, Office Tea! To catch more of her antics, follow her @goofy_feline! --- Read more: http://www.asiaone.com/ FOLLOW us on - Facebook: https://www.facebook.com/asiaonecom - Twitter: https://twitter.com/asiaonecom - Instagram: https://www.instagram.com/asiaonecom/ EMAIL: For story leads, business enquiries, contact asiaone@mm2entertainment.com
  • Caryn Cheng finds the best deals at IMM's Greater Savings Home and Furnishing Sale

    Full story: https://www.asiaone.com/singapore/5-couples-share-most-expensive-items-they-have-ever-bought-their-home AsiaOne challenges Caryn Cheng to find the best deals at the upcoming #IMM Greater Savings Home and Furnishing #Sale. IMM's Greater Savings Home & Furnishing Sale will start May 13 to 19. With 20 per cent off storewide at Best Denki and discounts of up to 50 per cent at stores such as INKAGU Outlet by Picket & Rail, Linen Gallery Outlet and Red Apple from May 17 to 19, this epic sale is not to be missed. Address: 2 Jurong East Street 21, Singapore 609601 Opening hours: 10am to 10pm #brandedcontent --- Read more: http://www.asiaone.com/ FOLLOW us on - Facebook: https://www.facebook.com/asiaonecom - Twitter: https://twitter.com/asiaonecom - Instagram: https://www.instagram.com/asiaonecom/ EMAIL: For story leads, business enquiries, contact asiaone@mm2entertainment.com
  • #Joeyjios: I try a ballet-inspired workout despite my two left feet

    Full story: https://www.asiaone.com/singapore/joeyjios-i-try-ballet-inspired-workout-despite-my-two-left-feet Tendu, Arabesque and Grand Pliés? This week on #Joeyjios, I found out that these are in fact, not edible food dishes, but dance moves in ballet.  Watch as former professional ballerinas and co-founders of #BalletBody, Lisha Chin and Alison Carroll, take me through a snippet of their hour-long ballet-inspired workout while I try my best to keep up.  #Ballet #Barre #Fitness --- Read more: http://www.asiaone.com/ FOLLOW us on - Facebook: https://www.facebook.com/asiaonecom - Twitter: https://twitter.com/asiaonecom - Instagram: https://www.instagram.com/asiaonecom/ EMAIL: For story leads, business enquiries, contact asiaone@mm2entertainment.com

SERVICES