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ss2017. Supreme	11-Oct-2022 23:16        ss2017. About Contact  Quote this Post!
x 0   x 1  Alert Admin	He has to build good image for his new team. volvo125      ( Date: 11-Oct-2022 23:03) Posted: Toe increased the SBB back to a more encouraging 3m today ... hopefully he can maintain at least this pace ... pasttime      ( Date: 11-Oct-2022 22:54) Posted: share buy back continue. good more value created for shareholders.  buy small small hold long long.
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volvo125 Master	11-Oct-2022 23:03        volvo125 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Toe increased the SBB back to a more encouraging 3m today ... hopefully he can maintain at least this pace ... pasttime      ( Date: 11-Oct-2022 22:54) Posted: share buy back continue. good more value created for shareholders.  buy small small hold long long.
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pasttime Elite	11-Oct-2022 22:54        pasttime About Contact  Quote this Post!   Yells: "peace, love, joy be upon you"
x 0   x 0  Alert Admin	share buy back continue. good more value created for shareholders.  buy small small hold long long.
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volvo125 Master	11-Oct-2022 19:05        volvo125 About Contact  Quote this Post!
x 1   x 0  Alert Admin	I can understand your frustration ... I believe all the Long investors would have varying degree of such sour frustrations when the value of their investments have continue to remain in a steeply depressed state.  Regardless why TR exited shortly and abruptly after YFH spin off and in turn causing this deep selldown mayhem, we probably need to stay objective as to what YFH really is as a Listco. 1)  The DI business is not an ah Long business as YFH has the legitimate licence from the Chinese government to operate. The net interest come is only ~3% per quarter and ~12% pa based on 1.3x collateral coverage at amortised cost and then legitimately reported and audited by E& Y before submission up to the Chinese and SG govts for taxations. Ah Long business will probably charge 10~20% per month with zero collateral at underground with no audited books for govt taxation. 2)  The YFH board (including the advisor) is packed with former Snr Directors from MAS, SGX and GIC who are prominent heavy weights in the finance and investment sectors. These prominent finance and investment figure heads would never want to associate with a coy with even the slightest ah Loong flavour that will tarnish their reputations.. 3)  All the previous and also ongoing appointments and hiring of highly qualified candidates in the investment and finance sectors are likely necessary because YFH is conducting a Investment and Wealth management business. Their target partners are governments and profesional financial institutions and their clients are all HNWI or UHNWI. All these existing and potential stakeholders and clients will want only to deal with highly qualified representives with strong reputations and networks. 4)  YFH is a spin off from YZJ so the 3.95B float is an involuntary given and not a choice. It was unfortunate that TR dumped out 295m shares earlier and Vanguard is highly likely doing so with its 95m since late Sep. Captial flights back to US are very real problems happening now in the world in the face of conttinuing steep rate hikes. Both TR and Vanguard and US angmoh funds. 5)    The insider holdings in YFH and YZJ is similar as YFH was spun off from YZJ. YFH will need to pay dividend to Ren 21% and Lido Point 10% (the employee Trust set up by WangD). Having tabled out all the above objective observations on YFH, it does not mean I am immuned to the current persistent depressive state of my investment in YFH. I guess we all just need to have more patience. I continue to see a deeply discounted gem waiting to regain its value. When Loke took over AEM in ~2014/15, it took ~ 3years+ for the coy to go through very rough and recurring roller coater rides before exploding up in 2017 (AEM 1st explosion was in 2017, then crashed back in 2018 trade war, and 2nd explosion again in late 2019). I rode this first steep AEM roller coaster then for 3year+ so this ~5 month ride with YFH is still a relatively short though unpleasant experience. emailpeter      ( Date: 11-Oct-2022 17:22) Posted: @volvo, thanks for your reply, albeit not enlightening to the (whatever remaining) blind faith I have in this FH. To the least, I made some on SH.  I somehow can' t see the direction of this company. Even in long term. Yes, they did greedily keep 9 yrs of profits, investing in China Ah Long, manifesting into what FH is now. But outside of China, it seems a " wayang kulit" " stageshow" they are projecting to keep our confidence. All these baseless announcements of appointments, lip servicing buttering up each other......We might end up with a huge (huge) payroll and a drop in revenue. Double whammy. Ren has kept the public float far too high, let alone the type of shareholders are not solid holders, they rent out their shares and their clients' shares to be shorted to pits. Good stable listed companies do not possess these kind of vulture shareholders. Look at the madness volume for this small company. Like I said before, Ren doesn' t care 2 hoots about share price. He monitors it 2x per year, or when his golf friends grumble to him. SH has better prospects, it has to pay divs to reward himself, and his 10% employee fund. And he has no more avenue to tuck it away on more Ah Long etc.
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emailpeter Veteran	11-Oct-2022 17:22        emailpeter About Contact  Quote this Post!
x 1   x 0  Alert Admin	@volvo, thanks for your reply, albeit not enlightening to the (whatever remaining) blind faith I have in this FH. To the least, I made some on SH.  I somehow can' t see the direction of this company. Even in long term. Yes, they did greedily keep 9 yrs of profits, investing in China Ah Long, manifesting into what FH is now. But outside of China, it seems a " wayang kulit" " stageshow" they are projecting to keep our confidence. All these baseless announcements of appointments, lip servicing buttering up each other......We might end up with a huge (huge) payroll and a drop in revenue. Double whammy. Ren has kept the public float far too high, let alone the type of shareholders are not solid holders, they rent out their shares and their clients' shares to be shorted to pits. Good stable listed companies do not possess these kind of vulture shareholders. Look at the madness volume for this small company. Like I said before, Ren doesn' t care 2 hoots about share price. He monitors it 2x per year, or when his golf friends grumble to him. SH has better prospects, it has to pay divs to reward himself, and his 10% employee fund. And he has no more avenue to tuck it away on more Ah Long etc.
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volvo125 Master	11-Oct-2022 16:08        volvo125 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Aiyo bro @emailpeter ... don't lose faith and give up just yet lah. YFH is only just a very short ~5mth after its spin off and was unfortuate to meet with a SSH (TRowe) capital flighting off amid this turbulent rate hikes environment. These huge excess zombie shares will be sorted out at some point by the SBB and the matured and maturing DI will progressively find their redeployments to new funds and investments to generate new income streams. FY22 to at least until 1hFY23 is transformation year(s) to recycle the DI in view of the ~25% cash drags. Long investors just need to be patience. emailpeter      ( Date: 11-Oct-2022 13:38) Posted: I certainly share your same sentiment. And thanks also for your deep fundamental analysis. I read every part of that, understand it. Helpful but maybe for us to 'shiok ourselves only'. Inspite of all the haysayers here knocking the naysayers, I now hold 600k shares at a loss. Warranted to make some comments. I feel this stock will never reflect it's fundamental value consistently, if it can even reach half of it. One can see the fundamental reports only shift it by 0.5 or 1c. But the syndicates playing inside this can shift it by 20c or more per week... To me, once a stock is tossed around and cornered by these syndicates, for the last 8 yrs now. they will always have a bad reputation. Akin to Blumont after Soh & team has pumped the shit out of it....Even if Rolex takes over it (if it ever does), the stock is still tossed all over...Think of YZJFH as a casino grade stock. Just play it like a bitcoin. Until they show some good divs, I have no respect for it. Will sell down upon reaching my cost. volvo125      ( Date: 11-Oct-2022 10:10) Posted: Ha ha ... really not sure ... if they are indeed thinking the selling have toned down, then I would unreservedly comment it is a naively induced wrong judgement. After a brief 4 weeks choppy recovery to 0.405 since late Aug, the price was again being forcefully knocked back down to 0.365 till yesterday at deeply persistent and high intensity selling since the last week of Sep. The Sells and Shorts sides are still rampantly strong and vibrant even after 219m shares were taken off the market. It is a very obvious sign that the current supply of shares still very much far outweigh the demand. These are the zoombie shares that are still floating around in huge amount in the market now due to the aftermath of TR295m exit and these huge excess shares are the source that are still powering the Sells and Shorts sides. Under normal circumstances, taking out 219m shares from the market is a very big deal but the picture everyone consistently seeing now is still hopelessly depressive. YFH will therefore need to recognise the emerging scenario that this first 395m max SBB may likely failed due to the exit of TR (and highly likely Vanguard too) and explore the restoration path via the share cancellation option. The correct thing to do in order to make this SBB effective and meaningful is to continue its previously established pace and intensity until these zoombie shares are fully mopped out.  The current $1.46B market cap is not a good reflection and image of an Investment Coy that is worthed $4.226B NAV. How is YFH going to convince its cuurent and potential strategic fund or wealth or family office partners or investors if the coy can' t even manage its own share price well ?
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emailpeter Veteran	11-Oct-2022 13:38        emailpeter About Contact  Quote this Post!
x 1   x 0  Alert Admin	I certainly share your same sentiment. And thanks also for your deep fundamental analysis. I read every part of that, understand it. Helpful but maybe for us to 'shiok ourselves only'. Inspite of all the haysayers here knocking the naysayers, I now hold 600k shares at a loss. Warranted to make some comments. I feel this stock will never reflect it's fundamental value consistently, if it can even reach half of it. One can see the fundamental reports only shift it by 0.5 or 1c. But the syndicates playing inside this can shift it by 20c or more per week... To me, once a stock is tossed around and cornered by these syndicates, for the last 8 yrs now. they will always have a bad reputation. Akin to Blumont after Soh & team has pumped the shit out of it....Even if Rolex takes over it (if it ever does), the stock is still tossed all over...Think of YZJFH as a casino grade stock. Just play it like a bitcoin. Until they show some good divs, I have no respect for it. Will sell down upon reaching my cost. volvo125      ( Date: 11-Oct-2022 10:10) Posted: Ha ha ... really not sure ... if they are indeed thinking the selling have toned down, then I would unreservedly comment it is a naively induced wrong judgement. After a brief 4 weeks choppy recovery to 0.405 since late Aug, the price was again being forcefully knocked back down to 0.365 till yesterday at deeply persistent and high intensity selling since the last week of Sep. The Sells and Shorts sides are still rampantly strong and vibrant even after 219m shares were taken off the market. It is a very obvious sign that the current supply of shares still very much far outweigh the demand. These are the zoombie shares that are still floating around in huge amount in the market now due to the aftermath of TR295m exit and these huge excess shares are the source that are still powering the Sells and Shorts sides. Under normal circumstances, taking out 219m shares from the market is a very big deal but the picture everyone consistently seeing now is still hopelessly depressive. YFH will therefore need to recognise the emerging scenario that this first 395m max SBB may likely failed due to the exit of TR (and highly likely Vanguard too) and explore the restoration path via the share cancellation option. The correct thing to do in order to make this SBB effective and meaningful is to continue its previously established pace and intensity until these zoombie shares are fully mopped out.  The current $1.46B market cap is not a good reflection and image of an Investment Coy that is worthed $4.226B NAV. How is YFH going to convince its cuurent and potential strategic fund or wealth or family office partners or investors if the coy can' t even manage its own share price well ?  HVRRVH      ( Date: 11-Oct-2022 00:09) Posted: It could also be that the management felt tht the sell down wasn' t as ' fierce' as before, and decided to slow down the buy back pace. After all, they have bought back around 5% already and it is best to leave some room for manevoure.
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volvo125 Master	11-Oct-2022 10:10        volvo125 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Ha ha ... really not sure ... if they are indeed thinking the selling have toned down, then I would unreservedly comment it is a naively induced wrong judgement. After a brief 4 weeks choppy recovery to 0.405 since late Aug, the price was again being forcefully knocked back down to 0.365 till yesterday at deeply persistent and high intensity selling since the last week of Sep. The Sells and Shorts sides are still rampantly strong and vibrant even after 219m shares were taken off the market. It is a very obvious sign that the current supply of shares still very much far outweigh the demand. These are the zoombie shares that are still floating around in huge amount in the market now due to the aftermath of TR295m exit and these huge excess shares are the source that are still powering the Sells and Shorts sides. Under normal circumstances, taking out 219m shares from the market is a very big deal but the picture everyone consistently seeing now is still hopelessly depressive. YFH will therefore need to recognise the emerging scenario that this first 395m max SBB may likely failed due to the exit of TR (and highly likely Vanguard too) and explore the restoration path via the share cancellation option. The correct thing to do in order to make this SBB effective and meaningful is to continue its previously established pace and intensity until these zoombie shares are fully mopped out.  The current $1.46B market cap is not a good reflection and image of an Investment Coy that is worthed $4.226B NAV. How is YFH going to convince its cuurent and potential strategic fund or wealth or family office partners or investors if the coy can' t even manage its own share price well ?  HVRRVH      ( Date: 11-Oct-2022 00:09) Posted: It could also be that the management felt tht the sell down wasn' t as ' fierce' as before, and decided to slow down the buy back pace. After all, they have bought back around 5% already and it is best to leave some room for manevoure.  volvo125      ( Date: 10-Oct-2022 19:08) Posted: YFH seems scaling down the SBB volume based on the past one week pattern. This premature slowing down is a bad sign and decision because the amount of zombie shares floating in the market are still in huge excesses due to the TR295m dumping aftermath (possibly also the ongoing Vanguard95m). There is still a very big gap between the 219m SBB so far relative to the 295m TR had dumped, and the excess situation would be far worst if Vanguard indeed flighting its capital out from its 95m in the past 2 weeks too. YFH could very well retest 0.35 very soon and fall below if the previously strong SBB pace is going to pull back prematurely at this juncture. Until such a time when YFH could update encouraging positive progresses on the successful redeployment of its matured DI to the various new investment areas, a strong SBB is the only saving grace to at least support the current depressed share price. Hopefully my sense is wrong and Toe is not slowing down the SBB pace ...
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HVRRVH Elite	11-Oct-2022 00:09        HVRRVH About Contact  Quote this Post!
x 0   x 0  Alert Admin	It could also be that the management felt tht the sell down wasn' t as ' fierce' as before, and decided to slow down the buy back pace. After all, they have bought back around 5% already and it is best to leave some room for manevoure.  volvo125      ( Date: 10-Oct-2022 19:08) Posted: YFH seems scaling down the SBB volume based on the past one week pattern. This premature slowing down is a bad sign and decision because the amount of zombie shares floating in the market are still in huge excesses due to the TR295m dumping aftermath (possibly also the ongoing Vanguard95m). There is still a very big gap between the 219m SBB so far relative to the 295m TR had dumped, and the excess situation would be far worst if Vanguard indeed flighting its capital out from its 95m in the past 2 weeks too. YFH could very well retest 0.35 very soon and fall below if the previously strong SBB pace is going to pull back prematurely at this juncture. Until such a time when YFH could update encouraging positive progresses on the successful redeployment of its matured DI to the various new investment areas, a strong SBB is the only saving grace to at least support the current depressed share price. Hopefully my sense is wrong and Toe is not slowing down the SBB pace ...
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volvo125 Master	10-Oct-2022 19:08        volvo125 About Contact  Quote this Post!
x 1   x 0  Alert Admin	YFH seems scaling down the SBB volume based on the past one week pattern. This premature slowing down is a bad sign and decision because the amount of zombie shares floating in the market are still in huge excesses due to the TR295m dumping aftermath (possibly also the ongoing Vanguard95m). There is still a very big gap between the 219m SBB so far relative to the 295m TR had dumped, and the excess situation would be far worst if Vanguard indeed flighting its capital out from its 95m in the past 2 weeks too. YFH could very well retest 0.35 very soon and fall below if the previously strong SBB pace is going to pull back prematurely at this juncture. Until such a time when YFH could update encouraging positive progresses on the successful redeployment of its matured DI to the various new investment areas, a strong SBB is the only saving grace to at least support the current depressed share price. Hopefully my sense is wrong and Toe is not slowing down the SBB pace ...
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ss2017. Supreme	10-Oct-2022 11:54        ss2017. About Contact  Quote this Post!
x 0   x 1  Alert Admin	Likely they have some form of business collaboration in Asia region. aragosta      ( Date: 10-Oct-2022 11:51) Posted: --- Post Removed by User ---
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unclebond Master	10-Oct-2022 08:41        unclebond About Contact  Quote this Post!
x 0   x 0  Alert Admin	MEDIA RELEASE&ndash FOR IMMEDIATE RELEASE Yangzijiang Financial Appoints Ex-GIC Vice President to Head the Group' s Investments in External Funds ● Miss Wu Menglin will join the Group as its new Head of Fund of Funds, with effect from October 10, 2022 ● Miss Wu was formerly Vice President, Private Equity Funds and Co-Investments at GIC Private Limited, where she managed fund investments and co-investments in Asia
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GoldenPig Veteran	09-Oct-2022 02:13        GoldenPig About Contact  Quote this Post!
x 0   x 1  Alert Admin	Thanks very much for the analysis and comparison. I think the Squirrel' s Drey used the price to NAV of GIL to estimate fair market value for the non-DI portion of YJZFH. Have wondered how the 2 companies compare against each other. Actually I have some substantial holdings in GIL. Legacy of my earlier mistakes in investing. Have retained it as its DRP is growing my holdings without additional capital. And thereby recouping my capital loss. It will be another retirement income stream if I need the cash from it.  Investors in GIL likely view it as a proxy to high yield fixed deposits.   volvo125      ( Date: 09-Oct-2022 00:18) Posted: I do not follow GIL so I could only give a relatively shallow comment after taking a quick look on the coy price volume history/actions and fundamentals. Interestingly, GIL and YFH do share some similarities in many areas. Both are in some forms of Investments and loans businesses but their focus are very different in nature. GIL seems to hold publicly listed equities from various stock exchanges in US, UK, Europe, China, HK, Aust, SG and over a very diversified sectors covering FMCG, IT, Energy, Financial, Industrial, Comm ... (23% of Portfolio), loans securatisation convertibles mainly in Europe (61% of Portfolio), and publicly traded bonds (15% of Portfolio)  YFH portfolio was 100% in China previously but will target to split ~50:50 between China and Offshore (SG and beyond) from FY22 onwards. YFH focus its collateral backed DI at amortised costs only in China and more specifically in the Jiangsu province mainly, and the remaining investments in China come from private equities and co-investment on funds with strategic partners. The newly target offshore 50% will be deployed on establishing new funds (marine, ESG ...), wealth management, family offices and some forms of mezzanine finacing.  Both are Net Cash with negligible S/T debt => > Debt Free. Both are doing almost daily non stop SBB. GIL started the almost daily SBB since Jan 2019. GIL NAV is only $272mil while YFH NAV is $4.226B, 16x of GIL. GIL is a very small Investment outfit. GIL incurred a 1H22 net loss $27m or 9.8% ROE loss while YFH registered a 1H22 net gain $137m or 3.2% ROE gain.  GIL average trading volume is 450K while YFH average trading volume is 29m. GIL has very little liquidity after accounting for the SBB. GIL seems a " dead" stock with little investor interest. GIL DPS was paying dividend at 85% NPAT in FY20 and FY21 but nothing was declared in 1H22 due to net losses. Since only ~15% was ploughed back into coy for working capital, capex and reinvestment, there is very little growth potential in NAV going forward for GIL. YFH targets to pay dividend at 40% NPAT.with 60% being ploughed back into the business so YFH will have very high capital appreciation potential due to an ever enlarging NAV investment pool that will also lead to higher YOY DPS going forward.  GIL was trading at ~89% of NAV but down to now ~75% NAV due to the 1H22 net losses, in spite of the past ~3 years of near non stop daily SBB. YFH is trading at just 35% NAV due to the unfortunate TR huge dumping impact (and possibly Vanguard too) in spite of the past ~2 months near non stop daily SBB.  I would not touch GIL due to 1) $272m too small an investment outfit, 2) very little liquidity after deducting the coy daily SBB, 3) little forward capital appreciation and increasing DPS payout potential   My very brief reading on GIL after a quick scan through on the SGX records and financial statements .... hope it helps. GoldenPig      ( Date: 08-Oct-2022 17:04) Posted: @volvo125, thanks very much for your summary analysis of OUE. Always enlightening to read your comments. Could I trouble you to analyse/comment on Global Investment Ltd? When you have the time of course.
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volvo125 Master	09-Oct-2022 00:18        volvo125 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I do not follow GIL so I could only give a relatively shallow comment after taking a quick look on the coy price volume history/actions and fundamentals. Interestingly, GIL and YFH do share some similarities in many areas. Both are in some forms of Investments and loans businesses but their focus are very different in nature. GIL seems to hold publicly listed equities from various stock exchanges in US, UK, Europe, China, HK, Aust, SG and over a very diversified sectors covering FMCG, IT, Energy, Financial, Industrial, Comm ... (23% of Portfolio), loans securatisation convertibles mainly in Europe (61% of Portfolio), and publicly traded bonds (15% of Portfolio)  YFH portfolio was 100% in China previously but will target to split ~50:50 between China and Offshore (SG and beyond) from FY22 onwards. YFH focus its collateral backed DI at amortised costs only in China and more specifically in the Jiangsu province mainly, and the remaining investments in China come from private equities and co-investment on funds with strategic partners. The newly target offshore 50% will be deployed on establishing new funds (marine, ESG ...), wealth management, family offices and some forms of mezzanine finacing.  Both are Net Cash with negligible S/T debt => > Debt Free. Both are doing almost daily non stop SBB. GIL started the almost daily SBB since Jan 2019. GIL NAV is only $272mil while YFH NAV is $4.226B, 16x of GIL. GIL is a very small Investment outfit. GIL incurred a 1H22 net loss $27m or 9.8% ROE loss while YFH registered a 1H22 net gain $137m or 3.2% ROE gain.  GIL average trading volume is 450K while YFH average trading volume is 29m. GIL has very little liquidity after accounting for the SBB. GIL seems a " dead" stock with little investor interest. GIL DPS was paying dividend at 85% NPAT in FY20 and FY21 but nothing was declared in 1H22 due to net losses. Since only ~15% was ploughed back into coy for working capital, capex and reinvestment, there is very little growth potential in NAV going forward for GIL. YFH targets to pay dividend at 40% NPAT.with 60% being ploughed back into the business so YFH will have very high capital appreciation potential due to an ever enlarging NAV investment pool that will also lead to higher YOY DPS going forward.  GIL was trading at ~89% of NAV but down to now ~75% NAV due to the 1H22 net losses, in spite of the past ~3 years of near non stop daily SBB. YFH is trading at just 35% NAV due to the unfortunate TR huge dumping impact (and possibly Vanguard too) in spite of the past ~2 months near non stop daily SBB.  I would not touch GIL due to 1) $272m too small an investment outfit, 2) very little liquidity after deducting the coy daily SBB, 3) little forward capital appreciation and increasing DPS payout potential   My very brief reading on GIL after a quick scan through on the SGX records and financial statements .... hope it helps. GoldenPig      ( Date: 08-Oct-2022 17:04) Posted: @volvo125, thanks very much for your summary analysis of OUE. Always enlightening to read your comments. Could I trouble you to analyse/comment on Global Investment Ltd? When you have the time of course.
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GoldenPig Veteran	08-Oct-2022 17:04        GoldenPig About Contact  Quote this Post!
x 0   x 1  Alert Admin	@volvo125, thanks very much for your summary analysis of OUE. Always enlightening to read your comments. Could I trouble you to analyse/comment on Global Investment Ltd? When you have the time of course.
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HVRRVH Elite	08-Oct-2022 15:49        HVRRVH About Contact  Quote this Post!
x 0   x 0  Alert Admin	@Volvo125 Thanks! The forum could really do with investors such as your goodself, who provide rationals for analysis and assessments so that we can make our own assessments further. It' s far better than some postings especially in a particular thread, that even in one sentence can somehow ' advise' people to buy/sell/hold with generic ' war cry' .  Now we shall wait and see what YZJF will do when 10% buyback limit is met. Look like canceling is a more viable option unless a party/ies can be found to buy the shares in block.
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soeteono Senior	08-Oct-2022 15:44        soeteono About Contact  Quote this Post!
x 0   x 0  Alert Admin	Good analysis , thanks volvo125 . volvo125      ( Date: 08-Oct-2022 15:22) Posted: OUE case is very similar to YFH case with near non stop SBB since Mar 2020 ( > 2yr liao if you check their SGX records ) yet price is still trading at ~29% NAV. They have somehow exceeded the SGX 10% limit (Treasury shares was 11.6% of float ... not sure how come they could violated the limit ... probably administratively overlook ... ) so I believe in order to restore the SBB to continue to support the price, cancellation was the only option. OUE treasury shares now stands at 0.44% of the float after the cancellation exercise and they can continue to SBB 10% of the new float going forward.. I have earlier highighted the concern in YFH that the current SBB (balance 177m) may not likely sort out all the excess shares floating floating in the market due to the TR (295m) dumping and possibly also the seemingly ongoing exit of Vanguard (95m) in the past 2 weeks. So like OUE, share cancellation may likely be the only option in due course to restore the SBB to continue to support the price. Now, while the two cases in terms of trading at deeply discounted prices, regular to near non stop SBB, and hitting the treasury 10% limit (YFH hitting this 10% limit is a high probability event in my assessment ), these 2 coy are very different animals. The main key differences ( there are a lot more ... of course ):- YFH is 1) Net Cash with negligible short term debts to facilitate the running of day to day operations. 2) ultra cash rich  3) steady ROE at 8%, ROE FY21 at 5.2% due to Business transformation from DI to new Fund/Wealth Mgt businesses. 4) est DPS $0.022 and will boost up to $0.0245 at SBB395m max fully implemented, or 5.9% to 6.5% at current price ( very depressed at 35% NAV). OUE has 1) ~$3.2B of debts (LT+ST) against $3.8B shareholder equity. The D/E is 84% and consider very high. The prevailing high interest and increasing rate hikes will hammer the coy very hard.  2) the coy has $445m hard Cash for working capital, capex and also conducting the regular daily SBB. But this hard Cash are " borrowed hard cash" drawn from the high debts. 3) at EPS 0.093, the ROE is only 2.1% against the $4.38 NAV. 4) DPS is $0.02 or 1.5% at current price (very depressed at 29% NAV) YFH is definitely a far much better coy to invest on in terms of financial risk exposure, required rate of return expectation and dividend payout. OUE share prices will likely stay depressed for a very long time due to the high D/E ratio, low ROE and low DPS. YFH share prices will highly likely reecover back to a more reasonable level after the huge amount of excess zombie shares ( TR, and possibly Vanguard now) are fully mopped up by the SBB. These are my readings on the 2 coys.  HVRRVH      ( Date: 08-Oct-2022 13:30) Posted: *typo. It' s OUE.
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volvo125 Master	08-Oct-2022 15:22        volvo125 About Contact  Quote this Post!
x 2   x 0  Alert Admin	OUE case is very similar to YFH case with near non stop SBB since Mar 2020 ( > 2yr liao if you check their SGX records ) yet price is still trading at ~29% NAV. They have somehow exceeded the SGX 10% limit (Treasury shares was 11.6% of float ... not sure how come they could violated the limit ... probably administratively overlook ... ) so I believe in order to restore the SBB to continue to support the price, cancellation was the only option. OUE treasury shares now stands at 0.44% of the float after the cancellation exercise and they can continue to SBB 10% of the new float going forward.. I have earlier highighted the concern in YFH that the current SBB (balance 177m) may not likely sort out all the excess shares floating floating in the market due to the TR (295m) dumping and possibly also the seemingly ongoing exit of Vanguard (95m) in the past 2 weeks. So like OUE, share cancellation may likely be the only option in due course to restore the SBB to continue to support the price. Now, while the two cases in terms of trading at deeply discounted prices, regular to near non stop SBB, and hitting the treasury 10% limit (YFH hitting this 10% limit is a high probability event in my assessment ), these 2 coy are very different animals. The main key differences ( there are a lot more ... of course ):- YFH is 1) Net Cash with negligible short term debts to facilitate the running of day to day operations. 2) ultra cash rich  3) steady ROE at 8%, ROE FY21 at 5.2% due to Business transformation from DI to new Fund/Wealth Mgt businesses. 4) est DPS $0.022 and will boost up to $0.0245 at SBB395m max fully implemented, or 5.9% to 6.5% at current price ( very depressed at 35% NAV). OUE has 1) ~$3.2B of debts (LT+ST) against $3.8B shareholder equity. The D/E is 84% and consider very high. The prevailing high interest and increasing rate hikes will hammer the coy very hard.  2) the coy has $445m hard Cash for working capital, capex and also conducting the regular daily SBB. But this hard Cash are " borrowed hard cash" drawn from the high debts. 3) at EPS 0.093, the ROE is only 2.1% against the $4.38 NAV. 4) DPS is $0.02 or 1.5% at current price (very depressed at 29% NAV) YFH is definitely a far much better coy to invest on in terms of financial risk exposure, required rate of return expectation and dividend payout. OUE share prices will likely stay depressed for a very long time due to the high D/E ratio, low ROE and low DPS. YFH share prices will highly likely reecover back to a more reasonable level after the huge amount of excess zombie shares ( TR, and possibly Vanguard now) are fully mopped up by the SBB. These are my readings on the 2 coys.  HVRRVH      ( Date: 08-Oct-2022 13:30) Posted: *typo. It' s OUE.  HVRRVH      ( Date: 08-Oct-2022 13:29) Posted: Recently UOB cancelled about 100m treasury share. Don' t know what prompted the decision but it should increse its NAV and EPS
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HVRRVH Elite	08-Oct-2022 13:30        HVRRVH About Contact  Quote this Post!
x 0   x 0  Alert Admin	*typo. It' s OUE.  HVRRVH      ( Date: 08-Oct-2022 13:29) Posted: Recently UOB cancelled about 100m treasury share. Don' t know what prompted the decision but it should increse its NAV and EPS? pasttime      ( Date: 01-Oct-2022 18:07) Posted: volvo125, greetings. good thinking and write up. if the buy back shares do get cancelled out it will also meant the dividend pay out to remaining shares is higher for the same earning and same 40% payout. have a good week end.
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HVRRVH Elite	08-Oct-2022 13:29        HVRRVH About Contact  Quote this Post!
x 0   x 0  Alert Admin	Recently UOB cancelled about 100m treasury share. Don' t know what prompted the decision but it should increse its NAV and EPS? pasttime      ( Date: 01-Oct-2022 18:07) Posted: volvo125, greetings. good thinking and write up. if the buy back shares do get cancelled out it will also meant the dividend pay out to remaining shares is higher for the same earning and same 40% payout. have a good week end.
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