Wing Tai Holdings

from what I read, the whole deal is for Wing Tai (HK) to own 100% of its desired business without any cash outlay. Essentially, the proceed from sale of shares in Winsor is used to buy out all minority shareholders in the privateco (distribution in specie).

(17-05-2012, 03:27 PM)freedom Wrote: from what I read, the whole deal is for Wing Tai (HK) to own 100% of its desired business without any cash outlay. Essentially, the proceed from sale of shares in Winsor is used to buy out all minority shareholders in the privateco (distribution in specie).

Wing Tai HK also profits out of the transaction anyway. plus they get cash dividends from Winsor properties.

More importantly Wing Tai stake in Wing tai HK has jumped up by 40million SGD.

And take a close look at Wing Tai Malaysia. They are going to declare section 108 tax credits dividend back to shareholders soon.

dividend out from Wing Tai Malaysia is more bad news than good news. It is taking cash out of Wing Tai as Wing Tai Malaysia is a subsidiary of Wing Tai, the value of Wing Tai is it as a group rather than an individual company.

(08-05-2012, 09:20 PM)ngcheeki Wrote: ACQUISITION OF 66 STRATA-TITLED OFFICE UNITS IN THE PROPERTY KNOWN AS BURLINGTON SQUARE LOCATED AT 175A BENCOOLEN STREET, SINGAPORE

http://info.sgx.com/webcoranncatth.nsf/V...800441A5D/$file/A_BSQacquisitionF_080512.pdf?openelement

The Board of Directors of Guthrie GTS Limited (the “Company”) wishes to announce that its
joint venture company, Guthrie-SV Pte. Ltd. (“GSV”), has incorporated eight wholly-owned
subsidiaries, Guthrie-SV BSQ5 Pte. Ltd. (“BSQ5”), Guthrie-SV BSQ6 Pte. Ltd. (“BSQ6”),
Guthrie-SV BSQ7 Pte. Ltd. (“BSQ7”), Guthrie-SV BSQ8 Pte. Ltd. (“BSQ8”), Guthrie-SV
BSQ9 Pte. Ltd. (“BSQ9”), Guthrie-SV BSQ10 Pte. Ltd. (“BSQ10”), Guthrie-SV BSQ11 Pte.
Ltd. (“BSQ11”) and Guthrie-SV BSQ12 Pte. Ltd. (“BSQ12” and together with BSQ5, BSQ6,
BSQ7, BSQ8, BSQ9, BSQ10 and BSQ11, the “BSQ Subsidiaries”), to acquire a total of 66
strata-titled office units (the “Units”) in the property known as Burlington Square located at
175A Bencoolen Street, Singapore (the “Property”) for an aggregate purchase price of
$89.3 million (the “Transaction”).

"Each of the BSQ Subsidiaries entered into a sale and purchase agreement (the “SPA”) with
Burlington Square Properties Pte Ltd and Burlington Square Investment Pte Ltd (collectively,
the “Vendors”) to acquire the Units. A deposit equivalent to 10% of the Purchase Price was
paid upon execution of the SPA. The balance of 90% of the Purchase Price will be payable
on completion which shall take place on 31 July 2012. "

Burlington Square Properties Pte Ltd and Burlington Square Investment Pte Ltd is 50% owned by Wing Tai Holdings. Hence, it will recognize some profit from the above divestment to Guthrie.

SINGAPORE: A total of 66 strata-titled office units in Burlington Square have been put up for sale by expression of interest by property consultant, Colliers International.

In a statement, Colliers said buyers are to submit their offer by noon on April 18, 2012.

Burlington Square is a mixed development located at Bencoolen Street and it sits on a 99-year leasehold site with effect from June 1996.

Colliers said the 66 strata office units are distributed over the fifth to twelfth floors of the building and have a total strata area of 67,738 square feet.

The occupancy rate is close to 90 per cent, at an average monthly gross rent of S$5.80 per square foot.

Meanwhile, new tenancy and renewed leases are achieving a monthly gross rent of up to S$7 psf.

Ms Tang Wei Leng, Executive Director of Investment Services of Colliers International said, "The subject property can be sold collectively to a single purchaser or separately to various individual buyers. Indicative price for the subject property is approximately S$101 million, or S$1,500 per sq ft."

- CNA/fa


http://www.channelnewsasia.com/stories/s...64/1/.html

RNAV of Wing Tai is now $2.80 post Winsor transaction, the divestment of Gieves and Hawkes for 90pound million and the TOP of Ascentia Sky and Floridian next and this quarter respectively.

Have received voting document for the 15 % offer by the Cheung Fellow. (This is the first time i experience this kind of partial offer)
i am not selling, therefore i must vote against. If majority voted for, can i still refuse to sell the 15% of my holding to this Cheung Fellow??

(26-05-2012, 05:39 PM)Temperament Wrote: Have received voting document for the 15 % offer by the Cheung Fellow. (This is the first time i experience this kind of partial offer)
i am not selling, therefore i must vote against. If majority voted for, can i still refuse to sell the 15% of my holding to this Cheung Fellow??

section A is to vote "FOR" or "AGAINST".

section B is to surrender part or all of your shares. If you don't wish to accept Cheung's offer, just fill section B with 0 & 0.

(26-05-2012, 06:53 PM)freedom Wrote:

(26-05-2012, 05:39 PM)Temperament Wrote: Have received voting document for the 15 % offer by the Cheung Fellow. (This is the first time i experience this kind of partial offer)
i am not selling, therefore i must vote against. If majority voted for, can i still refuse to sell the 15% of my holding to this Cheung Fellow??

section A is to vote "FOR" or "AGAINST".

section B is to surrender part or all of your shares. If you don't wish to accept Cheung's offer, just fill section B with 0 & 0.

i mean if majority voted for will it over-ride the minority voted against. Or can i still retain my against vote.

(26-05-2012, 07:59 PM)Temperament Wrote:

(26-05-2012, 06:53 PM)freedom Wrote:

(26-05-2012, 05:39 PM)Temperament Wrote: Have received voting document for the 15 % offer by the Cheung Fellow. (This is the first time i experience this kind of partial offer)
i am not selling, therefore i must vote against. If majority voted for, can i still refuse to sell the 15% of my holding to this Cheung Fellow??

section A is to vote "FOR" or "AGAINST".

section B is to surrender part or all of your shares. If you don't wish to accept Cheung's offer, just fill section B with 0 & 0.

i mean if majority voted for will it over-ride the minority voted against. Or can i still retain my against vote.

as long as you fill section B with 0s, no matter the result is "FOR" or "AGAINST", you will not lose your shares.

Isnt it a good idea to sell our shares to cheung brothers at $1.39 and buy back from the open market at a lower price, regardless of the price we paid for our shares?

I can understand that if we have bought the shares at say $1.60, it feels silly to sell at a loss but it seems like you can buy back the shares at a lower price than 1.39

I am making the assumption that after the partial offer, the share price should remain at 1.30 or below. Given the current bear market, it seems likely