China Everbright (formerly: HanKore Environmental Tech Group)

[weijian]

I am curious, accounting wise, how to split the gain in 2 different FY?
I take it as sold half before 31 Mar 2014?

I guess it depends on how the asset is held on the balance sheet. If it is 'available for sale' asset, then it should be marked to market every quarterly. So the gain is recognized in income statement and balance sheet, but not in cash flow statement.

*did not look at Boustead financial reports and just making a guess.

[CityFarmer]

FF Wong just confirmed that Boustead has sold its 10m (post consolidation) of Hankore shares for good profits.

Is the confirmation via SGX announcement?

Post-consolidation means sold just few days ago.

(vested)

Actually, he mentioned during the results media cast. Think its before consolidation. He mentioned they held 100m shares @ $0.04, sold close to $0.12. About half the gains already booked with the balance into this year.

Er... so it is pre-consolidation. Post consolidation transaction started 22 May 2014

IIRC, the share was bought by Mr. Wong himself, rather than by his company. The shareholder name in Hankore AR is Wong FF. It shouldn't be in the company balance sheet, IMO

GG, no offend, may be we are not talking the same thing, or a communication breakdown?

(vested)

[AlphaQuant]

Boustead did take a stake in Hankore in 2011 (announcement link below)

quite surprised they sold it away given that in the past they said it was a useful way to get more feel on the China water-treatment market.

***********
http://infopub.sgx.com/FileOpen/Boustead...eID=102715

Singapore, 27 April 2011
Further to the announcement dated 22 December 2010, the Board of Directors of Boustead Singapore Limited (the "Company") wishes to announce that the acquisition of 100,000,000 shares in the capital of Bio-Treat Technology Limited at the price of S$0.04 each for a consideration of S$4,000,000 by Boustead Knowledge Pte Ltd, a whollyowned subsidiary of the Company, from Giant Delight Holdings Limited was completed
on 27 April 2011.

[CityFarmer]

Boustead did take a stake in Hankore in 2011 (announcement link below)

quite surprised they sold it away given that in the past they said it was a useful way to get more feel on the China water-treatment market.

***********
http://infopub.sgx.com/FileOpen/Boustead...eID=102715

Singapore, 27 April 2011
Further to the announcement dated 22 December 2010, the Board of Directors of Boustead Singapore Limited (the "Company") wishes to announce that the acquisition of 100,000,000 shares in the capital of Bio-Treat Technology Limited at the price of S$0.04 each for a consideration of S$4,000,000 by Boustead Knowledge Pte Ltd, a whollyowned subsidiary of the Company, from Giant Delight Holdings Limited was completed
on 27 April 2011.

OK, my memory did fail me this round. My apologies.

[greengiraffe]

31 May deadline - its a Saturday and do you think anyone should be waiting for so long to hammer a deal?

May be they will announce the details early next week.

Too skeptical
GG

[yawnyawn]

The Board is pleased to announce on 2 June 2014, CEWHL (a wholly-owned subsidiary of the Company) as vendor and HanKore as purchaser entered into the Sale and Purchase Agreement in respect of the proposed disposal by CEWHL of the entire issued share capital of CEWIL to HanKore. After completion of the Acquisition and the Disposal, CEWHL will hold approximately 79.21% of the enlarged issued capital of HanKore (assuming no conversion of options and warrants of HanKore).

http://www.hkexnews.hk/listedco/listcone...602015.pdf

RTO's details are out!

Hmm, CEWHL will hold 79.21% of enlarged issue capital of Hankore. This is greater than what most analysts predicted. I think CEI got a better end of the deal.

(Vested)

[greengiraffe]

Based on announcement, the following are the statistics:

Historical PER - 20x FY12/13
P/B (before capitalising HK$1.2bn debt) - 2.9x
P/B (post capitalising HK$1.2bn debt) - 1.8x

New shares being issued at $0.703, 41.4% discount to last traded price.

Looks to me like an extremely good deal to vendor. Luckily Boustead has disposed off all their 100m shares in Hankore before the share consolidation.

Anyway, such deals are quite common in the late 80s & in the 90s with Malaysian companies. Welcome to the bubbling industry but this time round - Made in China.

Odd Lots Vested
GG

[ValueMaster]

where is cityfarmer?

so like to catch falling knife right hahahaha

your stake is sooo diluted

buy more yangzijiang, buy more hankore yeah hahahahahaha

[Bibi]

where is cityfarmer?

so like to catch falling knife right hahahaha

your stake is sooo diluted

buy more yangzijiang, buy more hankore yeah hahahahahaha

If more pp behave like u and like to gloat at other's failure, who will want to share their stock pick here? And the verdict is not out yet so YZJ and Hankore still stand a chance. Anyway i think CF bought them at low prices. Even if he chose to sell he still earn a decent profit.

[brattzz]

waos... "New shares being issued at $0.703, 41.4% discount to last traded price."... around 7cts pre-consolidation?