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i' m puzzled, the report says tat hong will boost stake to 71%, so they will buy, not sell?
MichaelSchenker ( Date: 17-Nov-2017 16:33) Posted:
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I m also not sure about this, apparently I have a change of heart.
Gut-feel that the deal will firm up soon. 50 cents is the &ldquo offered&rdquo price by StanChart. Tat Hong did not accept the offer yet. So, of course, by hope, there is still a chance for the price to be raised. (Just hoping only). I m betting on this at 46 cents.
And I m also aware that if no deal, price may drop back to below 40, so have to trade with caution.
Gut-feel that the deal will firm up soon. 50 cents is the &ldquo offered&rdquo price by StanChart. Tat Hong did not accept the offer yet. So, of course, by hope, there is still a chance for the price to be raised. (Just hoping only). I m betting on this at 46 cents.
And I m also aware that if no deal, price may drop back to below 40, so have to trade with caution.
MichaelSchenker ( Date: 14-Nov-2017 13:11) Posted:
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The carrot is at 50 cents.
Currently selling 47 cents.
Is it worth the wait (for about 6 months) to earn the 3 cents?
I will not bite.
Currently selling 47 cents.
Is it worth the wait (for about 6 months) to earn the 3 cents?
I will not bite.
StanChart Unit Offers to Buy Stake in Singapore Crane Firm
http://www.msn.com/en-sg/money/companies/stanchart-unit-offers-to-buy-stake-in-singapore-crane-firm/ar-BBELOGA?li=AAaYtuN& ocid=ientp
(Bloomberg) -- Standard Chartered Plc&rsquo s loss-making private equity unit is planning an investment in a Singaporean crane firm, signaling it&rsquo s still open to deals even as the business shrinks.
Standard Chartered Private Equity, or SCPE, has proposed to buy shares of publicly listed Tat Hong Holdings Ltd., the Singapore-based company said Friday in a filing to the local stock exchange. The London-based bank&rsquo s buyout unit has offered to pay 50 Singapore cents ($0.37) a share, subject to conditions, Tat Hong said in the statement, without specifying the number of shares involved. That&rsquo s 28 percent higher than the year-to-date average price of the firm, which has a market value of S$347 million.
The potential investment shows Standard Chartered is still trying to make money from the high-risk, high-return business of private equity, even after Chief Executive Officer Bill Winters moved to wind down the SCPE unit last year. The division has lost more than $1 billion since 2015 as deals went awry across emerging markets, hampering the CEO&rsquo s efforts to overhaul the bank.
Standard Chartered in London declined to comment. Early Friday, Tat Hong requested a trading halt in its shares on the Singapore exchange. SCPE&rsquo s proposal is subject to conditions including an agreement of terms on a definitive partnership and binding debt financing, and final approval by its investment committee, Tat Hong said in a statement.
Tat Hong isn&rsquo t involved in the discussions relating to the definitive partnership terms, it said Friday.
Executives at SCPE decided late last month to move ahead with the proposal known as Project Titan, people familiar with the discussions said. Tat Hong&rsquo s current controlling shareholders, Chwee Cheng & Sons Pte and related parties, who own more than half of the company, would boost their stake to 71 percent while Standard Chartered Private Equity would get a 29 percent, the people said, declining to be identified as the talks are private.
Tat Hong, which began in Singapore in 1957 before expanding across Asia, has struggled with a decline in economic growth in China and a slump in commodity prices, reports show. The company&rsquo s revenue has tumbled and the company has posted S$77 million of combined losses for the past two financial years, according to the reports. The shares are down about 66 percent since 2013.
SCPE executives have had rough years of their own after spending billions of dollars of Standard Chartered funds on stakes in high-risk companies across the Middle East, Africa and Asia that then lost value. Winters ousted the head of the business, Joe Stevens, late last year and the bank announced that it would begin exiting its investments.
The Standard Chartered division that houses SCPE, known as Principal Finance, was largely responsible for a $68 million &ldquo restructuring&rdquo expense in the third quarter of 2017, bringing total costs from the division this year to about $147 million, statements from the London-based bank show. That adds to combined losses of $950 million for 2015 and 2016.
Standard Chartered stopped classifying Principal Finance as an ongoing business after Winters&rsquo decision to pull back, reports show.
&ldquo We&rsquo re now going to be very careful about managing the exit process,&rdquo Finance Director Andy Halford told reporters Feb. 24. &ldquo We decided in the latter part of 2016 that this is probably not a business that&rsquo s for us.&rdquo
Private Equity International reported on Nov. 6 the bank retained Credit Suisse Group AG to advise on a spin out of the business.
Still, SCPE has continued to strike deals since Winters&rsquo decision. The unit pushed ahead with plans to invest $100 million in a Vietnamese play-center operator and an Indian finance firm, Bloomberg reported last November. Months later, the unit headed a consortium that took a majority stake in Shanghai Siyanli, a Chinese beauty care company, according to a statement at the time. In March, SCPE&rsquo s real estate unit led a $44 million investment in a site in Seoul.
(Updates with Tat Hong confirming StanChart&rsquo s offer from first paragraph.)
To contact the reporters on this story: Donal Griffin in London at [email protected], Chanyaporn Chanjaroen in Singapore at [email protected].
To contact the editors responsible for this story: Ambereen Choudhury at [email protected], Jon Menon
© 2017 Bloomberg L.P.
http://www.msn.com/en-sg/money/companies/stanchart-unit-offers-to-buy-stake-in-singapore-crane-firm/ar-BBELOGA?li=AAaYtuN& ocid=ientp
(Bloomberg) -- Standard Chartered Plc&rsquo s loss-making private equity unit is planning an investment in a Singaporean crane firm, signaling it&rsquo s still open to deals even as the business shrinks.
Standard Chartered Private Equity, or SCPE, has proposed to buy shares of publicly listed Tat Hong Holdings Ltd., the Singapore-based company said Friday in a filing to the local stock exchange. The London-based bank&rsquo s buyout unit has offered to pay 50 Singapore cents ($0.37) a share, subject to conditions, Tat Hong said in the statement, without specifying the number of shares involved. That&rsquo s 28 percent higher than the year-to-date average price of the firm, which has a market value of S$347 million.
The potential investment shows Standard Chartered is still trying to make money from the high-risk, high-return business of private equity, even after Chief Executive Officer Bill Winters moved to wind down the SCPE unit last year. The division has lost more than $1 billion since 2015 as deals went awry across emerging markets, hampering the CEO&rsquo s efforts to overhaul the bank.
Standard Chartered in London declined to comment. Early Friday, Tat Hong requested a trading halt in its shares on the Singapore exchange. SCPE&rsquo s proposal is subject to conditions including an agreement of terms on a definitive partnership and binding debt financing, and final approval by its investment committee, Tat Hong said in a statement.
Tat Hong isn&rsquo t involved in the discussions relating to the definitive partnership terms, it said Friday.
Project Titan
Executives at SCPE decided late last month to move ahead with the proposal known as Project Titan, people familiar with the discussions said. Tat Hong&rsquo s current controlling shareholders, Chwee Cheng & Sons Pte and related parties, who own more than half of the company, would boost their stake to 71 percent while Standard Chartered Private Equity would get a 29 percent, the people said, declining to be identified as the talks are private.
Tat Hong, which began in Singapore in 1957 before expanding across Asia, has struggled with a decline in economic growth in China and a slump in commodity prices, reports show. The company&rsquo s revenue has tumbled and the company has posted S$77 million of combined losses for the past two financial years, according to the reports. The shares are down about 66 percent since 2013.
SCPE executives have had rough years of their own after spending billions of dollars of Standard Chartered funds on stakes in high-risk companies across the Middle East, Africa and Asia that then lost value. Winters ousted the head of the business, Joe Stevens, late last year and the bank announced that it would begin exiting its investments.
Mounting Costs
The Standard Chartered division that houses SCPE, known as Principal Finance, was largely responsible for a $68 million &ldquo restructuring&rdquo expense in the third quarter of 2017, bringing total costs from the division this year to about $147 million, statements from the London-based bank show. That adds to combined losses of $950 million for 2015 and 2016.
Standard Chartered stopped classifying Principal Finance as an ongoing business after Winters&rsquo decision to pull back, reports show.
&ldquo We&rsquo re now going to be very careful about managing the exit process,&rdquo Finance Director Andy Halford told reporters Feb. 24. &ldquo We decided in the latter part of 2016 that this is probably not a business that&rsquo s for us.&rdquo
Private Equity International reported on Nov. 6 the bank retained Credit Suisse Group AG to advise on a spin out of the business.
Still, SCPE has continued to strike deals since Winters&rsquo decision. The unit pushed ahead with plans to invest $100 million in a Vietnamese play-center operator and an Indian finance firm, Bloomberg reported last November. Months later, the unit headed a consortium that took a majority stake in Shanghai Siyanli, a Chinese beauty care company, according to a statement at the time. In March, SCPE&rsquo s real estate unit led a $44 million investment in a site in Seoul.
(Updates with Tat Hong confirming StanChart&rsquo s offer from first paragraph.)
To contact the reporters on this story: Donal Griffin in London at [email protected], Chanyaporn Chanjaroen in Singapore at [email protected].
To contact the editors responsible for this story: Ambereen Choudhury at [email protected], Jon Menon
© 2017 Bloomberg L.P.
Agreed, nothing is firm until deal has been signed.
Lesson from a recent past, M1&rsquo s scuppered &ldquo strategic review&rdquo ended with no buyers.
ok, at least Tat Hong has named the interested party (StandChartPE) and the price 50 cents, which means the deal seems real and deal should be in progress.
The uncertainly will be worth a premium which will be the re-opening price and 50 cents.
Lesson from a recent past, M1&rsquo s scuppered &ldquo strategic review&rdquo ended with no buyers.
ok, at least Tat Hong has named the interested party (StandChartPE) and the price 50 cents, which means the deal seems real and deal should be in progress.
The uncertainly will be worth a premium which will be the re-opening price and 50 cents.
tonylim70 ( Date: 10-Nov-2017 14:54) Posted:
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As previously announced by the Company on 21 September 2017 and 21 October 2017 respectively (the &ldquo Previous Announcements&rdquo ), the Company had been approached by certain parties in connection with a potential transaction in relation to the securities of the Company. In this regard, the Company has received a non-binding letter from Standard Chartered Private Equity (Singapore) Pte. Ltd. (&ldquo SCPE&rdquo ) confirming its proposal to acquire the shares of the Company at an offer price of S$0.50 per share, subject to various conditions, including:
(i) obtaining all necessary rulings and confirmations from the Securities Industry Council
(ii) agreement of definitive partnership terms, including binding debt financing terms, with the existing management team and founding family members and
(iii) final approval by the investment committee of SCPE of such terms.
The letter from SCPE states that it does not constitute a firm intention to make an offer by SCPE for any shares in the Company and should not be construed as creating any legally binding obligations on SCPE.
The Company wishes to highlight to its shareholders that it is not involved in the discussions relating to the definitive partnership terms. Shareholders should also note that there is no certainty or assurance that any transaction will arise from the proposal by SCPE or otherwise.
1) Acquire shares does not mean takeover offer , it may mean they acquire 10% or 20% of the company shares from the owner or newly issued shares. Does not necessary mean they launching a takeover bid from minor shareholders
2) This is NOT a firm intention (Refer to addvalue tech, many informal offer too, in the end nothing concrete)
3) BAsically this is just the 3rd party annoucing their " INTENTION" .. Look at Addvalue tech, 3rd party annouce their " INTENTION" and nothing concluded.
(i) obtaining all necessary rulings and confirmations from the Securities Industry Council
(ii) agreement of definitive partnership terms, including binding debt financing terms, with the existing management team and founding family members and
(iii) final approval by the investment committee of SCPE of such terms.
The letter from SCPE states that it does not constitute a firm intention to make an offer by SCPE for any shares in the Company and should not be construed as creating any legally binding obligations on SCPE.
The Company wishes to highlight to its shareholders that it is not involved in the discussions relating to the definitive partnership terms. Shareholders should also note that there is no certainty or assurance that any transaction will arise from the proposal by SCPE or otherwise.
1) Acquire shares does not mean takeover offer , it may mean they acquire 10% or 20% of the company shares from the owner or newly issued shares. Does not necessary mean they launching a takeover bid from minor shareholders
2) This is NOT a firm intention (Refer to addvalue tech, many informal offer too, in the end nothing concrete)
3) BAsically this is just the 3rd party annoucing their " INTENTION" .. Look at Addvalue tech, 3rd party annouce their " INTENTION" and nothing concluded.
MichaelSchenker ( Date: 10-Nov-2017 14:28) Posted:
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Congrats all Bros who are still holding.
Strike price 50 cents.
Those who who bought recently should profit.
Strike price 50 cents.
Those who who bought recently should profit.
stock83sg ( Date: 10-Nov-2017 09:07) Posted:
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Update Announcement
The board of directors (the " Board" ) of Tat Hong Holdings Ltd (the " Company" ) refers to the article published by Bloomberg on 9 November 2017 entitled " StanChart Buyout Arm is Said to Plan Singapore Crane Firm Stake" .
As previously announced by the Company on 21 September 2017 and 21 October 2017 respectively (the " Previous Announcements" ), the Company had been approached by certain parties in connection with a potential transaction in relation to the securities of the Company. In this regard, the Company has received a non-binding letter from Standard Chartered Private Equity (Singapore) Pte. Ltd. (" SCPE" ) confirming its proposal to acquire the shares of the Company at an offer price of S$0.50 per share, subject to various conditions, including:
(i) obtaining all necessary rulings and confirmations from the Securities Industry Council
(ii) agreement of definitive partnership terms, including binding debt financing terms, with the existing management team and founding family members and
(iii) final approval by the investment committee of SCPE of such terms.
The letter from SCPE states that it does not constitute a firm intention to make an offer by SCPE for any shares in the Company and should not be construed as creating any legally binding obligations on SCPE.
The Company wishes to highlight to its shareholders that it is not involved in the discussions relating to the definitive partnership terms. Shareholders should also note that there is no certainty or assurance that any transaction will arise from the proposal by SCPE or otherwise.
The Company wishes to advise its shareholders to refrain from taking any action in respect of their shares of the Company which may be prejudicial to their interests, and to exercise caution when dealing in the shares of the Company.
Shareholders who are in any doubt in relation to this announcement or as to the action to be taken, should consult their stockbroker, bank manager, solicitor, accountant, tax adviser or other independent professional adviser.
The Company will, in compliance with the applicable rules (including the Corporate Disclosure Policy of the Listing Manual of the Singapore Exchange Securities Trading Limited), make further announcements as appropriate. ------------------
StanChart Unit Is Said to Plan Stake in Singapore Crane Firm
https://www.bloomberg.com/news/articles/2017-11-09/stanchart-buyout-arm-is-said-to-plan-singapore-crane-firm-stake
Hope so sia.
Please dont break my heart again.
Please dont break my heart again.
MichaelSchenker ( Date: 10-Nov-2017 08:39) Posted:
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Halted.
Those waited for a Long time, is this the time?
Looking good..!
Those waited for a Long time, is this the time?
Looking good..!
Rebound up today after successful retest.
news leak?
announcement this weekend on sales??
Wow, $0.51 all taken out. Strong volume. Looks good.
this time is real???
no news....price slowly going down..
ysh2006 ( Date: 02-Oct-2017 18:50) Posted:
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Who will take over ? crane business will be good since govt said will release more construction projects...
tankookoo ( Date: 02-Oct-2017 12:07) Posted:
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NAV is about 77 cents for tat hong, nav for rotary is only 28 cents...
Last round, it was rumoured around 60 cents...my guess if got deal, should be at least 70 cents near to NAV.
hopefully above NAV, 80 cents...huat ar!!
Last round, it was rumoured around 60 cents...my guess if got deal, should be at least 70 cents near to NAV.
hopefully above NAV, 80 cents...huat ar!!
ysh2006 ( Date: 02-Oct-2017 11:59) Posted:
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Rotary can get 46c supposed Tat Hong should get more like 56-60c ?
sunview ( Date: 02-Oct-2017 09:36) Posted:
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should be able to see 50 cents soon..any chart experts can advise?