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mepkoh Elite	24-Nov-2016 15:07        mepkoh About Contact  Quote this Post!
x 0   x 0  Alert Admin	mgt just lost their way..as far as minority shareholders are concerned.. when they ipo procurri..any benefit to shareholders?? they only take care of themselves only sheerluck      ( Date: 24-Nov-2016 15:04) Posted: Already have you one possible reason. sheerluck      ( Date: 22-Nov-2016 11:25) Posted: Their buyback price of 31.5cts is 2x their NAV.   That doesn' t sound like they are doing the company shareholders any good. Open market share buyback is also better than their proposed method.
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sheerluck Supreme	24-Nov-2016 15:04        sheerluck About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Work for your money first then let your money work for you"
x 0   x 0  Alert Admin	Already have you one possible reason. sheerluck      ( Date: 22-Nov-2016 11:25) Posted: Their buyback price of 31.5cts is 2x their NAV.   That doesn' t sound like they are doing the company shareholders any good. Open market share buyback is also better than their proposed method.   sheerluck      ( Date: 22-Nov-2016 02:17) Posted: First time see this way to rewards shareholders.   But actually long term wise major shareholder who are company executive benefits in the end.   Why? If the company give out that $7.2mil as dividend, then each share gets 1.07cts.   So for 100lots, div payout is $1070 giving a total of $21,070 (so comparing with the $20,391 from sharebuyback, this one slightly more " exciting" ?).   So this sharebuyback really doesn' t benefit everyone (including the major shareholder which then make this whole scheme looks fair) much in terms of monetary values.   For this way to reward shareholder you lose 3.4% holding for a net gain of only $391.  The div method is better becos you keep all your shares and get $1070. Now what happen to those shares being bought back?   Ended up as company tresuary shares and who can benefit from them?   Every quarter and year-end are oppounity to rewards mgmt for good performance.   They can get back that 3.4% shares or more without spending a penny.   So they can accelerate the stake up.   WHy I say accelerate?   They dilute you anyway through the share award.   But taking away some of your share at the same time just make it faster. On price action, the buyback can be more deceiving becos many time peole don' t read announcement carefully and they can read it as " buy back your share @31.5cts" .   So ended up shooting the price to 30.5-31cts before retracting quickly so don' t be surprise if that happens and don' t be surprise that it was done by a bunch of people who don' t spend enough time reading annonucement.   Anyway if it does happen, market will quickly take advantages of them. Anyway, if you vote against this, company might keep the monies and dont give out, you lan lan.   Unless you are major enough to call the shot, you should request company to just give that $7.2 mil as dividend.   Simple and straightaway.   When company come out with such " scheme" , there are reasons for it.   But too bad, most probably ended up having to accept their " scheme" . Scheming or am I dreaming? DYDD.
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mepkoh Elite	24-Nov-2016 14:31        mepkoh About Contact  Quote this Post!
x 0   x 0  Alert Admin	wtf..3.4% buy back with say 14 cts premium.. if u spread the $400 or so gain..haha over 100000 shares..what u get is .. do the calculations..is it worth it?? after the share price collapse ... wtf..vote the buy back down.. dont forget to send forms back ...if u cannot attend investshare      ( Date: 24-Nov-2016 14:24) Posted: The management said they are not writing off the shares. (This begs another question, what are they going to do with the shares? As bonus for management?) But the question here is on Balance sheet, when you purchase something, you actually transfer trom one asset to another. In this case, cash to share. Eg: Before: Asset: Cash   $100   After (assume spend $40 to buy $40 worth of share): Cash   $60 Share $40   But now the issue is, they are using $40 to buy $20 worth of share Before: Asset: Cash   $100   After (assume spend $40 to buy $20 worth of share): Cash   $60 Share $20 Goodwill $20  The before and after must be balance, so there will be a Goodwill $20. But isnt it strange to give ownself goodwill? MichaelSchenker      ( Date: 24-Nov-2016 12:56) Posted: Depending on how we look at it. I see it as something like a reversal of a rights issue. Not too sure about this, but I guess they may write off the shares. Then again, what is the objective of the whole exercise? If they claim reward shareholders, I' ll say bullshit! They just refuse to let shareholders touch the money.
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investshare Supreme	24-Nov-2016 14:24        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	The management said they are not writing off the shares. (This begs another question, what are they going to do with the shares? As bonus for management?) But the question here is on Balance sheet, when you purchase something, you actually transfer trom one asset to another. In this case, cash to share. Eg: Before: Asset: Cash   $100   After (assume spend $40 to buy $40 worth of share): Cash   $60 Share $40   But now the issue is, they are using $40 to buy $20 worth of share Before: Asset: Cash   $100   After (assume spend $40 to buy $20 worth of share): Cash   $60 Share $20 Goodwill $20  The before and after must be balance, so there will be a Goodwill $20. But isnt it strange to give ownself goodwill? MichaelSchenker      ( Date: 24-Nov-2016 12:56) Posted: Depending on how we look at it. I see it as something like a reversal of a rights issue. Not too sure about this, but I guess they may write off the shares. Then again, what is the objective of the whole exercise? If they claim reward shareholders, I' ll say bullshit! They just refuse to let shareholders touch the money. investshare      ( Date: 24-Nov-2016 12:23) Posted: Since they buy the shares at higher than market price, how to account for the difference in the book? Goodwill? Or write off on day 1?
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MichaelSchenker Master	24-Nov-2016 12:56        MichaelSchenker About Contact  Quote this Post!
x 0   x 0  Alert Admin	Depending on how we look at it. I see it as something like a reversal of a rights issue. Not too sure about this, but I guess they may write off the shares. Then again, what is the objective of the whole exercise? If they claim reward shareholders, I' ll say bullshit! They just refuse to let shareholders touch the money. investshare      ( Date: 24-Nov-2016 12:23) Posted: Since they buy the shares at higher than market price, how to account for the difference in the book? Goodwill? Or write off on day 1?
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investshare Supreme	24-Nov-2016 12:36        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	If see from another angle, is it a share price manipulation?
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investshare Supreme	24-Nov-2016 12:23        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	Since they buy the shares at higher than market price, how to account for the difference in the book? Goodwill? Or write off on day 1?
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MichaelSchenker Master	24-Nov-2016 10:01        MichaelSchenker About Contact  Quote this Post!
x 0   x 0  Alert Admin	Well said! Sadly, I' ll still a holder, a disappointed holder waiting to throw away every single share. Shareholders should grill the management during the coming EGM. I' ll try to make it, not gonna give a shit about all this rubbish dished out by the management. Those attending, please give them hell. einvar      ( Date: 24-Nov-2016 09:50) Posted: Net cash doesn' t matter if management cannot and is not willing to return it back to shareholders in a proper manner - see that convoluted share buyback scheme which for $7.2m, I have no idea why they even spent time crafting that ridiculous thing. There are many other net cash companies on SGX which offer much more solid business fundamentals. Let us take a look at their so-called VDCs, an acronym which could have been easily replaced with " internet businesses" instead of using a term which nobody other than themselves will understand. Corous360 - apparently they own two platforms called Zippi and PLAYe - for multimedia and gaming respectively. I am sure nobody has heard of them. Just google zippi. The results are hilarious. And what is PLAYe? It seems like it is actually a video game and video game platform store like Qisahn (with much crappier website design). A software / hardware retailer would fit the bill better than a " VDC" . What' s Procurri? It' s actually a karang guni selling second hand data center /server parts despite its equally confusing prospectus. Should such companies command > 15x P/E? I doubt so.
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einvar Member	24-Nov-2016 09:50        einvar About Contact  Quote this Post!
x 0   x 0  Alert Admin	Net cash doesn' t matter if management cannot and is not willing to return it back to shareholders in a proper manner - see that convoluted share buyback scheme which for $7.2m, I have no idea why they even spent time crafting that ridiculous thing. There are many other net cash companies on SGX which offer much more solid business fundamentals. Let us take a look at their so-called VDCs, an acronym which could have been easily replaced with " internet businesses" instead of using a term which nobody other than themselves will understand. Corous360 - apparently they own two platforms called Zippi and PLAYe - for multimedia and gaming respectively. I am sure nobody has heard of them. Just google zippi. The results are hilarious. And what is PLAYe? It seems like it is actually a video game and video game platform store like Qisahn (with much crappier website design). A software / hardware retailer would fit the bill better than a " VDC" . What' s Procurri? It' s actually a karang guni selling second hand data center /server parts despite its equally confusing prospectus. Should such companies command > 15x P/E? I doubt so.
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mariners Senior	24-Nov-2016 01:35        mariners About Contact  Quote this Post! Style: Combined   Yells: "FA tells me what to buy, TA tells me when to buy"
x 0   x 0  Alert Admin	while we are focus on the wierd share buyback scheme. let us also look at it's FA where it is now net cash
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n3wbie Elite	22-Nov-2016 23:14        n3wbie About Contact  Quote this Post! Style: Fundamental
x 0   x 0  Alert Admin	complex business structure - complex schemes - complex shareholders. so are you game enough, if not why waste time on this?
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dragonboy76 Master	22-Nov-2016 22:19        dragonboy76 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Business structure is to complex for shareholder to understand.
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MichaelSchenker Master	22-Nov-2016 21:53        MichaelSchenker About Contact  Quote this Post!
x 0   x 0  Alert Admin	True that! It' s really mind boggling why this couldn' t move up. Nothing wrong with the company and it could be easily 30 to 40 cents by now. I think it' s most likely due to poor management, due to public shareholders confidence. I don' t I' ll ever want to hold this stock anymore. Good news can become bad. Can' t imagine what is gonna happen if bad news have to be reported? Cutting loss soon" ....." ...... n3wbie      ( Date: 22-Nov-2016 21:13) Posted: today' s closing at day low does not bode well for the stock...
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n3wbie Elite	22-Nov-2016 21:13        n3wbie About Contact  Quote this Post! Style: Fundamental
x 0   x 0  Alert Admin	today' s closing at day low does not bode well for the stock...
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mepkoh Elite	22-Nov-2016 14:41        mepkoh About Contact  Quote this Post!
x 0   x 0  Alert Admin	fuxx up buy back... the only thing we can do is to vote the proposal down.. i will.. investshare      ( Date: 22-Nov-2016 11:48) Posted: quite messy deal ...
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investshare Supreme	22-Nov-2016 11:48        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	quite messy deal ...
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sheerluck Supreme	22-Nov-2016 11:25        sheerluck About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Work for your money first then let your money work for you"
x 0   x 0  Alert Admin	Their buyback price of 31.5cts is 2x their NAV.   That doesn' t sound like they are doing the company shareholders any good. Open market share buyback is also better than their proposed method.   sheerluck      ( Date: 22-Nov-2016 02:17) Posted: First time see this way to rewards shareholders.   But actually long term wise major shareholder who are company executive benefits in the end.   Why? If the company give out that $7.2mil as dividend, then each share gets 1.07cts.   So for 100lots, div payout is $1070 giving a total of $21,070 (so comparing with the $20,391 from sharebuyback, this one slightly more " exciting" ?).   So this sharebuyback really doesn' t benefit everyone (including the major shareholder which then make this whole scheme looks fair) much in terms of monetary values.   For this way to reward shareholder you lose 3.4% holding for a net gain of only $391.  The div method is better becos you keep all your shares and get $1070. Now what happen to those shares being bought back?   Ended up as company tresuary shares and who can benefit from them?   Every quarter and year-end are oppounity to rewards mgmt for good performance.   They can get back that 3.4% shares or more without spending a penny.   So they can accelerate the stake up.   WHy I say accelerate?   They dilute you anyway through the share award.   But taking away some of your share at the same time just make it faster. On price action, the buyback can be more deceiving becos many time peole don' t read announcement carefully and they can read it as " buy back your share @31.5cts" .   So ended up shooting the price to 30.5-31cts before retracting quickly so don' t be surprise if that happens and don' t be surprise that it was done by a bunch of people who don' t spend enough time reading annonucement.   Anyway if it does happen, market will quickly take advantages of them. Anyway, if you vote against this, company might keep the monies and dont give out, you lan lan.   Unless you are major enough to call the shot, you should request company to just give that $7.2 mil as dividend.   Simple and straightaway.   When company come out with such " scheme" , there are reasons for it.   But too bad, most probably ended up having to accept their " scheme" . Scheming or am I dreaming? DYDD. HazardKoh      ( Date: 22-Nov-2016 00:06) Posted: Assuming you bought 100 lots  at 20 cents ==> $20000 You are allowed to sell to them 3.4% at 31.5 cents ==> 3.4 lots at $1071 So you are left with 96.6 lots. Assume you can sell at 20cents ==> $19320 So total = $20391. ==> Earning of $391 assuming you can sell off at 20 cents. Hardly " exciting" about it..
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n3wbie Elite	22-Nov-2016 11:23        n3wbie About Contact  Quote this Post! Style: Fundamental
x 0   x 0  Alert Admin	sorry all, ignore that post, meant that for CNMC! was dropping in here to kaypoh n3wbie      ( Date: 22-Nov-2016 11:21) Posted: gold prices are trending upwards nicely, strong fibonacci support at $1211, trend reversal looks on track for now. also, Russia added record gold last month as reported yesterday -  http://seekingalpha.com/article/4025062-russia-adds-record-1_3-million-ounces-gold-october
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n3wbie Elite	22-Nov-2016 11:21        n3wbie About Contact  Quote this Post! Style: Fundamental
x 0   x 0  Alert Admin	gold prices are trending upwards nicely, strong fibonacci support at $1211, trend reversal looks on track for now. also, Russia added record gold last month as reported yesterday -  http://seekingalpha.com/article/4025062-russia-adds-record-1_3-million-ounces-gold-october
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HVRRVH Elite	22-Nov-2016 11:00        HVRRVH About Contact  Quote this Post!
x 0   x 0  Alert Admin	Price up yesterday before the announcement. Who buy up? Who is selling today?
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