FirstLink^   

RTO of First Link

any idea, how much will the shareholders be paid back.. it was trading quite well some time ago

 

 

 

 

 

 

 

 

ANOTHER SG LISTED COMPANY DELISTED

 

 

With the demise (delisting) of Firstlink by 1st April 2011, shareholders should get back some cash, but I am not sure how much.   Anyone accountant can please look through their last reported financials and give some clues?   It will be interesting to know the amount available as an exit offer which the directors are obliged under law to give one.   Hope they come up with a clean one and don't disappoint the shareholders.

Most local banks and Citi and HSBC and the brokerage firms are among the top 20 shareholders and they probably also have lost a bundle in FL.    

 

First Link will be delisted as the SGX will not allow a further extension for the company to seek continued listing.

Hopefully some money may be paid back to shareholders from the remaining few million dollars in cash and other assets.  

This is the result of poor management.   Shareholders lost too much and thankfully the bell tolls and this will hopefully keep the directors from extravagantly spending the rest of the money the company has.  

 

I have been watching this company's announcement for many years and have come to the conclusion that it is hard to believe the company based on their announcements because every time a forecast was confidently made it never came true, especially when financial matters are touched upon. It really shows the pitfalls of the market system we are believing in.   Who can disagree, I would salute you first.

 

Otherwise, very difficult for this company amongst all "lousy" companies in the SGX, this is the most lousy one; owing to propensity of management to lead in unpredictable fashions in too many transactions.  In other words, seems they never got it right.  A good solution will be voluntary resignations of all directors and request judicial management to take over the running in the hope of salvaging the remains of assets and perchance make good the company by steering it clear of aimless corporate desert of wilderness. Perhaps one good way is to subcontract the running of the company to some people of sound track records and societal and business standings.  My opinion of this hopeless company to do this could change its fate.

Laulan      ( Date: 09-Dec-2010 14:59) Posted: I believe closing down the company is the best option for everyone.  At least still some money to take back.  Wait longer, it will become deficit.

 

I believe closing down the company is the best option for everyone.  At least still some money to take back.  Wait longer, it will become deficit.

 

Baberic, you can see future?  Really now when the deal is off, proves you very right.  There are too many times happening, see-saw see-saw things going on.  Mostly man-made and not natural. Yah artificial is the word.  This counter kills and will continue to kill shareholders.  Don't know who can do something?

ongph88      ( Date: 06-Dec-2010 14:30) Posted: now that RTO has terminated. what is the chance of survival ? or be de-listed !!!

 

now that RTO has terminated. what is the chance of survival ? or be de-listed !!!

 

 

Wah, too very chim leh. What then can we do? What can be done?

 

Ooou ooouh ooouoo.  Talking about trust and lies, the corporate world speaks more lies than truth, I believe. And this isn't good to be allowed to stream into our corporate culture forever.  Couldn't be bothered attitudes can cause downfall in humanity, society and the system.  Be careful you who believe in punting and be careful you who "control" the boats that row in the streams of financial oceans.  A leak sprang sinks all. I am joking? No not joking, it is serious.

 

Never trust that this co will make it.  Looking at past track records, it seems that all the sayings never come true.  All forward looking statements in hindsight became watershed statements, and quite shameful to hear or know.  Authorities are appearing sleeping.  People are sleeping.  Money are draining away.

Laulan      ( Date: 02-Aug-2010 16:41) Posted: Let bygones be bygones should be the theme for shareholders.  The important thing is that remaining shareholders must find value in the "refounded" company, I mean the RTO. Putting future profits aside, I think the acquisition results in share valuation of about 20 cents. Shareholders lose on reverse split but gain on RTO prospects and goodwill as seen from past profits of S$12 to 15 million per year . Current NTA is about 10.5 cents.  The future value will be determined by market aspirations and perception after RTO. DYODD.

 

Let bygones be bygones should be the theme for shareholders.  The important thing is that remaining shareholders must find value in the "refounded" company, I mean the RTO.

Putting future profits aside, I think the acquisition results in share valuation of about 20 cents. Shareholders lose on reverse split but gain on RTO prospects and goodwill as seen from past profits of S$12 to 15 million per year . Current NTA is about 10.5 cents.  The future value will be determined by market aspirations and perception after RTO.

DYODD.

 

Agreed.  If the acquisition and simultaneous reverse takeover are successful, then with new management under Tai-Ao's control, FirstLink or any eventual change of name will in effect rise from the proverbial ashes.  I think if we consider the deal in perspective, it is a good one with FL management doing a good return to the few battered shareholders left. It is now worth a gamble with not much left to lose.

 

First Link in Reverse Takerover by Tai-Ao Aluminium.  Hope this transaction changes the fate for shareholders of the beleauquered company who held the shares since it was a dollar before.