舉債來投資 MEGAN 值得嗎 ? （九）

sambora

我猜这两天的涨潮是要吸引散户购票让庄家趁高丢票.因为庄家知道媒岸要倒了.

Mr.Business

01-06-2007, Megan宣布MJC申请PricewaterhouseCoopers为Judicial Managers (显然MJC的债权人已经同意) 。
http://announcements.bursamalaysia.com/EDMS%5Cedmsweb.nsf/LsvAllByID/48256E5D00102DF3482572ED003C7048?OpenDocument

Judicial managers是什么用途呢？Judicial managers的委任是当债权人认为：
1. 欠债公司不可能清还债务；
2. 公司被整顿，以让她继续经营，这会对债权人更好 (还不需要把公司清盘) 。

简单来讲就是债权人还认为MJC有得救，还不想她破产。

Judicial managers将接管公司的财产和生意长达180天 (可延长) 。这段期间：
1. MJC不能被债权人申请破产；
2. No receiver and manager shall be appointed;
3. No other proceedings shall be commenced or continued against MJC.

而且Judicial managers须在60天内与债权人开会，讨论如何清还债务。

PS: 既然MJC的债权人愿意谈，不想MJC破产, 这对我们来说是好消息。

lklatmy

原帖由 Mr.Business 于 6-6-2007 10:04 AM 发表
Megan应该不会进PN17。
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2.0 Criteria

2.1 Pursuant to paragraph 8.14C(2) of the Listing Requirements, the Exchange prescribes the following criteria (hereinafter referred to as the ...

请问Mr.Business兄为何有此一说？2.1（b)不是triggered了mah?

piao2

趁大家还不知道megan葫芦里是什么药时，尽量在这里讨论吧。看好和看坏的继续唱，只要不伤和气就好。

大同大同我爱你！

dadi

恭喜上车！

晚上可以睡得好了

[ 本帖最后由 dadi 于 6-6-2007 10:22 AM 编辑 ]

Mr.Business

lklatmy兄，
Judicial managers跟receivers and managers是不一样的 (Singapore的法律认为是不一样，我国的法律我就不清楚了)。

参考资料：
Judicial Management
•         This is a Court sanctioned protection sought by a financially distressed company to allow the company time to put forward a rescue plan. It is similar to Chapter 11 filing in the U.S. In granting a judicial management order ("JMO"), the Court must be satisfied that:
-         The company is or will be unable to pay its debts.
-         The making of the JMO would be likely to achieve one or more of the following:
-         Saving the company or the whole or part of its undertaking as a going concern;
-         Enabling a Scheme under Section 210 to be worked out;
-         Effecting a more advantageous realisation of the company's assets than would be effected on a winding up.
•         The judicial managers are to put forward a statement of proposal on how to rehabilitate the company. The proposal must be approved by a majority in number and value of those creditors present and voting at the creditors' meeting.

http://www.rsmchiolim.com.sg/res_ma_reinvent.htm


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Judicial Manager
Pressures by creditors for repayment can often be so severe as to threaten the survival of a company. The appointment of a judicial manager can freeze all proceedings or executions against the company or its assets and thus provide an opportunity for arrangement is to be made with the company's creditors. This could ensure the survival of the company as a going concern or effect a more advantageous realisation of the company's assets than on a winding up.

http://www.kpmg.com.sg/services/services_advisory_cr_fia.html


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Judicial management - Singapore
This is an example of a modern rescue process. It enables a company in financial difficulty (or a creditor of such a company) to apply for the appointment of a judicial manager. The application is made to a court. The court must be satisfied that there is a prospect of effecting a proposal between the company and its creditors which would provide for the rehabilitation of the company or, at worst, would be more beneficial to creditors than if the company was liquidated. A judicial manager (an independent private insolvency administrator specialist) is appointed and has all the powers of management of the company. The management of the company is effectively displaced. A stay or suspension of actions and proceedings against the property of the company becomes immediately effective. The process may, however, be completely defeated by a creditor who is secured over all the assets of the company (via the device of the floating charge). Some might regard this as a weakness in the process (cf. England, Canada and Australia). The judicial management order remains in force for a period of 180 days. The judicial manager must present a proposal for consideration by creditors within 60 days (the time periods can be extended by order of the court). A meeting of creditors determines whether to approve the proposal. A proposal is approved if the majority in number and value of creditors (present and voting) accept the proposal. If the proposal is rejected the judicial management process is terminated. There is no automatic conversion to liquidation which may be a weakness. If the proposal is accepted it is the task of the judicial manager to implement the plan.

http://www.insolvencyasia.com/comparative_report/section_7.html


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ENDING OF LOCAL COMPANY
*  Striking off
* Members’ Voluntary Winding up
* Creditors’ Voluntary Winding up
* Compulsory Winding up
* Receivership
* Judicial Management

Judicial Management
If a company or its creditor(s) considers that the company is/will be unable to pay its debts and there is a reasonable probability of rehabilitating the company instead of resorting to a winding up, the Court, may upon an application, order that the company be placed under judicial management. A judicial manager will be appointed. For more details, please refer to the Companies Act or seek professional advice.

http://www.acra.gov.sg/company/endingcompany.html#6


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Management-in-control Chapter 11 process to replace judicial management?

The CLRFC suggested a revisit of the merits of a management-in-control US Chapter 11 process in lieu of judicial management as it is observed that most judicial managers and their staff are not able to take over the day-to-day operations of a company without the presence, input and involvement of the company's management. Whilst it is true that most judicial management of companies are conducted with the involvement of the companies' management, they are under the supervision of the judicial managers. In this regard, any proposed changes should incorporate sufficient controls and safeguards to ensure the interests of the stakeholders are protected.

Nevertheless, under the present judicial management legislation, the judicial managers are held personally liable for debts incurred during the judicial management period unless they have disclaimed personal liability (see Section 227I of the CA). The adoption of a management-in-control US Chapter 11 process may eliminate this onerous responsibility placed on the judicial managers, thus providing more flexibility and facilitating a speedier recovery of the company's business.

http://www.rsmchiolim.com.sg/res_ma_consolidate.htm


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http://agcvldb4.agc.gov.sg/non_v ... tle=COMPANIES%20ACT

[ 本帖最后由 Mr.Business 于 6-6-2007 10:26 AM 编辑 ]

mjchua

原帖由 dadi 于 6-6-2007 10:20 AM 发表
恭喜上车！

晚上可以睡得好了

中國股市崩盤也不關我們的事了 哈哈

kitkatlow

凍結交易也不錯，不用天天冒汗猜想股價跌多少。。。
本來打算走一趟的，看來可以省囘來了。。。

yusiang

大家还是先看看情况才进场吧，委任judicial managers后并不会在短短几个月就可以看到成绩的（而且成绩可以是好的，也可以是坏的）。

Mr.Business

现在要进场也没得进了。


XXXXX

kitkatlow兄，
再去探探嘛。

四伯爽

MEGAN终于要被人动手术了
应该是好事来的

四伯爽

judicial manager可以接管megan 180天

这样megan是不是要suspend 180天啊 ？

有关系的吗？

mjchua

原帖由 四伯爽 于 6-6-2007 11:01 AM 发表
judicial manager可以接管megan 180天

这样megan是不是要suspend 180天啊 ？

有关系的吗？

180 = 6 個月 = 半年

Mr.Business

原帖由 sambora 于 6-6-2007 10:15 AM 发表
我猜这两天的涨潮是要吸引散户购票让庄家趁高丢票.因为庄家知道媒岸要倒了.

看不出来有庄家趁高丢票。

Megan

Date

Open

High

Low

Close

Change

Volume

1-Jun-07	0.26	0.32	0.26	0.31	0.035	83,978
4-Jun-07	0.31	0.32	0.29	0.31	-0.005	13,747
5-Jun-07	0.31	0.31	0.30	0.31	0.010	7,153

Megan-WA

Date

Open

High

Low

Close

Change

Volume

1-Jun-07	0.09	0.12	0.09	0.11	0.015	102,206
4-Jun-07	0.11	0.12	0.10	0.10	-0.005	17,233
5-Jun-07	0.10	0.12	0.10	0.12	0.010	7,701

Mr.Business

原帖由 四伯爽 于 6-6-2007 11:01 AM 发表
judicial manager可以接管megan 180天

这样megan是不是要suspend 180天啊 ？

有关系的吗？

Judicial manager可以接管MJC 180天

星空无限

Business兄﹐不知這間JUDICIAL MANAGER聲譽好嗎?

kitkatlow

感覺上，好像一場世紀大審判，控辯雙方都已作了呈詞，要做的都做完了。

“現在本席宣佈無限期休庭，直到評審團商討出結果爲止”

等啊等啊等，股票，本來就是一個買，等，賣，等的遊戲。

Mr.Business

我只知道MJC的Judicial Managers是PricewaterhouseCoopers，
PricewaterhouseCoopers声誉好不好我就不清楚了。哈。

yusiang

PricewaterhouseCoopers是one of the "Big 4"

四伯爽

PwC应该是ok的啦

这样大间 如果它都搞不掂

没话讲了