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xiaofang_ Member	10-Oct-2014 17:36        xiaofang_ About Contact  Quote this Post!
x 0   x 0  Alert Admin	Think EGM if we all vote against them they may wake up their idea!! That small retailers are not buying their crap.
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xiaofang_ Member	10-Oct-2014 17:30        xiaofang_ About Contact  Quote this Post!
x 0   x 0  Alert Admin	Earlier stages they book $40m for sale of Capitol project only to pay themselves millions per year. The condo projects are slow to launch with poor marketing despite good location and entry prices for them. Greed will kill them. They overprice the pty that' s why can' t sell. Dumb n greedy seems like a hopeless combo for management. Not even a cent pay to shareholders as dividend!  They keep boasting about their family etc but nothing delivered after years but remember they control everything. Totally sick.    jm2212      ( Date: 10-Oct-2014 15:26) Posted: I had " complained" about the mgt drawing huge paid out despite coy is still making losses years ago....  but thing is still the same as they control everything which leave the minority share holders with no choice. Understand the sales for their 2 Condo developments at Bartley road are slow, likely to see losses to continue
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jm2212 Master	10-Oct-2014 15:26        jm2212 About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	I had " complained" about the mgt drawing huge paid out despite coy is still making losses years ago....  but thing is still the same as they control everything which leave the minority share holders with no choice. Understand the sales for their 2 Condo developments at Bartley road are slow, likely to see losses to continue
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unique6 Member	10-Oct-2014 14:48        unique6 About Contact  Quote this Post! Style: Fundamental   Mood: Yells: "Good time no bad stocks. Bad times no good stock? "
x 0   x 0  Alert Admin	I just think Sukmawati is bloody  greedy. It' s a left pocket right pocket so why does she need to milk all the TG minority shareholders. Even if the swap ratio was done a at TG NTA 1.16c or if the Indo company was done at a cheaper and more reasonable price, it would still benefit her. On the profits side, Suryamas is not generating $1-3m which is peanuts compared to the acquisition price of S$153m. It' s like PE of 50-150x. Buying a simple REIT already yields 507% with less development risk. The TG losses are because of the huge salaries. The Widjaja family is divided between the smarter ones and the dumber ones. Golden agri and Frankie did well in the last 10 years, Sukmawati on the other hand has a reputation for incompetence and failed to deliver. Her side of the family has lower intellectual genes, ie the son and daughters all failures in their education and careers (my friend is their family friend), and this is highly likely due to the fact that Sukmawati married her own cousin from the first marriage. Kenneth is the 2nd husband. I mean during the days of European kings and queens of the 13-16th century sure the idea of marrying your blue blooded family might make sense, but genetic science now shows that inter-family marriage breeds bad genes. She should know this. In a way it' s disgusting. Anyway, can write them off.. morons don' t get smarter in time. Go see them at the EGM. They are arrogant. No respect. Born into rich family yet waste opportunities and lazy. Plus arrogant. And pretend to be Christians. No redemption.   dragonn      ( Date: 08-Oct-2014 20:54) Posted: Yeah, this is massive dilution. I am standing on both sides actually. Lets give her some credits as well.   She is injecting her profitable buisness from Suryamas into Top Global. Upon injecting this buisness, she didn' t want to make big losses, therefore diluting the shares of Top Global to benefit her upon successful trade.   The foresight for this injection would be a dilution from 0.0117 NTA to 0.0096 NTA (at the current price of 0.008) it' s 0.004 undervalue before acqusition and  will be  0.002 undervalued as a group after acqusition. (At the same time she ripped off 0.002 by giving herself 30.1% discount, using value of the  traded day as an excuse instead of value of company, to pass  this)   However do take note with her injection our earnings per share would increase from -(0.0465) [-$5,300,000]   to 0.0023 [$700,000] So we' ve have to give her the credit to bring her family buisness into Top Global.   Since we know that after the transaction 0.0096 would be the NTA per share, at the current value of 0.007-0.009 would it still be worth to join her?       xiaofang_      ( Date: 08-Oct-2014 02:36) Posted: Wonder why sgx never query the married deal just ahead of egm??
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dragonn Veteran	10-Oct-2014 08:47        dragonn About Contact  Quote this Post!
x 0   x 0  Alert Admin	All based on approximate values, let me know if ive any part of the calculations wrong dragonn      ( Date: 10-Oct-2014 08:45) Posted: Im neutral for this, taking account into the approximate 7.5mil warrant base nta at 0.0096 after acquisition with 31mil share base it should be approximately 0.007 to 0.008 to after the proposed move, before the acquisition which is the value right now its should be approximately 0.009 to 0.010 counting the group nta at 0.0113. The current price seems already shows the egm will pass even us voting no wont help. But after the proposed acquisition it will give us an eps of 0.002 per annum less 25% from warrant which is approximately 0.0085 to 0.0095 after the acqusition. xiaofang_      ( Date: 10-Oct-2014 02:14) Posted: What abt yourself. You seem more likely to vote yes for the egm...
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dragonn Veteran	10-Oct-2014 08:45        dragonn About Contact  Quote this Post!
x 0   x 0  Alert Admin	Im neutral for this, taking account into the approximate 7.5mil warrant base nta at 0.0096 after acquisition with 31mil share base it should be approximately 0.007 to 0.008 to after the proposed move, before the acquisition which is the value right now its should be approximately 0.009 to 0.010 counting the group nta at 0.0113. The current price seems already shows the egm will pass even us voting no wont help. But after the proposed acquisition it will give us an eps of 0.002 per annum less 25% from warrant which is approximately 0.0085 to 0.0095 after the acqusition. xiaofang_      ( Date: 10-Oct-2014 02:14) Posted: What abt yourself. You seem more likely to vote yes for the egm... dragonn      ( Date: 09-Oct-2014 04:16) Posted: True doesnt make sense, are you getting out any moment at $0.008
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xiaofang_ Member	10-Oct-2014 02:14        xiaofang_ About Contact  Quote this Post!
x 0   x 0  Alert Admin	What abt yourself. You seem more likely to vote yes for the egm... dragonn      ( Date: 09-Oct-2014 04:16) Posted: True doesnt make sense, are you getting out any moment at $0.008? xiaofang_      ( Date: 09-Oct-2014 01:14) Posted: The 300m married deal was done at 0.7c when open market can sell for 0.8c. Likely is for friendly party for votes upcoming egm.. since they can' t vote.. I know I will vote no.. But still .. Likely will go thru. Since most ppl already don' t care. Actually ... they are ripping us the small retailers. Look at their current salary paychecks.. For such a tiny market cap..   Just mother and son (chairman & CEO total salary about $4m)   no voting since they control > 50%. Daughter also in the board. Current market cap 91m. Top 2 management $4m paycheck.. Makes sense to you?  I am only waiting for a chance to get out of this crap.
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xiaofang_ Member	10-Oct-2014 02:11        xiaofang_ About Contact  Quote this Post!
x 0   x 0  Alert Admin	At this moment will not avg down.. See how this indon deal turn out before I decide..  dragonn      ( Date: 09-Oct-2014 04:16) Posted: True doesnt make sense, are you getting out any moment at $0.008? xiaofang_      ( Date: 09-Oct-2014 01:14) Posted: The 300m married deal was done at 0.7c when open market can sell for 0.8c. Likely is for friendly party for votes upcoming egm.. since they can' t vote.. I know I will vote no.. But still .. Likely will go thru. Since most ppl already don' t care. Actually ... they are ripping us the small retailers. Look at their current salary paychecks.. For such a tiny market cap..   Just mother and son (chairman & CEO total salary about $4m)   no voting since they control > 50%. Daughter also in the board. Current market cap 91m. Top 2 management $4m paycheck.. Makes sense to you?  I am only waiting for a chance to get out of this crap.
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dragonn Veteran	09-Oct-2014 04:16        dragonn About Contact  Quote this Post!
x 0   x 0  Alert Admin	True doesnt make sense, are you getting out any moment at $0.008? xiaofang_      ( Date: 09-Oct-2014 01:14) Posted: The 300m married deal was done at 0.7c when open market can sell for 0.8c. Likely is for friendly party for votes upcoming egm.. since they can' t vote.. I know I will vote no.. But still .. Likely will go thru. Since most ppl already don' t care. Actually ... they are ripping us the small retailers. Look at their current salary paychecks.. For such a tiny market cap..   Just mother and son (chairman & CEO total salary about $4m)   no voting since they control > 50%. Daughter also in the board. Current market cap 91m. Top 2 management $4m paycheck.. Makes sense to you?  I am only waiting for a chance to get out of this crap.  dragonn      ( Date: 08-Oct-2014 20:54) Posted: Yeah, this is massive dilution. I am standing on both sides actually. Lets give her some credits as well.   She is injecting her profitable buisness from Suryamas into Top Global. Upon injecting this buisness, she didn' t want to make big losses, therefore diluting the shares of Top Global to benefit her upon successful trade.   The foresight for this injection would be a dilution from 0.0117 NTA to 0.0096 NTA (at the current price of 0.008) it' s 0.004 undervalue before acqusition and  will be  0.002 undervalued as a group after acqusition. (At the same time she ripped off 0.002 by giving herself 30.1% discount, using value of the  traded day as an excuse instead of value of company, to pass  this)   However do take note with her injection our earnings per share would increase from -(0.0465) [-$5,300,000]   to 0.0023 [$700,000] So we' ve have to give her the credit to bring her family buisness into Top Global.   Since we know that after the transaction 0.0096 would be the NTA per share, at the current value of 0.007-0.009 would it still be worth to join her?
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xiaofang_ Member	09-Oct-2014 01:33        xiaofang_ About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hoping for the deal to be off.. If u also have vested interest. Pls vote no. kusje58      ( Date: 20-Sep-2014 22:08) Posted: Sorry, forgot to add something more. Recent trades seems to indicate that there will be some movement as volume is up substantially. I think the shares will move up if the useless deal gets called off. I believe there is substantial value in Topglobal (cash and property inventory) even though the inventory has been unsold for quite some time. As long as property prices don' t crash substantially, we have to remember that NAV is around 1.2 cents (50% above current share price). Hope the deal gets called off soon  or the price gets decreased substantially. Based on the current deal, I don' t think minority shareholders will vote for the deal to pass. As long as there is no hanky panky voting, we should be safe - but with indonesians, who knows.
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xiaofang_ Member	09-Oct-2014 01:14        xiaofang_ About Contact  Quote this Post!
x 0   x 0  Alert Admin	The 300m married deal was done at 0.7c when open market can sell for 0.8c. Likely is for friendly party for votes upcoming egm.. since they can' t vote.. I know I will vote no.. But still .. Likely will go thru. Since most ppl already don' t care. Actually ... they are ripping us the small retailers. Look at their current salary paychecks.. For such a tiny market cap..   Just mother and son (chairman & CEO total salary about $4m)   no voting since they control > 50%. Daughter also in the board. Current market cap 91m. Top 2 management $4m paycheck.. Makes sense to you?  I am only waiting for a chance to get out of this crap.  dragonn      ( Date: 08-Oct-2014 20:54) Posted: Yeah, this is massive dilution. I am standing on both sides actually. Lets give her some credits as well.   She is injecting her profitable buisness from Suryamas into Top Global. Upon injecting this buisness, she didn' t want to make big losses, therefore diluting the shares of Top Global to benefit her upon successful trade.   The foresight for this injection would be a dilution from 0.0117 NTA to 0.0096 NTA (at the current price of 0.008) it' s 0.004 undervalue before acqusition and  will be  0.002 undervalued as a group after acqusition. (At the same time she ripped off 0.002 by giving herself 30.1% discount, using value of the  traded day as an excuse instead of value of company, to pass  this)   However do take note with her injection our earnings per share would increase from -(0.0465) [-$5,300,000]   to 0.0023 [$700,000] So we' ve have to give her the credit to bring her family buisness into Top Global.   Since we know that after the transaction 0.0096 would be the NTA per share, at the current value of 0.007-0.009 would it still be worth to join her?       xiaofang_      ( Date: 08-Oct-2014 02:36) Posted: Wonder why sgx never query the married deal just ahead of egm??
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dragonn Veteran	08-Oct-2014 20:54        dragonn About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yeah, this is massive dilution. I am standing on both sides actually. Lets give her some credits as well.   She is injecting her profitable buisness from Suryamas into Top Global. Upon injecting this buisness, she didn' t want to make big losses, therefore diluting the shares of Top Global to benefit her upon successful trade.   The foresight for this injection would be a dilution from 0.0117 NTA to 0.0096 NTA (at the current price of 0.008) it' s 0.004 undervalue before acqusition and  will be  0.002 undervalued as a group after acqusition. (At the same time she ripped off 0.002 by giving herself 30.1% discount, using value of the  traded day as an excuse instead of value of company, to pass  this)   However do take note with her injection our earnings per share would increase from -(0.0465) [-$5,300,000]   to 0.0023 [$700,000] So we' ve have to give her the credit to bring her family buisness into Top Global.   Since we know that after the transaction 0.0096 would be the NTA per share, at the current value of 0.007-0.009 would it still be worth to join her?       xiaofang_      ( Date: 08-Oct-2014 02:36) Posted: Wonder why sgx never query the married deal just ahead of egm?? xiaofang_      ( Date: 08-Oct-2014 02:34) Posted: Think they did the 300m married deal to friendly parties for up coming egm! dear shareholders, we should all vote No. Is obvious is a ripe off!! 1.Do not agree to the higher valuations they agree to buy the Indonesian investments. 2. They using paying a " lower price" for each top global share. Massive dilute our current holdings. Vote NO!
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xiaofang_ Member	08-Oct-2014 02:36        xiaofang_ About Contact  Quote this Post!
x 0   x 0  Alert Admin	Wonder why sgx never query the married deal just ahead of egm?? xiaofang_      ( Date: 08-Oct-2014 02:34) Posted: Think they did the 300m married deal to friendly parties for up coming egm! dear shareholders, we should all vote No. Is obvious is a ripe off!! 1.Do not agree to the higher valuations they agree to buy the Indonesian investments. 2. They using paying a " lower price" for each top global share. Massive dilute our current holdings. Vote NO!  unique6      ( Date: 16-Sep-2014 10:16) Posted: SGX should query management. The share swap was initially priced at NTA 1.18 cents but Sukmawati revised it down to 0.8c to get more shares. Since she is the one receiving those extra shares, it is basically robbing the public minority shareholders. Sukmawati is so greedy. Karma goes around. Sukmawait will be Sukwa MATI soon.
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xiaofang_ Member	08-Oct-2014 02:34        xiaofang_ About Contact  Quote this Post!
x 0   x 0  Alert Admin	Think they did the 300m married deal to friendly parties for up coming egm! dear shareholders, we should all vote No. Is obvious is a ripe off!! 1.Do not agree to the higher valuations they agree to buy the Indonesian investments. 2. They using paying a " lower price" for each top global share. Massive dilute our current holdings. Vote NO!  unique6      ( Date: 16-Sep-2014 10:16) Posted: SGX should query management. The share swap was initially priced at NTA 1.18 cents but Sukmawati revised it down to 0.8c to get more shares. Since she is the one receiving those extra shares, it is basically robbing the public minority shareholders. Sukmawati is so greedy. Karma goes around. Sukmawait will be Sukwa MATI soon.     dragonn      ( Date: 10-Sep-2014 21:03) Posted: In year 2013 December, they had planned to acqusite Suryamas Dutamakmur http://sbr.com.sg/commercial-property/more-news/tgl-purchase-7152-share-in-pt-suryamas-dutamakmur-tbk-s1529m   Why do they acquisite suryamas dutamakmur tbk? Indonesia is one of the fastest growing countries in the region with a large population base. The Acquisition will allow TGL immediate access to the Indonesian property market and enhance its vision to be a leading property developer in the region. The Acquisition will also provide additional sources of revenue and diversify TGL&rsquo s existing business. The increased economies of scale are also likely to generate improvements in operational efficiency.   http://infopub.sgx.com/FileOpen/TGL_Announcement_Results2Q2014_24July2014.ashx?App=Announcement& FileID=306641 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Profit : 1,463,000 (Which is the equivilent to the profit they had gained in 2011 and 2012 in just half a year)   What to expect in year 2014 December: (Another half year to go)   http://infopub.sgx.com/FileOpen/TGL-%20TTT.ashx?App=Announcement& FileID=309891 FINANCIAL EFFECTS The Sale is expected to result in a net gain of approximately S$351,000 (the " Gain" ) after taking into the account of divestment fee and other estimated related costs. The earnings and net tangible assets of the Company in the current financial year ending 31 December 2014 will be positively affected by the amount of the Gain.     Whats the long term effect for this acquisition of Suryamas Dutamakmur? http://markets.ft.com/research/Markets/Tearsheets/Financials?s=SMDM:JKT
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dragonn Veteran	03-Oct-2014 08:29        dragonn About Contact  Quote this Post!
x 0   x 0  Alert Admin	30.1% discount given to sumawati alone, eps will becomes 0.0023 from approximately (0.004) however estimated groups value per share is 0.0096 from 0.00113 . After the proposed placement of 19,000,000,000 tgl to sumawati. Suryamas belongs to her husband kenneth lian with their daughter (something maeloa) as director. seems like a super big family buisness in indonesia. This placement let sumawati have an even greater controlling power with approximately slightly more than 80% of the tgl shares belonging to sumawati and slightly less than 20% to public from approximately 50%:50%. Sumawati will be paying 152,000,000 for these shares for the company and one page of the circular mentioned about dissolution and liquidation of suryamas which i dont really understand. xiaofang_      ( Date: 02-Oct-2014 22:42) Posted: Shareholders must unite and vote against it!! It' s a ripe off..  dragonn      ( Date: 29-Sep-2014 14:07) Posted: Do you think the shareholders will vote it down?
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xiaofang_ Member	02-Oct-2014 22:42        xiaofang_ About Contact  Quote this Post!
x 0   x 0  Alert Admin	Shareholders must unite and vote against it!! It' s a ripe off..  dragonn      ( Date: 29-Sep-2014 14:07) Posted: Do you think the shareholders will vote it down? kusje58      ( Date: 29-Sep-2014 12:50) Posted: Sucks to hear. Hope it is not true or that it will be voted down by shareholders.
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dragonn Veteran	29-Sep-2014 14:07        dragonn About Contact  Quote this Post!
x 0   x 0  Alert Admin	Do you think the shareholders will vote it down? kusje58      ( Date: 29-Sep-2014 12:50) Posted: Sucks to hear. Hope it is not true or that it will be voted down by shareholders. dragonn      ( Date: 29-Sep-2014 11:10) Posted: I think they are going on with this deal. A recent dispatch today
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kusje58 Member	29-Sep-2014 12:50        kusje58 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Sucks to hear. Hope it is not true or that it will be voted down by shareholders. dragonn      ( Date: 29-Sep-2014 11:10) Posted: I think they are going on with this deal. A recent dispatch today
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dragonn Veteran	29-Sep-2014 11:10        dragonn About Contact  Quote this Post!
x 0   x 0  Alert Admin	I think they are going on with this deal. A recent dispatch today
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dragonn Veteran	24-Sep-2014 12:41        dragonn About Contact  Quote this Post!
x 0   x 0  Alert Admin	So if they call off the deal and top global pays 19,000,000,000 tgl for 3,412,821,351 but 10,000,000,000 tgl for 3,412,821,351 tgl shares would jump up? kusje58      ( Date: 24-Sep-2014 12:25) Posted: Bro, what you say is true but this should not be the case if the seller of those assets is also a substantial owner in TopGlobal. In such cases, the substantial owner usually sells the assets at a discount and certainly not at a high premium like what is happening now. Based on today' s prices, the financials of this deal are as follows: 19,000,000,000 TGL shares for 3,412,821,351 shares in PT Suryamas Dutamakmur Tbk. Topglobal - 19,000,000,000*0.008= SGD 152,000,000 (or SGD 152 mil) PT Suryamas - 3,412,821,351*150IDR = 511,923,202,650 IDR (or 511 BIL IDR) = SGD 54,182,054 (or SGD 54 mil) Why the hell is TopGlobal paying a 200% premium? For SGD 100mil, you can buy a lot of " permits" in Indonesia.
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