ShareJunction - Member Posts

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Bought some to punt.

tankookoo ( Date: 05-May-2017 17:55) Posted:

he now holds 67.25%, total share 503,681,419.

look at market depth (market closed), the sell queue from 26.5 to 28 has a total of 650 lots...

Sell price Sell vol

26.5ct 290 shares

27ct 160 shares

27.5ct 100 shares

28 ct 100 shares

no sell vol after 28.

SmallSmall ( Date: 04-May-2017 20:46) Posted:

More purchases of mother shares by Mr Salleh.
194,800 @ $0.26 !
If he edges up the purchase price to $0.27, the warrants will double in price from current level :)

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Looks like another day of good harvest for the BB - scooping up shares with at least a net cash of $0.08/ share (with NAV of 0.10) at $0.07 once the sales of JP properties have been completed

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I believe the BB took the bad sentiment yesterday to accumulate as much as possible. The NAV is 0.1047, and after completion, the cash per share is 0.08 (with 0 debt if they use the proceed to pay off all the debt).

NAV is sometimes very subjective as the coy might not be able realised or liquidate the assets easily .... but if it is made up of cash ... that is very straightforward. if the company is cash rish ... the share price should be at least equal to the available cash.

There is also a potential that the coy might distribute some of these cash. The current price is really tempting .....

Lazada ( Date: 18-Apr-2017 14:50) Posted:

run today

looks like BB collected

nngeeh ( Date: 17-Apr-2017 17:35) Posted:

Interesting stock.

Once they have completed the sale, they will get back $80M. If you deduct the existing $40M debt .... they will be debt free with net cash of $40M ... which translate into around $0.08 per share ... and this doesn' t include their other assets. The current price is lower than the possible net cash that is coming in after the transaction. Weird.

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Interesting stock.

Once they have completed the sale, they will get back $80M. If you deduct the existing $40M debt .... they will be debt free with net cash of $40M ... which translate into around $0.08 per share ... and this doesn' t include their other assets. The current price is lower than the possible net cash that is coming in after the transaction. Weird.

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I don' t understand .... They disposed of 12 clinics for only $2M ... and then buy back 24 clinics after 7 years and $64M is gone.

Where did the $64M goes? Either they sold the 12 clinics too cheaply ... and buying back at a way too expensive price?

Sold 12 Clinics for $2M, and buy 24 clinics for $64M ???? Even if you consider inflation ... buying back the original 12 clinics at 2x ($4M) .... then 24 clincis should be only $8M.

Why not just buy back the original 12 clinics at say $4M ... and then ask HME to pay back $60M ?????

Did they do any formal valuation when they sell? They surely didn' t do any formal valuation for HME now... how did they derive at this valuation?

milohorlicks ( Date: 12-Apr-2017 12:19) Posted:

Agree with you on this.. doesn't make sense to vote on this issue when the Independent review is not completed. You going for e dialogue later? =) actually whether e HME acquisition goes through this time, may not be as consequential as it seems.. explain next time when more free

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I can' t make it to the dialogue but will either go or ask proxy to represent for the EGM. Even though my holding won' t make much of a difference .... will still vote if i feel this is wrong.

milohorlicks ( Date: 12-Apr-2017 12:19) Posted:

Agree with you on this.. doesn't make sense to vote on this issue when the Independent review is not completed. You going for e dialogue later? =) actually whether e HME acquisition goes through this time, may not be as consequential as it seems.. explain next time when more free

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Based on the circular, Healthway disposed HME (12 clinics) in 2010 to Mr Yeo for just $2M. So, HME is doesn' t belong to Healthway, yet, lent out $65M over 7 years to grow from 12 clinics to just 24 clinics. If acquisition is succesful, this outstanding loan will be accounted as " GOODWILL" .

Healthway just announced appointment of independent auditor to review the loan to HME yesterday. I really find it hard to understand why we are asked to vote for the acquisition before the completion and sharing of this review .... if the loan is suspicious ... who will vote to continue with the acquisition ...

According to the circular, the value of HME is $64M, and " No valuation was commissioned for HME" !!!! Who gave this valuation of $64M !!!! it is a loss making entity of approximately $126K. According to the circular (if i see it correctly), it doesn' t have any cash. Just Healthway, the directors already couldn' t generate any cash to pay doctors, clinic assistance, medicines.... now, they will have 2 mouths to feed after the acquisition!!!

I have many doubts

- If they intend to grow, why sell the 12 clinics for just $2M?

- They sell 12 clinics for $2M, and now say the 24 clinics are worth $64M !!!!!

- Did they conduct any due diligent to see if it is worth buying HME? Already having cash issue ... still want to buy a loss making entity with 0 cash? If surviving is already an issue ... and they proceed to buy without even doing a commissioned valuation?

I don' t think we should vote without having full details of the $65M loans that were made to HME !!!

milohorlicks ( Date: 11-Apr-2017 00:53) Posted:

Agree with you FULLY to vote against 1)$60M convertible notes
BUT disagree with regards to 2)Acquisition of HME

HME is essentially 24 HEALTHWAY clinics. Nothing dubious about it. These are REAL clinics in Singapore, including ones at Pasir Ris MRT, Punggol, Tampines, Yishun etc. It also includes some of the specialist clinics such as Cardiology, Psychiatry. Ourselves or our family members may have visited one of them. We will just know them as another Healthway clinic.

1 Healthway Diagnostic Centre 2 Healthway Japanese Dental 3 Healthway Japanese Medical Centre - The Centrepoint 4 Healthway Medical Clinic - Bedok South 5 Healthway Medical Clinic - Clementi Avenue 3 6 Healthway Medical Clinic - Holland Drive 7 Healthway Medical Clinic - Pasir Ris MRT Station 8 Healthway Medical Clinic - Punggol Place 9 Healthway Medical Clinic - Tampines Central 1 10 Healthway Medical Clinic - Tampines Street 21 11 Healthway Medical Clinic - Toa Payoh Lorong 6 12 Healthway Medical Clinic - Towner Road 13 Healthway Medical Clinic - Westgate 14 Healthway Medical Clinic - Yishun Avenue 5 15 Healthway Screening & Wellness Centre - The Centrepoint 16 Neuglow Dental - The Centrepoint 17 Neuglow The Aesthetics Doctors - Novena Medical Centre 18 Nobel Chest & Internal Medicine Centre - Mount Alvernia Medical Centre 19 Nobel ENT, Head, Neck & Thyroid Surgery Centre - Mount Alvernia Hospital 20 Nobel Eye & Vision Centre - Mount Alvernia Hospital 21 Nobel Heart Centre - Mount Alvernia Hospital 22 Nobel Psychological Wellness Clinic - Ang Mo Kio Avenue 10 23 Nobel Psychological Wellness Clinic - Novena Medical Centre 24 Nobel Surgery Centre - Mount Alvernia Medical Centre

Quote " HME was incorporated on 12 February 2000 as a wholly-owned indirect subsidiary of the Company." The split occured in 2010.

My own personal take on the split: It is abit of " CREATIVE" accounting.
You may noticed that from 2010, HME has increased clinics from 12 to 24 over about 6 years This is fairly aggressive expansion, about 2 new clinics every year.

New clinics will initially posts losses, til they break even and then turn profitable. For those more familiar with clinic business, some doctors / clinic owners quote 2-3years of monthly losses & no salary before starting to break even. With the spinning off HME, the initial period of losses will NOT be reflected on the P/L of HMC as losses, instead it will be reflected as " LOANS" to HME. Hence, making the accounts look " nicer" . Of course, those initial losses are REAL (clinic rents / staff salary / drug inventory all needs to get paid). Hence the subsequent need to " write off" the " LOAN" .

Hence the comment about " HMC is operating like charity... lending out and writing off as impairment" is incorrect abt HME (haha, hard to say abt the China coy though =p)

There is NO CHARITY involved at all here, as HME is essentially part of HMC. People dun say that the body " loans" nutrients to the " legs" to grow.

cheers, late late, continue the post another day..

nngeeh ( Date: 10-Apr-2017 20:56) Posted:

Just received the circular pertaining to (1) Proposed issue of $60M convertible notes and (2) Acquisition of HME. If approved the acquisition of HME, the $65M loan, HMC will not need to recover this loan.

I will vote against both resolutions.... HMC is supposed to recover back this $65M from HME.

Just read the circular...HMC had made an impairment of $3M and $15M on the a,omits owing by HME to the group in 2015 & 2016. HMC is operating like charity... lending out and writing off as impairment... crazy...

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countersIf HMC needs to resort to borrowing at 16.5% to survive.... I don' t see much prospect if the current board keep running this coy.

In order to complete the purchase, they need fund.... If Lippo and SGX didn' t come into the picture and stopped this loan which resulting in a better loan term from GW....they will keep draining funds and borrowing with high interest or keep issuing shares that resulting in serious dilution. Therefore...if resolution 2 is approved... and not resolution 1..how are they going to fund the acquisition? probably issuing the dreadful rights and get money from shareholders... and then... with poor money management... can' t imagine what will happen to our fund

This is poor money management.... I don' t have the details... but if they can loan out more than $65M and end up needing to borrow at 16.5%... it' s really poor management... whether it Creative accounting or not... it' s just bad for the shareholders. Just look at other medical counters- HMI, SingMedical, O& G... how high is their current share valuation... comparing with Healthway...

This doesn' t include the loan between the Father and Daughter company. When are they going to start the independent review of these loans which is instructed by SGX? I think the voting of the second resolution should be done after they release the Loan review to HME... and inform us of their plan to get that funding if resolution 1 is shot down. If this board keep running the show... I will move on to other counters..

milohorlicks ( Date: 11-Apr-2017 00:53) Posted:

Agree with you FULLY to vote against 1)$60M convertible notes
BUT disagree with regards to 2)Acquisition of HME

HME is essentially 24 HEALTHWAY clinics. Nothing dubious about it. These are REAL clinics in Singapore, including ones at Pasir Ris MRT, Punggol, Tampines, Yishun etc. It also includes some of the specialist clinics such as Cardiology, Psychiatry. Ourselves or our family members may have visited one of them. We will just know them as another Healthway clinic.

1 Healthway Diagnostic Centre 2 Healthway Japanese Dental 3 Healthway Japanese Medical Centre - The Centrepoint 4 Healthway Medical Clinic - Bedok South 5 Healthway Medical Clinic - Clementi Avenue 3 6 Healthway Medical Clinic - Holland Drive 7 Healthway Medical Clinic - Pasir Ris MRT Station 8 Healthway Medical Clinic - Punggol Place 9 Healthway Medical Clinic - Tampines Central 1 10 Healthway Medical Clinic - Tampines Street 21 11 Healthway Medical Clinic - Toa Payoh Lorong 6 12 Healthway Medical Clinic - Towner Road 13 Healthway Medical Clinic - Westgate 14 Healthway Medical Clinic - Yishun Avenue 5 15 Healthway Screening & Wellness Centre - The Centrepoint 16 Neuglow Dental - The Centrepoint 17 Neuglow The Aesthetics Doctors - Novena Medical Centre 18 Nobel Chest & Internal Medicine Centre - Mount Alvernia Medical Centre 19 Nobel ENT, Head, Neck & Thyroid Surgery Centre - Mount Alvernia Hospital 20 Nobel Eye & Vision Centre - Mount Alvernia Hospital 21 Nobel Heart Centre - Mount Alvernia Hospital 22 Nobel Psychological Wellness Clinic - Ang Mo Kio Avenue 10 23 Nobel Psychological Wellness Clinic - Novena Medical Centre 24 Nobel Surgery Centre - Mount Alvernia Medical Centre

Quote " HME was incorporated on 12 February 2000 as a wholly-owned indirect subsidiary of the Company." The split occured in 2010.

My own personal take on the split: It is abit of " CREATIVE" accounting.
You may noticed that from 2010, HME has increased clinics from 12 to 24 over about 6 years This is fairly aggressive expansion, about 2 new clinics every year.

New clinics will initially posts losses, til they break even and then turn profitable. For those more familiar with clinic business, some doctors / clinic owners quote 2-3years of monthly losses & no salary before starting to break even. With the spinning off HME, the initial period of losses will NOT be reflected on the P/L of HMC as losses, instead it will be reflected as " LOANS" to HME. Hence, making the accounts look " nicer" . Of course, those initial losses are REAL (clinic rents / staff salary / drug inventory all needs to get paid). Hence the subsequent need to " write off" the " LOAN" .

Hence the comment about " HMC is operating like charity... lending out and writing off as impairment" is incorrect abt HME (haha, hard to say abt the China coy though =p)

There is NO CHARITY involved at all here, as HME is essentially part of HMC. People dun say that the body " loans" nutrients to the " legs" to grow.

cheers, late late, continue the post another day..

nngeeh ( Date: 10-Apr-2017 20:56) Posted:

Just received the circular pertaining to (1) Proposed issue of $60M convertible notes and (2) Acquisition of HME. If approved the acquisition of HME, the $65M loan, HMC will not need to recover this loan.

I will vote against both resolutions.... HMC is supposed to recover back this $65M from HME.

Just read the circular...HMC had made an impairment of $3M and $15M on the a,omits owing by HME to the group in 2015 & 2016. HMC is operating like charity... lending out and writing off as impairment... crazy...

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In the circular, it repeatedly stating that " Healthway will continue to face liquidity pressure without the $60M and may not be able to continue as a going concern" .

If HMC keep doing charity by lending out huge loan and writing it of as impairment... even if they raised $600M... it won' t be enough. Why it is focusing on getting fund to survive and not improving the business model to be profitable?... Already not able to survive... still proposing to buy more. Why not just sue to get the $65M back?

Just realised that none of the directors own any Healthway shares.... any decision made will not impact their wealth... this just show their trust in Healthway.

I just hope these 2 resolutions are shot down... and replace the whole board with a team that focus on improving the business to survive.... and not keep looking for fund to survive.

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Just received the circular pertaining to (1) Proposed issue of $60M convertible notes and (2) Acquisition of HME. If approved the acquisition of HME, the $65M loan, HMC will not need to recover this loan.

I will vote against both resolutions.... HMC is supposed to recover back this $65M from HME.

Just read the circular...HMC had made an impairment of $3M and $15M on the a,omits owing by HME to the group in 2015 & 2016. HMC is operating like charity... lending out and writing off as impairment... crazy...

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You called GW a white knight?

Based on the original loan agreement before SGX stepped in.... Healthway will need to pay gateway interest of 12 per cent per annum on the loan for the first three months and 16.5 per cent per annum thereafter or letting the lender convert the loan amount into shares that would result in a severe dilution. This includes appointment of top management, two board seats and veto power over major transactions which gives them full control of the company.

I' m not sure if Lippo will definitely bring value to Healthway, but i' m definitely trust them more over Gateway that intends to charge 16.5% interest, or the current boards that agreed to such crazy loan deals.

You seems to favour gateway over Lippo and are more critical of Lippo ... but not gateway....why?

teeth53 ( Date: 30-Mar-2017 08:53) Posted:

I will be very frank. Both knight will fail...:(

Alvin2042 ( Date: 30-Mar-2017 08:36) Posted:

The EGM will be exciting. Any proposal to replace the mgt... lippo should forward this as the largest shareholder, and replace with their team

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Hi Bro,

Why do you state that buying any price higher than 0.042 will sure lose money? If Lippo getting higher than 50% ... meaning they will be the controlling shareholder, but that doesn' t mean it' ll be delisted. They will need to acquire above 90% for delisting. If they are able to bring value and stability to HW ... it' ll be good for long term shareholders, right?

newbieinvestor ( Date: 28-Mar-2017 09:54) Posted:

Accordingly, as at 5.00 p.m. (Singapore time) on 27 March 2017, the total number of (a) Shares owned, controlled or agreed to be acquired by the Offeror and parties acting or presumed to be acting in concert with it and (b) valid acceptances to the Offer, amount to an aggregate of 772,817,408 Shares, representing approximately 31.41% of the total number of issued Shares and 28.04% of the maximum potential issued share capital of the Company.

RHBSEC wishes to announce, for and on behalf of the Offeror, that the Closing Date of the Offer is extended from 5.30 p.m. (Singapore time) on 28 March 2017 to 5.30 p.m. (Singapore time) on 2 May 2017 or such later date(s) as may be announced from time to time by or on behalf of the Offeror.

buy share higher than 4.2 cent sure lose money liao. lippo now got 31.41%. he buy the 17% from bankrupt Fan he got 48.41%. he extend offer to 2 May i think can reach higher than 50%.

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I mean why are you encouraging others to sell their shares to Lippo? Are Yiu selling?

nngeeh ( Date: 19-Mar-2017 11:07) Posted:

Why are encouraging to sell to Lippo? I didn' t say I wanted to offload... in fact.. I am happy that Lippo is in the picture.

teeth53 ( Date: 19-Mar-2017 10:03) Posted:

You better sell yours to Lippo. Have you done that in the green form?

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Why are encouraging to sell to Lippo? I didn' t say I wanted to offload... in fact.. I am happy that Lippo is in the picture.

teeth53 ( Date: 19-Mar-2017 10:03) Posted:

You better sell yours to Lippo. Have you done that in the green form?.

nngeeh ( Date: 19-Mar-2017 08:36) Posted:

Lippo group is serious about taking over and extending 10million to HMC with just 5% interest. No reason to reject if they compare with the loan shark type of loan provided by gateway... the risk has been reduced.

Indonesia' s Lippo Group, which has built a 21.9 per cent stake in Healthway Medical Corp (HMC), is offering a lifeline $10 million loan to the troubled clinic chain operator.

But the money can be used only to pay HMC doctors and nurses, The Sunday Times understands.

Lippo' s loan is repayable after 12 months interest is only 5 per cent a year. In comparison, the cash-strapped HMC has had to borrow at usurious rates working out to as much as 65.7 per cent a year - based on a recent disclosure to the Singapore Exchange (SGX) - for much less than $10 million.

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If HWC can pull through this financial difficulty period... and stopped HMC from issuing huge shares to gateway which will dilute the value of the existing shares and stopped from buying lousy HME to write off the loans to them... and kick out the current directors... we will see a much stronger HWC

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Lippo group is serious about taking over and extending 10million to HMC with just 5% interest. No reason to reject if they compare with the loan shark type of loan provided by gateway... the risk has been reduced.

Indonesia' s Lippo Group, which has built a 21.9 per cent stake in Healthway Medical Corp (HMC), is offering a lifeline $10 million loan to the troubled clinic chain operator.

But the money can be used only to pay HMC doctors and nurses, The Sunday Times understands.

Lippo' s loan is repayable after 12 months interest is only 5 per cent a year. In comparison, the cash-strapped HMC has had to borrow at usurious rates working out to as much as 65.7 per cent a year - based on a recent disclosure to the Singapore Exchange (SGX) - for much less than $10 million.

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Surpisingly, the USD didn' t go up after rate hike. If USD didn' t go up, the commodity price will either stablise or could even go up after the drop before the rate hike. Golden Argi dropped from 0.43 level before rate hike to the current level. Will it rebound back above 0.4 since the USD didn' t go up?

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Lippo purchased only 6337k today but the total transaction is 72000k. Who else is trying to scope up the shares?

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If it is shown that Lippo bought higher than 42 .... no one will accept 42 and it' ll show Lippo is willing to pay more than 42.

If they acquire till 30% at higher price, it' ll trigger the mandatory takeover at higher price. Judging from this volume.... the interest for Healthway is still very healthy even though of the current financial situation that they are in now.

teeth53 ( Date: 15-Mar-2017 17:06) Posted:

If it not from Lippo, miight be other BBs is showing their displeasure by buying up to trade at higher px.

nngeeh ( Date: 15-Mar-2017 16:40) Posted:

Could Lippo trying to get enough shares to vote down the loan arrangement with Gateway?

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Could Lippo trying to get enough shares to vote down the loan arrangement with Gateway?