Cheongwee,

No problem, forum is fr us to chat & share opinion.

I will prefer to let the market do the talking for Mermaid case.

Mermaid is a interesting acquisition for me. But depend at what price.

Talking about price, its quite sensitive. Fr this case here, i shall not provide.

Let see how market move Mermaid this coming Tuesday first.

Anyway Tuesday as i say, will be an interesting day.

Zhanshen

i just state my opinion, pls dont get agitated or angry even for those vested in Genting...

just ask what genting right issue is all abt..they are making losses...i am vested little here..

so u cannot compare with mermaid.... not becos i am vested here then i said this......if we are not honest with ourselves..we are cheating ourselves..we deserve to lose money..

what can be worse then bluffing yourself???.we want to make $..we dont want to love the counter.

whatever the outcome the near term? overtime i can only see goodness for this counter, the LEI is on much strong ground now, so going forward expect market to have minor correction and rally to last into early 2010..so i expect smooth sailing thro Oct...left only mid 2010 to worry abt...

so this can only meant good for this counter, only thing can prevent this one fr soaring is the dow(bad news)..which i thk muted for now...very lightly..

i have turn bullish at this point of time, fr 50% previously...

i am heavily vested more then you here, all proceed fr SAR into here, plus pickup along the way on weakness..

and also on guocoleisure...proceed fr tiong woon and li heng...

no worry, here...no doubt that i always favour blues chips..but mermaid and guocoleisure is solid for immediate future..long term, i cannot say..wish us gd luck here...

Quit agreed with Victorian.

This one resemble Genting SP. It may move back wards. 

u want ppl to suscribe to the right?,definitely major shr holder want the counter to be successful and you play down the shr px...what logic? if there are sell down, definitely it is the retail not the insider job....and who gain, major shr holder, insider will buy up...cheap.

i see the thai action here...i thk  they may play up the px, hope we will be surprise on the upside come Tuesday...

this coy have been ard since 1983,,,go public in 2007...they are solid growth coy..

we must know what thet raise fund for??? to service debt like Genting..it is a lose making coy,the play is assuming to make big $ come future...but mermaid is different..they are for expansion..

CheongWee.....

You sound like a very  patient investor. that's good. it takes a lot of patience to realise value. Most retail are very 3-5 day trading oriented and want to see action. I sometimes get impatient... and when I do, i cut losses too early if I want to hold cash since cash is always king.

SAR was a great corproate play. You rode the tiger........

If I had more funds, I would go big on mermaid and others but funds are stuck in Achieva.......I plough the profit into Achieva ie my returns from Achieva in the 1st leg of the corporate play was 200-300% ie 4.5-8c entry and exit at 10-13c. I rode the tiger there, took the dividend, contra too and got back in for the next phase. So bidding my time there for another big ride there......CK there very very patient there. Others I patiently waited was FU Yu.....60% return on my small 35k investment there for a 3 1/2 mth wait

Mermaid is a gerat story line. The CK management of the counter is really sophisticated and professional. Defintely a blue chip CK.

There is a high chance of it going down. Defintely. Issue is whether to subscribe for the rights or sell the rights when it starts trading.

Whichever way......CK and nominees will win big time. best time to get shares cheaply before the next big push..... In this case, they have been unloading in the last few days... push to 95c and unload so poor retail who do not understand these complicated corporate exercises will just sell the stock back to the CK. if you look at the trading halt. it was for 2 days. those who bough last Tuesday and wed when the stock was being pushed up.....next week tuesday and wednesday is going to be settlement time. they will be all confused. Since I've already made money from 55c to 98c.......I'll just sit tight and wait like Chong Wee. If it hits 83c..... or at NTA price post rights......I'll be getting more.

For the tighly helded counter to move to the next level of $1.20-$.1.80 as in the analyst reports, the liquidity of the counter must be there....

Chairman’s Message

2008 – A Year of Focused Strategic Execution

Mermaid Maritime Public Company Limited (“Mermaid”) continued its strong revenue and profit growth in 2008. Total revenues and profits were Baht 5,285.44 million and Baht 1,162.06 million, respectively. We have achieved a compound annual growth rate in revenues and net profits of 59.30 percent and 169.62 percent, respectively, since 2005.

Our Business Strategy: Active Fleet Management and Balanced Growth

Significant Growth Opportunities

Offshore Services Outlook

In Summary

1. We are a high-quality niche subsea engineering and drilling services provider.
2. We continue to be in a rapid growth phase and will take delivery of three newbuild assets in the next twelve (12) to fifteen (15) months.
3. Our balanced business mix offers an attractive risk and reward proposition.
4. We continually seek a good balance between company growth and shareholder returns.

Sincerely yours,

M.L. Chandchutha Chandratat
30 November 2008

a rights issue increases the amount of shares in the market hence dilutes the % shareholding of each individual. The only way to maintain the % shareholder is to subscribe for the rights.

Prior to the rights issue, the top 20 shareholders controlled 95% of the shares which explained why the counter did very well with thin volume from 25c to 70c.

Someone obviously released shares in the open maket which allowed for more trading and liqudity which then explain the move from 70c to $1 with much higher volume. However, the liqudity of the stock is still not high enough for it to move up hence a rights issue, other than to raise funds, also adds more shares to the market.

The great thing I see is that the rights issue is fully underwritten and there is a sub-underwriter. In layman terms, the pricing of the rights issues and the fundamentals of the counter is good enough for Meryll Lynch and a sub-underwriter to fully take up any rights that is not subscribed by the investing public.

In the short run, there may be some price pressure as some retail may not want to subscribe to the rights but CK will defintely be taking the opportunity to grab shares at whatever price (higher or lower) in the run up of the stock hence major volatility is to be expected.

I'll just sit tight and watch.......as in the mid term, CK and nominee holders for major shareholders would defintely push share price up to unload to recover cost of picking up the rights issue. Price in the next 6 months will be much higher that what it is today.

Look at various examples

See Hup Seng, 15c rights......now 40c.. high 50c

Hiap Hoe, 28c rights...now 46c. 52c high

Federal 10c rights, now 27c.. high 29c a few days back with continued accumulation

Popular 10c rights...now 18c

genting 80c now 1.05 and very stable. reaccumulating for next run.

DBS $5.42 rights issue 10mths ago, now $13.1

All usually within 3-6mths of ex-rights period.

Mermaid will not of no exception.