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Starship Supreme	13-Feb-2020 16:11        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	CES suddenly Trading Halt !!!!!!!! Don' t tell me crashed until all-time low, now privatise on the cheap.
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CELSupporter Member	10-Feb-2020 15:51        CELSupporter About Contact  Quote this Post!
x 0   x 0  Alert Admin	http://www.ljcws.com/m/view.php?aid=42 Whitelist #06, Yuanda. The company CES purchase last year on the Software Education.
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Starship Supreme	29-Jan-2020 17:35        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	Somethig smells Fishy with this Clown Fish Stock. Set new All-time Low again ---- $0.575. From construction, to children' s education and now a lagoon in Indian Ocean.  SGX said to be investigating the buyout fm original CS but till nw still no findings announced.  Chip Eng Seng enters JV to acquire Maldives lagoon for resort project 14 Oct 2019 Chip Eng Seng&rsquo s wholly owned subsidiary CES Hotels (Maldives) has entered a joint venture with Tropical Developments (TDPL), which is an affiliate of Amin Construction, to acquire a leasehold interest in a lagoon in the Maldives, the Singapore company said in a filing to SGX Monday. The lagoon, located in North Male Atoll, is expected to be developed into a five-star resort, which will be Chip Eng Seng&rsquo s second in the Maldives, the filing said. &ldquo The company has been keen on extending its footprint in the hospitality sector in the Maldives and has been on the lookout for a viable opportunity to own and develop its second resort,&rdquo Chip Eng Seng said. &ldquo The company is of the view that the lagoon, which has a tenure of 50 years commencing from 9 August 2016, presents such opportunity.&rdquo The joint venture, called CES Tropical (Maldives), will be 70 percent owned by CES Hotels, with TDPL holding the remainder, the filing said, adding each party committed to funding US$7 million and US$3 million respectively. Amin Construction, a construction firm in the Maldives, was the main developer for Chip Eng Seng&rsquo s first Maldives hospitality project, the filing said. &ldquo As the company has maintained a good working relationship with Amin Construction, the company is of the view that a joint venture with Amin Construction (through TDPL) would be a complementary one,&rdquo Chip Eng Seng said. While the current owner of the lagoon leasehold is also an affiliate of TDPL and Amin Construction, the consideration won&rsquo t exceed the cost the current leasehold owner paid to acquire the interest from an unrelated third party, the filing said.   https://shentonwire.net/2019/10/14/chip-eng-seng-enters-jv-to-acquire-maldives-lagoon-for-resort-project/
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CandyCrusher Veteran	20-Nov-2019 09:20        CandyCrusher About Contact  Quote this Post!
x 0   x 0  Alert Admin	Secretly buying up in the shadows
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bishan22 Supreme	19-Nov-2019 19:42        bishan22 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Good closing...making a u turn.....
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johnng Supreme	19-Nov-2019 16:26        johnng About Contact  Quote this Post!
x 0   x 0  Alert Admin	rise already...can short some
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CandyCrusher Veteran	19-Nov-2019 11:35        CandyCrusher About Contact  Quote this Post!
x 0   x 0  Alert Admin	Unusual movement today, looks like the Tangs are on the move?
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Maxgrow68 Elite	15-Oct-2019 14:06        Maxgrow68 About Contact  Quote this Post!   Yells: "Right and Kind. Choose Kind then you are always Right !"
x 0   x 0  Alert Admin	Regardless the outcome, they win. Daylight robbery !! sdpartie      ( Date: 15-Oct-2019 14:02) Posted: This was their grand plan alla long ... to fllece and dilute minority shareholders ! Welcome to the Singapore sotck exchange ! Starship      ( Date: 15-Oct-2019 00:11) Posted: What a joke. Chip Eng Seng 1-for-4 rights issue draws poor interest MON, OCT 14, 2019 - 11:23 PM POOR interest from minority shareholders has resulted in Chip Eng Seng insiders taking up the bulk of shares in its controversial rights issue. The property and construction group said on Monday that controlling shareholders Celine and Gordon Tang will subscribe for  73,321,153 rights shares or  46.85 per cent of all the rights shares being issued, as part of their sub-underwriting agreement. The  1-for-4  rights  issue announced in August has attracted total valid acceptances and excess applications of  83,182,362 or 53.15 per cent of all shares offered. This number includes the  irrevocable undertakings from the Tangs  and chief executive Raymond Chia to subscribe for their share of the rights, which account for  approximately 31.51 per cent of all shares offered. The rights were offered at 63 Singapore cents per share, higher than Chip Eng Seng' s market price of 62.5 Singapore cents on Monday.  The Tangs stand to receive a sub-underwriting fee of 1.5 per cent of the gross proceeds from the underwritten  rights  shares, as part of the sub-underwriting agreement. https://www.businesstimes.com.sg/companies-markets/chip-eng-seng-1-for-4-rights-issue-draws-poor-interest
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sdpartie Member	15-Oct-2019 14:02        sdpartie About Contact  Quote this Post!
x 0   x 0  Alert Admin	This was their grand plan alla long ... to fllece and dilute minority shareholders ! Welcome to the Singapore sotck exchange ! Starship      ( Date: 15-Oct-2019 00:11) Posted: What a joke. Chip Eng Seng 1-for-4 rights issue draws poor interest MON, OCT 14, 2019 - 11:23 PM POOR interest from minority shareholders has resulted in Chip Eng Seng insiders taking up the bulk of shares in its controversial rights issue. The property and construction group said on Monday that controlling shareholders Celine and Gordon Tang will subscribe for  73,321,153 rights shares or  46.85 per cent of all the rights shares being issued, as part of their sub-underwriting agreement. The  1-for-4  rights  issue announced in August has attracted total valid acceptances and excess applications of  83,182,362 or 53.15 per cent of all shares offered. This number includes the  irrevocable undertakings from the Tangs  and chief executive Raymond Chia to subscribe for their share of the rights, which account for  approximately 31.51 per cent of all shares offered. The rights were offered at 63 Singapore cents per share, higher than Chip Eng Seng' s market price of 62.5 Singapore cents on Monday.  The Tangs stand to receive a sub-underwriting fee of 1.5 per cent of the gross proceeds from the underwritten  rights  shares, as part of the sub-underwriting agreement. https://www.businesstimes.com.sg/companies-markets/chip-eng-seng-1-for-4-rights-issue-draws-poor-interest
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sbscap Master	15-Oct-2019 10:56        sbscap About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	The 1.5% subunderwriting fee is quite fair, mabye even low for small caps and problematic companies. There are many ways to fleece a public company by controlling shareholder(s) and the 1.5% subunderwriting fee isn' t one. The usual ones are hiring related people and pay them a shit load of money while doing nothing.
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Starship Supreme	15-Oct-2019 00:11        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	What a joke. Chip Eng Seng 1-for-4 rights issue draws poor interest MON, OCT 14, 2019 - 11:23 PM POOR interest from minority shareholders has resulted in Chip Eng Seng insiders taking up the bulk of shares in its controversial rights issue. The property and construction group said on Monday that controlling shareholders Celine and Gordon Tang will subscribe for  73,321,153 rights shares or  46.85 per cent of all the rights shares being issued, as part of their sub-underwriting agreement. The  1-for-4  rights  issue announced in August has attracted total valid acceptances and excess applications of  83,182,362 or 53.15 per cent of all shares offered. This number includes the  irrevocable undertakings from the Tangs  and chief executive Raymond Chia to subscribe for their share of the rights, which account for  approximately 31.51 per cent of all shares offered. The rights were offered at 63 Singapore cents per share, higher than Chip Eng Seng' s market price of 62.5 Singapore cents on Monday.  The Tangs stand to receive a sub-underwriting fee of 1.5 per cent of the gross proceeds from the underwritten  rights  shares, as part of the sub-underwriting agreement. https://www.businesstimes.com.sg/companies-markets/chip-eng-seng-1-for-4-rights-issue-draws-poor-interest
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TA_Expert Supreme	24-Sep-2019 14:02        TA_Expert About Contact  Quote this Post!   Yells: "The World has changed"
x 0   x 0  Alert Admin	Sinkies thought that they are very smart to jv wtih Ah Tiong until they gotten swallowed up without any bones left. Having said that, Sinkies are still going to mainland to do businesses due to huge market. Maxgrow68      ( Date: 24-Sep-2019 13:16) Posted: Until you face them at the retail biz level not at high govt level... There are many stories of local biz tie up with them and went bust at the individual entperenurial level... Of course with govt  and agency level involvement, better chance of positive outcome. Like the Suzhou Ind Park almost failed until LKY stepped in and talked to their govt leadership!  TA_Expert      ( Date: 24-Sep-2019 10:37) Posted: Are you sure? You are not singing the same tune as our government leh..
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Maxgrow68 Elite	24-Sep-2019 13:16        Maxgrow68 About Contact  Quote this Post!   Yells: "Right and Kind. Choose Kind then you are always Right !"
x 0   x 0  Alert Admin	Until you face them at the retail biz level not at high govt level... There are many stories of local biz tie up with them and went bust at the individual entperenurial level... Of course with govt  and agency level involvement, better chance of positive outcome. Like the Suzhou Ind Park almost failed until LKY stepped in and talked to their govt leadership!  TA_Expert      ( Date: 24-Sep-2019 10:37) Posted: Are you sure? You are not singing the same tune as our government leh... Maxgrow68      ( Date: 24-Sep-2019 10:00) Posted: Nvr trust the China mainlanders
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TA_Expert Supreme	24-Sep-2019 10:37        TA_Expert About Contact  Quote this Post!   Yells: "The World has changed"
x 0   x 0  Alert Admin	Are you sure? You are not singing the same tune as our government leh... Maxgrow68      ( Date: 24-Sep-2019 10:00) Posted: Nvr trust the China mainlanders! Starship      ( Date: 23-Sep-2019 18:06) Posted: This Rights Issue must be the world' s greatest joke.
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Maxgrow68 Elite	24-Sep-2019 10:00        Maxgrow68 About Contact  Quote this Post!   Yells: "Right and Kind. Choose Kind then you are always Right !"
x 0   x 0  Alert Admin	Nvr trust the China mainlanders! Starship      ( Date: 23-Sep-2019 18:06) Posted: This Rights Issue must be the world' s greatest joke.
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Starship Supreme	23-Sep-2019 18:06        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	This Rights Issue must be the world' s greatest joke.
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sdpartie Member	18-Sep-2019 16:40        sdpartie About Contact  Quote this Post!
x 0   x 0  Alert Admin	Why question now? But cannot do anything ... too little too late ....  for the minority shareholders Shame  on the part of the previous controlling shareholders &   the current controlling shareholders ...
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Starship Supreme	18-Sep-2019 10:25        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	Those unsrupulous ppl basically going to takeover the company on the cheap by taking up all the unsubscribed rights since retaliers/etc will not subscribe.   Maxgrow68      ( Date: 18-Sep-2019 10:19) Posted: Px now hovers 0.630 which is  the Rights Issue Px.  Idiot, cannot trust these ppl. Retail investors kenna again. Starship      ( Date: 18-Sep-2019 09:23) Posted: Finally investigation into the acquisition by the Tangs.    But probably too late for retails who lost big as the SIC continued to fail them yet again. Very disgraceful shannaningans is the SGX Circus Maximus yet again. Securities watchdog looking into billionaire couple' s purchase of Chip Eng Seng shares WED, SEP 18, 2019 - 5:50 AM THE Securities Industries Council (SIC), which administers Singapore' s takeover code, is looking into the circumstances that saw billionaire couple Celine and Gordon Tang emerge as substantial shareholders of Chip Eng Seng in October last year. " The SIC is looking into the acquisition of shares in the company in October 2018 by the relevant parties," the council said on Tuesday in response to queries from The Business Times. " As our enquiry is on-going, we are not able to comment further at this point." The Tangs forked out S$201 million to become Chip Eng Seng' s largest shareholders last October, through married deals with members of Chip Eng Seng' s controlling Lim family that were done at a premium to the market price. However, the Tangs chose not to buy out the Lim family' s entire stake. Instead, they bought enough to take their stake to 29.73 per cent. By keeping their ownership below 30 per cent, the Tangs avoided having to buy out Chip Eng Seng' s minority shareholders at the same price that the insiders were bought out. So when Chip Eng Seng proposed a rights issue last month that will be sub-underwritten by the Tangs, corporate governance advocates raised concerns that the relatively unattractive rights offering could lead to the Tangs raising their stake to as high as 43.43 per cent of the enlarged issued capital, allowing them to strengthen their control over the property and construction group without paying minority shareholders a dime. The SIC declined to comment on why it is revisiting last year' s married deals now. In July, it greenlighted the Tangs' request to waive their obligation to buy out everyone if their ownership crosses 30 per cent as part of the rights issue. The council' s statement on Tuesday came after BT asked it to explain its rationale for the waiver. Rule 14(6) of the takeover code requires the Tangs to make a takeover offer for Chip Eng Seng if the council judges that the couple have " a significant degree of control" over the voting rights of those insiders who sold them only part of their shares. Corporate governance activists Mak Yuen Teen and Chew Yi Hong had argued in the pages of BT last week that the Tangs do indeed have effective control over the company, which they believe puts the rationale for the rights issue into question. Even if the Tangs keep their ownership below 30 per cent, the code states that " the payment of a very high price for the voting rights would tend to suggest that control over the entire holding (of the sellers) was being secured" , among other things. The Tangs paid the Lims a premium of 26.5 cents (or about 33 per cent) to the average undisturbed price of 81.5 cents for their shares last year, wrote Prof Mak and Mr Chew, which works out to a control premium of about S$49 million. Prof Mak said on Tuesday: " I think the issues of concert parties, partial sales, payment of a high price, independence of directors and corporate actions like the rights issue we saw in Chip Eng Seng need to be scrutinised. It' s good if the SIC is looking at it." When BT approached Chip Eng Seng' s board of directors for comment on Tuesday, independent director Abdul Jabbar said: " As the acquisition of shares is a shareholder issue which does not involve the company and there is an enquiry by the SIC on going, it would not be appropriate for the board of CES (Chip Eng Seng) to comment on this. " From CES' perspective, our corporate strategic growth plans and need for funding remain in place, and, barring any unforeseen developments, we intend to proceed with the rights issue as planned." The SIC follows due process in its enquiries. It cannot halt a company' s corporate actions without the backing of its findings. https://www.businesstimes.com.sg/companies-markets/securities-watchdog-looking-into-billionaire-couples-purchase-of-chip-eng-seng
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Maxgrow68 Elite	18-Sep-2019 10:19        Maxgrow68 About Contact  Quote this Post!   Yells: "Right and Kind. Choose Kind then you are always Right !"
x 0   x 0  Alert Admin	Px now hovers 0.630 which is  the Rights Issue Px.  Idiot, cannot trust these ppl. Retail investors kenna again. Starship      ( Date: 18-Sep-2019 09:23) Posted: Finally investigation into the acquisition by the Tangs.    But probably too late for retails who lost big as the SIC continued to fail them yet again. Very disgraceful shannaningans is the SGX Circus Maximus yet again. Securities watchdog looking into billionaire couple' s purchase of Chip Eng Seng shares WED, SEP 18, 2019 - 5:50 AM THE Securities Industries Council (SIC), which administers Singapore' s takeover code, is looking into the circumstances that saw billionaire couple Celine and Gordon Tang emerge as substantial shareholders of Chip Eng Seng in October last year. " The SIC is looking into the acquisition of shares in the company in October 2018 by the relevant parties," the council said on Tuesday in response to queries from The Business Times. " As our enquiry is on-going, we are not able to comment further at this point." The Tangs forked out S$201 million to become Chip Eng Seng' s largest shareholders last October, through married deals with members of Chip Eng Seng' s controlling Lim family that were done at a premium to the market price. However, the Tangs chose not to buy out the Lim family' s entire stake. Instead, they bought enough to take their stake to 29.73 per cent. By keeping their ownership below 30 per cent, the Tangs avoided having to buy out Chip Eng Seng' s minority shareholders at the same price that the insiders were bought out. So when Chip Eng Seng proposed a rights issue last month that will be sub-underwritten by the Tangs, corporate governance advocates raised concerns that the relatively unattractive rights offering could lead to the Tangs raising their stake to as high as 43.43 per cent of the enlarged issued capital, allowing them to strengthen their control over the property and construction group without paying minority shareholders a dime. The SIC declined to comment on why it is revisiting last year' s married deals now. In July, it greenlighted the Tangs' request to waive their obligation to buy out everyone if their ownership crosses 30 per cent as part of the rights issue. The council' s statement on Tuesday came after BT asked it to explain its rationale for the waiver. Rule 14(6) of the takeover code requires the Tangs to make a takeover offer for Chip Eng Seng if the council judges that the couple have " a significant degree of control" over the voting rights of those insiders who sold them only part of their shares. Corporate governance activists Mak Yuen Teen and Chew Yi Hong had argued in the pages of BT last week that the Tangs do indeed have effective control over the company, which they believe puts the rationale for the rights issue into question. Even if the Tangs keep their ownership below 30 per cent, the code states that " the payment of a very high price for the voting rights would tend to suggest that control over the entire holding (of the sellers) was being secured" , among other things. The Tangs paid the Lims a premium of 26.5 cents (or about 33 per cent) to the average undisturbed price of 81.5 cents for their shares last year, wrote Prof Mak and Mr Chew, which works out to a control premium of about S$49 million. Prof Mak said on Tuesday: " I think the issues of concert parties, partial sales, payment of a high price, independence of directors and corporate actions like the rights issue we saw in Chip Eng Seng need to be scrutinised. It' s good if the SIC is looking at it." When BT approached Chip Eng Seng' s board of directors for comment on Tuesday, independent director Abdul Jabbar said: " As the acquisition of shares is a shareholder issue which does not involve the company and there is an enquiry by the SIC on going, it would not be appropriate for the board of CES (Chip Eng Seng) to comment on this. " From CES' perspective, our corporate strategic growth plans and need for funding remain in place, and, barring any unforeseen developments, we intend to proceed with the rights issue as planned." The SIC follows due process in its enquiries. It cannot halt a company' s corporate actions without the backing of its findings. https://www.businesstimes.com.sg/companies-markets/securities-watchdog-looking-into-billionaire-couples-purchase-of-chip-eng-seng
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Starship Supreme	18-Sep-2019 09:23        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	Finally investigation into the acquisition by the Tangs.    But probably too late for retails who lost big as the SIC continued to fail them yet again. Very disgraceful shannaningans is the SGX Circus Maximus yet again. Securities watchdog looking into billionaire couple' s purchase of Chip Eng Seng shares WED, SEP 18, 2019 - 5:50 AM THE Securities Industries Council (SIC), which administers Singapore' s takeover code, is looking into the circumstances that saw billionaire couple Celine and Gordon Tang emerge as substantial shareholders of Chip Eng Seng in October last year. " The SIC is looking into the acquisition of shares in the company in October 2018 by the relevant parties," the council said on Tuesday in response to queries from The Business Times. " As our enquiry is on-going, we are not able to comment further at this point." The Tangs forked out S$201 million to become Chip Eng Seng' s largest shareholders last October, through married deals with members of Chip Eng Seng' s controlling Lim family that were done at a premium to the market price. However, the Tangs chose not to buy out the Lim family' s entire stake. Instead, they bought enough to take their stake to 29.73 per cent. By keeping their ownership below 30 per cent, the Tangs avoided having to buy out Chip Eng Seng' s minority shareholders at the same price that the insiders were bought out. So when Chip Eng Seng proposed a rights issue last month that will be sub-underwritten by the Tangs, corporate governance advocates raised concerns that the relatively unattractive rights offering could lead to the Tangs raising their stake to as high as 43.43 per cent of the enlarged issued capital, allowing them to strengthen their control over the property and construction group without paying minority shareholders a dime. The SIC declined to comment on why it is revisiting last year' s married deals now. In July, it greenlighted the Tangs' request to waive their obligation to buy out everyone if their ownership crosses 30 per cent as part of the rights issue. The council' s statement on Tuesday came after BT asked it to explain its rationale for the waiver. Rule 14(6) of the takeover code requires the Tangs to make a takeover offer for Chip Eng Seng if the council judges that the couple have " a significant degree of control" over the voting rights of those insiders who sold them only part of their shares. Corporate governance activists Mak Yuen Teen and Chew Yi Hong had argued in the pages of BT last week that the Tangs do indeed have effective control over the company, which they believe puts the rationale for the rights issue into question. Even if the Tangs keep their ownership below 30 per cent, the code states that " the payment of a very high price for the voting rights would tend to suggest that control over the entire holding (of the sellers) was being secured" , among other things. The Tangs paid the Lims a premium of 26.5 cents (or about 33 per cent) to the average undisturbed price of 81.5 cents for their shares last year, wrote Prof Mak and Mr Chew, which works out to a control premium of about S$49 million. Prof Mak said on Tuesday: " I think the issues of concert parties, partial sales, payment of a high price, independence of directors and corporate actions like the rights issue we saw in Chip Eng Seng need to be scrutinised. It' s good if the SIC is looking at it." When BT approached Chip Eng Seng' s board of directors for comment on Tuesday, independent director Abdul Jabbar said: " As the acquisition of shares is a shareholder issue which does not involve the company and there is an enquiry by the SIC on going, it would not be appropriate for the board of CES (Chip Eng Seng) to comment on this. " From CES' perspective, our corporate strategic growth plans and need for funding remain in place, and, barring any unforeseen developments, we intend to proceed with the rights issue as planned." The SIC follows due process in its enquiries. It cannot halt a company' s corporate actions without the backing of its findings. https://www.businesstimes.com.sg/companies-markets/securities-watchdog-looking-into-billionaire-couples-purchase-of-chip-eng-seng
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