Excessive debt level could send a company to bankruptcy, that was why I warn not to touch that company.
The remaining of $100m buffer, for a over $710m borrowing, just indicates it was at verge of breaking debt covenants. If having a look other ASX listed companies, they usually stated the remaining available facilities were 30% - 80% of existing gross debt. For instance, ORG, they had a couple of billions available, but still decided to raise capital. I was not surprise FTI was appointed and forced to debt restructure.
There were three outcomes: 1. Lenders "happy" to amend covenants and continue lending; 2. Capital raising at depressing price; 3. Administration.
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SHJ
shine justice ltd
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65.5¢

Issues with Shine's business and accounting, page-15
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Last
65.5¢ |
Change
-0.005(0.76%) |
Mkt cap ! $111.1M |
Open | High | Low | Value | Volume |
66.0¢ | 66.0¢ | 65.5¢ | $2.999K | 4.579K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 3738 | 65.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
67.0¢ | 27698 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 3738 | 0.650 |
1 | 1564 | 0.640 |
4 | 8928 | 0.620 |
1 | 1625 | 0.615 |
3 | 35500 | 0.610 |
Price($) | Vol. | No. |
---|---|---|
0.670 | 27698 | 3 |
0.675 | 2205 | 1 |
0.680 | 4843 | 1 |
0.710 | 394 | 1 |
0.730 | 20000 | 1 |
Last trade - 11.12am 10/07/2025 (20 minute delay) ? |
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SHJ (ASX) Chart |