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Latest Forum Topics / OceanScape Intl    Last:0.007 --  Post Reply
IPO shares. E Commerce
FrancisLim
Elite
18-Sep-2020 11:12     
 
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 Alert Admin 		BT 13 August 2018
Quote:

Synagie Corporation

On Aug 8, Synagie Corporation (Synagie) debuted on Catalist. Synagie is primarily engaged in the provision of e-commerce solutions in the body, beauty and baby (BBB) sector.
The company works with both SMEs and large MNCs, providing integrated technology to better manage multi e-commerce channels.

As reported by The Business Times Synagie was founded by
chief executive Clement Lee and executive director Olive Tai in 2014.
The July 31 article noted that Synagie' s cloud-based platform was launched in August 2016
and helps brand partners like Johnson & Johnson, Kimberly Clark and Shiseido distribute their products
on online marketplaces.

Furthermore, Synagie' s CEO Clement Lee likens Synagie' s business to Baozun in China,
albeit on a much smaller scale. Synagie' s competitors include aCommerce, Anchanto, DKSH,
SCI Ecommerce, Singpost eCommerce, Y Ventures, Shopify and Shopmatic,
according to Frost & Sullivan. Mr Lee is the sole beneficial owner of Metadrome International Pte Ltd
which maintained a 23.7 per cent stake in Synagie at the IPO.

The IPO raised approximately S$11.6 million in gross proceeds and anchor investors include Nikko Asset Management Asia Limited
and Cindy Tai Lai Fun. Synagie' s shareholder base also includes pre-IPO investors such as Agate Investments Limited,
which is wholly owned by Centurion Private Equity Ltd Harmony Treasure Holdings Ltd Island Asset Management Pte Ltd and Wang Yu Huei.

Unquote
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FrancisLim
Elite
18-Sep-2020 09:17     
 
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 Alert Admin 		https://links.sgx.com/FileOpen/Project%20A%20-%20Response%20to%20SGX%20Queries%20-%20Final.ashx?App=Announcement& FileID=632070

Please read the response to SGX Query on the sale of the crown jewel.

Although the one time B2B revenue may not be recurring i.e. cold be a set-up service where it is paid once, there is no disclosure on the accretive growth of its other ecommerce business during the pandemic.  For the B2B the set-up cost is one time, but there will be recurring usage and maintenance income, which they have chosen to selectively not disclosed.

Question 11: Please disclose if any of the undertaking shareholders (i.e. Agate Investments Limited, Harmony Treasure Holdings Ltd & Ms Tai Lai Fun Cindy) are related to any of the Company&rsquo s directors and substantial shareholders or those who are required to abstain from the resolutions proposed in the Circular.

Company' s Response: Agate Investments Limited and Harmony Treasure Holdings Ltd are not related to any of the Company&rsquo s directors or substantial shareholders. Ms Tai Lai Fun, Cindy is the aunt of Ms Olive Tai, an Executive Director of the Company. As Ms Tai Lai Fun, Cindy is not an immediate family member of Ms Olive Tai, she is not an associate of Ms Olive Tai under the Catalist Rules and accordingly does not need to abstain from voting on the resolutions proposed in the Circular. 


Just like Best World, the brother-in-law may not be related under the rule.

 

redbull888      ( Date: 18-Sep-2020 08:49) Posted:

anyone read the announcement ytd?
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redbull888
Veteran
18-Sep-2020 08:49     
 
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 Alert Admin 		anyone read the announcement ytd?
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FrancisLim
Elite
17-Sep-2020 09     
 
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 Alert Admin 		(1)  interested parties cannot vote i.e the founders who are also part of the purchaser

(2) those voting, the simple majority will carry through.

(3)  Of course those who  agreed to sell, they are the friendly parties, not sure how many are hidden.

(4)  Yes, grossly undervalued offer.  Not using the same basis as IPO 5.7 of proforma sale.    Also, bucnh of crap, for ecommerce not to grow with this coronar pandemic.  Also, up til now, the 
corona pandemic not easing off.  On the contrary, resurgence in Spain, France, etc.  So should they witthdraw the so called benovlent offer - i.e on the basis that corona virus will go away.
?  Must be  cheapo to try to sieze a turned around business.

Raise your questions in the EGM, and Vote against the resolution
?

 
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Peterlimkk
Member
17-Sep-2020 09:08     
 
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 Alert Admin 		Beginner here. Ref upcoming EGM, 

1. is it upwards of 50% of of votes

2. OR upwards of 50% of all outstanding shares

for proposals to carry through,.

Offer is undervalued and would prefer to hold.

FrancisLim      ( Date: 16-Sep-2020 16:47) Posted:

It seems so that the friendly parties have managed the price.

Anyway, if you take the buy out at the knife point price of 19.4 cents, it is left say with a listed company.

Not sure how much cash will be left in the insurtech co.  As a shell company, it shall be worth around S$10 million or nearly 3.3 cents per share.

Assuming they retain S$7 million cash, it means another 2.3 cents

Let ascribe a nominal value say 0.1 cent to insurtech.

Still worthwhile to hold and vote Against the offer, so as to realize better value for the profitable operations which would continue to contribute positively to the bottom lin.
.
 

2020st      ( Date: 16-Sep-2020 13:55) Posted:

I think the third party wants the deal to go thru and you know the price gets lower and lower by the days..
Now the problem is price at $0.22 level, no one will want to clear.. that means our bullets are out.. 
they will want to drive to lower and lower by the week..

Big fish eat small eat world.. sighed

blame on techbubble burst for USA... sighed..




 
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FrancisLim
Elite
16-Sep-2020 16:47     
 
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 Alert Admin 		It seems so that the friendly parties have managed the price.

Anyway, if you take the buy out at the knife point price of 19.4 cents, it is left say with a listed company.

Not sure how much cash will be left in the insurtech co.  As a shell company, it shall be worth around S$10 million or nearly 3.3 cents per share.

Assuming they retain S$7 million cash, it means another 2.3 cents

Let ascribe a nominal value say 0.1 cent to insurtech.

Still worthwhile to hold and vote Against the offer, so as to realize better value for the profitable operations which would continue to contribute positively to the bottom lin.
.
 

2020st      ( Date: 16-Sep-2020 13:55) Posted:

I think the third party wants the deal to go thru and you know the price gets lower and lower by the days..
Now the problem is price at $0.22 level, no one will want to clear.. that means our bullets are out.. 
they will want to drive to lower and lower by the week..

Big fish eat small eat world.. sighed

blame on techbubble burst for USA... sighed..




 

OngBak      ( Date: 16-Sep-2020 10:42) Posted:

At the current pricing on 22ct, 2 weeks later egm will approve all proposals.
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2020st
Member
16-Sep-2020 13:55     
 
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 Alert Admin 		I think the third party wants the deal to go thru and you know the price gets lower and lower by the days..
Now the problem is price at $0.22 level, no one will want to clear.. that means our bullets are out.. 
they will want to drive to lower and lower by the week..

Big fish eat small eat world.. sighed

blame on techbubble burst for USA... sighed..




 

OngBak      ( Date: 16-Sep-2020 10:42) Posted:

At the current pricing on 22ct, 2 weeks later egm will approve all proposals.

FrancisLim      ( Date: 16-Sep-2020 09:54) Posted:

Startups &bull Entrepreneurs &bull Digital economy

Carousell reaches US$900 million in valuation following Naver funding

Ng Qi Siang  Published on Tue, Sep 15, 2020 / 6:00 PM GMT+8 / Updated 15 hours ago


 
A-
A
A+
Despite Covid-19 resulting in scarcer startup funding, local tech unicorn Carousell has announced a lucrative US$80 million ($108.8 million) funding deal from a consortium led by South Korean ICT company Naver. Mirae Asset-Naver Asia Growth Fund and NH Investment & Securities are the other investors in the consortium. 

  " Carousell has built a tremendous platform enabling people in the region to transact more effectively and efficiently. We believe its efforts to focus on the products and the community will be further consolidating its market leader position. We highly look forward to working closely with Carousell,&rdquo said Jung An Lee, Head of Investments at Naver. 

  NAVER is the company behind South Korea&rsquo s largest search portal, LINE, a messenger app with over 300 million users globally. In 2018, NAVER was ranked as the 9th most innovative company by Forbes and ranked  6th on the Future 50 company list by Fortune magazine. 

  The deal sees Carousell reach over US$900 million in valuation, with the US$1 billion mark in sight following acquisitions in 2019 to accelerate leadership in Malaysia, Vietnam and the Philippines. This follows a significant acceleration in e-commerce volume following Covid-19, which saw shoppers increasingly moving online and increased sales of pre-loved items. Credit Suisse acted as the exclusive financial advisor to Carousell for the transaction. 

  &ldquo Naver&rsquo s investment in Carousell is a vote of confidence and reinforces the relevance of our mission. We are excited to work closely with Naver, a leader in mobile services and has industry-leading credentials in advanced technologies, as we continue our focus on using technology to make selling and buying even simpler, effective and more inspiring,&rdquo says Quek Siu Rui, CEO and co-founder of Carousell.

 

 
 
For the past six months, Carousell has been stepping up CSR efforts to help regional economies grapple with the Covid-19 pandemic. It has inked partnerships with government agencies like Enterprise Singapore, the Hong Kong Productivity Council and the Malaysia Digital Economy Corporation to support the digitalisation of micro-enterprises and SMEs. Additionally, it has offered US$2 million worth of free ads to non-profit organisations to help them continue their work during the pandemic. 


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redbull888
Veteran
16-Sep-2020 13:36     
 
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 Alert Admin 		tks....so its 50/50

got to wait for EGM outcome on 28sept lor

im keeping....see how it goes

FrancisLim      ( Date: 16-Sep-2020 11:36) Posted:

Synagie when it IPO in June 2018, it valued it 27cent at 5.7 time of revenue(sale) per share and NOT Tangible Asse.  Sale per share is the market valuation like all e-commerce cos.

An e.g is Carousel:

Quote

Carousell generated US$7 million in revenue for 2018, of which direct media services and programmatic advertising collectively accounted for US$4.17 million, The Business Times reported on Thursday. Its topline grew four times from the previous year.

Meanwhile, the startup, which is valued at over US$550 million, registered a loss of US$25 million in 2018. This is narrower than the year-ago loss of US$29.8 million Unquote


Unquote

in 2020 1H, Synagie revenue increase manifold and also it turned profitable and positive cashflow.  The Vendors including the founding members offered to buy out the profitable business at 
Net Asset Value and not on sale per share as it did in IPO.


Basially, it deprives the shareholders of the turned around operations.  It mentioned about increased Capital Expenditures, which it did not disclose in 2019 FS nor in its IPO prosepectus.

Vote against the buy out.   

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FrancisLim
Elite
16-Sep-2020 11:36     
 
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 Alert Admin 		Synagie when it IPO in June 2018, it valued it 27cent at 5.7 time of revenue(sale) per share and NOT Tangible Asse.  Sale per share is the market valuation like all e-commerce cos.

An e.g is Carousel:

Quote

Carousell generated US$7 million in revenue for 2018, of which direct media services and programmatic advertising collectively accounted for US$4.17 million, The Business Times reported on Thursday. Its topline grew four times from the previous year.

Meanwhile, the startup, which is valued at over US$550 million, registered a loss of US$25 million in 2018. This is narrower than the year-ago loss of US$29.8 million Unquote


Unquote

in 2020 1H, Synagie revenue increase manifold and also it turned profitable and positive cashflow.  The Vendors including the founding members offered to buy out the profitable business at 
Net Asset Value and not on sale per share as it did in IPO.


Basially, it deprives the shareholders of the turned around operations.  It mentioned about increased Capital Expenditures, which it did not disclose in 2019 FS nor in its IPO prosepectus.

Vote against the buy out.   
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redbull888
Veteran
16-Sep-2020 10:46     
 
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 Alert Admin 		can explain more on this
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OngBak
Veteran
16-Sep-2020 10:42     
 
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 Alert Admin 		At the current pricing on 22ct, 2 weeks later egm will approve all proposals.

FrancisLim      ( Date: 16-Sep-2020 09:54) Posted:

Startups &bull Entrepreneurs &bull Digital economy

Carousell reaches US$900 million in valuation following Naver funding

Ng Qi Siang  Published on Tue, Sep 15, 2020 / 6:00 PM GMT+8 / Updated 15 hours ago


 
A-
A
A+
Despite Covid-19 resulting in scarcer startup funding, local tech unicorn Carousell has announced a lucrative US$80 million ($108.8 million) funding deal from a consortium led by South Korean ICT company Naver. Mirae Asset-Naver Asia Growth Fund and NH Investment & Securities are the other investors in the consortium. 

  " Carousell has built a tremendous platform enabling people in the region to transact more effectively and efficiently. We believe its efforts to focus on the products and the community will be further consolidating its market leader position. We highly look forward to working closely with Carousell,&rdquo said Jung An Lee, Head of Investments at Naver. 

  NAVER is the company behind South Korea&rsquo s largest search portal, LINE, a messenger app with over 300 million users globally. In 2018, NAVER was ranked as the 9th most innovative company by Forbes and ranked  6th on the Future 50 company list by Fortune magazine. 

  The deal sees Carousell reach over US$900 million in valuation, with the US$1 billion mark in sight following acquisitions in 2019 to accelerate leadership in Malaysia, Vietnam and the Philippines. This follows a significant acceleration in e-commerce volume following Covid-19, which saw shoppers increasingly moving online and increased sales of pre-loved items. Credit Suisse acted as the exclusive financial advisor to Carousell for the transaction. 

  &ldquo Naver&rsquo s investment in Carousell is a vote of confidence and reinforces the relevance of our mission. We are excited to work closely with Naver, a leader in mobile services and has industry-leading credentials in advanced technologies, as we continue our focus on using technology to make selling and buying even simpler, effective and more inspiring,&rdquo says Quek Siu Rui, CEO and co-founder of Carousell.

 

 
 
For the past six months, Carousell has been stepping up CSR efforts to help regional economies grapple with the Covid-19 pandemic. It has inked partnerships with government agencies like Enterprise Singapore, the Hong Kong Productivity Council and the Malaysia Digital Economy Corporation to support the digitalisation of micro-enterprises and SMEs. Additionally, it has offered US$2 million worth of free ads to non-profit organisations to help them continue their work during the pandemic. 

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FrancisLim
Elite
16-Sep-2020 09:54     
 
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 Alert Admin

Startups &bull Entrepreneurs &bull Digital economy

Carousell reaches US$900 million in valuation following Naver funding

Ng Qi Siang  Published on Tue, Sep 15, 2020 / 6:00 PM GMT+8 / Updated 15 hours ago


 
A-
A
A+
Despite Covid-19 resulting in scarcer startup funding, local tech unicorn Carousell has announced a lucrative US$80 million ($108.8 million) funding deal from a consortium led by South Korean ICT company Naver. Mirae Asset-Naver Asia Growth Fund and NH Investment & Securities are the other investors in the consortium. 

  " Carousell has built a tremendous platform enabling people in the region to transact more effectively and efficiently. We believe its efforts to focus on the products and the community will be further consolidating its market leader position. We highly look forward to working closely with Carousell,&rdquo said Jung An Lee, Head of Investments at Naver. 

  NAVER is the company behind South Korea&rsquo s largest search portal, LINE, a messenger app with over 300 million users globally. In 2018, NAVER was ranked as the 9th most innovative company by Forbes and ranked  6th on the Future 50 company list by Fortune magazine. 

  The deal sees Carousell reach over US$900 million in valuation, with the US$1 billion mark in sight following acquisitions in 2019 to accelerate leadership in Malaysia, Vietnam and the Philippines. This follows a significant acceleration in e-commerce volume following Covid-19, which saw shoppers increasingly moving online and increased sales of pre-loved items. Credit Suisse acted as the exclusive financial advisor to Carousell for the transaction. 

  &ldquo Naver&rsquo s investment in Carousell is a vote of confidence and reinforces the relevance of our mission. We are excited to work closely with Naver, a leader in mobile services and has industry-leading credentials in advanced technologies, as we continue our focus on using technology to make selling and buying even simpler, effective and more inspiring,&rdquo says Quek Siu Rui, CEO and co-founder of Carousell.

 

 
 
For the past six months, Carousell has been stepping up CSR efforts to help regional economies grapple with the Covid-19 pandemic. It has inked partnerships with government agencies like Enterprise Singapore, the Hong Kong Productivity Council and the Malaysia Digital Economy Corporation to support the digitalisation of micro-enterprises and SMEs. Additionally, it has offered US$2 million worth of free ads to non-profit organisations to help them continue their work during the pandemic. 
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FrancisLim
Elite
14-Sep-2020 09:31     
 
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 Alert Admin 		BB collecting at 22 and 22.5.

Hope there is a third party taking a stake.    Unscrupulous action in buying the operation once it turns profitablle just after 2 years of IPO and recent right issue at price well below its IPO price.

2020st      ( Date: 07-Sep-2020 11:50) Posted:

Dont think so.. as i think the BB aim to close $0.23 to fake a bear chart.. but factual is that more buyers bought at 0.235 and 0.24 today and very few sold to 0.22/0.225 range

Then tmr, open at $0,235 maybe many want to cash out again.. 

We shall see..

May the force be with u!!
 

easywin      ( Date: 07-Sep-2020 11:09) Posted:

Any targets price? Possible closing at 0.255?
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FrancisLim
Elite
10-Sep-2020 08:21     
 
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 Alert Admin
ONLINE RETAIL SALES

Strong start to 9.9 sales event keeps businesses upbeat on e-tailing

Food and consumer products fly off shelves for mega e-commerce event e-tailers optimistic about Singles Day, Black Friday and 12.12 up ahead
THU, SEP 10, 2020 - 5:50 AM

 

rk_Lazada_100920.jpg
Despite the economic uncertainty, e-commerce players say they remain upbeat about the online retail landscape, given that preliminary data from this year' s 9.9 (Sept 9) sales appear better than last year' s. 
PHOTO: LIANHE ZAOBAO


Singapore

DESPITE the economic uncertainty, e-commerce players say they remain upbeat about the online retail landscape, given that preliminary data from this year' s 9.9 (Sept 9) sales appear better than last year' s.

Lazada customers had a headstart at its 9.9 LazMall Big Brands Sale, which kicked off at midnight on Wednesday, offering products from electronics to sportswear.

Lazada Singapore' s chief executive James Chang told The Business Times: " We saw sales in the first two hours double that of the first two hours of last year."
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FrancisLim
Elite
08-Sep-2020 13:22     
 
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 Alert Admin 		Thanks for the info.  Can also submit your questions to the Board.

2020st      ( Date: 08-Sep-2020 13:10) Posted:

The proxy form must be submitted to the Company in the following manner: (a) if submitted by post, be lodged with the Company&rsquo s Share Registrar, RHT Corporate Advisory Pte. Ltd., at 30 Cecil Street, #19-08, Prudential Tower, Singapore 049712 or (b) if submitted electronically, be submitted via email to [email protected], in either case, not less than 72 hours before the time appointed for holding the EGM. A member who wishes to submit the proxy form must first download, complete and sign the proxy form, before submitting it by post to the address provided above, or before scanning and sending it by email to the email address provided above.

Remember to cast your votes!!
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2020st
Member
08-Sep-2020 13:10     
 
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 Alert Admin 		The proxy form must be submitted to the Company in the following manner: (a) if submitted by post, be lodged with the Company&rsquo s Share Registrar, RHT Corporate Advisory Pte. Ltd., at 30 Cecil Street, #19-08, Prudential Tower, Singapore 049712 or (b) if submitted electronically, be submitted via email to [email protected], in either case, not less than 72 hours before the time appointed for holding the EGM. A member who wishes to submit the proxy form must first download, complete and sign the proxy form, before submitting it by post to the address provided above, or before scanning and sending it by email to the email address provided above.

Remember to cast your votes!!
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easywin
Supreme
08-Sep-2020 10:46     
 
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 Alert Admin 		BB now focusing on others counters, so all can relax and wait for next opportunity 
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redbull888
Veteran
08-Sep-2020 10:11     
 
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 Alert Admin 		holding on toooooo
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2020st
Member
07-Sep-2020 11:50     
 
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 Alert Admin 		Dont think so.. as i think the BB aim to close $0.23 to fake a bear chart.. but factual is that more buyers bought at 0.235 and 0.24 today and very few sold to 0.22/0.225 range

Then tmr, open at $0,235 maybe many want to cash out again.. 

We shall see..

May the force be with u!!
 

easywin      ( Date: 07-Sep-2020 11:09) Posted:

Any targets price? Possible closing at 0.255?
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easywin
Supreme
07-Sep-2020 11:09     
 
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 Alert Admin 		Any targets price? Possible closing at 0.255?
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