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In a transparent situation, the tendering process wld have been the tool to ensure tthat the coy' s best interests are served. N it wld seem almost certain that a better px cld have been fetched. That it was not done, creates a horrible horrible stench. Small fry shareholders n investor champions shd be really concerned the way things are happening. Yet, things seem to pass seemingly without even a whimper. Is this the true state of corporate governance n transparency?
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Maybe no need for excitement. ' Tis not the first time this kind of thing is happening. A few mths ago, it suddenly chiong up to ard 66c. Then tumble all the way to ard 51c. Likely all chng kay' s work, probably nothing more.
iinvestor ( Date: 12-Jul-2019 14:50) Posted:
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I doubt it. Firstly,we know how careful (kiasu?) this country is. It is unlikely for authorities to sanction ' mixing' of gambling with financial services, especially where consumer banking deposits are at stake. Secondly, GS itself wld probably want to concentrate its resources in its core competencies, ie, IRs in general n casinos in particular, bearing in mind especially that it surely has a big plateful to chew upon already, given the Sg expansion coming on stream. N with its eye trained also towards Japan, highly unlikely that it wld even think of diluting itself into non core areas.
HendriJB ( Date: 12-Jul-2019 08:15) Posted:
| Probably Genting Bank Online :) |
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In KC' s case, the illegal payments were even written into their contracts. Yet, the board were so lacking in their oversight (or they were so stupid that they ought to do some soul searching on their aptitude to sit up there) that it escaped them. KC was penalised by three jurisdictions, including the CPIB no less. So the case is beyond reasonable doubt. But for me, what shld have arisen from the case wld surely have been the CPIB also asking to comb through the SMM contracts, if the CPIB was sufficiently vigilant. N I assume they' d have done that n presumably found nothing amiss. This strengthens the probability that SMM is in the clear, having too, up to now, no apparent evidence surfacing otherwise. Furthermore, my reading of SMM' s recent two updates on Car Wash is that the focus is on possible wrong doing by an employee, ie MC. Like I mentioned earlier, a guilty employee does not necessarily taint his employing org, unless collusion is proven. So, I' m still inclined to continue casting my vote of confidence on SMM being above board. But, like I always say ..... DYODD.
smoothsailing ( Date: 11-Jul-2019 15:50) Posted:
For most judicial systems, if the judge or prosecutor in charge of the case is shown to be corrupt, the case is TAINTED and must be thrown out or at least reheard under a new court.
Since Sergio Moro(the Judge presiding over the Keppel and SMM cases) is now shown to be corrupt, the case against SMM is severely weakened and the Singapore and American Authorities are unlikely to agree with any determinations of the brazil office run by Sergio.
In this case, there may be no American factor at all, cos the US only wants to eat low-hanging fruit and usually won' t touch a " tainted" case(Segio Moro). In the case of Keppel, the directors of Keppel O& M(KOM) were taped by their own Keppel agent instructing him to bribe Sete. The agent also turned for the prosecution and gave testimony condemning Keppel. The agent only spent some months in prison and we understand he is on house arrest, he can go out during the day but must be home at night. Hardly any punishment at all.The US also had a spy inside Keppel(Keppel' s in-house lawyer) who stole all the internal emails showing bribery inside Keppel and gave it to US Authorities. Keppel also in the past was convicted of bribing Exxon(I think) but Singapore Govt let off Keppel with a $300K fine only. For the $400M+ fine to go thru, all 3 authorities had to agree to it, Brazil, US and Singapore. $100M went to US, $100M went to SG and $200M went to Brazil.
So Keppel cannot escape even if the Judge is corrupt, but SMM case is different. SMM' s agent so far has insisted he never bribed Sete(implies SMM not involved at all), and brazil office had to release him cos no evidence. In Brazil, they usually cannot get evidence, so they threaten u or keep u in jail u until u confess. If there is no new evidence in this case, then SMM must continue to be regarded as innocent, whether or not the agent is guilty. SMM has a very clean and transparent reputation in the O& G business, unlike Keppel. It never offers bribes unlike the other foreign shipyards that offer bribes like drinking coffee everyday.
If the new factor in this case is that SMM' s agent may have given kickbacks to SMM' s brazil boss Martin, in order to retain him as the agent for SMM, then it does not support the accusation that SMM directly bribed Sete.
The Brazil office claims this supports their accusation that SMM bribed Sete directly, but they r talking illogical nonsense and have been shown to be corrupt now.
The corrupt Brazilians r trying to extort a huge fine from SMM and maybe even try to destroy SMM and get " glory" for themselves. But SMM is probably innocent. So we should condemn these corrupt Brazilian scum, and support SMM since it is an important part of the Singapore economy and has a good reputation. |
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Yep, another q of red ink !!!!
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That' s bcos the stock seems too much under chng kay control already, n people are sick of it. Coy results are good, forward looking n potentially doing better going forward. Share px though gostan over time. Oh n do keep a look out for SD again this yr, which shd make total div add up to nearly 5s, or nearly 10 yield at current px.
basantd ( Date: 11-Jul-2019 09:48) Posted:
| wah resistance in this chat group also very strong..lol |
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But we' re only small boys leh.
pkli899 ( Date: 10-Jul-2019 09:29) Posted:
 haha u so funny.
Trader130 ( Date: 10-Jul-2019 09:25) Posted:
| This news not for Bb to know .. Sorri |
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The chinese are compulsive gamblers so said the great ......
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Frankly, I very much doubt they are gonna do so. But in the unlikely event they do, I think they' re likely to be more forthcoming than a lot of recent privatisations n pay a decent px.
soundblaster ( Date: 09-Jul-2019 18:43) Posted:
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Hahahahahahahaha. greatest joke in this forum. Thunder NEVER strikes, except at YOU.
sgng123 ( Date: 08-Jul-2019 05:32) Posted:
| Very scary similarity to NOL pre divestion to france carrier. NOL undego 3 years of cost cutting and renew it entire fleet. Then It non core logistic arm APL logistic got sold off, immediately followed by it eventually sale to france carrier with added condition to direct more cargo to sg terminal. The process is damn too strikely similar, just take note if sia eng eventually get sold off. SIa 3 years of transformation, undergo fleet renewal and sia eng divestment keep popping out these few years. Thunder strike twice lol |
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HLA privatise? To my mind a highly unlikely proposition.
soundblaster ( Date: 10-Jul-2019 20:28) Posted:
Temasek privatise SIA so that SGX can uplorry earlier?
I don' t think so.
If you want to bet on privatise, I will recommend Hong Leong Asia. 76% owned by Hong Leong and NAV $1.05 and previous right issue almost all funded by Hong Leong. |
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There may come a day when even politicians may just commute long distance in a drone. I for one am not writing off that possibility.
runaway ( Date: 10-Jul-2019 20:18) Posted:
You still dont understand.
SIA can never be sold.
It can, however, be privatized but 100% owned by Temasek.
When our PM flies, it is always SQ, and his schedule is P& C. This is only possible if the Airlines is owned by Singapore. Need I say more?
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Worst is no one interest at all. Today an unbelieveably bountiful 600 shares changed hands. Really great xchange we are in. First 100 shares done ard 11 am+. N it looked liked gonna stay that way until 4.12pm when another 500 shares traded. I think it' s really time for the equity mkt to shut down completely. Re-deploy talent more appropriately where it cld be more optimally tapped.
helloisme ( Date: 02-Jul-2019 09:24) Posted:
This one move like " old fat elephant"  |
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Hahaha, even fat Ching seem to kena f****d ard. Do they give a damn abt minority small fries at all? If they had given fat Ching the option to take up, likelihood is the coy wld probably have ended up with a better px, which means more $$$ in the kitty. But, no, they' re probably too wary of fat Ching. So, the pertinent qn is : what are independent directors' contributions in board rooms? Authorities here, n supposed s/holder ' spokes people' shd really take a hard look at this one I' d think.
desmodeus ( Date: 10-Jul-2019 13:55) Posted:
| Oxley will get our first call in a takeeover tussle |
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But, truth is, share px sucks !!!!!!
basantd ( Date: 10-Jul-2019 16:31) Posted:
Good Annual report and results.
Earnings yield 10.53%
Dividend Yield 5.26%
Technically chart also looking good.
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U' re right. DYODD is best. There' s quite a fair bit of speculative analysis being thrown ard, nothing more. Thx share px itself seems to have stabilised ard 141-42 the last few sessions.
noslen ( Date: 08-Jul-2019 16:47) Posted:
| Interesting to see how this unfold.... just vested today. It depends on if you believe this will pan out the same way as Keppel or different. |
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SP had announced its intention to exit the US business during its 4Q 18 results announcement (see extract below) which is expected to be a +ve. So, with the share px firming the last few sessions, cld it be that mkt expectations or rumours of the sale materialising.
Extract from SP press release for 4Q18 result announcement
Exitof U.S.businesses
Following a strategic review of the U.S. businesses, its prospects and additional investments required, the Group decidedto put the U.S.businesses up for sale and exit the U.S. market. The Group believes its strengths and strategic competitive advantages are in Southeast Asia and Asia Pacific, which would provideattractive growth opportunities and better returns on investments.
The Group has reviewed the carrying value of the U.S.businesses, which involved a review of historical performance and evaluation of the value-in-use for each of the businesses.The Grouphas recordeda total impairment of S$98.7million to the carrying value of TradeGlobal and Jagged Peak, comprising the balance of S$67.6 million for goodwill and intangible assets, and the balance of S$31.0 million for property, plant and equipment (PPE).
Trader130 ( Date: 08-Jul-2019 09:27) Posted:
Sale to who, u mean SingPost sold to ? % ?
Qanghoo ( Date: 08-Jul-2019 09:01) Posted:
| Share px creeping back quietly to abt 1 the last few days. Cld be sale of US unit taking off |
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22 mil shares one day, 71 k the next day. Only famous sg bourse got this kind of thing happening !!!!
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I granted my own wish.
SuperLuckyCorn ( Date: 04-Jul-2019 14:18) Posted:
Ok..now try to grant u ur wish.
CuriousX ( Date: 04-Jul-2019 13:03) Posted:
| Was expecting the price to go up... but it came down instead. (
Why ah? |
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So, what he says is gospel truth. I see.
topster ( Date: 08-Jul-2019 10:13) Posted:
&ldquo KGI analyst Joel Ng observes that the $2 billion line was divided into two portions. The first, $1.5 billion at a rate of 3.55% a year, is to be used by SembMarine to retire a bond. The remaining $500 million, carrying a rate of swap offer rate plus 1.91% a year, is meant for working capital, which Ng believes is set aside in case of any fines that might arise from the Brazilian case.&rdquo
So it is a matter of when to be fined and the amount. Dragged on for too long already |
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