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nubdonut Member	17-Feb-2020 09:32        nubdonut About Contact  Quote this Post!
x 0   x 0  Alert Admin	Up up and away
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superstartup Supreme	15-Feb-2020 16:12        superstartup About Contact  Quote this Post! Style: Fundamental   Yells: "Enjoy doing Fundamental Research"
x 0   x 0  Alert Admin	Can agree with you.  Maybe my illustration is not clear. End of the day, it depends on the nett gain to GSS at Company Level. My intent is to highlight that the nett gain is added to the Net Asset Value at Company Level, not Group Level. Alvin2042      ( Date: 15-Feb-2020 15:00) Posted: If your operation is profitable and spent so many years to established, u sell it at book value? U will sell it at forward earnings unless this is some hanky panky deal, which as a listed company, will be scrutinised closely by the bourse. superstartup      ( Date: 15-Feb-2020 14:09) Posted: While there is cash return from the subsidiary to GSS arising from the capital reduction exercise, the cash is been off-set against the loan due from GSS to the subsidiary. (The cash amount involved should be around $12.3m based on the capital reduction exercise announcement.)  Quote from the announcement: " ..... the excess capital has been returned to the Company which is used to set-off against the loan due from the Company to GSL. ....  For avoidance of any doubt,  no cash movement is involved  in return of excess capital from GSL to the Company.  .... ' And if you read the latest financial result announcement, GSS has a liability due to subsidiary amounting to $21m. While the Net Asset value at company level, i.e. GSS = 3.95 cent as at 30 Sep 19 I may be wrong, but my assessment is that assuming the subsidiary is been sold at simply book value (Total Equity Basis based on accounting), the remaining GSS will have Net Asset value = 3.95 cent too or just slightly higher. 3.95 cent is the Net Asset Value of GSS at  Company Level  as at 30 Sep 19. You can do some calculations from the 30 Sep 19 financial result announcement financial statements between the Group Level and at the Company Level too, i.e. after selling of the subsidiary, add amount nett gain to GSS (sale price of subsidiary less investment in subsidiary + pay off the amount due to subsidiary). Just sharing my view.
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Whiskey4108 Member	15-Feb-2020 15:16        Whiskey4108 About Contact  Quote this Post!
x 0   x 0  Alert Admin	That's true. But well, the negotiators of the deal is the team compromising of the CFO, GM of GSL,.. Pardon me im a novice but that doesn't seem very impartial. Hopefully there won't be any under the table stuff, be it with the negotiators of the independent valuers. Alvin2042      ( Date: 15-Feb-2020 15:05) Posted: As a personal opinion, this exercise is a prelude to delink GSS from GS, which is a step closer to bring about the deal. Anyway, there are always the independent valuers to give an opinion as to the fair deal or not. So not be too pessimistic.
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Alvin2042 Master	15-Feb-2020 15:05        Alvin2042 About Contact  Quote this Post!
x 0   x 0  Alert Admin	As a personal opinion, this exercise is a prelude to delink GSS from GS, which is a step closer to bring about the deal. Anyway, there are always the independent valuers to give an opinion as to the fair deal or not. So not be too pessimistic.
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Alvin2042 Master	15-Feb-2020 15:00        Alvin2042 About Contact  Quote this Post!
x 0   x 0  Alert Admin	If your operation is profitable and spent so many years to established, u sell it at book value? U will sell it at forward earnings unless this is some hanky panky deal, which as a listed company, will be scrutinised closely by the bourse. superstartup      ( Date: 15-Feb-2020 14:09) Posted: While there is cash return from the subsidiary to GSS arising from the capital reduction exercise, the cash is been off-set against the loan due from GSS to the subsidiary. (The cash amount involved should be around $12.3m based on the capital reduction exercise announcement.)  Quote from the announcement: " ..... the excess capital has been returned to the Company which is used to set-off against the loan due from the Company to GSL. ....  For avoidance of any doubt,  no cash movement is involved  in return of excess capital from GSL to the Company.  .... ' And if you read the latest financial result announcement, GSS has a liability due to subsidiary amounting to $21m. While the Net Asset value at company level, i.e. GSS = 3.95 cent as at 30 Sep 19 I may be wrong, but my assessment is that assuming the subsidiary is been sold at simply book value (Total Equity Basis based on accounting), the remaining GSS will have Net Asset value = 3.95 cent too or just slightly higher. 3.95 cent is the Net Asset Value of GSS at  Company Level  as at 30 Sep 19. You can do some calculations from the 30 Sep 19 financial result announcement financial statements between the Group Level and at the Company Level too, i.e. after selling of the subsidiary, add amount nett gain to GSS (sale price of subsidiary less investment in subsidiary + pay off the amount due to subsidiary). Just sharing my view. Whiskey4108      ( Date: 15-Feb-2020 13:44) Posted: do you mean the price will be negatively affected? i honestly dont know the true intentions and implications of a capital reductio
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superstartup Supreme	15-Feb-2020 14:53        superstartup About Contact  Quote this Post! Style: Fundamental   Yells: "Enjoy doing Fundamental Research"
x 0   x 0  Alert Admin	The final value depends on the sale price for the subsidiary. Hopefully they sell it for a good price, well above book / equity basis. But it is clear that any nett gain arising from the sale of the subsidiary is added to the Net Asset Value at Company Level, not Group Level. My intend is to highlight this. (Just sharing my view. I stand corrected.)   Whiskey4108      ( Date: 15-Feb-2020 14:18) Posted: that doesnt sound very optimistic.. im actually quite confused tho.. dont know what' s the right interpretation superstartup      ( Date: 15-Feb-2020 14:09) Posted: While there is cash return from the subsidiary to GSS arising from the capital reduction exercise, the cash is been off-set against the loan due from GSS to the subsidiary. (The cash amount involved should be around $12.3m based on the capital reduction exercise announcement.)  Quote from the announcement: " ..... the excess capital has been returned to the Company which is used to set-off against the loan due from the Company to GSL. ....  For avoidance of any doubt,  no cash movement is involved  in return of excess capital from GSL to the Company.  .... ' And if you read the latest financial result announcement, GSS has a liability due to subsidiary amounting to $21m. While the Net Asset value at company level, i.e. GSS = 3.95 cent as at 30 Sep 19 I may be wrong, but my assessment is that assuming the subsidiary is been sold at simply book value (Total Equity Basis based on accounting), the remaining GSS will have Net Asset value = 3.95 cent too or just slightly higher. 3.95 cent is the Net Asset Value of GSS at  Company Level  as at 30 Sep 19. You can do some calculations from the 30 Sep 19 financial result announcement financial statements between the Group Level and at the Company Level too, i.e. after selling of the subsidiary, add amount nett gain to GSS (sale price of subsidiary less investment in subsidiary + pay off the amount due to subsidiary). Just sharing my view.
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SgYuan Supreme	15-Feb-2020 14:53        SgYuan About Contact  Quote this Post!
x 0   x 0  Alert Admin	confirm w5 continue ew 95 101 96 w3? w1 6 w3 10 tgt 106 up 161.8% - px hit 108 delta 12 up 200% w4 5 tgt 103 dn 38.2% - px hit 102 over corrected - px cannot break 102 danger - if supported w5 come w5 11 tgt 112 up 61.8% of 18 - projection still off tgt 122 - unless up 100% of 18 tgt 120 SgYuan      ( Date: 14-Feb-2020 09:59) Posted: look like wave b up punching up 106 this mean w5 likely to continue ew 95 101 96 w3? w1 6 w3 10 tgt 106 - now here px hit 105 w4 4 tgt 102 w5 6 tgt 108 - projection still off tgt 122 - see how it flow SgYuan      ( Date: 13-Feb-2020 22:42) Posted: weak w5 - tgt 122 but hit 106 only now in wabc correction - see wb/wc - if wb break up mean w5 up continue - else wc continue
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Whiskey4108 Member	15-Feb-2020 14:18        Whiskey4108 About Contact  Quote this Post!
x 0   x 0  Alert Admin	that doesnt sound very optimistic.. im actually quite confused tho.. dont know what' s the right interpretation superstartup      ( Date: 15-Feb-2020 14:09) Posted: While there is cash return from the subsidiary to GSS arising from the capital reduction exercise, the cash is been off-set against the loan due from GSS to the subsidiary. (The cash amount involved should be around $12.3m based on the capital reduction exercise announcement.)  Quote from the announcement: " ..... the excess capital has been returned to the Company which is used to set-off against the loan due from the Company to GSL. ....  For avoidance of any doubt,  no cash movement is involved  in return of excess capital from GSL to the Company.  .... ' And if you read the latest financial result announcement, GSS has a liability due to subsidiary amounting to $21m. While the Net Asset value at company level, i.e. GSS = 3.95 cent as at 30 Sep 19 I may be wrong, but my assessment is that assuming the subsidiary is been sold at simply book value (Total Equity Basis based on accounting), the remaining GSS will have Net Asset value = 3.95 cent too or just slightly higher. 3.95 cent is the Net Asset Value of GSS at  Company Level  as at 30 Sep 19. You can do some calculations from the 30 Sep 19 financial result announcement financial statements between the Group Level and at the Company Level too, i.e. after selling of the subsidiary, add amount nett gain to GSS (sale price of subsidiary less investment in subsidiary + pay off the amount due to subsidiary). Just sharing my view. Whiskey4108      ( Date: 15-Feb-2020 13:44) Posted: do you mean the price will be negatively affected? i honestly dont know the true intentions and implications of a capital reductio
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superstartup Supreme	15-Feb-2020 14:09        superstartup About Contact  Quote this Post! Style: Fundamental   Yells: "Enjoy doing Fundamental Research"
x 0   x 0  Alert Admin	While there is cash return from the subsidiary to GSS arising from the capital reduction exercise, the cash is been off-set against the loan due from GSS to the subsidiary. (The cash amount involved should be around $12.3m based on the capital reduction exercise announcement.)  Quote from the announcement: " ..... the excess capital has been returned to the Company which is used to set-off against the loan due from the Company to GSL. ....  For avoidance of any doubt,  no cash movement is involved  in return of excess capital from GSL to the Company.  .... ' And if you read the latest financial result announcement, GSS has a liability due to subsidiary amounting to $21m. While the Net Asset value at company level, i.e. GSS = 3.95 cent as at 30 Sep 19 I may be wrong, but my assessment is that assuming the subsidiary is been sold at simply book value (Total Equity Basis based on accounting), the remaining GSS will have Net Asset value = 3.95 cent too or just slightly higher. 3.95 cent is the Net Asset Value of GSS at  Company Level  as at 30 Sep 19. You can do some calculations from the 30 Sep 19 financial result announcement financial statements between the Group Level and at the Company Level too, i.e. after selling of the subsidiary, add amount nett gain to GSS (sale price of subsidiary less investment in subsidiary + pay off the amount due to subsidiary). Just sharing my view. Whiskey4108      ( Date: 15-Feb-2020 13:44) Posted: do you mean the price will be negatively affected? i honestly dont know the true intentions and implications of a capital reduction ysh2006      ( Date: 15-Feb-2020 13:13) Posted: Capital reduction of Giken Sakata and return money to mother what so good ?...Share price will be affected on Monday supposed !!....CEO wants to buy coy cheap
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Whiskey4108 Member	15-Feb-2020 13:44        Whiskey4108 About Contact  Quote this Post!
x 0   x 0  Alert Admin	do you mean the price will be negatively affected? i honestly dont know the true intentions and implications of a capital reduction ysh2006      ( Date: 15-Feb-2020 13:13) Posted: Capital reduction of Giken Sakata and return money to mother what so good ?...Share price will be affected on Monday supposed !!....CEO wants to buy coy cheap ? Whiskey4108      ( Date: 15-Feb-2020 11:59) Posted: GSS did capital reduction exercise for GSL (PE business that CEO wants to buy) to return cash from GSL to GSS main company. What's the purpose? To reduce the worth of the PE business so that the CEO can buy at cheaper price?
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ysh2006 Supreme	15-Feb-2020 13:13        ysh2006 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Capital reduction of Giken Sakata and return money to mother what so good ?...Share price will be affected on Monday supposed !!....CEO wants to buy coy cheap ? Whiskey4108      ( Date: 15-Feb-2020 11:59) Posted: GSS did capital reduction exercise for GSL (PE business that CEO wants to buy) to return cash from GSL to GSS main company. What's the purpose? To reduce the worth of the PE business so that the CEO can buy at cheaper price?
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sengsk Elite	15-Feb-2020 12:54        sengsk About Contact  Quote this Post!
x 0   x 0  Alert Admin	Vested. Trying to observe how this gem move next 2 week. If this stock unable to cross at the price of 0.122 and pull back, I will definitely sell it off immediately. Reason behind, take a look on Nov 2019 till now, There' s a fomation look like a H & S till date. ( Right shoulder on the way ) Which I' m worry any time from now once the pull back appear, this fomation may / will be happen. ( Just personal view only, No encouragement for Buy/Sell )
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Whiskey4108 Member	15-Feb-2020 12:48        Whiskey4108 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Ahhh yea saw this too Justice888      ( Date: 15-Feb-2020 12:31) Posted: I went c balance sheet the cash In bank is equal to the loan. I chk Bec I tot to load up LongNobley      ( Date: 15-Feb-2020 12:04) Posted: It?s a good thing that GSS is a cash rich company. Why would the CEO want to buy the PE business? He wants to start out on his own?
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Justice888 Supreme	15-Feb-2020 12:31        Justice888 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I went c balance sheet the cash In bank is equal to the loan. I chk Bec I tot to load up LongNobley      ( Date: 15-Feb-2020 12:04) Posted: It?s a good thing that GSS is a cash rich company. Why would the CEO want to buy the PE business? He wants to start out on his own? Whiskey4108      ( Date: 15-Feb-2020 11:59) Posted: GSS did capital reduction exercise for GSL (PE business that CEO wants to buy) to return cash from GSL to GSS main company. What's the purpose? To reduce the worth of the PE business so that the CEO can buy at cheaper price?
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Whiskey4108 Member	15-Feb-2020 12:20        Whiskey4108 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Intentions unsure as of now.. Need more information from the company.. On how much the independent valuer says the company is worth, how much CEO is going to offer, what happens next.. LongNobley      ( Date: 15-Feb-2020 12:04) Posted: It?s a good thing that GSS is a cash rich company. Why would the CEO want to buy the PE business? He wants to start out on his own? Whiskey4108      ( Date: 15-Feb-2020 11:59) Posted: GSS did capital reduction exercise for GSL (PE business that CEO wants to buy) to return cash from GSL to GSS main company. What's the purpose? To reduce the worth of the PE business so that the CEO can buy at cheaper price?
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LongNobley Master	15-Feb-2020 12:04        LongNobley About Contact  Quote this Post!
x 0   x 0  Alert Admin	It?s a good thing that GSS is a cash rich company. Why would the CEO want to buy the PE business? He wants to start out on his own? Whiskey4108      ( Date: 15-Feb-2020 11:59) Posted: GSS did capital reduction exercise for GSL (PE business that CEO wants to buy) to return cash from GSL to GSS main company. What's the purpose? To reduce the worth of the PE business so that the CEO can buy at cheaper price?
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Whiskey4108 Member	15-Feb-2020 11:59        Whiskey4108 About Contact  Quote this Post!
x 0   x 0  Alert Admin	GSS did capital reduction exercise for GSL (PE business that CEO wants to buy) to return cash from GSL to GSS main company. What's the purpose? To reduce the worth of the PE business so that the CEO can buy at cheaper price?
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Whiskey4108 Member	14-Feb-2020 21:12        Whiskey4108 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Wah 16 cents a share minimum very huat leh Alvin2042      ( Date: 14-Feb-2020 18:53) Posted: There will not be takeover of GSS, but rather its subsidiary Giken Sakata, the PE business. The ape business has been generating abt $5m net of tax per annum. Based on pe of 16 times, Sydney will have to bid abt $80m for the business, or 16cts per share based on GSS 500m shares. With the recent disposal of 80%stake in O&G business, that mean almost all the net proceeds will be free to use for special dividend or new Ventures (only a little loan). Whiskey4108      ( Date: 14-Feb-2020 15:32) Posted: Despite the uncertainties here, one thing is for sure. The offer price will be higher than 0.098. Director exercised option to purchase shares at 0.098 before CEO released news of intention to buy out the engineering business. Director surely won't purchase 700,000 new shares if he expects to lose money. Maybe can expect offer price to be 20 percent premium of the current price which is about 12 cents at minimum.
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Alvin2042 Master	14-Feb-2020 18:53        Alvin2042 About Contact  Quote this Post!
x 0   x 0  Alert Admin	There will not be takeover of GSS, but rather its subsidiary Giken Sakata, the PE business. The ape business has been generating abt $5m net of tax per annum. Based on pe of 16 times, Sydney will have to bid abt $80m for the business, or 16cts per share based on GSS 500m shares. With the recent disposal of 80%stake in O&G business, that mean almost all the net proceeds will be free to use for special dividend or new Ventures (only a little loan). Whiskey4108      ( Date: 14-Feb-2020 15:32) Posted: Despite the uncertainties here, one thing is for sure. The offer price will be higher than 0.098. Director exercised option to purchase shares at 0.098 before CEO released news of intention to buy out the engineering business. Director surely won't purchase 700,000 new shares if he expects to lose money. Maybe can expect offer price to be 20 percent premium of the current price which is about 12 cents at minimum.
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yamseng Supreme	14-Feb-2020 16:49        yamseng About Contact  Quote this Post!
x 0   x 0  Alert Admin	GSS price is moving in 2 separate upward channel bands...
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