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Don't get emotional,
This is biz!
Look out for next counter to invest in and HUAT HAR!
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR!
4) In BULL, SELL-SELL-SELL!
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I have closed my chapter on Tsit Wing. Looking back, the 20.0m shares placed out to a PRC (?) based institutional investor at $0.245/share in Apr2011 - and the fact that Peter Wong managed to buy this block of shares at $0.3075/share recently which triggered the GO - could well be a trick. Yeoman's subsequent sale of its smaller block at the same price further added to Peter Wong's position of strength - plus the 30.49% block held by his brother - against the remaining minority shareholders. Overall, Peter Wong has won in his 2nd attempt and proven himself to be quite a shrewd businessman!
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10-07-2013, 01:11 PM
(This post was last modified: 10-07-2013, 02:25 PM by opmi.)
shrewd meh??? part of the standard script. Whether dare or want to do or not.
lesson learnt here: If buying undervalued stocks, always vote AGAINST AND KP about share issuance resolution other than rights issue at AGM.
Coz you never know who these 10% placement shares are placed to. And how friendly are they to controlling shareholders.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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Yea even if not friendly terms it still reduces the public float and hence towards delist
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10-07-2013, 04:44 PM
(This post was last modified: 10-07-2013, 04:44 PM by brattzz.)
(10-07-2013, 01:11 PM)opmi Wrote: shrewd meh??? part of the standard script. Whether dare or want to do or not.
lesson learnt here: If buying undervalued stocks, always vote AGAINST AND KP about share issuance resolution other than rights issue at AGM.
Coz you never know who these 10% placement shares are placed to. And how friendly are they to controlling shareholders.
This brings back some memories... i remember 1 shareholder sitting beside me in AGM2011, he really KP to Chairman Wong, asking why need to do placement when can borrow from bank easily... then he ask Chairman Wong to DELIST lah! on the very same day, this shareholder sold off his holdings via married deal at 24cts to KC...if he had held on till today... well...
Looking back, yes, Chairman Wong
DID plan for this step after his failed 1st attempt.
However, i have to say thank you to Chairman Wong, all in all, his 2nd attempt price is higher than the 1st attempt, and i did profit from it.
1st time dealing with Hongkonger.
Learn a great deal from this counter. Seen YEOMAN in action too!
What a ride!
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR!
4) In BULL, SELL-SELL-SELL!
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what was the lesson learnt in yeoman's move? i dun seem to pick up anything from yeoman's action.
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(10-07-2013, 05:12 PM)pianist Wrote: what was the lesson learnt in yeoman's move? i dun seem to pick up anything from yeoman's action.
his quick sell-off at market on the 1st day of offer (emails to minority shareholders)... no point hanging on... haha!
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR!
4) In BULL, SELL-SELL-SELL!
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Was thinking about what yeoman mistake (if any).
Should have KP to SGX about the placement or share issuance resolution. The placement need approval from SGX. should have complained about the placement altering the shareholder structure. reducing the non public float. and also the purpose of fund raising (if it just for unspecified general working capital).
Mr Yeo KP will carry more weight than other retail investors
when nobody complains, regulators also won't bother.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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SUSPENDED liao, bye bye Tsit Wing!
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR!
4) In BULL, SELL-SELL-SELL!