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Latest Forum Topics / OxPay Financial    Last:0.041    +0.002  Post Reply
First digital payments Fintech group on SGX
Skynet4321
Master
16-Jun-2021 17:12     
 
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 Alert Admin 		Wasai, I like your style sia!!!
100% agree with you!! 
 

superstartup      ( Date: 16-Jun-2021 16:50) Posted:

Boardroom tussle: MC Payment disputes controlling shareholder' s account of financial performance

Ai ya, up stakes la.
Who have more shares win la.
No need talk so much in such tussle, right?
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superstartup
Supreme
16-Jun-2021 16:50     
 
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Yells: "Enjoy doing Fundamental Research"
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 Alert Admin

Boardroom tussle: MC Payment disputes controlling shareholder' s account of financial performance

Ai ya, up stakes la.
Who have more shares win la.
No need talk so much in such tussle, right?
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Skynet4321
Master
16-Jun-2021 15:05     
 
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 Alert Admin 		dont be disappointed it didnt drop to 30 :)

Smarty      ( Date: 15-Jun-2021 17:11) Posted:

Sick MC trading at year' s low despite CEO Koh listed some achievements since RTO 
yes, can still go lower .. even below .30 if boardroom disputes not resolved 
investors punters will soon throw in the towel and look for exit 

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Skynet4321
Master
16-Jun-2021 14:36     
 
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 Alert Admin 		Bro, Thanks for the correction, 21.9m!

spursfan      ( Date: 16-Jun-2021 14:28) Posted:

from the circular companny ' s    statement.


Based on the price of Shares at market close on the Latest Practicable Date, the Settlement Agreement led to Mr Ching acquiring Shares worth S$21.9 million, in exchange for the cancellation of a debt owed to Mr Ching by Artivision of S$10.0 million. In effect, Mr Ching was paid a significant premium for the listing status of Artivision, which as described above has been a dormant company for some time. Even if Mr Ching acquired the December 2016 Bonds and the April 2017 Bond at their full value, this premium would amount to at least S$11.9 million. Seen in this light, it was Mr Ching who was the net beneficiary from the &lsquo support&rsquo he gave to Artivision. 

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spursfan
Supreme
16-Jun-2021 14:28     
 
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 Alert Admin 		from the circular companny ' s    statement.


Based on the price of Shares at market close on the Latest Practicable Date, the Settlement Agreement led to Mr Ching acquiring Shares worth S$21.9 million, in exchange for the cancellation of a debt owed to Mr Ching by Artivision of S$10.0 million. In effect, Mr Ching was paid a significant premium for the listing status of Artivision, which as described above has been a dormant company for some time. Even if Mr Ching acquired the December 2016 Bonds and the April 2017 Bond at their full value, this premium would amount to at least S$11.9 million. Seen in this light, it was Mr Ching who was the net beneficiary from the &lsquo support&rsquo he gave to Artivision. 
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cmengchan
Senior
16-Jun-2021 14:21     
 
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 Alert Admin 		I believe this $21.6m amount is the value of Ching' s 26% ownership of MC Payments after the RTO.  This is about the amount based on recent share price.

Skynet4321      ( Date: 16-Jun-2021 14:15) Posted:

Boardroom tussle: MC Payment disputes Ching's account of financial performance
https://www.businesstimes.com.sg/companies-markets/boardroom-tussle-mc-payment-disputes-chings-account-of-financial-performance

Wow, Chng netted $21.6m for this deal and got his personal loan to Arti back from this rto. Very good deal leh...
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Skynet4321
Master
16-Jun-2021 14:15     
 
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 Alert Admin 		Boardroom tussle: MC Payment disputes Ching's account of financial performance
https://www.businesstimes.com.sg/companies-markets/boardroom-tussle-mc-payment-disputes-chings-account-of-financial-performance

Wow, Chng netted $21.6m for this deal and got his personal loan to Arti back from this rto. Very good deal leh...
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Skynet4321
Master
16-Jun-2021 10:35     
 
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 Alert Admin 		Yup, I also keen to know as per my earlier message but I don' t have a stomach for conspiracy theories, we can' t get distracted by link of link of link...... I doubt anyone will be able to answer except the person himself which you know la it' s as good as not knowing lor, only casting more doubts with no answer. waste of time.
anyway, we will have a clearer picture after EGM. 

look@bright      ( Date: 16-Jun-2021 10:15) Posted:

emmm but why in the first place talk to NSGC for? Need some explanation on this.

Skynet4321      ( Date: 16-Jun-2021 10:13) Posted:

I am not a fan of conspiracy theories
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look@bright
Elite
16-Jun-2021 10:15     
 
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 Alert Admin 		emmm but why in the first place talk to NSGC for? Need some explanation on this.

Skynet4321      ( Date: 16-Jun-2021 10:13) Posted:

I am not a fan of conspiracy theories.

Jamesbond008      ( Date: 16-Jun-2021 10:05) Posted:

SOMETHING FUNNY GOING ON INSIDE MC PAYMENT.....
I like to provide you with some research to show that David Ong knows about NSGC.
  1. Appointment of Mahtani Bhagwandas and David Ong as Independent Directors of a Singapore company, HON Corporation Ltd (8259 HK), listed on GEM HK.
  2. Resignation of Mahtani Bhagwandas and David Ong as Independent Directors of the same Company, HON Corporation Ltd (8259 HK).
Both guys joined HON in Jan 2020 at the same time and both left HON in Oct 2020 at the same time. Coincidence?
Mahtani did NOT listed his directorship in Hon Corp when he was appointed to NGSC in May 2021. In the same month, David Ong joined MC payment (and David did listed Hon Corp).

When Mahtani left Natcool board, Hon Corp was included in his directorships. Why didn&rsquo t he put down Hon Corp when he was appointed to NGSC - This is a disclosure breach by the way. 
WHY DIDN' T SGX GO AFTER MAHTANI ???

Is Mahtani trying to hide his relationship with David Ong?

 


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Skynet4321
Master
16-Jun-2021 10:13     
 
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 Alert Admin 		I am not a fan of conspiracy theories.

Jamesbond008      ( Date: 16-Jun-2021 10:05) Posted:

SOMETHING FUNNY GOING ON INSIDE MC PAYMENT.....
I like to provide you with some research to show that David Ong knows about NSGC.
  1. Appointment of Mahtani Bhagwandas and David Ong as Independent Directors of a Singapore company, HON Corporation Ltd (8259 HK), listed on GEM HK.
  2. Resignation of Mahtani Bhagwandas and David Ong as Independent Directors of the same Company, HON Corporation Ltd (8259 HK).
Both guys joined HON in Jan 2020 at the same time and both left HON in Oct 2020 at the same time. Coincidence?
Mahtani did NOT listed his directorship in Hon Corp when he was appointed to NGSC in May 2021. In the same month, David Ong joined MC payment (and David did listed Hon Corp).

When Mahtani left Natcool board, Hon Corp was included in his directorships. Why didn&rsquo t he put down Hon Corp when he was appointed to NGSC - This is a disclosure breach by the way. 
WHY DIDN' T SGX GO AFTER MAHTANI ???

Is Mahtani trying to hide his relationship with David Ong?

 

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Jamesbond008
Member
16-Jun-2021 10:05     
 
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 Alert Admin 		SOMETHING FUNNY GOING ON INSIDE MC PAYMENT.....
I like to provide you with some research to show that David Ong knows about NSGC.
  1. Appointment of Mahtani Bhagwandas and David Ong as Independent Directors of a Singapore company, HON Corporation Ltd (8259 HK), listed on GEM HK.
  2. Resignation of Mahtani Bhagwandas and David Ong as Independent Directors of the same Company, HON Corporation Ltd (8259 HK).
Both guys joined HON in Jan 2020 at the same time and both left HON in Oct 2020 at the same time. Coincidence?
Mahtani did NOT listed his directorship in Hon Corp when he was appointed to NGSC in May 2021. In the same month, David Ong joined MC payment (and David did listed Hon Corp).

When Mahtani left Natcool board, Hon Corp was included in his directorships. Why didn&rsquo t he put down Hon Corp when he was appointed to NGSC - This is a disclosure breach by the way. 
WHY DIDN' T SGX GO AFTER MAHTANI ???

Is Mahtani trying to hide his relationship with David Ong?

 
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spursfan
Supreme
16-Jun-2021 06:47     
 
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 Alert Admin 		Egm circular is out. No printed copies will be sent to Shareholders due to covid order. Download Proxy form from websites given in the Circular if you want to vote. From the company's comments it seems that Ching benefits the most from the rto. His return is worth far more than he put in. Actually the rto seems to bail him out from the predicament in artivison so no idea why he is unhappy with the management. Read the company's comments for clearer picture. ...https://links.sgx.com/1.0.0/corporate-announcements/PMHPXKMOC0HVBKWH/671291_MCP%20-%20Circular%20on%2030%20June%202021%20EGM.pdf
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look@bright
Elite
15-Jun-2021 20:37     
 
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 Alert Admin 		MC Payment&rsquo s Koh: &ldquo Payment consolidation is inevitable and companies must scale up or become irrelevant&rdquo | The Asian Banker

https://live.theasianbanker.com/video/mc-payments-koh-payment-consolidation-is-inevitable-and-companies-must-scale-up-or-become-irrelevant

Some read up
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Smarty
Master
15-Jun-2021 17:11     
 
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 Alert Admin 		Sick MC trading at year' s low despite CEO Koh listed some achievements since RTO 
yes, can still go lower .. even below .30 if boardroom disputes not resolved 
investors punters will soon throw in the towel and look for exit 
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Skynet4321
Master
15-Jun-2021 14:50     
 
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 Alert Admin 		I agree with what you said when this drama started but subsequently, I decided that as a retail shareholder, my only interest is making money la. SO whoever understands the market and business gets my vote, it' s not like I will still be a shareholder down the road. Personally, I also don' t know any Director in MCP or Oxley so I cannot be a referral of their character(s), thus I just relax and wait lor. Welcome to the real world. lol

Honestly, with a company strength of ~25 including 5-6 Directors, does it make sense to have 10? Are they FOC? What if their Director fees and salaries eat up the profits which will affect the share prices, as a retail shareholder will you be happy? 

smallsgshare      ( Date: 15-Jun-2021 14:25) Posted:

As a shareholder, I would like to express my view that  Ching put his own money and time to make the RTO sucessful. RTO is a backdoor to be listed. RTO is cheaper and quicker than an IPO, there can often be weaknesses in an RTO' s management and record-keeping, among other things (www.investopedia.com). In other word, without Ching' s help, the Co. might not be listed. 

Actions against Ching somehow like  1) " destorying the bridge after corssing the river" 2) " Buring down your own house" . 

smallsgshare      ( Date: 05-Jun-2021 16:11) Posted:

Think again. If Ching takes control, do you think he will let the Co. fail? Get a stone to hit his own feet? Obvious NO.
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smallsgshare
Senior
15-Jun-2021 14:25     
 
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 Alert Admin 		As a shareholder, I would like to express my view that  Ching put his own money and time to make the RTO sucessful. RTO is a backdoor to be listed. RTO is cheaper and quicker than an IPO, there can often be weaknesses in an RTO' s management and record-keeping, among other things (www.investopedia.com). In other word, without Ching' s help, the Co. might not be listed. 

Actions against Ching somehow like  1) " destorying the bridge after corssing the river" 2) " Buring down your own house" . 

smallsgshare      ( Date: 05-Jun-2021 16:11) Posted:

Think again. If Ching takes control, do you think he will let the Co. fail? Get a stone to hit his own feet? Obvious NO.
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lahaha
Member
15-Jun-2021 11:50     
 
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 Alert Admin 		Honestly Anthony Koh is quite stupid. Why take that first step to make things so ugly by voting out the previous directors? Don' t think Anthony Koh is that competent if he cannot even consider the backlash from his actions. Luckily never buy any MC Payment shares.
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desmlee
Member
15-Jun-2021 11:34     
 
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 Alert Admin 		Exactly my point and well agreed - use the time and resources to go grow the business and not spend it on professionals and managing administrative issues with regulators etc.

cmengchan      ( Date: 15-Jun-2021 08:57) Posted:

My take is that there is already internal conflict between 2 camps.  Having the previous directors voted out without warning is very unusual.  I would expect some indications that there will be resistance to existing directors prior to the AGM vote.  This felt like a suprised coup to seize control by one of the party.  Not comfortable with this internal conflict as time/energy will be consumed by this fighting instead of the business.  I doubt the situation will reconcil now that it was escalated.  Cleared out all my holdings and moved on.  Having such in-fighting on the same ship will eventually sink the ship.
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LearnHC
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15-Jun-2021 09:36     
 
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 Alert Admin 		Is it because RTO by MCP? Hence directors also changed...
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Skynet4321
Master
15-Jun-2021 09:10     
 
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 Alert Admin 		One thing I learned about business is never say never :)


SujantoHenry      ( Date: 15-Jun-2021 09:02) Posted:

Well said! That is also my take. 

cmengchan      ( Date: 15-Jun-2021 08:57) Posted:

My take is that there is already internal conflict between 2 camps.  Having the previous directors voted out without warning is very unusual.  I would expect some indications that there will be resistance to existing directors prior to the AGM vote.  This felt like a suprised coup to seize control by one of the party.  Not comfortable with this internal conflict as time/energy will be consumed by this fighting instead of the business.  I doubt the situation will reconcil now that it was escalated.  Cleared out all my holdings and moved on.  Having such in-fighting on the same ship will eventually sink the ship.
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