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Ying Li
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shadow
Veteran |
15-Apr-2019 15:33
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likely " open market transfer" by one of their own proxy ' concerted parties' .. Think CEL will have holding of more then 75% after this " buy-out" exercise. What' s next ? Going to propose voluntary delisting & exit offer ?
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guards80
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15-Apr-2019 15:20
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Someone unload at 139? | ||||
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bobiewong
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12-Apr-2019 11:18
Yells: "Good Time Ahead" |
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Any one knows what is the future of this company Ying Li, with this new management CEL? They just want a stand still at SGD 0.140, with the blockage at S$0.139.
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Observers
Elite |
09-Apr-2019 08:33
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How come KPMG again? They planning to exit SG business in the near future?
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shadow
Veteran |
09-Apr-2019 01:21
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Who said cannot ,just most recent Feb19 Court Asia KPMG IFA given a ?Not Fair but Reasonable? offer 20.5ct , then majority shareholders got above 90% to compulsory acquired it not revising the offer price. Another typical example forcing minority shareholders to give in. SGX has not implement its proposed changes to the rule yet so many majority shareholders are likely to take advantage of the existing loopholes !
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Observers
Elite |
08-Apr-2019 21:50
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Cannot " not fair but reasonable" anymore, SGX new ruling on IFA recommendations, must be a clear " yes" accept or " no" don' t accept. I expect the IFA to say the offer is not fair and unreasonable and to recommend shareholders to reject the offer. Else I expect the IFA to challenge the audited NAV.
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Qanghoo
Supreme |
08-Apr-2019 21:30
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You have a valid pt. Who knows what monkey business goes on in the backgrd.
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shadow
Veteran |
08-Apr-2019 18:54
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SGX has loopholes everywhere ! | ||||
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shadow
Veteran |
08-Apr-2019 18:52
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I doubt the IFA can be indpendently appointed ! YL board comprised a member of CEL - James Pan (He is representing the major shareholders CEL controlling interest in YL) already a conflict of interest & influence ! Can the board consider ' independent' if a board member representation the majority shareholder interest ' Offeror' to appoint a ' truly' independent IFA to do their job? IFA should be appointed by a true ' Independent' body which has no vested interest / conflict of interest in the first place to be consider " independent" . In fact all such Takeover Offer with IFA assessment should be best appointed by SGX (truly independent) with no conflict of interest for IFA to perform their ' due diligence' and IFA can do independent assessment without ' fear' or favour' ... In other words , IFA appointed by SGX (not Board) ! |
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shadow
Veteran |
08-Apr-2019 18:33
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Please IFA asked CEL to up its offer price to all stake holders, and don' t take us for a ride ! |
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shadow
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08-Apr-2019 18:30
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Appointment of Independent Financial Adviser The Board will, in connection with the Offer, appoint an independent financial adviser (the &ldquo IFA&rdquo ) in due course to advise the directors of the Company (the &ldquo Directors&rdquo ) who are considered independent for the purposes of the Offer (the &ldquo Independent Directors&rdquo ). All the Wayang Again ? SGX please look into this Yingli Offer again ... IFA please really do your independent assessment, and ID don' t come up with crap recommendation like " NOT FAIR BUT REASONABLE" and propose to " Accept" the offer ! |
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sbscap
Master |
07-Apr-2019 15:30
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How to check? Willing buyer, willing seller. Both sides just say they are not aware of anything else. Accept that the GO is 14c and stick to your strategy.
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bobiewong
Member |
06-Apr-2019 19:57
Yells: "Good Time Ahead" |
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Precisely, you are short chain to believe that it is 14 cents. If regulator does not check such a deal, there will be tricky transactions and many minor share holders will be at the losing end. You may have gain if you have purchased at 10 cents. But there may be many others who have bought at higher price level. If regulator does not do their checks, there will be many tricks that major share holders can do to siphon out money from the minority share holders. If this is the case, SGX will become a place where the whales eat the sharks, the sharks eat the small fishes. Then small share holders should not be in this game at all. | ||||
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Leohuat88
Veteran |
06-Apr-2019 17:51
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tell that to those moms and pops that bought over 40cts. lol
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sbscap
Master |
06-Apr-2019 14:39
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I' m not sure what is all the fuss is about. You have some China-man selling cheap to an SOE and we are complaining. I will be worried if he sells to some unknown person or company, One may question why Fang is so stupid. But we don' t know many things. For instance, he could be just a proxy for CEL and hence he didn' t lose anything. Or maybe he has another deal, which taken collectively, makes financial sense. Or maybe he has some terrible illness or needs money very urgently. Whatever the reason is, CEL, just like any shareholder, wants to buy cheap. 14c is cheap? Compared to NAV, yes. But maybe we also don' t know why it is cheap. Maybe Fang is not able to do many things. With CEL, things either remain the same or will be better. With CEL, the expensive interests for the perpetuals are partly paid by CEL. With this GO at 14c, the share price' s low has been marked. I bought some shares below 10c and gained 40%. I' m not complaining. | ||||
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Observers
Elite |
06-Apr-2019 13:19
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Just making a wild wild guess. Maybe as a condition for China Everbright' s involvement many many moons ago, they want a first right of refusal to buy over Fang Ming' s stake in Yingli at the prevailing market price after a certain period of time? And now is the time and the prevailing market price just happens to be 14 cents thereabout? Just making wild guesses only. God knows whats going on behind the scenes.
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Leohuat88
Veteran |
06-Apr-2019 11:36
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Complain here useless., you should write to sgx Mas police and CaD.
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shadow
Veteran |
06-Apr-2019 11:32
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Is there something all minority shareholders don' t know? Is Yingli another Hylfux overnight goint to do a huge impairment ? Can SGX launch a special audit to look ito the offer , why 44cts CEO sell 14 cts only ? Did the auditor not flag up anything ' suspicious' on the true & fair value of the NAV? Did the auditor do its job like what happen to Hyflux not highlighting any red flag? The 14cts value offer by CEL is ia a signal of a " crisis" , " write-off" or huge " impairment" to come for Yingli? There are alot of unanswered questions pertaining to this deal . As SGX regulator , shouldn' t SGX question on the ' motives' of the offer to enable a more fair & transparent market to function and launch an special audit to look into the huge ' discounted' offer? Is SGX a fair , open & transparent market as it claim to be establishing here to instill public confident in the market? We small investors are relying on the public disclosure information on SGX website to make informed decision to invest. If disclosure information on SGX website are not reasonably suspected to be not ' true' & not ' fair' , not ' open' & not ' transparent' then what is the role of SGX then ? Should SGX investigate or query?
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bobiewong
Member |
06-Apr-2019 10:51
Yells: "Good Time Ahead" |
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The end 2018 Book Asset Value of Yingli was reported above SGD 0.40. We suppose this is the asset holding of Yingli, which includes the managing properties and land plot for future development. Such asset value does not deplete over night. Why would Mr Fang Chairman of Yingli sells away his major share to Everbright at SGD 0.140?
As a minority share holder, we buy the share base on the our judgement on the company valuation. We also buy shares base on future expectation.
Today share value does not reflect the actual value of the company. That is why long term investor buy today for the future.
Will the chairman be so stupid to give away his assets worth SGD 0.40 for SGD 0.14? Or he has benefited in other way from the buyer outside of this deal.
Should Ying Li sell away all the assets, will he get SGD 0.40 or more (not forgetting properties / land plot prices have risen over time)?
Everbright can say they bring value to the company, but this value is future promise. The value of the company is decided today. Why would chairman Mr Fang give away all his share for a promise by Everbright that will not benefit him at all (as he has no more shares in the company).
When the chairman sells his own majority shares at SGD 0.140, in a way he is fixing the price of Yingli today, and all the benefits will go to the buyer.
I hope SGX will look into this matter and offer your analysis and views to the minority share holders.
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Observers
Elite |
06-Apr-2019 08:35
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Personally, I' d prefer China Everbright (SOE) to be in the controlling seat. After all, Chongqing was once under the fallen Bo Xilai (ex-Party Sec of Chongqing). How can anyone do any major business in Chongqing without having an ounce of relationship with him, a person targetted by the uppermost echelon of power in China? Now that Yingli is officially a subsidiary of China Everbright, any past political concerns with this business entity should have been wiped clean. |
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