Home Capital Sector Focus

Stresses continue at Ezion, Alpha Energy and Charisma; salvation may lie in Mustang Field

The Edge Singapore
The Edge Singapore2/25/2019 07:30 AM GMT+08  • 9 min read
Stresses continue at Ezion, Alpha Energy and Charisma; salvation may lie in Mustang Field
SINGAPORE (Feb 25): Ezion Holdings was one of the darlings of the offshore and marine boom. During its heyday (2012 to 2014), it took stakes in three small companies — Alpha Energy Holdings, Charisma Energy Services and Aus- Group. Since the start of th
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Feb 25): Ezion Holdings was one of the darlings of the offshore and marine boom. During its heyday (2012 to 2014), it took stakes in three small companies — Alpha Energy Holdings, Charisma Energy Services and Aus- Group. Since the start of the year, all three companies have announced new initiatives, which, if they materialise, could sustain cash flow and earnings for several years.

The major obstacle is likely to be the availability of funds to fulfil their vision. As at April 2018, Ezion owned a 41.48% stake in Charisma Energy; and, based on a circular dated Feb 18, it holds a 26.43% stake in Alpha Energy. Following a restructuring,

Ezion holds 12.2% of AusGroup. The relationship between Ezion, Alpha Energy and Charisma Energy is likely to continue. On Feb 4, Charisma Energy announced a suspension of its shares while the company is in discussions with banks and creditors to restructure. Charisma Energy, which owns offshore and marine assets such as rigs, plans to divest these assets. “The group is working on exiting the oil and gas business, and contributions from O&G assets will be minimal going forward. The group will continue to focus on developing and operating renewable energy assets, and building a future in renewable energy,” Charisma Energy states in its 2017 annual report.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now