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newbieliu Elite	27-Nov-2019 18:17        newbieliu About Contact  Quote this Post!
x 0   x 0  Alert Admin	Agreed and bought above 20 so waiting zzz kelvintan84      ( Date: 27-Nov-2019 09:07) Posted: I didnt have time to look into your calculation. but measuring company based on NAV is just one of the many benchmark of valuating a business. I guess what is on everyone' s mind is the ability to generate meaningful profit that will translate to cash - and to have the cash deployed either as dividend or share buy back. Or else even if the company  is USD 1trillion in  NAV, it doesnt affect the common investors like you and me 88everyday      ( Date: 26-Nov-2019 19:22) Posted: Do not be sad!!! This is GOOD NEWS, now that the value of asssociate is confirm @USD1.7. See my calculation below:   USD' 000 Investment in associate (44% impairment) 11,662 Other non-current assets 31,668 Other current assets 19,187 Goodwill (assume zero) (20,570) All liabilities (17,654) NCI (Novus 51%) (959)   23,334 Issued less Treasury shares 1,195,965 NAV / share (without NCI without goodwill) USD 0.020 NAV / share (without NCI without goodwill) SGD 0.028 Share price now 0.014 Upside 100%
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kelvintan84 Veteran	27-Nov-2019 14:58        kelvintan84 About Contact  Quote this Post!
x 0   x 0  Alert Admin	someone is spending $315 to make spacky look good. lol. 21 lots @ 0.015. Let' s hope the penny rotation play comes to spacky soon.... Need a 100% increase to see meaningful profit for me.
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kelvintan84 Veteran	27-Nov-2019 09:47        kelvintan84 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I only emailed her afew times. I was quickly turned off by her hopelessness so i didnt explore further... lol... let us know if you manage to meet her in person. 88everyday      ( Date: 27-Nov-2019 09:28) Posted: Is she pretty? kelvintan84      ( Date: 27-Nov-2019 09:19) Posted: Think you can email jasmine - the IR person. she recently got promoted to GM (roll eyes) But my impression of her based on my conversation with her a year or so ago is - she is quite hopeless and clueless
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88everyday Member	27-Nov-2019 09:28        88everyday About Contact  Quote this Post! Style: Fundamental   Mood: Yells: "sarcasm grabs attention"
x 0   x 0  Alert Admin	Is she pretty? kelvintan84      ( Date: 27-Nov-2019 09:19) Posted: Think you can email jasmine - the IR person. she recently got promoted to GM (roll eyes) But my impression of her based on my conversation with her a year or so ago is - she is quite hopeless and clueless. 88everyday      ( Date: 27-Nov-2019 09:13) Posted: Weird that Spackman never halt trading or announce this significant investment to one of its major associate and asset. Verdict: This collaboration with ESA is REAL and also path the way to the (targeted) listing of SMGL at the end of 2020.  Bottom line: This stock worth S$0.028 based on NAV calculation (without intangible assets) Will continue to dig and update as always!
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kelvintan84 Veteran	27-Nov-2019 09:19        kelvintan84 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Think you can email jasmine - the IR person. she recently got promoted to GM (roll eyes) But my impression of her based on my conversation with her a year or so ago is - she is quite hopeless and clueless. 88everyday      ( Date: 27-Nov-2019 09:13) Posted: Weird that Spackman never halt trading or announce this significant investment to one of its major associate and asset. Verdict: This collaboration with ESA is REAL and also path the way to the (targeted) listing of SMGL at the end of 2020.  Bottom line: This stock worth S$0.028 based on NAV calculation (without intangible assets) Will continue to dig and update as always!! kelvintan84      ( Date: 27-Nov-2019 09:03) Posted: My take is: 1. Having an " external party" buying a stake into SMGL at a respectable valuation (especially since it is lost making) is always a " not so bad news" , although the purchase price at 44% discount does make spacky look like a carrot head. 2. Spacky will not receive any form of cash or whatsoever from this deal, this deal is just a confirmation that SMGL is not some random company with no value- probably one of the many concerns of investors 3. This new investor that comes in, if he' s pocket is deep enough, we may see some coporate actions on spacky after SMGL else, stock price wont move
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88everyday Member	27-Nov-2019 09:13        88everyday About Contact  Quote this Post! Style: Fundamental   Mood: Yells: "sarcasm grabs attention"
x 0   x 0  Alert Admin	Weird that Spackman never halt trading or announce this significant investment to one of its major associate and asset. Verdict: This collaboration with ESA is REAL and also path the way to the (targeted) listing of SMGL at the end of 2020.  Bottom line: This stock worth S$0.028 based on NAV calculation (without intangible assets) Will continue to dig and update as always!! kelvintan84      ( Date: 27-Nov-2019 09:03) Posted: My take is: 1. Having an " external party" buying a stake into SMGL at a respectable valuation (especially since it is lost making) is always a " not so bad news" , although the purchase price at 44% discount does make spacky look like a carrot head. 2. Spacky will not receive any form of cash or whatsoever from this deal, this deal is just a confirmation that SMGL is not some random company with no value- probably one of the many concerns of investors 3. This new investor that comes in, if he' s pocket is deep enough, we may see some coporate actions on spacky after SMGL else, stock price wont move. danger      ( Date: 27-Nov-2019 08:32) Posted: so what is the verdict and bottomline here
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kelvintan84 Veteran	27-Nov-2019 09:07        kelvintan84 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I didnt have time to look into your calculation. but measuring company based on NAV is just one of the many benchmark of valuating a business. I guess what is on everyone' s mind is the ability to generate meaningful profit that will translate to cash - and to have the cash deployed either as dividend or share buy back. Or else even if the company  is USD 1trillion in  NAV, it doesnt affect the common investors like you and me 88everyday      ( Date: 26-Nov-2019 19:22) Posted: Do not be sad!!! This is GOOD NEWS, now that the value of asssociate is confirm @USD1.7. See my calculation below:   USD' 000 Investment in associate (44% impairment) 11,662 Other non-current assets 31,668 Other current assets 19,187 Goodwill (assume zero) (20,570) All liabilities (17,654) NCI (Novus 51%) (959)   23,334 Issued less Treasury shares 1,195,965 NAV / share (without NCI without goodwill) USD 0.020 NAV / share (without NCI without goodwill) SGD 0.028 Share price now 0.014 Upside 100% kelvintan84      ( Date: 26-Nov-2019 18:39) Posted: Assuming there is a typo or google translate wrongly and it is 17.99387bn won, the value per share is SGD2.3 or USD 1.68. A 44% discount to the price they buy. Not a TERRIBLE news if so.... not sure how is this good news.. Vested, and sad
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kelvintan84 Veteran	27-Nov-2019 09:03        kelvintan84 About Contact  Quote this Post!
x 0   x 0  Alert Admin	My take is: 1. Having an " external party" buying a stake into SMGL at a respectable valuation (especially since it is lost making) is always a " not so bad news" , although the purchase price at 44% discount does make spacky look like a carrot head. 2. Spacky will not receive any form of cash or whatsoever from this deal, this deal is just a confirmation that SMGL is not some random company with no value- probably one of the many concerns of investors 3. This new investor that comes in, if he' s pocket is deep enough, we may see some coporate actions on spacky after SMGL else, stock price wont move. danger      ( Date: 27-Nov-2019 08:32) Posted: so what is the verdict and bottomline here ? 88everyday      ( Date: 26-Nov-2019 19:22) Posted: Do not be sad!!! This is GOOD NEWS, now that the value of asssociate is confirm @USD1.7. See my calculation below:   USD' 000 Investment in associate (44% impairment) 11,662 Other non-current assets 31,668 Other current assets 19,187 Goodwill (assume zero) (20,570) All liabilities (17,654) NCI (Novus 51%) (959)   23,334 Issued less Treasury shares 1,195,965 NAV / share (without NCI without goodwill) USD 0.020 NAV / share (without NCI without goodwill) SGD 0.028 Share price now 0.014 Upside 100%
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danger Supreme	27-Nov-2019 08:32        danger About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	so what is the verdict and bottomline here ? 88everyday      ( Date: 26-Nov-2019 19:22) Posted: Do not be sad!!! This is GOOD NEWS, now that the value of asssociate is confirm @USD1.7. See my calculation below:   USD' 000 Investment in associate (44% impairment) 11,662 Other non-current assets 31,668 Other current assets 19,187 Goodwill (assume zero) (20,570) All liabilities (17,654) NCI (Novus 51%) (959)   23,334 Issued less Treasury shares 1,195,965 NAV / share (without NCI without goodwill) USD 0.020 NAV / share (without NCI without goodwill) SGD 0.028 Share price now 0.014 Upside 100% kelvintan84      ( Date: 26-Nov-2019 18:39) Posted: Assuming there is a typo or google translate wrongly and it is 17.99387bn won, the value per share is SGD2.3 or USD 1.68. A 44% discount to the price they buy. Not a TERRIBLE news if so.... not sure how is this good news.. Vested, and sad
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sbscap Master	27-Nov-2019 07:58        sbscap About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	@88everday, you are quite an amazing person. Digging and fingding worms, you put a positive spin to the story. So please dig more.
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88everyday Member	26-Nov-2019 19:55        88everyday About Contact  Quote this Post! Style: Fundamental   Mood: Yells: "sarcasm grabs attention"
x 0   x 0  Alert Admin	WTH!!! She is also one of the vendors of Constellation Agency which Spackman acquire in Dec 2017. What am I digging up man 88everyday      ( Date: 26-Nov-2019 19:46) Posted: WTH!!!! One of the counterparty is  Leong Lai Yee. Is she the same person in the ponzi scheme???? Selling her shares to pay back investors she duped?? https://www.straitstimes.com/singapore/courts-crime/housewife-jailed-for-cheating-53-people-of-more-than-35-million 88everyday      ( Date: 26-Nov-2019 19:33) Posted: Oh man, this is so juicy: http://vip.mk.co.kr/news/view/21/28/776220.html
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88everyday Member	26-Nov-2019 19:46        88everyday About Contact  Quote this Post! Style: Fundamental   Mood: Yells: "sarcasm grabs attention"
x 0   x 0  Alert Admin	WTH!!!! One of the counterparty is  Leong Lai Yee. Is she the same person in the ponzi scheme???? Selling her shares to pay back investors she duped?? https://www.straitstimes.com/singapore/courts-crime/housewife-jailed-for-cheating-53-people-of-more-than-35-million 88everyday      ( Date: 26-Nov-2019 19:33) Posted: Oh man, this is so juicy: http://vip.mk.co.kr/news/view/21/28/776220.html 88everyday      ( Date: 26-Nov-2019 19:22) Posted: Do not be sad!!! This is GOOD NEWS, now that the value of asssociate is confirm @USD1.7. See my calculation below:   USD' 000 Investment in associate (44% impairment) 11,662 Other non-current assets 31,668 Other current assets 19,187 Goodwill (assume zero) (20,570) All liabilities (17,654) NCI (Novus 51%) (959)   23,334 Issued less Treasury shares 1,195,965 NAV / share (without NCI without goodwill) USD 0.020 NAV / share (without NCI without goodwill) SGD 0.028 Share price now 0.014 Upside 100%
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88everyday Member	26-Nov-2019 19:33        88everyday About Contact  Quote this Post! Style: Fundamental   Mood: Yells: "sarcasm grabs attention"
x 0   x 0  Alert Admin	Oh man, this is so juicy: http://vip.mk.co.kr/news/view/21/28/776220.html 88everyday      ( Date: 26-Nov-2019 19:22) Posted: Do not be sad!!! This is GOOD NEWS, now that the value of asssociate is confirm @USD1.7. See my calculation below:   USD' 000 Investment in associate (44% impairment) 11,662 Other non-current assets 31,668 Other current assets 19,187 Goodwill (assume zero) (20,570) All liabilities (17,654) NCI (Novus 51%) (959)   23,334 Issued less Treasury shares 1,195,965 NAV / share (without NCI without goodwill) USD 0.020 NAV / share (without NCI without goodwill) SGD 0.028 Share price now 0.014 Upside 100% kelvintan84      ( Date: 26-Nov-2019 18:39) Posted: Assuming there is a typo or google translate wrongly and it is 17.99387bn won, the value per share is SGD2.3 or USD 1.68. A 44% discount to the price they buy. Not a TERRIBLE news if so.... not sure how is this good news.. Vested, and sad
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88everyday Member	26-Nov-2019 19:22        88everyday About Contact  Quote this Post! Style: Fundamental   Mood: Yells: "sarcasm grabs attention"
x 0   x 0  Alert Admin	Do not be sad!!! This is GOOD NEWS, now that the value of asssociate is confirm @USD1.7. See my calculation below:   USD' 000 Investment in associate (44% impairment) 11,662 Other non-current assets 31,668 Other current assets 19,187 Goodwill (assume zero) (20,570) All liabilities (17,654) NCI (Novus 51%) (959)   23,334 Issued less Treasury shares 1,195,965 NAV / share (without NCI without goodwill) USD 0.020 NAV / share (without NCI without goodwill) SGD 0.028 Share price now 0.014 Upside 100% kelvintan84      ( Date: 26-Nov-2019 18:39) Posted: Assuming there is a typo or google translate wrongly and it is 17.99387bn won, the value per share is SGD2.3 or USD 1.68. A 44% discount to the price they buy. Not a TERRIBLE news if so.... not sure how is this good news.. Vested, and sad. kelvintan84      ( Date: 26-Nov-2019 18:20) Posted: Been sometime since i drop by here... Based on the link you provided and a google translate, i understand it to be the following: Purchase consideration amount: 17.99387 million won Shares purchase: 8951936 shares value per share: 2.01 won or 0.0023 SGD Can everyone remind everyone again how much did Spacky paid for SMGL again per share? USD $3 right? Is this a 99.9% discount? am i missing something? did i get something wrong here?
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kelvintan84 Veteran	26-Nov-2019 18:39        kelvintan84 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Assuming there is a typo or google translate wrongly and it is 17.99387bn won, the value per share is SGD2.3 or USD 1.68. A 44% discount to the price they buy. Not a TERRIBLE news if so.... not sure how is this good news.. Vested, and sad. kelvintan84      ( Date: 26-Nov-2019 18:20) Posted: Been sometime since i drop by here... Based on the link you provided and a google translate, i understand it to be the following: Purchase consideration amount: 17.99387 million won Shares purchase: 8951936 shares value per share: 2.01 won or 0.0023 SGD Can everyone remind everyone again how much did Spacky paid for SMGL again per share? USD $3 right? Is this a 99.9% discount? am i missing something? did i get something wrong here?? 88everyday      ( Date: 26-Nov-2019 17:29) Posted: BIG NEWS BOYS!!! Ess A (4,265 KRW) 145 -3.3%) announced on the 26th that it decided to acquire shares of Spackman Media Group Limited, a Hong Kong entertainment company, worth $ 17.8787 million. That' s 28.12% of the total. http://biz.heraldcorp.com/view.php?ud=20191126000787
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kelvintan84 Veteran	26-Nov-2019 18:20        kelvintan84 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Been sometime since i drop by here... Based on the link you provided and a google translate, i understand it to be the following: Purchase consideration amount: 17.99387 million won Shares purchase: 8951936 shares value per share: 2.01 won or 0.0023 SGD Can everyone remind everyone again how much did Spacky paid for SMGL again per share? USD $3 right? Is this a 99.9% discount? am i missing something? did i get something wrong here?? 88everyday      ( Date: 26-Nov-2019 17:29) Posted: BIG NEWS BOYS!!! Ess A (4,265 KRW) 145 -3.3%) announced on the 26th that it decided to acquire shares of Spackman Media Group Limited, a Hong Kong entertainment company, worth $ 17.8787 million. That' s 28.12% of the total. http://biz.heraldcorp.com/view.php?ud=20191126000787
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88everyday Member	26-Nov-2019 17:55        88everyday About Contact  Quote this Post! Style: Fundamental   Mood: Yells: "sarcasm grabs attention"
x 0   x 0  Alert Admin	Thanks for yr well wishes!! sbscap      ( Date: 26-Nov-2019 17:32) Posted: @88everyday, your super enthusiasm, hopefully, does not equate to super huge unrealized losses on SEGL. I' m pretty sure your portfolio is doing well. Your logic seems rather twisted on SEGL to the point I think you are either hired to market the shares or you are just quite young. For instance, how do you know Charles Spackman is no longer having any decision making power? Without any major shareholder(s), who is pulling the strings in SEGL? The previous interim CEO was there for a long time and made many big decisions. Did he really make all those big decisions as an interim CEO? Surely someone is calling the shorts? Who? Even if SEGL removes the Spackman name and I always wonder why that name is still there, one cannot be sure Charles Spackman is not in control.
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sbscap Master	26-Nov-2019 17:32        sbscap About Contact  Quote this Post! Style: Fundamental   Mood:
x 0   x 0  Alert Admin	@88everyday, your super enthusiasm, hopefully, does not equate to super huge unrealized losses on SEGL. I' m pretty sure your portfolio is doing well. Your logic seems rather twisted on SEGL to the point I think you are either hired to market the shares or you are just quite young. For instance, how do you know Charles Spackman is no longer having any decision making power? Without any major shareholder(s), who is pulling the strings in SEGL? The previous interim CEO was there for a long time and made many big decisions. Did he really make all those big decisions as an interim CEO? Surely someone is calling the shorts? Who? Even if SEGL removes the Spackman name and I always wonder why that name is still there, one cannot be sure Charles Spackman is not in control.
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88everyday Member	26-Nov-2019 17:29        88everyday About Contact  Quote this Post! Style: Fundamental   Mood: Yells: "sarcasm grabs attention"
x 0   x 0  Alert Admin	BIG NEWS BOYS!!! Ess A (4,265 KRW) 145 -3.3%) announced on the 26th that it decided to acquire shares of Spackman Media Group Limited, a Hong Kong entertainment company, worth $ 17.8787 million. That' s 28.12% of the total. http://biz.heraldcorp.com/view.php?ud=20191126000787
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88everyday Member	26-Nov-2019 16:18        88everyday About Contact  Quote this Post! Style: Fundamental   Mood: Yells: "sarcasm grabs attention"
x 0   x 0  Alert Admin	Some thoughts after reading the report. Regardless how shady Charles Spackman&rsquo s background may be, he no longer has any decision-making power since Nov/Dec 2017 after he stepped down from SEGI and SEGL. Coincidentally, most of the shares swap happened after that, namely Constellation Agency (Dec 2017), Greenlight Content (Oct 2018), SMGL (2018, 2019), Simplex (2019). Presuming those swapping has anything to do with Charles Spackman is just baseless. Disposing of loss-making subsidiary Opus Pictures. This subsidiary was burning cash. Subsequent to the separation, Opus Pictures did not produce any eye-catching / record breaking films. So, I think this was a good decision by management then. SEGL manages to re-sign top artists Park Hyung-sik, Song Hye-kyo, Yoo Ah-in and Ellen Park in 2015. This is a good thing for SEGL. Any possible implication would already had surfaced considering this happened 4 years back. This is an expired concern. Valuation of SMGL and other acquisition was questioned. Under/overvalued? There is no conclusion here. The author chose to omit the fact that SEGL explained that independent (experienced) third party valuator was engaged to justify each of the valuation. Is the author (or any other person) in a better position to deem otherwise? Nope. The author also chose to not mention the good decision of acquiring performing subsidiaries like Novus MediaCorp and Frame Pictures but only focuses on poor performing subsidiaries. This is not an objective presentation. Non-disclosure of swapping &ldquo vendors&rdquo was pointed out as controversial. Author also pointed out that SGX was not satisfied with some of SEGL&rsquo s replies to their queries. Point to note is SGX had given the APPROVAL for new shares to be issued to these vendors (every time). This is not logical if SGX was not satisfied with SEGL replies and yet approved the issuance of new shares?? In addition, if you were one of the vendors, would you want to publicly disclose to the world that you would become millionaire soon??? Think of those who strike lottery and relatives / friends come knocking on their doors to borrow money. FrancisLim      ( Date: 26-Nov-2019 13:53) Posted: Reference to the article in Corporate Governance on Spackman Entertainment amongst other companies: https://governanceforstakeholders.com/wp-content/uploads/2019/10/Corporate-Governance-Vol-8_2019.pdf
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