VibroPower    Last:0.044   -

VibroPower

Having studied all the CHNGkay post, I believe CHNG is the benolevent savior who put his money where his mouth is. If vibropower dun do well HE HAS MUCH TO LOSE. 

 

Recent media article and sgx announcement states that CHNG is looking to change the board...

After reading thru Vibropower announcements and historical financial results, one can probably understand why he is doing so.

Vibropower need new ideas and new talent to revive!!!! so that shareholders can benefit from new value propositions.

 

Market down but    VibroPower is up, i belief must be Chng buying and supporting the company.

 

Chng Beng Hock is buying almost every day....

Concur with immotion, the worst thing that shareholders can face is poor business management. Really sad case for Vibropower shareholders.

CEO, Benedict Chen, still get at between 250K to 500k of salary and benefits each year despite such lousy performance for the past 3 years.

Hope Chng and other shareholders can rally together and give Vibropower another lifeline...

 

This counter went through 10 to1 share consolidation, i think 2015. At that time before share consolidation is 3 plus cents, it mean today 30+ cents. Over the years, value are destroyed to today price by what? poor busienss management. Over the period value lost +90%!

 

Thanks WB, Vibropower shareholders should take note of the 2 pointers highlighted...

Why would the board sell (to a party recommended by the CEO) at a lower valuation, raising less funds and creating more dilution for shareholders?

WBdisciple      ( Date: 14-Oct-2020 23:13) Posted: Chng' s background seems quite solid, his family is in property development business and his brother has been part of Hong Leong Finance board for more than 10 years.  Chng Beng Hock became substantial shareholder of Vibropower around middle of 2020 and announcements were made by Vibropower as he increased his stake... But, a few things from Vibropower that are baffling and deserves shareholders attention: In Sept 2020, the Board of Vibropower announced a share placement of  9,500,000 shares at 13.2 cents to Father and Son of a Wong Family. The Subscribers were introduced to the Company by Benedict Chen Onn Meng, the Company&rsquo s Chief Executive Officer. 1. If Vibropower need to do share placement, why not sell it to Chng Beng Hock since he has been buying shares higher than 13.2 cents before the share placement announcement?  2. Why sell at 13.2 cents which is a discount to traded price and NAV?

 

The important thing for shareholders to NOTE is that CHNG is buying and buying and buying.

 

He has MUCH to lose if Vibropower dun do well. 

 

Chng' s background seems quite solid, his family is in property development business and his brother has been part of Hong Leong Finance board for more than 10 years. 

Chng Beng Hock became substantial shareholder of Vibropower around middle of 2020 and announcements were made by Vibropower as he increased his stake...

But, a few things from Vibropower that are baffling and deserves shareholders attention:
In Sept 2020, the Board of Vibropower announced a share placement of  9,500,000 shares at 13.2 cents to Father and Son of a Wong Family. The Subscribers were introduced to the Company by Benedict Chen Onn Meng, the Company&rsquo s Chief Executive Officer.

1. If Vibropower need to do share placement, why not sell it to Chng Beng Hock since he has been buying shares higher than 13.2 cents before the share placement announcement? 
2. Why sell at 13.2 cents which is a discount to traded price and NAV? 

 

CHNG continues to increase his shareholding..important thing is he puts his money where his mouth is

 

Er...Vibropower entered watch list 18 May 2020:
https://links.sgx.com/FileOpen/VCL_SGX_Watchlist_Quarterly_Update_18May2020.ashx?App=Announcement& FileID=611290

 

 

Agree with Laggard....current performance of Vibropower is truly disappointing....company makes barely S$1m and CEO gets between S$250,000 and S$500,000 in salary and benefits..

Placement at discount and below NAV is not beneficial at all.

Wonder what is the board doing....if loss making continue, watch list will come soon. 
 

 

Placement caused share price to drop by close to 40%, way below NAV and current share price!
Only benefit key SH not minority SH!

 

Ya, time for a change liao in Vibropower. Current managment and board not looking after minority shareholders, NAV dropping, keep losing money, share value diluted.
So see what CBH can do to stir up and get value back for minority SH. The company just do placement at low price further hurting minority SH 

WBdisciple      ( Date: 13-Oct-2020 20:19) Posted: Just sharing lah....not sifu...Compact Metal cash position improved to S$33m (which was 50% of its net assets) as at dec 2014 (you can check out SGX website) as compared to less than S$5m in dec 2008...total liabilites S$13m.... I like shareholders that have SKIN in the game...otherwise all sort of talk is just HOT AIR... At least this Chng Beck Hock is trying to do something for shareholders: From BT article: https://www.businesstimes.com.sg/companies-markets/vibropower-shareholder-wants-to-oust-board " From January this year, Mr Chng also tried to arrange a meeting with the chairman Mr Chen to discuss his plans and intentions for the company. But he was repeatedly put off, with the company citing Mr Chen' s unavailability or sensitive periods."

 

Saw this from another forum posting....

Founder/CEO/Chairman Benedict Chen Onn Meng remuneration for past 3 years&hellip company profits facing downtrend but salary no down trend&hellip .

FY2019
Between: $250,000 to $500,000
(Salary is 79%, allowance and other benefits is 21%)

FY2018
Between: $250,000 to $500,000
(Salary is 79%, allowance and other benefits is 21%)

FY2017
Between: $250,000 to $500,000
(Salary is 77%, allowance and other benefits is 23%)

Now pandemic has hit economy hard and many listed companies have announced pay cuts but it seemed that there is no news from Vibropower side...

 

no lah...it is good to have a holistic view and we are all learning from each other...

I am always intrigued when such activist shareholders come into the picture...because they are vested heavily.

For CHNG Beng Hock, if Vibropower does badly (and the trend is troubling), he and rest of Vibropower has much to lose...
 

 

My humble opinion: There are other aspects of financials that required evaluation and analysis.  End day, for COMPACT, the CHNG family hunkered down for 7 years as major shareholder.

Comning back to VIBROPOWER: 
HY 2020: revenue dropped 64% to S$2.8m and reverse into a loss of S$1.6m
https://links.sgx.com/FileOpen/VibroPower%20Corporation%20Ltd%20Announcement%20for%20HY2020%20_14.8.20_R.ashx?App=Announcement& FileID=628002

For FY2017 (S$0.5m net profit), FY2018 (S$0.8m net profit) and FY2019  (loss of S$2.8 million)

Based on current trends.... there are probable cause of concerns for Vibropower shareholders.

Pls do your own DD.

 

Every post you quote a different statistic..haha..thanks for the source..looks like accumulate losses (your quoted stat) was NEGATIVE S$70m as at Dec 2014 based on SGX website. Thanks

What is your opinion on the Consecutive 3 Years Losses and SGX watch list saga? This one:

NOTICE OF INCLUSION ON THE WATCH-LIST WITH EFFECT FROM 04 MARCH 2015 The Board of Directors (the & ldquo Board& rdquo ) of Compact Metal Industries Ltd (the & ldquo Company& rdquo ) wishes to announce that following the Notice of 3 Consecutive Years& rsquo Losses released by the Company on 03 March 2015, the Singapore Exchange Securities Trading Limited (the & ldquo SGX-ST& rdquo ) has notified the Company that it will be placed on the watch-list with effect from 04 March 2015. The Company will have to fulfill the requirements under Rule 1314 of the SGX-ST Listing Manual for its removal from the watch-list within 24 months from 04 March 2015, failing which the SGX-ST would delist the Company or suspend trading of the Company& rsquo s shares with a view to delisting the Company. The Company would like to notify all its shareholders and business partners that the Group& rsquo s business shall continue as usual, and that trading in its securities will also continue unless a trading halt or suspension is effected. BY ORDER OF THE BOARD Chng Beng Hua Executive Director 04 March 2015 

https://links.sgx.com/FileOpen/Inclusion%20in%20Watch%20list.ashx?App=Announcement& FileID=337331

Love to hear your thoughts...


 

 

Just sharing lah....not sifu...Compact Metal cash position improved to S$33m (which was 50% of its net assets) as at dec 2014 (you can check out SGX website) as compared to less than S$5m in dec 2008...total liabilites S$13m....

I like shareholders that have SKIN in the game...otherwise all sort of talk is just HOT AIR...

At least this Chng Beck Hock is trying to do something for shareholders:

From BT article: https://www.businesstimes.com.sg/companies-markets/vibropower-shareholder-wants-to-oust-board
" From January this year, Mr Chng also tried to arrange a meeting with the chairman Mr Chen to discuss his plans and intentions for the company. But he was repeatedly put off, with the company citing Mr Chen' s unavailability or sensitive periods."


 

 

Thanks Sifu..any idea what was the level of accumulated losses by the time they sold to the Chinese? They cleared the $80m of debt?

Agree that substantial shareholders have the most to lose if Vibropower don' t do well.