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https://www.sgx.com/research-education/market-updates/20251105-growth-motion-china-sunsine-married-deal-next-50?sgxembed=true
YZJF has the highest net instituitions inflow for the whole 2025 as far as iEdge Next 50 is concerned. 1H saw $164m inflow and 2H chalked $16m. Funds and Instituitions already in position by 1H25. With this data point, it is more interesting now as clearly, BBs are controlling the share price, perhaps waiting to push up post spin or there may be still a rights issue which they do not want the rights price to be too high. In summary, BBs never run road so far. Let' s see what happen post spin off.
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If you want to get YZJM shares by buying YZJF shares, you have to do it by this Friday cos ex entitlement is on Monday, which mean any shares buy on Monday onward will not qualify for 1 for 1 YZJM shares. Bear in mind YZJF sure to drop because for illustration purpose, it is as if 50% of YZJF go into YZJM. Right now, the reference prices for YZJF is its NAV post spin, which stand at about $0.54 now. As for YZJM, its placement price is the reference point, which is $0.60. Therefore, on paper, the current YZJF share price should be $0.54 + $0.60 = $1.14 at least. However, market doesn' t work in this manner as many factors such as market sentiments, the potentials, the future prospects of the stocks etc also play a part. If the market work ' normally' , then YZJM should trade at least $0.60 for a start and YZJF should trade at $0.54 immediately post spin. But again, it doesn' t work that way. In a nutshell, if you buy today at $1.05, then post spin your break even is $1.05 at least with YZJF and YZJM shares combined. Do not expect YZJF to trade at current level post spin.
dexterderc ( Date: 05-Nov-2025 13:47) Posted:
TY HVRRVH.
IDK. Statistically speaking, even if maritime drop to 30c, as long as financial doesn't drop 30c, I won't lose money? Just saying. I noob. |
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You will get 1:1 as long as the purchase is made before end of market day on 9.11.25.
dexterderc ( Date: 05-Nov-2025 11:44) Posted:
| I have a very noob question to ask all the gurus here. If I were to make a purchase for this stock today using the poems platform, will I still get the 1:1 placement right shares for yzj maritime? TIA. |
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Pre spin off premium wiped out completely now. It is again undervalued but as I said, to accumulate more at $1 level is very difference from accumulating at $0.3 - $0.4 levels. This is market wide correction and worse may yet to come. Do stand by some cash to pick up not only YZJF and YZJM but other good stocks too if they become cheaper. Personally I would not fight the trend and will sit tight and do nothing. Post spin may prove to be good time to accumulate too if the market wide correction persists.
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Any idea what if shortists hold till pass XR? What' s the net effect on their positions?
pasttime ( Date: 03-Nov-2025 16:49) Posted:
prices come down from 1.2 to 1.02 level due to millions of shorts.
current price not moving maybe due to shorts doing damage control.
ie they place huge sell to block up. and cover along the way.
one see more buy up then sell down.
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Fair observation and insight. I think only hard cores are left now but it can be a good thing, less of speculative trades and traders generated usually bias news flow to suit their trades, be it up or down. Spin off more or less a done deal especially once XR on 10.11.25 and the share price is unlikely to move aggressively up or down. It is back to fundamentals and how the share prices for both entities fare in the future depend very much on their earnings and growth. To anchor this thesis, I am looking forward to at least a combined 4 cents dividends from YZJF and YZJM for this FY. I think this is a minimum both companes have to achieve to meet the market' s expectation.
pkli899 ( Date: 03-Nov-2025 16:32) Posted:
I would like to believe post spin off, both prices can fly.
However, looking at current price, unless next one, two weeks, we see good upwards movement,
market think value is there about only.
That is to say, post spin off, YZJF will be about 50c & YZJM about 60c.
Of course in the long run, prices will depend on their respective performance. |
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I am not sure historically how many times companies listed in SGX through introduction without any prior price references. YZJF was the only one I know. When YZJF spin off from YZJS, there was no price reference and first day trading the price open around $0.69 even thought the NAV was more than $1 at the material time. On the same day and for days and months to come, the price plunged to as low as $0.285 before the venturing of businesses into maritime sector and the upcoming spin off propelled the share price to as high as $1.24 recently. This time round I suspect SGX set conditions and among which could be demanding a reference price point for the spin off company before listing. I made my inference based on the fact that as early as when the spin off announcement was made, it was stated that there will be a private placement and subsequenlty, old Ren mentioned during the spin off EGM that in fact they don' t need any placement as they have enough cash but they do so as SGX' wanted some kind of participation from funds/institutions. I cannot remember the exact wordings by old Ren but something to that effect. To get a reference price point before listing, usually it will involved book building or private placement so in this case, YZJF secured private placement at $0.60 per share. I think SGX want a reference price to ensure more ordely first day trading. Just like Centurion reit and Colliwoo who got listed recently, both set their prices through IPO and since YZJ Maritime is by way of introduction, the next best thing to do is set price reference through placement. So far, all practical news with regard to spin off are out and the price is what it is and did not move much one way or the other. Personally there is nothing to do except wait for spin off finalisation. If the new YZJM price hold at the placement price of $0.6 or above, it will be consider a good start. As for the original YZJF, the NAV post spin off is about $0.54, we can set our own expectations accordingly.
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On theory we all know how does short works, but in practice, I think none of us know the details unless we are the big players in short. Our type of retails short, a few shares here and there and hope to cover within 2 days or so with monetary value of a few k or even 10 or 20k count for nothing compare to BBs type of short that worth millions if not ten of millions. It always puzzle me who has so many shares to sell to the shorts for them to cover? It appear that for every short trade, the shortist would need days if not months to cover back. The risk is too high if they do not already know before they short that they can cover back within their targeted price and days. I doubt every time they can meet their targets. As a practical case, we can self check how many of us sold any shares from the high of $1.24 to current level? If we do so, we have helped the shortists. Sure, some would have sold to lock in profit and there is nothing wrong and if so, the motivation behind the sale is not because of lack of confident in the prospect of the company but purely to take profits. Perhaps, there is also a need to recapitalise or even spend the money on other needs. On the other hand, long holders would focus on post spin off fundamentals. What we know is YZJF is profitable and post spin off, both companies will continue to be profitable and both have committed to 40% eps payout as dividends. If we have taken our original position in YZJF at the average cost of below $0.40, time is on our side as it is likely that both YZJF and YZJM should trade above this level post spin off. In the light of the spin off, both YZJF and YZJM shoud provide voluntary 3Q updates before end of November and I hope they do so.
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Indeed. 0.25% of the enlarged sharebase owing to the proposed placement that would raise about $5.2m with new shares of 8,638,000. A far cry from the initial mentioned $250m. Silent on rights issue, it may still happen though.
A few key points:
1) Placement price $0.60 per share
2) Provisional listing of YZJM - 18.11.25
3) Dividend policy - Maintain at 40% of EPS
4) Accounting currency for YZJM seems to be in USD, I don' t quite like it as USD is getting weaker by the day
5) NAV of about SGD$0.58 per shares
Management is telling the market that placement price is above NAV, not sure what will the effect be as the placement size is very small at 0.25% of the enlarged sharebase. That' s why I think there may still be a right issues especially if post listing the share price stay above $0.60. Soon have to open a new thread on YZJM as already, some seems to be confused that placement is to YZJF and concern of YZJF' s share price tanking. With YZJM aiming for open market price of at least $0.60 as can be seen from the placement price, nobody know what will be YZJF' s share price be on 18.11.25 if YZJM indeed list on that day as per announcement. Post spin off, YZJF' s NAV should be about SGD$0.54 so I guess we can set our expectations accordingly.
volvo125 ( Date: 31-Oct-2025 23:08) Posted:
| Seems like no more rights issue or the earlier indicated proposed share placement that could effect a 20% dilution. Good news to many i believe. I personally do not wish to see a huge share placement with a potential 20% dilution effect or a rights issue that require existing shareholders to stake out more money. |
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Let me try to answer my own question and also the point you raised, i.e., whether PP and or RI to be conducted before or after spin off. Apparently, it can be done before spin off via the process of book-building. Without the market price, the bookrunners will gauge the interest from institutional investors accreditated investors what price and how many shares they want. The price will probably derive from NAV and future business prospect .Now with ETL ready and YZJM shares created, things should move fast. Let' s see.
YibaoI ( Date: 30-Oct-2025 21:50) Posted:
Did Ren say consideration of right issue is before the spin off or after the spin off and sorely for YZJM?
If it is done after spin off i think will be better.
I personally rather not have any right issue before spin off as usually right issue will result in drop in price as it will dilute the price unless it is done together with good planning and timing not to mention investors confidence.
Also the problem with right issue for CPF long term investor like me who is not sure how to proceed and also rather not put in cash into CPF if possible, foresee possible some of the CPF investors might sell to avoid this right issue and price might come down. dyodd |
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Ok ETL received and YZJM shares in place to be distributed. A total of 3,480,450,420 shares to match existing outstanding YZJF' s shares. The distribution will be 1 YZJF share for 1 YZJM share. To date, the plan as indicated by the management is to conduct a private placement concurrence with the spin off. This is documented and published via SGXnet. Further, in the EGM, the management further indicated that they will consider to do a rights issue. To quote old Ren, the rights issue will be priced at attractive price and ratio to ' compensate' existing shareholders who hold YZJF' s shares post spin off, as it is expected that YZJF' s share price will drop post spin off. I am curious how to proceed with the private placement and rights issue ' concurrently' with the spin off since there will be no reference price for YZJM before it is listed. Therefore, it seems that YZJM will be listed first and the private placement and rights issue, if any, will be conducted at least some days after the spin off. Against this backdrop, we may see some price actions from now till finalisation of spin off. As of now, the only reference point of value for YZJM post spin off is the indicative NAV of about $0.57. If BBs want cheap private placement price, the current price would not move much on either directions. Let' s see.
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Xi and Trump had met and now Trump already flying back to Washginton. Market is not enthusiatic about the outcome and sound bites by both sides thus far. Personally I also think everything is still remain as talks. No signing of any deals and no concrete statements on easing of the tariffs, sanctions, port fees for Chinese ships etc. Meanwhile the spin off processes seems to have slowed down. Until now, there is no announcement of receving ETL or update on the spin off development by the management. If they are waiting and hoping for positive spin on the outcome of Xi Trump meeting now they can forget it. Why such a rush to convene EGM if after that a whole month there is nothing happen?
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Sold another half. Waiting to sell all the rest too when it reach $0.685, if reach lah. Having said so, it could shoot up once breaches $0.685 and if it is fast and furious, I may hold to see what they up to or capable of with the new CEO. Don' t like the management. At one time said JEM office is so secured with long term MND as tenant but right now already sold. Also the sponsor is the only one that keep selling their shares as compare to other sponsors. Also so called JEM acquistion to be dpu accretive and not really the case. Previous CEO sold a lot of his shares at $0.82.
HVRRVH ( Date: 29-Aug-2025 10:25) Posted:
I have taken the opportunity of the recent uptrend to cut some holding. Recently the manager/sponsor sold 15,000,000 shares. They just don' t like their own shares. I don' t even bother to calculate what' s their sale price per share anymore.
https://links.sgx.com/1.0.0/corporate-announcements/QJAIWC79YSVGXLHU/7e0f5bfcd8d9d41414e060ee15f82ec45369654dddaa663c55ba915ba8620d6e |
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May go above $0.75 soon. However, this stock is also illiquid so will not add at current level.
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Price actions showing obvious weakness, unlikely to see any improvement until China US finish their talk in late October and provided that the result of the talk is minimum neutral or positive. Currently could be in passive consolidation and spin off must be put on hold till the uncertaintiy is clear which should be into November now. If price drop below $1 it will test the resolve of long term holders, with conviction, it can be seen as opportunities to accumulate but when sentiment turn negative it would be hard to put more money into it. Having said so, some of us here are well trained having going through the seemingly forever $0.285 to $0.345 price period but to accumulate at $0.285 to $0.345 and at $1 is not the same. If want to hold post spin off, personally I think it is better to stand by some cash.
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Happy with the amount of shares in hands and the average cost. SingPost add 1 million service points also useless, nobody is posting mail anymore. As for parcel services, it has many competitions who mainly tie up with neighbourhood shops, pick boxes and even residential units as collection points. Not sure the extra 2500 services points would add any value to its business as it stands. Rather, SingPost' s value lie with its properties which can be realised if they want to call it a day or divest for capital gains and return fund to shareholders. To mitigate risk, personally won' t chase the price and would only add more if it comes below $0.4. If not, just wait for something to happen while collect dividends.
HVRRVH ( Date: 15-Oct-2025 14:23) Posted:
Gotten $0.405 on Monday, shifted $0.395 buy q to $0.375. Now in fightable position in term of average price per share. Today might jump in at $0.41 if finger itchy. See how.
HVRRVH ( Date: 10-Oct-2025 10:28) Posted:
| Still queuing at $0.405 and $0.395 after first bought at $0.46 and heavily average down at $0.415. Now average cost is about $0.425. On hindsight got in too early at $0.46 and wrong assessment that it will bottom at $0.425 to $0.435. Good thing did not go in one shot and have the option of average down. Into this for long haul and still think the price will come down to test below $0.4 unless new CEO is active and really has some ideas to turn the businesses around and prompt to keep the investing community updated. With NAV higher than market price, the risk is mitigated and the key is don' t buy anymore above $0.4. |
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Yes, and they have not announce anything with regard to it yet. Based on Centurion' s case, they announced receipt of ETL for their reit and in about a week time or 2 the reit was listed if I remember correctly. I think YZJF may now drag the spin off for as long as possible, given the US-China trade dispute and the 2 leaders are meeting in 2 weeks time. It would be unthinkable, not say it is impossible, that the spin off now cannot proceed as YZJF has scale big enough to be in the STI reserve list. Even if somehow the spin off is off, it does not change the inherent value of the stock which at current stand at $1.11 using NAV. Sure the price will correct big if spin off is not proceeding but it would not be the end of the day.
angsua3761 ( Date: 15-Oct-2025 10:09) Posted:
| just wondering is there an ETL( eligiblity to list) prior to spinoff from SGX forthcoming? |
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Gotten $0.405 on Monday, shifted $0.395 buy q to $0.375. Now in fightable position in term of average price per share. Today might jump in at $0.41 if finger itchy. See how.
HVRRVH ( Date: 10-Oct-2025 10:28) Posted:
Still queuing at $0.405 and $0.395 after first bought at $0.46 and heavily average down at $0.415. Now average cost is about $0.425. On hindsight got in too early at $0.46 and wrong assessment that it will bottom at $0.425 to $0.435. Good thing did not go in one shot and have the option of average down. Into this for long haul and still think the price will come down to test below $0.4 unless new CEO is active and really has some ideas to turn the businesses around and prompt to keep the investing community updated. With NAV higher than market price, the risk is mitigated and the key is don' t buy anymore above $0.4.
HVRRVH ( Date: 07-Oct-2025 16:31) Posted:
| Accumulated more at $0.415. Not to say this is a good potential stock because its value now lies solely on its NAV. However, most other stocks run up already and can average up ones also average up one liao so even though this sick post may still drop a bit but I am taking a chance. Huat if it go back up to at least $0.475. |
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I am surprised that it did not go under $1.1. May face further tests depending on how Sino-US geopolitical tensions pan out. Both sides are now targeting each other ships and ports, among others, granted that old Ren has been reiterating that there is no anticipated direct impact on YZJF/YZJM businesses, the negative feel in itself is enough to damper share price. Long term investors do nothing now is the best, in fact, personally I think that it would be good to be able to act if the price come down to too attractive a level.
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With spin off highly expected to be in early Nov 2025, I think the price actions from now till then is more or less over. The market has decided that a tad of premium above NAV, $1.11 vs $1.11 - $1.24 is all it is willing to give YZJF for now. The low end of $1.11 was seriously challenged on 29.9.25 but it withstood the test and bounced back at equal quick time. It has, however, never look able to cross $1.2 again since then. In the meantime, we have seen some activities in preparation for the past spin off YZJF, notably the $100m anchor investor and the Shanshan restructuring deal. The message that YZJF is strongly moving away from China DI cannot be clear enough. Personally I expect more news from now leading to the release of spin off introductory documents/prospectus. We should be able to see more information on businesses focus going forward post spin off for both YZJF and YZJM. While YZJM is well known to engage in maritime businesses and investment, it should shed more light on the direction of YZJF post spin off. Hope to read more news on private placement and or rights issue but I guess it has to come after finalisation of spin off and frankly, I don' t like it.
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