Great Eastern    Last:15.82    +0.04

Great Eastern Holdings Limited

Knew many gangster. But when comes to investing he is like ah gua. Scared this and that. See him no up 😂  

eddyeddy      ( Date: 24-Jun-2024 11:01) Posted: He always said he knew many gangsters. Godwinlow      ( Date: 24-Jun-2024 09:10) Posted: You got small balls, talk like ah gua

 

He always said he knew many gangsters.

Godwinlow      ( Date: 24-Jun-2024 09:10) Posted: You got small balls, talk like ah gua. aragosta      ( Date: 23-Jun-2024 23:27) Posted: --- Post Removed by User ---

 

450,000 shares to go before suspension?

 

You got small balls, talk like ah gua.

aragosta      ( Date: 23-Jun-2024 23:27) Posted: --- Post Removed by User ---

 

Like that think sell on early morning already !

 

Or probably Monday lunch break suspension already. Anyways be prepared 

Godwinlow      ( Date: 23-Jun-2024 20:41) Posted: Prepare for suspension. On Tuesday. I' m ready.  SlothSG      ( Date: 23-Jun-2024 20:40) Posted: Reaching 90% .... now 89.92%

 

Swee .... 

 

Prepare for suspension. On Tuesday. I' m ready. 

SlothSG      ( Date: 23-Jun-2024 20:40) Posted: Reaching 90% .... now 89.92%

 

Reaching 90% .... now 89.92% 

 

Create enemies than build friendships. From here you can see how the rich think in their mind

domperrier      ( Date: 23-Jun-2024 07:50) Posted: Don' t forget, they also to took advantage of weaker holders in ' 23 by buying 2.3 mil of their shares for    only $16.99  so they' re likely to resist raising the offer, unless SUED. I wonder what emotion those former shareholders felt when the news of the takeover bid broke on May 10. You can be sure it ain' t exhilaration!  https://www.straitstimes.com/business/ocbc-ups-stake-in-insurance-arm-great-eastern-to-884

 

Haha games of the richs. small fishes all kenna makan

pasttime      ( Date: 23-Jun-2024 13:24) Posted: Just take the private property that ge own in prime district. the share price far below value. But then ge not going to sell these properties only to collect rental. So the price got depress in such time of fed qt. Good long term hold for value recovery. Ocbc also see it. So they offer an exit price for those who wear out by the long depress share price.

 

Just take the private property that ge own in prime district. the share price far below value. But then ge not going to sell these properties only to collect rental. So the price got depress in such time of fed qt. Good long term hold for value recovery. Ocbc also see it. So they offer an exit price for those who wear out by the long depress share price.

 

Like this now OUE is trying to buy shareholders 10% at only $1.25 later next year offer privatisation at $2.50 also can hor...

domperrier      ( Date: 23-Jun-2024 07:50) Posted: Don' t forget, they also to took advantage of weaker holders in ' 23 by buying 2.3 mil of their shares for    only $16.99  so they' re likely to resist raising the offer, unless SUED. I wonder what emotion those former shareholders felt when the news of the takeover bid broke on May 10. You can be sure it ain' t exhilaration!  https://www.straitstimes.com/business/ocbc-ups-stake-in-insurance-arm-great-eastern-to-884

 

Don' t forget, they also to took advantage of weaker holders in ' 23 by buying 2.3 mil of their shares for    only $16.99  so they' re likely to resist raising the offer, unless SUED. I wonder what emotion those former shareholders felt when the news of the takeover bid broke on May 10. You can be sure it ain' t exhilaration! 

https://www.straitstimes.com/business/ocbc-ups-stake-in-insurance-arm-great-eastern-to-884

 

Indeed. OCBC in all likelihood, is unmotivated to realise the full potential of GE, because a takeover on the cheap as is the case today, was their plan all along. Heck, why else would they be paying GE top brass OCBC shares instead? It was a misalignment of interests, away from GE shareholders' , so market price could never be maximised and so they can make it look like they are doing GE shareholders a favour, by paying a " hefty premium" over last price. It would have taken some small change out of their record profits, to pay GE holders a fairer price, which mind you, could have been realised if they had run the ship a little better, but OCBC wont budge because they liken that to a charitable payout. The shamelessness and audacity!

FairShake      ( Date: 22-Jun-2024 12:54) Posted: It looks like OCBC is playing strictly by the book.  No buy no report/update. So don' t get your hopes up on any price revision since it is already barred from doing so, " except in wholly circumstances" .  Take-Over Code 20.2 pp124.  Everything now depends on whether: it can garner 90% control suspend the stock and make an Exit Offer that must be FAIR (IFA min S$28.87) and REASONABLE. Without sounding misogynistic, OCBC under the stewardship of Mr David Connor, had offered 1.3x and 1.5x EV to privatise GEH in 2002 and 2004, This stands in stark contrast to the current offer of 0.7x EV under Ms Helen Wong. While such price haggling is commonplace in wet or flea markets, it is quite unheard of in the financial circle, especially for a prized asset like GEH. Any other bidder would pay a significant premium for GEH. The enviable reputation and goodwill OCBC, due in no small part to the philanthropy of its founders and their descendants, risk being sullied by this opportunistic and Thucydides (strong vs weak) attempt to swallow GEH up on the cheap, just to save a few million dollars, pocket change for financial giant like OCBC.   Savings Table No of Shares % Total Issue 473,319,069 100.00 OCBC 418,586,759 88.44 Concert Parties 1,080,711 0.23 OCBC + Concert Parties 419,667,470 88.67 Number of shares needed to 90% 6,319,692 1.33 Acceptance + Purchase till 20 Jun 4,115,794 0.87 Balance Required to Hit 90% 2,203,898 0.46     Per Share Savings S$ Diff Fair and Offer Price (28.87-25.60) 3.27 20,665,393     Vested, DYODD FairShake      ( Date: 21-Jun-2024 10:44) Posted: A few important things to note: 1. OCBC is  NOT  obliged to report daily/latest acceptance level if it  DID NOT  acquire any GEH share on the open market. 2. On the day OCBC' s stake hit 90%, it MUST make an annoucement on the loss of public free float, regardless of (1) 3. In the event OCBC fails to garner 90% by 12 July, GEH shares will remain listed on the SGX and its price is likely react rather negatively to it thereafter. Vested. DYOD

 

It likely will for the remaining dissenting shareholders assuming 90% threshold is reached and counter suspended because of loss of free float.

domperrier      ( Date: 22-Jun-2024 18:44) Posted: I am not a religious person, but am reminded of the story of David & Goliath. Against overwhelming odds, the unexpected happened & so it can happen in this case too.

 

I am not a religious person, but am reminded of the story of David & Goliath. Against overwhelming odds, the unexpected happened & so it can happen in this case too.
 

 

Minority stajeholders will always be at a disadvantage..
sgx or watchdog have a role to play.. level playing firld else who dare to invest here..

Luckygal      ( Date: 22-Jun-2024 15:39) Posted: EY has valued GEH as between S$28.87-S$36.19. But even at S$28.87, which is only about 0.8 times EV value,  considered fair? Its still a big discount to the EV. ihatebigbully      ( Date: 22-Jun-2024 14:21) Posted: Good Analysis Fair Shake. Totally agree and quite unimaginable how could OCBC maintains this final offer without making reference to the IFA opinion on the unfair offer price to risk their high standing reputation.

 

EY has valued GEH as between S$28.87-S$36.19.
But even at S$28.87, which is only about 0.8 times EV value,  considered fair? Its still a big discount to the EV.

ihatebigbully      ( Date: 22-Jun-2024 14:21) Posted: Good Analysis Fair Shake. Totally agree and quite unimaginable how could OCBC maintains this final offer without making reference to the IFA opinion on the unfair offer price to risk their high standing reputation.   FairShake      ( Date: 22-Jun-2024 12:54) Posted: It looks like OCBC is playing strictly by the book.  No buy no report/update. So don' t get your hopes up on any price revision since it is already barred from doing so, " except in wholly circumstances" .  Take-Over Code 20.2 pp124.  Everything now depends on whether: it can garner 90% control suspend the stock and make an Exit Offer that must be FAIR (IFA min S$28.87) and REASONABLE. Without sounding misogynistic, OCBC under the stewardship of Mr David Connor, had offered 1.3x and 1.5x EV to privatise GEH in 2002 and 2004, This stands in stark contrast to the current offer of 0.7x EV under Ms Helen Wong. While such price haggling is commonplace in wet or flea markets, it is quite unheard of in the financial circle, especially for a prized asset like GEH. Any other bidder would pay a significant premium for GEH. The enviable reputation and goodwill OCBC, due in no small part to the philanthropy of its founders and their descendants, risk being sullied by this opportunistic and Thucydides (strong vs weak) attempt to swallow GEH up on the cheap, just to save a few million dollars, pocket change for financial giant like OCBC.   Savings Table No of Shares % Total Issue 473,319,069 100.00 OCBC 418,586,759 88.44 Concert Parties 1,080,711 0.23 OCBC + Concert Parties 419,667,470 88.67 Number of shares needed to 90% 6,319,692 1.33 Acceptance + Purchase till 20 Jun 4,115,794 0.87 Balance Required to Hit 90% 2,203,898 0.46     Per Share Savings S$ Diff Fair and Offer Price (28.87-25.60) 3.27 20,665,393     Vested, DYOD

 

Good Analysis Fair Shake.

Totally agree and quite unimaginable how could OCBC maintains this final offer without making reference to the IFA opinion on the unfair offer price to risk their high standing reputation.
 

FairShake      ( Date: 22-Jun-2024 12:54) Posted: It looks like OCBC is playing strictly by the book.  No buy no report/update. So don' t get your hopes up on any price revision since it is already barred from doing so, " except in wholly circumstances" .  Take-Over Code 20.2 pp124.  Everything now depends on whether: it can garner 90% control suspend the stock and make an Exit Offer that must be FAIR (IFA min S$28.87) and REASONABLE. Without sounding misogynistic, OCBC under the stewardship of Mr David Connor, had offered 1.3x and 1.5x EV to privatise GEH in 2002 and 2004, This stands in stark contrast to the current offer of 0.7x EV under Ms Helen Wong. While such price haggling is commonplace in wet or flea markets, it is quite unheard of in the financial circle, especially for a prized asset like GEH. Any other bidder would pay a significant premium for GEH. The enviable reputation and goodwill OCBC, due in no small part to the philanthropy of its founders and their descendants, risk being sullied by this opportunistic and Thucydides (strong vs weak) attempt to swallow GEH up on the cheap, just to save a few million dollars, pocket change for financial giant like OCBC.   Savings Table No of Shares % Total Issue 473,319,069 100.00 OCBC 418,586,759 88.44 Concert Parties 1,080,711 0.23 OCBC + Concert Parties 419,667,470 88.67 Number of shares needed to 90% 6,319,692 1.33 Acceptance + Purchase till 20 Jun 4,115,794 0.87 Balance Required to Hit 90% 2,203,898 0.46     Per Share Savings S$ Diff Fair and Offer Price (28.87-25.60) 3.27 20,665,393     Vested, DYODD FairShake      ( Date: 21-Jun-2024 10:44) Posted: A few important things to note: 1. OCBC is  NOT  obliged to report daily/latest acceptance level if it  DID NOT  acquire any GEH share on the open market. 2. On the day OCBC' s stake hit 90%, it MUST make an annoucement on the loss of public free float, regardless of (1) 3. In the event OCBC fails to garner 90% by 12 July, GEH shares will remain listed on the SGX and its price is likely react rather negatively to it thereafter. Vested. DYOD