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Nothing has happened yet, the offer was made on April 9th this year, and time will be given till September 9th 2017 to fulfill all needed requirements for the sale.
bishan22 ( Date: 12-May-2017 11:20) Posted:
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they offer 2.33 to buy....now change plan???
investshare ( Date: 12-May-2017 11:09) Posted:
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What happen?
Now the HNA Group will be really encouraged to buy and will be putting-in more serious actions to grab CWT !
CWT posts 28% rise in Q1 net profit
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LOGISTICS player CWT Limited on Tuesday posted a first quarter net profit of S$30.2 million, up 28 per cent year on year, lifted by strong performances from its commodity marketing and logistics businesses.
Revenue for the three months at end March 2017 surged 39 per cent year-on-year to S$2.6 billion, largely driven by its commodity marketing segment which recorded higher trading volume at significantly higher commodity prices over the same period a year ago.
The Singapore-listed company said in a filing to the Singapore Exchange (SGX) that its logistics business also returned improved profit attributable to the warehousing and commodity logistics business, even though its engineering services operations softened due to weaker demand and its financial services arm weakened due to fewer structured trade opportunities despite stronger brokerage services.
Correspondingly, earnings per share in Q1 came in at 5.03 Singapore cents, up from 3.95 cents a year ago.
Cost of sales grew 41 per cent to S$2.5 billion.
CWT' s net asset value at end March 2017 was 148 Singapore cents, up from 145.6 cents in Dec 31, 2016.
In an update, the company said the construction of CWT mega integrated logistics hub is in progress. Levels 1 and 2 of the warehouse obtained temporary occupation permit (TOP) on Feb 16 this year, while levels 3, 5, 6 and 7 obtained TOP on May 2. It said the warehouse is targeted to complete by the third quarter of the year.
A month ago, CWT had said in an SGX filing that Chinese conglomerate HNA Group had launched a privatisation offer for the company at S$2.33 per share, valuing its roughly 600.3 million shares outstanding at roughly S$1.4 billion in all.
C' mon guys, don' t miss this boat.
Good chance to take in some profits, maybe small, but good chance. Although I dare not say 100% sure win.
Last trading 228/229
MichaelSchenker ( Date: 24-Apr-2017 21:18) Posted:
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Will HNA succeed in getting clearance from anti-monopoly bodies in China before making a formal offer to buy out CWT at 2.33?
Seems like current price of 2.28 not moving, even though there' s a CD of 0.03.
waiting for CK to raise higher stake....
bot mine at 2 and sold this morning 2.26.. sell and move on, look for other counters...
dun think worth the time to fight the battle further...even they raise the offers, dun be much, feel better put time and effort to look for another counter...
Tat Hong is one potential for privatisation or TO, now that its business has improved, hope it revive take over talk...
2.50 is definitely more palatable. As shareholders, I think we can vote against it right?
RedEye1811 ( Date: 10-Apr-2017 09:37) Posted:
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Agree with you...I bought at 1.90 with TP of 2.25...but with a buyout I felt that would have given it a further premium for 2.50...2.33 above my TP but barely....after waiting so long for negotiations was expecting far more...but, what can do???
Crossback ( Date: 10-Apr-2017 08:34) Posted:
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Sai... cannot even reach 230.....
Crossback ( Date: 10-Apr-2017 08:34) Posted:
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Disappointed with the offer price. Think is too low....
Lifting of Halt trading today.... Good luck to all vested....
PRE-CONDITIONAL OFFER!
Based on previous " PRE-CONDITION" offer. I dun expect the share price to trade at $2.33, perhaps may trade around $2.20.. then have to wait until near 9 September 2017, then IF pre-conditions satisfied, share price will slowly creep towards $2.33.
Take NOL, Amtek for example.
The CWT VGO will not be made unless and until the Pre-Conditions are fulfilled or waived by the Offeror (as applicable) on or before the date falling 5 months after the date of this Announcement, being 9 September 2017, or such other date (the " Long-Stop Date" ) as the Offeror and the Company may determine in consultation with the Securities Industry Council (the " SIC" ). Accordingly, all references to the CWT VGO in this Announcement refer to a possible voluntary general offer which will only be made if and when such Pre-Conditions are fulfilled or waived by the Offeror (as applicable). Nothing herein shall constitute an offer to sell or a solicitation of an offer to subscribe for the securities of HK ListCo and/or CWT.
Formal Offer Announcement. If and when all the Pre-Conditions have been fulfilled or waived by the Offeror (as applicable), the Offeror will make an announcement of its firm intention to undertake the CWT VGO (the " Formal Offer Announcement" ). The CWT VGO Offer Document and the appropriate form(s) of acceptance for the CWT VGO will be despatched to the CWT Shareholders not earlier than 14 days and not later than 21 days from the date of the Formal Offer Announcement or such other date permitted under the Code.
However, if any of the Pre-Conditions are not fulfilled or waived by the Offeror (as applicable) on or before the Long-Stop Date, the CWT VGO will not be made and the Offeror will issue an announcement confirming that fact as soon as reasonably practicable.
http://infopub.sgx.com/FileOpen/Offeree_Response_Announcement.ashx?App=Announcement& FileID=447114
bishan22 ( Date: 09-Apr-2017 21:41) Posted:
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Let's wait for official announcement from cwt. Huat liao.
StockOgre ( Date: 09-Apr-2017 19:54) Posted:
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Congratulations!
Reuters
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Edition: United States
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Sun Apr 9, 2017 | 8:38 AM EDT
China's HNA offers to buy Singapore's CWT for $1 billion
X
By Sijia Jiang | HONG KONG
China's HNA Holding Group Co. (0521.HK) said it would make an offer to acquire Singapore-listed logistics firm CWT Ltd (CWTD.SI) for $1 billion.
The Chinese conglomerate said in a filing to the Hong Kong Stock Exchange late on Sunday that its subsidiary HNA Belt and Road Investments (Singapore) Pte. Ltd would offer to purchase 600 million CWT shares at S$2.33 apiece, which values the deal at S$1.399 ($0.9962) billion.
Reuters
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Edition: United States
TOP NEWS
BUSINESS
MARKETS
WORLD
POLITICS
TECHNOLOGY
COMMENTARY
BREAKINGVIEWS
MONEY
LIFE
PICTURES
VIDEO
TOP NEWS
Sun Apr 9, 2017 | 8:38 AM EDT
China's HNA offers to buy Singapore's CWT for $1 billion
X
By Sijia Jiang | HONG KONG
China's HNA Holding Group Co. (0521.HK) said it would make an offer to acquire Singapore-listed logistics firm CWT Ltd (CWTD.SI) for $1 billion.
The Chinese conglomerate said in a filing to the Hong Kong Stock Exchange late on Sunday that its subsidiary HNA Belt and Road Investments (Singapore) Pte. Ltd would offer to purchase 600 million CWT shares at S$2.33 apiece, which values the deal at S$1.399 ($0.9962) billion.
Congrats ! to all Longist !!
StockOgre ( Date: 09-Apr-2017 19:54) Posted:
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$2.33!