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

sgng123
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07-Mar-2024 23:30     
 
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 Alert Admin 		1 more round of SBB in 2024 would make Ren stake exceed 25%.
Ren current stake ended dec 23 = 23.7%.
Guess next year more exciting when sgx query Ren when his stake breach 25%.
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volvo125
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07-Mar-2024 23:28     
 
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 Alert Admin 		Based on the announcement, the shares are cancelled at $105.271m/276.611m = $0.38 per share. 

Not sure why 0.38 ... but that' s the price YFH management worked out. Probably FIFO and these 276.611m shares were acquired at an average price of $0.38.
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sgng123
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07-Mar-2024 23:18     
 
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 Alert Admin 		YZJFH need Volvo email to remind them to cancel stock?
It does seem right look like whole yzjfh management ignorant of
SGX listing rule...
With Toe gone, Ren taking over it gonna need Volvo email spam to advice them lol.
Ask yzjfh to pay Volvo ft or his service lol

volvo125      ( Date: 07-Mar-2024 23:10) Posted:

I believe YFH Management will address my further questions on YFH FY24 prospect and NPL in an SGX announcement in the form of FAQ soon ..

-------------------------- The content of my 2nd and 3rd email, and IR response.
 
Thank you very much for your prompt reply. Deeply appreciated.
 
I have a further point to add regarding NPL.
 
There was a sudden back to back increase in NPL provision of $47.4mil during 4Q23 (33.8m+8.5m+5.1m), effectively reversing out the earlier write back of $8.5m in 1H23 and $5.1m in 3Q23 (total $13.6m write back) to give a net full year NPL provision of $33.8m. 
 
While the net NPL carrying amount has decreased encouragingly from FY22 $996m to FY23 $653m, the sudden bumped up of $47.4m in 4Q23 seems to suggest that the current $259mil provision pool might still not be sufficient and that more such nasty huge NPL provision could still continue to pop up and dampen future npat. This is a grave concern for the many investors.
 
Appreciate that you could forward this message to YFH management. 
 
Apologize for typo errors as I was typing this mail on the fly with my hp.
 
Thanks a lot.
 
On Tue, 5 Mar 2024, 12:11  pm   wrote:
Hi ,
 
I have forwarded the email to management and they will be reverting back in a FAQs notice that will be uploaded to sgx. 
 
Thanks
 
Regards
Royston
 
On Tue, 5 Mar 2024, 11:32 wrote:
Hi Royston, 
 
Thank you very much for your reply.
 
The 2H23 npat of just ~5$40m was a shell shock to many investors in contrast to the 1H23 npat $162m. This significant decline in the bottomline in 2H is a very worrying sign for YFH prospect in FY24, amidst the further scale down of topline DI interest income to 30% AUM and the still very infant state of other income sources, such as maritime fund and private credits. These new developing income sources are also much smaller in scale as compared to DI too.
 
The share price resumed its drop post FY23 release to now 0.325, in the absence of SBB, is a very blunt negative reaction from the market on YFH prospect.
 
YFH management will need to consider providing more information, probably similar to the FAQ provided during 1H23, to calm the investors on the many doubts and question marks behind the sudden and severe drop in the 2H23 npat,  as well as shed more lights on how YFH intended to positively navigate FY24 prospect.
 
Hopefully YFH management could clarify the 10% limit, since the SBB ratio already exceeded 10%, and consider making a formal sgx announcement to formally advise the investors on YFH intended course of option(s) to take so as to ensure the continuance of SBB.
 
SBB is probably, and hopefully, the only way now to address the further erosion of share prices or shareholder value.
 
Deeply appreciate if you could forward the above message to YFH board and management.
 
Thanks and Regards.
 
# I hold shares in YFH
 
On Mon, 4 Mar 2024, 12:29  pm  wrote:
Hi 
 
Thanks for the email. You are right in your assessment and that ratio has exceeded 10% as of current. The 9.06% ratio was as of 31 Dec 2023. 
 
We will revert with more info upon confirmation with the company secretary. Nonetheless, if your concern is that the share buyback will stop upon crossing the 10% cumulative mark, management has highlighted that it will be a simple procedure of cancelling the treasury shares as they have no intention to use the shares for employee share option for example, and the share buyback will continue when deemed appropriate. 
 



 

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sgng123
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07-Mar-2024 23:14     
 
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 Alert Admin 		It not 1 for 1 in stock market, it the trend that matter.
High would go even higher.
Low would go even lower.
This stock cancellation just end uncertainty on treasury stocks and reboot SBB.
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HVRRVH
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07-Mar-2024 23:10     
 
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 Alert Admin 		Straightforward calculation tells us that 3 cents have been added to the value of existing shares, i.e., value of shares / existing shares = $105, 271, 857.16 / 3, 540, 339, 320 = 0.03. But the market is sophisticated so am not expecting to see share price move up to 35 cents but we shall see. 
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volvo125
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07-Mar-2024 23:10     
 
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 Alert Admin 		I believe YFH Management will address my further questions on YFH FY24 prospect and NPL in an SGX announcement in the form of FAQ soon ..

-------------------------- The content of my 2nd and 3rd email, and IR response.
 
Thank you very much for your prompt reply. Deeply appreciated.
 
I have a further point to add regarding NPL.
 
There was a sudden back to back increase in NPL provision of $47.4mil during 4Q23 (33.8m+8.5m+5.1m), effectively reversing out the earlier write back of $8.5m in 1H23 and $5.1m in 3Q23 (total $13.6m write back) to give a net full year NPL provision of $33.8m. 
 
While the net NPL carrying amount has decreased encouragingly from FY22 $996m to FY23 $653m, the sudden bumped up of $47.4m in 4Q23 seems to suggest that the current $259mil provision pool might still not be sufficient and that more such nasty huge NPL provision could still continue to pop up and dampen future npat. This is a grave concern for the many investors.
 
Appreciate that you could forward this message to YFH management. 
 
Apologize for typo errors as I was typing this mail on the fly with my hp.
 
Thanks a lot.
 
On Tue, 5 Mar 2024, 12:11  pm   wrote:
Hi ,
 
I have forwarded the email to management and they will be reverting back in a FAQs notice that will be uploaded to sgx. 
 
Thanks
 
Regards
Royston
 
On Tue, 5 Mar 2024, 11:32 wrote:
Hi Royston, 
 
Thank you very much for your reply.
 
The 2H23 npat of just ~5$40m was a shell shock to many investors in contrast to the 1H23 npat $162m. This significant decline in the bottomline in 2H is a very worrying sign for YFH prospect in FY24, amidst the further scale down of topline DI interest income to 30% AUM and the still very infant state of other income sources, such as maritime fund and private credits. These new developing income sources are also much smaller in scale as compared to DI too.
 
The share price resumed its drop post FY23 release to now 0.325, in the absence of SBB, is a very blunt negative reaction from the market on YFH prospect.
 
YFH management will need to consider providing more information, probably similar to the FAQ provided during 1H23, to calm the investors on the many doubts and question marks behind the sudden and severe drop in the 2H23 npat,  as well as shed more lights on how YFH intended to positively navigate FY24 prospect.
 
Hopefully YFH management could clarify the 10% limit, since the SBB ratio already exceeded 10%, and consider making a formal sgx announcement to formally advise the investors on YFH intended course of option(s) to take so as to ensure the continuance of SBB.
 
SBB is probably, and hopefully, the only way now to address the further erosion of share prices or shareholder value.
 
Deeply appreciate if you could forward the above message to YFH board and management.
 
Thanks and Regards.
 
# I hold shares in YFH
 
On Mon, 4 Mar 2024, 12:29  pm  wrote:
Hi 
 
Thanks for the email. You are right in your assessment and that ratio has exceeded 10% as of current. The 9.06% ratio was as of 31 Dec 2023. 
 
We will revert with more info upon confirmation with the company secretary. Nonetheless, if your concern is that the share buyback will stop upon crossing the 10% cumulative mark, management has highlighted that it will be a simple procedure of cancelling the treasury shares as they have no intention to use the shares for employee share option for example, and the share buyback will continue when deemed appropriate. 
 



 
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sgng123
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07-Mar-2024 23:08     
 
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 Alert Admin 		Throw them another email to return capital if cannot or unable to utilise 1.3b remit to sg
It very sick for yzjfh to sit on huge cash pile doing nothing while small business in SG close shop.
Don wanna another money laundering case to pop in yzjfh.
Too much cash don wanna invest, pl return it back to investors.

volvo125      ( Date: 07-Mar-2024 22:57) Posted:

Seems like my 1st email to Gem Com, IR of YFH on 4 Mar has gotten the Management to take shares cancellation action .... Ha Ha ... 
 

------- My mail :-
 
Hi, 
 
Some typo errors. The text should read as :
 
Based on the latest SGX SBB announcement on 25 Jan, treasury shares held is 410,249,900 shares, and the number of issued shares after excluding treasury shares is 3,540,339,320. So including treasury shares, the total is 3,950,589,320 shares.
 
410,249,900 divided by 3,950,589,220 = 10.38%. SBB has already exceeded the 10% limit. 
 
Would you kindly clarify why the ratio is still 9.06% ?
 
Thanks.

-------------- Gem Com response :-
 
Thanks for the email. You are right in your assessment and that ratio has exceeded 10% as of current. The 9.06% ratio was as of 31 Dec 2023. 
 
We will revert with more info upon confirmation with the company secretary. Nonetheless, if your concern is that the share buyback will stop upon crossing the 10% cumulative mark, management has highlighted that it will be a simple procedure of cancelling the treasury shares as they have no intention to use the shares for employee share option for example, and the share buyback will continue when deemed appropriate. 
 
Thanks 
 
Regards


276.611m against the original float of 3950m is a huge 7% one time and permanent cancellation !

Well done YFH Management !

 

 


volvo125      ( Date: 05-Mar-2024 12:30) Posted:

From Gem Com, IR of YFH :

I have forwarded the email to management and they will be reverting back in a FAQs notice that will be uploaded to sgx. 
 
Thanks
 
Regards

I have wrote in to seek several clarifications on how YFH would navigate FY24 prospect in view of the severe decline in 2H23 npat, the SBB 10% breach and YFH intended course of actions ... etc. YFH will be putting up a FAQ again in the form of an SGX announcement soon.
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PiRPiR
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07-Mar-2024 23:06     
 
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 Alert Admin 		👍

volvo125      ( Date: 07-Mar-2024 22:57) Posted:

Seems like my 1st email to Gem Com, IR of YFH on 4 Mar has gotten the Management to take shares cancellation action .... Ha Ha ... 
 

------- My mail :-
 
Hi, 
 
Some typo errors. The text should read as :
 
Based on the latest SGX SBB announcement on 25 Jan, treasury shares held is 410,249,900 shares, and the number of issued shares after excluding treasury shares is 3,540,339,320. So including treasury shares, the total is 3,950,589,320 shares.
 
410,249,900 divided by 3,950,589,220 = 10.38%. SBB has already exceeded the 10% limit. 
 
Would you kindly clarify why the ratio is still 9.06% ?
 
Thanks.

-------------- Gem Com response :-
 
Thanks for the email. You are right in your assessment and that ratio has exceeded 10% as of current. The 9.06% ratio was as of 31 Dec 2023. 
 
We will revert with more info upon confirmation with the company secretary. Nonetheless, if your concern is that the share buyback will stop upon crossing the 10% cumulative mark, management has highlighted that it will be a simple procedure of cancelling the treasury shares as they have no intention to use the shares for employee share option for example, and the share buyback will continue when deemed appropriate. 
 
Thanks 
 
Regards


276.611m against the original float of 3950m is a huge 7% one time and permanent cancellation !

Well done YFH Management !

 

 


volvo125      ( Date: 05-Mar-2024 12:30) Posted:

From Gem Com, IR of YFH :

I have forwarded the email to management and they will be reverting back in a FAQs notice that will be uploaded to sgx. 
 
Thanks
 
Regards

I have wrote in to seek several clarifications on how YFH would navigate FY24 prospect in view of the severe decline in 2H23 npat, the SBB 10% breach and YFH intended course of actions ... etc. YFH will be putting up a FAQ again in the form of an SGX announcement soon.
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sgng123
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07-Mar-2024 23:04     
 
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 Alert Admin 		Yzjfh cancel the first batch of SBB in 2022 this time.
second batch next year this time.
They do it as a trend, in 5 year time float shares would be halve to 2b and NTA double, eps depending on how they utilised SG money to make up
for loss income on reduced di.

eddyeddy      ( Date: 07-Mar-2024 22:22) Posted:

Just bewildered, why cancel part of the Treasury shares , but not all ?
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eddyeddy
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07-Mar-2024 23:03     
 
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 Alert Admin 		Thanks Volvo, well done!

volvo125      ( Date: 07-Mar-2024 22:57) Posted:

Seems like my 1st email to Gem Com, IR of YFH on 4 Mar has gotten the Management to take shares cancellation action .... Ha Ha ... 
 

------- My mail :-
 
Hi, 
 
Some typo errors. The text should read as :
 
Based on the latest SGX SBB announcement on 25 Jan, treasury shares held is 410,249,900 shares, and the number of issued shares after excluding treasury shares is 3,540,339,320. So including treasury shares, the total is 3,950,589,320 shares.
 
410,249,900 divided by 3,950,589,220 = 10.38%. SBB has already exceeded the 10% limit. 
 
Would you kindly clarify why the ratio is still 9.06% ?
 
Thanks.

-------------- Gem Com response :-
 
Thanks for the email. You are right in your assessment and that ratio has exceeded 10% as of current. The 9.06% ratio was as of 31 Dec 2023. 
 
We will revert with more info upon confirmation with the company secretary. Nonetheless, if your concern is that the share buyback will stop upon crossing the 10% cumulative mark, management has highlighted that it will be a simple procedure of cancelling the treasury shares as they have no intention to use the shares for employee share option for example, and the share buyback will continue when deemed appropriate. 
 
Thanks 
 
Regards


276.611m against the original float of 3950m is a huge 7% one time and permanent cancellation !

Well done YFH Management !

 

 


volvo125      ( Date: 05-Mar-2024 12:30) Posted:

From Gem Com, IR of YFH :

I have forwarded the email to management and they will be reverting back in a FAQs notice that will be uploaded to sgx. 
 
Thanks
 
Regards

I have wrote in to seek several clarifications on how YFH would navigate FY24 prospect in view of the severe decline in 2H23 npat, the SBB 10% breach and YFH intended course of actions ... etc. YFH will be putting up a FAQ again in the form of an SGX announcement soon.
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volvo125
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07-Mar-2024 22:57     
 
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 Alert Admin 		Seems like my 1st email to Gem Com, IR of YFH on 4 Mar has gotten the Management to take shares cancellation action .... Ha Ha ... 
 

------- My mail :-
 
Hi, 
 
Some typo errors. The text should read as :
 
Based on the latest SGX SBB announcement on 25 Jan, treasury shares held is 410,249,900 shares, and the number of issued shares after excluding treasury shares is 3,540,339,320. So including treasury shares, the total is 3,950,589,320 shares.
 
410,249,900 divided by 3,950,589,220 = 10.38%. SBB has already exceeded the 10% limit. 
 
Would you kindly clarify why the ratio is still 9.06% ?
 
Thanks.

-------------- Gem Com response :-
 
Thanks for the email. You are right in your assessment and that ratio has exceeded 10% as of current. The 9.06% ratio was as of 31 Dec 2023. 
 
We will revert with more info upon confirmation with the company secretary. Nonetheless, if your concern is that the share buyback will stop upon crossing the 10% cumulative mark, management has highlighted that it will be a simple procedure of cancelling the treasury shares as they have no intention to use the shares for employee share option for example, and the share buyback will continue when deemed appropriate. 
 
Thanks 
 
Regards


276.611m against the original float of 3950m is a huge 7% one time and permanent cancellation !

Well done YFH Management !

 

 


volvo125      ( Date: 05-Mar-2024 12:30) Posted:

From Gem Com, IR of YFH :

I have forwarded the email to management and they will be reverting back in a FAQs notice that will be uploaded to sgx. 
 
Thanks
 
Regards

I have wrote in to seek several clarifications on how YFH would navigate FY24 prospect in view of the severe decline in 2H23 npat, the SBB 10% breach and YFH intended course of actions ... etc. YFH will be putting up a FAQ again in the form of an SGX announcement soon.
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HVRRVH
Elite
07-Mar-2024 22:25     
 
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 Alert Admin 		It' s good that YZJF took action to cancel the shares. It really come as a surprise but I guess the circumstances warrant it, or else, YZJF has no more mandate to conduct SBB. Now the NAV per share would not be diluted as and when the treasure shares are put back into the market under whatever situation. So in term of value creation, it is immediate and real. Having said that, how would the market react to it, is hard to say. One thing for sure is that YZJF would step in, and aggressively if necessary, to do SBB. I think 32 could be a battle ground tomorrow if sellers still not convinced but more likely is that the share price should move up beyond 33. Let' s see. 
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eddyeddy
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07-Mar-2024 22:22     
 
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 Alert Admin 		Just bewildered, why cancel part of the Treasury shares , but not all ?
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stonkmaster
Veteran
07-Mar-2024 22:19     
 
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 Alert Admin 		Longest has suffered 2 years of pain and sadness. Hope tomorrow is the start of dawn for us.

sgng123      ( Date: 07-Mar-2024 21:49) Posted:

Tomorrow Friday most likely shortlist would cover position.
YZJFH should just SBB their way to fair value then cancel another
10% reducing total float below 3b shares.
Do SBB for a few year u see NTA and EPS doubling lol.
Lot of big investors smiling now as SBB truly boost NTA with stock cancellation.
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tt_lau
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07-Mar-2024 22:17     
 
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 Alert Admin 		https://links.sgx.com/FileOpen/20240307_Notice%20of%20Cancellation%20of%20Treasury%20Shares.ashx?App=Announcement& FileID=791404

Date of cancellation : 7 March 2024
Purpose of cancellation : Cancellation of excess and unutilised treasury shares to enhance shareholders&rsquo value
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SAVIORFOREVER
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07-Mar-2024 22:01     
 
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 Alert Admin 		Tomorrow how? Flat?


Trade with expectation and DYODD

BinderyT      ( Date: 07-Mar-2024 17:11) Posted:

I looked into my crystal ball and it says " ... as flat as an airport runway" .
 

SAVIORFOREVER      ( Date: 07-Mar-2024 15:31) Posted:

Only contra buyers need to sell. Longist can wait for another year. KNS shortsellers very weak.
Next month, I see only up.

Trade with expectation and DYODD
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sgng123
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07-Mar-2024 21:49     
 
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 Alert Admin 		Tomorrow Friday most likely shortlist would cover position.
YZJFH should just SBB their way to fair value then cancel another
10% reducing total float below 3b shares.
Do SBB for a few year u see NTA and EPS doubling lol.
Lot of big investors smiling now as SBB truly boost NTA with stock cancellation.
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Winnertakeall
Elite
07-Mar-2024 21:28     
 
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 Alert Admin 		Mgmt suddenly cancellation of the treasury shares also to shock the shortsellers for manipulating the shares since listed. Hope they lose big and stay away from this counter.
Let see how it goes tomorrow ?
 

stonkmaster      ( Date: 07-Mar-2024 20:16) Posted:

Surprise. Any impact on the price or will stay flat?

TingHai88      ( Date: 07-Mar-2024 20:13) Posted:

Share cancellation.. Nice!
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sgng123
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07-Mar-2024 20:50     
 
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 Alert Admin 		Quite a surprised they cancel it without going through AGM but nvm.
One of mine prediction came true, stock cancellation.
Next one is capital redistribution if yzjfh still stuck on cash pile with no where to invest due to China US rivalry.
Last prediction is GO
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sgng123
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07-Mar-2024 20:46     
 
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 Alert Admin 		It remove uncertainty on SBB, now market know yzjfh would cancel stock to continue aggressive SBB.
The Amt cancelled =2022 SBB program total amt.
Everyday buy 2mil then cancelled before next AGM, give it another u see 20% of total float disappeared from market.
Cost of borrowing would go up = less profit for shorting.

 
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