Sino Grandness

[PkNanas]

We will know by May this year if the company has real hard cash to pay what they promised.

The way I look at it, why bondholders willing to take 'haircut' of their benefit (ipo conversion rate, interest rate) is because they are getting more and more impatient and unsecured by the delay strategy of SG management. The ipo can be delayed forever, so most realistic is to get back the hard cash.

Let's see if SG chu pattern again when comes to payment date. We shall wait and see...

Yup another quarter to see anymore pattern, I am betting a fund raising exercise before that with excuse of more expansion or sexy acquisition story.

I find the logic of the partial payment funny leh, if IPO can make so much, SG should just pay back the CB completely and keep all the IPO profits for themselves. And why not whilst they are at it, since share price is so depressed, launch a privatisation to keep all the IPO moolah for themselves??

really "pattern duo guo badminton"

hope investors dun kena played until "song song kau Jurong"

Can it be explained as followed?
- the cash has to come from either future operation cash flow or new share sale in the IPO;
- currently it has not enough cash to pay off the bond, hence IPO should take place in coming 3 months, else bank loan if IPO does not happen in 3 months, then IPO should happen within 12 months.