Post Reply
61-80 of 245
It is only 53cts, the other 5c is your dividend!!
PSE note.
Yes me too. SIAS has recently come out with a list of questions posed to Sin Heng (also in the SIAS website) but I think the Sin Heng directors there will just ignore. Unless SGX steps in.
No way I am selling to them at 58cts. I think got good chance would not cross 90% with the latest revelations.
tonyphua ( Date: 17-Apr-2025 14:58) Posted:
I have written to SIAS and ask them to look into this matter, and that of the recommendations by IFAs.
Hope they can help the minority shareholders pursue and get a fair value from the Directors of Sin Heng!
In the meantime, we can only hope for a white knight to counter offer.
We should also NOT tender our decision to this BAD DEAL! |
|
I have written to SIAS and ask them to look into this matter, and that of the recommendations by IFAs.
Hope they can help the minority shareholders pursue and get a fair value from the Directors of Sin Heng!
In the meantime, we can only hope for a white knight to counter offer.
We should also NOT tender our decision to this BAD DEAL!
Did you notice they purposely disguise the IFA recommendation under circular announcement. Very smelly. I think with this latest announcement by their own IFA not to accept the offer the number of acceptances will fall short of 90%
ysh2006 ( Date: 17-Apr-2025 13:50) Posted:
| They announced they already get 72% altogether liow...another 18% more we game over already.. |
|
They announced they already get 72% altogether liow...another 18% more we game over already..
So how now brown cow?
16 Apr 2025 05:17 PM
ANNEX B &ndash LETTER FROM THE IFA TO THE INDEPENDENT DIRECTORS . . . . . . . . . B-1
https://links.sgx.com/FileOpen/2.%20Sin%20Heng%20-%20Offeree%20Circular.ashx?App=Announcement& FileID=841315
The Independent Financial Advisor has indicated the offer is not fair and not reasonable.
https://links.sgx.com/FileOpen/2.%20Sin%20Heng%20-%20Offeree%20Circular.ashx?App=Announcement& FileID=841315
Having considered the above and subject to the assumptions and qualifications set out in this Letter, we are of the opinion that on balance, the financial terms of the Offer are not fair and not reasonable. In arriving at our opinion, we have considered the following pertinent factors and have placed greater emphasis on asset-based financial ratios given that the Company is in asset intensive business: (i) we note that the Group has been profitable from FY2022 to FY2024 with net profits increasing from approximately S$3.65 million in FY2022 to approximately S$6.27 million in FY2024. The Group has also declared dividends over the last three financial years with dividend yield ranging between 7.61% and 10.99%. The Group&rsquo s shareholders equities have increase from S$104.74 million in FY2022 to S$107.54 million in FY2024. This implies that the Group is able to generate returns from the deployment of its assets. Accordingly, the steep discount of the Offer Price, on a cash and cash equivalent adjusted basis, from the Ex-cash NAV per Share, Ex-cash NTA per Share, Ex-cash RNAV per Share and Ex-cash RNTA per Share for a company that is profitable, declaring dividends at a high single digit yield and growing shareholders equities with significant cash reserves does not appear to be reasonable (ii) the Offer Price, as adjusted for cash and cash equivalents of S$0.14 per Share, represents significant discounts to the Ex-cash NAV per Share, Ex-cash NTA per Share, Ex-cash RNAV per Share and Ex-cash RTA per Share that ranged from 72.45% to 80.36% (iii) The Offer Price represents a premia of over the 1-month, 3-month and 6-month VWAP prior to the Offer Announcement Date that is significantly lower than the mean and median premia of the Selected Comparable Transactions and (iv) the P/NAV and P/RNAV as implied by the Offer Price is below the median and mean of the P/NAV ratios of the Selected Comparable Transactions. Accordingly, we advise the Independent Directors to recommend that Shareholders REJECT the Offer.
If small minority shareholders do not band up and fight Sin Heng, then just be happy with your losses lor
https://tinyurl.com/37tsjr68
ysh2006 ( Date: 15-Apr-2025 13:25) Posted:
Cannot see the link can make it active ?
cowabunga ( Date: 15-Apr-2025 10:06) Posted:
| --- Post Removed by User --- |
|
|
|
Sin Heng see SIAS no up, no need reply
Cannot see the link can make it active ?
cowabunga ( Date: 15-Apr-2025 10:06) Posted:
| --- Post Removed by User --- |
|
Fair value $2.75
https://simplywall.st/stocks/sg/capital-goods/sgx-bka/sin-heng-heavy-machinery-shares/valuation
https://simplywall.st/stocks/sg/capital-goods/sgx-bka/sin-heng-heavy-machinery-shares
Trading at 78.9% below our estimate of its fair value
e of its fair
Think SIAS is always sleeping.
tonyphua ( Date: 20-Mar-2025 16:20) Posted:
Ref the Maybank securities Offer document, the Offeror takes the offer prce of $0.58 to make the comparisons shown below. This is wrong expression of facts as the actual take-home price is FACTUALLY only $0.53 (exclude dividends made in last year' s earnings). Or the document should have 2 graphs to show before and after dividend payments. This could be construed to misguide the investors. Think Sias should be made aware of this fact.
-----------
From Maybank Offer Document...
The Offer Price represents a premium of approximately:
(a) 6.4% over the last transacted price per Share of S$0.545 on 13 March 2025 (being the last full market day on which the Shares were traded, prior to the release of the Offer Announcement (the &ldquo Last Trading Day&rdquo )) and
(b) 5.8%, 4.3%, 7.6%, 11.8% and 19.3% over the volume weighted average price (&ldquo VWAP&rdquo ) per Share for the one (1)-month, three (3)-month, six (6)-month, 12-month and 24-month periods, respectively, up to and including the Last Trading Day.
 |
|
One of the reasons always accompanying low ball offers is to " allow retail
shareholders to monetise their investments" .
I find this very insulting. I do not want to monetise my investment at a
cut throat price. I want to hold the shares longer until the price reach
a fair value.
The recent Suntec Reits takeover also failed because the advisor say too low the intrinsic price is $1.36 while the substantial shareholder offered $1.16 and later $1.19
Ref the Maybank securities Offer document, the Offeror takes the offer prce of $0.58 to make the comparisons shown below. This is wrong expression of facts as the actual take-home price is FACTUALLY only $0.53 (exclude dividends made in last year' s earnings). Or the document should have 2 graphs to show before and after dividend payments. This could be construed to misguide the investors. Think Sias should be made aware of this fact.
-----------
From Maybank Offer Document...
The Offer Price represents a premium of approximately:
(a) 6.4% over the last transacted price per Share of S$0.545 on 13 March 2025 (being the last full market day on which the Shares were traded, prior to the release of the Offer Announcement (the &ldquo Last Trading Day&rdquo )) and
(b) 5.8%, 4.3%, 7.6%, 11.8% and 19.3% over the volume weighted average price (&ldquo VWAP&rdquo ) per Share for the one (1)-month, three (3)-month, six (6)-month, 12-month and 24-month periods, respectively, up to and including the Last Trading Day.
Not likely at this juncture. Even if there's a mandatory takeover, it's still the same price at 58.
The main job of Sias is to take care of minority shareholders. So, they shld be obliged to look into the case.
ysh2006 ( Date: 20-Mar-2025 14:57) Posted:
No worry 90% than can else like Amara hotel still listed lah.
cowabunga ( Date: 20-Mar-2025 14:44) Posted:
| --- Post Removed by User --- |
|
|
|
