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Sing Food : Value emerging at current price
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ViperSTI
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01-Feb-2009 11:12
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SFI always distribute their dividends every Jan and Jun, this round because of the sale, isn't the existing shareholders deprived of their share of distribution this round? | ||||
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teeth53
Supreme |
19-Jan-2009 23:04
Yells: "don't learn through life, learn to grow with life " |
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Think..tink, even those old aunties n uncles may oso will have to be let go....even if they don't wish to go...teeth53 thot that it was once upon a time every proud that they highlighted employing older staffs to handle their ground operation n kitchen equipment in camp | ||||
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shplayer
Elite |
18-Jan-2009 22:57
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SATS purchase of SFI needs to be approved by minority shareholders at the EGM on 20 Jan 2009. If motion is carried, then the purchase will go thru and SFI shareholders will receive the necessary offer documents shortly after that. In earlier documents, SATs have declared that it is their intention to take SFI private......but they need to receive acceptance of >90% of the issued shares before they can do that.
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ViperSTI
Member |
18-Jan-2009 08:45
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Is SAT taking SFI private? Anybody knows when the sale will take place? I haven received any notification to sell my shares. | ||||
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teeth53
Supreme |
07-Jan-2009 21:00
Yells: "don't learn through life, learn to grow with life " |
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Last:0.895 Vol:1114k Those bot below, less then 0.86ct, good luck...Ya, sure profit >10%
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singaporean
Member |
07-Jan-2009 17:49
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SFI to be acquired by SATS Today's Straits Times seems to report everyone is in favour of the acquisition, except about 2% of the SATS shareholders. Tfore can conclude it's a done deal and current SFI shareholders can soon sell to SATS at $0.93 a share and sud not now sell lower in the mkt, which they still do today! |
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teeth53
Supreme |
15-Dec-2008 22:12
Yells: "don't learn through life, learn to grow with life " |
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After having set the bench mark at 0.93ct by SAT, mkt beneh mark is now set 0.86 cent, won't they know is cheaper to buy from the mkt and spend less as everythings got to go lower or less for this 2 to 3 years as global recession starting as every countires try as they may...pump as many as much money into the economy, is this call fair price?. They don't need to, don't have to buy remaining shares, unless they 1 2 on record collected multiple billion of dollars to even out the lost |
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chinton86
Veteran |
15-Dec-2008 13:30
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After the coverage on the zao bao on sunday that someone consolidating shares to oppose the takeover, today drop 3.5 cents.... | ||||
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shplayer
Elite |
14-Dec-2008 10:18
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Not to mention, a few months ago, Govt sold CAAS to Temasick for an 'undisclosed' sum.....which I suspect is a very good deal for the buyer...to generate cashflow and perhaps to list CAAS in a few years which will boost its capital gains. Does this not sound like a bailout?
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teeth53
Supreme |
13-Dec-2008 17:24
Yells: "don't learn through life, learn to grow with life " |
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teeth53 thot...Capland is over expose to property mkt, like they had bot end block land at Farrer/Holland road and has expanded aggresively, their CEO is also now Chairman for newly form Changi airport blurr, blurr, bluur liao, will they also expand Changi aggresively or put only S$130 mil to selected project to prop on going business as usual.
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dcang84
Veteran |
13-Dec-2008 09:54
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The long and short of it is Temasek need to raise funds and I suspect they will continue to review their portfolio on a regular basis to assess divestment opportunities. They have one eye on distressed assets which by the way includes those they are committed to. Some of these banks will need to raise more funds in the months to come. Just sit back and watch the episode unfold. |
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teeth53
Supreme |
13-Dec-2008 09:21
Yells: "don't learn through life, learn to grow with life " |
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SingFood don't get alot of profit from army food, thet likely to becoming a pig farmer, rear pig sell to S'porean n China republic <1 billion people's, also 'no need to buy at such high px of 0.93ct, give mkt condition today, just called it inter swapping share n prices to topup Tamasick quick just in case they need more money for future investment, it mean lossing more, for long , long term stake or in case they 1 2 invest in IR here. throu..Capland where there chief advicer is former Finance Minister | ||||
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chinton86
Veteran |
12-Dec-2008 13:40
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Since SATS had aquire the controlling power, i don't see the need for SATS to buy off the remainding shares from SingFood Minority Shareholder. The reason why SATS give Singfood minor shareholder a chance to sell at a good price is because of the law, the takeover code (If a Buyer aquire more than (Not too sure is 20 or 30% for singapore) in a seller co., they must annouce a takeover) else the law prohibits aquire of voting rights >20/30% in the seller co.). In addition, since Temasek had a interest in both co. they will not be voting. Hope |
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singaporean
Member |
11-Dec-2008 18:41
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Are the majority shareholders of SATS, ie Temasek and SIA, legally reqd to abstained fm voting for the acquisition, or merely morally obliged not to vote and thus give the minority shareholders the priviledge to decide on the acquisition of SFI? With the SFI currently selling at $0.89, apparently the SFI holders hv concluded that SATS minority holders will vote against acquisition and that it will prevail. Are there any similar cases in the past or precedents for guidance? I think SFI is good for SATS in the longer term which suits the majority shareholders' purposes and it seems quite unjustified if the minority SATS shareholders are allowed to spoil the deal, supposedly to satisfy their short term interest of enjoying good div yield |
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candle
Member |
10-Dec-2008 11:10
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So why pple
threw away $35/lot ? are they smarter? |
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jasonongsc
Senior |
10-Dec-2008 10:07
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hmm difference of 3.5c, good to buy ? :) | ||||
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teeth53
Supreme |
05-Dec-2008 20:52
Yells: "don't learn through life, learn to grow with life " |
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SATs got most of their profit from SIA, and other Airlines...Ya. Other airlines and how to get army give SATs good profit, so U think lohh, can get good profit mehh..?. unless they become SATs also become pig farmers as well, then sell pigs to singaporean nad to China..Eat all oso cannot finish liao "Cha Bei liao liao"
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chinton86
Veteran |
05-Dec-2008 13:07
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Hi, Note that SIA hold 71 percent of SATS and Temasek hold SIA Holdings. In addition, Temasick holds SingFood as well. Therefore, its is said that Temasek and SIA should not vote in the EGM. Therefore, the remainding 29 percent of SATS shareholder's vote will be very important to the takeover bid. Currently, SATS hold ard 60 plus percent of Singfood already, had already gain enough controlling power, to even put in their directors into Singfood. So from my point of view, i dun think SATS should offer at outrageous current lousy mkt condition px of 90 odd cents per share to Singfood Shareholder. Its to the disadvantage of the shareholder in SATS. Who can be sure that what the presentation on how Singfood can insert to SATS structure, imagine SATS is going thru a rough patch of unexpected wrong decision making liked investing in CLN, wrong estimation of payback period for Changi Airport Term 3 operational cost etc. To be frank, i "feel" that Singfood had alot of managing problems and it would incurred further cost to SATS to change Singfood look and reputation. Thats the reason why the current px of Singfood had a 2 cents arbitrage opportunity profit to the offer px of ard 92 cents per share. Hope the shareholders consider the consequences of $500m investment throghly. I'm not here trying to encourage or discourage any votings as i hold nil share at the current date. Maybe i will wait after the EGM before considering the counter |
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shplayer
Elite |
05-Dec-2008 12:01
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I view this as a form of bail out for Temasick. With this sale raising $334m plus P Seraya $3.8B, T'sick has raised $4.13B this week. Yes, price of 93c is high...but think of this....with this acquisition, SATS will have a monopoly situation for the SAF food catering contracts.=> they can command higher price => better margins. But, guess who is paying for this......YOU...the tax payer.....so in an indirect way, the tax payers are paying for the premium in this deal. Whilst 'mass kitchen' catering is synergetic with SAT's business, I am not so sure if it is familiar with the 'factory to retail' business....i.e Daniels, Cresset (soups, juices)...and abbatoir business. It took SFI several years to get a hang of the former and now they are just about getting it right. Perhaps SATs will just hive it off. As for the abbatoir business, its a monopoly or oligopoly business....so they can still turn profit with not so efficient operations......unless there is another swine fever crises. AS for whether SATs shareholders will approve the acquisition, well, T'sick, thru SIA, holds about 80% stake in SATS.....unless there is a force majuere event, I can't see the resolution not being passed. Personnal opinion.
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knightbridge
Veteran |
05-Dec-2008 11:25
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I am vested in SATS. Long term view is good to take over SFI at this price.. (But price still consider alittle ex, based on the current economic climate. In good times if this price SFI shareholder sure will not approve.) I think it is wise for SAT to buy over SFI to have synergy.. Short term wise (based on 1-2 years) with the cash hoard exhausted... no more 14 - 15 cent per year... 2009 harder chance to have high div. I am sideline, if approve SFI buy i may selll SATS to buy back cheaper in a few months time. If not approve buy, i will stick to SATS for its div next year (700mil can still keep it current div policy payout) Also depend in Feb what the market condition if got some economic recovery news will still hold SATS.. is a undervalue stock with no retail interest, buying purely for div play about 10% based on my buy price.. |
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