Big losses in listed O&G /marine companies…But salaries still big
It’s been awhile since I delved into the reading of annual reports. Last night I decided to read reports of several listed O&G/marine companies in Singapore. Big losses Undoubtedly many listed O&G/marine companies were in dire straits and outlook ahead were uncertain. There is no question that balance sheets of many these companies are strained with piling debts. Liabilities exceeded assets with limited cash to keep business going. Not to mention the reliability of the “assets”, if they truly worth what it was stated. Auditors also raised going concern doubts for many companies. Many companies had loses in 2015...
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