Raffles United   

Short Term Profit

THE general offer to privatise mainboard-listed Raffles United is " not fair and not reasonable" , the independent financial adviser (IFA) for the company&rsquo s independent directors said on Friday.

But Raffles United  is  slated to be delisted its free float has already fallen below 10 per cent.
 

In a circular published on Friday, IFA Asian Corporate Advisors advised minority shareholders to reject Ms Teo&rsquo s S$0.065 per share cash offer.

The financial terms of the offer are not fair, the IFA said: &ldquo The offer price is at a steep discount of approximately 71.9 per cent from the group&rsquo s adjusted RNAV (revalued net asset value) and/or RNTA (revalued net tangible asset value) per share.&rdquo

Furthermore, the offer values Raffles United at only 0.3 times NAV, lower than the median of 1.0 times NAV for Singapore stocks that were successfully privatised by way of a general offer since 2017.
 

https://www.businesstimes.com.sg/companies-markets/offer-for-raffles-united-not-fair-and-not-reasonable-ifa

So SGX the new rules can work with this company to help minority share holder???

 

Who would like to subscribe the right at 0.05 same as market price.after right. issue it will bevome 0.025 or .... .

 

In year 2017 and 2018 ,The company enable to make the profit over one million??  but the share price keep droping untill below 10C. Company becomes under SGX Watch list.
The company do not declared any dividend for this 2 years. Now still want to issue rights to collect many from sharehoder? And forget CFO, certain directors of Raffles United Holdings interviewed by CAD.

laksaman57      ( Date: 10-Jan-2019 09:11) Posted: https://www.theedgesingapore.com/raffles-united-proposes-12-mil-rights-issue-another-shareholder-called-cad

 

https://www.theedgesingapore.com/raffles-united-proposes-12-mil-rights-issue-another-shareholder-called-cad

 

Yeap, saw this about the investigation. But seems like the investigations isnt making much progress and doesn&rsquo t really have much effect on the price since the start of the announcement. 

It it has been steady since. The recent announcement of the investigation updates from their investors relations are still showing cooperation and doesn&rsquo t seem to be making any effect. Hmmmm 

 

 

Anyone monitoring this stock recently? 
Stable profits and income statement for the past year. 
Seems like market adjustment causing the flactuation of the price. 

Based on on my technical chartings so far using MACD and Fibonacci, seems like it is starting of a uptrend coming.
  Intending to buy at 0.109 and sell maybe around 0.15 if possible. 

Any feedback?