New Silkroutes Group (formerly: Digiland International)

[Musicwhiz]

Gosh! Digiland is still having a rights issue of 0.1 cents/share! And 20 billion shares will be issued. Simply amazing!

(Not Vested)

[RBM]

I believe this is the same company that announced three consecutive years of losses today. In their SGX announcement they stated a market cap of S$ 20.4 Million. If Digiland had made the announcement yesterday the market cap would have been S$ 10.2 Million......... thats because the share price doubled today .......... erm .......... from erm...... S$ 0.001 to S$ 0.002. I believe Digiland may win the prize for the first company listed on the SGX to actually have a share price of S$ 0.001 AND which then has a "rebound".

I am told there is nothing wrong or non-permitted in what Digiland is doing here with its 20 Billion Share 0.1 SCent Rights Issue. But does it heighten the reputation of Singapore's SGX? I am in the camp that it does SGX's reputation no good whatsoever.

[xaley]

Eh, anyone vested in this ah? From wikipedia:

Companies are only listed on the Singapore Exchange if they do well. If their average daily market capitalisation is less than $40 million over the last 120 market days, then it is placed on a watch-list, and if it does not improve within two years it is delisted from the Singapore Exchange.

Then I went to SGX website to look:

Entry date on watch list: 5 December 2011

Then one more quarter they force to delist?

Looks like hopeless already...time running out.

[dydx]

Digiland as a company together with its management is a terrible disgrace for incompetence and destroying shareholders' invested capital and wealth. As a stock counter, Digiland is a terrible disgrace to SGX as a custodian/protector of investors' well-being against dubious companies and management who milk listed companies' capital and resources.

[LionFlyer]

I have 200 lots from close to 10 years ago when I started investing as a constant reminder of what-not-to-do. That's the only real value Digiland had given me.

[CityFarmer]

One comment on the company share price, in other forum, was "the share price will not go lower, than its 0.1 cent". It was a "hot" stock previously.

[dydx]

One comment on the company share price, in other forum, was "the share price will not go lower, than its 0.1 cent". It was a "hot" stock previously.

Granted technically this counter will not go lower, as 0.1-cent (or $0.001) is the lowest possible quoted price under the current SGX pricing regime/system, it doesn't mean at all that Digiland is a fair and low-risk buy at 0.1-cent, for what you get in terms of real intrinsic value is almost certainly less than 0.1-cent! The fact that its latest (as at 30Jun13) NAV/share at 0.066-cent (or $0.00066) is pointing starkly towards and exactly that!....
http://infopub.sgx.com/FileOpen/FullYear...eID=254723

[CY09]

One comment on the company share price, in other forum, was "the share price will not go lower, than its 0.1 cent". It was a "hot" stock previously.

While the price listed on SGX will not go lower than 0.1cent, it is possible for digiland to issue 1 right for every 2 hares @0.1 cent to "bring down the price".

[CityFarmer]

One comment on the company share price, in other forum, was "the share price will not go lower, than its 0.1 cent". It was a "hot" stock previously.

While the price listed on SGX will not go lower than 0.1cent, it is possible for digiland to issue 1 right for every 2 hares @0.1 cent to "bring down the price".

Fully agree. I am not advocating it is worth a bet. I am just relying the speculators' view from other forum.

In fact, one of my friends bought it and regretting now, even he was pre-warned.

[brattzz]

$0.00066

HAR??!!! :O