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ta ke the money & return the peanuts la.we cant fight against you , Mr LW. spare us a thought. make so much still no tenough meh? might as well delay for 20 years till you die then no need topay ..F
Thank you very much for your feedback.
Currently, we are still reviewing the Exit Offer proposal of the Company and will release further updates shortly. We are aware of the feedback provided by investors of the Company and will take them into consideration.
We appreciate your patience and understanding on this matter and seek your patience while we continue working on it. Yours sincerely,
Lynette Choong
Manager
Retail Customer Experience
Singapore Exchange Limited
Email : asksgx@sgx.com
I?m a shareholder of Synear and I wish to seek for SGX?s stance regarding Synear?s corporate governance.
1. It announced delisting plan last year and had to delay till last month to carry out the voting. While this is legally allowed, it prohibited any potential growth in the stock throughout the frozen period. The extreme case would be ?Company A? calling for delisting and then holding out for many years before going ahead with the delisting voting ? the future value of the stock is not accounted for. SGX should tighten on this loophole.
2. It is delaying delisting payment back to the shareholders. Again, the extreme case would be the company holding on to this money for many years ? the future value of the payment is again not accounted for. SGX should also tighten this loophole such as charging the company an interest on behalf of the shareholders who opted for delisting.
3. There?s already public feedback through online and Straits Times forums indicating how this delisting has been unfair ? the external auditor has providing conflicting views in her assessment. SGX should also review this and ensure minority shareholders are not shortchanged.
This boils down to protection and prevent short-changing minority shareholders ? especially counters which reside in foreign lands.
There are many lessons that can be learnt from CLOB, Synear, Blumont, etc. SGX should thoroughly review and bring up its standard.
For your kind office consideration, thanks.
Look like LW is playing same game as delisting request to SGX from last year Oct to Aug this year. Delay the paperworks to submit to SGX so everybody have to wait for him while he take his time to write and sign the paper. This means LW can delay paying to everyone till next year even???
sgx is not an impartial authority. They also making money like the house in a casino. So many executives within MAS caught committing insider trading themselves.
roostertan ( Date: 06-Oct-2013 15:34) Posted:
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One of the better way of safeguarding minority shareholders is to instil a law that require any IPO newly listed company to put a big amount of deposit with MAS. This way will deter would-be fraudster from running away with shareholders money. If company abscond, the deposit can still pay-off investors. If such company would to delist, independent auditor will need to audit their accounts to determine a reasonable delist price. By putting this law in place, I am sure many foreign companies will be afraid to issue IPO in Singapore. Looking at the trails of s-chips, those china directors have already something fishy up their minds and pre-planned to cheat and abscond. But, wll the regulators keen to take such step is a question.
In my view, all delistings of stocks on the exchange is unfair and inequitable even though the decision to delist or not is put to vote by show of hands or by poll (audited by an independent concern).
This is because the public investors would not have full knowledge of whether the delisting is or not to their benefit in terms of their original investment. So they depend on others advise to make an influenced decision.
Many directors would schemed to delist when they know the company is heading towards strong profitability obvious or hidden, in the immediate future by looking at about to be signed awards, incoming windfalls and etc. Whereas we investors know nothing except any superficial factuals.
The market authority and the finacial governing authorities should do something that could help everybody by instituting laws or conditions for any listed company (after painful consideration of granting an IPO in the yesteryears) to pay not just the traded price, but a forward looking PE of say 5 to 10 times of it current traded PE number. Should the PE be zero or in the thousands, then probably a price equal to two times the 3 years averaged traded price or a price taken at the 3 year high of its trading history.
We know the SGX is always full of penalty and inequity for stock players in the market. They should also do the same to corporations who are out to use public funds when they are in need and then scoop away benefits from the public when their coffers are overflowing.
I even write to SGX to ask when will i get the payment since the share in cdp has transferred. the answer was asking me to refer the circular, after few times LW extend the last day acceptance offer, i even suan them (sgx)do nothing while synear keep extending and not make payment. No reply from SGX.
buaypangsai ( Date: 05-Oct-2013 23:50) Posted:
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If God is watching, may retribution fall unto him...
buaypangsai ( Date: 05-Oct-2013 23:50) Posted:
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LW is damn cunning. Damn. nothing we can do.
now keep delaying the payment.
Agreed. But as small investor, do we have a better choice not to accept the offer now? I have voted against delisting but now I have to accept the offer price even though is unfair. They given us the last day to accept if not consider got nothing. We don't have a choice any more.
buaypangsai ( Date: 04-Oct-2013 16:00) Posted:
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I AGREE with Mr David Lim Yoke Peng on the need to better protect small investors when companies delist (" Company delistings: Protect small investors" Wednesday).
In the case of Synear Food Holdings, the counter-intuitive " unfair but reasonable" opinion of the independent financial adviser arose because of the different benchmarks it used.
This led to " unfairness" when the exit offer was assessed using certain benchmarks but " reasonableness" when other benchmarks were considered. It is like saying I am tall when compared to jockeys but short when compared to basketball players.
This reflects the subjectivity inherent in valuations, which is often masked by the " independence" of the financial advisers and an illusion of " rigour" in methodology.
Perhaps there needs to be some guidance for independent financial advisers, on factors to be considered when choosing benchmarks.
In the Synear delisting, I am also puzzled as to why a group of minority investors gave an undertaking to vote in favour of the delisting but not to accept the exit offer. This group could have made a difference in the vote against delisting.
Are they being offered a different exit price and, if so, would that be in accordance with the letter and spirit of the voluntary delisting rules?
Mak Yuen Teen
LW just bot controlling stake of Dukang & likely to play same delisting game again over there. Now maybe he short of money as all park in Dukang. So maybe he playing delaying game with SGX by delaying submitting all required docs so he can delay paying all those who had submitted exit offer acceptance? LW running circle around SGX and minority shareholders, treating all as fools?
Dabian ( Date: 25-Sep-2013 16:24) Posted:
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Again tarik till end of Sep. When can we get back our money?????
Dabian ( Date: 20-Sep-2013 09:52) Posted:
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LW kept insisting biz very poor yet he has so much money to buy over Dukang???
http://video.xin.msn.com/watch/video/dukang-distillers-who-is-behind-purchase-of-43-stake/pfqvz2xg
Next to suffer LW scammming are Dukang minorities investors? Is LW going to do the same thing to Dukang by shorting it down to 12cts then force delisting?
tmd. chut stun ah
Dabian ( Date: 20-Sep-2013 09:52) Posted:
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LW extended the closing date, is it mean that still hold payment to us? To date haven't receive the fund. WTF.
happyharvest ( Date: 12-Sep-2013 21:24) Posted:
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Thks for the confirmation. Just posted mine out yesterday. I supposed there are only 3 things to do ? 1) No. of shares, 2) date 3) Signature
buaypangsai ( Date: 16-Sep-2013 23:34) Posted:
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dont need postage. anyway i kiasu kiasi...called cdp. They have processed mine. :D
dorish ( Date: 16-Sep-2013 20:58) Posted:
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Hi All
Can anyone help with this urgent question ?
Does the envelope given to us for the exit offer need any postage ?
I have sent it out without noticing whether postage is required.
thks