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lifeisgood,
Thanks ! I hope it is really good news and company will use the extra cash into good use. After Noble rights experience, I am really
Thanks ! I hope it is really good news and company will use the extra cash into good use. After Noble rights experience, I am really
RATIONALE for the rights issue:
The Company believes that the Proposed Rights cum Warrants Issue will enhance the Group&rsquo s financial position and provide the Group with greater financial capacity to pursue business opportunities. The Company intends to utilize the proceeds of the Proposed Rights cum Warrants Issue towards funding the Group&rsquo s business expansion plan and for working capital requirements.
The Company believes that the Proposed Rights cum Warrants Issue will enhance the Group&rsquo s financial position and provide the Group with greater financial capacity to pursue business opportunities. The Company intends to utilize the proceeds of the Proposed Rights cum Warrants Issue towards funding the Group&rsquo s business expansion plan and for working capital requirements.
Just announced rights issue , 2 rights for every 5 shares at $0.055, plus a free detachable warrant.
Seems like the company wants to raise equity (without diluting Koh Brothers 65% shares) to prepare itself for new projects. Normally a placement would be more direct (but will dilute existing shareholders), but I think the rights issue is good for existing shareholders so that they can participate in the growth of this company at the low entry price of $0.055, which is the same as the initial placement price to Koh Bros the parent a few years ago.
I suspect tender results for some of the packages should be out soon.
Seems like the company wants to raise equity (without diluting Koh Brothers 65% shares) to prepare itself for new projects. Normally a placement would be more direct (but will dilute existing shareholders), but I think the rights issue is good for existing shareholders so that they can participate in the growth of this company at the low entry price of $0.055, which is the same as the initial placement price to Koh Bros the parent a few years ago.
I suspect tender results for some of the packages should be out soon.
Dont mind actually
When I look at many of the towkay construction/engineering companies in Singapore, like Lian Beng, KSH, Hock Lian Seng, Chip Eng Seng etc all have gone above 50 cents. The only diff is Koh Eco has not gone into any property development yet. But once it has built up its war chest, I think it might take on some equity stakes in property development project, like joining one of those consortiums like Heeton, Lian Beng, KSH etc. I guess it is a matter of time.
Buying in now is to bet on the future development of this company, while still at a sub 10 cents status.
Just4win ( Date: 04-May-2017 16:10) Posted:
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Very soon u will become the major shareholder liao
lifeisgood ( Date: 04-May-2017 16:03) Posted:
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ya lor.. cuties...
junnies ( Date: 04-May-2017 16:04) Posted:
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wah chng kay so cute ah @_@
lifeisgood ( Date: 04-May-2017 15:58) Posted:
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I have been nibbling along the way. But when they sell hard, I buy harder.
rheng87 ( Date: 04-May-2017 16:00) Posted:
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i noticed that the selling volume seems to get lesser each day already. seems like a good time to buy in soon
lifeisgood ( Date: 04-May-2017 15:58) Posted:
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Just now chng kay taunting (aparently so), showing same both buy and sell volume at 92 vs 93. Seldom it is a coincidence.
Tradenewbie ( Date: 04-May-2017 15:35) Posted:
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Sorry, don' t quite understand - what do you mean?
lifeisgood ( Date: 04-May-2017 15:13) Posted:
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Now chng kays telling everyone he is in full control. 112.3 buy vs 112.2 sell. Well done!
Those projects for sure will come. One is because of Koh Bros very good relationship with Samsung, whom they sometimes jointly bid for projects. Second, Koh Bros is a trusted company by the Singapore government (was also an SG50 company, same age as modern Singapore). 100% of Koh Bros infrastructure projects are from Singapore government, so payment wise no problems with bad receivables, unlike projects from Middle East, Europe or Malaysia etc. ie, Koh Bros Eco will have high quality earnings.
Just4win ( Date: 04-May-2017 13:18) Posted:
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Thanks for your clarification, lifeisgood
Ok, patiently waiting for more good news to come from this co
lifeisgood ( Date: 04-May-2017 13:07) Posted:
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There are many packages that will come out as part of the DTSS Phase 2. CH2M is the consultant for the whole project. For example, it has not announced who will build the Tuas WRP. Everything must finish building by 2025 if I am not wrong.
Koh Bros Engineering build the Changi WRP a few years ago. So good chance it will get to build the Tuas WRP also. Others like the tunneling work etc still not out yet.
Just4win ( Date: 04-May-2017 13:02) Posted:
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Lifeisgood,
Are u refering to Deep Tunnel Sewerage System? Per the previous annoucement as extracted below , are these already in their pipeline plan ? Or these are not confirmed projects ?
Quote :Other pipeline projects that have been announced include Phase 2 of the Deep Tunnel Sewerage System (DTSS)2, the Integrated Waste Management Facility (IWMF) and 20 additional Active, Beautiful Clean Waters (ABC Waters) projects planned for the next five years3.
lifeisgood ( Date: 02-May-2017 16:36) Posted:
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Hv not been looking at this counter for a while... wahpiang.. price dropping still... can' t resist to add another load .
I remember the chairman Francis Koh mentioned that Koh Eco has tendered for 3 DTSS Phase 2 packages recently. I hope the results will be out soon. As the whole DTSS phase 2 is worth up to USD 6 billion, these packages should be significant. Looking forward to good news.
Thx so much for your input. I happened to cut loss at 0.186, becos I wanted the funds for another counter, not becos got prescience tat px going down to 0.15. But always wanted to reenter and was trying to balance between reentering after share consol vs risk miss the Sinochem entry announcement. The kneejerk after share consol is likely a sell down, mainly becos mkt cap of other counters w share consol historically go down plus Noble is a popular short target. But I will reenter as long as think px not as prone to attack after float reduce. Since I'm already out will try find a cheap px to reenter.
I dun have doubt tat Noble can survive. Their cash flow generation not great but why liquidity concern shld increase after their bond issue is just perplexing.
I dun have doubt tat Noble can survive. Their cash flow generation not great but why liquidity concern shld increase after their bond issue is just perplexing.
lifeisgood ( Date: 22-Apr-2017 18:40) Posted:
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My take is that, Elman wanted to reduce the float so as to more easily control the share price (if you read the share consol circular carefully, it is stated as one of the main reason for doing a share consol). I think once the float is down by 10 fold, he will succeed in managing the price back up. However, the big question mark is still the outstanding debt. The shorts attack Noble based on the outstanding debt level. However, these shorts never read the annual reports carefully.
Go back and look at the last 5-10 years, the debt has always been around USD 3 to 4 billion. That seems to be the normal debt level for the company in order to run the business. However, I dont know enough about the company current business to comment on whether this debt level is too high or just right.
So a short answer for your dilemma based on my own thinking: I will not add new position right now. I will wait to see how the share trade post consol. However, if you already own shares and comfortable with the company ability to survive, then I think you should hold. The shorts will find it much harder to get scrips after consol. The floats is currently quite loose because Banga sold away all his shares. So in some way, Banga has helped the shorts by making too many scrips available. Banga is now doing very well with his children in a new outfit (unlisted), which is like the old Noble.
EmmGru ( Date: 22-Apr-2017 12:19) Posted:
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