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So if privatization where to happen, at what level do I think he could be contemplating at? Seriously, I am such a moron to have asked that question….. of coz as CHEAP as possible lah. Lol.
If I had to guess, maybe betw 28 – 30 cents. So, can he pull it off right now if he tried? Looking at his major shareholder’s structure and at current share price. Tough.
So How then? Well, I can’t speak for him. But if it were me, I would need a multi prong approach, as well as professional help to be able to pull this off. Will get to this after lunch.
Yup, confirmed the buying was mr Popular. Plus some for the open market. Total 3.9million.
Since early Apr, he has bought back almost 23million shares.
3.46million shares just transacted thru marry deal at $0.23.
IMHO, Can't be Mr Popular buying directly lah. I don't believe it. I guess we'll ve to wait 1 or 2 days to find out.....
Interesting, insider buy at $2.33-36.
Well, company NOT making profit and a drop in rev recently. Then why the insider buy? Price is quite high for 52 week.....
I guess going private seem like a good way to look at it.
So Do I think that will ever happen? Are u kidding me? OF COURSE NOT LAH!!! Haha
Ask u this, even if he was comtemplating to sell him business, do u think he's going to share the benifits of the sale with the 40% of us? Other standup guys like FIex Ong of Seksun will.
As for mr Popular leh, he will likely buy us out first Cheap Cheap than Sell lah. Haha.
So why o why did he bring in these 2 Capital markets/ equity Chaps????
Alamak, told u all sooooo many times leow...... PRIVATISATION Lor!!!!
Potential sale of the company? Starting to smell like it.
That old fox damn kan (cunning) man. Just 1 day after the AGM he appoints not ONE but TWO Capital/ Equity Markets expert as independent directors. Why leh? So that no one can question him at the AGM why he is doing so?
So why you think he brought 2 Capital Markets experts in for? He has made do with the 2 dinosaurs, Vangat and Lim, for eons. Plus he is such a miser. You think he will go out and spend money to bring in another 2 directors? For fun huh? Becoz he’s bored and need more kakis to Lim Kopi?
Who knows, maybe your right, maybe he is exploring the sale of the company, maybe he is thinking of succession planning, afterall, he’s 71 and not young anymore and with the fallout betw father and son, you never know…. In any case, these 2 guys, with their Capital markets and private equity links, would have the knowhow and contacts to explore, negotiate, broker and arrange the necessary financing for such a deal.
So how much you think he is willing to sell the company for? 60 -70 cents a share? I think at least that.
propertyinvestor ( Date: 13-Mar-2012 09:37) Posted:
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ah_huat ( Date: 13-Sep-2011 14:44) Posted:
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Yup bro, agree with you. don't smell good at all.
You know what it smells like? ...... PRIVATISATION! lol
GuavaXF30 ( Date: 09-Sep-2011 16:30) Posted:
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ah_huat ( Date: 08-Sep-2011 15:22) Posted:
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BTW brudder, the rights issue happened more than 1 1/2 years before the Borders fiasco. So unless they have a crystal ball...
Joe2020 ( Date: 08-Sep-2011 13:06) Posted:
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So what was the rights issue REALLY for?
Now, that’s a question minority shareholders should really be asking hor…
So when the next AGM comes up, I hope u guys know what to do when it come to resolution 9 hor..... hopefully.
I wonder where the Independent directors were on this? Zzzzzzz
Rights issue is necessary for shareholder to share the burden of buying Borders which is in their pipeline. If Borders purchased is going to be a liability, atleast the T& C is clear....shareholders who take up the rights cannot say anything...no one force them.
Selling hard copies is already become thing of the past...people are now more savy and turn to digital copies
ah_huat ( Date: 08-Sep-2011 12:54) Posted:
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Let me put that question to rest....
Exactly 1 year on (3rd quarter ending Jan 2011), their NET CASH POSITION rose to $88m!! And that’s after having paid out $10m in dividend!
Even if we took out the net proceeds from the rights issue of $25m, they would have a net cash position of $63m.
That’s a year on year increase of $16m without the help of proceeds from that rights issue.
Wai piang! Their cashflow projection that Aw mei?
So was the rights issue really necessary? Lets break it down and have a look.
The lodgement of OIS for the rights issue was on
Without the rights proceeds, they already reported a CASH POSITION of $76.7m. That’s even after reporting a year on year reduction in net debt totalling $37.7m!
Plus, a NET CASH POSITION of almost $47m!
Someone might still think " Ya, but then maybe they need it mah?" ....
ah_huat ( Date: 08-Sep-2011 11:48) Posted:
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Before I carry on. let me touch on their latest rights issue. So was their latest rights issue really necessary? IMHO, no hor.
Before I start, Let me give u the event timeline just before and after this rights issue.
- April 2009. Company Secretary quit.
26 June 2009 , reported full yr numbers ending April 2009. This includes a massive writedowns of $31.2m. Were these writedowns necessary? IMHO. No. Will get to this later.
- On same day,
26 June 2009 , reported strong sales of One Robin with expected strong future cash inflows.
31 Aug 2009 . CFO quit.
14 Jan 2010 . Lodgement of OIS for 3 for 10 rights issue at 30% discount to closing price. Total net proceeds fr rights issue = $25m.
19 Jan 2010 . Announce notice for book closure for dividend, i.e. details of dividend payment. Closure date entitles rights holders to also enjoy dividend. HUH?? Total estimated dividend paid out = 841.1m shares x 1cent =$8.4m. HUH??
19 Feb 2010 . CFO quit.
So here’s my question… WTF was the rights issue for? To pay dividend? That’s a third of rights proceeds hor.
As my Taiwanese friend always says…. Something smells like “Chou Tou Fu” (smelly beancurd). Hmmmm… feeling a bit hungry now. lol
ah_huat ( Date: 19-Aug-2011 08:39) Posted:
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