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freeman_5js ( Date: 20-Jul-2010 21:09) Posted:
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Subject to and upon the terms of the Subscription Agreement, the Subscriber has agreed to subscribe and pay for the New Shares at the price of S$0.095 for each New Share (the "Subscription Price").
the subscription of the New Shares will increase the existing issued share capital of the Company from S$111,729,613 comprising 775,671,962 Shares to S$127,295,363 comprising 939,521,962 Shares. The net assets per share of the Company as at 31 March 2010 was 14.1 cents. After adjusting for the issue of the New Shares, the Company's net assets per share would be 13.3 cents; and
the subscription of the Call Option Shares will increase the existing issued share capital of the Company from S$127,295,363 comprising 939,521,962 Shares (after adjusting for the issue of the New Shares) to S$141,830,363 comprising 1,092,521,962 Shares. The net assets per share of the Company as at 31 March 2010 was 14.1 cents. After adjusting for the issue of the New Shares and Call Option Shares, the Company's net assets per share would be 12.8 cents.HG Metal may take over by Oriental Castle Sdn Bhd
ISSUE OF NEW SHARES AND CALL OPTION SHARES
The New Shares and Call Option Shares to be issued pursuant to the Subscription Agreement represent approximately 40.85 per cent. (40.85%) of the issued share capital of the Company as at the date hereof, and approximately 29 per cent (29%) of the enlarged issued share capital of the Company.
woo breaking his resistant
haha finally some movement
hope it wont drop back
Despite lower sales volume, the Group recorded gross profit of $2.7 million in 2Q FY2010 as compared to gross loss of $8.4 million in 2Q FY2009. The profit turnaround was attributable to the rise in steel prices and better inventory management.
Results For The Financial Period
The Group had recorded a lower loss in 2Q FY2010 as compared to 2Q FY2009. The loss before tax of $0.8 million was due primarily to loss on sales of shares of BRC which was partly offset by profit generated from its manufacturing arm. Trading business reported a break even result for 2QFY10. It reflected a gradual improvement in the trading business after a difficult financial 2009 which saw a significant loss.Balance Sheet
The net assets of BRC was not consolidated in the Group’s balance sheet as at 31 March 2010 on a line by line basis. Nevertheless, the Group had a healthy balance sheet and the shareholders fund stood at $109.3 million. As at 31 March 2010, the Group’s inventory was $79.1 million, consistent with the Group’s decision to
adopt a conservative approach to inventory management amidst volatile market conditions. Trade and other receivables were $30.7 million as at 31 March 2010, consistent with lower sales revenue for the period under review. With the significant decline in bank borrowings and trade and other payables, current liabilities reduced
from $177.8 million as at 30 September 2009 to $71.9 million as at 31 March 2010. The Group’s gearing ratio stood at 0.47 times as at 31 March 2010.
Brother, not so simple one. Pls include the handling cost by the broking hse who help them to do the tansaction. If not broking hse and underwriter banks "jia sai", they need to pay salary to their employees.
Another issues, HG buy the 5 plots of land in JB at around S$24x million and they intend to sell at S$33x million. I cannot remember if this is successful and the whole transaction is it complete?
So let me ask you, on the book, they look attractive, in this land sale, what do you think, profit or loss ? Read up and you will know the full figure behind !
Trust me, entry point is at S$0.1 and below. Why be cokoo, when they place out at S$0.1 and we buy at above S$0.1 unless this is blue chips or some profit making company. Good Luck.
Really dont understand how come HG metal will suffer loses by selling BRC shares? According from the previous announcement, BRC currently worth 0.16 sen per share, and they sold it with 0.135 sen, so it said to be suffer 0.025 sen per share. But, actually the offer price of HG metal to take over BRC only 0.11 sen. That mean HG metal should earn 0.025 per share from the selling. Mr YAP XI MING is our only hope!!!!
HG Metal Manufacturing Limited
(Company Registration No. 198802660D)
(Incorporated in Singapore)
_________________________________________________________________________
APPOINTMENT OF YAP XI MING AS NON-EXECUTIVE CHAIRMAN
_________________________________________________________________________
Further to the announcement dated 26 April 2010, the Board of Directors of HG Metal
Manufacturing Limited (the “Company”) wishes to announce that Mr Yap Xi Ming has been
appointed as a Non-Executive Chairman of the Company with effect from 4 May 2010.
By Order of the Board
Foong Lee Heng
Company Secretary
4 May 2010
knightrider ( Date: 05-May-2010 09:27) Posted:
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Wait longer time ! read this :-
Profit Guidance
For the Financial Period Ended: 31-03-2010
AFTER A PRELIMNARY REVIEW OF THE 2ND QUARTER ('2Q FY2010") UNAUDITED FINANCIAL RESULTS OF THE GROUP FOR FINANCIAL PERIOD ENDED 31 MARCH 2010, THE COMPANY DEEMS IT APPROPRIATE TO ISSUE A PROFIT WARNING IN RESPECT OF THE RESULTS OF 2Q FY2010.
THE GROUP EXPECTS TO REPORT A LOSS WHICH WAS ATTRIBUTABLE TO THE LOSS OF SALE OF SHARES IN BRC ASIA LIMITED. THE LOSS, TOTALING $1.9 MILLION, WAS HIGHLIGHTED IN THE COMPANY'S ANNOUNCEMENTS DATED 23 FEBRUARY 2010 AND 6 MARCH 2010.
THE COMPANY EXPECTS TO ANNOUNCE ITS UNAUDITED FINANCIAL STATEMENTS FOR 2Q FY2010 AND DETAILS OF ITS PERFORMANCE ON 12 MAY 2010.
abc2020 ( Date: 26-Apr-2010 21:21) Posted:
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(Company Registration No. 198802660D)
(Incorporated in Singapore)
_________________________________________________________________________
APPOINTMENT OF YAP XI MING AS NON-EXECUTIVE DIRECTOR
_________________________________________________________________________
The Board of Directors (the “Board”) of HG Metal Manufacturing Limited (the “Company”)
wishes to announce that Mr Yap Xi Ming has been appointed as a Non-Executive Director of
the Company with effect from 26 April 2010.
The information relating to the appointment of Mr Yap Xi Ming as a non-executive and non-
independent director will be announced separately.
By Order of the Board
Foong Lee Heng
Company Secretary
26 April 2010