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721-740 of 816
- It has abt S$50m cash or S$0.112 cash per share. NAV is abt S$0.206 per share
- From the proposed restructuring, controlling shareholder Ang family wants to buy the garment biz for up to S$63m or S$0.14. To pay for it, they are proposing capital reduction, which i presume they are returning cash to shareholders (Ang family collectively owns abt 58.6% of the shares). With share capital and retained earnings of abt S$90m, could they be returning cash of as much as S$50m?
- From the FY ending 31 Dec 2011 financial results, it generates a net cashflow (before dividends) of abt S$16m or S$0.36 per share on year 2011 66% of its revenue are from US, which consumer consumption is recovering due to an improving labour market, its no wonder the Ang Family wants to buy up the core garment biz
- For the china property biz, they are buying for S$310m (the announcement stated NAV of RMB3.3b or S$657m i.e. purchase price reflects a discount of > 50%), by issuing 925,373,134 new shares. The enlarged number of shares post-RTO would be abt 1,373,868,187 or S$0.23 per share for the china pty biz alone
- Hence the garment biz of S$0.14 + china property biz of S$0.23 should reflect a price of abt S$0.37. To be conservative, you could further discount the china property biz by 50% i.e. S$0.115, to get a value of abt S$0.25. Either way, teh current price of S$0.173 looks cheap, valuation-wise.
Above are just my opinion , not an invitation to invest and I am vested hence my views could be biased
sifu papa,
Just loaded more ocean this afternoon. interested in the news. can share?
thank you! =))
PapaSmurf ( Date: 05-Apr-2012 21:59) Posted:
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pm u
bryancbq ( Date: 05-Apr-2012 21:52) Posted:
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PapaSmurf! Can share with me also?!?! haha. i totally forgotten i am going away this sat for a week. can't monitor the market =(
PapaSmurf ( Date: 05-Apr-2012 20:57) Posted:
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Gavin
You got pm for news on Ocean.
Hope you hang on for the reason
gavinl ( Date: 05-Apr-2012 16:37) Posted:
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holding. i still feel its emotional play. hahahah. maybe i am wrong. the most drop to 0.13. lol
what's wrong with the married deals?! irritating.
hahah. u so funny. mmm.
doldoves ( Date: 05-Apr-2012 16:52) Posted:
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harooo there.... any Master... sifu.. BBs.....good wise advise????? quick.. got only 8 mins to decide.. 
bryancbq ( Date: 05-Apr-2012 16:48) Posted:
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sian...should hold till monday anot? lol.
XXXXXXXXX again.
Reaching 0.17 liao,sign.......
Hahaha so hot in the forum, how not to watch at this. Although it had dipped quite a lot but still no confident. Moreover, i am working, don't have so much time to monitor. Good luck to you on this counter! :) Huat ah!
bryancbq ( Date: 05-Apr-2012 15:10) Posted:
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mmm...are there even the slightest reason for it to go further up? haha.
Painful bro.
Hope my 0.17 trigger loss wont be hit.
ls8615 ( Date: 05-Apr-2012 15:52) Posted:
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I think so. I didn't read carefully and thought it was good for shareholders S$0.335 and hope it will cheong.
Checked the 2010 annual report and saw 88.69% of shares held by 23 persons. Their call.
I sold at $0.175 today.
mmm...that means no future for shareholders?
ls8615 ( Date: 05-Apr-2012 15:33) Posted:
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REALLY!!!!.... for a moment I was much elated 
.... a sense of hope.
. keep my fingers crossed for now and watching closely.
.... a sense of hope.. keep my fingers crossed for now and watching closely.kahlid ( Date: 05-Apr-2012 15:20) Posted:
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Existing total number of shares = 425,525,361
925,373,134 new shares at S$0.335 is to issue to Sinway Investment (Owner of Chiwayland).
As a result Sinway will become the controlling shareholder (reverse takeover). Eventually Oceansky business will be disposed (to be sold to the existing CEO,SMO and SVP) at much much below NAV.
If you look at Chiwayland's website, they do not post new news since July 2011. Not much info can be found.
kahlid ( Date: 05-Apr-2012 15:20) Posted:
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I read somewhere in the doc that they are issuing new shares at 0.335 per share?
ls8615 ( Date: 05-Apr-2012 15:03) Posted:
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