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OUE shores up support for OUELH again by beefing its stake
OUE on Tuesday said it has signed a share purchase agreement with Tokyo-listed Itochu Corporation to purchase about 266.6 million shares, or a 6 per cent stake, in OUE Lippo Healthcare (OUELH) for about S$27.7 million in cash, equivalent to S$0.10375 per share.
The consideration is about 2.5 times OUELH' s closing price of S$0.041 on Tuesday, which may hint at another move from OUE to support OUELH, after the developer last month agreed to convert S$189.6 million of its shareholder loans to OUELH to perpetual bonds to enable the healthcare unit to reset and be better placed to tap capital markets to fund its future growth.
The latest announced share sale is expected to take place before the end of March. Following the transaction, Itochu' s subsidiary Browny Healthcare will have a balance 19.32 per cent in OUELH, while OUE will hold about 70.36 per cent.
OUE also signed a new memorandum of understanding with Itochu, undertaking that it will seek to maintain its majority shareholding by not selling its OUELH shares, and will even purchase Browny Healthcare' s shares at fair market value if certain trigger events based on the financial results and operations of OUELH occur from now till December 2025.
The put option is also exercisable if an order or a resolution for winding up, judicial management, dissolution or administration of OUELH is made before end-December 2025.
The MOU will cease if both sides agree, or if Browny Healthcare ceases to hold at least 19 per cent of OUELH, or if Browny Healthcare sees its stake fall below 15 per cent as a result of it failing to take up its pro-rata proportion of shares in the event of any rights issue undertaken by OUELH.
OUE said this transaction " extends the strategic partnership with Itochu" and is in line with the group' s commitment to the longer-term prospects of OUELH' s healthcare business. It will allow OUELH to focus on executing its longer-term business plan with the firm support of its key stakeholders.
Itochu first took a strategic stake in OUELH in February 2018 with a placement of 562.5 million new shares. Following a subsequent one-for-one rights issue, it was issued another 562.5 million shares in OUELH, resulting in its current 25.32 per cent stake in OUELH before Tuesday' s announcement.
OUE posts S$343.4m loss for FY2020
OUE Limited posted a net loss of S$343.4 million for the year ended Dec 31, 2020, a reversal from the S$255.2 million net profit it reported in FY2019.
The property player attributed this to overall net fair-value losses recognised on investment properties of approximately S$435.4 million, as well as impairment losses on property, plant and equipment and intangible assets.
In particular, it recorded a S$298.9 million fair-value loss on the disposal of the US Bank Tower in Los Angeles, California. The value was derived from the difference between the sale price and the last reported fair value of US$650 million as at Dec 31, 2019.
Revenue shrank 43 per cent to S$530.5 million from S$930.8 million a year ago, with declines across all its segments. The pandemic' s impact was especially felt in the hospitality division, where revenue decreased 64.6 per cent to S$85.5 million on lower room occupancy and banquet sales.
Loss per share was 38.18 cents. In FY2019, OUE posted earnings per share of 28.31.
OUE is proposing a final cash dividend of one cent per share. In FY2019, it paid out a total dividend of 5 cents per share, comprising a final dividend of one cent and special dividend of 4 cents.
Why i choose SMM is because " The World Has Change" ...
I knew it`s a lost making company, already issued and forewarned and shares price will be seriously impacted due to the profit guidance for 4Q 2020...
Waiting for the released results on 23 Feb 2020, afterwhich, will trigger me to buy at least 350k of SMM ...if it hits below 0.12.5c..
I knew it`s a lost making company, already issued and forewarned and shares price will be seriously impacted due to the profit guidance for 4Q 2020...
Waiting for the released results on 23 Feb 2020, afterwhich, will trigger me to buy at least 350k of SMM ...if it hits below 0.12.5c..
TA_Expert ( Date: 18-Feb-2021 03:48) Posted:
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The problem is i don`t know at all....
sad
sad
TA_Expert ( Date: 18-Feb-2021 03:48) Posted:
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Once sold consider loss ...
newbie19 ( Date: 17-Feb-2021 14:36) Posted:
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Why buy SMM which is a lost making company, and not Bitcoin.
Bitcoin will help you to recover all your losses in OUE in less than a few months.
One of my friends went in when it was trading at $30K. Look at it now. $51K. And many houses are targeting BTC to be $100K.
The world has one crazy over cryptos in recent years.
Mainstream will eventually adopt crypto as an asset class. Matter of time.
Bitcoin will help you to recover all your losses in OUE in less than a few months.
One of my friends went in when it was trading at $30K. Look at it now. $51K. And many houses are targeting BTC to be $100K.
The world has one crazy over cryptos in recent years.
Mainstream will eventually adopt crypto as an asset class. Matter of time.
newbie19 ( Date: 17-Feb-2021 19:49) Posted:
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No, he is a long term investor. He won' t sell as he strongly believe that the company is super undervalued.
newbie19 ( Date: 17-Feb-2021 19:53) Posted:
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Coincidentally, both just announced that they are going to report losses for the full year, with expected substantial write-off.
newbie19 ( Date: 17-Feb-2021 19:49) Posted:
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Haha, already sold...maybe he is also a die hard loser fan..😊
TA_Expert ( Date: 17-Feb-2021 16:35) Posted:
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Sure...though i lost $32k+..
I am using my balance funds to invest in SMM..
Chances of getting back the amount is not that difficult..
Maybe within 1 year or less?
Unless it goes bust!!! Then i have nothing to say..
Just take it the amount i lost it in the casino...
Kai189 ( Date: 17-Feb-2021 14:48) Posted:
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Have you spoken to ytthong1951 before you sold the shares? He is a 100% die-hard fan of OUE. You should listen to his theories and explanations.
newbie19 ( Date: 17-Feb-2021 14:36) Posted:
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The Indons just can't make it in a fair, competitive market.
Recovery going to be slow or might not even recover.
My worst performing stock as well.
My worst performing stock as well.
can share y u sold bro?
newbie19 ( Date: 17-Feb-2021 14:36) Posted:
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Bye Bye to this dead salted fish for good....did not moves for years..........
bought 35 lots @ $2.05, $70K+ few years ago...
selling off for good even at a lost half of the amount...
closed this chapter..................
bought 35 lots @ $2.05, $70K+ few years ago...
selling off for good even at a lost half of the amount...
closed this chapter..................
Happy Lunar New Year to everyone here.. May Niu year brings good health not forgetting HUAT all the way to the banks..😁
No one buying this stock except own company.
Looks like it taking it private.
Looks like it taking it private.
Agree....Horrible stocks n team......
Jamesbond007 ( Date: 27-Jan-2021 16:19) Posted:
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oue is a member of the lj stock group.
Tempted by its rnav
But it has been a non-performancer
Boils down to its board n management team.