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Latest Forum Topics / YZJ Fin Hldg    Last:0.24    +0.005  Post Reply
YZJFH - potentially rewarding

volvo125
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12-Apr-2024 16:41     
 
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 Alert Admin 		I would think he can certainly and easily do it if he wants to. He can do it with some form of an LBO and banks will all flock in to support the deal because there is an ultra big value gap between the NAV and the current share price. The LBO cost (interest and advisory costs) required by the banks is peanut in contrast to the insanely huge value gap even if Ren offers a 50% or even 75% premium at the prevailing price to buy out. 
 
But I do not think this is in Ren' s mind, at least not in the medium term. I believe he wants to grow YFH just as what he did in YSB years ago.
 


qx1234      ( Date: 12-Apr-2024 16:09) Posted:

Does Ren and family even have enough disposable resources to do a takeover and does it benefit him and family to do that? You need this two condition to be satisfied for him to make this move. 

Assuming he does have enough one would assume that many owners will hang up and sell because 106 cts of NAV nobody want to sell cheap. but Ren would also not want to spend a lot to buy out the rest because the higher it goes to 106 the less juicy it is. So i highly doubt it will happen. at least not anytime soon. 

If it does then congrats to all who are vested here. 

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pkli899
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12-Apr-2024 16:38     
 
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 Alert Admin 		本 来 是 说 无 风 不 起 浪
可 是 ， 这 里 浪 是 人 制 造 。 。 。 假 的 。
所 有 ， 不 必 理 会 。
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qx1234
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12-Apr-2024 16:09     
 
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 Alert Admin 		Does Ren and family even have enough disposable resources to do a takeover and does it benefit him and family to do that? You need this two condition to be satisfied for him to make this move. 

Assuming he does have enough one would assume that many owners will hang up and sell because 106 cts of NAV nobody want to sell cheap. but Ren would also not want to spend a lot to buy out the rest because the higher it goes to 106 the less juicy it is. So i highly doubt it will happen. at least not anytime soon. 

If it does then congrats to all who are vested here. 
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volvo125
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12-Apr-2024 16:02     
 
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 Alert Admin 		The definition of Ren and party includes himself RenYL and his son RenLT, which is now still under 30%. Lido point ~10% under Wangdong is not inside the definition. 

Ren and party cannot buy only upon the issuance of AGM notice until on the day of the AGM when the old sbb mandate expires in order to exempt from a takeover obligation. Ren can buy any amount he wishes or symbolically immediately after the new sbb mandate is passed in this coming AGM until the next AGM notice even though his holding exceeds 30% at some point going forward with no takeover obligation.

sgng123      ( Date: 12-Apr-2024 14:56) Posted:

Did Ren buy anything during last 2 years? He never loh.
That clause just to protect Ren ass if his stake > 30% but he never act just a insurance move.
Everyone waiting for bb to force a capital redistribution if yzjfh management still continue in current state.
Ren and company only control 40% unless he increase his stake to over 50%.

volvo125      ( Date: 12-Apr-2024 14:16) Posted:

No, I do not think delisting or a GO is in Ren' s mind. Check p177 of the AR.

Shareholders are advised that by voting in favour of the ordinary resolution relating to the renewal of the Share Purchase Mandate, they will be waiving their rights to a take-over offer at the required price from the Ren Concert Party Group who, as a result of the purchase or acquisition of Shares by the Company pursuant to the Share Purchase Mandate, would increase their aggregate interest in the Shares to 30% or more.

Ren and party will abstain from voting on the new sbb renewal mandate. The new sbb renewal mandate will still passed in favor by majority of all the remaining shareholders in their vested interests. The > 30% takeover obligation will be waived until the next AGM even as YFH continues to sbb going forward and Ren' s and/or Ren' s party holdings exceeds 30% or more due to sbb in FY24. 

No delisting or GO. Ren will continue to turnaround and transform YFH in his own way. The ex senior SGX and MAS figureheads are still firmly intact in the Board inspite of VT departure so this is a very good sign that the stability at the apex is still very sound. This is my reading from the underlying tone in the AR.   
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sgng123
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12-Apr-2024 15:48     
 
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 Alert Admin 		Difficult for china companies to expand globally as america go banana and indiscrimally blacklist china company.
Time for yzjfh to conduct business review later after AGM .
Imagine capital redistribution $0.25  to all holder without tax , distributing last year china transfer of 900m.
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sgng123
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12-Apr-2024 14:56     
 
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 Alert Admin 		Did Ren buy anything during last 2 years? He never loh.
That clause just to protect Ren ass if his stake > 30% but he never act just a insurance move.
Everyone waiting for bb to force a capital redistribution if yzjfh management still continue in current state.
Ren and company only control 40% unless he increase his stake to over 50%.

volvo125      ( Date: 12-Apr-2024 14:16) Posted:

No, I do not think delisting or a GO is in Ren' s mind. Check p177 of the AR.

Shareholders are advised that by voting in favour of the ordinary resolution relating to the renewal of the Share Purchase Mandate, they will be waiving their rights to a take-over offer at the required price from the Ren Concert Party Group who, as a result of the purchase or acquisition of Shares by the Company pursuant to the Share Purchase Mandate, would increase their aggregate interest in the Shares to 30% or more.

Ren and party will abstain from voting on the new sbb renewal mandate. The new sbb renewal mandate will still passed in favor by majority of all the remaining shareholders in their vested interests. The > 30% takeover obligation will be waived until the next AGM even as YFH continues to sbb going forward and Ren' s and/or Ren' s party holdings exceeds 30% or more due to sbb in FY24. 

No delisting or GO. Ren will continue to turnaround and transform YFH in his own way. The ex senior SGX and MAS figureheads are still firmly intact in the Board inspite of VT departure so this is a very good sign that the stability at the apex is still very sound. This is my reading from the underlying tone in the AR.   

YibaoI      ( Date: 12-Apr-2024 11:26) Posted:

to be honest, yzjfh management their agenda seems like they want to do shares buyback but at the mimum so as not to pop up the share prices so they can keep defending the price if neccessary but intention not to raise up the share price by big margin. It is not in totally in sync with small investors

possible delist is one of their consideration but also possible they saving their cash for something big in near to mid future.

no matter what the case. if price is low keep holding for dividend and if they delist we also earn as they will have to offer something good with so much cash currently.

Like recent singapore Isetan case. share price at 2+ dollars then suddenly announce delist and buyback at 7 dollars subject to AGM approval and share price immediately shot up all the way.
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sgng123
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12-Apr-2024 14:48     
 
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 Alert Admin 		Everything is possible loh. Just KIV free cash per yzjfh currently at $0.448.
As more NPL recovered free cash value would go over 50% book value.
Not to mention with appro 5% SBB yearly, total outstanding shares could be reduced below 3b in 2 years.
More shares cancelked =  higher adjusted free cash value per share.
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pkli899
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12-Apr-2024 14:47     
 
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 Alert Admin 		Agree with volvo125. I do not think there will any GO, takeover or whatever u call it.
At least not in the near term when company still haven' t prove itself.
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BinderyT
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12-Apr-2024 14:34     
 
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 Alert Admin 		My opinion is that SBB is a waste of money.   It has negligible effect on share price and shrinks the funds available for investment.   Too much money, just outright payout as dividend.
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volvo125
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12-Apr-2024 14:16     
 
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 Alert Admin 		No, I do not think delisting or a GO is in Ren' s mind. Check p177 of the AR.

Shareholders are advised that by voting in favour of the ordinary resolution relating to the renewal of the Share Purchase Mandate, they will be waiving their rights to a take-over offer at the required price from the Ren Concert Party Group who, as a result of the purchase or acquisition of Shares by the Company pursuant to the Share Purchase Mandate, would increase their aggregate interest in the Shares to 30% or more.

Ren and party will abstain from voting on the new sbb renewal mandate. The new sbb renewal mandate will still passed in favor by majority of all the remaining shareholders in their vested interests. The > 30% takeover obligation will be waived until the next AGM even as YFH continues to sbb going forward and Ren' s and/or Ren' s party holdings exceeds 30% or more due to sbb in FY24. 

No delisting or GO. Ren will continue to turnaround and transform YFH in his own way. The ex senior SGX and MAS figureheads are still firmly intact in the Board inspite of VT departure so this is a very good sign that the stability at the apex is still very sound. This is my reading from the underlying tone in the AR.   

YibaoI      ( Date: 12-Apr-2024 11:26) Posted:

to be honest, yzjfh management their agenda seems like they want to do shares buyback but at the mimum so as not to pop up the share prices so they can keep defending the price if neccessary but intention not to raise up the share price by big margin. It is not in totally in sync with small investors

possible delist is one of their consideration but also possible they saving their cash for something big in near to mid future.

no matter what the case. if price is low keep holding for dividend and if they delist we also earn as they will have to offer something good with so much cash currently.

Like recent singapore Isetan case. share price at 2+ dollars then suddenly announce delist and buyback at 7 dollars subject to AGM approval and share price immediately shot up all the way.
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eddyeddy
Master
12-Apr-2024 13:08     
 
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 Alert Admin 		If we ask them whether they will.take private , their answer is always standard.. Not in their discussion currently.
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YibaoI
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12-Apr-2024 13:03     
 
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 Alert Admin 		I agreed also they will most likely wont go to 69 cents.
They do however need to offer something better than current price if they want the approval to proceed, think somewhere around 45-50 cents or higher. 

Myself i prefer they continue their plan to list at china and give us stable dividend and prices go up gradually for my retirement planning. but delist is a possiblity. dyodd

will go to their agm to see what they present. hope people post more questions for them at agm

 
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pursuer76
Veteran
12-Apr-2024 12:24     
 
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 Alert Admin 		Isetan case is unique. Cannot compare. I doubt YZJFH will even offer the listing price of $0.69 if I remember correctly. They will probably follow the books.

YibaoI      ( Date: 12-Apr-2024 11:26) Posted:

to be honest, yzjfh management their agenda seems like they want to do shares buyback but at the mimum so as not to pop up the share prices so they can keep defending the price if neccessary but intention not to raise up the share price by big margin. It is not in totally in sync with small investors

possible delist is one of their consideration but also possible they saving their cash for something big in near to mid future.

no matter what the case. if price is low keep holding for dividend and if they delist we also earn as they will have to offer something good with so much cash currently.

Like recent singapore Isetan case. share price at 2+ dollars then suddenly announce delist and buyback at 7 dollars subject to AGM approval and share price immediately shot up all the way.
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YibaoI
Senior
12-Apr-2024 11:26     
 
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 Alert Admin 		to be honest, yzjfh management their agenda seems like they want to do shares buyback but at the mimum so as not to pop up the share prices so they can keep defending the price if neccessary but intention not to raise up the share price by big margin. It is not in totally in sync with small investors

possible delist is one of their consideration but also possible they saving their cash for something big in near to mid future.

no matter what the case. if price is low keep holding for dividend and if they delist we also earn as they will have to offer something good with so much cash currently.

Like recent singapore Isetan case. share price at 2+ dollars then suddenly announce delist and buyback at 7 dollars subject to AGM approval and share price immediately shot up all the way.
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sgng123
Supreme
11-Apr-2024 07:40     
 
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 Alert Admin 		Chop off the board better since yzjfh would be stuck with current situation high cash no viable SG business lol.
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MrBear12
Supreme
09-Apr-2024 23:21     
 
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 Alert Admin 		Actually I do not mind paying for a good independent director.
The quality of the directors on board is really critical for the company to grow.

A time to re-focus on good corporate governance?

Clean up the BOARD.
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sgng123
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09-Apr-2024 23:18     
 
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 Alert Admin 		Go for minimum just enough to meet listing requirement.
yzjfh reduced to saving account company with very huge cash pile.
Big investors would press hard for future deployment of cash in SG on AGM.
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MrBear12
Supreme
09-Apr-2024 22:54     
 
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 Alert Admin 		I think they still need a certain number of directors on board.
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sgng123
Supreme
09-Apr-2024 22:42     
 
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 Alert Admin 		Directors getting paid for doing nothing, time to cut cost by reducing board size.
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MrBear12
Supreme
09-Apr-2024 21:10     
 
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Yells: "Cast all our anxieties on Jesus for He cares for us"
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 Alert Admin 		I think you guys are going great analysing the annual report together.
Bring this spirit to the other chats please.

Thank you!
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