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The discount factor is to apply for the uncertainty, exchange rate and more significantly the S chip factor giving the bad records of S Chips on SGX.
Look at the ill liquidity after the initial announcement, it shows that the market stays far away from S Chips
Look at the ill liquidity after the initial announcement, it shows that the market stays far away from S Chips
On June 1, 2020, Chinese authorities released the Overall Plan for the Construction of Hainan Free Trade Port, a large-scale plan to transform the entire island province into a free trade port (FTP) ? making it the largest special economic zone in China.
Dannkh ( Date: 20-Nov-2022 20:58) Posted:
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Dont quite understand why CHR acquires 36% from Sinochem in US$ since Sinochem is ard a China SOE.
Could it be China SOEs are beginning to dispose US$ they have
accumulated to minimised the risk of being confiscated by US should there be a conflict between China & US?... just as China, on the pretext of defending yuan is reducing its US Treasury.
Could it be China SOEs are beginning to dispose US$ they have
accumulated to minimised the risk of being confiscated by US should there be a conflict between China & US?... just as China, on the pretext of defending yuan is reducing its US Treasury.
hschsc ( Date: 20-Nov-2022 19:34) Posted:
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China is the largest consumer and importer of natural rubber in the world. As the output is far lower than the consumption, China' s natural rubber import dependence is high. At present, China natural rubber imports account for about half of the world' s total imports. According to statistics from the Association of Natural Rubber Producing Countries (ANRPC), in 2021, China' s natural rubber consumption will be nearly 6 million tons, accounting for about 56% of global natural rubber consumption in 2021, China' s natural rubber output will be about 850,000 tons, accounting for about 6.2% of natural rubber production. ANRPC predicts that global natural rubber production is expected to increase by 1.9% year-on-year to 14.107 million tons in 2022.
If the exchange rate at "close" is US$1= S$1.30, then u will receive 40.95c instead of 44c. If u buy now at 38c, the return over abt 6 mths is abt 7.7%. "Close" is a future date when the last " conditions precedent" is fulfilled. All these terms are defined in the offer document.
The catch is whether the MGO will materialise as it is subject to CHR obtain at least 50% of Halcyon shares. If not, u will be caught holding the shares.
If MGO goes ahead, then this investment may be better than tbill now at 4% pa. Dyodd.
The catch is whether the MGO will materialise as it is subject to CHR obtain at least 50% of Halcyon shares. If not, u will be caught holding the shares.
If MGO goes ahead, then this investment may be better than tbill now at 4% pa. Dyodd.
ysh2006 ( Date: 18-Nov-2022 16:03) Posted:
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44c is based on 1.3839 USD : 1SGD, if exchange rate by take over time become 1.30 how
aragosta ( Date: 18-Nov-2022 12:26) Posted:
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Looks like the marketparticipants are uncertain of the exit offer whether will end up negative or positive s everybody' s guess. At this juncture, likely the voloume will slowly taper off and the possibilities of such exit offer will materialise or not nobody knows.
Look like market staying away from S Chips after being burnt in the past.
Hardly any transactions after such a big announcement. S - Skeptical
Or at the current price it i fair valued for the uncertainities and risks of S chip.
Hardly any transactions after such a big announcement. S - Skeptical
Or at the current price it i fair valued for the uncertainities and risks of S chip.
Thks. Anyway, nav is abt S$0.40. Dyodd.
FrancisLim ( Date: 18-Nov-2022 10:58) Posted:
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State Owned Enterprise
Dannkh ( Date: 18-Nov-2022 10:28) Posted:
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Yes 31.5 USD
According to latest Halcyon's press release, the MGO is US 31.5c in cash. Did I miss out any new developments?
aragosta ( Date: 18-Nov-2022 09:39) Posted:
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Will it mean that Hainan Rubber Industry Co., LTD also provide more funding for Halcyon Agri ?
Joelton ( Date: 18-Nov-2022 09:31) Posted:
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What is SOE?
FrancisLim ( Date: 18-Nov-2022 10:01) Posted:
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Looking at today' s transaction, market not excited about this deal.
Discounted for the uncertainities and the S Chips factor, notwithstanding it is a SOE.
Discounted for the uncertainities and the S Chips factor, notwithstanding it is a SOE.
Thank you for the info.
aragosta ( Date: 18-Nov-2022 09:46) Posted:
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Halcyon Agri surges 34.5% to two-year high after acquisition offer
SHARES of rubber producer Halcyon Agri : 5VJ +32.76% surged 34.5 per cent to an intraday high of S$0.39 during early trade on Thursday (Nov 17).
The counter was among the top five most heavily traded counters by volume, with nearly 11.2 million shares changing hands in the morning.
The last time the counter traded near such levels was in June 2020. No married trades were recorded, according to ShareInvestor data.
This comes after the group on Wednesday said it received an offer from Shanghai Stock Exchange-listed China Hainan Rubber Industry Group to acquire a 36 per cent stake in the group at US$0.315 apiece.
This brings the total cash consideration to US$180.9 million for a total of 574.2 million shares in Halcyon Agri.
Halcyon Agri requested to lift its trading halt on Wednesday night.
According to the Singapore Exchange, the mainboard-listed group has a production capacity of 1.63 million metric tonnes per annum and owns 38 processing factories producing sustainable natural rubber under the Heveapro brand.
Instead of Singapore tbill @4% now, I am buying Haclyon for a 5% to 12% return over 6 mths. The risks are:
Deal call off...probability low.
Fx risk...high. What do u think? Dyodd.
Deal call off...probability low.
Fx risk...high. What do u think? Dyodd.
Why not Yuan?
ysh2006 ( Date: 18-Nov-2022 05:52) Posted:
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# Hainan Rubber has entered into SPA with Sinochem to acquire 36% of Halcyon Agri, triggering a MGO.
# Sinochem shall remain second largest shareholder in Halcyon Agri, holding 29.2% stake。
# Sinochem shall remain second largest shareholder in Halcyon Agri, holding 29.2% stake。
So both CO., control 65.2% of shares. The remaining is about 34.8% in the market for trading.