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Bright World Precision Machinery Ltd announced that it has secured a contract for one of the industry’s highest tonnage high performance range of stamping machines. The contract is for 4 units of high performance & tonnage stamping machines to Jiangyin ZhongNan, one of the leading manufacturers of steel pipe fittings, flanges and pressure vessels, for RMB10.9 million. (Closing price: $0.605)
/sgx
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If u are contra player....60 to 61 cent will be expensive.....'cause near to its recent high....
However, if Big Boys help to clear 60 and 61 cent...potential to go up...but the risk is higher too....
No risk no gain.......good luck..
I am already out at 60 cent....which is near to its recent high....
Move liao...those who heed my advice to watch this counter closely if you see my previous post ....would have noticed the movement...
good luck....
READERS' TOP PICKS for 1Q: Who won?
http://www.nextinsight.net/index.php/story-archive-mainmenu-60/912-2011/3702-readers-top-picks-for-1q-who-won
Whether you are doing long-term betting, or short-term betting,
you should do it in a methodical way, eg. by using TA.
But although TA is a good reference to use, it is still betting...
june_snowy ( Date: 14-Jan-2011 06:49) Posted:
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Hi there,
Could anyone please share if this stock is good for long term investment?
Price have surge to 0.55 & 0.56 recently...
Hi all,
Could the sifus here please enlighten me on this counter whether to hold or cut loss?
I have bought this counter @ $0.57 but now .... drop to $0.495...
Any advise is greatly appreciated. :)
Thank you.
Anyone got news on the CAD probe?
SGX Announcement (17 Nov):
The Board of Directors of Bright World Precision Machinery Limited (the “Company”) wishes to inform Shareholders that the Company has been asked by the Commercial Affairs Department (“CAD”) to provide assistance and information in connection with an investigation which CAD is conducting. As at the date of this Announcement, the directors of the Company are not aware of the nature of the investigation.
As and when appropriate, the Company will make such further announcements to keep Shareholders posted.
By Order of the Board
Bright World Precision Machinery Limited
what do todays updates mean ?
http://info.sgx.com/webcorannc.nsf/d21c0ed0b4a507cf482571b2003641d2/9bdbe87eefd0ab2d482574ec003f1af9?OpenDocument
| Re:Bright World (43 cts) at below 70-ct takeover price 1 Day, 4 Hours ago | Karma: 2 |
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I agree with you Harlequin. This looks to me a classic example of arbitrage opportunity. I don't expect the -10% conditions (separately for YTD 6M, YTD 9M and FY 08) to be violated given that the Q108 result was already 46% higher than Q107.
I just wonder who are selling at this price. |
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Interesting discussion at another forum - the link is here.
long time have not checked, but just now was surprised to find the stock is now at 41 cents.
how come?
the takeover offer price is 70 cents.
Takeover offer @ S$0.70-S$0.75
Story
received a pre-conditional voluntary cash offer from China
Holdings Acquisition Corp. (“CHAC”), a special purpose
acquisition company incorporated in US.
: Bright World (“BWPM”) announced that it hasPoint:
it receives <90% acceptances or a higher S$0.75 if >90%
acceptances. This translates into 9.8x-10.5x on its FY07 EPS
and FY07 P/BV of 2.6x-2.7x.
The offer is conditional upon CHAC receiving more than
70% acceptances. This is almost in the bag as CHAC has
received irrevocable undertakings from the majority
shareholder, World Sharehold Ltd who holds 77.4% of
BWPM. World Sharehold is owned by Chairman Mr. Wang
Wei Yao and CEO Mr. Shao Jian Jun. CHAC will then issue
to World Sharehold Ltd a promissory note convertible into a
minimum of 19.9m shares or 50% of CHAC. It is the
intention of CHAC to take BWPM private but will retain the
key management and operation of the Group.
CHAC will pay S$0.70 cash for each BWPM’s share, ifRelevance
66%-78% premium to BWPM’s 6-month volume weighted
average price and 89%-102% premium to its last closing
price on 18 July. Stripping off net cash, the offer price at
S$0.70 would value the core business at 10.5x 2008 PER
similar to its more established Japanese peers. We expect
BWPM’s share price to trade closer to offer price of S$0.70.
Investors may also take the opportunity to lock in profit now
instead of waiting for another 6-12 months pending
necessary approvals. Risk to completing the takeover could
arise from one of the pre-conditions that BWPM cannot
report earnings decline of more than 10% in 2008 given
rising iron and steel costs. We expect BWPM to report
11.5% decline in operating profits to RMB135m in 2008.