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

pasttime
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26-Mar-2024 14:34     
 
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Yells: "gold silver are real money. not others iou."
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 Alert Admin 		once 0.32 sellers dry up and really cleared then 0.325 will be new defence line.
good shares buy back and cancellations. earn from share holders who want exit early.
if 190m earning consider as normal earnings that will be 5.2 cents of profit or 2.1cents of dividend for 2024 already.
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pkli899
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26-Mar-2024 09:56     
 
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 Alert Admin 		I like the constructive exchange between volvo125 & emailpeter.
Good read & learnt a lot.
As for another person, can just ignore.
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sgng123
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26-Mar-2024 07:32     
 
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 Alert Admin 		For now just wait for more news.
No need to average down.
Private credit business too many players chasing it in sg.
SG team in yzjfh disband with VT gone, now left with employee and CEO .
yzjfh is more like a private company than listed one.
Once they dismiss directors board then we know.
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sgng123
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26-Mar-2024 07:21     
 
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 Alert Admin 		Give Ren 1 year then he would give up lol.
Current anti china sentiment too strong and US election Nov
would not change it cos same people running for president.
Ren shrewd businessman, believe he made the correct choice
once all option exhausted.
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sgng123
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26-Mar-2024 07:17     
 
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 Alert Admin 		Just ask urself if u dared to invest money in china themed fund.
yzjfh high potential to distribute excess cash and privatisation as it
basically don had viable business, no debt and a lot of cash.
Free cash value would hit 0.5+ in 1h24, then big investors would press
to unlock value from big cash piles.
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sgng123
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26-Mar-2024 07:12     
 
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 Alert Admin 		Lol just distribute excess cash and do privatisation.
Every investors win and shortlist loses.
Undervalue China based companies follow this trend 
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volvo125
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26-Mar-2024 03:49     
 
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 Alert Admin 		Ha ha ... I can understand. Many people are sored. I am certainly not happy with the 2H23 performance too. RenYL decisively taking back the steering wheel from VT is a wise move and a very positive development in my opinion.

HVRRVH      ( Date: 25-Mar-2024 23:16) Posted:

Agree but it seems that a lot of ' investors' do not wish to have a longer timeframe. Perhaps they wish to see headlines such as ' YZJF invested 500m in Coinbase' , ' YZJF took a stake in XXX AI venture' , ' YZJF bought into XXX AI Chips manufacturer' or even ' YZJF announced purchase of 100m Bitcoins' etc etc. Well, let them take their time to decide what the best use of their huge cash. Meanwhile, we can wait while receiving dividend. 

volvo125      ( Date: 25-Mar-2024 22:42) Posted:

I do not think applying financial engineering in the case of YFH is nonsense, although I certainly agree that YFH must quickly seek out the appropriate investable businesses to replace the exited DI fund that are now only capable of generating Cash/YP return.
 
I am of the opinion that financial engineering in the sense of SBB with cancellation makes sense in YFH because the coy has been buying back shares at ultra deep discount and retiring them to lighten the capital load while getting a big $185m credit balance boost in the RE. This is as if like the coy makes an extra NPAT $185m not distributed which will boost the credit balance of RE up by $185m accordingly in the balance sheet.
 
I think the current capital structure of YFH has proven to be too big due to its urgent strategic intent to rapidly down scale the DI while not able to promptly redeploy the exited DI fund on a major basis to new businesses with equivalent or near equivalent returns. YFH is certainly not short of capital especially in the form of Cash. YFH has too much cash $1.6Bil sitting in the bank and YP earning a very much lower return.
 
YFH can easily scale down DI within a short time with much less issuance vs redemption but finding new businesses with attractive returns and scales in MF/ P& PE/ Pte Credit &hellip . will take time &hellip probably years. There is really no point for investors to KPKB &hellip
 
So, based on Ren indicative !0% AUM cash target or $400m (recent FAQ), until YFH can effectively deploy the $1.2Bil cash (out of the $1.6Bil) to appropriate new businesses with acceptable returns, the lightening of YFH capital structure through share cancellation (with a deep discount some more) is a wise financial re-engineering option to do.
 
YFH used to have a bigger head (DI at > $3.0Bil, NPAT ~$320m) so it can wear a bigger hat. Now with a smaller head due to its urgent strategic DI downscaling and new replacement businesses still far from ready and hence affecting its NPAT adversely, it makes sense to wear a smaller hat to deal with its much smaller businesses now to enhance its ROE.
 
As for MF, DI return is 11~12% pa in the form of interest income at topline before all the expenses and SG& A. In the past when YFH was still churning out NPAT ~$320m with DI at ~90%+ at a capital structure of ~$4Bil, we could assume DI net return at (320/4000) = ~8%. Based on Ren declared MF at 8% return net of expenses (recent FAQ), MF is certainly a good replacement business with scale (US$600m, provided they can fully get ..) for DI with correspondingly far lower risk.
 
Ren specifically mentioned further on Pte Credit with a declared target of US$500mil. I have no clue (returns ?) on how to appraise this.
 
 
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volvo125
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26-Mar-2024 03:26     
 
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 Alert Admin 		  Eh &hellip no, I did not meant BS expansion. In fact, the face value BS shrinks accordingly with the reduction of share capital due to the share cancellation but with an RE boost due to the price difference of issued and cancelled shares, and without this sales of shares RE being paid out as dividend, this reduction of capital exercise was carried out at a much lower than expected reduction in the total asset. Post cancellation, there are now less shares and each share enjoys a higher asset backing and also ROE than without this cancellation exercise.
 
Of course, a far better scenario of selling the treasury shares at a higher price than $0.38 as what you have cited would be ideal to have added cash gain but we all know this is not possible.
 
It is really easy to say a net 8%~12% ROE should not be the aim and that the coy ought to target a net 20%~40% ROE. If YFH was doing a net 8%+ ROE during its high and mighty NPAT $320m days, why do we now unrealistically expect it to even target 20~40% net ROE especially while the coy is still undergoing a radical DI to other new businesses transformation ?
 
I do not think anyone here is &ldquo deluded&rdquo or ignoring the hard facts but like what I have earlier mentioned, getting in the new businesses with DI comparable returns and scale will take time, probably years and in a progressive manner. There is really no need for investors to KPKB.

emailpeter      ( Date: 26-Mar-2024 00:39) Posted:

No Volvo. Your notion of RE and BS being expansion by cancelling shares is opposite. The act of converting cash to its own shares and cancelling is contractionary. I know what you mean is per share accreditation, but that' s a valuation outside of the company. Furthermore for FH being " div in specie" , all the past RE was deemed current fully Paid up Capital. So where is the expansion ?

What is expansion is the purchase at 38c and selling back to market (or exchange for other assets) at 76c or 108c. Then its assets side is expanded by either cash or hard assets with a corresponding increase to RE. And those purchased assets will continue to earn income. Worst, that it cancelled when market price is 32c reeks of negativity on company prospects. In short the SBB at 38c and cancelling when 32c is viewed as short term. Only ST investors would want this to keep going, as its just quick fix to those who try to value quick assets per share, fire sale short timeframe that means.

Which comes back to my base question, what is the company progressing on ? Why is its capital structure too big for you ? Cash and financial products are its income generating assets. Or buying, chartering or flipping boats. We are hoping it expands on that, in fact it should be gearing up to build upon its business. 8 to 12% is not a ROE aim. A good company ought be gearing up to earn 20-40%. Sorry, but many here are not addressing the hard facts, and recent Q& A enlightens little new developments.

volvo125      ( Date: 25-Mar-2024 22:42) Posted:

I do not think applying financial engineering in the case of YFH is nonsense, although I certainly agree that YFH must quickly seek out the appropriate investable businesses to replace the exited DI fund that are now only capable of generating Cash/YP return.
 
I am of the opinion that financial engineering in the sense of SBB with cancellation makes sense in YFH because the coy has been buying back shares at ultra deep discount and retiring them to lighten the capital load while getting a big $185m credit balance boost in the RE. This is as if like the coy makes an extra NPAT $185m not distributed which will boost the credit balance of RE up by $185m accordingly in the balance sheet.
 
I think the current capital structure of YFH has proven to be too big due to its urgent strategic intent to rapidly down scale the DI while not able to promptly redeploy the exited DI fund on a major basis to new businesses with equivalent or near equivalent returns. YFH is certainly not short of capital especially in the form of Cash. YFH has too much cash $1.6Bil sitting in the bank and YP earning a very much lower return.
 
YFH can easily scale down DI within a short time with much less issuance vs redemption but finding new businesses with attractive returns and scales in MF/ P& PE/ Pte Credit &hellip . will take time &hellip probably years. There is really no point for investors to KPKB &hellip
 
So, based on Ren indicative !0% AUM cash target or $400m (recent FAQ), until YFH can effectively deploy the $1.2Bil cash (out of the $1.6Bil) to appropriate new businesses with acceptable returns, the lightening of YFH capital structure through share cancellation (with a deep discount some more) is a wise financial re-engineering option to do.
 
YFH used to have a bigger head (DI at > $3.0Bil, NPAT ~$320m) so it can wear a bigger hat. Now with a smaller head due to its urgent strategic DI downscaling and new replacement businesses still far from ready and hence affecting its NPAT adversely, it makes sense to wear a smaller hat to deal with its much smaller businesses now to enhance its ROE.
 
As for MF, DI return is 11~12% pa in the form of interest income at topline before all the expenses and SG& A. In the past when YFH was still churning out NPAT ~$320m with DI at ~90%+ at a capital structure of ~$4Bil, we could assume DI net return at (320/4000) = ~8%. Based on Ren declared MF at 8% return net of expenses (recent FAQ), MF is certainly a good replacement business with scale (US$600m, provided they can fully get ..) for DI with correspondingly far lower risk.
 
Ren specifically mentioned further on Pte Credit with a declared target of US$500mil. I have no clue (returns ?) on how to appraise this.
 
 
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emailpeter
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26-Mar-2024 00:39     
 
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 Alert Admin 		No Volvo. Your notion of RE and BS being expansion by cancelling shares is opposite. The act of converting cash to its own shares and cancelling is contractionary. I know what you mean is per share accreditation, but that' s a valuation outside of the company. Furthermore for FH being " div in specie" , all the past RE was deemed current fully Paid up Capital. So where is the expansion ?

What is expansion is the purchase at 38c and selling back to market (or exchange for other assets) at 76c or 108c. Then its assets side is expanded by either cash or hard assets with a corresponding increase to RE. And those purchased assets will continue to earn income. Worst, that it cancelled when market price is 32c reeks of negativity on company prospects. In short the SBB at 38c and cancelling when 32c is viewed as short term. Only ST investors would want this to keep going, as its just quick fix to those who try to value quick assets per share, fire sale short timeframe that means.

Which comes back to my base question, what is the company progressing on ? Why is its capital structure too big for you ? Cash and financial products are its income generating assets. Or buying, chartering or flipping boats. We are hoping it expands on that, in fact it should be gearing up to build upon its business. 8 to 12% is not a ROE aim. A good company ought be gearing up to earn 20-40%. Sorry, but many here are not addressing the hard facts, and recent Q& A enlightens little new developments.

volvo125      ( Date: 25-Mar-2024 22:42) Posted:

I do not think applying financial engineering in the case of YFH is nonsense, although I certainly agree that YFH must quickly seek out the appropriate investable businesses to replace the exited DI fund that are now only capable of generating Cash/YP return.
 
I am of the opinion that financial engineering in the sense of SBB with cancellation makes sense in YFH because the coy has been buying back shares at ultra deep discount and retiring them to lighten the capital load while getting a big $185m credit balance boost in the RE. This is as if like the coy makes an extra NPAT $185m not distributed which will boost the credit balance of RE up by $185m accordingly in the balance sheet.
 
I think the current capital structure of YFH has proven to be too big due to its urgent strategic intent to rapidly down scale the DI while not able to promptly redeploy the exited DI fund on a major basis to new businesses with equivalent or near equivalent returns. YFH is certainly not short of capital especially in the form of Cash. YFH has too much cash $1.6Bil sitting in the bank and YP earning a very much lower return.
 
YFH can easily scale down DI within a short time with much less issuance vs redemption but finding new businesses with attractive returns and scales in MF/ P& PE/ Pte Credit &hellip . will take time &hellip probably years. There is really no point for investors to KPKB &hellip
 
So, based on Ren indicative !0% AUM cash target or $400m (recent FAQ), until YFH can effectively deploy the $1.2Bil cash (out of the $1.6Bil) to appropriate new businesses with acceptable returns, the lightening of YFH capital structure through share cancellation (with a deep discount some more) is a wise financial re-engineering option to do.
 
YFH used to have a bigger head (DI at > $3.0Bil, NPAT ~$320m) so it can wear a bigger hat. Now with a smaller head due to its urgent strategic DI downscaling and new replacement businesses still far from ready and hence affecting its NPAT adversely, it makes sense to wear a smaller hat to deal with its much smaller businesses now to enhance its ROE.
 
As for MF, DI return is 11~12% pa in the form of interest income at topline before all the expenses and SG& A. In the past when YFH was still churning out NPAT ~$320m with DI at ~90%+ at a capital structure of ~$4Bil, we could assume DI net return at (320/4000) = ~8%. Based on Ren declared MF at 8% return net of expenses (recent FAQ), MF is certainly a good replacement business with scale (US$600m, provided they can fully get ..) for DI with correspondingly far lower risk.
 
Ren specifically mentioned further on Pte Credit with a declared target of US$500mil. I have no clue (returns ?) on how to appraise this.
 
 

emailpeter      ( Date: 25-Mar-2024 20:47) Posted:

It's wasteful study. As they can't payout more than 11c on this. Sgng was trying to entice nonsense. But its enough for Stingy Ren to
pay some to uplift share price...haha
We shouldn't devote effort to such nonsensical financial engineering.

Our efforts ought be devoted to FH potential business. And deployment of it's cash. What's your take on MF


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HVRRVH
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25-Mar-2024 23:16     
 
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 Alert Admin 		Agree but it seems that a lot of ' investors' do not wish to have a longer timeframe. Perhaps they wish to see headlines such as ' YZJF invested 500m in Coinbase' , ' YZJF took a stake in XXX AI venture' , ' YZJF bought into XXX AI Chips manufacturer' or even ' YZJF announced purchase of 100m Bitcoins' etc etc. Well, let them take their time to decide what the best use of their huge cash. Meanwhile, we can wait while receiving dividend. 

volvo125      ( Date: 25-Mar-2024 22:42) Posted:

I do not think applying financial engineering in the case of YFH is nonsense, although I certainly agree that YFH must quickly seek out the appropriate investable businesses to replace the exited DI fund that are now only capable of generating Cash/YP return.
 
I am of the opinion that financial engineering in the sense of SBB with cancellation makes sense in YFH because the coy has been buying back shares at ultra deep discount and retiring them to lighten the capital load while getting a big $185m credit balance boost in the RE. This is as if like the coy makes an extra NPAT $185m not distributed which will boost the credit balance of RE up by $185m accordingly in the balance sheet.
 
I think the current capital structure of YFH has proven to be too big due to its urgent strategic intent to rapidly down scale the DI while not able to promptly redeploy the exited DI fund on a major basis to new businesses with equivalent or near equivalent returns. YFH is certainly not short of capital especially in the form of Cash. YFH has too much cash $1.6Bil sitting in the bank and YP earning a very much lower return.
 
YFH can easily scale down DI within a short time with much less issuance vs redemption but finding new businesses with attractive returns and scales in MF/ P& PE/ Pte Credit &hellip . will take time &hellip probably years. There is really no point for investors to KPKB &hellip
 
So, based on Ren indicative !0% AUM cash target or $400m (recent FAQ), until YFH can effectively deploy the $1.2Bil cash (out of the $1.6Bil) to appropriate new businesses with acceptable returns, the lightening of YFH capital structure through share cancellation (with a deep discount some more) is a wise financial re-engineering option to do.
 
YFH used to have a bigger head (DI at > $3.0Bil, NPAT ~$320m) so it can wear a bigger hat. Now with a smaller head due to its urgent strategic DI downscaling and new replacement businesses still far from ready and hence affecting its NPAT adversely, it makes sense to wear a smaller hat to deal with its much smaller businesses now to enhance its ROE.
 
As for MF, DI return is 11~12% pa in the form of interest income at topline before all the expenses and SG& A. In the past when YFH was still churning out NPAT ~$320m with DI at ~90%+ at a capital structure of ~$4Bil, we could assume DI net return at (320/4000) = ~8%. Based on Ren declared MF at 8% return net of expenses (recent FAQ), MF is certainly a good replacement business with scale (US$600m, provided they can fully get ..) for DI with correspondingly far lower risk.
 
Ren specifically mentioned further on Pte Credit with a declared target of US$500mil. I have no clue (returns ?) on how to appraise this.
 
 

emailpeter      ( Date: 25-Mar-2024 20:47) Posted:

It's wasteful study. As they can't payout more than 11c on this. Sgng was trying to entice nonsense. But its enough for Stingy Ren to
pay some to uplift share price...haha
We shouldn't devote effort to such nonsensical financial engineering.

Our efforts ought be devoted to FH potential business. And deployment of it's cash. What's your take on MF


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volvo125
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25-Mar-2024 22:42     
 
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 Alert Admin 		I do not think applying financial engineering in the case of YFH is nonsense, although I certainly agree that YFH must quickly seek out the appropriate investable businesses to replace the exited DI fund that are now only capable of generating Cash/YP return.
 
I am of the opinion that financial engineering in the sense of SBB with cancellation makes sense in YFH because the coy has been buying back shares at ultra deep discount and retiring them to lighten the capital load while getting a big $185m credit balance boost in the RE. This is as if like the coy makes an extra NPAT $185m not distributed which will boost the credit balance of RE up by $185m accordingly in the balance sheet.
 
I think the current capital structure of YFH has proven to be too big due to its urgent strategic intent to rapidly down scale the DI while not able to promptly redeploy the exited DI fund on a major basis to new businesses with equivalent or near equivalent returns. YFH is certainly not short of capital especially in the form of Cash. YFH has too much cash $1.6Bil sitting in the bank and YP earning a very much lower return.
 
YFH can easily scale down DI within a short time with much less issuance vs redemption but finding new businesses with attractive returns and scales in MF/ P& PE/ Pte Credit &hellip . will take time &hellip probably years. There is really no point for investors to KPKB &hellip
 
So, based on Ren indicative !0% AUM cash target or $400m (recent FAQ), until YFH can effectively deploy the $1.2Bil cash (out of the $1.6Bil) to appropriate new businesses with acceptable returns, the lightening of YFH capital structure through share cancellation (with a deep discount some more) is a wise financial re-engineering option to do.
 
YFH used to have a bigger head (DI at > $3.0Bil, NPAT ~$320m) so it can wear a bigger hat. Now with a smaller head due to its urgent strategic DI downscaling and new replacement businesses still far from ready and hence affecting its NPAT adversely, it makes sense to wear a smaller hat to deal with its much smaller businesses now to enhance its ROE.
 
As for MF, DI return is 11~12% pa in the form of interest income at topline before all the expenses and SG& A. In the past when YFH was still churning out NPAT ~$320m with DI at ~90%+ at a capital structure of ~$4Bil, we could assume DI net return at (320/4000) = ~8%. Based on Ren declared MF at 8% return net of expenses (recent FAQ), MF is certainly a good replacement business with scale (US$600m, provided they can fully get ..) for DI with correspondingly far lower risk.
 
Ren specifically mentioned further on Pte Credit with a declared target of US$500mil. I have no clue (returns ?) on how to appraise this.
 
 

emailpeter      ( Date: 25-Mar-2024 20:47) Posted:

It's wasteful study. As they can't payout more than 11c on this. Sgng was trying to entice nonsense. But its enough for Stingy Ren to
pay some to uplift share price...haha
We shouldn't devote effort to such nonsensical financial engineering.

Our efforts ought be devoted to FH potential business. And deployment of it's cash. What's your take on MF ?

volvo125      ( Date: 25-Mar-2024 19:37) Posted:

Oh I was just responding to BinderyT comment that YFH RE was not much ... YFH RE had increased from $80m+ in FY22 to $190m+ in FY23, and with this shares cancellation, I would think YFH RE will increase further to $367m in FY24 before the payout of this coming $0.022 div.

No, I do not speculate on any further potential div or capital reduction, and neither do I think RenYL will buy shares using his own money or initiate a GO. I believe Ren will continue to turnaround and transform YFH in his own way
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emailpeter
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25-Mar-2024 20:47     
 
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 Alert Admin 		It's wasteful study. As they can't payout more than 11c on this. Sgng was trying to entice nonsense. But its enough for Stingy Ren to
pay some to uplift share price...haha
We shouldn't devote effort to such nonsensical financial engineering.

Our efforts ought be devoted to FH potential business. And deployment of it's cash. What's your take on MF ?

volvo125      ( Date: 25-Mar-2024 19:37) Posted:

Oh I was just responding to BinderyT comment that YFH RE was not much ... YFH RE had increased from $80m+ in FY22 to $190m+ in FY23, and with this shares cancellation, I would think YFH RE will increase further to $367m in FY24 before the payout of this coming $0.022 div.

No, I do not speculate on any further potential div or capital reduction, and neither do I think RenYL will buy shares using his own money or initiate a GO. I believe Ren will continue to turnaround and transform YFH in his own way.

emailpeter      ( Date: 25-Mar-2024 19:06) Posted:

You are correct in your JE. As FH was a spinoff by way of dividend in specie, the value of equity was taken entirely out of RE of YZJSB. And on the corresponding FH side, all assets & liabilities taken out recorded at market value in BS. Balancing an arbitrarily determined share Cap (incl related amts) of $4152m.

Since the value of share purchase was less than Share Cap, the cancelling adds premium to RE. Which implies divs can be paid out of that. 

I' m not sure what your intentions of such calcs, perhaps you' re speculation on potential divs. 


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volvo125
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25-Mar-2024 19:37     
 
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 Alert Admin 		Oh I was just responding to BinderyT comment that YFH RE was not much ... YFH RE had increased from $80m+ in FY22 to $190m+ in FY23, and with this shares cancellation, I would think YFH RE will increase further to $367m in FY24 before the payout of this coming $0.022 div.

No, I do not speculate on any further potential div or capital reduction, and neither do I think RenYL will buy shares using his own money or initiate a GO. I believe Ren will continue to turnaround and transform YFH in his own way.

emailpeter      ( Date: 25-Mar-2024 19:06) Posted:

You are correct in your JE. As FH was a spinoff by way of dividend in specie, the value of equity was taken entirely out of RE of YZJSB. And on the corresponding FH side, all assets & liabilities taken out recorded at market value in BS. Balancing an arbitrarily determined share Cap (incl related amts) of $4152m.

Since the value of share purchase was less than Share Cap, the cancelling adds premium to RE. Which implies divs can be paid out of that. 

I' m not sure what your intentions of such calcs, perhaps you' re speculation on potential divs. 


volvo125      ( Date: 25-Mar-2024 15:46) Posted:

Not sure if I got it correct. Correct me if I am wrong, or very wrong. I' m not an accountant.
 
Based on the latest balance sheet (1H22) after YFH was spin off in Apr 2022, shares o/s was 3948m, share cap $4152m, retained earning $70.8m. So I take it that YFH was incorporated at 4152/3948 = $1.051 at the point of spin off in Apr 2022. 
 
YFH canceled 276.61m shares at $0.38/share or $105.3m. The accounting entries would be :
Cr treasury stocks $105.3m
Db share cap $290.72m (1.051*276.61)
Cr retained earning $185.42m (290.72-105.3)
 
YFH cancelled the treasury shares at deep discount to the onset issued price in 2024 ($0.38 against $1.051), so retained earning due to this cancelation becomes instead a credit balance that will increase the closing FY23 RE balance from $190.6m to $376m (190.6+376) as of today.
 
Or am I wrong? 
 


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emailpeter
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25-Mar-2024 19:06     
 
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 Alert Admin 		You are correct in your JE. As FH was a spinoff by way of dividend in specie, the value of equity was taken entirely out of RE of YZJSB. And on the corresponding FH side, all assets & liabilities taken out recorded at market value in BS. Balancing an arbitrarily determined share Cap (incl related amts) of $4152m.

Since the value of share purchase was less than Share Cap, the cancelling adds premium to RE. Which implies divs can be paid out of that. 

I' m not sure what your intentions of such calcs, perhaps you' re speculation on potential divs. 


volvo125      ( Date: 25-Mar-2024 15:46) Posted:

Not sure if I got it correct. Correct me if I am wrong, or very wrong. I' m not an accountant.
 
Based on the latest balance sheet (1H22) after YFH was spin off in Apr 2022, shares o/s was 3948m, share cap $4152m, retained earning $70.8m. So I take it that YFH was incorporated at 4152/3948 = $1.051 at the point of spin off in Apr 2022. 
 
YFH canceled 276.61m shares at $0.38/share or $105.3m. The accounting entries would be :
Cr treasury stocks $105.3m
Db share cap $290.72m (1.051*276.61)
Cr retained earning $185.42m (290.72-105.3)
 
YFH cancelled the treasury shares at deep discount to the onset issued price in 2024 ($0.38 against $1.051), so retained earning due to this cancelation becomes instead a credit balance that will increase the closing FY23 RE balance from $190.6m to $376m (190.6+376) as of today.
 
Or am I wrong? 
 


BinderyT      ( Date: 25-Mar-2024 10:37) Posted:

FH doesn' t have much retained earnings and you can' t pay dividends using capital.   Maybe you should familiarise yourself with companies act/listing rules
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Winnertakeall
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25-Mar-2024 18:39     
 
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 Alert Admin 		SBB 429,000 shares @ 0.32
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HVRRVH
Elite
25-Mar-2024 16:59     
 
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 Alert Admin 		Most people talk a lot here actually know very little. I for once admit I do not know a lot but at least I say/post stuff that I know with good intention. So your post may need a while for someone who really know accounting to respond. Do not count on the folks like ' non viable business' , ' stingy Ren' , ' Delisting/capital reduction' , ' Piggy Bank' etc to respond lol. 

volvo125      ( Date: 25-Mar-2024 15:46) Posted:

Not sure if I got it correct. Correct me if I am wrong, or very wrong. I' m not an accountant.
 
Based on the latest balance sheet (1H22) after YFH was spin off in Apr 2022, shares o/s was 3948m, share cap $4152m, retained earning $70.8m. So I take it that YFH was incorporated at 4152/3948 = $1.051 at the point of spin off in Apr 2022. 
 
YFH canceled 276.61m shares at $0.38/share or $105.3m. The accounting entries would be :
Cr treasury stocks $105.3m
Db share cap $290.72m (1.051*276.61)
Cr retained earning $185.42m (290.72-105.3)
 
YFH cancelled the treasury shares at deep discount to the onset issued price in 2024 ($0.38 against $1.051), so retained earning due to this cancelation becomes instead a credit balance that will increase the closing FY23 RE balance from $190.6m to $376m (190.6+376) as of today.
 
Or am I wrong? 
 


BinderyT      ( Date: 25-Mar-2024 10:37) Posted:

FH doesn' t have much retained earnings and you can' t pay dividends using capital.   Maybe you should familiarise yourself with companies act/listing rules
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volvo125
Master
25-Mar-2024 16:43     
 
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 Alert Admin 		Typo RE today = $376m = $190.6+185.42.

volvo125      ( Date: 25-Mar-2024 15:46) Posted:

Not sure if I got it correct. Correct me if I am wrong, or very wrong. I' m not an accountant.
 
Based on the latest balance sheet (1H22) after YFH was spin off in Apr 2022, shares o/s was 3948m, share cap $4152m, retained earning $70.8m. So I take it that YFH was incorporated at 4152/3948 = $1.051 at the point of spin off in Apr 2022. 
 
YFH canceled 276.61m shares at $0.38/share or $105.3m. The accounting entries would be :
Cr treasury stocks $105.3m
Db share cap $290.72m (1.051*276.61)
Cr retained earning $185.42m (290.72-105.3)
 
YFH cancelled the treasury shares at deep discount to the onset issued price in 2024 ($0.38 against $1.051), so retained earning due to this cancelation becomes instead a credit balance that will increase the closing FY23 RE balance from $190.6m to $376m (190.6+376) as of today.
 
Or am I wrong? 
 


BinderyT      ( Date: 25-Mar-2024 10:37) Posted:

FH doesn' t have much retained earnings and you can' t pay dividends using capital.   Maybe you should familiarise yourself with companies act/listing rules
 Useful To Me  Not Useful To Me
volvo125
Master
25-Mar-2024 15:46     
 
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 Alert Admin 		Not sure if I got it correct. Correct me if I am wrong, or very wrong. I' m not an accountant.
 
Based on the latest balance sheet (1H22) after YFH was spin off in Apr 2022, shares o/s was 3948m, share cap $4152m, retained earning $70.8m. So I take it that YFH was incorporated at 4152/3948 = $1.051 at the point of spin off in Apr 2022. 
 
YFH canceled 276.61m shares at $0.38/share or $105.3m. The accounting entries would be :
Cr treasury stocks $105.3m
Db share cap $290.72m (1.051*276.61)
Cr retained earning $185.42m (290.72-105.3)
 
YFH cancelled the treasury shares at deep discount to the onset issued price in 2024 ($0.38 against $1.051), so retained earning due to this cancelation becomes instead a credit balance that will increase the closing FY23 RE balance from $190.6m to $376m (190.6+376) as of today.
 
Or am I wrong? 
 


BinderyT      ( Date: 25-Mar-2024 10:37) Posted:

FH doesn' t have much retained earnings and you can' t pay dividends using capital.   Maybe you should familiarise yourself with companies act/listing rules.

sgng123      ( Date: 25-Mar-2024 03:19) Posted:

Lol SBB in defending only. To move stock price either Ren go into market to buy or yzjfh undergo capital reduction and released 
excess cash to investors. Either happen shortist would be forced to cover at all cost as they need to return borrowed stocks ASAP
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SAVIORFOREVER
Supreme
25-Mar-2024 13:15     
 
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 Alert Admin 		You know what ppl do with rubbish. They tossed it away.


Trade with hopeless and DYODD

BinderyT      ( Date: 25-Mar-2024 10:37) Posted:

FH doesn' t have much retained earnings and you can' t pay dividends using capital.   Maybe you should familiarise yourself with companies act/listing rules.

sgng123      ( Date: 25-Mar-2024 03:19) Posted:

Lol SBB in defending only. To move stock price either Ren go into market to buy or yzjfh undergo capital reduction and released 
excess cash to investors. Either happen shortist would be forced to cover at all cost as they need to return borrowed stocks ASAP
 Useful To Me  Not Useful To Me
BinderyT
Elite
25-Mar-2024 10:37     
 
BinderyT About Contact  Quote this Post!  
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 Alert Admin 		FH doesn' t have much retained earnings and you can' t pay dividends using capital.   Maybe you should familiarise yourself with companies act/listing rules.

sgng123      ( Date: 25-Mar-2024 03:19) Posted:

Lol SBB in defending only. To move stock price either Ren go into market to buy or yzjfh undergo capital reduction and released 
excess cash to investors. Either happen shortist would be forced to cover at all cost as they need to return borrowed stocks ASAP.

MambaFinancial89      ( Date: 22-Mar-2024 15:10) Posted:

Let' s ask this question directly to Ren and the Board during the AGM. 
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