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SembCorp Marine- The new Frontier.
chart_expert123
Master
23-Oct-2021 08:59     
 
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Yells: "Only buy stock with revenue or net cash flow growth!!!!"
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 Alert Admin 		Bear in mind, when company or personal will be sued for bankruptcy and move into winding up?

When no cash to pay interest, installment, payment and etc and gonna sued for bankruptcy filing.

At the moment bankruptcy protection filing is when listed company gone case.

So look at revenue and profit, share price will only grow according to these 2 grow only as simple as that.

chart_expert123      ( Date: 23-Oct-2021 08:44) Posted:

All these NAV all bloated. Especially all these listed companies listed many years where their assets were valued at best year and never revalue at worst year now. When come to winding up assets for paying debts, most of the time cannot even pay bond holders, shareholders or equity holders are last to pay always get zero.

For example, We all know shipyards in singapore are in lease hold. Sembmar shipyard in sembawang going to expire and gov have no intention to extend. The assets never reflect.

What worst is we always can see intangle assets are recorded which cannot sell at all, once company cease business, intangible assets are zero value.

It is most stupid way to value a company based on NAV, especially you look at best performance companies like amazon, tesla, Facebook and etc, their NAV all started at very low or even negative.

We are equity holders or shareholders shall only look at revenue and profit growth.

Debt, assets and equity value are monitored by bond holders or debt holders to worry how much will be returned to their borrowing money if company winding up.

vicloo      ( Date: 23-Oct-2021 08:33) Posted:

How she get the Projected NAV 12c....only accountant know how much is actual NAV... SEE hyflux... Suddenly busted... Before Bond default that NAV also very high.
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ckmpd1
Supreme
23-Oct-2021 08:49     
 
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 Alert Admin 		revenue, expenditure, goodwill, intangible assets, profits are more important to us than to quote what one analyst writes

chart_expert123      ( Date: 23-Oct-2021 08:44) Posted:

All these NAV all bloated. Especially all these listed companies listed many years where their assets were valued at best year and never revalue at worst year now. When come to winding up assets for paying debts, most of the time cannot even pay bond holders, shareholders or equity holders are last to pay always get zero.

For example, We all know shipyards in singapore are in lease hold. Sembmar shipyard in sembawang going to expire and gov have no intention to extend. The assets never reflect.

What worst is we always can see intangle assets are recorded which cannot sell at all, once company cease business, intangible assets are zero value.

It is most stupid way to value a company based on NAV, especially you look at best performance companies like amazon, tesla, Facebook and etc, their NAV all started at very low or even negative.

We are equity holders or shareholders shall only look at revenue and profit growth.

Debt, assets and equity value are monitored by bond holders or debt holders to worry how much will be returned to their borrowing money if company winding up.

vicloo      ( Date: 23-Oct-2021 08:33) Posted:

How she get the Projected NAV 12c....only accountant know how much is actual NAV... SEE hyflux... Suddenly busted... Before Bond default that NAV also very high.
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ckmpd1
Supreme
23-Oct-2021 08:47     
 
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 Alert Admin 		Yes

yesyesyes

chart_expert123      ( Date: 23-Oct-2021 08:44) Posted:

All these NAV all bloated. Especially all these listed companies listed many years where their assets were valued at best year and never revalue at worst year now. When come to winding up assets for paying debts, most of the time cannot even pay bond holders, shareholders or equity holders are last to pay always get zero.

For example, We all know shipyards in singapore are in lease hold. Sembmar shipyard in sembawang going to expire and gov have no intention to extend. The assets never reflect.

What worst is we always can see intangle assets are recorded which cannot sell at all, once company cease business, intangible assets are zero value.

It is most stupid way to value a company based on NAV, especially you look at best performance companies like amazon, tesla, Facebook and etc, their NAV all started at very low or even negative.

We are equity holders or shareholders shall only look at revenue and profit growth.

Debt, assets and equity value are monitored by bond holders or debt holders to worry how much will be returned to their borrowing money if company winding up.

vicloo      ( Date: 23-Oct-2021 08:33) Posted:

How she get the Projected NAV 12c....only accountant know how much is actual NAV... SEE hyflux... Suddenly busted... Before Bond default that NAV also very high.
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ckmpd1
Supreme
23-Oct-2021 08:45     
 
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 Alert Admin 		Good pointyes

Best is to do own analysis and not believe such people

vicloo      ( Date: 23-Oct-2021 08:33) Posted:

How she get the Projected NAV 12c....only accountant know how much is actual NAV... SEE hyflux... Suddenly busted... Before Bond default that NAV also very high.

ckmpd1      ( Date: 23-Oct-2021 07:17) Posted:

Well said, uiop1223.  Many analysts are paid to write and they write with vested interests.

It is wise not to believe analysts and forumners.    Educate ourselves.  Learn financial analysis, investment analysis.  Know the markets and know the industry.

Do own analysis and invest based on own calculations.  Dont invest our monies based on what others say
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chart_expert123
Master
23-Oct-2021 08:44     
 
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Yells: "Only buy stock with revenue or net cash flow growth!!!!"
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 Alert Admin 		All these NAV all bloated. Especially all these listed companies listed many years where their assets were valued at best year and never revalue at worst year now. When come to winding up assets for paying debts, most of the time cannot even pay bond holders, shareholders or equity holders are last to pay always get zero.

For example, We all know shipyards in singapore are in lease hold. Sembmar shipyard in sembawang going to expire and gov have no intention to extend. The assets never reflect.

What worst is we always can see intangle assets are recorded which cannot sell at all, once company cease business, intangible assets are zero value.

It is most stupid way to value a company based on NAV, especially you look at best performance companies like amazon, tesla, Facebook and etc, their NAV all started at very low or even negative.

We are equity holders or shareholders shall only look at revenue and profit growth.

Debt, assets and equity value are monitored by bond holders or debt holders to worry how much will be returned to their borrowing money if company winding up.

vicloo      ( Date: 23-Oct-2021 08:33) Posted:

How she get the Projected NAV 12c....only accountant know how much is actual NAV... SEE hyflux... Suddenly busted... Before Bond default that NAV also very high.

ckmpd1      ( Date: 23-Oct-2021 07:17) Posted:

Well said, uiop1223.  Many analysts are paid to write and they write with vested interests.

It is wise not to believe analysts and forumners.    Educate ourselves.  Learn financial analysis, investment analysis.  Know the markets and know the industry.

Do own analysis and invest based on own calculations.  Dont invest our monies based on what others say
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vicloo
Supreme
23-Oct-2021 08:33     
 
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 Alert Admin 		How she get the Projected NAV 12c....only accountant know how much is actual NAV... SEE hyflux... Suddenly busted... Before Bond default that NAV also very high.

ckmpd1      ( Date: 23-Oct-2021 07:17) Posted:

Well said, uiop1223.  Many analysts are paid to write and they write with vested interests.

It is wise not to believe analysts and forumners.    Educate ourselves.  Learn financial analysis, investment analysis.  Know the markets and know the industry.

Do own analysis and invest based on own calculations.  Dont invest our monies based on what others say.

uiop1223      ( Date: 23-Oct-2021 07:02) Posted:

Nonsense la. Analysts on yzj keep saying the price shld be around $2. Whats the price of yzj? They can say all they want since they are paid to give report
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ckmpd1
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23-Oct-2021 07:17     
 
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 Alert Admin 		Well said, uiop1223.  Many analysts are paid to write and they write with vested interests.

It is wise not to believe analysts and forumners.    Educate ourselves.  Learn financial analysis, investment analysis.  Know the markets and know the industry.

Do own analysis and invest based on own calculations.  Dont invest our monies based on what others say.

uiop1223      ( Date: 23-Oct-2021 07:02) Posted:

Nonsense la. Analysts on yzj keep saying the price shld be around $2. Whats the price of yzj? They can say all they want since they are paid to give report.

better      ( Date: 22-Oct-2021 20:22) Posted:

Well said. Brilliantly put!    yes

The profile of the independent advisor for Temasek offer:

MS WONG BEE ENG

Ms Wong is the Chief Executive Officer and Executive Director of Provenance Capital. She has been leading the firm since joining the firm in February 2007, re-building the firm to become one of the leading corporate finance advisory firms for SGX-ST listed companies.

Ms Wong has more than 35 years of experience in investment banking with a primary focus on corporate finance advisory services. She had spent 9 years in international foreign investment banks, 11 years in local banks, and more than 15 years as Chief Executive Officer and Executive Director in boutique corporate finance firms.  Ms Wong was the co-founder, CEO and Director of SAC Capital Private Limited for 2½ years before joining Provenance Capital in Febuary 2007. Before embarking on the banking industry, she had worked as an auditor briefly with Price Waterhouse.

Ms Wong holds a Bachelor degree in Accountancy (Honours) with the National University of Singapore and a Master' s degree in Business Administration with the University of Michigan, Ann Arbor, USA.

Ms Wong is a Chartered Accountant of Singapore, a Chartered Valuer and Appraiser and a Fellow of the Singapore Institute of Directors.


" Taking into consideration the above, overall, on balance, we are of the view that for the purposes of the Offer,  our estimated value range of the Shares is between S$0.125 and S$0.14, based on the mean and median P/NAV ratios of the Comparable Companies of 1.1 times, and the estimated projected NAV per Share of S$0.1246 as at 31 December 2021 which takes into consideration the recently completed Rights Issue and the expected losses for 2H2021. Hence, we are of the opinion that the Offer Price of S$0.08 is not fair and not reasonable,  as it is below our estimated value range of the Shares.

OUR RECOMMENDATION TO THE INDEPENDENT DIRECTORS ON THE OFFER In arriving at our recommendation in respect of the Offer, we have taken into account, reviewed and deliberated on the following key considerations which we considered to be pertinent in our assessment of the Offer: (a) Market price performance of the Shares (b) Financial analysis of the Group (c) Comparison with precedent takeover overs of selected SGX-ST listed companies (d) Comparison of valuation statistics of selected listed companies which are broadly comparable with the Group (e) Estimated value range of the Shares (f) Dividend track record of the Company and (g) Other relevant considerations.

Based on our analysis and after having considered carefully the information available to us as at the Latest Practicable Date, overall, we are of the view that the financial terms of the Offer are not fair and not reasonable.  Accordingly, we advise the Independent Directors to recommend Shareholders to REJECT the Offer."


But I am sure many forumers here know better and have far better insights as to how much SCM is worth.
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uiop1223
Supreme
23-Oct-2021 07:02     
 
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 Alert Admin 		Nonsense la. Analysts on yzj keep saying the price shld be around $2. Whats the price of yzj? They can say all they want since they are paid to give report.

better      ( Date: 22-Oct-2021 20:22) Posted:

Well said. Brilliantly put!    yes

The profile of the independent advisor for Temasek offer:

MS WONG BEE ENG

Ms Wong is the Chief Executive Officer and Executive Director of Provenance Capital. She has been leading the firm since joining the firm in February 2007, re-building the firm to become one of the leading corporate finance advisory firms for SGX-ST listed companies.

Ms Wong has more than 35 years of experience in investment banking with a primary focus on corporate finance advisory services. She had spent 9 years in international foreign investment banks, 11 years in local banks, and more than 15 years as Chief Executive Officer and Executive Director in boutique corporate finance firms.  Ms Wong was the co-founder, CEO and Director of SAC Capital Private Limited for 2½ years before joining Provenance Capital in Febuary 2007. Before embarking on the banking industry, she had worked as an auditor briefly with Price Waterhouse.

Ms Wong holds a Bachelor degree in Accountancy (Honours) with the National University of Singapore and a Master' s degree in Business Administration with the University of Michigan, Ann Arbor, USA.

Ms Wong is a Chartered Accountant of Singapore, a Chartered Valuer and Appraiser and a Fellow of the Singapore Institute of Directors.


" Taking into consideration the above, overall, on balance, we are of the view that for the purposes of the Offer,  our estimated value range of the Shares is between S$0.125 and S$0.14, based on the mean and median P/NAV ratios of the Comparable Companies of 1.1 times, and the estimated projected NAV per Share of S$0.1246 as at 31 December 2021 which takes into consideration the recently completed Rights Issue and the expected losses for 2H2021. Hence, we are of the opinion that the Offer Price of S$0.08 is not fair and not reasonable,  as it is below our estimated value range of the Shares.

OUR RECOMMENDATION TO THE INDEPENDENT DIRECTORS ON THE OFFER In arriving at our recommendation in respect of the Offer, we have taken into account, reviewed and deliberated on the following key considerations which we considered to be pertinent in our assessment of the Offer: (a) Market price performance of the Shares (b) Financial analysis of the Group (c) Comparison with precedent takeover overs of selected SGX-ST listed companies (d) Comparison of valuation statistics of selected listed companies which are broadly comparable with the Group (e) Estimated value range of the Shares (f) Dividend track record of the Company and (g) Other relevant considerations.

Based on our analysis and after having considered carefully the information available to us as at the Latest Practicable Date, overall, we are of the view that the financial terms of the Offer are not fair and not reasonable.  Accordingly, we advise the Independent Directors to recommend Shareholders to REJECT the Offer."


But I am sure many forumers here know better and have far better insights as to how much SCM is worth.

stanleytay      ( Date: 22-Oct-2021 19:44) Posted:

Yes.. one guy called ckmpd who keep saying smm will go 0.3 cos its under TH. Then another one Uiop, keep saying SIA will go bankrupt after rights issue. After that SIA went up to $5, he move over to smm. Is my memory good? If you want to hear more, mrwise. The one who keep shouting buy 4days ago said SIA will go to $3 after rights. All these people now all gather in smm thread like some gathering. How is this not a buy signal
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ckmpd1
Supreme
23-Oct-2021 06:59     
 
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 Alert Admin 		That is one possibilty.  But hopefully KC demands cash rather than SMM shares

uiop1223      ( Date: 23-Oct-2021 06:55) Posted:

Issue more new shares to keppel sh lor. Another massive dilution coming

andysim83      ( Date: 22-Oct-2021 20:36) Posted:

lol if merger with keppel..where got $500m to give them....now left 1 billions deduct off $650m for 2H left only 350m....go where dig 500m for keppel S
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ckmpd1
Supreme
23-Oct-2021 06:57     
 
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 Alert Admin 		RI 2021 has given SMM some room to manoeuvre until Mar 2022.  But a company making losses cant hide its dire condition forever. 

7ocean      ( Date: 22-Oct-2021 20:39) Posted:

Junk counter.. 0.002

Starship      ( Date: 22-Oct-2021 20:37) Posted:

Maybe TM has no intention to take private in the first place so this IFA Report fits the narrative. 
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uiop1223
Supreme
23-Oct-2021 06:55     
 
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 Alert Admin 		Issue more new shares to keppel sh lor. Another massive dilution coming

andysim83      ( Date: 22-Oct-2021 20:36) Posted:

lol if merger with keppel..where got $500m to give them....now left 1 billions deduct off $650m for 2H left only 350m....go where dig 500m for keppel SH

ttbanthony      ( Date: 22-Oct-2021 20:33) Posted:

I don see any funding needs. Rights issue sufficient to cater for entire 2022 even under assumption of no inbound cashflow.

The risk is share consolidation not that of rights issue for now. TH likely to garner more shares now that 79/80. They will probably cross 50% and may have another round of GO. Their intention of maintaining listing status is not absolute. If condition is not favourable, anything can happen.

IFA recommended 0.08 is unfair and unreasonable and propose IDs to recommend shareholders to reject the deal. This probably needs some updating.





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ckmpd1
Supreme
23-Oct-2021 06:53     
 
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 Alert Admin 		SMM gets a temporary reprieve.  The truth will be out in a few months time.   

7ocean      ( Date: 22-Oct-2021 20:39) Posted:

Junk counter.. 0.002

Starship      ( Date: 22-Oct-2021 20:37) Posted:

Maybe TM has no intention to take private in the first place so this IFA Report fits the narrative. 
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ckmpd1
Supreme
23-Oct-2021 06:50     
 
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 Alert Admin 		Your analysis is good.  There is no doubt SMM is losing big money.  If no big contracts coming in, how long can SMM survive on present $1B.  Things will be clearer when SMM announces its financial report in Feb 2022 

andysim83      ( Date: 22-Oct-2021 20:36) Posted:

lol if merger with keppel..where got $500m to give them....now left 1 billions deduct off $650m for 2H left only 350m....go where dig 500m for keppel SH

ttbanthony      ( Date: 22-Oct-2021 20:33) Posted:

I don see any funding needs. Rights issue sufficient to cater for entire 2022 even under assumption of no inbound cashflow.

The risk is share consolidation not that of rights issue for now. TH likely to garner more shares now that 79/80. They will probably cross 50% and may have another round of GO. Their intention of maintaining listing status is not absolute. If condition is not favourable, anything can happen.

IFA recommended 0.08 is unfair and unreasonable and propose IDs to recommend shareholders to reject the deal. This probably needs some updating.





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Chagatai
Veteran
22-Oct-2021 21:26     
 
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 Alert Admin 		whoa lao .. worstt .. my goodness please .. please la it is frustrating I understand it is but my goodness please no more okay no more Worstt okay
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naoshingo
Elite
22-Oct-2021 20:55     
 
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 Alert Admin 		Found it. Thanks.

better      ( Date: 22-Oct-2021 20:39) Posted:

It is on the Company website or SGX announcement (Offeree Circular dated 20th Oct)
 

Despatch of Notice to Shareholders Regarding Electronic Dissemination of the Offeree Circular






 

naoshingo      ( Date: 22-Oct-2021 20:36) Posted:

Where is this extracted from
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7ocean
Master
22-Oct-2021 20:39     
 
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 Alert Admin 		Junk counter.. 0.002

Starship      ( Date: 22-Oct-2021 20:37) Posted:

Maybe TM has no intention to take private in the first place so this IFA Report fits the narrative. 

ttbanthony      ( Date: 22-Oct-2021 20:33) Posted:

I don see any funding needs. Rights issue sufficient to cater for entire 2022 even under assumption of no inbound cashflow.

The risk is share consolidation not that of rights issue for now. TH likely to garner more shares now that 79/80. They will probably cross 50% and may have another round of GO. Their intention of maintaining listing status is not absolute. If condition is not favourable, anything can happen.

IFA recommended 0.08 is unfair and unreasonable and propose IDs to recommend shareholders to reject the deal. This probably needs some updating.





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better
Elite
22-Oct-2021 20:39     
 
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 Alert Admin 		It is on the Company website or SGX announcement (Offeree Circular dated 20th Oct)
 

Despatch of Notice to Shareholders Regarding Electronic Dissemination of the Offeree Circular






 

naoshingo      ( Date: 22-Oct-2021 20:36) Posted:

Where is this extracted from?

better      ( Date: 22-Oct-2021 20:22) Posted:

Well said. Brilliantly put!    yes

The profile of the independent advisor for Temasek offer:

MS WONG BEE ENG

Ms Wong is the Chief Executive Officer and Executive Director of Provenance Capital. She has been leading the firm since joining the firm in February 2007, re-building the firm to become one of the leading corporate finance advisory firms for SGX-ST listed companies.

Ms Wong has more than 35 years of experience in investment banking with a primary focus on corporate finance advisory services. She had spent 9 years in international foreign investment banks, 11 years in local banks, and more than 15 years as Chief Executive Officer and Executive Director in boutique corporate finance firms.  Ms Wong was the co-founder, CEO and Director of SAC Capital Private Limited for 2½ years before joining Provenance Capital in Febuary 2007. Before embarking on the banking industry, she had worked as an auditor briefly with Price Waterhouse.

Ms Wong holds a Bachelor degree in Accountancy (Honours) with the National University of Singapore and a Master' s degree in Business Administration with the University of Michigan, Ann Arbor, USA.

Ms Wong is a Chartered Accountant of Singapore, a Chartered Valuer and Appraiser and a Fellow of the Singapore Institute of Directors.


" Taking into consideration the above, overall, on balance, we are of the view that for the purposes of the Offer,  our estimated value range of the Shares is between S$0.125 and S$0.14, based on the mean and median P/NAV ratios of the Comparable Companies of 1.1 times, and the estimated projected NAV per Share of S$0.1246 as at 31 December 2021 which takes into consideration the recently completed Rights Issue and the expected losses for 2H2021. Hence, we are of the opinion that the Offer Price of S$0.08 is not fair and not reasonable,  as it is below our estimated value range of the Shares.

OUR RECOMMENDATION TO THE INDEPENDENT DIRECTORS ON THE OFFER In arriving at our recommendation in respect of the Offer, we have taken into account, reviewed and deliberated on the following key considerations which we considered to be pertinent in our assessment of the Offer: (a) Market price performance of the Shares (b) Financial analysis of the Group (c) Comparison with precedent takeover overs of selected SGX-ST listed companies (d) Comparison of valuation statistics of selected listed companies which are broadly comparable with the Group (e) Estimated value range of the Shares (f) Dividend track record of the Company and (g) Other relevant considerations.

Based on our analysis and after having considered carefully the information available to us as at the Latest Practicable Date, overall, we are of the view that the financial terms of the Offer are not fair and not reasonable.  Accordingly, we advise the Independent Directors to recommend Shareholders to REJECT the Offer."


But I am sure many forumers here know better and have far better insights as to how much SCM is worth.
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Starship
Supreme
22-Oct-2021 20:37     
 
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 Alert Admin 		Maybe TM has no intention to take private in the first place so this IFA Report fits the narrative. 

ttbanthony      ( Date: 22-Oct-2021 20:33) Posted:

I don see any funding needs. Rights issue sufficient to cater for entire 2022 even under assumption of no inbound cashflow.

The risk is share consolidation not that of rights issue for now. TH likely to garner more shares now that 79/80. They will probably cross 50% and may have another round of GO. Their intention of maintaining listing status is not absolute. If condition is not favourable, anything can happen.

IFA recommended 0.08 is unfair and unreasonable and propose IDs to recommend shareholders to reject the deal. This probably needs some updating.




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naoshingo
Elite
22-Oct-2021 20:36     
 
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 Alert Admin 		Where is this extracted from?

better      ( Date: 22-Oct-2021 20:22) Posted:

Well said. Brilliantly put!    yes

The profile of the independent advisor for Temasek offer:

MS WONG BEE ENG

Ms Wong is the Chief Executive Officer and Executive Director of Provenance Capital. She has been leading the firm since joining the firm in February 2007, re-building the firm to become one of the leading corporate finance advisory firms for SGX-ST listed companies.

Ms Wong has more than 35 years of experience in investment banking with a primary focus on corporate finance advisory services. She had spent 9 years in international foreign investment banks, 11 years in local banks, and more than 15 years as Chief Executive Officer and Executive Director in boutique corporate finance firms.  Ms Wong was the co-founder, CEO and Director of SAC Capital Private Limited for 2½ years before joining Provenance Capital in Febuary 2007. Before embarking on the banking industry, she had worked as an auditor briefly with Price Waterhouse.

Ms Wong holds a Bachelor degree in Accountancy (Honours) with the National University of Singapore and a Master' s degree in Business Administration with the University of Michigan, Ann Arbor, USA.

Ms Wong is a Chartered Accountant of Singapore, a Chartered Valuer and Appraiser and a Fellow of the Singapore Institute of Directors.


" Taking into consideration the above, overall, on balance, we are of the view that for the purposes of the Offer,  our estimated value range of the Shares is between S$0.125 and S$0.14, based on the mean and median P/NAV ratios of the Comparable Companies of 1.1 times, and the estimated projected NAV per Share of S$0.1246 as at 31 December 2021 which takes into consideration the recently completed Rights Issue and the expected losses for 2H2021. Hence, we are of the opinion that the Offer Price of S$0.08 is not fair and not reasonable,  as it is below our estimated value range of the Shares.

OUR RECOMMENDATION TO THE INDEPENDENT DIRECTORS ON THE OFFER In arriving at our recommendation in respect of the Offer, we have taken into account, reviewed and deliberated on the following key considerations which we considered to be pertinent in our assessment of the Offer: (a) Market price performance of the Shares (b) Financial analysis of the Group (c) Comparison with precedent takeover overs of selected SGX-ST listed companies (d) Comparison of valuation statistics of selected listed companies which are broadly comparable with the Group (e) Estimated value range of the Shares (f) Dividend track record of the Company and (g) Other relevant considerations.

Based on our analysis and after having considered carefully the information available to us as at the Latest Practicable Date, overall, we are of the view that the financial terms of the Offer are not fair and not reasonable.  Accordingly, we advise the Independent Directors to recommend Shareholders to REJECT the Offer."


But I am sure many forumers here know better and have far better insights as to how much SCM is worth.

stanleytay      ( Date: 22-Oct-2021 19:44) Posted:

Yes.. one guy called ckmpd who keep saying smm will go 0.3 cos its under TH. Then another one Uiop, keep saying SIA will go bankrupt after rights issue. After that SIA went up to $5, he move over to smm. Is my memory good? If you want to hear more, mrwise. The one who keep shouting buy 4days ago said SIA will go to $3 after rights. All these people now all gather in smm thread like some gathering. How is this not a buy signal
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andysim83
Elite
22-Oct-2021 20:36     
 
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 Alert Admin 		lol if merger with keppel..where got $500m to give them....now left 1 billions deduct off $650m for 2H left only 350m....go where dig 500m for keppel SH

ttbanthony      ( Date: 22-Oct-2021 20:33) Posted:

I don see any funding needs. Rights issue sufficient to cater for entire 2022 even under assumption of no inbound cashflow.

The risk is share consolidation not that of rights issue for now. TH likely to garner more shares now that 79/80. They will probably cross 50% and may have another round of GO. Their intention of maintaining listing status is not absolute. If condition is not favourable, anything can happen.

IFA recommended 0.08 is unfair and unreasonable and propose IDs to recommend shareholders to reject the deal. This probably needs some updating.




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