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06-Oct-2023 16:55

Advanced / Cash 35c nav 70c...share px only 23c...foc ??

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It is very odd that the volume increased and price dropped to 0.235 one day before the EGM. The volumes was low prior to it.

MD said he only made his final decision at the time of voting at the EGM .....

FrancisLim ( Date: 06-Oct-2023 16:08) Posted:

The MD suddenly has a dream... He changed his mind and voted NO.

The Exchange is a joke. Reminds me of another Co, Datapulse Technology where much had been written on the change of management and also the cos change of business plan.

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05-Oct-2023 14:03

Advanced / Cash 35c nav 70c...share px only 23c...foc ??

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I hope SGX will investigate the share transaction if the sellers are mainly concentrated on a few invidivual accounts.

If SGX found any wrongdoing, or breach and provide repriments then ... the affected shareholders might be able to group together to take legal action against the board of directions, and especially Dr Wong.

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05-Oct-2023 12:22

Advanced / Cash 35c nav 70c...share px only 23c...foc ??

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Dr Wong is a totally irresponsible director. When he decide to propose cash, he should have decided it will not be allocating this cash for any investment opportunity. Now, due to his irresponsible action, those bought at 0.24 is now trapped due to his action.

Joelton ( Date: 05-Oct-2023 10:38) Posted:

Advanced Holdings' MD voted against cash distribution plan as he is pondering another deal

Wong Kar King, managing director and controlling shareholder of Advanced Holdings BLZ 0.00% , voted against a capital reduction and cash distribution plan, as he was mulling a potential investment.

The proposed investment came about after the company' s board put forward the proposal and before the EGM was held on Sept 29.

Under the plan, each Advanced Holdings shareholder would receive a cash distribution of 23.2 cents, in a bid by the company to reduce its capital and account for the accumulated losses of more than $15 million as at Dec 31 2022 over the years.

Under this plan, Wong would personally receive $9.6 million, based on his stake of more than 41.4 million shares.

However, the proposal did not go through, with 81.01% of the shares voting against, outnumbering the 18.99% shares in favour.

At the EGM held on Sept 29, Wong apparently left halfway as " he was not feeling well" .

At a subsequent meeting with the rest of the board, Wong said he had " pondered hard" but chose " at the time of voting" at the EGM to vote against.

In response to queries put forth by SGX and investors' grouping SIAS, Advanced Holdings says that Wong " was made aware of certain business and / or investment opportunities and had preliminary discussions to explore these opportunities, which would require capital."

" Given the impending EGM date, Wong did not have the latitude to analyse and review such opportunities in full."

Therefore, Wong, believing that is in the " best interests" of Advanced Holdings to retain the capital until these opportunities can be fully reviewed by the board.

" Retaining the capital in the company would thus provide more options than proceeding with the cash distribution, which remains an option should there be no conclusive outcome on the other opportunities," the company states.

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04-Oct-2023 11:22

Advanced / Cash 35c nav 70c...share px only 23c...foc ??

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Hope SGX will demand a special audit on this. Recalled that SGX demanded this on another before .. And hope sgx will fully onvestigate the transaction as well. .

Joelton ( Date: 04-Oct-2023 11:04) Posted:

Sias seeks clarifications from Advanced Holdings after capital reduction exercise fails

Sias president David Gerald said the failed proposal came as a &ldquo shock&rdquo to shareholders.

SINGAPORE - Investors&rsquo watchdog Securities Investors Association (Singapore), or Sias, on Tuesday raised questions over why engineering firm Advanced Holdings&rsquo capital reduction exercise appears to have failed.

In an Aug 23 announcement signed by Advanced Holdings&rsquo managing director (MD) Wong Kar King, the company said it was proposing to undertake a capital reduction exercise to write off accumulated losses of the company amounting to $15.18 million as at Dec 31, 2022. It also proposed to return to shareholders the company&rsquo s surplus capital through a cash distribution of approximately 23.2 Singapore cents for each ordinary share.

However, the proposal did not succeed at the extraordinary general meeting (EGM) held on Sept 29 &ndash an outcome that Mr David Gerald, founder, president and chief executive of Sias, said came as a &ldquo shock&rdquo to shareholders.

Only 18.99 per cent of the votes were for the proposal.

&ldquo What has mystified shareholders is that the number of shares that voted against the proposal was 41,405,109 &ndash almost the exact number held by Dr Wong, which was 41,402,109 as disclosed on page 13 of the Sept 7 letter to shareholders,&rdquo said Mr Gerald.

&ldquo In other words, it appears to observers that your managing director initially proposed the capital reduction exercise, then changed his mind and voted against it,&rdquo he added.

Mr Gerald said Sias is hoping to clarify the situation on behalf of the company&rsquo s minority shareholders.

It is asking who proposed the capital reduction, and whether there was unanimous support within the ranks of the board and senior management, including Dr Wong.

It also asked about the nature of the working relationship between Dr Wong and the board, and if the board could provide shareholders an assessment of Dr Wong&rsquo s performance.

&ldquo A shareholder who attended the EGM has reported that the MD left in the middle of the meeting, and the chairman told those present that the reason for the MD&rsquo s departure was that &lsquo he was not feeling well&rsquo ,&rdquo Mr Gerald said.

Sias is asking if there are plans to conduct a special audit on the events surrounding the EGM and the apparent change of heart by the MD.

With the proposal having failed, Sias is also questioning how the company plans to accomplish its objectives.

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04-Oct-2023 10:12

Advanced / Cash 35c nav 70c...share px only 23c...foc ??

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Just write to sgx to pressure the investigation. The more the better... we cannot control the outcome, but we are entitled to voice out and demand an official reply from both the company and sgx. Those who bought above 0.235 are stuck due to their action. I hope sgx is able to investigate share transaction during this period...

cumzilla ( Date: 03-Oct-2023 22:47) Posted:

finally got report frin BT on this fiasco, halfway left meeting in case kena threw rotten eggs by the minority shareholders...

https://www.businesstimes.com.sg/companies-markets/sias-seeks-clarifications-advanced-holdings-after-capital-reduction-exercise

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02-Oct-2023 14:40

Advanced / Cash 35c nav 70c...share px only 23c...foc ??

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Retailers can write to sgx to request for their official reply if the actions taken by board if directors are within the regulation. If sgx suspects anything, I hope they will also investigate the recent transaction before the proposed resolution and after the announcement. If there is any negligence or reprimandation by SGX, the shareholders can take legal action against them. If sgx replied that there is no breach or manipulation, we will have to accept and move on. The retailers can do something by adding pressure fir sgx to conduct a review and give us an official reply.

Thi654321ABCDEF ( Date: 02-Oct-2023 12:33) Posted:

retailers cannot do anything , sgx also cannot do anything with EGM. Only if there is a corruption then

Thi654321ABCDEF ( Date: 02-Oct-2023 12:31) Posted:

no us

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02-Oct-2023 12:58

Advanced / Cash 35c nav 70c...share px only 23c...foc ??

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I just wrote in. Others, please write in too.

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02-Oct-2023 08:11

Advanced / Cash 35c nav 70c...share px only 23c...foc ??

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if he didn't want to distribute the cash, why will the board of directors even propose the cash distribution in the first place. If this was decided by other directors (minus Dr Wong) and other directors are aware that Dr Wong who disagree can vote down any resolution but still proceed to propose this.... I think something is not right here.

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02-Oct-2023 07:31

Advanced / Cash 35c nav 70c...share px only 23c...foc ??

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The board of directors ( including Dr Wong) proposed cash distribution... price shot up to 0.240 The board of directors (including Dr Wong) recommended shareholder to vote in favour.. price stay within 0.235 to.0.25 Dr Wong voted against the resolution ( I believe the price will drop drastically) When the cash resolution was proposed, if Dr Wong had already decided to vote against it from the beginning), the whole EGM is meaningless and useless as Dr Wong was able to stop the resolution it himself. Those affected, please write to sgx to push for investigation. Let's hope sgx will investigate and advise if this is legal...

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30-Sep-2023 22:25

Advanced / Cash 35c nav 70c...share px only 23c...foc ??

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Dr Wong holds around 41,402,109 shares. The number of shares that voted against the resolution was 41,405,109. It is highly likely that Dr Wong single handedly voted down the resolution. Why did the directors propose the cash distribution (with the knowledge that Dr Wong can vote down any resolution), recommends all shareholders to vote in favour of the resolution in the circular of 7 September) and then Dr Wong voted the whole resolution down?? It is natural for the share price to go to 0.235 to 0.25 range after the proposal... and this also cause new investor to buy at the range... Are there any negligent from the whole board of directors with regards to this whole episode? Anyone affected, please write in to SGX and CAD go demand an explanation

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30-Sep-2023 20:56

Advanced / Cash 35c nav 70c...share px only 23c...foc ??

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Just want to be sure before I write to sgx for investigation. Only 51,000,000 shares were voted (around 51% of total outstanding available shares). Did Dr Wong vote against the resolution as he owns less than 51% if I understand correct)?

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07-Jan-2022 10:47

Incredible / Worst Stock Ever?? INCREDIBLE??

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Death spiral debt will apply for convertible bond with conversion price that is based on the current market share price (or 90% of current market share price. Example of the conversion price for the " magnus convertible bond" is as below.

Conversion Price

- 90% of the average of the traded volume weighted average prices per Share for any three (3) consecutive Trading Days as selected by the relevant registered Noteholder during the 30 Trading Days immediately preceding the relevant conversion date on which Shares were traded on the SGX-ST.

They will push down the share price and issue new shares at 90% of that lower price.. After issuing with new shares, they will dump and the share price will push further down which allow them to get new share at that lower price ... and this process continue which will cause the spiral....

However, if you read the announcement for incredible, the conversion is fixed at 0.004. There is no point to keep pushing the share price if they are getting at a fixed conversion price of 0.004 as below. The death spiral doesn' t apply to Incredible convertible bond.

Conversion Price : S$0.004

The Conversion Price of S$0.004 represents a premium of 27.39% to the weighted average price of S$0.00314 for trades done on the SGX-ST for the full market day on 30 December 2021, being the last full market day on which the shares of the Company were traded prior to the signing of the Subscription Agreement on 31 December 2021.

This is not a buy/sell call. Just want to point out that death spiral doesn' t apply here.

JoelMiller ( Date: 07-Jan-2022 06:17) Posted:

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10-Jun-2021 09:48

SIA / SIA revived

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I don' t think the number of MCB will change. You will still have just 1000 MCB on 8 June 2030. Only the principle amount of the MCB will change from $1 to $1.697 due to the interest.

In summary, $1000 you invest in MCB will be converted to 350 SIA shares on 8 June 2030.

investor999 ( Date: 09-Jun-2021 21:08) Posted:

You calculate wrong.

1000 MCB 2021 will give you 1000 x 1.69797 = 1697 MCB 2021 on 8 June 2030.

With this 1697 ÷ 4.84 you get 350 SIA shares.

If SIA shares higher you make profits. Eg if SIA share is $7 then, you sell 350 shares you get $2450 - $1000 = $1450 for your $1000 investment over 9 years

lingua101 ( Date: 09-Jun-2021 17:08) Posted:

ok... so it means if I have 1000 MCB, it may become 206 SIA shares?

Is it really worth to subscribe

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07-Jun-2021 16:34

Aspen / Aspen

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After Honeywell, can you really trust their announcement anymore?

sutiono ( Date: 07-Jun-2021 16:25) Posted:

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07-Jun-2021 10:18

SIA / SIA revived

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Bro, You missed out the 3rd scenario. You can also buy the MCB rights and subscribe. Those who do so, their cost will be just $2.86.

$1000MCB -> 350 SIA after 10 yrs (cost of $2.857). Those without any SIA shares now can buy the MCB rights at $0.001. The cost will be $1001 -> 350 SIA shares. The cost will be $2.86 but will have to wait for 10yrs.

investor999 ( Date: 06-Jun-2021 18:19) Posted:

Dear Sparrow999:

I share your concern of the dilution.

Let' s assume there is 100,000 shares in total. 56,000 belongs to Temasek and to 44,000 others

The MCB will dilute these shares by adding 354875 shares to the 100000 shares
( 100,000 / 100 X 209 X 1.69797 = 354875 )
The total number of shares ( old + new) = 454875 shares

Let' s say the Market predict 4% take up rate by the " others" . The rest 96% goes to Temasek.
4% of 354875 new shares is 14195 shares 96% is 340680 shares
Temasek will now have 56,000 + 340680 = 396680 shares
Others will have 44,000 + 14195 = 58195 shares

At the time of MCB issue there are total 100,000 / 100 X 209 = 209000 MCB' s
If Temasek takes up 96%, it has to pay $200,640
Others who takes up 4% pays $8360

Let' s say the orignal shares were worth $5.
The cost price for Temasek is now ( 56,000 X $5 +$200,640) / 396680 = $1.21 per share
The cost price for " others" is now ( 44,000 X $5 + $8360 / 58195 = $3.92 per share

These additional shares are not tradable until 2030.
Temasek is the owner and has reduced its cost. It can buy back shares any price it wants.
So for the others with cost price $3.92 in 2030, not so bad right?

Sparrow999 ( Date: 06-Jun-2021 15:41) Posted:

The problem about mcb is not about the unit share price after it matured. Its the additional billions of news shares adding into the total volume of SIA shares is deadly.
Firstly, it will definitely dilute the mother share severely, i estimated it will dilute the mother share price at least by half
secondly, when there' s so much shares in the market how to push up its share price? It' s extremely difficult to push its price in future

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04-Jun-2021 13:17

SIA / SIA revived

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As below, if you sell $4.9 SIA and buy the MCB (which is equivalent as buying SIA at $2.857 as per explained below), u will already immediately makee $4.9 - $2.857 -> $2.043. Since u r buying $2.857, the difference of $2.043 will give u an immediate 70% difference (per year of 7%) -> $2.043/$2.857 x100%.

But, you won' t enjoy any div for next 10yrs (but i doubt SIA will give big div for many years to come), and can only sell after 10yrs when they convert the bond to shares. This is assuming they won' t redeem the bond which i doubt they will do that.

nngeeh ( Date: 01-Jun-2021 22:42) Posted:

To me, $1000 invested in MCB will become $1,697.97 in 10 yrs and will be converted to shares at $4.84 which you will get 350 SIA shares after 10 yrs.

In another word, $1000 you invest in MCB now, you will get 350 SIA shares after 10yrs. So, buying MCB is equivalent to buying the SIA shares at $1000 div by 350 -> $2.857 ... but u will only get the shares after 10yrs with no div.

If you are really a long term SIA investors, actually, if you sell the SIA shares at $5, and you buy the MCB instead, you are actually buying the SIA shares at $2.857. It' s like Sell $5, buy $2.857 .... but will only get the shares after 10 yrs. Judging from the current situation, i doubt SIA will be able to give huge div like in the past and i doubt they will redeem the bond.

My view....

investor999 ( Date: 01-Jun-2021 21:41) Posted:

Even with simple maths, I also know MCB cost $4.84 at a future price 9 years later.

So SIA issue an instrument that cost $4.84 in the future.

So the total share price cannot be $4 each piece correct? unless something bad happen the SIA.

How can I be so stupid

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01-Jun-2021 22:42

SIA / SIA revived

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investor999 ( Date: 01-Jun-2021 21:41) Posted:

TradeExpert ( Date: 01-Jun-2021 17:44) Posted:

$6 is on account that there is no more callings for MCB and situation/market do changes. Weeks back it was very close to $6. Anf if you are willing to park and long for at least 1 year or longer, $6 is achievable. It is an unfortunate event that SIA is calling for another MCB exercise which will be very dilutive to all existing shareholders particularly retail investors.

Short to mid term will see $4 and below.

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08-Feb-2021 10:51

Second Chance / good divident yield

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This does look Juicy. Even if you are just betting ... the most u will lose is just 0.002 .... but if you win, it could be multiple times .... it' s like Casino, but the risk/ reward is so much higher. Why still go Casino, this is even better.

Can' t imagine the reward if there is news regarding City Plaza .....

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03-Feb-2021 16:42

Yoma Strategic / YOMA

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The situation is bad ..... but still much much better than North Korea :)

uiop1223 ( Date: 03-Feb-2021 16:38) Posted:

Well... its fate. Born in wrong place. Same as citizens of North Korea. What to do?

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15-Jan-2021 09:27

Mapletree Log Tr / MapleTreeLog

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There was another batch (or similar ... not quite sure) that was listed on 2 Nov at the issue price of 2.027. I believe the price will go higher as this batched was issued at $2.207 and its quite a big batch (148,000 lots).

Further to the Acquisition Announcement and the announcement dated 2 November 2020 in relation to
the approval in-principle from the Singapore Exchange Securities Trading Limited (the &ldquo SGX-ST&rdquo ) for
the listing and quotation of the Consideration Units on the Main Board of the SGX-ST, Mapletree
Logistics Trust Management Ltd., in its capacity as manager of MLT (the " Manager" ), wishes to
announce that it has issued an aggregate of 148,001,965 Consideration Units today at an issue price
of S$2.027 per Unit.
The Consideration Units were listed and quoted on the Main Board of the SGX-ST with effect from 9.00
a.m. on 1 December 2020 (&ldquo Listing Date&rdquo ).

PerfectHarmony ( Date: 14-Jan-2021 23:35) Posted:

MAs (EMAs & SMAs) are telling you more, as they show you the average cost and the directions of the market.

Placement was done on $1.99.

nngeeh ( Date: 14-Jan-2021 14:23) Posted:

From Chart (any Chart expert, pls correct me if i am wrong), it does seem that $2 is the first support and 1.95 is the second support and 1.92 is the third support. As long as these supports are not broken, i am not worried.

The placement was done at 2.01 or 2.02 (i couldn' t remember) lately .... so .... i think it will go up north ...

My view .. DYO

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