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Kyoto2008 Elite	24-Oct-2014 00:53        Kyoto2008 About Contact  Quote this Post!
x 0   x 1  Alert Admin	One thing that is not imagination. As a shareholder of UE, you have the right to accept or decline Charoen' s offer when it comes.   Let' s discuss further when we cross that bridge. Kyoto2008      ( Date: 24-Oct-2014 00:50) Posted: I imagine that the reason for Charoen even to be interested in this deal, is  the ability for him  to take control of UE so that I assume he can strip the assets and hive off the properties to glamour profile his reits.  So I imagine  he will move to get at least 51% first.      We need to look at the A& A to see if he needs more like 75% of the voting rights to do what I imagine  he intends to do, that is take UE apart.    I imagine and   I assume he needs that, which means he needs to call us retailers Ah Gong. I imagine UE board will cease to exist and will be replaced those that will serve the purpose of the day. It' s all imagination.
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Kyoto2008 Elite	24-Oct-2014 00:50        Kyoto2008 About Contact  Quote this Post!
x 0   x 1  Alert Admin	I imagine that the reason for Charoen even to be interested in this deal, is  the ability for him  to take control of UE so that I assume he can strip the assets and hive off the properties to glamour profile his reits.  So I imagine  he will move to get at least 51% first.      We need to look at the A& A to see if he needs more like 75% of the voting rights to do what I imagine  he intends to do, that is take UE apart.    I imagine and   I assume he needs that, which means he needs to call us retailers Ah Gong. I imagine UE board will cease to exist and will be replaced those that will serve the purpose of the day. It' s all imagination.
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Kyoto2008 Elite	24-Oct-2014 00:39        Kyoto2008 About Contact  Quote this Post!
x 0   x 0  Alert Admin	They all connected lah!  I worked for these jokers before. mcking      ( Date: 24-Oct-2014 00:38) Posted: --- Post Removed by User ---
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Kyoto2008 Elite	24-Oct-2014 00:34        Kyoto2008 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Nope, it' s reported to be 36%.    I believe it so. You can' t see from the list of major shareholders if that' s where you take your reference.    The ownership is more intricate, through webs, nominee cos.
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Kyoto2008 Elite	24-Oct-2014 00:13        Kyoto2008 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Here' s how the whole saga will work out the moment Charoen buys the OCBC/GE stake of UE. It is mandatory under our laws that once a company buys more than 30% of the shares of a listed company, a general takeover offer is to be made to all remaining shareholders. Therefore, Charoen needs to make an offer to all remaining UE shareholders.          The UE shareholders may or may not accept the offer.    Those who feel a better price is more appropriate can do nothing, which is tantamount to rejecting Charoen' s first offer. Another bidder may or may not appear to offer a better price.      Nevertheless, whether another bidder appears, Charoen may or may not make a second offer.    Again, it is up to the individual UE shareholder whether to accept this offer. That' s why, in any takeover, the buyer have to kow tow to the the remaining shareholders.      We shareholders   become Ah Kongs.    That' s a mile better than Ah longs.
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Kyoto2008 Elite	23-Oct-2014 20:56        Kyoto2008 About Contact  Quote this Post!
x 1   x 0  Alert Admin	Nope, Charoen has to buy from the existing shareholders, I don' t think UE own their own shares, maybe for staff share option scheme but certainly not substantial enough. It will be the big shareholders plus retailers. ksksks      ( Date: 23-Oct-2014 20:38) Posted: Sorry...I meant after the purchase by   Charoen from OCBC & GE,  and if he needs to or wants to buy more from UE directly, do you think UE would sell?    Just asking to learn.
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ksksks Member	23-Oct-2014 20:38        ksksks About Contact  Quote this Post!
x 0   x 0  Alert Admin	Sorry...I meant after the purchase by   Charoen from OCBC & GE,  and if he needs to or wants to buy more from UE directly, do you think UE would sell?    Just asking to learn.
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Kyoto2008 Elite	23-Oct-2014 20:04        Kyoto2008 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Therefore, all the RNAV jazz is to be taken with a pinch of salt.      The real value is not in the books or the present buildiings, but what the freehold land can offer for redevelopment I think.      Our analysts go by the book, and only CIMB made a tiny attempt to give an amateurish estimate, given that these analysts are supposed to be expert.  But looking at the way they value really makes one wonder why they even bother to say what they did! Kyoto2008      ( Date: 23-Oct-2014 20:01) Posted: Actually UE is undervalued as the stock price never really recovered after Lehman.    It did try to move upwards in 2012, but this was interrupted when UE called for a rights issue on taking over Wearnes.    Frustrated shareholders dumped the stock, causing the price to spiral downwards.        It has a good record of high profitability, the takeover of Wearnes brought down ROE, but now they are stripping the different parts of Wearnes and selling them off, thus reducing the debt burden, at the same time unlocking the trapped asset values to shareholders.      UE is run by a strong team as mentioned in my past posts who are on the Board of Directors are seasoned corporate finance people.    However, there is a lot of work on the properties as they have potential for enhancements and redevelopment, and this part may have been neglected by the UE board.  But caught the eye of Charoen who looks at UE properties as potential addition to his reits.      If he tears down the lau kok kok buildings and put up brand new ones, he could make tons of money. For us small retailers, make only a little, but happy to be part of the action.
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Kyoto2008 Elite	23-Oct-2014 20:01        Kyoto2008 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Actually UE is undervalued as the stock price never really recovered after Lehman.    It did try to move upwards in 2012, but this was interrupted when UE called for a rights issue on taking over Wearnes.    Frustrated shareholders dumped the stock, causing the price to spiral downwards.        It has a good record of high profitability, the takeover of Wearnes brought down ROE, but now they are stripping the different parts of Wearnes and selling them off, thus reducing the debt burden, at the same time unlocking the trapped asset values to shareholders.      UE is run by a strong team as mentioned in my past posts who are on the Board of Directors are seasoned corporate finance people.    However, there is a lot of work on the properties as they have potential for enhancements and redevelopment, and this part may have been neglected by the UE board.  But caught the eye of Charoen who looks at UE properties as potential addition to his reits.      If he tears down the lau kok kok buildings and put up brand new ones, he could make tons of money. For us small retailers, make only a little, but happy to be part of the action.
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rlong8288 Master	23-Oct-2014 19:43        rlong8288 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hope you are correct and all minor shareholders will Huat Ah
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Kyoto2008 Elite	23-Oct-2014 19:37        Kyoto2008 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Was looking at the chart of UE, noticed there' re two days  of price spikes on good volume.      It could either be a mkt recovery, or possibly also insiders buying on news that Charoen has bought the OCBC/GE stake.  Let' s see. The show begins when the first 36% is bought over, Charoen has to make an offer to all remaining shareholders.  But we need not sell at the first offer.
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Kyoto2008 Elite	23-Oct-2014 17:10        Kyoto2008 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Last minute chasing of UE shares caused the price to spiral up.  Maybe good news coming?
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i_love_girls Veteran	23-Oct-2014 16:40        i_love_girls About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	团 结 的 工 程 师 ! Hope they are indeed United no matter where they go hahaha
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Kyoto2008 Elite	23-Oct-2014 13:19        Kyoto2008 About Contact  Quote this Post!
x 0   x 0  Alert Admin	It' s actually a good time for OCBC to get rid of non core assets and focus on banking.      Therefore, chances are very high they will sell to Charoen all the UE shares.   Kyoto2008      ( Date: 23-Oct-2014 13:11) Posted: I assume it' s dirt cheap.    OCBC will make a huge profit from the sale of UE shares. I don think there' s any issue with this deal, the price of UE is not very high, the properties have a huge potential and fits in nicely with Charoen' s plan to grow his reits biz.      As mentioned, Reits continue to be in the glamour spot as the offer yields much better than FD, and will continue to do so for quite some time.    Charoen, as the reits manager will earn fees, at the rate he' s going, going to challenge some of the big reits.      OCBC/GE has no emotional attachment to UE, and actually banks should not be owning property companies, so it' s a matter of time they divest this stake in UE. ksksks      ( Date: 23-Oct-2014 12:12) Posted: BTW what was the average price OCBC bought UE shares??
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Kyoto2008 Elite	23-Oct-2014 13:11        Kyoto2008 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I assume it' s dirt cheap.    OCBC will make a huge profit from the sale of UE shares. I don think there' s any issue with this deal, the price of UE is not very high, the properties have a huge potential and fits in nicely with Charoen' s plan to grow his reits biz.      As mentioned, Reits continue to be in the glamour spot as the offer yields much better than FD, and will continue to do so for quite some time.    Charoen, as the reits manager will earn fees, at the rate he' s going, going to challenge some of the big reits.      OCBC/GE has no emotional attachment to UE, and actually banks should not be owning property companies, so it' s a matter of time they divest this stake in UE. ksksks      ( Date: 23-Oct-2014 12:12) Posted: BTW what was the average price OCBC bought UE shares??
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Kyoto2008 Elite	23-Oct-2014 13:05        Kyoto2008 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Don' t understand your question.    Charoen did not approach UE at all, he' s buying the UE shares that OCBC/GE owns.    UE has no say over this deal. ksksks      ( Date: 23-Oct-2014 12:09) Posted: would there be a possibility of UE NOT wanting to sell to Charoen?  If yes or no, likely scenerio?
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ksksks Member	23-Oct-2014 12:12        ksksks About Contact  Quote this Post!
x 0   x 0  Alert Admin	BTW what was the average price OCBC bought UE shares??
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ksksks Member	23-Oct-2014 12:09        ksksks About Contact  Quote this Post!
x 0   x 0  Alert Admin	would there be a possibility of UE NOT wanting to sell to Charoen?  If yes or no, likely scenerio?
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Kyoto2008 Elite	23-Oct-2014 11:57        Kyoto2008 About Contact  Quote this Post!
x 0   x 0  Alert Admin	This is between OCBC/GE and Charoen, nothing to do with UE staff or board, seller just dispose at right price (there is no emotional attachment, just like OCBC sold F& N to Charoen in the past), buyer probably eager to take the properties. Kyoto2008      ( Date: 23-Oct-2014 11:55) Posted: If there' s disagreement. probably we would have known when the due diligence period is completed. Probably now haggling over price!
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Kyoto2008 Elite	23-Oct-2014 11:55        Kyoto2008 About Contact  Quote this Post!
x 0   x 0  Alert Admin	If there' s disagreement. probably we would have known when the due diligence period is completed. Probably now haggling over price!
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