Tiong Woon Corp

[dydx]

Book Closure Date for the coming 1-for-4 rights issue at $0.11 per rights share has been set for 27Feb12.....
http://info.sgx.com/webcoranncatth.nsf/V...80012B071/$file/TWCH_NoticeOfBookClosure_RI.pdf?openelement
, that means the likely Ex-Rights Date shall be 23Feb12 (Thursday).

[revolta]

when can i apply for the rights, i am going oversea soon.
I used my cpf during purchase, so can i use cpf to take the rights only, if yes, how to and what is the cost?

[dydx]

Based on the high over-subscription of 293.5% in valid acceptances and excess applications, the 1-for-4 Renounceable Non-Underwritten Rights Issue at $0.11 per each rights share appears to be a resounding success!.....
http://info.sgx.com/webcoranncatth.nsf/V...70031756D/$file/TWC_ResultRI.pdf?openelement

I just hope to get some extra shares at $0.11/share under my excess application.

[dydx]

Without any warning sign, this afternoon (5Apr12), Tiong Woon seems to have caught a little wind! Something positive coming?

[dydx]

Tiong Woon has been very actively traded since morning today (10Apr12). Any news?

[cif5000]

Sin Heng went up by as much. How about a merger?

[dydx]

Sin Heng went up by as much. How about a merger?

At the last done share price of $0.235 (at 1600 hrs), Sin Heng is now trading above its latest (31Dec11) NAV/share of $0.1929 (based on 459.34m outstanding issued shares).....
http://info.sgx.com/webcoranncatth.nsf/V...F00357AD5/$file/SHHML_2nd_Q_Results_31_Dec_2011_9_Feb_2012.pdf?openelement

As for Tiong Woon, the last done share price of $0.31 is still way below its latest (31Dec11) NAV/share of $0.5917, adjusted for the recent 1-for-4 rights issue at $0.11 for the new share - i.e. $0.4954 (based on 464.47m outstanding issued shares)......
http://info.sgx.com/webcoranncatth.nsf/V...F002F9CED/$file/TWCH_Results_2Q_2012.pdf?openelement

Since both Tiong Woon and Sin Heng are essentially engaged in the crane business, I suppose any potential merger of the 2 would have to take into account of their relative asset value/share and their respective outstanding issued shares.

[dydx]

While in the latest 3Q results the company again bled a little by posting a small net loss of $373k....
http://info.sgx.com/webcoranncatth.nsf/V...A002A2E22/$file/TWCH_3QFY2012Annt_10May2012.pdf?openelement [results announcement]
http://info.sgx.com/webcoranncatth.nsf/V...A002AB3FC/$file/TWCH_PR3QFY2012_10May2012.pdf?openelement [press release]
, I do take comfort that Tiong Woon's business operation continues to churn out a very decent positive FCF mainly from accounting depreciation of the high-quality crane fleet. As well, Tiong Woon's latest (as at 31Mar12) NAV/share at $0.4922 continues to provide ample asset coverage against the last done share price of $0.25.

I wonder when will the market rental rates for heavy-lift cranes and Tiong Woon's financial fortunes start to go up again?

[dydx]

This morning (27Jun12), there seems to be quite a bit of active market-making supporting many small buy/sell transactions. Is someone big trying to accumulate or unload Tiong Woon shares?

[dydx]

Bearing in mind Tiong Woon has a large fleet of quality cranes and the business has a growing regional footprint - including a recent j-v with 2 established Taiwanese players in the same trade......
http://info.sgx.com/webcoranncatth.nsf/V...5001D9E27/$file/TWCH_JVAgreement_TWTeckAikEnterprise_23May2012.pdf?openelement
- I just wonder whether the company is ripe or attractive enough as a potential acquisition target? Perhaps the grossly under-priced situation of its shares - vs. its correponding latest (as at 31Mar12) NAV/share of $0.4922 - would make Tiong Woon even more attractive to potential suitors?