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Bro, what you say is true but this should not be the case if the seller of those assets is also a substantial owner in TopGlobal. In such cases, the substantial owner usually sells the assets at a discount and certainly not at a high premium like what is happening now.
Based on today' s prices, the financials of this deal are as follows:
19,000,000,000 TGL shares for 3,412,821,351 shares in PT Suryamas Dutamakmur Tbk.
Topglobal - 19,000,000,000*0.008= SGD 152,000,000 (or SGD 152 mil)
PT Suryamas - 3,412,821,351*150IDR = 511,923,202,650 IDR (or 511 BIL IDR) = SGD 54,182,054 (or SGD 54 mil)
Why the hell is TopGlobal paying a 200% premium? For SGD 100mil, you can buy a lot of " permits" in Indonesia.
But i think this could work both ways its like buying an access to construct something in another land.
The main deal i believe is not buying suryamas, instead its purchasing the permit to expand the construction into indonesia.
I am guessing sumawati is following her dads step in sin mas land, but dont know whether it would work out as well anot.
kusje58 ( Date: 20-Sep-2014 22:08) Posted:
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Sorry, forgot to add something more.
Recent trades seems to indicate that there will be some movement as volume is up substantially. I think the shares will move up if the useless deal gets called off.
I believe there is substantial value in Topglobal (cash and property inventory) even though the inventory has been unsold for quite some time. As long as property prices don' t crash substantially, we have to remember that NAV is around 1.2 cents (50% above current share price).
Hope the deal gets called off soon or the price gets decreased substantially. Based on the current deal, I don' t think minority shareholders will vote for the deal to pass. As long as there is no hanky panky voting, we should be safe - but with indonesians, who knows.
Don' t forget to take into account the fall in the share price/value of PT surayasma itself since Dec. In Dec, it was 200+ IDR and only 164 as of last trade. If you factor in the fall in IDR currency during that period as well, the buying price should go DOWN and definitely not up.
I am vested and not happy.
dragonn ( Date: 20-Sep-2014 17:44) Posted:
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If this is the case.
I think she just want to use Top Global to show her wealth as soon liao lol
unique6 ( Date: 16-Sep-2014 10:16) Posted:
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SGX should query management. The share swap was initially priced at NTA 1.18 cents but Sukmawati revised it down to 0.8c to get more shares. Since she is the one receiving those extra shares, it is basically robbing the public minority shareholders.
Sukmawati is so greedy. Karma goes around. Sukmawait will be Sukwa MATI soon.
dragonn ( Date: 10-Sep-2014 21:03) Posted:
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In year 2013 December, they had planned to acqusite Suryamas Dutamakmur
http://sbr.com.sg/commercial-property/more-news/tgl-purchase-7152-share-in-pt-suryamas-dutamakmur-tbk-s1529m
Why do they acquisite suryamas dutamakmur tbk?
Indonesia is one of the fastest growing countries in the region with a large population base. The Acquisition will allow TGL immediate access to the Indonesian property market and enhance its vision to be a leading property developer in the region.
The Acquisition will also provide additional sources of revenue and diversify TGL&rsquo s existing business.
The increased economies of scale are also likely to generate improvements in operational efficiency.
http://infopub.sgx.com/FileOpen/TGL_Announcement_Results2Q2014_24July2014.ashx?App=Announcement& FileID=306641
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Profit : 1,463,000 (Which is the equivilent to the profit they had gained in 2011 and 2012 in just half a year)
What to expect in year 2014 December: (Another half year to go)
http://infopub.sgx.com/FileOpen/TGL-%20TTT.ashx?App=Announcement& FileID=309891
FINANCIAL EFFECTS
The Sale is expected to result in a net gain of approximately S$351,000 (the " Gain" ) after taking into the account of divestment fee and other estimated related costs.
The earnings and net tangible assets of the Company in the current financial year ending 31 December 2014 will be positively affected by the amount of the Gain.
Whats the long term effect for this acquisition of Suryamas Dutamakmur?
http://markets.ft.com/research/Markets/Tearsheets/Financials?s=SMDM:JKT
The meaning of the phrase " expect the unexpected" ..... The more you think is impossible, the more surprise you will get.... This is markets.....Enjoy....
nqing87 ( Date: 21-May-2014 17:33) Posted:
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bro u joking? this one shares floating so high, need many shares to push 1 bid.. will get stuck one
Isolator ( Date: 21-May-2014 17:25) Posted:
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Ok...Can start to acummulate already.....enjoy...
the stock is very quiet now. do not have any movement yet.....
Top Global 1Q14 net loss of $0.7m (-65% y/y) despite revenue surging 260% to $4.7m. Top line was boosted by recognition of revenue from sale of development properties from its Braddell and Bartley projects. However higher cost of sales of the two projects led gross margin to halve to 25.5% from 56.2%.
First quarter result out, seems like lost money again?
How could " c" jump to " q" ? Ridiculous keyboard or SJ software doing the trick? Lol.
Luckily I told you not to long, else many qould buy this morning and then kpkb.
I wouldn' t be too enamoured with this stock for short-term gains.
If the insiders are not aware, what about outsiders? As I say, if you want to risk some money, make you it is fast ina and fast out (FIFO). That is when it is up a few bits, quickly sell. Don' t take big risks unless your capital is huge. The sharks might push up but may not let you have time to run. So be very very careful with penny stocks. Cheers.
WanSiTong ( Date: 28-Apr-2014 08:42) Posted:
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Very impressive homework. I like the way you analyzed this. I just bought in. I think action coming. Top Volume for more than a day!
xiaofang_ ( Date: 26-Apr-2014 00:18) Posted:
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TRADE WITH CAUTION
Singapore Exchange Securities Trading Limited (" SGX-ST" ) wishes to draw the market' s attention to the recent query SGX-ST issued to Top Global Ltd (the " Issuer" ) on 25 April 2014 regarding the substantial increase in its traded volume on 25 April 2014. The Issuer has responded on 25 April 2014 that it was not aware of any reasons that could possibly explain the trading in its securities.
In view of the trading activities observed and the Issuer' s response, shareholders and potential investors should exercise caution when dealing in the securities.
The Exchange will investigate all possible transgressions and will work with the relevant regulatory agencies to pursue actions to maintain a fair, orderly and transparent market.
Wed..look out sgx buy in...for this type of counter..shorties wont stupid to let sgx buy in for them unless error in trade..because it is easily cover back in closing matching
mesz33 ( Date: 27-Apr-2014 18:49) Posted:
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