Great Eastern Holding

(13-05-2013, 06:26 PM)Gallen Wrote:

(13-05-2013, 06:03 PM)kbl Wrote: WBL game over. Good for GE

http://info.sgx.com/webcoranncatth.nsf/V...A00342755/$file/NewsRelease.pdf?openelement

Congratulations Kbl-san

Good evening Gallen san

wish u a nice evening with your loved 1s. gtg

Pardon me - my head is spinning on the wbl deal.

So far, GE/OCBC/Lee Family are acting in concert with UE. Unless GE/OCBC accepts UE offer,they are still not off the hook in WBL.

What if UE overpays for WBL, GE/OCBC will also suffer with their stake in UE. Of course, UE/WBL is small change for GE/OCBCand with their wrong term horizon, time will heal all wounds.

Please correct me if I am wrong.

Blur GG

St Trading already accept the UE Cash offer for WBL-$4.50 per share. GE will get $4.50 per share in Cash too. Please go and read the UE cash offer for WBL announcement.
GE sold FNN and APB for Cash. GE now selling WBL for Cash too. Next UE?

http://info.sgx.com/webcoranncatth.nsf/V...6003B0502/$file/RevisionOfferAnnouncement_9May13.pdf?openelement

Sorry leh... still blur... they said GE/OCBC/Lee Family parties acting in concert ... no indications that they have accepted UE's offer...

Blur GG

I think ideally GE and OCBC just wanna get rid of all their non core assets
WBL and UE deal is just like left hand pass right hand

end up the assets are consolidated into UE and their next step is to clear UE off, either by selling in whole or parts
at the same time, due to the sale of WBL they also get to book a very nice gain ^^

---

I think at the end of the day everybody wins except UE shareholders... donking good cash away that doesn't really add much value to shareholders of UE

(13-05-2013, 11:27 PM)greengiraffe Wrote: Sorry leh... still blur... they said GE/OCBC/Lee Family parties acting in concert ... no indications that they have accepted UE's offer...

Blur GG

http://info.sgx.com/webcoranncatth.nsf/V...D0003D8E3/$file/MGO_Announcement_120313.pdf?openelement

Dear GG-san,

I believe the offer document implies that GE/OCBC/Lee Family parties accept UE's offer:

1. Unlike OUE's offer for F&N, GE/OCBC/Lee Family are not part of a consortium of the Offeror.
Page 8: "The Offeror is a company incorporated in Singapore on 18 January 2013 and is a direct wholly-owned subsidiary of UE."

2. Page 14: "Confirmations have been obtained from the following parties who collectively own or control an aggregate of approximately 39.53%6 of the total number of issued WBL Stock Units following the Conversion, inter alia, that they will not be selling during the period of the Mandatory Offers any of their Relevant Securities whether pursuant to the Mandatory Offers or otherwise (the “Concert Party Group Confirmations”)"

Note that OCBC/GE/Lee Family will not sell their shares during the offer period, not that they will not sell to the Offeror.

3. Most importantly, page 11: "It is not the intention of the Offeror to preserve the listing status of the Company."

Since WBL will be delisted, all the shares will be under the name of the Offeror which is a direct wholly owned subsidiary of UE.
This can only imply that GE/OCBC/Lee Family will accept UE's offer.

(14-05-2013, 12:00 AM)Gallen Wrote:

(13-05-2013, 11:27 PM)greengiraffe Wrote: Sorry leh... still blur... they said GE/OCBC/Lee Family parties acting in concert ... no indications that they have accepted UE's offer...

Blur GG

http://info.sgx.com/webcoranncatth.nsf/V...D0003D8E3/$file/MGO_Announcement_120313.pdf?openelement

Dear GG-san,

I believe the offer document implies that GE/OCBC/Lee Family parties accept UE's offer:

1. Unlike OUE's offer for F&N, GE/OCBC/Lee Family are not part of a consortium of the Offeror.
Page 8: "The Offeror is a company incorporated in Singapore on 18 January 2013 and is a direct wholly-owned subsidiary of UE."

2. Page 14: "Confirmations have been obtained from the following parties who collectively own or control an aggregate of approximately 39.53%6 of the total number of issued WBL Stock Units following the Conversion, inter alia, that they will not be selling during the period of the Mandatory Offers any of their Relevant Securities whether pursuant to the Mandatory Offers or otherwise (the “Concert Party Group Confirmations”)"

Note that OCBC/GE/Lee Family will not sell their shares during the offer period, not that they will not sell to the Offeror.

3. Most importantly, page 11: "It is not the intention of the Offeror to preserve the listing status of the Company."

Since WBL will be delisted, all the shares will be under the name of the Offeror which is a direct wholly owned subsidiary of UE.
This can only imply that GE/OCBC/Lee Family will accept UE's offer.

So that's neh... sorry I really laobei liao... must learn more from youngsters like all of you...

This is 长江后浪推前浪。Really must learn from all buddies here.

Thanks for all the help,buddies.

Salute
GG

http://info.sgx.com/webcoranncatth.nsf/V...A0054948E/$file/OffersUnconditionalAnn.pdf?openelement

---

http://info.sgx.com/webcoranncatth.nsf/V...A0054948E/$file/Pressrelease.pdf?openelement

(14-05-2013, 06:21 AM)greengiraffe Wrote: So that's neh... sorry I really laobei liao... must learn more from youngsters like all of you...

This is 长江后浪推前浪。Really must learn from all buddies here.

Thanks for all the help,buddies.

Salute
GG

ha, no, we have a lot to learn from your experience.
anyway, kbl and myself can't be considered as youngsters anymore

GE Owns 3.32% of New China Life Insurance Co - H Shares (2628.HK)

Tej Company Profile - New China Life Insurance Company Ltd.
1348 words
31 May 2013
Taiwan Economic Journal - HongKong Company Profile
TEJHK
English
Copyright 2013. Taiwan Economic Journal Co. Ltd. All rights reserved.
Company Name : New China Life Insurance Company Ltd.
Address : NCI Tower A12 Jianguomenwai Avenue Chaoyan District,Beijing,PRC
Telephone : (8610)-85213233 Fax No 8610)-85213219
Stock Exchange: HKSE Stock Exchange Company Code : 01336
Industry Index: FINANCE Accounting End :12
Listing in : Main Board Employee No : 57,487
Listed Date : 2011/12/15 Establishment Date :
Chairman : KANG Dian
President :
Business : We provide a broad range of life insurance products and services to individual and institutional customers through our extensive distribution network in the country.

Balance Sheet (Units:Million)
-------------------------------------------------------------------------------------------------------------------
Code /Date RMB 2012/12 % RMB 2011/12 % RMB 2010/12 % RMB 2009/12 %
Total Fixed Assets 4,126 .84 4,284 1.11 2,922 .96 2,896 1.40
Long-term Inv. 263,495 53.37 215,126 55.62 197,925 64.99 157,825 76.38
Total Other Assets 17,951 3.64 13,717 3.55 11,565 3.80 8,487 4.11
Total Current Asset 203,947 41.31 151,569 39.19 91,334 29.99 37,064 17.94
Total Assets 493,693 100.00 386,771 100.00 304,566 100.00 206,618 100.00
Total Current Lib. 56,839 11.51 33,763 8.73 25,511 8.38 13,004 6.29
Long-term Lib. 15,000 3.04 5,000 1.29 0 .00 1,350 .65
Other Liabilities 4,970 1.01 4,151 1.07 18,319 6.01 4,044 1.96
Total Liabilities 457,815 92.73 355,458 91.90 297,993 97.84 202,375 97.95
Common Stock 3,120 .63 3,117 .81 1,200 .39 1,200 .58
Preferred Stock 0 .00 0 .00 0 .00 0 .00
Reserves 32,750 6.63 28,189 7.29 5,367 1.76 3,038 1.47
Minority Interest 8 .00 7 .00 6 .00 5 .00
Stockholders' Equit 35,878 7.27 31,313 8.10 6,573 2.16 4,243 2.05
Lib.& Equity 493,693 100.00 386,771 100.00 304,566 100.00 206,618 100.00

Income Statement (Units:Million)
-----------------------------------------------------------------------------------------------------------------------
Turnover 111,699 100.00 108,610 100.00 102,709 100.00 73,906 100.00
Gross Profit 111,699 100.00 108,610 100.00 102,709 100.00 73,906 100.00
Operating profit 4,033 3.61 4,079 3.76 2,517 2.45 2,844 3.85
Profit & Loss of In 1 .00 2 .00 1 .00 0 .00
Finance Cost 1,746 1.56 806 .74 263 .26 193 .26
Pre-tax Income 2,288 2.05 3,275 3.02 2,255 2.20 2,651 3.59
Income Tax Expense -646 -.58 475 .44 5 .00 -10 -.01
Net Profit 2,934 2.63 2,800 2.58 2,250 2.19 2,661 3.60
Minority Inter. ADJ 1 .00 1 .00 1 .00 1 .00
Consol. Net Profit 2,933 2.63 2,799 2.58 2,249 2.19 2,660 3.60
EPS(Cents) 94.00 124.00 187.00 222.00
No. of Weighted Ave 3,120 2,250 1,200 1,200

Financial Ratios

2012/12 2012/06 2011/12 2010/12 2009/12 2008/12
---------------------------------------------------------------------------------------------
Profit Ability
Return on Assets-A% .67 .45 .81 .88 1.43 NA
Return on Equity-A 8.73 5.75 14.78 41.61 94.51 NA
Pre-Tax Income Rati 2.05 2.38 3.02 2.20 3.59 .37
Net Income Ratio 2.63 3.01 2.58 2.19 3.60 1.33
Liquidity
Current Ratio 358.82 293.03 448.92 358.02 285.02 171.16
Times Interest Earn 2.31 2.92 5.06 9.57 14.74 1.48
Asset Turnover
Days-A/R Turnover 4.82 5.32 3.99 3.06 3.20 NA
Fixed Asset Turnove 26.56 13.51 30.14 35.31 27.87 NA

Share Holdings
Date : 2012/12
--------------------------------------------------------------------------------------------------------------------
Holding Holding
Share holder Duty Shares Ratio
------------ ---- ------- -------
Central Huijin Investment Limited Domestic shares Major Sharehol 974,173,154 31.23
Baosteel Group Company Ltd. Domestic shares Major Sharehol 471,212,186 15.11
HKSCC Nominees Limited H Shares Major Shareholders 461,926,260 14.81
Zurich Insurance Company Ltd H Shares Major Shareholders 390,000,000 12.50
Zurich Financial Services Ltd H Shares Major Shareholders 390,000,000 12.50
Legend Holdings Limited Domestic shares Major Sharehol 124,825,942 4.00
Chinese Academy of Sciences Holdings Co., Ltd. Domestic shares Major Sharehol 124,825,942 4.00
Chinese Academy of Sciences Domestic shares Major Sharehol 124,825,942 4.00
Hebei Deren Investment Co., Ltd. Domestic shares Major Sharehol 124,825,942 4.00
Beijing Hongyi 2010 Equity/@Investment Centre (Lim Domestic shares Major Sharehol 124,825,942 4.00
Hongyi Investment Management (Tianjin) (Limited Pa Domestic shares Major Sharehol 124,825,942 4.00
Beijing Hony Assets Management Co., Ltd. Domestic shares Major Sharehol 124,825,942 4.00
Hony Capital (Tianjin) Co., Ltd. Domestic shares Major Sharehol 124,825,942 4.00
Hony Capital (Beijing) Co., Ltd. Domestic shares Major Sharehol 124,825,942 4.00
Cao Yonggang Domestic shares Major Sharehol 124,825,942 4.00
XU Minsheng Domestic shares Major Sharehol 124,825,942 4.00
WANG Lijie Domestic shares Major Sharehol 124,825,942 4.00
Oversea-Chinese Banking Corporation Limited H Shares Major Shareholders 103,538,600 3.32
Great Eastern Holdings Limited H Shares Major Shareholders 103,538,600 3.32
Temasek Holdings (Private) Limited H Shares Major Shareholders 78,000,000 2.50
Fullerton Management Pte Ltd. H Shares Major Shareholders 78,000,000 2.50
Century Golden Resources Investment Group Co., Ltd Domestic shares Major Sharehol 78,000,000 2.50
China International Capital Corporation Limited H Shares Major Shareholders 65,000,000 2.08
China International Capital Corporation (Hong Kong H Shares Major Shareholders 65,000,000 2.08
CICC Principal Fund I L.P. H Shares Major Shareholders 65,000,000 2.08
CICC Securities (HK) Limited H Shares Major Shareholders 65,000,000 2.08
CICC Investment Group Company Limited H Shares Major Shareholders 65,000,000 2.08
CICC Growth Capital Fund GP, Ltd. H Shares Major Shareholders 65,000,000 2.08
CICC Principal Fund GP, Ltd. H Shares Major Shareholders 65,000,000 2.08
The Great Eastern Life Assurance Company Limited H Shares Major Shareholders 63,158,500 2.02
Tibet Shannan Xinshang Investment Management Limit H Shares Major Shareholders 45,288,722 1.45
Standard Chartered Principal Finance (Cayman) Ltd. H Shares Major Shareholders 39,000,000 1.25
ZHU Nan Song Supervisor 34,464,921 1.10
The Great Eastern Trust Private Limited H Shares Major Shareholders 31,061,600 1.00
Shanghai Zhengda Investment Company Domestic shares Major Sharehol 30,114,921 .97
The Overseas Assurance Corporation Limited H Shares Major Shareholders 9,318,500 .30

Dividends
------------------------------------------------------------------------------------------------------
Year Bonus Ex_date Curency Bonus% Right Ex_date Right-Issue% Cash(000) Listed-Date Div. Ex_date Dividend-HKD
---- ------------- ------- ------ ------------- ------------ --------- ----------- ------------ ------------
2012 .000 2012/01/11 .000 2,587 2012/08/08 .392794
2011 .000 2011/12/15 .000 358,420 2012/06/27 .110638

Per Share Ratios
Financial Data Date:2012/12 Currency:RMB
------------------------------------------------------------------------------
Sales Per Share /G 35.81 YOY% Total Assets/G 27.64 %
Operating Income Per Share/G 1.29 YOY% Total Equity/G 14.58 %
Pre_Tax Income Per Share /G .73 YOY% Fixed Assets/G -3.69 %
BEPS /G 11.50 Labitities % /G 92.73 %


Shares Market Movements (Units:HKD$)
------------------------------------------------------------------------------
Date Close Vol.(000) ROI Market Value(000)
---- ------ --------- --- -----------------
2013/05 26.700 34,532 -7.45 27,610,664
2013/04 28.850 30,478 9.07 29,833,994
2013/03 26.450 56,871 -15.90 27,352,137
2013/02 31.450 104,858 3.62 32,522,673
2013/01 30.350 68,575 3.06 31,385,155


Taiwan Economic Journal Co., Ltd.

Document TEJHK00020130603e95v000tz