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Kim Eng
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ET88888
Member |
25-Feb-2008 11:55
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If one look at Kim Eng's financial report u may wonder why they are paying so much for expenses. $157 million for : a) Higher commission and trade expenses due to increase trading volumes. b) Higher employee benefits & bonuses c) Higher finance cost due to increased borrowings With a cash of about $1billion, why increased borrowing ? why so much for employee benefits Looks no future for share holders ??????????? |
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mike8057d
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22-Feb-2008 17:20
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anyone care to share your analysis? |
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mike8057d
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22-Feb-2008 17:17
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why the share price is not at 2.70? |
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mike8057d
Veteran |
22-Feb-2008 16:12
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then 20% or 30% or even 100% |
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hlayar
Senior |
22-Feb-2008 15:08
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Japanese are odd people but do not expect them to offer to buy 13%. They dont like 13. |
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mike8057d
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22-Feb-2008 14:19
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Each Relevant Shareholder will be entitled to accept the Partial Offer in respect of Eleven per cent. (11%) of the Relevant Shares (for example, 110 Shares for every 1,000 Shares) held by him as at the Record Date, fractional entitlements to be disregarded (the ?Relevant Percentage Offer Shares?). A Relevant Shareholder may accept the Partial Offer in respect of all or any part of his Relevant Percentage Offer Shares. Each Relevant Shareholder may, in addition, tender Shares that are in excess of the number of his Relevant Percentage Offer Shares (the ?Excess Shares?) for acceptance under the Partial Offer in the event that any one or more Relevant Shareholders do not accept their full entitlement of their respective Relevant Percentage Offer Shares. |
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mike8057d
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22-Feb-2008 13:59
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interesting. why not offer for all shares? |
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zhenxian
Senior |
22-Feb-2008 12:28
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oh... so partial offer also to us just that only want 11% of our shares only. Waht if i got 10 lots and 11% means 1100 shares. Isn't that cause me to have 8900 shares? how to trade after that? |
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limhpp
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22-Feb-2008 12:18
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0402 GMT [Dow Jones] Kim Eng (K50.SG) up sharply on news Mitsubishi UFJ Financial Group (8306.TO) to make offer to raise its stake; shares last +10.4% at S$2.23 but off earlier session high of S$2.42. Mitsubishi seeking to buy 11% of shares outstanding at S$2.70/share; currently has 4% stake, if bid succeeds stake will increase to 15%. Offer made to all shareholders, allowing each shareholder to sell 11% of their holding at S$2.70. Offer looks attractively priced at modest premium to 52-week high of S$2.46; allows investors to lock in profit on part of their holding, suggests acquirer thinks there''s value in company. Shares likely to be supported by offer near term; but order book suggests stock may settle back to around S$2.20. (KIG |
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quickpick
Member |
22-Feb-2008 10:59
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......not for shareholders....hmmm......thats why price came down again |
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limhpp
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22-Feb-2008 10:34
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Why are people pushing the price so high so fast if the partial offer of $2.7 not for retail investors? 
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teeth53
Supreme |
22-Feb-2008 10:27
Yells: "don't learn through life, learn to grow with life " |
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Kim Eng is recommending a final cash dividend, tax-exempt, of eight (8) cents per share. This will be payable on May 2008. Just FYI only. |
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zhenxian
Senior |
22-Feb-2008 09:57
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The partial offer of $2.7 is not for us right? its just a deal between Kim Eng and Mitsubishi UFJ Securities? |
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zhenxian
Senior |
22-Feb-2008 00:29
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1. INTRODUCTION Morgan Stanley Asia (Singapore) Pte. and Mitsubishi UFJ Securities (Singapore), Limited wish to announce, for and on behalf of Mitsubishi UFJ Securities Co., Ltd. (the ?Offeror? or ?MUS?), a wholly owned subsidiary of Mitsubishi UFJ Financial Group, Inc. (?MUFG?), that the Offeror will make a voluntary conditional cash partial offer for Eleven per cent. (11%) of issued ordinary shares (the ?Shares?) in the share capital of Kim Eng Holdings Limited (the ?Offeree?), other than those held in treasury and those already owned, controlled or agreed to be acquired by the Offeror or any party acting in concert with it (the ?Partial Offer?). 2. THE PARTIAL OFFER TERMS 2.1 The Offeror will make the Partial Offer in accordance with Rule 16.2 of the Singapore Code on Take-overs and Mergers (the ?Code?), on the following basis: (i) Partial Offer Price : S$2.70 in cash. KIM ENG MUFG Mitsubishi UFJ Securities MUFG Mitsubishi UFJ Securities (Singapore) 1 (ii) Offer Shares : The Partial Offer will be extended to all shareholders of the Offeree (other than the Offeror and parties acting in concert with it) (the ?Relevant Shareholders?) on the record date to be determined, which will fall on the 14th day before the first closing date of the Partial Offer (or if such day falls on a non-business day, on the immediately following business day) (the ?Record Date?). The Offer Shares comprise 61,558,194 Shares (the ?Offer Shares?), representing Eleven per cent. (11%) of 559,619,954 Shares (the ?Relevant Shares?), being the 600,082,954 Shares in issue, less the 16,671,000 Shares held in treasury and the 23,792,000 Shares already owned, controlled or agreed to be acquired by the Offeror or its concert parties as at the date of this Announcement. Each Relevant Shareholder will be entitled to accept the Partial Offer in respect of Eleven per cent. (11%) of the Relevant Shares (for example, 110 Shares for every 1,000 Shares) held by him as at the Record Date, fractional entitlements to be disregarded (the ?Relevant Percentage Offer Shares?). A Relevant Shareholder may accept the Partial Offer in respect of all or any part of his Relevant Percentage Offer Shares. Each Relevant Shareholder may, in addition, tender Shares that are in excess of the number of his Relevant Percentage Offer Shares (the ?Excess Shares?) for acceptance under the Partial Offer in the event that any one or more Relevant Shareholders do not accept their full entitlement of their respective Relevant Percentage Offer Shares. Under the terms of the Partial Offer, the Offeror is permitted to acquire only the Offer Shares and is not permitted to acquire any additional Shares which may be tendered for acceptance under the Partial Offer. Where the aggregate number of the Shares accepted and the Excess Shares tendered by the Relevant Shareholders exceeds the number of the Offer Shares, the Excess Shares tendered will be accepted up to the number of Offer Shares on a pro-rata basis (but in a manner which minimises the number of new odd-lot shareholdings as the Offeror may in its absolute discretion deem fit in the interest of the Offeror), provided that the Partial Offer becomes unconditional in all respects from such acceptance. (iii) Offeror?s Resultant : Assuming that the Partial Offer is successful, the aggregate Shareholding shareholding of the Offeror will amount to 85,350,194 Shares representing approximately 14.63% of the issued share capital of the Offeree (without taking into account the Shares held in treasury), comprising (i) the 23,792,000 Shares already owned, controlled or agreed to be acquired by the Offeror or its concert parties; and (ii) the 61,558,194 Offer Shares that are accepted and/or tendered under the Partial Offer. |
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zhenxian
Senior |
22-Feb-2008 00:22
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REVIEW OF GROUP PERFORMANCE Operating Profit & Expenses FY 2007 vs. FY 2006 Group operating income increased by 69% to $579.6 million in 2007 as compared to $342.5 million in 2006 as a result of strong trade volumes across the region. Other gains/(losses) has also increased by 35% to $15.5 million in 2007 due mainly to the higher gain on disposal of available-for-sale financial assets as well as a lower foreign currency exchange loss in 2007. However, there was a net loss of $9 million (2006: net gain of $3.7 million) resulting from the marked-to-market of financial assets held for trading. In line with the increase in revenue, total expenses for 2007 rose 63% compared to 2006. The increase of $157 million was mainly attributable to: a) Higher commission and trade related expenses in line with the increase in trading volumes; b) Higher employee benefit costs due to an increase in bonus provision; c) Higher finance cost due to increased borrowings; and d) A provision for impairment of trade & other debts and available-for-sale financial assets of $4.5 million (2006: net write-back of $5 million). Share of associates? profit was also higher at $8.4 million (2006: $6.1 million) for the financial year ended 31 December 2007. The Group posted a significantly higher profit after tax of $160.9 million for 2007 which is a 47% increase compared to 2006. This was despite a write-back of deferred income tax of $19.2 million in 2006 relating to unremitted offshore income. Basic EPS increased 49% from 17.02 cents per share to 25.41 cents per share in 2007. |
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zhenxian
Senior |
22-Feb-2008 00:19
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DIVIDEND (a) Current Financial Period Reported On The directors are pleased to recommend the following Final Dividend of 8 cents per ordinary share (tax-exempt one-tier) for the financial year ended 31 December 2007. The payment of the Final Dividend is subject to shareholders' approval at the Annual General Meeting to be held on 24 April 2008. Name of Dividend Final Dividend Type Cash Dividend Amount per share (in cents) 8 cents per ordinary share Tax Rate Tax exempt (one-tier) (b) Corresponding Period of the Immediately Preceding Financial Year The following dividends were declared on 20 April 2007 and paid on 11 May 2007. Name of Dividend First & Final Dividend Type Cash Dividend Amount per share (in cents) 9 cents per ordinary share Tax Rate Tax exempt (one-tier) (c) Date payable Subject to shareholders? approval at the Annual General Meeting to be held on 24 April 2008, the proposed Final (tax-exempt one-tier) Dividend for 2007 will be payable on 26 May 2008. (d) Books closure date NOTICE IS HEREBY GIVEN that subject to the shareholders? approval of the payment of a Final (tax-exempt one-tier) Dividend of 8 cents per ordinary share in respect of the financial year ended 31 December 2007 at the Annual General Meeting to be held on 24 April 2008, the Share Transfer Books and Register of Members of Kim Eng Holdings Limited (the "Company") will be closed on 8 May 2008 for the preparation of dividend warrants. Duly completed registrable transfers received by the Company's Share Registrar, Tricor Barbinder Share Registration Services, 8 Cross Street #11-00, PWC Building, Singapore 048424 up to 5.00 p.m. on 7 May 2008 will be registered to determine shareholders' entitlements to the said proposed Final Dividend. Members whose Securities Accounts with The Central Depository (Pte) Limited are credited with shares at 5.00 p.m. on 7 May 2008 will be entitled to the abovementioned proposed dividend. http://info.sgx.com/webcorannc.nsf/ef3ba6cb188613ea482571b2003641d3/fa0d2c26ae4ed405482573f600335e2d?OpenDocument |
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