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A few days ago, an Indonesian conglo acquired 3.23% of YuuPay, a subs, for US$5mil, valuing it for US$150mil.
Dividing by the issued shares of 790mil in YZ, each sh is worth US$0.19 or 26cts Sing, just base on the subs worth alone.
What a joke, YZ closed at 3.8cts just b4 susp more than a yr ago.
Looks like its value multiplies, when it is being suspended.
Looks like it' s now going ahead with the planning and development of the massive 85 hectares real estate China project, from their latest announcement.
Wonder if the CAD has finished their investigation.
Dividing by the issued shares of 790mil in YZ, each sh is worth US$0.19 or 26cts Sing, just base on the subs worth alone.
What a joke, YZ closed at 3.8cts just b4 susp more than a yr ago.
Looks like its value multiplies, when it is being suspended.
Looks like it' s now going ahead with the planning and development of the massive 85 hectares real estate China project, from their latest announcement.
Wonder if the CAD has finished their investigation.
Unbelievable News.......................
YuuZoo and Harbin mayor agree on definitive timetable for Nordic Sport Town real estate project
TUE, JUN 11, 2019 - 7:28 PM
SOCIAL media company YuuZoo Networks Group on Tuesday said after trading hours that it has agreed with the mayor of Harbin, China on a definitive timetable for the Nordic Sport Town real estate project to start on May 1, 2020.
Under the earlier signed framework agreement, YuuZoo will plan and manage the development of 85 hectares of river-fronting land. According to the company, the land is located on a &ldquo prime upmarket new development area&rdquo earmarked by the local Harbin government for high-end residential, commercial, tourism, education and sports developments.
The master plan for the project, created by YuuZoo in cooperation with Sweco, a Scandinavian real estate planning firm, includes residential properties, hotels, a multipurpose sport arena, commercial real estate, educational facilities, tourism projects and other developments by the river. Once completed, YuuZoo will run all e-commerce, eSports, eServices and ePayments activities in the area.
YuuZoo said that the trading ban by the Singapore Exchange has resulted in the company facing &ldquo major challenges in moving forward with the massive project&rdquo , but added that it has managed to raise funds to go ahead.
The company said that the joint venture formed in Harbin with local partners has given it the required local support and knowhow for the development of the Nordic Sport Town.
The Business Times reported in May that several former employees of YuuZooNow! Pte Ltd in Singapore have made claims against the company for unpaid salaries.
YuuZooNow! is an indirect wholly owned subsidiary of YuuZoo Networks Group (formerly known as YuuZoo Corporation).
In March this year, YuuZoo closed all its Singapore-based subsidiaries and terminated all its Singapore-based employees as a direct consequence of its trading suspension.
YuuZoo' s shares have been suspended since March 2018. Its auditor at the time, RT LLP, said a disclaimer had been issued to YuuZoo, in response to questions posed by the SGX because the auditor had been " unable to form an opinion due to limitation of scope" . The company added that the SGX had also refused to accept its response, and asked the Commercial Affairs Department to investigate the company.
https://www.businesstimes.com.sg/companies-markets/yuuzoo-and-harbin-mayor-agree-on-definitive-timetable-for-nordic-sport-town-real
Basically it can also be saying, if you put in due dilligence, it' s possible to cover most of your illegal tracks. If they can' t find relevant records, that could be the reason why the investigation is still ongoing. neverending.
like2learn ( Date: 10-Jun-2019 22:00) Posted:
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how come under investigation can get his passport back by posting a bail bond ... is it maybe not sufficient strong evidence - give him benefit of doubt or is it some normal legal process ?
imo, if there are retail investors / public money involved, maybe shd not let him hv his passport back - what if dun come back how ?
hope someone higher up speak up for us one day, we retail hv to endure low buyout offer, " funny" counters, no help to sue, etc basically chance of making $ < chance of losing $
imo, if there are retail investors / public money involved, maybe shd not let him hv his passport back - what if dun come back how ?
hope someone higher up speak up for us one day, we retail hv to endure low buyout offer, " funny" counters, no help to sue, etc basically chance of making $ < chance of losing $
kevin.tay.18 ( Date: 09-Jun-2019 23:50) Posted:
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What a joke and a clown.................
Keeps announcing mega deals and transactions but as usual the identity of the party involved not revealed................
Must be hallucinating...................
Indonesian conglomerate buys 3.23% stake in YuuZoo' s payment unit for US$5m
THU, JUN 06, 2019 - 10:28 PM
BELEAGUERED social media company YuuZoo Networks Group on Thursday said that during the time its shares were suspended from trading, the company had signed an investment agreement for the sale of a 3.23 per cent stake in its fully-owned payment subsidiary, YuuPay Secure, for US$5 million to an Indonesian conglomerate.
This values YuuPay at about US$150 million. The cash payment has been received in full.
YuuZoo' s payment services in 2016 and 2017 generated revenues of more than S$60 million, primarily generated through YuuCollect, a new payment service developed in-house. YuuCollect is a proprietary offline payment ecosystem that brings global payment capabilities to underserved consumers who do not have credit or debit cards, YuuZoo said.
Through YuuCollect, a cardless consumer in, say, Indonesia - a country where only 2 per cent of a 265 million population owns a credit card - can buy products from overseas merchants where he or she would not be able to by card because of the know-your-customer (KYC) process, YuuZoo said.
" The YuuCollect ecosystem enables a KYC process to be performed and thereafter allows the consumer to pay offline for online services," it added.
YuuPay is filing a patent application for the YuuCollect platform and ecosystem. The company is growing its global presence through a network of partners doing marketing and sales in various markets. YuuPay plans to base its operations in Thailand, Indonesia, Nigeria and China. YuuZoo said YuuPay has also signed new agreements with merchants and banks for partnerships that cover online payments, e-wallets and new payment services.
The Business Times reported two weeks ago that several former employees of YuuZooNow! Pte Ltd in Singapore have made claims against the company for unpaid salaries.
YuuZooNow! is an indirect wholly-owned subsidiary of YuuZoo Networks Group, formerly known as YuuZoo Corporation.
In March this year, YuuZoo closed all its Singapore-based subsidiaries and terminated all its Singapore-based employees as a direct consequence of its trading suspension.
YuuZoo' s shares were first suspended in March 2018. Its auditor at the time, RT LLP, said a disclaimer had been issued to YuuZoo, in response to questions posed by the Singapore Exchange (SGX), because the auditor had been " unable to form an opinion due to limitation of scope" .
The company added that the SGX had also refused to accept its response, and asked the Commercial Affairs Department to investigate the company.
https://www.businesstimes.com.sg/companies-markets/indonesian-conglomerate-buys-323-stake-in-yuuzoos-payment-unit-for-us5m
The shares for this company is essentially worthless now.
Starship ( Date: 04-Jun-2019 16:45) Posted:
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An international article by our esteemed Prof Mak Yuen Teen................. 
Avoiding Potholes In Listed Companies
Mak Yuen Teen and Richard Tan Chuan Lye
Death spiral convertibles
In his Regulator' s Column on 25 August 2016, Mr Tan Boon Gin, the then chief regulatory officer of SGX and current CEO of SGX Regco, warned about the impact and risks of " death spiral convertibles" . As he explains, " death spiral convertibles" are convertible bonds where the conversion price is not fixed. A subscriber exercises such a convertible based on a formula where the conversion price " floats or is pegged to the market price of the shares at the time of conversion. The conversion price is also always at a discount to, or lower than, the market price prevailing at the time of conversion. If the market price of the shares falls, the conversion price declines and the number of shares the subscriber gets at exercise will increase. Conversely, a rising market price for the shares will mean a higher conversion price and fewer shares for the subscriber at exercise."
He warns about the following risks of " death spiral convertibles" : acute dilutive and share price impact, adverse impact on the company' s ability to obtain other financing, possible restrictions and complex pre-emptive rights, high up-front fees and break fees, and other adverse effects on shareholders (such as priority claims on winding up or liquidation for securities that have not been converted).
A Business Times article on 10 June 2016 (" Singapore-based firm starts fund to buy ' death spiral' convertibles" ) mentioned a number of companies that have used such convertibles, including Annica Holdings, Attilan Group (the former Asiasons Capital), Cacola Furniture International, Elektromotive Group, ISR Capital, LionGold Corp, Magnus Energy Group, OLS Enterprise and YuuZoo Corp.
Where companies have issued such & ldquo death spiral convertibles& rdquo , there is a very high risk that the share price will go into a free fall.
http://governanceforstakeholders.com/wp-content/uploads/2019/04/cgpotholes-2019.pdf
Avoiding Potholes In Listed Companies
Mak Yuen Teen and Richard Tan Chuan Lye
Death spiral convertibles
In his Regulator' s Column on 25 August 2016, Mr Tan Boon Gin, the then chief regulatory officer of SGX and current CEO of SGX Regco, warned about the impact and risks of " death spiral convertibles" . As he explains, " death spiral convertibles" are convertible bonds where the conversion price is not fixed. A subscriber exercises such a convertible based on a formula where the conversion price " floats or is pegged to the market price of the shares at the time of conversion. The conversion price is also always at a discount to, or lower than, the market price prevailing at the time of conversion. If the market price of the shares falls, the conversion price declines and the number of shares the subscriber gets at exercise will increase. Conversely, a rising market price for the shares will mean a higher conversion price and fewer shares for the subscriber at exercise."
He warns about the following risks of " death spiral convertibles" : acute dilutive and share price impact, adverse impact on the company' s ability to obtain other financing, possible restrictions and complex pre-emptive rights, high up-front fees and break fees, and other adverse effects on shareholders (such as priority claims on winding up or liquidation for securities that have not been converted).
A Business Times article on 10 June 2016 (" Singapore-based firm starts fund to buy ' death spiral' convertibles" ) mentioned a number of companies that have used such convertibles, including Annica Holdings, Attilan Group (the former Asiasons Capital), Cacola Furniture International, Elektromotive Group, ISR Capital, LionGold Corp, Magnus Energy Group, OLS Enterprise and YuuZoo Corp.
Where companies have issued such & ldquo death spiral convertibles& rdquo , there is a very high risk that the share price will go into a free fall.
http://governanceforstakeholders.com/wp-content/uploads/2019/04/cgpotholes-2019.pdf