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YZJ Fin Hldg
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Continuing the journey
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Winnertakeall
Elite |
28-Nov-2023 16:11
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RHB keeps add on Yangzijiang Financial as improving conditions pave the way for NPL recoveriesRHB Bank Singapore analysts Andrea Choong and Lim Siew Khee have reiterated &ldquo add&rdquo on Yangzijiang Financial with an unchanged target price of 55 cents as they look forward to improving macroeconomic conditions, which should support a stronger investment landscape as well as non-performing loan recoveries. At a business update briefing on Nov 24, the company notes that operating conditions in China are improving as the government, banks and insurers are working together to solve outstanding issues with property developers. The analysts point out that Yangzijiang Financial remains proactive in freezing the land assets by developers as collateral to safeguard its cash flows, and will work towards restructuring these exposures in the case of repayment difficulties. The company also noted that its debt investments in China were pared down to 50% of its total RMB4.1 billion ($768 million) assets under management (AUM) in 3QFY2023 from 59% in 2QFY2023. In tandem, Yangzijiang Financial&rsquo s total investments outside China had risen to 27% of total AUM in 3QFY2023 from 15% in 2QFY2023. Choong and Lim highlight that this was quicker-than-expected and in line with its long-term target of 50%. Moving forward, Yangzijiang Financial&rsquo s management team would remain intact. Executive chairman Ren Yuanlin is set to step in as CEO effective April 2024 to replace outgoing Vincent Toe, ensuring business continuity. |
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MambaFinancial89
Veteran |
28-Nov-2023 15:39
Yells: "Be greedy when others are fearful. " |
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We just have to wait and continue to be patient. Appears that a dividend of 3 cents will be the minimum, which translates to 9%+ yield at this price. Wish I could buy more. Heard that from the briefing, Ren appeared to be confident. Also heard that it was always Toe' s intention to lead and transition the comapny successfully following the spin off. This was always part of the plan - Ren to lead FH and his son, SB. Also, Sunac China Holdings is a significant debtor to FH and the company recently announced a successful restructuring. All good, patience is a virtue and ignore daily fluctuations and BB games... | ||||
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BinderyT
Elite |
28-Nov-2023 15:33
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Yo, stop inventing rules in your head. Whether treasury stocks are cancelled or not is irrelevant as it' s excluded from the count anyway. Rulebook simply says SBB needs shareholder approval and not to exceed 10% of issued shares less treasury. There is nothing that limits the number of times or how often this can happen.
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pkli899
Supreme |
28-Nov-2023 15:24
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Actually I' m not the type who like to be confrontational. I have been watching his numerous wrong interpretation but refrained to argue with him. He seems to be getting out of hand recently especially after somebody praised him. He became head swollen after getting right once. I' m sorry to be the bad guy to try and put a stop to it. |
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BinderyT
Elite |
28-Nov-2023 15:24
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Yeap. He just needs to be careful and make a disclosure to stay out of trouble.
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pkli899
Supreme |
28-Nov-2023 15:15
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U r very stubborn. Clearly stated the number of units they can buy in their annoucement, u still insist u r right. I suggest u give a call to their IR.
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pkli899
Supreme |
28-Nov-2023 15:10
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Aiyo, Old Ren own 23.7%. He need to buy huge amount in open market before he can get to 30%. Where got such thing as he buy in open market means he need to do general offer?
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sgng123
Supreme |
28-Nov-2023 15:06
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SSB announcement only summary of this year SSB purchased excluding treasury stocks. It don meant the 10% limit is reset, there a function in treasury stock to reset it. Cancel treasury stock u get the reset. In America stock normally they cancel stock purchase once limit reached to reset it. Otherwise if u can unlimited reset SSB limit yearly why put a cancel stock there for fun lol. 10% limit is the stop gap otherwise stock would fly to the moon unlimited SSB. Anyway today bb testing SBB limit, see later if SBB activated or not. Take Old Ren word seriously he not one to talk crap, when he hint at open market purchase most likely he would do it. Combined with his son stake and 10% employee trust they controlled 40% , can make GO anytime.
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pkli899
Supreme |
28-Nov-2023 15:05
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I missed out one important number ie. max shares allowed to buy in the new mandate is 367,397,812. So far only 70,057,400 bought. From this 2 figures, we can see clearly, there is still long way more before SBB is exhausted.
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BinderyT
Elite |
28-Nov-2023 15:00
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Please read SGX rulebook.
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BinderyT
Elite |
28-Nov-2023 14:55
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There is nothing to stop FH to call for an EGM and seek shareholder' s approval for more back buys (limit 10%).
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pkli899
Supreme |
28-Nov-2023 14:47
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Same same, I also bought at 32 yesterday. But much less than u because fire power reserved for DBS....haha.
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pkli899
Supreme |
28-Nov-2023 14:43
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Last SBB on 26 Oct 23. As at then, 70,057,400 bought. Which constitute 1.9069% of company' s issued shares excluding Treasury shares as at the date of share buy back resolution. Date of resolution is the day mandate obtained ie. AGM day this year. Every AGM, new mandate, unless they stop seeking it! Conclusion is SBB still long way to 10% mandate. Above is all stated clearly in SBB annoucement. If still in doubt, please call their IR for clarification. Please refrain from posting your wrong interpretation. |
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sgng123
Supreme |
28-Nov-2023 14:33
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Then he need to make offer to all registered investors else kanna label by SGX as Stock manipulator.
SGX cracking down hard on founder investors who try to manipulate stock price since last penny stock bust decades ago.
He using own.money to buy from us registrated investors meaning ur cdp acct got the shares.
Anyway be patient loh.
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eddyeddy
Master |
28-Nov-2023 14:32
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Jen ever said he wanted to use his own money to buy from open mkt . | ||||
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112233
Master |
28-Nov-2023 14:28
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many counters bleeding today lah. 🤢
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sgng123
Supreme |
28-Nov-2023 14:27
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U need to be careful as bb using big data to pkay the market.
Retail go in = Death.
Now we see when SBB get exhausted or Ren move.
Dec is the month of surprise.
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sgng123
Supreme |
28-Nov-2023 14:23
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Just checked, treasury stock at 346mil and SBB limit at 367m. Currently SSB at 346/367=9.4%, left only 21mil available before defend breached. Ren YL mentioned last Nov in edge report dated nov he buy in open market once SBB echausted. So bb testing if he meant his word. Buying in open market as the largest investor most likely meant a General Offer. If he buy in open trading hour using own money to artificially prop up stock most likely SGX would sent him enquiry as SGX is hedging/shorting friendly lol. Anyway Ren would buy from registered investors rather market maker. He got the financial muscle to do it as his stake in yzj shipping worth more than 1b, got enough collateral to get bank to support. | ||||
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ss2017.
Supreme |
28-Nov-2023 14:23
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This morning I bought 100 lots at 32c, manipulators knew it haha. After 1pm they threw it down to 31.5c. | ||||
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sgng123
Supreme |
28-Nov-2023 14:03
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Limit at 10% of outstanding stock unless they cancel and reset it. Current limit at 367mil, treasiry stock stand at 340m approx. | ||||
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