Pacific Andes

[specuvestor]

I would suggest the long suffering shareholder to let go..
4 rights issue in 8 years. 07, 09, 12 and now..
Find me another company in the WHOLE of sgx that does this.
If this is not a red flag, I don't know what is.
Even if it's deem too big a company to do any hanky panky business, would you like to follow such management that always take $ from shareholders? Take 20cent pay back 1cent as dividend. Still have the cheek to say enhance shareholder value.
These are just my own personal opinion/suggestions, I have no interest at all in this company(long or short).
Mod, pls take away my post if deem inappropriate.

REITs ...hahaha...

for non-REITs, Federal International - more than 5 capital issues if you count warrants issue...

Lol, yup. But federal was losing $. P.andes have been making profits every year.
Even for reits not much can claim the "honours" of 4r in 8y. -_-"

Off the top of my head I would think Ezra and Ezion

Pac Andes just released its FY result few days ago. Profit increased but no div payout was announced already disappointing to its shareholders.. to worsen things, they are issuing rights (a lot more shares). Raising funds to repay borrowings is really disappointing.... in my opinion.

Does the company PARD - for the matter, the entire group including CFGL and PAIH - have a choice from its bankers?

Another relevant question: Why would a responsible management - the CEO, CFO, and BOD - want to load the entire group of companies with so much debts?

When you owe the bank $10k, you scared of the bank. When you owe the bank $10m, the bank scared of you

This group of company has been a perpetual value trap as long as I can remember for those who looks at ratios and not cashflows

[lkw175]

I think PARD prefer to raise funds from the public then from the bank (with the debts that they had and probably a possible rise in interest rate in near future at the back of their mind?).

The total share base will increase soon and very likely we will see a share consolidation when the new SGX rule kick in next year.

Market don't seem to like this move and reacted.

[Jack31]

So we just discover Another sure win formula.
1) rights
2) rights
3) rights
4) rights
5) share conso
6) repeat step 1 to 5.

[opmi]

I modify your winning formula a bit. Hahaha

So we just discover Another sure win formula.
1) rights
2) rights
3) rights
4) rights
5) share conso
6) IF Mkt Price < 50% Valuation THEN Privatize Company ELSE repeat step 1 to 5.

[Jack31]

I modify your winning formula a bit. Hahaha

So we just discover Another sure win formula.
1) rights
2) rights
3) rights
4) rights
5) share conso
6) IF Mkt Price < 50% Valuation THEN Privatize Company ELSE repeat step 1 to 5.

LOL!!! U make a good business man! Sometimes I wonder why such big and reputable company can bring themselves to "screw" up minority sh. Reputation seem not important to them at all..

[value:search]

For sure this company is sinking with incompetent management. It has been very rewarding shorting the shares all the way down since the rights announcement. I doubt any wise shareholders will subscribe to the rights - everyone will try to sell it before XR. The only way for the share price to rise is for the company to start shedding assets to generate cash! It will definitely get harder for the company to raise cash either through the loans/bonds/right issue going forward.

[specuvestor]

LOL!!! U make a good business man! Sometimes I wonder why such big and reputable company can bring themselves to "screw" up minority sh. Reputation seem not important to them at all..

As posted in the Noble thread... there are actually a few of these companies around:

If there are no laws or enlightened self-interest in appreciating share price, the incentive would simply for listed companies that doesn't need capital to make management/ directors' expense equals EBITDA

http://www.valuebuddies.com/thread-457-p...#pid101303

[pianist]

i suggest sgx should implement "TDSR" on listed companies...to protect vulnerable investors

[sykn]

My confidence in PARD and CFGL has been badly eroded because notwithstanding its size, the financial risks associated with the debt it's carrying appear to be very high, with easing-off nowhere in sight. Very sad, because I really thought Copeinca was a good deal, albeit risky. (No longer vested in either)

[Big Toe]

There is a list of reasons why a company decides to go public.
Rewarding new shareholders is not high in the list.
(Some would argue that is not even found on the list)

Investors who think otherwise should have a reality check
or stay out of the market totally. Good public listed companies are few and far in between.