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Sri Trang today gone up
how about tis, still sleeping ?
hopefully can chiong soon
how about tis, still sleeping ?
hopefully can chiong soon
Back to square 1
Joelton ( Date: 01-Sep-2020 09:34) Posted:
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Halcyon Agri shares climb after ditching rights issue
SHARES of mainboard-listed Halcyon Agri Corp recovered some of their losses on Monday, after the natural rubber supplier proposed to issue guaranteed perpetual securities in place of a rights issue.
The counter climbed as much as 18.2 per cent or four Singapore cents to 26 cents within the first minute of the opening bell, according to Shareinvestor data. It eased to finish the day at 23.5 cents, up 1.5 cents or 6.8 per cent from Friday' s close. About 6.3 million shares changed hands.
Last Friday, Halcyon Agri said the perps would be a " more optimal and equitable" funding option given the current market conditions, compared with the rights issue.
The perps will raise greater net proceeds than the previously proposed rights issue, which would have brought in some US$125.4 million in net proceeds if fully subscribed.
In addition, Chinese state-owned enterprise Sinochem International Corp (SIC), which owns Halcyon Agri' s major shareholder Sinochem International Overseas, plans to provide a corporate guarantee to support the issuance of up to US$200 million of perps.
The guarantee, which is subject to SIC shareholders' approval, will make the perps more marketable with institutional investors, Halcyon Agri said. This will give more certainty on the amount of proceeds that can be raised from the perps, as compared to the rights issue, as the latter' s issue price " may not be attractive to investors" , it added.
Halcyon Agri also pointed out that the perps issuance will not lead to the dilution of minority holdings, unlike with the rights issue.
Two months ago, the company proposed a renounceable non-underwritten one-for-two rights issue of up to 797.5 million new shares at 22 Singapore cents apiece. The proposed issue price was at a 36.2 per cent discount to the last transacted price of 34.5 cents per share for trades done on June 19. It was also at a 35.7 per cent discount to the volume weighted average price of 34.2 cents traded over the five consecutive market days including June 19, and a 27.4 per cent discount to the theoretical ex-rights price of 30.3 calculated based on June 19' s closing price.
On June 22, the day the rights issue was announced, the stock' s price tumbled 26.1 per cent or nine cents to close at 25.5 cents. Since then, the counter had fallen about 20 per cent as at Friday.
" In light of the recent share price movements and in consideration of current market conditions, the company has been exploring various means of alternative equity fundraising options which are more suitable under the prevailing circumstances," said Halcyon Agri on Friday.
I had vested this crappy counter for years, and my take is this counter would likely rebound as the natural rubber prices has rebounded quite significantly from historical lows seen during Covid-19. Also the ang mo CEO has changed, thankfully, after years of underperformance.
Shifu8888 ( Date: 31-Aug-2020 16:35) Posted:
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Market red, this green
Good volume today speaks volumes tomorrow.
Do your own homework, it is never one day work.
It is a matter of time, to be a gold mine. Even gold mine takes some time.
With strong fundamental, it will be at full throttle
Neither cry father nor cry mother
As it shows you are a sore loser.
Good volume today speaks volumes tomorrow.
Do your own homework, it is never one day work.
It is a matter of time, to be a gold mine. Even gold mine takes some time.
With strong fundamental, it will be at full throttle
Neither cry father nor cry mother
As it shows you are a sore loser.
Nobody asked you to respond to my penning!!
Own research, own target!!
Anybody is always welcome to make contributions to the forum!!
Bro just for your info, I am one of the mkt participants from the rubber fraternity!!
Lol. Why not?
Tyres need them.
It is ok. Go read their annual report to understand where latest is used. Go Google what is the main composition of rubber tyres. Go Google also to check How much China is using latex per year. Halcyon AR also revealed some.
Quoting you, forum is an exchange of information, robust and rigorous debate.
No falsehood. I don need to do so.
If one expects quick bucks from this counter, sorry. There is no quick bucks all the time.
If you choose to remain combative and combustive, this shall be my last reply to you.
Tyres need them.
It is ok. Go read their annual report to understand where latest is used. Go Google what is the main composition of rubber tyres. Go Google also to check How much China is using latex per year. Halcyon AR also revealed some.
Quoting you, forum is an exchange of information, robust and rigorous debate.
No falsehood. I don need to do so.
If one expects quick bucks from this counter, sorry. There is no quick bucks all the time.
If you choose to remain combative and combustive, this shall be my last reply to you.
limjoeseph ( Date: 31-Aug-2020 15:58) Posted:
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Haha pl get your facts right!!
Latex is a strategic piece to sinochem???
Sinochem invested in Halcyon because rubber is a strategic source of raw material supplies to China as Sinochem is a state owned company.
Halcyon is never into latex processing but have rubber factories besides Indonesia being their largest share of factories, and few factories in countries like Thailand/Msia/Africa.
Msian gloves manufacturers mostly buy latex from Thailand because not enough from local latex suppliers.
This forum is for sharing of ideas and as such please refrain from posting untruths just as to support any mkt participants views of the underlying stock concerning the direction of the share price.
Let mkt forces decide the trend.
Mkt never tell lies but humans do!!!
There are many glove maker in Indonesia. To be surprised to all though they have 6% from Malaysia only. Latex is a strategic piece to sinochem. I don wish to elaborate on this.
Why am I so confident:
2019 EBitda is 71m usd
Based on easily 8 times Pe, the fair value is usd568 or usd0.35
I am shouting sgd 0.30 as target.
I am always conservative. This HAS to move up now that there is no more dilutive rights issue.
Why am I so confident:
2019 EBitda is 71m usd
Based on easily 8 times Pe, the fair value is usd568 or usd0.35
I am shouting sgd 0.30 as target.
I am always conservative. This HAS to move up now that there is no more dilutive rights issue.
Stonky ( Date: 31-Aug-2020 13:33) Posted:
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By all means, please you elaborate on this? I am no expert and am very happy to listen to other people' s opinions.
Shifu8888 ( Date: 31-Aug-2020 12:06) Posted:
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Your information is half correct.
Stonky ( Date: 31-Aug-2020 11:59) Posted:
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Investors should all be quite careful when a stock has been on a downward trend for 5 years.
I believe many investors got fooled earlier at 35-40c back in May with the misconception that all rubber counters will benefit from the glove boom of Malaysia.
This company is primarily based in Africa and Indonesia it seems, which logistically would not make as much sense to supply latex rather than Malaysia or Thailand to the biggest glove producers in Malaysia.
I believe many investors got fooled earlier at 35-40c back in May with the misconception that all rubber counters will benefit from the glove boom of Malaysia.
This company is primarily based in Africa and Indonesia it seems, which logistically would not make as much sense to supply latex rather than Malaysia or Thailand to the biggest glove producers in Malaysia.
Congrats.
No reason for you not to win money.
I am also heavily vested
Don ask me my price.
No reason for you not to win money.
I am also heavily vested
Don ask me my price.
Sunbrighten ( Date: 31-Aug-2020 10:50) Posted:
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Shiful, i bought 30,000 shares at 0.235 today.
Shifu8888 ( Date: 31-Aug-2020 10:41) Posted:
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The price CANNOT stay this level.
It has to correct back up to at least 30.
My POV.
Early 🛎
It has to correct back up to at least 30.
My POV.
Early 🛎
This is the best moment to privatize.
Sinochem should consider.
Sinochem should consider.
Chiogn ah ! Rights issue may be called off and replaced by issuance of perpetual securities.
Halcyon Agri proposes issue of guaranteed perpetual securities in place of rights issue
NATURAL rubber supplier Halcyon Agri Corp has proposed the issuance of guaranteed perpetual securities as its latest fundraising option, rather than the earlier proposed rights issue.
In a regulatory filing, the mainboard-listed firm said this move is a " more optimal and equitable" funding option amid current market conditions. This comes just two months after the firm proposed a renounceable non-underwritten rights issue of up to 797.5 million new shares at 22 Singapore cents apiece. The mainboard-listed firm had planned to offer eligible shareholders one rights share for every two existing ordinary shares they hold. The rights issue was meant to be undertaken via the general share-issue mandate.
" In light of the recent share price movements and in consideration of current market conditions, the company has been exploring various means of alternative equity fundraising options which are more suitable under the prevailing circumstances," said the firm on Friday.
Shares of Halcyon Agri have fallen about 20 per cent since late June, when the firm said it would raise funds through the rights issue. The counter closed at 22 cents on Friday, down 2.2 per cent.
Chinese state-owned enterprise Sinochem International Corp (SIC), which owns Halcyon Agri' s major shareholder Sinochem International Overseas, on Aug 27 passed a resolution to approve the provision of a corporate guarantee to support the issuance of perpetual securities of up to US$200 million.
Halcyon Agri said the estimated net proceeds from the issuance of guaranteed perpetual securities would be greater than the estimated net proceeds of the earlier proposed rights issue of US$125.4 million, after deducting estimated expenses.
The additional proceeds would enable the firm to better achieve the rationale of the rights issue, that is, to enhance the group' s financial position by adding liquidity, augmenting its capital base thus reducing overall gearing and provide the group with " greater financial capability and flexibility to capitalise on any investment opportunities in a timely manner" .
Halcyon Agri further said the SIC guarantee " enhances the marketability" of the guaranteed perpetual securities with institutional investors. " There is better certainty on the amount of proceeds that can be raised through the issuance of guaranteed perpetual securities, compared to the rights issue as the issue price may not be attractive to investors based on current market environment."
The firm added that, unlike the rights issue, the issuance of guaranteed perpetual securities will not lead to the dilution of minority holdings.
Halcyon Agri said it is " not customary practice" for SIC to provide a guarantee to its subsidiaries that are not wholly-owned. " SIC' s willingness to provide such corporate guarantee to the company demonstrates its strong support as the indirect major shareholder of the company."
The provision of the guarantee is subject to the approval of SIC shareholders at the upcoming extraordinary general meeting on Sept 14.
Was reading financial news.
Just out:
Trump administration says Sinochem and others backed by Chinese military
https://reut.rs/32CWTo7