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Latest Forum Topics / Straits Trading    Last:1.63 --  Post Reply
sunningdale
stanip
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19-Jan-2022 15:31     
 
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 Alert Admin 		Like many here... ST management owes us an explanation on why use equity instead of idle cash on balance sheet.
ST price/book ratio is only 0.79 (i.e. market is only paying 79 cents for each $ assets on ST balance sheet).

In other words, for $80.9m cash raised through this placement, the stock market only values it at 0.79x or $64m in capitalization.
Mathematically, ST only breaks even in capitalization if they found investments that gives them 21% immediate upside. 
Some one should explain their logic to shareholders...  :(
 
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fatpig
Senior
19-Jan-2022 14:05     
 
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 Alert Admin 		Straits Trading Market Cap 1,314M @ 3.4
Private Placement 80M @ 3.11
After placement price should be around SGD 3.38

Market overreact this time.     
 

ichiban      ( Date: 19-Jan-2022 13:56) Posted:

could had done  a non underwritten rights issue, saving cost, 
n i am pretty sure all the rights would be taken up even with a bigger issuance,
then the loyal retail investors would deservedly be given a chance to invest more....

ichiban      ( Date: 19-Jan-2022 13:46) Posted:

RICH GETS RICHER
poor retail investors just watch n salivate
poor state of affair in this present world
the HAVES WILL HAVE MORE
THE HAVE NOTS WILL SOON BE VAPORISE....
in the last 2 years the top 10 billionaires had DOUBLE THEIR NET WORTH......
 
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ichiban
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19-Jan-2022 13:56     
 
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 Alert Admin 		could had done  a non underwritten rights issue, saving cost, 
n i am pretty sure all the rights would be taken up even with a bigger issuance,
then the loyal retail investors would deservedly be given a chance to invest more....

ichiban      ( Date: 19-Jan-2022 13:46) Posted:

RICH GETS RICHER
poor retail investors just watch n salivate
poor state of affair in this present world
the HAVES WILL HAVE MORE
THE HAVE NOTS WILL SOON BE VAPORISE....
in the last 2 years the top 10 billionaires had DOUBLE THEIR NET WORTH......
 

lausk22      ( Date: 19-Jan-2022 12:15) Posted:

Yes, I' m surprised too. Also why didn' t let minor shareholders to have a share through a Right issue. Why confined to private placements for richer investors?
 
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n3wbie
Elite
19-Jan-2022 13:56     
 
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 Alert Admin 		There is not much small shareholders like us can do but hope that it is indeed a move in the right direction for the group' s future growth.

FATABA      ( Date: 19-Jan-2022 11:53) Posted:

I am surprise Chew GK make this move honestly 
Been someone who certainly know and are one of the better lady in this long enough . 
Really puzzle me esp if ST drop below the 3.11 mark and liquidity didnt improve . LOL 
 

n3wbie      ( Date: 19-Jan-2022 11:46) Posted:

Our thoughts are completely aligned sir. The placement was not necessary - there' s sufficient cash on the balance sheet and of all people, they would understand that cost of equity is still significantly more expensive than cost of debt. While we are entering a rising interest rates environment, I am pretty sure they would be able to ringfence some of their unencumbered assets to raise $80m debt quite easily.

There is also no clarity on who some of these ' privileged' shareholders might be who just get them at a nice discount. If the placement is to strategic shareholders who can help accelerate the group' s growth then it is a different story but if it is to raise money among financial investors and/or HNWIs then there is limited value add. Feels like company is raising equity after a very good share price run to prepare for future rainy days without a clear idea to shareholders how they are going to utilise it as yet
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john_ric
Supreme
19-Jan-2022 13:54     
 
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 Alert Admin 		Wat sh9uld be the fair price after dilution?
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ichiban
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19-Jan-2022 13:46     
 
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 Alert Admin 		RICH GETS RICHER
poor retail investors just watch n salivate
poor state of affair in this present world
the HAVES WILL HAVE MORE
THE HAVE NOTS WILL SOON BE VAPORISE....
in the last 2 years the top 10 billionaires had DOUBLE THEIR NET WORTH......
 

lausk22      ( Date: 19-Jan-2022 12:15) Posted:

Yes, I' m surprised too. Also why didn' t let minor shareholders to have a share through a Right issue. Why confined to private placements for richer investors?
 

FATABA      ( Date: 19-Jan-2022 11:53) Posted:

I am surprise Chew GK make this move honestly 
Been someone who certainly know and are one of the better lady in this long enough . 
Really puzzle me esp if ST drop below the 3.11 mark and liquidity didnt improve . LOL 
 
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lausk22
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19-Jan-2022 12:15     
 
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 Alert Admin 		Yes, I' m surprised too. Also why didn' t let minor shareholders to have a share through a Right issue. Why confined to private placements for richer investors?
 

FATABA      ( Date: 19-Jan-2022 11:53) Posted:

I am surprise Chew GK make this move honestly 
Been someone who certainly know and are one of the better lady in this long enough . 
Really puzzle me esp if ST drop below the 3.11 mark and liquidity didnt improve . LOL 
 

n3wbie      ( Date: 19-Jan-2022 11:46) Posted:

Our thoughts are completely aligned sir. The placement was not necessary - there' s sufficient cash on the balance sheet and of all people, they would understand that cost of equity is still significantly more expensive than cost of debt. While we are entering a rising interest rates environment, I am pretty sure they would be able to ringfence some of their unencumbered assets to raise $80m debt quite easily.

There is also no clarity on who some of these ' privileged' shareholders might be who just get them at a nice discount. If the placement is to strategic shareholders who can help accelerate the group' s growth then it is a different story but if it is to raise money among financial investors and/or HNWIs then there is limited value add. Feels like company is raising equity after a very good share price run to prepare for future rainy days without a clear idea to shareholders how they are going to utilise it as yet
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FATABA
Supreme
19-Jan-2022 11:53     
 
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 Alert Admin 		I am surprise Chew GK make this move honestly 
Been someone who certainly know and are one of the better lady in this long enough . 
Really puzzle me esp if ST drop below the 3.11 mark and liquidity didnt improve . LOL 
 

n3wbie      ( Date: 19-Jan-2022 11:46) Posted:

Our thoughts are completely aligned sir. The placement was not necessary - there' s sufficient cash on the balance sheet and of all people, they would understand that cost of equity is still significantly more expensive than cost of debt. While we are entering a rising interest rates environment, I am pretty sure they would be able to ringfence some of their unencumbered assets to raise $80m debt quite easily.

There is also no clarity on who some of these ' privileged' shareholders might be who just get them at a nice discount. If the placement is to strategic shareholders who can help accelerate the group' s growth then it is a different story but if it is to raise money among financial investors and/or HNWIs then there is limited value add. Feels like company is raising equity after a very good share price run to prepare for future rainy days without a clear idea to shareholders how they are going to utilise it as yet.

FATABA      ( Date: 19-Jan-2022 09:00) Posted:

Totally dont see the use for this dilution ....
...will it really increase the liquidaty and more vol will be traded ? 
... this raise amt is not big for ST .....any need they do have enough capital or even take a loan ....so it is really to the benefit 
of some BB to hv it at 3.11 ( making those retail who have hold on to ST for long time unhappy ) 

DYOD
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n3wbie
Elite
19-Jan-2022 11:46     
 
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 Alert Admin 		Our thoughts are completely aligned sir. The placement was not necessary - there' s sufficient cash on the balance sheet and of all people, they would understand that cost of equity is still significantly more expensive than cost of debt. While we are entering a rising interest rates environment, I am pretty sure they would be able to ringfence some of their unencumbered assets to raise $80m debt quite easily.

There is also no clarity on who some of these ' privileged' shareholders might be who just get them at a nice discount. If the placement is to strategic shareholders who can help accelerate the group' s growth then it is a different story but if it is to raise money among financial investors and/or HNWIs then there is limited value add. Feels like company is raising equity after a very good share price run to prepare for future rainy days without a clear idea to shareholders how they are going to utilise it as yet.

FATABA      ( Date: 19-Jan-2022 09:00) Posted:

Totally dont see the use for this dilution ....
...will it really increase the liquidaty and more vol will be traded ? 
... this raise amt is not big for ST .....any need they do have enough capital or even take a loan ....so it is really to the benefit 
of some BB to hv it at 3.11 ( making those retail who have hold on to ST for long time unhappy ) 

DYODD

n3wbie      ( Date: 18-Jan-2022 22:20) Posted:

Wouldn' t ST have unlocked value with the acquisition of ARA by ESR? Not quite sure what' s the rationale for doing an equity raise at this point which dilutes shareholders without clear usage of proceeds?
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FATABA
Supreme
19-Jan-2022 11:29     
 
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 Alert Admin
1. DID any retail investor get this discount ?  Why target only that gp ? 
2. Why not jus do a general offer to existing shareholders ( like lucky draw LOL ) 
3. I guess it is diluting from the current general public SH to benefit and give to the SELECTED gp of " institutional, accredited and other investors."  
Any of you got it ??  LOL 


The placement price represents a discount of 8.9 per cent to the counter' s volume-weighted average price of S$3.4126 for all trades done on Jan 13.
 
Noting that the company' s shares had low trading liquidity, the company expects the private placement can increase resources and working capital, to pursue business opportunities and improve its cash flow.
 
The placement will increase the free float of Straits Trading to 29.8 per cent from 25.3 per cent. The placement shares represent around 6.4 per cent of the total issued shares of the company.
 
Eric Teng, chief executive of Straits Developments, said: " Our strategy was not only to optimise the number of shares in the market, but to enhance the free float and trading liquidity of Straits Trading with a possible increase in total market capitalisation."
The offer of the placement shares will be made to eligible institutional, accredited and other investors.
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woonie
Senior
19-Jan-2022 11:24     
 
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 Alert Admin 		Look, the shareholders stuck waist deep with shares at higher prices of 3.40 to 3.78 watching the placement, outsiders get vip invite to buy at 3.11. 

As incumbent owner of those shares, an existing fan club supporter or just decent loyal member, seeing your shares dive straight to 9%  from 3.40 to 3.11 - shud you be delighted? 

To make this stick, let me reiterate. The great discount goes to the market. You, holding the shares, gets the 9% depreciation immediately. How did you gained value? Is this why no one knows what' s anyone is saying anymore?
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woonie
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19-Jan-2022 11:05     
 
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 Alert Admin 		Chew Gek Khim, Executive Chairman of Straits Trading, says, ' I am delighted with the investment community& rsquo s confidence in the potential of the Group. It is also an endorsement of management and staff to be able to continuously deliver value to our shareholders.'
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Joelton
Supreme
19-Jan-2022 09:39     
 
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 Alert Admin
Straits Trading launches private placement to raise S$80.9m, priced at S$3.11 per share
THE Straits Trading Company Straits Trading: S20 -5.29% on Tuesday (Jan 18) announced the launch of its private placement to raise gross proceeds of S$80.9 million.
 
The conglomerate-investment company will be issuing 26 million shares, priced at S$3.11 each, " to encourage both institutional and individual share ownership" , it said.
 
Net proceeds from the share placement will be used to fund acquisitions and future anticipated growth for the group' s businesses in real estate, resources and hospitality, as well as for general working capital and administrative purposes, Straits Trading said.
 
The placement price represents a discount of 8.9 per cent to the counter' s volume-weighted average price of S$3.4126 for all trades done on Jan 13.
 
Noting that the company' s shares had low trading liquidity, the company expects the private placement can increase resources and working capital, to pursue business opportunities and improve its cash flow.
 
The placement will increase the free float of Straits Trading to 29.8 per cent from 25.3 per cent. The placement shares represent around 6.4 per cent of the total issued shares of the company.
 
Eric Teng, chief executive of Straits Developments, said: " Our strategy was not only to optimise the number of shares in the market, but to enhance the free float and trading liquidity of Straits Trading with a possible increase in total market capitalisation."
 
The offer of the placement shares will be made to eligible institutional, accredited and other investors.
 
CLSA Singapore, DBS, UOB, Philip Securities, Maybank Securities and RHB are the joint placement agents for the share placement.
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FATABA
Supreme
19-Jan-2022 09:00     
 
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 Alert Admin 		Totally dont see the use for this dilution ....
...will it really increase the liquidaty and more vol will be traded ? 
... this raise amt is not big for ST .....any need they do have enough capital or even take a loan ....so it is really to the benefit 
of some BB to hv it at 3.11 ( making those retail who have hold on to ST for long time unhappy ) 

DYODD

n3wbie      ( Date: 18-Jan-2022 22:20) Posted:

Wouldn' t ST have unlocked value with the acquisition of ARA by ESR? Not quite sure what' s the rationale for doing an equity raise at this point which dilutes shareholders without clear usage of proceeds?
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MakeChanges
Elite
19-Jan-2022 08:08     
 
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 Alert Admin 		Straits Trading Enhances Trading Liquidity with Share Placement


The Straits Trading Company Limited (' Straits Trading'
or the ' Group' ) today announced its share placement exercise, a strategy by the Group to
broaden the institutional and individual investor base.
The placement shares, representing in aggregate approximately 6.39% of the total existing
issued shares of Straits Trading, will increase the free float of Straits Trading from
approximately 25.33% to 29.82% and is expected to improve trading liquidity.

Mr Eric Teng, Chief Executive Officer of Straits Developments Private Limited, says, ' The
share placement is an important first step to address the low trading liquidity of Straits Trading
shares on the SGX. Our strategy was not only to optimise the number of shares in the market,
but to enhance the free float and trading liquidity of Straits Trading with a possible increase in
total market capitalisation.'

The issue price of S$3.11 per placement share will raise gross proceeds of S$80.86 million
via the issuance of 26 million new ordinary shares. The issue price of the share placement
represents an approximate 8.9% discount to the volume-weighted average share price of
S$3.4126 of all trades in Straits Trading shares on the SGX on 13 January 2022. Based on
the closing price of S$3.41 on 13 January 2022, Straits Trading' s market capitalisation was
approximately S$1.38 billion.

Straits Trading intends to use the net proceeds from the share placement for potential
acquisitions and/or business opportunities available from time to time.
Ms Chew Gek Khim, Executive Chairman of Straits Trading, says, ' I am delighted with the
investment community&rsquo s confidence in the potential of the Group. It is also an endorsement of
management and staff to be able to continuously deliver value to our shareholders.'
 
For the half year reporting period ended 30 June 2021, Straits Trading' s profit after tax and
profit after tax and non-controlling interests registered approximately S$141.6 million and
S$122.6 million respectively, on stronger contributions from the Group&rsquo s real estate and
resources segments. Straits Trading' s total assets stood at approximately S$3.06 billion.
CLSA Singapore Pte Ltd, DBS Bank Ltd., Maybank Securities Pte Ltd., Phillip Securities Pte
Ltd, RHB Bank Berhad and United Overseas Bank Limited are the joint placement agents for
the share placement.



 
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n3wbie
Elite
18-Jan-2022 22:20     
 
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 Alert Admin 		Wouldn' t ST have unlocked value with the acquisition of ARA by ESR? Not quite sure what' s the rationale for doing an equity raise at this point which dilutes shareholders without clear usage of proceeds?
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moonsun
Veteran
18-Jan-2022 20:24     
 
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 Alert Admin 		Hopefully should recover .. :)
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FATABA
Supreme
18-Jan-2022 08:46     
 
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 Alert Admin 		Wow ...w new issue shares....diluted and at 3.11 ,  giving immediate profit to this BB ..
Retail again at a disadvantage > > > >
Dyodd

FATABA      ( Date: 17-Jan-2022 15:47) Posted:

WHY halt so long ???  what is going on ....anyone know?? 
 

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MakeChanges
Elite
18-Jan-2022 08:01     
 
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 Alert Admin 		LIFTED

MakeChanges      ( Date: 14-Jan-2022 08:47) Posted:

TRADING HALT !
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FATABA
Supreme
17-Jan-2022 15:47     
 
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 Alert Admin 		WHY halt so long ???  what is going on ....anyone know?? 
 
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