OLS Enterprise   

crazy horse

up 8 cents ,must be sale of assests to done to be paid out to shareholders,hence looking at $1.20 to 1.30 paidout  soon

within 2 to 3 months timeframe and rec share worth .30cents at end of 2008.

 

 

November 27, 2007	Conclusion of a License Agreement with Otsuka Pharmaceutical Co., Ltd. On November 19, 2007, TTI ellebeau, Inc. (hereinafter the "Company") concluded a license agreement with Otsuka Pharmaceutical Co., Ltd. (Head Office: Chiyoda-ku, Tokyo) (hereinafter "OTSUKA"). Under the terms of the Agreement, the Company has granted OTSUKA an exclusive license to develop and market a potential pharmaceutical product in a specified area, by applying ionic passive technologies - the proprietary transdermal drug delivery technologies owned by the Company's Group - to the active pharmaceutical ingredient owned by OTSUKA. Transdermal products using our technology are expected not to be affected by the first pass effect of the liver, and achieve a stabilized blood concentration of the active ingredients. It is also expected that the patient compliance will be improved by making the potential products in the form of patches. In addtion, the Agreement covers the following terms that the Company will take a role of manufacturing the product for the pre-clinical study and the clinical trials conducted by OTSUKA. The Company will also be responsible for manufacture and supply of the commercial product to OTSUKA after obtaining regulatory approval from the authorities. In accordance with the terms of the Agreement, a fee for granting such license at the conclusion of the Agreement and milestone payments at certain stages of the development as well as at accomplishment of certain sales amounts will be paid by OTSUKA to the Company. Mr. Akihiko Matsumura, Chief Executive Officer of Transcu Ltd., our parent company in Singapore, said "This is a major validation of our technology. It is exciting to work with such a major pharmaceutical company like OTSUKA. We hope that this is a start for more collaboration between the two companies."
October 25, 2007	At the request of TRANSCU LTD.(Formerly known as Transcu Pte. Ltd.,"TRANSCU"), our Parent company, we are pleased to announce the followings; Inaugural Reception of Transcu in Singapore The directors of Transcu (the "Directors") are pleased to announce that the inaugural reception of their head office in Singapore was held on 25 October 2007 at the Ritz-Carlton Millenia Singapore. Contracts Signed with Customers To-date In addition, the directors of Transcu would like to announce that to-date in 2007, Transcu Ltd. and its subsidiaries (the "Group") have entered into separate distribution or licensing contracts with three customers. Under a distribution contract, the Group will develop and manufacture for the customer the required products for sale in specific markets. In a licensing contract, the Group agrees to license its proprietary technologies to the contracting party for product manufacturing as well as the manufacturing of OEM products for the Group in specific markets. In addition, the Group has also entered into separate contracts with three different customers to provide feasibility studies in applying its proprietary technologies in the products of the customers.
September 1, 2007	We are pleased to announce you that, as of 1st September 2007, Transcutaneous Technologies, Inc. ("TTI") has transferred its headquarters to Transcu Ltd.. ("Transcu"), a Singaporean corporation, and that TTI ellebeau, Inc. ("TTI ellebeau") has commenced its operation in Tokyo as a newly-born company, upon the merger between TTI and Ellebeau Inc. In addition, as of the same date, Dharma Therapeutics, Inc., a 100% subsidiary of TTI in Seattle, USA, has become a wholly-owned subsidiary of Transcu. We will strive for further advancement of our research and development capabilities with closer coordination among Singapore, Japan and the United States, and for ultimately meeting the expectations of our customers, clients and business partners, with all the concerted efforts of DDS business related to the transdermal drug delivery and ellebeau business related to cosmetic products.
May 23, 2007	TTI signed a Share Exchange Agreement with Eng Wah Organization Limited ("Eng Wah"), a listed company in Singapore, that relates to Reverse Takeover. The contents of the Agreement include stipulations for Transcu Pte. Ltd., TTI's related company ("Transcu") to reverse takeover Eng Wah through exchange of Transcu shares and Eng Wah shares (shareholding ratio after the exchange will be 91.5% by TTI shareholders and 8.5% by Eng Wah shareholders) after receiving an approval from Singapore Stock Exchange.
March 21, 2007	Completed phase 2 clinical trial of a local anesthetic product in the United States (March 20 in US local time). It was confirmed that TTI?s active transdermal delivery technology, which administers lidocaine and epinephrine through the skin via a mild electric current, was safe and effective.
January 9, 2007	Started phase 2 clinical trials of a local anesthetic product in the United States (January 8 in US local time). Effectiveness and side effects of transcutaneous anesthesia will be evaluated.
January 9, 2007	The progress of phase 2 clinical trials of our local anesthetic product was reported in a news program of a local TV station, KSL of the NBC group (January 8 in US local time). 〔link to the subtitled version〕

 

being paid $1.20-$1.30 cash and receive one share of  medical company worth 30 cents

with potential to grow bigger ,all this within a few month. time frame.

if you have brought from 50 cents to 85 cent looking more than 100% profit. is a very good

deal without downside(as payout of $1.20 is a done deal.)

 

 

Thanks Mike for your sound experience.

No point investing in a company like Eng Wah that has no prospect.  Investment should be for secure & reasonable returns (where business should make more businesses) & not on betting for cash pay out from sale of assets with no business generating ability in the case of Eng Wah.

 Thanks, learn a valuable lesson.

 

yup....remember NatSteel....sold their business, and become an empty shell company.

 

Hi Mike

According to DBS Vickers;

SINGAPORE, Jan 10 (Reuters) - Shares of Eng Wah Organisation <ENGW.SI> rose as much as 32.8 percent to a record high of S$0.91 with 604,000 shares traded after it was reported that the cinema operator will put five cinemas, retail and office properties up for sale, worth about S$190 million ($133 million) .

The Business Times reported that the majority of the proceeds will go to its shareholders. Eng Wah is in the midst of a reverse takeover deal with a Japanese firm.

Do u think its a good deal too??

I am a bit doubful since nowhere to earn profit from after sale of asset, will the stock become worthless.

 

my opinion...hard to believe

 

such a good deal? 

 

Hi

If Eng Wah is selling substantilly all its assets & its operations would all be discontinued, may I know what will Eng Wah be doing for business to bring in their profit.  If there is no business meaning no potential for this stock, is the stock really worth buying just for the sake of getting a piece of the cash pay out for the sale of assets. 

Any kind souls pls advise, tks in advance.

 

You mean shareholders will get cash payout of 1.20-1.30 and the share px will also likely go up to 1.60 ?

But this new share px of 1.60 will not mean much if shareholder is not selling, right ? 'cos the share swop from EW to TTI is one for one, and not reflective of then share px of EW ?

 

At $1.60 for eng wah ,shareholder are looking at a payout in cash $1.20 tp $1.30

within a few month before RTO is completed.

 

With report from business time that eng wah is selling assets for $190million instead of $120 million

share of eng wah should now belooking at $1.60.

at today price of $0.90 ,it upside 70cents to go.

 

 

 

at last it starting to run,Eng wah should be starting selling its assets for

the RTO is to complete by next year. shareholder should be gettibg a big payout

before the year end.

 

In late May, the group announced a S$675 million reverse takeover (RTO) by Transcutaneous Technologies Inc (TTI), a Japanese biotech firm. The news sent the stock surging some 40 per cent from around 38 cents. And despite the market volatility, the stock stands sturdy at above 50 cents. There is a good reason for this.

 Under the RTO deal, Eng Wah will have to clear all its assets and liabilities, then distribute the resultant cash pile to shareholders. Under the share swap agreement, TTI will get the remaining $10 million. This is where things get quite interesting. Despite being templated as a cinema and entertainment group,

 Eng Wah is actually a property holdings group. A quick look at its books reveals it has a portfolio of properties which yield significantly more income than all of its six cinemas put together. The group's property holdings comprise a 7,330 sq ft office unit situated in Orchard Tower, which is reportedly undergoing an en bloc sale. Then there is a shopping-cum-entertainment complex in Toa Payoh Central with a gross floor area of 45,000 sq ft. It has another similar shopping-cum-entertainment complex called Jubilee in Ang Mo Kio which has a GFA of 50,000 sq ft. Other property assets include a 15,000 sq ft property in Clementi and another similar-sized asset in Kallang Basin. This entire portfolio is carried in Eng Wah's books at around $30 million, inclusive of 'plant and equipment'. Given that its Orchard Towers unit alone is looking to fetch some $10 million in an en-bloc deal, this figure looks somewhat unrealistic and understated. In fact, conservative estimates, based on current market conditions, suggest that Eng Wah's entire property portfolio could be worth around $120 million.

 In addition, Eng Wah has some $20 million in cash holdings. These include the proceeds from its April 2007 disposal of its stake in Daikin Singapore Pte Ltd at $9.35 million - which brought in a profit of $8.95 million. So much for the number crunching. But what really matters to shareholders is this: under the RTO deal, Eng Wah will have to sell all these assets, and together with the cash in hand, distribute almost all of it ($10 million will go to TTI) to its shareholders.

 Assuming it gets $120 million from its properties, and adding the $20 million in cash, we get a whopping $140 million. After setting aside the requisite $10 million for TTI, there will still be $130 million for distribution to shareholders. This means Eng Wah shareholders are looking at a potential payout amounting to a jaw-dropping 87 cents per share. But the story doesn't end there. Under the terms of the deal, after the distribution, existing shareholders of Eng Wah will also get one pre-placement TTI share per Eng Wah share. TTI shares will be later privately placed out at 38 cents per share - which means this price effectively forms a base from which the share price could rise later if the biotechnology delivers on its promises.

 And there is no reason to doubt it will. Finally, the icing on the cake is Eng Wah's $3.5 million in Section 44 tax credit worth up to 2.3 cents a share, if distributed before Dec 31 this year. These are incredible numbers for a company which announced losses of $10.6 million for the year ended March 2007. It is also welcome news for its long-suffering shareholders who have endured the company's underperformance and recent misadventures. Many gave up and bailed out earlier this year after its Crazy Horse franchise stumbled. But now, those who stuck with the company are looking at a potential bonanza.  About $1.18 and  not looking the share price could rise later if the biotechnology delivers on its promises.

 

huge potential for transcu; no pain medication, a lot pple will love it

 

It said it had received a $675 million reverse takeover offer from Japanese biotech firm Transcutaneous Technologies Inc.

 

Go read the presentation in SGX announcement. At least the promised profit for 2008 is 10 million and not 300 million (quite achievable). But the slide presentation is not convincing enought !!!

 

Again request to halt at 10am. Mayin Mayin, a while apply to lift halt at 9.45am, then a while later apply halt again at 10am. This type of takeover aLSO must be careful. The Japan company who acquire is in the losing business, just saw their P/L. Be careful on this counter. Now query by SGX thus halt again. No more naked woman dancing, jiala, if they depend only on movies. Now so many DVD renting all over Singapore and so convenient. I think the last time I see movies is Spiderman, now already Spider 3. Good Luck.

 

ehh...still HALT ?? i thot suppose to lift suspension at 9.45am TODAY for me to SHORT?? hee....