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unclebond Master	11-Nov-2022 07:57        unclebond About Contact  Quote this Post!
x 0   x 0  Alert Admin	Why SAD DAY? Amateurinvestor      ( Date: 11-Nov-2022 07:46) Posted: Today expecting will be a very sad day as Dow jones flying, all Singapore stocks except this YZJFH will fly too as YZJFH still growing wings
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Amateurinvestor Veteran	11-Nov-2022 07:46        Amateurinvestor About Contact  Quote this Post!
x 0   x 0  Alert Admin	Today expecting will be a very sad day as Dow jones flying, all Singapore stocks except this YZJFH will fly too as YZJFH still growing wings
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vicloo Supreme	11-Nov-2022 07:19        vicloo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Words are cheap... See if have good financial results coming 🙄 and div. When is release date? GGTTAANN      ( Date: 11-Nov-2022 06:34) Posted: Thanks for Sharing, Certainly give us a lot of confidence to hold on to the FH share.
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GGTTAANN Senior	11-Nov-2022 06:34        GGTTAANN About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thanks for Sharing, Certainly give us a lot of confidence to hold on to the FH share.
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HVRRVH Elite	11-Nov-2022 02:52        HVRRVH About Contact  Quote this Post!
x 0   x 0  Alert Admin	Quite a comprehensive insight. Ren has track records and as a shareholders, now we can only wait for him to work hard on his vision and realise the goals for the company and shareholders. 3 years down the road 70 cents I will be happy already as that will double my gain.  volvo125      ( Date: 11-Nov-2022 00:50) Posted: Latest paid YFH article from The Edge Singapore, 11 Nov 2022. Yangzijiang Financial&rsquo s Ren readies share purchases upon buybacks hitting mandate cap Ren says the maritime fund melds his expertise in shipbuilding and financing, and Yangzijiang Financial will be like &lsquo a tiger with wings&rsquo / Photo: The Edge Singapore Ren Yuanlin, executive chairman of Yangzijiang Financial Holding (YZJFH), is miffed that investors are not appreciating the value of his company. The investment company started trading at 69 cents on April 29, after it was spunoff by Yangzijiang Shipbuilding (Holdings). It has been dropping steadily since to as low as 31 cents on Oct 31, and to close at 34 cents on Nov 9. The share price has been &ldquo chopped at the waist&rdquo , laments Ren in an interview with The Edge Singapore. On June 8, YZJFH had announced a commitment to spend up to $200 million to buy back shares. It promptly started doing so on June 9, paying 51 cents for one million shares &mdash only for the share price to slip further. As at Oct 31, the company has spent $99 million to buy back 259.6 million shares, equivalent to 6.6% of the total share base of 3.95 billion shares. This makes YZJFH closing in on the 10% buyback mandate cap allowed in a year under a normal mandate. If the share price stays at this level, and if the company continues buying up to the cap, there will be an estimated $60 million to spare from the $200 million committed. The share price started dropping, as investors such as US fund manager T Rowe Price cut its stake. On the other hand, YZJFH&rsquo s CEO Vincent Toe and two of the three independent directors, Chew Sutat and Chua Kim Leng, had at various times bought shares from the market. However, Ren, the single largest shareholder with a direct stake of 21.6% (or more, if deemed stakes such as the 4.2% held by his son Ren Letian are included), has not followed suit thus far. When asked, Ren says that once the 10% mark is reached, he is prepared to move in and increase his personal stake, while seeking another mandate from shareholders to continue the buyback. Ren notes that the share price, at current levels, is just a fraction of YZJFH&rsquo s book value of $1.07 as at June 30. &ldquo You are paying just 30 cents to buy $1 worth of assets.&rdquo He also reiterates the company&rsquo s dividend policy of paying out at least 40% of its earnings for FY2022 to FY2024. From FY2019 to FY2021, the company&rsquo s earnings per share (EPS) were 8.72 cents, 8.13 cents and 8.28 cents respectively. Assuming an EPS of 8 cents, with a payout ratio of 40%, will mean a dividend of 3.2 cents, which will translate into a yield of 9.41% at 34 cents. &ldquo This is a more generous dividend policy than 90% of all Singapore-listed companies,&rdquo claims Ren. In its first post-listing report card on Aug 11, the company says that for 1HFY2022 ended June 30, earnings came in at $136.4 million, down 30.6% y-o-y. Total income was $173.8 million, down 27.3% y-o-y. The company explains that the drop was due to fair value changes on equity financial assets following weakness in financial markets. For the whole of FY2021, earnings reached $327.2 million on a total income of $384.8 million. In a previous interview with The Edge Singapore, Ren explains that the spin-off was partly because investors prefer either pureplay shipbuilders or financial firms, but not something like YZJ Shipbuilding which was both. Ren notes that prior to the spin-off, YZJ Shipbuilding&rsquo s share price was around $1.20. Under terms of the spin-off, YZJ Shipbuilding shareholders received a YZJFH share for each YZJ Shipbuilding share they hold. Both YZJFH and YZJ Shipbuilding&rsquo s share prices may have come down, but if they are added together, there is still a gain. &ldquo I don&rsquo t regret the restructuring,&rdquo maintains Ren. Economy of two halves Ren believes there are a few reasons why investors have shunned the stock. Firstly, YZJFH is perceived by investors as a China stock, and along with that come all the worries and pessimism towards this market. It did not help that as a result of investments made and loans meted out previously, YZJFH now has exposure to China&rsquo s property sector, which is under stress because of government policies. In addition, global markets &mdash not just China &mdash are on a downtrend as investors fret over the multitude of negative factors including rate hikes, inflationary fears and overall recessionary worries amid rising geopolitical tension. Ren points out that despite the lowered GDP numbers, China&rsquo s economy is still enjoying moderate growth, with the World Bank forecasting 2022 growth of 2.8%. Not many developed economies can claim the same pace, he says. Nonetheless, he acknowledges that China&rsquo s overall economy and markets are fraught with uncertainties. For one, the strict zero-Covid policy, which has curbed economic activity, is likely to remain in place. The geopolitical tension with the US, plus the perennial issue of how Taiwan is to be re-unified, continues to add complexities to the decision making of businesses and investors. Ren notes that internally, China&rsquo s economy is seen to consist of two diametrical halves. The first half comprises industries either being curbed because of government policies, or suffering from intense competition with one another in the similar fields. The other half of the economy, however, enjoys a vast, growing market potential &mdash a blue ocean, so to speak. Areas such as clean energy, big data, and AI are those that YZJFH will be looking more closely at. Tiger with wings Ren is especially optimistic about the potential growth of ship financing and leasing as a growth area for YZJFH. After all, this is familiar ground for him. Back when he was running YZJ Shipbuilding, which he did for decades before handing the reins over to Letian, he was already actively involved in related financing activities, such as facilitating the sale and leaseback of vessels. This business is similar to the aircraft leasing model, where airlines do not own the planes but instead lease the planes from specialised firms. Within this space, Ren sees more opportunities. YZJ Shipbuilding used to focus on building bulk carriers and container ships. On Oct 26, YZJ Shipbuilding announced that it has broken into the &ldquo lucrative&rdquo market for building liquefied natural gas carriers, with two orders placed by an unnamed European customer for an undisclosed sum, bringing its total order book to a record of more than US$10 billion ($14 billion). The market for these specialised vessels is now a stronghold of the Korean yards. To him, ship financing and leasing is a business that melds his expertise, and he is confident this is a &ldquo bright spot&rdquo for YZJFH. &ldquo We will be like a tiger with wings,&rdquo says Ren. To this end, YZJFH has set up a maritime-focused fund with an initial fund size of US$250 million. Of this, the company has committed US$100 million, with the remaining US$150 million to be raised from other parties. &ldquo I&rsquo ve changed from a shipbuilder, to an investor of shipbuilding,&rdquo says Ren. Other funds under YZJFH include the ICH Gemini Asia Growth Fund, with $120 million under AUM the GEM Tech Holding VCC, which has an expected size of $217 million the Golden Ox Fund VC, which is expected to have $36 million. The GEM Asia Growth Fund, meanwhile, will have an initial expected fund size of $100 million, with YZJFH itself chipping in $80 million and $20 million to be raised from other investors. In the pipeline are also several other funds, focusing on private equity or fixed income, and with different investment strategies ranging from growth and tech companies, cleantech companies, unicorn opportunities and absolute returns. Tapping the Jiangyin base Setting up these funds is a conscious move on YZJFH&rsquo s part to move a bigger proportion of its assets to be redeployed outside China and to also diversify the allocation of the funds to other asset classes. YZJFH&rsquo s assets were dominantly in the form of short-term loans of one year or so, to local SMEs within China. One reason Ren has listed YZJFH in Singapore is so that he can make use of Singapore as an international financial services platform to try and capture businesses outside China. As at Dec 31, 2021, the company&rsquo s debt and equipment investments portfolio stood at 83% and 17% respectively. As at June 30, the debt investments portfolio has been reduced to just 57% of the total, as the company redeployed funds from short-term loans that have matured. Cash and so-called &ldquo yield enhancement&rdquo products and equity investments constituted 29% and 14% of the total portfolio. As at June 30, 11% of the assets are outside China, largely in Singapore. The plan is to gradually increase the proportion to 20%, then 40%, before having an equal split eventually. Besides investing its own funds, and to form joint ventures with other investors, YZJFH believes it can grow a significant wealth management platform too. Ren&rsquo s optimism with the wealth management business stems from his familiarity with the city of Jiangyin, where YZJ Shipbuilding is based. Ren points out that Jiangyin and the surrounding region are home to some 600 listed companies &mdash versus the total of some 5,000 listed companies in the whole of China. The owners and shareholders of these companies, many of whom he knows, are potential clients for YZJFH&rsquo s wealth management business. So far, YZJFH has signed an agreement to provide investment advisory services for an unnamed family office, with an AUM of $500 million. YZJFH is in the midst of applying for the Qualified Domestic Limited Partnership (QDLP) programme, which allows foreign and domestic Chinese asset managers to raise Chinese yuan from high-net-worth and institutional investors in China to be channelled towards offshore investments through a Chinese product or fund. According to YZJFH, for an offshore entity to participate in the QDLP programme, it will first have to apply for the &ldquo QDLP allocation quota&rdquo from the local authority, which it has already obtained. To utilise its allocated quota, YZJFH is seeking a licence under the Asset Management Association of China (AMAC) and be registered as a QDLP manager. YZJFH can also repatriate funds via dividend payments, of which full provision for the withholding tax has been made. Now, with all the uncertainty in China, is Ren perhaps already considering to have the majority of the assets deployed outside China, instead of an equal split? Ren says that the move from 10% to 20% is already a one-fold increase, and thus this shift has to be carried out in a steady manner. &ldquo Let us do so one step at a time,&rdquo he says. For now, Ren wants to address the market&rsquo s perception. &ldquo We hope to show we&rsquo ve put in the effort, and show investors the intrinsic value of our shares.&rdquo
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PiRPiR Master	11-Nov-2022 01:32        PiRPiR About Contact  Quote this Post!
x 0   x 0  Alert Admin	Tks volvo125      ( Date: 11-Nov-2022 00:50) Posted: Latest paid YFH article from The Edge Singapore, 11 Nov 2022. Yangzijiang Financial&rsquo s Ren readies share purchases upon buybacks hitting mandate cap Ren says the maritime fund melds his expertise in shipbuilding and financing, and Yangzijiang Financial will be like &lsquo a tiger with wings&rsquo / Photo: The Edge Singapore Ren Yuanlin, executive chairman of Yangzijiang Financial Holding (YZJFH), is miffed that investors are not appreciating the value of his company. The investment company started trading at 69 cents on April 29, after it was spunoff by Yangzijiang Shipbuilding (Holdings). It has been dropping steadily since to as low as 31 cents on Oct 31, and to close at 34 cents on Nov 9. The share price has been &ldquo chopped at the waist&rdquo , laments Ren in an interview with The Edge Singapore. On June 8, YZJFH had announced a commitment to spend up to $200 million to buy back shares. It promptly started doing so on June 9, paying 51 cents for one million shares &mdash only for the share price to slip further. As at Oct 31, the company has spent $99 million to buy back 259.6 million shares, equivalent to 6.6% of the total share base of 3.95 billion shares. This makes YZJFH closing in on the 10% buyback mandate cap allowed in a year under a normal mandate. If the share price stays at this level, and if the company continues buying up to the cap, there will be an estimated $60 million to spare from the $200 million committed. The share price started dropping, as investors such as US fund manager T Rowe Price cut its stake. On the other hand, YZJFH&rsquo s CEO Vincent Toe and two of the three independent directors, Chew Sutat and Chua Kim Leng, had at various times bought shares from the market. However, Ren, the single largest shareholder with a direct stake of 21.6% (or more, if deemed stakes such as the 4.2% held by his son Ren Letian are included), has not followed suit thus far. When asked, Ren says that once the 10% mark is reached, he is prepared to move in and increase his personal stake, while seeking another mandate from shareholders to continue the buyback. Ren notes that the share price, at current levels, is just a fraction of YZJFH&rsquo s book value of $1.07 as at June 30. &ldquo You are paying just 30 cents to buy $1 worth of assets.&rdquo He also reiterates the company&rsquo s dividend policy of paying out at least 40% of its earnings for FY2022 to FY2024. From FY2019 to FY2021, the company&rsquo s earnings per share (EPS) were 8.72 cents, 8.13 cents and 8.28 cents respectively. Assuming an EPS of 8 cents, with a payout ratio of 40%, will mean a dividend of 3.2 cents, which will translate into a yield of 9.41% at 34 cents. &ldquo This is a more generous dividend policy than 90% of all Singapore-listed companies,&rdquo claims Ren. In its first post-listing report card on Aug 11, the company says that for 1HFY2022 ended June 30, earnings came in at $136.4 million, down 30.6% y-o-y. Total income was $173.8 million, down 27.3% y-o-y. The company explains that the drop was due to fair value changes on equity financial assets following weakness in financial markets. For the whole of FY2021, earnings reached $327.2 million on a total income of $384.8 million. In a previous interview with The Edge Singapore, Ren explains that the spin-off was partly because investors prefer either pureplay shipbuilders or financial firms, but not something like YZJ Shipbuilding which was both. Ren notes that prior to the spin-off, YZJ Shipbuilding&rsquo s share price was around $1.20. Under terms of the spin-off, YZJ Shipbuilding shareholders received a YZJFH share for each YZJ Shipbuilding share they hold. Both YZJFH and YZJ Shipbuilding&rsquo s share prices may have come down, but if they are added together, there is still a gain. &ldquo I don&rsquo t regret the restructuring,&rdquo maintains Ren. Economy of two halves Ren believes there are a few reasons why investors have shunned the stock. Firstly, YZJFH is perceived by investors as a China stock, and along with that come all the worries and pessimism towards this market. It did not help that as a result of investments made and loans meted out previously, YZJFH now has exposure to China&rsquo s property sector, which is under stress because of government policies. In addition, global markets &mdash not just China &mdash are on a downtrend as investors fret over the multitude of negative factors including rate hikes, inflationary fears and overall recessionary worries amid rising geopolitical tension. Ren points out that despite the lowered GDP numbers, China&rsquo s economy is still enjoying moderate growth, with the World Bank forecasting 2022 growth of 2.8%. Not many developed economies can claim the same pace, he says. Nonetheless, he acknowledges that China&rsquo s overall economy and markets are fraught with uncertainties. For one, the strict zero-Covid policy, which has curbed economic activity, is likely to remain in place. The geopolitical tension with the US, plus the perennial issue of how Taiwan is to be re-unified, continues to add complexities to the decision making of businesses and investors. Ren notes that internally, China&rsquo s economy is seen to consist of two diametrical halves. The first half comprises industries either being curbed because of government policies, or suffering from intense competition with one another in the similar fields. The other half of the economy, however, enjoys a vast, growing market potential &mdash a blue ocean, so to speak. Areas such as clean energy, big data, and AI are those that YZJFH will be looking more closely at. Tiger with wings Ren is especially optimistic about the potential growth of ship financing and leasing as a growth area for YZJFH. After all, this is familiar ground for him. Back when he was running YZJ Shipbuilding, which he did for decades before handing the reins over to Letian, he was already actively involved in related financing activities, such as facilitating the sale and leaseback of vessels. This business is similar to the aircraft leasing model, where airlines do not own the planes but instead lease the planes from specialised firms. Within this space, Ren sees more opportunities. YZJ Shipbuilding used to focus on building bulk carriers and container ships. On Oct 26, YZJ Shipbuilding announced that it has broken into the &ldquo lucrative&rdquo market for building liquefied natural gas carriers, with two orders placed by an unnamed European customer for an undisclosed sum, bringing its total order book to a record of more than US$10 billion ($14 billion). The market for these specialised vessels is now a stronghold of the Korean yards. To him, ship financing and leasing is a business that melds his expertise, and he is confident this is a &ldquo bright spot&rdquo for YZJFH. &ldquo We will be like a tiger with wings,&rdquo says Ren. To this end, YZJFH has set up a maritime-focused fund with an initial fund size of US$250 million. Of this, the company has committed US$100 million, with the remaining US$150 million to be raised from other parties. &ldquo I&rsquo ve changed from a shipbuilder, to an investor of shipbuilding,&rdquo says Ren. Other funds under YZJFH include the ICH Gemini Asia Growth Fund, with $120 million under AUM the GEM Tech Holding VCC, which has an expected size of $217 million the Golden Ox Fund VC, which is expected to have $36 million. The GEM Asia Growth Fund, meanwhile, will have an initial expected fund size of $100 million, with YZJFH itself chipping in $80 million and $20 million to be raised from other investors. In the pipeline are also several other funds, focusing on private equity or fixed income, and with different investment strategies ranging from growth and tech companies, cleantech companies, unicorn opportunities and absolute returns. Tapping the Jiangyin base Setting up these funds is a conscious move on YZJFH&rsquo s part to move a bigger proportion of its assets to be redeployed outside China and to also diversify the allocation of the funds to other asset classes. YZJFH&rsquo s assets were dominantly in the form of short-term loans of one year or so, to local SMEs within China. One reason Ren has listed YZJFH in Singapore is so that he can make use of Singapore as an international financial services platform to try and capture businesses outside China. As at Dec 31, 2021, the company&rsquo s debt and equipment investments portfolio stood at 83% and 17% respectively. As at June 30, the debt investments portfolio has been reduced to just 57% of the total, as the company redeployed funds from short-term loans that have matured. Cash and so-called &ldquo yield enhancement&rdquo products and equity investments constituted 29% and 14% of the total portfolio. As at June 30, 11% of the assets are outside China, largely in Singapore. The plan is to gradually increase the proportion to 20%, then 40%, before having an equal split eventually. Besides investing its own funds, and to form joint ventures with other investors, YZJFH believes it can grow a significant wealth management platform too. Ren&rsquo s optimism with the wealth management business stems from his familiarity with the city of Jiangyin, where YZJ Shipbuilding is based. Ren points out that Jiangyin and the surrounding region are home to some 600 listed companies &mdash versus the total of some 5,000 listed companies in the whole of China. The owners and shareholders of these companies, many of whom he knows, are potential clients for YZJFH&rsquo s wealth management business. So far, YZJFH has signed an agreement to provide investment advisory services for an unnamed family office, with an AUM of $500 million. YZJFH is in the midst of applying for the Qualified Domestic Limited Partnership (QDLP) programme, which allows foreign and domestic Chinese asset managers to raise Chinese yuan from high-net-worth and institutional investors in China to be channelled towards offshore investments through a Chinese product or fund. According to YZJFH, for an offshore entity to participate in the QDLP programme, it will first have to apply for the &ldquo QDLP allocation quota&rdquo from the local authority, which it has already obtained. To utilise its allocated quota, YZJFH is seeking a licence under the Asset Management Association of China (AMAC) and be registered as a QDLP manager. YZJFH can also repatriate funds via dividend payments, of which full provision for the withholding tax has been made. Now, with all the uncertainty in China, is Ren perhaps already considering to have the majority of the assets deployed outside China, instead of an equal split? Ren says that the move from 10% to 20% is already a one-fold increase, and thus this shift has to be carried out in a steady manner. &ldquo Let us do so one step at a time,&rdquo he says. For now, Ren wants to address the market&rsquo s perception. &ldquo We hope to show we&rsquo ve put in the effort, and show investors the intrinsic value of our shares.&rdquo
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volvo125 Master	11-Nov-2022 00:50        volvo125 About Contact  Quote this Post!
x 1   x 0  Alert Admin	Latest paid YFH article from The Edge Singapore, 11 Nov 2022. Yangzijiang Financial&rsquo s Ren readies share purchases upon buybacks hitting mandate cap Ren says the maritime fund melds his expertise in shipbuilding and financing, and Yangzijiang Financial will be like &lsquo a tiger with wings&rsquo / Photo: The Edge Singapore Ren Yuanlin, executive chairman of Yangzijiang Financial Holding (YZJFH), is miffed that investors are not appreciating the value of his company. The investment company started trading at 69 cents on April 29, after it was spunoff by Yangzijiang Shipbuilding (Holdings). It has been dropping steadily since to as low as 31 cents on Oct 31, and to close at 34 cents on Nov 9. The share price has been &ldquo chopped at the waist&rdquo , laments Ren in an interview with The Edge Singapore. On June 8, YZJFH had announced a commitment to spend up to $200 million to buy back shares. It promptly started doing so on June 9, paying 51 cents for one million shares &mdash only for the share price to slip further. As at Oct 31, the company has spent $99 million to buy back 259.6 million shares, equivalent to 6.6% of the total share base of 3.95 billion shares. This makes YZJFH closing in on the 10% buyback mandate cap allowed in a year under a normal mandate. If the share price stays at this level, and if the company continues buying up to the cap, there will be an estimated $60 million to spare from the $200 million committed. The share price started dropping, as investors such as US fund manager T Rowe Price cut its stake. On the other hand, YZJFH&rsquo s CEO Vincent Toe and two of the three independent directors, Chew Sutat and Chua Kim Leng, had at various times bought shares from the market. However, Ren, the single largest shareholder with a direct stake of 21.6% (or more, if deemed stakes such as the 4.2% held by his son Ren Letian are included), has not followed suit thus far. When asked, Ren says that once the 10% mark is reached, he is prepared to move in and increase his personal stake, while seeking another mandate from shareholders to continue the buyback. Ren notes that the share price, at current levels, is just a fraction of YZJFH&rsquo s book value of $1.07 as at June 30. &ldquo You are paying just 30 cents to buy $1 worth of assets.&rdquo He also reiterates the company&rsquo s dividend policy of paying out at least 40% of its earnings for FY2022 to FY2024. From FY2019 to FY2021, the company&rsquo s earnings per share (EPS) were 8.72 cents, 8.13 cents and 8.28 cents respectively. Assuming an EPS of 8 cents, with a payout ratio of 40%, will mean a dividend of 3.2 cents, which will translate into a yield of 9.41% at 34 cents. &ldquo This is a more generous dividend policy than 90% of all Singapore-listed companies,&rdquo claims Ren. In its first post-listing report card on Aug 11, the company says that for 1HFY2022 ended June 30, earnings came in at $136.4 million, down 30.6% y-o-y. Total income was $173.8 million, down 27.3% y-o-y. The company explains that the drop was due to fair value changes on equity financial assets following weakness in financial markets. For the whole of FY2021, earnings reached $327.2 million on a total income of $384.8 million. In a previous interview with The Edge Singapore, Ren explains that the spin-off was partly because investors prefer either pureplay shipbuilders or financial firms, but not something like YZJ Shipbuilding which was both. Ren notes that prior to the spin-off, YZJ Shipbuilding&rsquo s share price was around $1.20. Under terms of the spin-off, YZJ Shipbuilding shareholders received a YZJFH share for each YZJ Shipbuilding share they hold. Both YZJFH and YZJ Shipbuilding&rsquo s share prices may have come down, but if they are added together, there is still a gain. &ldquo I don&rsquo t regret the restructuring,&rdquo maintains Ren. Economy of two halves Ren believes there are a few reasons why investors have shunned the stock. Firstly, YZJFH is perceived by investors as a China stock, and along with that come all the worries and pessimism towards this market. It did not help that as a result of investments made and loans meted out previously, YZJFH now has exposure to China&rsquo s property sector, which is under stress because of government policies. In addition, global markets &mdash not just China &mdash are on a downtrend as investors fret over the multitude of negative factors including rate hikes, inflationary fears and overall recessionary worries amid rising geopolitical tension. Ren points out that despite the lowered GDP numbers, China&rsquo s economy is still enjoying moderate growth, with the World Bank forecasting 2022 growth of 2.8%. Not many developed economies can claim the same pace, he says. Nonetheless, he acknowledges that China&rsquo s overall economy and markets are fraught with uncertainties. For one, the strict zero-Covid policy, which has curbed economic activity, is likely to remain in place. The geopolitical tension with the US, plus the perennial issue of how Taiwan is to be re-unified, continues to add complexities to the decision making of businesses and investors. Ren notes that internally, China&rsquo s economy is seen to consist of two diametrical halves. The first half comprises industries either being curbed because of government policies, or suffering from intense competition with one another in the similar fields. The other half of the economy, however, enjoys a vast, growing market potential &mdash a blue ocean, so to speak. Areas such as clean energy, big data, and AI are those that YZJFH will be looking more closely at. Tiger with wings Ren is especially optimistic about the potential growth of ship financing and leasing as a growth area for YZJFH. After all, this is familiar ground for him. Back when he was running YZJ Shipbuilding, which he did for decades before handing the reins over to Letian, he was already actively involved in related financing activities, such as facilitating the sale and leaseback of vessels. This business is similar to the aircraft leasing model, where airlines do not own the planes but instead lease the planes from specialised firms. Within this space, Ren sees more opportunities. YZJ Shipbuilding used to focus on building bulk carriers and container ships. On Oct 26, YZJ Shipbuilding announced that it has broken into the &ldquo lucrative&rdquo market for building liquefied natural gas carriers, with two orders placed by an unnamed European customer for an undisclosed sum, bringing its total order book to a record of more than US$10 billion ($14 billion). The market for these specialised vessels is now a stronghold of the Korean yards. To him, ship financing and leasing is a business that melds his expertise, and he is confident this is a &ldquo bright spot&rdquo for YZJFH. &ldquo We will be like a tiger with wings,&rdquo says Ren. To this end, YZJFH has set up a maritime-focused fund with an initial fund size of US$250 million. Of this, the company has committed US$100 million, with the remaining US$150 million to be raised from other parties. &ldquo I&rsquo ve changed from a shipbuilder, to an investor of shipbuilding,&rdquo says Ren. Other funds under YZJFH include the ICH Gemini Asia Growth Fund, with $120 million under AUM the GEM Tech Holding VCC, which has an expected size of $217 million the Golden Ox Fund VC, which is expected to have $36 million. The GEM Asia Growth Fund, meanwhile, will have an initial expected fund size of $100 million, with YZJFH itself chipping in $80 million and $20 million to be raised from other investors. In the pipeline are also several other funds, focusing on private equity or fixed income, and with different investment strategies ranging from growth and tech companies, cleantech companies, unicorn opportunities and absolute returns. Tapping the Jiangyin base Setting up these funds is a conscious move on YZJFH&rsquo s part to move a bigger proportion of its assets to be redeployed outside China and to also diversify the allocation of the funds to other asset classes. YZJFH&rsquo s assets were dominantly in the form of short-term loans of one year or so, to local SMEs within China. One reason Ren has listed YZJFH in Singapore is so that he can make use of Singapore as an international financial services platform to try and capture businesses outside China. As at Dec 31, 2021, the company&rsquo s debt and equipment investments portfolio stood at 83% and 17% respectively. As at June 30, the debt investments portfolio has been reduced to just 57% of the total, as the company redeployed funds from short-term loans that have matured. Cash and so-called &ldquo yield enhancement&rdquo products and equity investments constituted 29% and 14% of the total portfolio. As at June 30, 11% of the assets are outside China, largely in Singapore. The plan is to gradually increase the proportion to 20%, then 40%, before having an equal split eventually. Besides investing its own funds, and to form joint ventures with other investors, YZJFH believes it can grow a significant wealth management platform too. Ren&rsquo s optimism with the wealth management business stems from his familiarity with the city of Jiangyin, where YZJ Shipbuilding is based. Ren points out that Jiangyin and the surrounding region are home to some 600 listed companies &mdash versus the total of some 5,000 listed companies in the whole of China. The owners and shareholders of these companies, many of whom he knows, are potential clients for YZJFH&rsquo s wealth management business. So far, YZJFH has signed an agreement to provide investment advisory services for an unnamed family office, with an AUM of $500 million. YZJFH is in the midst of applying for the Qualified Domestic Limited Partnership (QDLP) programme, which allows foreign and domestic Chinese asset managers to raise Chinese yuan from high-net-worth and institutional investors in China to be channelled towards offshore investments through a Chinese product or fund. According to YZJFH, for an offshore entity to participate in the QDLP programme, it will first have to apply for the &ldquo QDLP allocation quota&rdquo from the local authority, which it has already obtained. To utilise its allocated quota, YZJFH is seeking a licence under the Asset Management Association of China (AMAC) and be registered as a QDLP manager. YZJFH can also repatriate funds via dividend payments, of which full provision for the withholding tax has been made. Now, with all the uncertainty in China, is Ren perhaps already considering to have the majority of the assets deployed outside China, instead of an equal split? Ren says that the move from 10% to 20% is already a one-fold increase, and thus this shift has to be carried out in a steady manner. &ldquo Let us do so one step at a time,&rdquo he says. For now, Ren wants to address the market&rsquo s perception. &ldquo We hope to show we&rsquo ve put in the effort, and show investors the intrinsic value of our shares.&rdquo
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volvo125 Master	11-Nov-2022 00:05        volvo125 About Contact  Quote this Post!
x 1   x 0  Alert Admin	Thanks for linking the zaobao article .... didn't have a chance to read it then in Jul due to the subscription wall. So now i know what was the trouble he got into in 2019. RenYL is a tough and resourceful first gen who is capable of making things happen. The ~3 years target to seek additional CDR listing will require YFH to attain an average market cap of at least rmb20b, or ~ >sgd3.9bil, or ~$1.05 per share at current float (~3700m). So RenYL has unspokenly set a target to drive YFH to hit $1.05 in =/> 3 years. And he is well aware that SGX stock market pool is small and lacks liquidity and hence listco valuations are not high. So let us sit back and watch how the snr Ren could drive YFH to $1.05 in the liquidity lacking SGX market environment... YibaoI      ( Date: 10-Nov-2022 20:53) Posted: This article link below stating Ren plan for yzjfh in 3 years. If they can managed to list at china after meeting china regulatory requirements after 3 years the price will move up for sure. For penny stock price now that have the potiential to go up and with dividend i am on board for long term. When to take profit is something to consider, but i will not sell at penny stock price that is for sure. As what many have said. short term pricing does not reflect on company worth. as long you have holding power do not need to worry too much on the price. However price can go down further given the current environment. so dyodd.  https://www.thinkchina.sg/interview-ren-yuanlin-chinese-shipbuilders-venture-new-waters-finance
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PiRPiR Master	10-Nov-2022 22:59        PiRPiR About Contact  Quote this Post!
x 0   x 0  Alert Admin	Tks @Yibaol YibaoI      ( Date: 10-Nov-2022 20:53) Posted: This article link below stating Ren plan for yzjfh in 3 years. If they can managed to list at china after meeting china regulatory requirements after 3 years the price will move up for sure. For penny stock price now that have the potiential to go up and with dividend i am on board for long term. When to take profit is something to consider, but i will not sell at penny stock price that is for sure. As what many have said. short term pricing does not reflect on company worth. as long you have holding power do not need to worry too much on the price. However price can go down further given the current environment. so dyodd.  https://www.thinkchina.sg/interview-ren-yuanlin-chinese-shipbuilders-venture-new-waters-finance
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YibaoI Senior	10-Nov-2022 20:53        YibaoI About Contact  Quote this Post!
x 0   x 0  Alert Admin	This article link below stating Ren plan for yzjfh in 3 years. If they can managed to list at china after meeting china regulatory requirements after 3 years the price will move up for sure. For penny stock price now that have the potiential to go up and with dividend i am on board for long term. When to take profit is something to consider, but i will not sell at penny stock price that is for sure. As what many have said. short term pricing does not reflect on company worth. as long you have holding power do not need to worry too much on the price. However price can go down further given the current environment. so dyodd.  https://www.thinkchina.sg/interview-ren-yuanlin-chinese-shipbuilders-venture-new-waters-finance
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HVRRVH Elite	10-Nov-2022 16:34        HVRRVH About Contact  Quote this Post!
x 0   x 0  Alert Admin	NAV of SGD 4.2b, market cap of SGD1.14b. Annual eps projected to be minimum of 5 cents yet PB of 0.3x! The management need to clock eps of at least 5 cents or better for the immediate 2-3 years with corresponding min 40% payout ratio. If this materialised, share price should move toward min 70 cents in 2-3 years.
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MambaFinancial89 Veteran	10-Nov-2022 15:31        MambaFinancial89 About Contact  Quote this Post! Style: Fundamental   Yells: "Be greedy when others are fearful. "
x 0   x 0  Alert Admin	Worst case scenario: NPAT: $136,379,000 (1H22) + $50,000,000 (2H22 worse case) = $186,379,000 Outstanding number of shares:  3,937,589,220 - 259,611,100 (treasury shares) = 3,677,978,120  Dividends Based on 40% NPAT Payout:  $186,379,000 X 0.4 =  $74,551,600 Dividend per Share: ($74,551,600)/(3,677,978,120) = $0.0203 Dividend Yield: $0.0203/$0.33 = 0.062 (6.2%)
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ayahiro Member	10-Nov-2022 10:56        ayahiro About Contact  Quote this Post!
x 1   x 0  Alert Admin	It' s not even 1 year yet, why you keep asking about dividend? They already announce yearly dividend of 40% few months ago, you can always read their report to get your facts right. If you are rushing for quarterly dividend, go look for other stocks. Talking craps here don t earn you any merits. blizzzz      ( Date: 10-Nov-2022 00:01) Posted: Luckily I sold this counter, LOL, you see in the end, they still good at talking only? where is the action? NATO? No action Talk Only stock? Where is the 40% dividend? blank cheque? Come on, stop giving the investors this type of talking shows, no matter how good you paint the company, the company stock price in the market is the best indicator.
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ayahiro Member	10-Nov-2022 10:42        ayahiro About Contact  Quote this Post!
x 0   x 0  Alert Admin	it' s probably 3Q updates or news of progress. We will see by end of the month.    spanky      ( Date: 10-Nov-2022 08:57) Posted: Thanks Volvo for your sharing  point 6. SBB halted due to Q3 management report preparation. Is it likehood that they will announce Q3 result or Business update? SGX regulation is no SBB before 30 days of releasing result.
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volvo125 Master	10-Nov-2022 10:39        volvo125 About Contact  Quote this Post!
x 0   x 0  Alert Admin	There was no affirmation but it seems from her tone that 3Q update would be announced in brief without the financials. FY and 1H updates are mandatory with detailed financial so a long one month preparation and blackout period was called for. 1Q and 3Q updates are not mandatory and if given, will be in brief without financial details so the preparation and blackout period will be much shorter. I think the 3Q brief will be released ~mid Nov. spanky      ( Date: 10-Nov-2022 08:57) Posted: Thanks Volvo for your sharing  point 6. SBB halted due to Q3 management report preparation. Is it likehood that they will announce Q3 result or Business update? SGX regulation is no SBB before 30 days of releasing result.
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spanky Member	10-Nov-2022 08:57        spanky About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thanks Volvo for your sharing  point 6. SBB halted due to Q3 management report preparation. Is it likehood that they will announce Q3 result or Business update? SGX regulation is no SBB before 30 days of releasing result.
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chantoss Member	10-Nov-2022 07:48        chantoss About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thank you volvo !    We really appreciate your sharing.  soeteono      ( Date: 10-Nov-2022 06:39) Posted: Thousand thanks to Volvo. Heng5335      ( Date: 10-Nov-2022 06:24) Posted: hi volvo, thank you for your sharing, appreciate your hard work.
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soeteono Senior	10-Nov-2022 06:39        soeteono About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thousand thanks to Volvo. Heng5335      ( Date: 10-Nov-2022 06:24) Posted: hi volvo, thank you for your sharing, appreciate your hard work. volvo125      ( Date: 09-Nov-2022 23:49) Posted: It was not an exclusive PR event per se but still a PR event tagging along the L& T in-house research team presentations as a front. The presentation on SGX seems strange and out of place though in this webinar (seems like wrong target audience) and I think the speaker certainly did not expect himself to be bombarded repeatedly with many emotional charged questions on SGX regulatory " behaviours" or " non behaviours" . The SGX speaker was seen to be giving quite a lot of supporting words to Li Hua during the Q& A session.  There was no 3Q update and both presentations were done by the PR consultants who narrated along the lines of the previous 1H22 presenations. Along the lines, some hints were picked up. 1.    YZJ is expecting to do very well at the topline and bottomline in 2H due to the significant USD appreciation as most of its revenues were denominated in USD.  2.    ~90% of YFH still in PRC in 2H so RMB devaluation against SGD will adversely affect the net asset value, in line with the analysis which I shared in this thread earlier. However, I have also highlighted that the positive effect of SBB will counter this NAV devaluation. 3.    YFH will benefit from USD appreciation on its offshore fund due to the mainly USD denominated assets in Cash or Cash Equivalent or already in Investments, in line with what I have also highlighted earlier in this thread except that I was taking a weighted average of the opening (11% of fund at 2H Open) and closing balances (22% at 2H Close) of the estimated offshore assets. So the magnitude of this benefit will depend on how fast the 2nd tranche 11% was converted to USD and move into SG during 2H.    4.    YFH will also benefit from the rate hikes due to the prevailing high proportion of Cash or Cash Equivalent on hand in 2H due to the matured DI recycling process where the cash drags will stand to earn much higher returns.    5.    Liu Hua (LH) agreed that buying YFH at the current heavily discounted price is a very good investment for the coy to enhance L/T shareholder value and she commented the buying objective is due to good investment and not to defend the price.  6.    The sudden halt of SBB on 31 Oct was also confirmed by LH to be due to the sensitivity of 3Q management report preparation window. She reassured that here is no intention to stop the SBB and YFH has all the money to do so. 7.    LH highlighted the 10% SBB cap but short of advising the audience what the coy will or can do when this cap is reached. Myself and another forum member @Ayahiro in this thread did type out our questions to the webinar administrator on what YFH will do when SBB is maxed out but our questions were not tabled out for LH to comment. 8.    Nobody has chance to raise a question on the still ongoing PRC property crisis and YFH perceived NPL going forward. Thanks to the last minute webinar lead sent to me by @Ayahiro, who himself just gotten the lead from his broker yesterday.  Anyone can add to the above summary list that I might have missed ....
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Heng5335 Member	10-Nov-2022 06:24        Heng5335 About Contact  Quote this Post!
x 0   x 0  Alert Admin	hi volvo, thank you for your sharing, appreciate your hard work. volvo125      ( Date: 09-Nov-2022 23:49) Posted: It was not an exclusive PR event per se but still a PR event tagging along the L& T in-house research team presentations as a front. The presentation on SGX seems strange and out of place though in this webinar (seems like wrong target audience) and I think the speaker certainly did not expect himself to be bombarded repeatedly with many emotional charged questions on SGX regulatory " behaviours" or " non behaviours" . The SGX speaker was seen to be giving quite a lot of supporting words to Li Hua during the Q& A session.  There was no 3Q update and both presentations were done by the PR consultants who narrated along the lines of the previous 1H22 presenations. Along the lines, some hints were picked up. 1.    YZJ is expecting to do very well at the topline and bottomline in 2H due to the significant USD appreciation as most of its revenues were denominated in USD.  2.    ~90% of YFH still in PRC in 2H so RMB devaluation against SGD will adversely affect the net asset value, in line with the analysis which I shared in this thread earlier. However, I have also highlighted that the positive effect of SBB will counter this NAV devaluation. 3.    YFH will benefit from USD appreciation on its offshore fund due to the mainly USD denominated assets in Cash or Cash Equivalent or already in Investments, in line with what I have also highlighted earlier in this thread except that I was taking a weighted average of the opening (11% of fund at 2H Open) and closing balances (22% at 2H Close) of the estimated offshore assets. So the magnitude of this benefit will depend on how fast the 2nd tranche 11% was converted to USD and move into SG during 2H.    4.    YFH will also benefit from the rate hikes due to the prevailing high proportion of Cash or Cash Equivalent on hand in 2H due to the matured DI recycling process where the cash drags will stand to earn much higher returns.    5.    Liu Hua (LH) agreed that buying YFH at the current heavily discounted price is a very good investment for the coy to enhance L/T shareholder value and she commented the buying objective is due to good investment and not to defend the price.  6.    The sudden halt of SBB on 31 Oct was also confirmed by LH to be due to the sensitivity of 3Q management report preparation window. She reassured that here is no intention to stop the SBB and YFH has all the money to do so. 7.    LH highlighted the 10% SBB cap but short of advising the audience what the coy will or can do when this cap is reached. Myself and another forum member @Ayahiro in this thread did type out our questions to the webinar administrator on what YFH will do when SBB is maxed out but our questions were not tabled out for LH to comment. 8.    Nobody has chance to raise a question on the still ongoing PRC property crisis and YFH perceived NPL going forward. Thanks to the last minute webinar lead sent to me by @Ayahiro, who himself just gotten the lead from his broker yesterday.  Anyone can add to the above summary list that I might have missed ....
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volvo125 Master	10-Nov-2022 02:38        volvo125 About Contact  Quote this Post!
x 0   x 0  Alert Admin	It has been YZJ policy (consistent practice) to declare dividend annually after the FY result is announced, and payment will only effect in ~ mid May after the AGM in ~ mid Apr. YFH will follow this policy so do not expect to hear any dividend declaration in the 3Q interim business update, if YZJ and YFH do decide to provide the 3Q brief which is not mandatory. YibaoI      ( Date: 10-Nov-2022 01:43) Posted: This is quite assuring to me in my view. They saying something inbetween the lines while waiting to release the upcoming 3rd quarter report. Definitely a good value at current price but does not mean it will not go down further due to market conditions and still no news of the dividend. Hopefully more good news will come. but for now I will hold on to my shares and buy more everytime it hit my target price if it drop further. vested and dyodd volvo125      ( Date: 09-Nov-2022 23:49) Posted: It was not an exclusive PR event per se but still a PR event tagging along the L& T in-house research team presentations as a front. The presentation on SGX seems strange and out of place though in this webinar (seems like wrong target audience) and I think the speaker certainly did not expect himself to be bombarded repeatedly with many emotional charged questions on SGX regulatory " behaviours" or " non behaviours" . The SGX speaker was seen to be giving quite a lot of supporting words to Li Hua during the Q& A session.  There was no 3Q update and both presentations were done by the PR consultants who narrated along the lines of the previous 1H22 presenations. Along the lines, some hints were picked up. 1.    YZJ is expecting to do very well at the topline and bottomline in 2H due to the significant USD appreciation as most of its revenues were denominated in USD.  2.    ~90% of YFH still in PRC in 2H so RMB devaluation against SGD will adversely affect the net asset value, in line with the analysis which I shared in this thread earlier. However, I have also highlighted that the positive effect of SBB will counter this NAV devaluation. 3.    YFH will benefit from USD appreciation on its offshore fund due to the mainly USD denominated assets in Cash or Cash Equivalent or already in Investments, in line with what I have also highlighted earlier in this thread except that I was taking a weighted average of the opening (11% of fund at 2H Open) and closing balances (22% at 2H Close) of the estimated offshore assets. So the magnitude of this benefit will depend on how fast the 2nd tranche 11% was converted to USD and move into SG during 2H.    4.    YFH will also benefit from the rate hikes due to the prevailing high proportion of Cash or Cash Equivalent on hand in 2H due to the matured DI recycling process where the cash drags will stand to earn much higher returns.    5.    Liu Hua (LH) agreed that buying YFH at the current heavily discounted price is a very good investment for the coy to enhance L/T shareholder value and she commented the buying objective is due to good investment and not to defend the price.  6.    The sudden halt of SBB on 31 Oct was also confirmed by LH to be due to the sensitivity of 3Q management report preparation window. She reassured that here is no intention to stop the SBB and YFH has all the money to do so. 7.    LH highlighted the 10% SBB cap but short of advising the audience what the coy will or can do when this cap is reached. Myself and another forum member @Ayahiro in this thread did type out our questions to the webinar administrator on what YFH will do when SBB is maxed out but our questions were not tabled out for LH to comment. 8.    Nobody has chance to raise a question on the still ongoing PRC property crisis and YFH perceived NPL going forward. Thanks to the last minute webinar lead sent to me by @Ayahiro, who himself just gotten the lead from his broker yesterday.  Anyone can add to the above summary list that I might have missed ....
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