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KDB to Back DSMEs Restructuring Despite Opposition

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first_imgzoom The restructuring of the financially-troubled South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) will go ahead as Korean Development Bank (KDB) plans to inject fresh funds to support the bailout plan despite the opposition from an individual investor, the Korea Herald reports citing the bank as saying.“One investor opposing the funds is not going to stop the plan from continuing to move forward,” a KDB spokesperson is quoted as saying.The announcement was made in the aftermath of a court rejection of the appeal from a group of individual investors to the bailout plan. However, the investor is said to be planning to take the case to the top court soon, as informed by Korean media.The plan envisages, half of the shipyard’s commercial papers to be converted into equity with the rest being rolled over. DSME’s creditors Korea Development Bank (KDB) and Export-Import Bank of Korea (KEXIM) will in exchange provide the company with KRW 2.9 trillion (USD 2.6 billion).The transaction would push the debt ratio to 300%, compared to 2,732% at the end of 2016.Separately, the bank said in a press release on Monday that the management committee for the shipbuilder’s normalization, comprising experts from the shipbuilding industry, finance, restructuring, accounting and legal sector along with representatives from credit banks, held a meeting in Seoul on Monday afternoon.As disclosed, the committee will meet on monthly basis to discuss major issues regarding the company’s restructuring plan and its future effective management. The first meeting is scheduled to be held in June, the key topic on its agenda being the review of DSME’s self-initiated rescue plan and discussion of the plan’s management in 2017.KDB said in the statement that the committee plans to implement the management normalization plan “in an efficient, professional and objective manner as soon as possible.”DSME has managed to return to the black in the first quarter of 2017, following stringent self-rescue efforts which included workforce reduction and asset sales.The company’s operating profit for the period bounced back to KRW 291.8 billion compared to an operating loss of KRW 38.1 billion.A similar turnaround was reported for DSME’s net income which reached KRW 261.3 billion for the quarter ended March 31, 2017, against a net loss of KRW 3.4 billion seen in the same three-month period in 2016.World Maritime News Stafflast_img read more

Haitian offender granted elder assisted parole hearing

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first_imgAPTN National NewsElder assisted parole hearings are normally reserved for Aboriginal inmates.But now one father wants to know why it’s possible for his daughter’s murderer to receive this special parole hearing despite the fact he is not Aboriginal.APTN National News reporter Ossie Michelin has this story.last_img

Patrick Kluivert reveals his son is Barcelonabound

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first_imgFC Barcelona legend Patrick Kluivert, confessed that he would love it if his son Patrick could someday play for the Catalan club as he did.We have already written articles about Patrick Kluivert’s son, Justin, about his impressive talent and how it could someday fit in a club like FC Barcelona.The AS Roma young player who obviously looks up to his dad, recently started his career at Ajax and his progression has been mercurial, to the point where the Italian club saw his potential and they didn’t hesitate to sign him.Justin has already scored his first Champions League goal in AS Roma’s 5-0 victory over Viktoria Plzen a few weeks ago, which is just another step towards his ultimate goal to become a world-class player.The quality is in his blood and his father is already quite proud when he talks about the impression that he is making in European football at such a young age, but Justin’s real intentions weren’t actually public until his father spoke to La Liga Lowdown during an interview and revealed that he talks about someday following his footsteps into the Catalan club.It will obviously be a very difficult road ahead, young Kluivert will obviously have to develop his skills in Serie A to a point where FC Barcelona can gain more interest in signing him for the future.“They are 2 very good players who could fit very well into the team at Barcelona…” 👇But just who is @PatrickKluivert talking about? 🤔 Find out in Part 1️⃣ of his EXCLUSIVE INTERVIEW 👥 with us here:https://t.co/0fHixkTbTcWatch, enjoy, subscribe, share! 😀#LLL🧡🇪🇸⚽️ pic.twitter.com/Ud9Pr7IaAf— La Liga Lowdown 🧡🇪🇸⚽️ (@LaLigaLowdown) October 26, 2018When listening to the interview that Patrick Kluivert offered, it is quite evident that his son’s greatest dream is to someday wear the FC Barcelona shirt and get to score goals with the same uniform that made his father a world-class superstar.“Of course [Justin] would love to play for Barcelona one day,” the 42-year-old Cameroon assistant coach told La Liga Lowdown.“He expressed in the press his goal is to play for Barcelona. He’s fitting in quite well at AS Roma. He’s in a young team with experienced and non-experienced players.”Fati and Suarez shine against Valencia at Camp Nou Tomás Pavel Ibarra Meda – September 15, 2019 With a mesmerizing first half from Ansu Fati and a brace from Luis Suarez in the second half, Barcelona demolished Valencia at Camp Nou.Valencia…“I think he needs to begin to play a lot more matches, make a lot of kilometers, and I hope at the end of the day he can sign for Barcelona because that’s also my dream, of course.”“If you see your son following in your footsteps, that’s a great feeling. If he played for Barcelona one day, I think I would be a lot more nervous than he would because he is quite down to earth and he can handle a lot of pressure.”“For a father who can do nothing from the stands but just look at your son on the pitch that you always played would be strange, but also a grateful feeling,” he concluded.Further analyzing Justin Kluivert’s characteristics as a player, we can already tell you that he has a very different set of skills than his father had as a player.Patrick was a more traditional type of forward, the very familiar tall center-forward who always acted as a perfect provider of spaces for his more skilled teammates and was always hunting for that perfect cross to strike the ball from inside the box.Justin’s trades are very different, this is one of those wingers who have mad skills with the ball at their feet and fits a lot more with that long line of Dutch wingers such as Arjen Robben, Johan Cruyff, Johan Neeskens, or Marc Overmars.This player has the potential to one day fill that empty space that players like Neymar or Lionel Messi will leave open for the new generation, obviously saving any kind of comparison with this assessment.The future seems bright for young Justin and with his father’s guidance, we are confident that he will reach a level that may be good enough for someday wear the FC Barcelona jersey and make his father proud.Justin Kluivert has all the tools to be a successful player in the Serie A. Roma are completing an incredible signing. pic.twitter.com/CMVUIiqFCb— EiF Video (@EiF_Highlights) June 13, 2018How long do you think it will take Justin Kluivert to play for FC Barcelona? Please share your opinion in the comment section down below.last_img read more

Three including minor killed in 2 separate road accidents

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first_imgKolkata: Three teenagers were killed in two separate road accidents in the city on Saturday night.The first incident took place on Belghoria Express Way when two teenagers who were riding a motorcycle were hit by a speeding truck. The incident took place in Nimta area at around 10 pm on Saturday. Another youth who was riding pillion also received injuries in the accident.The victims have been identified as Abhisek Acharya (19) and Shivnath Tudu (19). Police said the victims, who were residents of Dum Dum Airport area, were returning home on a motorcycle when the accident took place. Also Read – Heavy rain hits traffic, flightsAccording to preliminary investigation, police suspect that they were riding the bike at a high speed as a result of which they could not control it when a truck suddenly came from the opposite direction. The incident might have occurred while taking a sharp turn on the Belghoria Express Way, police suspect.According to police, Tudu and Acharya died on spot after being knocked down by a loaded truck while another, identified as Ritwik Singh (17) suffered critical injuries in the accident. Also Read – Speeding Jaguar crashes into Merc, 2 B’deshi bystanders killedPolice and locals rushed the injured victims to the College of Medicine and Sagar Dutta Hospital.Some of the locals heard a loud thud and found that the victims lying in a pool of blood. The driver of the truck fled the spot along with the vehicle immediately after the accident. Police have started a probe into the incident and conducting raids to nab the driver.In another incident, a 14-year-old boy who was returning home in a rickshaw along with his mother was killed after being hit by a speeding Tata Magic. The victim’s mother has been undergoing treatment in a private hospital. According to police, the victim, Sudiptonath Haldar (14) was returning home from private tuition along with his mother in a rickshaw when the accident occurred. When they were headedtowards Sanghashree ground near Garia station, the vehicle hit the rickshaw.The boy was rushed to the hospital where the doctors declared him brought dead. His mother, Rupa Haldar (35) received serious injuries. The driver of the vehicle fled the spot along with the vehicle after the accident. Police have started a probe.last_img read more