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Ocean Sky could be the next multiplier Post Reply Rate topic
joemacky Senior	06-Apr-2012 00:22        joemacky About Contact  Quote this Post!
x 0   x 0  Alert Admin	- It has abt S$50m cash or S$0.112 cash per share. NAV is abt S$0.206 per share - From the proposed restructuring, controlling shareholder Ang family  wants to buy the garment biz for up to S$63m or S$0.14. To pay for it, they are proposing  capital reduction, which i presume they are returning cash to shareholders (Ang family collectively owns abt 58.6% of the shares). With share capital and retained earnings of abt S$90m, could they be returning cash of as much as S$50m? - From the FY ending 31 Dec 2011 financial results, it generates a net cashflow (before dividends) of abt S$16m or S$0.36 per share on year 2011   66% of its revenue are from US, which consumer consumption is recovering due to an improving labour market, its no wonder the Ang Family wants to buy up the core garment biz - For the china property biz, they are buying for S$310m (the  announcement  stated NAV of RMB3.3b or S$657m i.e. purchase price reflects a discount of   > 50%), by issuing  925,373,134 new shares. The enlarged number of shares post-RTO would be abt 1,373,868,187 or S$0.23 per share for the china pty biz alone - Hence the garment biz of S$0.14 + china property biz of S$0.23 should reflect a price of abt S$0.37. To be conservative, you could further discount the china property biz by 50% i.e. S$0.115, to get a value of abt S$0.25. Either way, teh current price of S$0.173 looks cheap, valuation-wise. Above are just my opinion , not an invitation to invest and   I am vested hence my views could be biased
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pericolly Member	05-Apr-2012 22:35        pericolly About Contact  Quote this Post! Style: Flexible
x 0   x 0  Alert Admin	sifu papa, Just loaded more ocean this afternoon. interested in the news. can share?
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bryancbq Master	05-Apr-2012 22:20        bryancbq About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	thank you! =)) PapaSmurf      ( Date: 05-Apr-2012 21:59) Posted: pm u bryancbq      ( Date: 05-Apr-2012 21:52) Posted: PapaSmurf! Can share with me also?!?! haha. i totally forgotten i am going away this sat for a week. can't monitor the market =(
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PapaSmurf Veteran	05-Apr-2012 21:59        PapaSmurf About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	pm u bryancbq      ( Date: 05-Apr-2012 21:52) Posted: PapaSmurf! Can share with me also?!?! haha. i totally forgotten i am going away this sat for a week. can't monitor the market =( PapaSmurf      ( Date: 05-Apr-2012 20:57) Posted: Gavin You got pm for news on Ocean. Hope you hang on for the reaso
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bryancbq Master	05-Apr-2012 21:52        bryancbq About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	PapaSmurf! Can share with me also?!?! haha. i totally forgotten i am going away this sat for a week. can't monitor the market =( PapaSmurf      ( Date: 05-Apr-2012 20:57) Posted: Gavin You got pm for news on Ocean. Hope you hang on for the reason gavinl      ( Date: 05-Apr-2012 16:37) Posted: XXXXXXXXX again. Reaching 0.17 liao,sign.......
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PapaSmurf Veteran	05-Apr-2012 20:57        PapaSmurf About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	Gavin You got pm for news on Ocean. Hope you hang on for the reason gavinl      ( Date: 05-Apr-2012 16:37) Posted: XXXXXXXXX again. Reaching 0.17 liao,sign.......
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bryancbq Master	05-Apr-2012 17:03        bryancbq About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	holding. i still feel its emotional play. hahahah. maybe i am wrong. the most drop to 0.13. lol
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bryancbq Master	05-Apr-2012 16:58        bryancbq About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	what's wrong with the married deals?! irritating.
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bryancbq Master	05-Apr-2012 16:53        bryancbq About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	hahah. u so funny. mmm. doldoves      ( Date: 05-Apr-2012 16:52) Posted: harooo there.... any Master... sifu.. BBs.....good wise advise????? quick.. got only  8 mins to decide.. bryancbq      ( Date: 05-Apr-2012 16:48) Posted: sian...should hold till monday anot? lol.
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doldoves Member	05-Apr-2012 16:52        doldoves About Contact  Quote this Post!
x 0   x 0  Alert Admin	harooo there.... any Master... sifu.. BBs.....good wise advise????? quick.. got only  8 mins to decide.. bryancbq      ( Date: 05-Apr-2012 16:48) Posted: sian...should hold till monday anot? lol.
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bryancbq Master	05-Apr-2012 16:48        bryancbq About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	sian...should hold till monday anot? lol.
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gavinl Supreme	05-Apr-2012 16:37        gavinl About Contact  Quote this Post!
x 0   x 0  Alert Admin	XXXXXXXXX again. Reaching 0.17 liao,sign.......
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HengLee Member	05-Apr-2012 16:26        HengLee About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	Hahaha so hot in the forum, how not to watch at this. Although it had dipped quite a lot but still no confident. Moreover, i am working, don't have so much time to monitor. Good luck to you on this counter! :) Huat ah! bryancbq      ( Date: 05-Apr-2012 15:10) Posted: oo..haha. good good. at least u earn a sizable bit for that two. I got mdr and jel, but missed hlh also. jel i also sold at 1.7c, sian..haha. if waited one more day could have doubled my profit. but well, should be contented. u watching this counter also ah? a bit hard to tell what the BBs are trying to do. also no confident about where this counter will go. succumbed to emotions when i bought this =/ haha. HengLee      ( Date: 05-Apr-2012 12:03) Posted: Hello! :) I am still observing. Recently clear all my holding on MDR and HLH. Most sad is JEL, didn't manage to catch the ride! Right now still seems a bit shaky, have to take caution.
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bryancbq Master	05-Apr-2012 16:10        bryancbq About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	mmm...are there even the slightest reason for it to go further up? haha.
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gavinl Supreme	05-Apr-2012 15:54        gavinl About Contact  Quote this Post!
x 0   x 0  Alert Admin	Painful bro. Hope my 0.17 trigger loss wont be hit. ls8615      ( Date: 05-Apr-2012 15:52) Posted: I think so. I didn't read carefully and thought it was good for shareholders S$0.335 and hope it will cheong. Checked the 2010 annual report and saw 88.69% of shares held by 23 persons. Their call. I sold at $0.175 today.
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ls8615 Member	05-Apr-2012 15:52        ls8615 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I think so. I didn't read carefully and thought it was good for shareholders S$0.335 and hope it will cheong. Checked the 2010 annual report and saw 88.69% of shares held by 23 persons. Their call. I sold at $0.175 today.
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bryancbq Master	05-Apr-2012 15:46        bryancbq About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	mmm...that means no future for shareholders? ls8615      ( Date: 05-Apr-2012 15:33) Posted: Existing total number of shares =  425,525,361 925,373,134 new shares at S$0.335 is to issue to Sinway Investment (Owner of Chiwayland). As a result Sinway will become the controlling shareholder (reverse takeover). Eventually Oceansky business will be disposed  (to be sold to the existing CEO,SMO and SVP) at much much below NAV. If you look at Chiwayland's website, they do not post new news since July 2011. Not much info can be found. kahlid      ( Date: 05-Apr-2012 15:20) Posted: I read somewhere in the doc that they are issuing new shares at 0.335 per share
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doldoves Member	05-Apr-2012 15:34        doldoves About Contact  Quote this Post!
x 0   x 0  Alert Admin	REALLY!!!!.... for a moment I was much elated      .... a sense of hope..  keep my fingers crossed for now and watching closely. kahlid      ( Date: 05-Apr-2012 15:20) Posted: I read somewhere in the doc that they are issuing new shares at 0.335 per share? ls8615      ( Date: 05-Apr-2012 15:03) Posted: The NAV of the company worth US$71m and to be sold to the 3 controlling shareholders at not more than S$63m (S$0.148/share). The win-win only for Chiwayland and the 3 controlling shareholders. Not sure if I interpret correctly.
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ls8615 Member	05-Apr-2012 15:33        ls8615 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Existing total number of shares =  425,525,361 925,373,134 new shares at S$0.335 is to issue to Sinway Investment (Owner of Chiwayland). As a result Sinway will become the controlling shareholder (reverse takeover). Eventually Oceansky business will be disposed  (to be sold to the existing CEO,SMO and SVP) at much much below NAV. If you look at Chiwayland's website, they do not post new news since July 2011. Not much info can be found. kahlid      ( Date: 05-Apr-2012 15:20) Posted: I read somewhere in the doc that they are issuing new shares at 0.335 per share? ls8615      ( Date: 05-Apr-2012 15:03) Posted: The NAV of the company worth US$71m and to be sold to the 3 controlling shareholders at not more than S$63m (S$0.148/share). The win-win only for Chiwayland and the 3 controlling shareholders. Not sure if I interpret correctly.
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kahlid Member	05-Apr-2012 15:20        kahlid About Contact  Quote this Post! Style: Combined
x 0   x 0  Alert Admin	I read somewhere in the doc that they are issuing new shares at 0.335 per share? ls8615      ( Date: 05-Apr-2012 15:03) Posted: The NAV of the company worth US$71m and to be sold to the 3 controlling shareholders at not more than S$63m (S$0.148/share). The win-win only for Chiwayland and the 3 controlling shareholders. Not sure if I interpret correctly.
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