Tat Seng Packaging

Tat Seng Packaging fined S$12,000 for discharging toxic used water into sewers

SINGAPORE: Tat Seng Packaging was fined S$12,000 for discharging toxic used water into public sewers, national water agency PUB said on Monday (Mar 19).

Besides Tat Seng, 17 other companies were fined a total of S$100,500 between November last year and February 2018 for illegally discharging into the public sewerage system.

SGX-listed Tat Seng had been caught and penalised for similar offences on four previous occasions between 2012 and 2015, PUB said.

In this latest case, PUB said it detected an abnormality in the quality of incoming used water at the Kranji Water Reclamation Plant on Sep 25, 2016.

Investigations found that Tat Seng had released "black and turbid industrial used water" into the public sewer.

Water quality tests showed that the discharge contained quantities of copper that exceeded the allowable limit by as much as three times, PUB said.

Read more at https://www.channelnewsasia.com/news/sin...d-10055622

(26-02-2018, 10:38 PM)Terry Wrote: Anyone attending their agm please ask if they have any plans regards to their rising receivable.

Revenue
2017 : $302.963mil
2016 : $228.527mil
% Growth : +32.57

Receivable
2017 : $133.130mil
2016 :  $98.943mil
% Growth : +35.71

Rising receivable looks inline with rising revenue

I will not invest in companies controlled by Allan Yap
Just look at his HK listed companies like Hanny and Rosedale.
Deep value also useless. Keep issuing shares even though
Companies has tons of cash and assets.

Hi Opmi,

Please elaborate on the reason as such one liner is hard to comprehend. Is it because he has a reputation to run companies which do not treat minority shareholders fairly?

Tat Seng's latest FY17 AR...
http://infopub.sgx.com/FileOpen/TAT%20SE...eID=495958

Tat Seng is very much run by MD/CEO Loh See Moon, who has a 15% personal interest in the company and is one of the founders. His track record in growing and running the business all these years is there for people to see. It is conceivable that Hanwell (which has a 63.95% interest in Tat Seng) and Loh would eventually sell their combined interests to the highest bidder, when Loh retires or Hanwell finds a party keen to take over its controlling stake. Meanwhile, Tat Seng shareholders can continue the ride of seeing the business under Loh's able management growing further in the vast PRC market and enjoying the good yearly dividends.

(14-04-2018, 05:09 PM)opmi Wrote: I will not invest in companies controlled by Allan Yap
Just look at his HK listed companies like Hanny and Rosedale.
Deep value also useless. Keep issuing shares even though
Companies has tons of cash and assets.

Quite fully agreed with u.

Being holding hanwell for far too long & see share value being destroyed gradually.  Has huge cash war chest yet give peanut dividends.  Didnt really have a chance to ask him during agm & hope someone can ask this year.

(14-04-2018, 07:13 PM)hh488 Wrote:

(14-04-2018, 05:09 PM)opmi Wrote: I will not invest in companies controlled by Allan Yap
Just look at his HK listed companies like Hanny and Rosedale.
Deep value also useless. Keep issuing shares even though
Companies has tons of cash and assets.

Quite fully agreed with u.

Being holding hanwell for far too long & see share value being destroyed gradually.  Has huge cash war chest yet give peanut dividends.  Didnt really have a chance to ask him during agm & hope someone can ask this year.

Apple Facebook Berkshire all keep a lot of cash and 0 dividend. 
Tat Seng has recently execute for expansion.

Ur negative sentiment only base on money not into ur pocket.

(15-04-2018, 02:41 AM)Terry Wrote:

(14-04-2018, 07:13 PM)hh488 Wrote:

(14-04-2018, 05:09 PM)opmi Wrote: I will not invest in companies controlled by Allan Yap
Just look at his HK listed companies like Hanny and Rosedale.
Deep value also useless. Keep issuing shares even though
Companies has tons of cash and assets.

Quite fully agreed with u.

Being holding hanwell for far too long & see share value being destroyed gradually.  Has huge cash war chest yet give peanut dividends.  Didnt really have a chance to ask him during agm & hope someone can ask this year.

Apple Facebook Berkshire all keep a lot of cash and 0 dividend. 
Tat Seng has recently execute for expansion.

Ur negative sentiment only base on money not into ur pocket.

Apple Facebook Berkshire all keep a lot of cash and 0 dividend. 

Apple FB Berkshire are of different kinds to compare Hanwell .  At least those companies share prices keep moving up.  So who would complain if one is holding them even without getting dividends?

Chairman of Hanwell and Tat Seng declared bankrupt but status not disclosed by firms
Source: Business Times
Article Date: 24 Sep 2020
Author: Tay Peck Gek
This is despite Companies Act prohibiting a bankrupt from being director.

The executive chairman of Hanwell Holdings and Tat Seng Packaging Group was made bankrupt in August, but these two Singapore-listed companies have to date not acted on Allan Yap's directorship even though the law prohibits a bankrupt from being director.

Mr Yap was declared bankrupt after the court in Hong Kong granted a bankruptcy petition by creditors over debts of more than HK$685 million (S$121 million) arising out of personal guarantees given by the 64-year-old in respect of the liabilities of Hong Kong-listed Master Glory Group.

This has led to Master Glory announcing in a notice to the Stock Exchange of Hong Kong about the disqualification of Mr Yap as executive chairman following his bankruptcy with effect from Aug 3.

Master Glory, formerly Hanny Holdings, is an investment holding company principally engaged in security, property and water supply businesses, but it is now in liquidation.

https://www.singaporelawwatch.sg/Headlin...d-by-firms

Why he wanna give personal guarantee to hanny?