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Latest Forum Topics / Hong Fok    Last:0.96 --  Post Reply
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finjungle
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04-Mar-2023 12:06     
 
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 Alert Admin 		I attended Frasers Property Ltd recent AGM in person at the Intercontinental Hotel at Middle Road.

But knowing the Cheongs it is most likely to conduct the next AGM virtually. They don' t wish to fact the minority shareholders.

Ftyeng      ( Date: 04-Mar-2023 09:11) Posted:

Whatever the case for those wishing to attend the AGMs in future years, please take note that this year' s AGM most likely would be carried out on the internet as on-site AGMs would only start from July 2023 onwards:  https://www.sgxgroup.com/media-centre/20221215-sgx-listed-issuers-return-physical-general-meetings-when-govts  .
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Ftyeng
Senior
04-Mar-2023 09:11     
 
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 Alert Admin 		Whatever the case for those wishing to attend the AGMs in future years, please take note that this year' s AGM most likely would be carried out on the internet as on-site AGMs would only start from July 2023 onwards:  https://www.sgxgroup.com/media-centre/20221215-sgx-listed-issuers-return-physical-general-meetings-when-govts  .
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tankoksee
Supreme
03-Mar-2023 16:49     
 
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 Alert Admin 		call the authorities to attend the AGM ...layes

finjungle      ( Date: 03-Mar-2023 16:28) Posted:

I am pleased to see interest in this counter. I raised questions at the AGM when we could attend physically. 

The Cheongs are paying themselves   based on unrealised non- cash revaluation gains on investment properties. They will be paying themselves in such a manner again using real cash to pay themselves. There is no cash inflows into the company on these revaluation gains. 

What can the small shareholders like us   to them. Now with the encouragement of SGX and it' s sister regulators yi hokd virtual AGMs the Cheongs would not have to face shareholder like me. 

Could someone be kind enough to organise to gather small shareholders together to speak as one voice?

Ftyeng      ( Date: 03-Mar-2023 14:50) Posted:

 

Known facts:
================
[AR2021]:  http://hongfok.listedcompany.com/newsroom/20220405_072135_H30_ELJW807WWFZY6L8P.1.pdf.

  1. 7 board members including 3 independent directors [page 5]
  2. 4 million-dollar compensation payout personnels 3 1/2- million compensation payout personnels [page 20].
  3. Total 5826 shareholders ( actual no more as some under nominee companies ) [page 122]

 

[Latest financial report] :  https://links.sgx.com/FileOpen/HFCAnn2022.ashx?App=Announcement& FileID=748719  :

  1. Company made $0.3372/share in 2022.
  2. Net profit attributable to shareholders: $220 million.    However $197.339 million of gross profits came from re-evaluation of    investment properties which means very little money came from current operations relative to the mkt cap (which is around $650 million if $1/share).   Which means company only made net profit of $22.661 million excluding fair-value reassessments.
  3. Around $6.5 million are to be paid out as dividends (650 million x $0.01) 
Minority shareholders could determine certain things [last 2 pages of AR2021 (proxy form) ]

--------------------------------------------------------

1 Directors&rsquo Statement and Audited Financial Statements

2 Declaration of First and Final Dividend of 1 cent

3 To approve the payment of Directors&rsquo fees of $353,640 for the financial year ending 31 December 2022

4 Re-election of Mr Cheong Pin Chuan as Director retiring under Regulation 104

5 Re-election of Ms Cheong Hooi Kheng as Director retiring under Regulation 104

6 Re-election of Mr Chong Weng Hoe as Director retiring under Regulation 114

  7 Re-appointment of Auditors

8 Authority to issue Shares and Convertible Securities

9 Renewal of Share Buy-Back Mandate

-------------------------------------------

They could also ask questions at AGM.


 



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finjungle
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03-Mar-2023 16:28     
 
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 Alert Admin 		I am pleased to see interest in this counter. I raised questions at the AGM when we could attend physically. 

The Cheongs are paying themselves   based on unrealised non- cash revaluation gains on investment properties. They will be paying themselves in such a manner again using real cash to pay themselves. There is no cash inflows into the company on these revaluation gains. 

What can the small shareholders like us   to them. Now with the encouragement of SGX and it' s sister regulators yi hokd virtual AGMs the Cheongs would not have to face shareholder like me. 

Could someone be kind enough to organise to gather small shareholders together to speak as one voice?

Ftyeng      ( Date: 03-Mar-2023 14:50) Posted:

 

Known facts:
================
[AR2021]:  http://hongfok.listedcompany.com/newsroom/20220405_072135_H30_ELJW807WWFZY6L8P.1.pdf.

  1. 7 board members including 3 independent directors [page 5]
  2. 4 million-dollar compensation payout personnels 3 1/2- million compensation payout personnels [page 20].
  3. Total 5826 shareholders ( actual no more as some under nominee companies ) [page 122]

 

[Latest financial report] :  https://links.sgx.com/FileOpen/HFCAnn2022.ashx?App=Announcement& FileID=748719  :

  1. Company made $0.3372/share in 2022.
  2. Net profit attributable to shareholders: $220 million.    However $197.339 million of gross profits came from re-evaluation of    investment properties which means very little money came from current operations relative to the mkt cap (which is around $650 million if $1/share).   Which means company only made net profit of $22.661 million excluding fair-value reassessments.
  3. Around $6.5 million are to be paid out as dividends (650 million x $0.01) 
Minority shareholders could determine certain things [last 2 pages of AR2021 (proxy form) ]

--------------------------------------------------------

1 Directors&rsquo Statement and Audited Financial Statements

2 Declaration of First and Final Dividend of 1 cent

3 To approve the payment of Directors&rsquo fees of $353,640 for the financial year ending 31 December 2022

4 Re-election of Mr Cheong Pin Chuan as Director retiring under Regulation 104

5 Re-election of Ms Cheong Hooi Kheng as Director retiring under Regulation 104

6 Re-election of Mr Chong Weng Hoe as Director retiring under Regulation 114

  7 Re-appointment of Auditors

8 Authority to issue Shares and Convertible Securities

9 Renewal of Share Buy-Back Mandate

-------------------------------------------

They could also ask questions at AGM.


 


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Ftyeng
Senior
03-Mar-2023 14:50     
 
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 Alert Admin
 

Known facts:
================
[AR2021]:  http://hongfok.listedcompany.com/newsroom/20220405_072135_H30_ELJW807WWFZY6L8P.1.pdf.

  1. 7 board members including 3 independent directors [page 5]
  2. 4 million-dollar compensation payout personnels 3 1/2- million compensation payout personnels [page 20].
  3. Total 5826 shareholders ( actual no more as some under nominee companies ) [page 122]

 

[Latest financial report] :  https://links.sgx.com/FileOpen/HFCAnn2022.ashx?App=Announcement& FileID=748719  :

  1. Company made $0.3372/share in 2022.
  2. Net profit attributable to shareholders: $220 million.    However $197.339 million of gross profits came from re-evaluation of    investment properties which means very little money came from current operations relative to the mkt cap (which is around $650 million if $1/share).   Which means company only made net profit of $22.661 million excluding fair-value reassessments.
  3. Around $6.5 million are to be paid out as dividends (650 million x $0.01) 
Minority shareholders could determine certain things [last 2 pages of AR2021 (proxy form) ]

--------------------------------------------------------

1 Directors&rsquo Statement and Audited Financial Statements

2 Declaration of First and Final Dividend of 1 cent

3 To approve the payment of Directors&rsquo fees of $353,640 for the financial year ending 31 December 2022

4 Re-election of Mr Cheong Pin Chuan as Director retiring under Regulation 104

5 Re-election of Ms Cheong Hooi Kheng as Director retiring under Regulation 104

6 Re-election of Mr Chong Weng Hoe as Director retiring under Regulation 114

  7 Re-appointment of Auditors

8 Authority to issue Shares and Convertible Securities

9 Renewal of Share Buy-Back Mandate

-------------------------------------------

They could also ask questions at AGM.


 

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tankoksee
Supreme
03-Mar-2023 14:35     
 
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 Alert Admin 		maybe CDL can oso reap $2 bio from here...

to patch up their losses in China..

the serious opportunity is here...yes

7ocean      ( Date: 03-Mar-2023 14:22) Posted:

We hope Tycoon Oei Hong Leong Load their share be a directorship....Mr Oei always looking for super rich capital company...

pcxiao2008      ( Date: 03-Mar-2023 14:01) Posted:

BB did not collect enough yet ytd...vol not there yet...BB action later?
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7ocean
Master
03-Mar-2023 14:22     
 
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 Alert Admin 		We hope Tycoon Oei Hong Leong Load their share be a directorship....Mr Oei always looking for super rich capital company...

pcxiao2008      ( Date: 03-Mar-2023 14:01) Posted:

BB did not collect enough yet ytd...vol not there yet...BB action later?
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pcxiao2008
Master
03-Mar-2023 14:01     
 
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 Alert Admin 		BB did not collect enough yet ytd...vol not there yet...BB action later?
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tankoksee
Supreme
03-Mar-2023 13:50     
 
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 Alert Admin 		our Temasek is $$ rich...

come out $600 mio n buy out the co at $1..then strip the assets for easily $2 bio profits

that' s more than enough to cover all FTX cryto losses n 

kick out all the cheong families...yes

easywin      ( Date: 03-Mar-2023 13:29) Posted:

Must got people lodge a complaint before the authorities can proceed.

tankoksee      ( Date: 03-Mar-2023 13:14) Posted:

this seems very suspicious that all the assets if valued fairly n correctly at $3.45

then the share price should be closer to $2 at least..

instead, it is below $1.....

this should warrant authorities' attention n concern...yes
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easywin
Supreme
03-Mar-2023 13:29     
 
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 Alert Admin 		Must got people lodge a complaint before the authorities can proceed.

tankoksee      ( Date: 03-Mar-2023 13:14) Posted:

this seems very suspicious that all the assets if valued fairly n correctly at $3.45

then the share price should be closer to $2 at least..

instead, it is below $1.....

this should warrant authorities' attention n concern...yes

tankoksee      ( Date: 03-Mar-2023 12:58) Posted:

can request CAD/MAS/MOF/SGX/SIAS to investigate if these assets are real or fake?yes
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tankoksee
Supreme
03-Mar-2023 13:14     
 
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 Alert Admin 		this seems very suspicious that all the assets if valued fairly n correctly at $3.45

then the share price should be closer to $2 at least..

instead, it is below $1.....

this should warrant authorities' attention n concern...yes

tankoksee      ( Date: 03-Mar-2023 12:58) Posted:

can request CAD/MAS/MOF/SGX/SIAS to investigate if these assets are real or fake?yes

ooptimizer      ( Date: 02-Mar-2023 16:04) Posted:

Hi, anybody got do the NAV calculations or where to find the calculations of NAV to be $3.45? How to make sure its real? Thanks
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tankoksee
Supreme
03-Mar-2023 13:05     
 
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 Alert Admin 		$3.45 selling below $1....

get all hdb bto applicants buy out the co n reap the profits better!heart

tankoksee      ( Date: 03-Mar-2023 12:58) Posted:

can request CAD/MAS/MOF/SGX/SIAS to investigate if these assets are real or fake?yes

ooptimizer      ( Date: 02-Mar-2023 16:04) Posted:

Hi, anybody got do the NAV calculations or where to find the calculations of NAV to be $3.45? How to make sure its real? Thanks
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tankoksee
Supreme
03-Mar-2023 12:58     
 
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 Alert Admin 		can request CAD/MAS/MOF/SGX/SIAS to investigate if these assets are real or fake?yes

ooptimizer      ( Date: 02-Mar-2023 16:04) Posted:

Hi, anybody got do the NAV calculations or where to find the calculations of NAV to be $3.45? How to make sure its real? Thanks
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easywin
Supreme
03-Mar-2023 10:36     
 
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 Alert Admin 		Such a stingy company do you think can offer something favorable to shorehoders?

mrwise      ( Date: 03-Mar-2023 10:24) Posted:

hahaha...u think only 1 day show??  I dont think so.....

We shall watch the big show.....

muifan      ( Date: 03-Mar-2023 10:16) Posted:

yah...really always 1 day show....sian ....
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mrwise
Supreme
03-Mar-2023 10:24     
 
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 Alert Admin 		hahaha...u think only 1 day show??  I dont think so.....

We shall watch the big show.....

muifan      ( Date: 03-Mar-2023 10:16) Posted:

yah...really always 1 day show....sian .....

easywin      ( Date: 03-Mar-2023 10:14) Posted:

Always one day show, do not have high expectation about privatization that has been talked long ag
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muifan
Supreme
03-Mar-2023 10:16     
 
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 Alert Admin 		yah...really always 1 day show....sian .....

easywin      ( Date: 03-Mar-2023 10:14) Posted:

Always one day show, do not have high expectation about privatization that has been talked long ago

muifan      ( Date: 03-Mar-2023 10:10) Posted:

so quiet today no need guess also zai zai liao.....
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easywin
Supreme
03-Mar-2023 10:14     
 
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 Alert Admin 		Always one day show, do not have high expectation about privatization that has been talked long ago

muifan      ( Date: 03-Mar-2023 10:10) Posted:

so quiet today no need guess also zai zai liao.....
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savinma
Member
02-Mar-2023 20:54     
 
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 Alert Admin 		this is like Groundhog Day, repeating every year since 2017/2018.

The NAV is overly inflated due to their unique calculations to put under one umbrella, though it is extremely tempting as in the worse scenario, its still a bargain price.
the directors continue to pay themselves a small fortune yearly while giving measly dividend of 1c to the hopeful shareholders.

am vested, but neck is really straining year after year waiting for that elusive privatisation.

PS: Every year, can see mrwise shouting and cheering for $2 or thereabouts. each time he is advocating, my hopes are diminished slightly. Not sure what the correlation is, but I suspect when mrwise stops screaming undervalue! privatise!, then could then be real  devil  half joking.

caveat emptor

joe1991      ( Date: 03-Feb-2023 13:37) Posted:

My old neighbour wait til peng san le...😔 😔

TikTalk      ( Date: 03-Feb-2023 12:06) Posted:

Every year shout for privatization, may get it right one day but dunno wrong for how many years liao...cheeky
wakakakaka
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unclebond
Master
02-Mar-2023 20:28     
 
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 Alert Admin 		maybe this year we all try to attend the agm and make the same request.
 

fruitfulness      ( Date: 02-Mar-2023 18:04) Posted:

The Cheongs are like this! At one AGM meeting before Covid, one shareholder kept scolding them and said they should reduce their $13+ million annual pay to give shareholders 1 more cent in dividend!  I heard actually HongFok didn' t even give 1 cent dividend some years ago!!!

7ocean      ( Date: 02-Mar-2023 17:45) Posted:

Earning so much,,, Buy given only 1cent dividend... KNN very neow...
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fruitfulness
Veteran
02-Mar-2023 18:04     
 
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Yells: "May the Lord God establish the works of my hands!"
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 Alert Admin 		The Cheongs are like this! At one AGM meeting before Covid, one shareholder kept scolding them and said they should reduce their $13+ million annual pay to give shareholders 1 more cent in dividend!  I heard actually HongFok didn' t even give 1 cent dividend some years ago!!!

7ocean      ( Date: 02-Mar-2023 17:45) Posted:

Earning so much,,, Buy given only 1cent dividend... KNN very neow....

unclebond      ( Date: 02-Mar-2023 17:11) Posted:

https://www.theedgesingapore.com/capital/results/hong-fok-fy2022-earnings-466-revaluation-gains

Hong Fok FY2022 earnings up 466% on revaluation gains
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