Post Reply
101-120 of 480
LI HENG WILL NOT BE DELIST IN SGX...LATEST NEWS...
maxcty ( Date: 30-Sep-2009 20:31) Posted:
| so Li Heng confirm delist? I still have some holdings on this counter sia..
|
|
so Li Heng confirm delist? I still have some holdings on this counter sia..
I think more S-chips will delist from SGX and list in SSE or Hongkong due to they are undervalue so much and are looked down.
so company will buy back all this share at last price or?
More China company to be delisting from sgx as they are very undervalue.The owner will buy back those especially down far far away from IPO price...
SINGAPORE COMPANIES
Delisting in the offing for Li Heng?
Lynette Khoo
425 words
30 September 2009
STBT
English
(c) 2009 Singapore Press Holdings Limited
Talk of 41 cents a share offer; trading halted pending an announcement
PLANS are afoot to take Li Heng Chemical Fibre Technologies private at 41
cents per share, pricing the company at some $690 million, say sources. The
stock has been halted from trading since yesterday morning pending an
announcement.
If it materialises, the offer price would be a 5.1 per cent premium over Li
Heng's last traded price of 39 cents and a premium of 6 to 9 per cent over its
volume weighted average prices (VWAPs) for one month, six months and 12
months.
This potential privatisation came amid news of delisting and dual listing
plans by China companies listed in Singapore, or what are commonly referred to
as S-chips.
Some dealers believe that Li Heng could be seeking a listing in Hong
Kong.
'This is not the first and definitely not the last,' said a local dealer of
the potential delisting of Li Heng. 'Quite a number of S-chip owners are not
happy with the valuations they are fetching in Singapore.'
There was no news yet from Li Heng by press time yesterday. Li Heng was last
trading at 10.71 times price-to-earnings (PE), versus its A-shares market listed
peers Dymatic Chemicals at 26.29 times PE, Anhui Wanwei at 101.45 times PE, and
Nanjing Hongbaoli Co at 33.73 times PE.
For the first half ended June 30, Li Heng fell victim to the economic crisis,
registering waning sales and selling prices, which led to a 91.5 per cent slump
in net profit to 48.2 million yuan.
China Precision and Sihuan Pharmaceutical have announced plans to delist and
to relist on a recognised stock exchange in the future if market conditions are
favourable.
Others that are seeking dual listing in Hong Kong include Z-Obee, China XLX
and Midas Holdings.
Sihuan has already submitted the delisting proposal to the Singapore
Exchange. Its exit offer price represents a premium of about 24.4 to 46.4 per
cent over the one-month, three-month, six-month and 12-month VWAPs, while China
Precision's represented a 25.79 to 68.67 per cent over its VWAPs for the same
periods.
Another S-chip, Trump Dragon Distillers Holdings, also halted
trading yesterday morning pending an announcement. Incidentally, both Li Heng
and Trump Dragon were initial public offerings brought in by UOB-Kay Hian's
A-team David Loh and Han Seng Juan.
ROI25per ( Date: 30-Sep-2009 11:32) Posted:
| why still halted? still no news yet, does not sound good.
|
|
why still halted? still no news yet, does not sound good.
mayb as usual dual listing, placement etc....
wat d news?
ah heng quite steady today
getting back to 42 gain???
alot bb want buy in at 0.375. SSE green le.....4pm shd see the result. I think closing shd be 0.385
I doubt so after seeing its chart....last month highest was 0.420. Target price for this counter is 0.49. maybe this wk k pass thru 0.400.
I personally feel this is over ... i hope i am wrong thou ... can someone please explain ...
tug-a-war for toooooo long... Is this a gameover counter ?
dont forget this baby.....is showing uptrend...showing resistance at 0.375. if break will go to 0.420...been holding for too long btw 0.365 - 0.370
Price going up now . Is it a good price to buy now or shall I wait a while more.
42 is a good target for profit
ROI25per ( Date: 26-Aug-2009 21:50) Posted:
is it eyeing 2nd listing also???
36 is not high, pre-ipo investors paid around 41.58 (Pg 82 propectus) and ipo was 80
Published August 26, 2009 
|
|
S-chip issues - crux lies in enforcement
By
LYNETTE KHOO
THE
wide-ranging measures proposed by Singapore Exchange (SGX) last week
have driven home a strong message - that the exchange views the failure
of issuers and the problems plaguing them with gravity.
Measures such as imposing disclosure of pledged shares and custodising
shares of controlling shareholders have plucked right at the heart of
issues plaguing S-chips (China-based companies listed in Singapore). It
was also comforting to hear from SGX that there is no pervasive fraud
risk relating to China companies.
But the jury is still out on
whether this move will restore investors' confidence and prevent some
issuers from entertaining thoughts to move to other stock exchanges
offering better valuations.
This week, Sihuan Pharmaceutical's
parent company, China Pharmaceutical, has decided to initiate a move to
take Sihuan private, citing thin trading volumes. Just a few days ago,
Z-Obee Holdings said that it was looking into the possibility of a dual
primary listing on the Hong Kong bourse, shortly after China XLX filed
its application for a dual listing there.
It is unclear if these
are isolated cases or part of a wider trend of some S-chips seeking
greener pastures. There have been market whispers that some S-chips are
contemplating such a move if their valuations continue to stay
depressed.
The two S-chips eyeing dual listing have cited as
reasons a desire to gain access to two different equity markets, to
widen their investor base and to raise share trading liquidity.
But there is some speculation that S-chips contemplating a dual listing
in both Singapore and Hong Kong could eventually pull out of one stock
exchange to avoid paying two separate listing fees. Such a decision
would probably hinge on how well the S-chips' shares perform in Hong
Kong and how soon Singapore would catch up in the valuation race. All
eyes will thus be on how handicraft and furnishing maker Passion
Holdings - the first Chinese IPO here this year - will fare on its
debut next week.
The latest proposed measures by SGX are a
welcome move to instil market confidence. But it would be presumptuous
to assume things will look up right away for the S-chips sector. There
remains lingering doubts over the listing compliance of some existing
issuers and the problem of enforcement. One of the proposed measures is
for new listings on the mainboard to appoint governance advisers for
the first two years post-listing to help companies institute a robust
framework of reporting accountability, internal controls and other
components of good corporate governance.
It is good to have an
extra pair of eyes on new listings, which are green in the ways of a
listed company. Most S-chips tend to head for the mainboard instead of
Catalist, which means that future new S-chips will need to appoint
governance advisers.
But on practical grounds, it does beg the
question of how effective the proposed measures would be for foreign
listings. If independent directors here find it hard to oversee
companies whose operations are mostly offshore, what more the
governance advisers?
Corporate governance concerns about S-chips
have not fully blown over yet. Of about 10 cases of listed companies
with irregularities since the beginning of 2008, half are Chinese
listings, whose problems are still largely unresolved.
At
FibreChem, external auditors Ernst & Young could not finalise an
audit of its trade receivables and cash balances for the year ended Dec
31, 2008. Until now, it is unable to report its financial results for
fiscal 2008 and the two quarters of this year.
China Sun has
also faced an accounting mess. But the services of its chairman
appeared to be indispensable as after the independent directors
suspended him for failing to attend a board meeting to explain missing
cash, he was reinstated three weeks later, albeit with conditions.
In the case of Oriental Century, even after police reports have been
filed by its board for the massive fraud perpetuated by its
chairman-cum-chief executive, the question shareholders like to ask is
the outcome of the investigation and the action to be taken.
The
proposed measures by SGX are laudable and would strengthen corporate
governance here. But enforcement over existing S-chip issues has to be
part of the equation to restore faith in this market segment.
SGX's reiteration of high baseline standards as a frontline regulator
is assuring, and has been demonstrated in its proactiveness with the
planned measures. Having new rules to pre-empt future problems is a
good thing, but the heart of the issue is still that of enforceability.
|
|
|
What's happening?? Li Heng is having a correction??
monday this counter will be a up
