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Goldfinger Supreme	10-Apr-2021 12:06        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yes - I believe there are DBS agents in the chat group or they could be from the DBS IPO team. Of course they do not want a lawsuit against them! anton1967      ( Date: 10-Apr-2021 11:50) Posted: Exactly , let the court decide ! One of my friend is in the Whatsapp EHT chat group , he told me whenever someone mentioned about suing DBS for negligence over their DD , some guys in that chat group will say very nagative things about this action , this is a clear case of negligence by DBS , even professor Mak Yuen Teen also mention DBS must cmpesnsate the investors due to their mistakes but why there are so -called investors againt so strongly to sue DBS ? Are they  really " EHT nvestor " or Spies from DBS ? Goldfinger      ( Date: 10-Apr-2021 11:17) Posted: Let the Courts decide if they were not negligent - the Court of public opinion is the strongest offence
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anton1967 Senior	10-Apr-2021 11:50        anton1967 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Exactly , let the court decide ! One of my friend is in the Whatsapp EHT chat group , he told me whenever someone mentioned about suing DBS for negligence over their DD , some guys in that chat group will say very nagative things about this action , this is a clear case of negligence by DBS , even professor Mak Yuen Teen also mention DBS must cmpesnsate the investors due to their mistakes but why there are so -called investors againt so strongly to sue DBS ? Are they  really " EHT nvestor " or Spies from DBS ? Goldfinger      ( Date: 10-Apr-2021 11:17) Posted: Let the Courts decide if they were not negligent - the Court of public opinion is the strongest offence. dtys1200      ( Date: 10-Apr-2021 11:16) Posted: Grossly ill-performed DD on IPO manager & trustee' s part. After the hi notes fiasco, I am pretty sure DBS would have hired an elite legal team to look at the clauses of their investment products and find ways to reduce their liability or level of fiduciary duty to investors via disclaimers and small prints. Can only hope we are able to recover at least part of our investments
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ipolaris Senior	10-Apr-2021 11:18        ipolaris About Contact  Quote this Post!
x 0   x 0  Alert Admin	Holdings 1. Martin: 2,500,000 units 2. EdTay88: 108,000 units 3. Kasuya: 13,200 units (all via custodian) 4. Azure1984: 14,000 units 5.        wallstreet99: 5,000 units 6. VAW: 2,000,000 units (Custodian) 7. dtys1200: 14,000 units 8. Lawerence83: 30,000 units 9. ipolaris: 30,000 units
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Goldfinger Supreme	10-Apr-2021 11:17        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	Let the Courts decide if they were not negligent - the Court of public opinion is the strongest offence. dtys1200      ( Date: 10-Apr-2021 11:16) Posted: Grossly ill-performed DD on IPO manager & trustee' s part. After the hi notes fiasco, I am pretty sure DBS would have hired an elite legal team to look at the clauses of their investment products and find ways to reduce their liability or level of fiduciary duty to investors via disclaimers and small prints. Can only hope we are able to recover at least part of our investments. Goldfinger      ( Date: 10-Apr-2021 11:07) Posted: Yup - I so totally want to sue DBS too. Just to see those responsible be accountable is also for justice to be done. That is the next step. Let us see how the corporate finance heads there account for this
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dtys1200 Member	10-Apr-2021 11:16        dtys1200 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Grossly ill-performed DD on IPO manager & trustee' s part. After the hi notes fiasco, I am pretty sure DBS would have hired an elite legal team to look at the clauses of their investment products and find ways to reduce their liability or level of fiduciary duty to investors via disclaimers and small prints. Can only hope we are able to recover at least part of our investments. Goldfinger      ( Date: 10-Apr-2021 11:07) Posted: Yup - I so totally want to sue DBS too. Just to see those responsible be accountable is also for justice to be done. That is the next step. Let us see how the corporate finance heads there account for this. anton1967      ( Date: 10-Apr-2021 11:00) Posted: I am not a unitholder of EHT, but I am aware it was DBS who was sole finanacial advisor of the IPO and also the trust manager . DBS earned all the fat fees by doing the DD, brought EHT to the investing public , and why the invesrors are afraid to sue DBS ??? Just because Temasek is the major shareholder of DBS ? Why put in efforts to slavage something that could be ZERO or left with few cents and not going after DBS for full sum of investment  ? Those investors iwho sued  DBS for the Hi -Note investment , got back their full investment ! Believe if the salvage is in the right direction , more victims will be interested to join in . This is just my humble opinion , an effort is an effort , do it right  and the result will be favourable !
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Goldfinger Supreme	10-Apr-2021 11:07        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yup - I so totally want to sue DBS too. Just to see those responsible be accountable is also for justice to be done. That is the next step. Let us see how the corporate finance heads there account for this. anton1967      ( Date: 10-Apr-2021 11:00) Posted: I am not a unitholder of EHT, but I am aware it was DBS who was sole finanacial advisor of the IPO and also the trust manager . DBS earned all the fat fees by doing the DD, brought EHT to the investing public , and why the invesrors are afraid to sue DBS ??? Just because Temasek is the major shareholder of DBS ? Why put in efforts to slavage something that could be ZERO or left with few cents and not going after DBS for full sum of investment  ? Those investors iwho sued  DBS for the Hi -Note investment , got back their full investment ! Believe if the salvage is in the right direction , more victims will be interested to join in . This is just my humble opinion , an effort is an effort , do it right  and the result will be favourable !
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anton1967 Senior	10-Apr-2021 11:00        anton1967 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I am not a unitholder of EHT, but I am aware it was DBS who was sole finanacial advisor of the IPO and also the trust manager . DBS earned all the fat fees by doing the DD, brought EHT to the investing public , and why the invesrors are afraid to sue DBS ??? Just because Temasek is the major shareholder of DBS ? Why put in efforts to slavage something that could be ZERO or left with few cents and not going after DBS for full sum of investment  ? Those investors iwho sued  DBS for the Hi -Note investment , got back their full investment ! Believe if the salvage is in the right direction , more victims will be interested to join in . This is just my humble opinion , an effort is an effort , do it right  and the result will be favourable !
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MartinSG Member	10-Apr-2021 10:54        MartinSG About Contact  Quote this Post!
x 0   x 0  Alert Admin	x 0 Holdings 1. Martin: 2,500,000 units 2. EdTay88: 108,000 units 3. Kasuya: 13,200 units (all via custodian) 4. Azure1984: 14,000 units 5.        wallstreet99: 5,000 units 6. VAW: 2,000,000 units (Custodian) 7. dtys1200: 14,000 units 8. Lawerence83: 30,000 units
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dtys1200 Member	10-Apr-2021 10:50        dtys1200 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Holdings 1. Martin: 2,500,000 units 2. EdTay88: 108,000 units 3. Kasuya: 13,200 units (all via custodian) 4. Azure1984: 14,000 units 5.      wallstreet99: 5,000 units 6. VAW: 2,000,000 units (Custodian) 7. dtys1200: 14,000 units Hoot jit liap hor them si!
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MartinSG Member	10-Apr-2021 10:42        MartinSG About Contact  Quote this Post!
x 0   x 0  Alert Admin	@Curiouslearner, Thank for the info. I have found and join the group. :)
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MartinSG Member	10-Apr-2021 10:33        MartinSG About Contact  Quote this Post!
x 0   x 0  Alert Admin	You can also pm me if you are not convenience to disclose in the chat. We hope to gather enough quantum to move a motion. If you know any of the unitholders that have not joined, please notify them, whether in this chat or other chat channel. You have the right to participate. It is your investment. Thanks, Guys
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PEWVAW Senior	10-Apr-2021 04:06        PEWVAW About Contact  Quote this Post!
x 0   x 0  Alert Admin	Holdings 1. Martin: 2,500,000 units 2. EdTay88: 108,000 units 3. Kasuya: 13,200 units (all via custodian) 4. Azure1984: 14,000 units 5.  wallstreet99: 5,000 units 6. VAW: 2,000,000 units (Custodian)
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CuriousLearner Member	09-Apr-2021 23:25        CuriousLearner About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hi Martin,  Please check your private msg.  MartinSG      ( Date: 09-Apr-2021 13:17) Posted: Hi Fellow unitholders, Thank for your keen response. Please allow me to share some thoughts. 1. With the latest offer by Pheonix, we may get back some money from our investment though it is around $0.03-$0.04 per share(Just estimation) 2. I am with a group that is in consultation with legal advice to see what course we still can address at this moment of time. Agenda: a. To call for EGM and form an equity committee b. To stop the liquidation of assets during this pandemic situation c. To find out the cost for all these and raise funds for continuity of the reit operation d. Source for a potential manager to run the operation (These are just ideas of what we hope to do) 3. I think we need to focus on what we can do to help us from this distress situation. Please help to tabulate your holding in the following message, so I can calculate the amount of percentage we have in this forum. Please remember the quantum of at least 20% will be useful for us to take further positive action for ourselves. 4. Please be reminded that we will only focus on salvage our investment and not on any agenda to pursue on faults on sponsors or trustee, as all these are time-consuming, energy-draining and emotional distress though we all suffer from frustration. 5. @Curiouslearner, can you share the link for joining the group with more than 100 unitholders? 6. Whether you are holding your share in CDP or under custodian, you can join to form a group here. 7. Holding:      Martin: - 2.500.000 units (Please list down your holding, so that we can tabulate the percentage here. For actual name and contact, I will follow up later after tabulation. Thanks)
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lawrence83 Senior	09-Apr-2021 22:46        lawrence83 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Lawrence83 - 30000 units I would like to join in as well wallstreet99      ( Date: 09-Apr-2021 21:19) Posted: Holdings 1. Martin: 2,500,000 units 2. EdTay88: 108,000 units 3. Kasuya: 13,200 units (all via custodian) 4. Azure1984: 14,000 units 5.  wallstreet99: 5,000 units
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wallstreet99 Member	09-Apr-2021 21:19        wallstreet99 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Holdings 1. Martin: 2,500,000 units 2. EdTay88: 108,000 units 3. Kasuya: 13,200 units (all via custodian) 4. Azure1984: 14,000 units 5.  wallstreet99: 5,000 units
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Goldfinger Supreme	09-Apr-2021 21:16        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	Question is whether we can trust DBST to act in our best interest to secure the best possible price, or that it is just keen to sell off the properties and repay all creditor banks.... this is why an EGM to approve the sale is important. laksaman57      ( Date: 09-Apr-2021 20:38) Posted: https://www.google.com/amp/s/www.businesstimes.com.sg/real-estate/blackstone-starwood-to-buy-hotel-operator-for-us6b%3famp "Blackstone Group and Starwood Capital Group agreed to buy Extended Stay America, an operator of hotels and motels, for about US$6 billion, betting the industry will recover as progress in fighting the Covid-19 pandemic accelerates." Goldfinger      ( Date: 09-Apr-2021 17:16) Posted: Dear Ed - Without an EGM to approve the sale of the 15 hotels, which is the bulk of the hotel assets, we would not have any opportunity to query or to block this sale to the Stalking Horse.  In fact, I would rather stop it, and let the process drag, and for an independent Singapore court appointed administrator to settle the sale of the hotels.  Also, the longer this drags, the higher will be the value of the hotels, as COVID comes to an end and as travel in the US resumes. I do not trust DBST at all. They have not shown or demonstrated that they are competent or acting in the best interest of shareholders.  It seems they only want a quick solution....
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laksaman57 Supreme	09-Apr-2021 20:38        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	https://www.google.com/amp/s/www.businesstimes.com.sg/real-estate/blackstone-starwood-to-buy-hotel-operator-for-us6b%3famp "Blackstone Group and Starwood Capital Group agreed to buy Extended Stay America, an operator of hotels and motels, for about US$6 billion, betting the industry will recover as progress in fighting the Covid-19 pandemic accelerates." Goldfinger      ( Date: 09-Apr-2021 17:16) Posted: Dear Ed - Without an EGM to approve the sale of the 15 hotels, which is the bulk of the hotel assets, we would not have any opportunity to query or to block this sale to the Stalking Horse.  In fact, I would rather stop it, and let the process drag, and for an independent Singapore court appointed administrator to settle the sale of the hotels.  Also, the longer this drags, the higher will be the value of the hotels, as COVID comes to an end and as travel in the US resumes. I do not trust DBST at all. They have not shown or demonstrated that they are competent or acting in the best interest of shareholders.  It seems they only want a quick solution.... EdTay88      ( Date: 08-Apr-2021 17:06) Posted: Hi Goldfinger, Thanks for sharing your thoughts. Even if we can hold an EGM, there is actually no predatory bargain price that can be offered which is lower than the bid by the stalking horse of US$470Mil. The purpose of the stalking horse is to establish a minimum entry price for rest of the bidders to up their stakes if they are interested in the hotel portfolio put up for auction. In other words, all " predatory bargain prices" lower than the stalking horses will be rejected straightaway. If there is no bid, the stalking horse will buy over the hotels at the agreed US$470Mil. By exposing their bid upfront at US$470Mil, this actually caused some disadvantage to their (Madison Phoenix LLC) bidding strategy in a normal auction hence if they lose the bid to another buyer who offers higher, the stalking horse gets compensated a break fee of 2% of the bid, that is, US$12.4Mil as well as reimbursement of US$3Mil for professional services fees plus other costs related to becoming a stalking horse. The other technical question is, are we still allow to call for an EGM at this stage of Chapter 11 given that the Court is supposed to be the one handling the entire reorganisation or orderly winding down of EHT? And if so, what is the EGM agenda? There is no pausible agenda currently that is worthwhile to have an EGM (assuming it is still possible). The sales of the hotels in normal circumstances is a forced liquidation by the creditors and bankers- Chapter 11 merely confer the major re-organisation decisions to the court based on my understanding. Any legal folks here want to comment?
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MartinSG Member	09-Apr-2021 17:25        MartinSG About Contact  Quote this Post!
x 0   x 0  Alert Admin	don' t worry about the number of your stake. As long you hold any unit, you have the stake and right to participate. Let' s do it together. Cheers!
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Goldfinger Supreme	09-Apr-2021 17:16        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	Dear Ed - Without an EGM to approve the sale of the 15 hotels, which is the bulk of the hotel assets, we would not have any opportunity to query or to block this sale to the Stalking Horse.  In fact, I would rather stop it, and let the process drag, and for an independent Singapore court appointed administrator to settle the sale of the hotels.  Also, the longer this drags, the higher will be the value of the hotels, as COVID comes to an end and as travel in the US resumes. I do not trust DBST at all. They have not shown or demonstrated that they are competent or acting in the best interest of shareholders.  It seems they only want a quick solution.... EdTay88      ( Date: 08-Apr-2021 17:06) Posted: Hi Goldfinger, Thanks for sharing your thoughts. Even if we can hold an EGM, there is actually no predatory bargain price that can be offered which is lower than the bid by the stalking horse of US$470Mil. The purpose of the stalking horse is to establish a minimum entry price for rest of the bidders to up their stakes if they are interested in the hotel portfolio put up for auction. In other words, all " predatory bargain prices" lower than the stalking horses will be rejected straightaway. If there is no bid, the stalking horse will buy over the hotels at the agreed US$470Mil. By exposing their bid upfront at US$470Mil, this actually caused some disadvantage to their (Madison Phoenix LLC) bidding strategy in a normal auction hence if they lose the bid to another buyer who offers higher, the stalking horse gets compensated a break fee of 2% of the bid, that is, US$12.4Mil as well as reimbursement of US$3Mil for professional services fees plus other costs related to becoming a stalking horse. The other technical question is, are we still allow to call for an EGM at this stage of Chapter 11 given that the Court is supposed to be the one handling the entire reorganisation or orderly winding down of EHT? And if so, what is the EGM agenda? There is no pausible agenda currently that is worthwhile to have an EGM (assuming it is still possible). The sales of the hotels in normal circumstances is a forced liquidation by the creditors and bankers- Chapter 11 merely confer the major re-organisation decisions to the court based on my understanding. Any legal folks here want to comment?  Goldfinger      ( Date: 07-Apr-2021 12:50) Posted: If we cannot get an EGM to approve the sale - it can be sold at bargain basement price to this Stalking Horse.  At least with an EGM - we can vote against any predatory bargain prices. Without an EGM - we get NO say at all.
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Azure1984 Member	09-Apr-2021 16:29        Azure1984 About Contact  Quote this Post! Style: Combined
x 0   x 0  Alert Admin	Hi Martin, Here you go: Holdings 1. Martin: 2,500,000 units 2. EdTay88: 108,000 units 3. Kasuya: 13,200 units (all via custodian) 4. Azure1984: 14,000 units kasuya      ( Date: 09-Apr-2021 15:16) Posted: Holdings 1. Martin: 2,500,000 units 2. EdTay88: 108,000 units 3. Kasuya: 13,200 units (all via custodian) EdTay88      ( Date: 09-Apr-2021 15:12) Posted: Hi Martin, here you go:  Holdings 1. Martin: 2,500,000 units 2. EdTay88: 108,000 unit
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