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Cash 35c nav 70c...share px only 23c...foc ?? Post Reply Rate topic
cumzilla Member	04-Oct-2023 08:22        cumzilla About Contact  Quote this Post!
x 0   x 0  Alert Admin	I believe they have their own meetings to discuss before proposing it. If he was against it, should have voice it out instead of making the proposal public and to the shareholders. This will make him lose his credibility to other shareholders and also now he has to answer to that and may face investigation. Is that a risk to take rather than rejecting outright (since he is the major shareholder) before proposing it? luckyguy3      ( Date: 04-Oct-2023 02:00) Posted: Board proposed, he plays along lo.. since he knows he can single handlely doomed the proposal so just play along. If he had objected to the proposal he sure will be questioned and boombarded by other shareholders, so he just go along until the EGM he votes " NO" in a way to LEGALLY shut the other shareholders up. nngeeh      ( Date: 02-Oct-2023 08:11) Posted: 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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investshare Supreme	04-Oct-2023 07:50        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	What is in the 70c NAV?
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luckyguy3 Master	04-Oct-2023 02:00        luckyguy3 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Board proposed, he plays along lo.. since he knows he can single handlely doomed the proposal so just play along. If he had objected to the proposal he sure will be questioned and boombarded by other shareholders, so he just go along until the EGM he votes " NO" in a way to LEGALLY shut the other shareholders up. nngeeh      ( Date: 02-Oct-2023 08:11) Posted: 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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cumzilla Member	03-Oct-2023 22:47        cumzilla About Contact  Quote this Post!
x 0   x 0  Alert Admin	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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Nebula Member	03-Oct-2023 16:01        Nebula About Contact  Quote this Post!
x 0   x 0  Alert Admin	Is it possible that CEO made a business decision when he voted against the capital reduction? I' m not happy about it BTW. With the news of the capital reduction, the price went up only to $0.24, which suggest that the remaining company is only worth around $700k. There are no short term catalyst to push the price up after the capital reduction, will it be difficult from both a listing and deal making POV for the company if the market cap languishes at $700k? My guess, giving the CEO benefit of a doubt,  is that the capital reduction, was also suppose to act as a price discovery action, which did not materialise. Another part of the capital reduction was to erase accumulated losses on the balance sheet, which is a good action IMHO if profit is forecasted to improve.  I am not defending him, but it seems risky from the company' s perspective to risk the market cap to falling to such a low amount.  Imagine pitching a partnership with an indo company with a $700k market cap and little money in the bank.  Low market cap/ undervalued with fair amount of cash is still a reasonable company to do business with. Just my 2cents (vested)
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nngeeh Veteran	02-Oct-2023 14:40        nngeeh About Contact  Quote this Post!
x 0   x 0  Alert Admin	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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nngeeh Veteran	02-Oct-2023 12:58        nngeeh About Contact  Quote this Post!
x 0   x 0  Alert Admin	I just wrote in. Others, please write in too.
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Thi654321ABCDEF Master	02-Oct-2023 12:33        Thi654321ABCDEF About Contact  Quote this Post!
x 0   x 0  Alert Admin	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 use Ltinvestor      ( Date: 02-Oct-2023 11:47) Posted: Dear All No point complaining here a private forum.  Please write to email:  [email protected] Dr Wong is appointed to the board of directors )and as MD) because he is 40% shareholder.  Why go through the motion of EGM (Special resolution needing 75% approval) if he intends to vote against the resolution?  Waste of company' s resources, time and money. What happens if he do this again and again - every month propose a resolution and vote it down last minute, distorting share price movement.  SGX should at least take a good look at it.
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Thi654321ABCDEF Master	02-Oct-2023 12:31        Thi654321ABCDEF About Contact  Quote this Post!
x 0   x 0  Alert Admin	no use Ltinvestor      ( Date: 02-Oct-2023 11:47) Posted: Dear All No point complaining here a private forum.  Please write to email:  [email protected] Dr Wong is appointed to the board of directors )and as MD) because he is 40% shareholder.  Why go through the motion of EGM (Special resolution needing 75% approval) if he intends to vote against the resolution?  Waste of company' s resources, time and money. What happens if he do this again and again - every month propose a resolution and vote it down last minute, distorting share price movement.  SGX should at least take a good look at it.
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Ltinvestor Member	02-Oct-2023 11:47        Ltinvestor About Contact  Quote this Post!
x 1   x 0  Alert Admin	Dear All No point complaining here a private forum.  Please write to email:  [email protected] Dr Wong is appointed to the board of directors )and as MD) because he is 40% shareholder.  Why go through the motion of EGM (Special resolution needing 75% approval) if he intends to vote against the resolution?  Waste of company' s resources, time and money. What happens if he do this again and again - every month propose a resolution and vote it down last minute, distorting share price movement.  SGX should at least take a good look at it.
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Thi654321ABCDEF Master	02-Oct-2023 11:26        Thi654321ABCDEF About Contact  Quote this Post!
x 0   x 0  Alert Admin	no action nothing , its voting rights , its upto them. Board/companey got many shareholders , not only one person. so upto them at 24 many days stay , no one sell . now selling at 10. All human character. People will to loose 10 cents but donot want to loose 1 cents.   surewin73      ( Date: 02-Oct-2023 10:27) Posted: Let's see how our Singapore SGX or CAD have any action! Only the person who vote against knows and now he can huat big .
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Alignment Elite	02-Oct-2023 10:38        Alignment About Contact  Quote this Post! Style: Fundamental
x 0   x 0  Alert Admin	This is very odd. At a minimum for good practice the company owes the market an explanation of why this happened.
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surewin73 Member	02-Oct-2023 10:27        surewin73 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Let's see how our Singapore SGX or CAD have any action! Only the person who vote against knows and now he can huat big .
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Thi654321ABCDEF Master	02-Oct-2023 10:25        Thi654321ABCDEF About Contact  Quote this Post!
x 0   x 0  Alert Admin	Stockmarket theory , sell on news ,  many days at 24 but no one want to sell , now people want to sell at 11,12,13,14 etc , all human character , what to do. Thi654321ABCDEF      ( Date: 02-Oct-2023 10:21) Posted: Others may be proposed , anyway he have the rights to reject or accept , Capital reduction/divident/selling/buying etc etc  not depends on proposals  , it depends on EGM/Voting. EGM/VOTING IS FINAL THING.  learn lesson , donot buy or sell base on proposalsd. Many proposals are failing in EGM nngeeh      ( Date: 02-Oct-2023 08:11) Posted: 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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Thi654321ABCDEF Master	02-Oct-2023 10:21        Thi654321ABCDEF About Contact  Quote this Post!
x 0   x 0  Alert Admin	Others may be proposed , anyway he have the rights to reject or accept , Capital reduction/divident/selling/buying etc etc  not depends on proposals  , it depends on EGM/Voting. EGM/VOTING IS FINAL THING.  learn lesson , donot buy or sell base on proposalsd. Many proposals are failing in EGM nngeeh      ( Date: 02-Oct-2023 08:11) Posted: 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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cumzilla Member	02-Oct-2023 09:04        cumzilla About Contact  Quote this Post!
x 0   x 0  Alert Admin	Scam company, CAD should investigate them..
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nngeeh Veteran	02-Oct-2023 08:11        nngeeh About Contact  Quote this Post!
x 0   x 0  Alert Admin	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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luckyguy3 Master	02-Oct-2023 07:57        luckyguy3 About Contact  Quote this Post!
x 0   x 0  Alert Admin	If I am him and I control 40%, why would I agree to distribute the cash to the other 60%? I would wait for the share price to tank and then take over the company by giving a low ball offer and keep the whole cash to myself, right? So let see whether he wants to tank the share price until 10 cents and then offer to take it private at 15 cents lo.. then he can have the whole 100% cash to himself instead of letting the 60% other shareholders have a pie of the cash. Even if privatisation not successful, his 40% still control the company aka the cash is " controlled" by him . nngeeh      ( Date: 02-Oct-2023 07:31) Posted: 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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nngeeh Veteran	02-Oct-2023 07:31        nngeeh About Contact  Quote this Post!
x 0   x 0  Alert Admin	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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luckyguy3 Master	02-Oct-2023 03:48        luckyguy3 About Contact  Quote this Post!
x 0   x 0  Alert Admin	This one is making use of EGM voting which is legal. clever lo   Joshua87      ( Date: 02-Oct-2023 03:19) Posted: This resolution requires 75% approval since it is a special resolution as compared to ordinary resolution where 50%+1 share will be sufficient. Hence, Dr Wong with over 40% will be able to dictate whether the resolution pass or fail. Other than trying to manipulate the share price in his favour, I can't think of any other reasons why he would do such things. nngeeh      ( Date: 30-Sep-2023 20:56) Posted: 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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