Brief: Magnus Energy Group Responds To Securities Investors Association's (Singapore) Questions

Magnus Energy

29/10/2018 15:34

Oct 29 (Reuters) - Magnus Energy Group Ltd  MAGN.SI :
    * RESPONDS TO SECURITIES INVESTORS ASSOCIATION'S (SINGAPORE)
QUESTIONS TO COMPANY
    * CONSIDERS IT OPPORTUNE TO CONDUCT STRATEGIC REVIEW OF
OPERATIONS
TO REASSESS GROUP'S CORE COMPETENCIES & ITS FINANCIAL STRENGTH
    * CO'S NEAR TERM PRIORITIES IS TO COMPLETE RESTRUCTURING
EXERCISE
FOR OILFIELD EQUIPMENT SUPPLIES SEGMENT
    * EXPENSES FOR FY2019 IS EXPECTED TO CONTINUE TO REDUCE
AFTER EXIT
FROM ASIA PACIFIC BUSINESS
    * BOARD & MANAGEMENT HAVE EVALUATED CASH FLOW OF GROUP AND
ARE
SATISFIED THAT GROUP IS ABLE TO OPERATE AS A GOING CONCERN

Source text for Eikon:  urn:newsml:reuters.com:*:nSNZ4G051g
Further company coverage:  MAGN.SI 

 ((Reuters.Briefs@thomsonreuters.com;))