Posts: 9,841
Threads: 711
Joined: Mar 2012
Reputation:
64
(11-06-2013, 10:39 PM)PkNanas Wrote: http://info.sgx.com/webcorannc.nsf/Annou...endocument
Book Closure Date of Special Dividend of 1.6cts is on 19 June, 2013.
A question for Buddies:
Based on 1Q2013 Financial Statement, most of asset is Cash (about USD79m), except the rest of USD5.3m is Non-Current asset.
Currently, Elite KSB asset is mainly in cash, and it is a Cash Company.
Why this counter is not designated as Cash Company?
I don't know much about the company, but a quick glance on the fact sheet, NAV = ~23 cents, Cash in hand = ~14 cents, so it is hardly substantially in cash to quality as cash company, isn't it?
(not vested)
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
Posts: 53
Threads: 0
Joined: Jul 2011
Reputation:
0
(12-06-2013, 10:50 AM)CityFarmer Wrote: (11-06-2013, 10:39 PM)PkNanas Wrote: http://info.sgx.com/webcorannc.nsf/Annou...endocument
Book Closure Date of Special Dividend of 1.6cts is on 19 June, 2013.
A question for Buddies:
Based on 1Q2013 Financial Statement, most of asset is Cash (about USD79m), except the rest of USD5.3m is Non-Current asset.
Currently, Elite KSB asset is mainly in cash, and it is a Cash Company.
Why this counter is not designated as Cash Company?
I don't know much about the company, but a quick glance on the fact sheet, NAV = ~23 cents, Cash in hand = ~14 cents, so it is hardly substantially in cash to quality as cash company, isn't it?
(not vested)
The fact only capture 1Q2013, i.e dated 31 March 2013.
In this financial statement's Balanced Sheet, the Asset & Liability that classified as "disposal group", the disposal has been done. If you took out these from Balance, the Balance Sheet is largely comprised of Cash.
The Special Dividend is declared because the Disposal has been completed on 30 April 2013.
Posts: 27
Threads: 1
Joined: May 2013
Reputation:
1
14-06-2013, 09:48 PM
(This post was last modified: 14-06-2013, 09:50 PM by oys-ter.)
The sale proceed from divestment of Ocean Sky Global Pte Ltd (a max of USD$55 mil) is not reflected in the 1Q2013 Financial Statement as the transaction was completed on 2Q2013 (30/4/2013).
Fixed deposit = US$15 mil
Cash and bank balance = US$24.57 mil
Sale proceed from divestment of Ocean Sky Global Pte Ltd = US$55 mil (not included in 1Q2013 financial statement)
Dividend of S$0.024 given out in 2013 = US$8.7 mil (Taking USD/SGD = 1.25)
Total Cash in company = US$15 mil + US$24.57 mil + US$55 mil - US$8.7 mil = US$85.87 mil
Cash per share = US$0.191 = S$0.238
Essentially, Ocean sky is currently trading at a discount to the cash held and is a net cash company with little liabilities.
Posts: 2,640
Threads: 235
Joined: Sep 2010
Reputation:
28
Posts: 564
Threads: 2
Joined: Sep 2010
Reputation:
17
Not too late to buy now right?
Share price $0.205 is supported by $0.244 cash per share. Best of all, you will take back $0.13 real soon.
Less ALL liabilities, cash per share is still $0.228 + an existing stake and a call option on ATS + Cambodia land + shell for RTO.
$0.13 dividend, stock price only move by $0.02...should cheong some more lah...
Posts: 24
Threads: 0
Joined: May 2013
Reputation:
1
The danger is that the date of the $0.13 dividend is not declared.
Is there a deadline SGX imposes on dividend declarations? e..g Can a company declare a dividend but only distributes a year later?
(15-08-2013, 11:30 AM)cif5000 Wrote: Not too late to buy now right?
Share price $0.205 is supported by $0.244 cash per share. Best of all, you will take back $0.13 real soon.
Less ALL liabilities, cash per share is still $0.228 + an existing stake and a call option on ATS + Cambodia land + shell for RTO.
$0.13 dividend, stock price only move by $0.02...should cheong some more lah...
Posts: 564
Threads: 2
Joined: Sep 2010
Reputation:
17
(15-08-2013, 02:20 PM)nathanmaloney Wrote: The danger is that the date of the $0.13 dividend is not declared.
Is there a deadline SGX imposes on dividend declarations? e..g Can a company declare a dividend but only distributes a year later?
(15-08-2013, 11:30 AM)cif5000 Wrote: Not too late to buy now right?
Share price $0.205 is supported by $0.244 cash per share. Best of all, you will take back $0.13 real soon.
Less ALL liabilities, cash per share is still $0.228 + an existing stake and a call option on ATS + Cambodia land + shell for RTO.
$0.13 dividend, stock price only move by $0.02...should cheong some more lah...
You have a very valid point. I remember Aspial did it before.
Posts: 9,841
Threads: 711
Joined: Mar 2012
Reputation:
64
(15-08-2013, 03:02 PM)cif5000 Wrote: (15-08-2013, 02:20 PM)nathanmaloney Wrote: The danger is that the date of the $0.13 dividend is not declared.
Is there a deadline SGX imposes on dividend declarations? e..g Can a company declare a dividend but only distributes a year later?
(15-08-2013, 11:30 AM)cif5000 Wrote: Not too late to buy now right?
Share price $0.205 is supported by $0.244 cash per share. Best of all, you will take back $0.13 real soon.
Less ALL liabilities, cash per share is still $0.228 + an existing stake and a call option on ATS + Cambodia land + shell for RTO.
$0.13 dividend, stock price only move by $0.02...should cheong some more lah...
You have a very valid point. I remember Aspial did it before.
To make thing worse, IIRC, there was incident where declared dividend been cancelled later... I am not able to recall which one...
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
Posts: 564
Threads: 2
Joined: Sep 2010
Reputation:
17
(15-08-2013, 03:29 PM)CityFarmer Wrote: (15-08-2013, 03:02 PM)cif5000 Wrote: (15-08-2013, 02:20 PM)nathanmaloney Wrote: The danger is that the date of the $0.13 dividend is not declared.
Is there a deadline SGX imposes on dividend declarations? e..g Can a company declare a dividend but only distributes a year later?
(15-08-2013, 11:30 AM)cif5000 Wrote: Not too late to buy now right?
Share price $0.205 is supported by $0.244 cash per share. Best of all, you will take back $0.13 real soon.
Less ALL liabilities, cash per share is still $0.228 + an existing stake and a call option on ATS + Cambodia land + shell for RTO.
$0.13 dividend, stock price only move by $0.02...should cheong some more lah...
You have a very valid point. I remember Aspial did it before.
To make thing worse, IIRC, there was incident where declared dividend been cancelled later... I am not able to recall which one...
Sure anot? Cannot scare ppl you know, esp moderator. Pls try hard to recall ok? Under what circumstances they cancel? Company got money anot in the first place?
Posts: 24
Threads: 0
Joined: May 2013
Reputation:
1
That's quite shocking to hear too.
But at least the current share price is still supported by NAV and ample cash on hand. Not as dodgy as S chips but there's no doubt there's a bigger story behind this enormous 0.13 dividend.
I smell a buyout or RTO.
quote='cif5000' pid='58671' dateline='1376552674']
(15-08-2013, 03:29 PM)CityFarmer Wrote: (15-08-2013, 03:02 PM)cif5000 Wrote: (15-08-2013, 02:20 PM)nathanmaloney Wrote: The danger is that the date of the $0.13 dividend is not declared.
Is there a deadline SGX imposes on dividend declarations? e..g Can a company declare a dividend but only distributes a year later?
(15-08-2013, 11:30 AM)cif5000 Wrote: Not too late to buy now right?
Share price $0.205 is supported by $0.244 cash per share. Best of all, you will take back $0.13 real soon.
Less ALL liabilities, cash per share is still $0.228 + an existing stake and a call option on ATS + Cambodia land + shell for RTO.
$0.13 dividend, stock price only move by $0.02...should cheong some more lah...
You have a very valid point. I remember Aspial did it before.
To make thing worse, IIRC, there was incident where declared dividend been cancelled later... I am not able to recall which one...
Sure anot? Cannot scare ppl you know, esp moderator. Pls try hard to recall ok? Under what circumstances they cancel? Company got money anot in the first place?
[/quote]
|
Homepage
PR Newswire
