Will Keppel Corp and DBS support the defunct KrisEnergy’s fund raising?

Keppel is a major shareholder of KrisEnergy holding close to 40% of its shares. KrisEnergy is an upstream oil and gas company with 11 assets in Bangladesh, Cambodia, Indonesia, Thailand and Vietnam. The company is in serious financial trouble, with this week creditor Rubicon Vantage presented a winding-up petition.  
Unfortunately, I am also a shareholder of KrisEnergy since 2014, one of my worst investments. I bought the shares at SGD0.764 and it tanked to SGD0.030 last year August and trading suspended.
Fortunately, I only own 2000 shares translating to SGD1,528, and I am all ready to accept total losses.
NOW, the company is asking for another USD87 millions of loan subject to restructuring completion and shareholder approval.
Separately, KrisEnergy, which is in the process of restructuring its debt, will hold a virtual informal investor meeting for security holders this Friday at 6.30pm.
QUESTIONS? Will Keppel, DBS or rest of the shareholders save the company?
Finding a white knight during this distressed times of low oil price coupled with Covid-19 is an onerous task.
Let us look at this distress company’s financial information brief.
From 2019 Annual Report
KrisEnergy incurred a loss after tax in 2019 of US$168.9 million. Material non-cash charges to the profit and loss statement in 2019 remained at significantly high levels and amounted to US$158.2 million comprising US$46.9 million for DD&A expenses excluding DD&A on right-of-use assets in relation to the bareboat charters, US$65.2 million in write-offs for exploration and evaluation assets (Udan Emas production sharing contract (“PSC”), Sakti PSC and Block 115/09), US$22.1 million for impairment of oil and gas properties, primarily G10/48 due to lower oil prices and well performance, and US$24.0 million related to the non-cash accretion of bond discount, lease liability and decommissioning provision. The loss after tax resulted in a net capital deficiency position of the Group of US$145.9 million and net current liabilities of US$531.7 million as at 31 December 2019. In 2018, losses was USD137 millions.
Incredibly this loss-making companies for many years has many management members and directors. Coming from the Oil and Gas industry for close to 20 years, I can understand that an upstream oil and gas company will definitely be loss making in the initial years with high CAPEX until the oil assets start producing. But to have that many management as reported by End of 2019 with such high salary is ultimate ridiculous!
See below extracted from 2019 Annual Report:

Should Keppel Corp a major shareholder or DBS who is also the provider of credit facility more than USD150 to 200 millions save the company by giving KrisEnergy more loans? There are also many notes collectively, namely 2022 Notes, 2023 Notes, 2024 ZCNs, issued as at 31 Dec 2019 amounted to USD276 millions.
As a small shareholder of 2000 shares worth nothing today, I just split out my saliva… PUI PUI PUI!

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