HupSteel

[nitro]

Main points captured during AGM @ 29 Oct 2015

1.) 2 x M.D during transition period. Lim Kim Thor will oversee Pipes/Steel segment till exit old business.
Newly appointed Deputy MD Lim Boh Chuan will drive new growth. Looking for M&A, companies that require cash.

2.) Lim Boh Chuan mentioned
a. KimChuan property getting Certificate of Statutory Completion (CSC) in next 4 weeks
b. hope to book in rental income for this FY
c. options are opened for this KimChuan property. Open to sell if the price is right.

3.) Employee share options scheme was not passed by minority shareholders which dilutes minority shareholder's holdings by ~ 10%.

[ZZF]

Options plan got shot down by minorities with 47.5 mil shares against it:



http://infopub.sgx.com/FileOpen/EGM2_Res...eID=375667

Anyone know what's the difference btw ESOS and share performance scheme?

1. Is ESOS dilutive? Issue new shares at discount. Add to existing float?
2. Share performance - company simply give employees treasury shares?

[valuebuddies]

Keen to know too, but I guess both should be the same, take from the treasury shares?

[BlueKelah]

yes sir, steel biz continues to down... hope Indonesia growth can save HS!

if really down to 10cts, think Chairman Lim will bite and delist, really CHEAP too LIAO!

remember our discussion about going back down to 10c and might get delisted? looks like 10c is not such a distant possibility now.

Indonesia companies which have loaded up on debt will be in pretty bad shape as interest rates go up.

Chairman Lim must be secretly rubbing his fingers, maybe next year cut dividend to zero then delist cheap cheap

let's see what happens next year...

[brattzz]

yes sir! let's wait and see if delisting will happen!

[brattzz]

similar to AET, HS weakness mainly attributed to slowdown in the marine industry.

Property rental biz bringing in revenue?

[BlueKelah]

3Q2016 results out,

Revenue continue decline QoQ but net loss seems to have moderated to a tiny 0.3c loss. Net cash is now 81.6% of Mcap as of today but looks like yield will only recover with earnings.

extract
[The local property market outlook has remained dim and the Group is still seeking opportunities to lease out its newly completed industrial building at 6 Kim Chuan Drive.]

no idea on how to calculate how much they could get from the industrial building, maybe some industrial REIT investing VBs can come up with a figure based on current industrial occupancy and prices at comparable properties?

[brattzz]

so, Kim Chuan is completed... start collecting rentals slowly.... turn around in 5-10 years?

[BlueKelah]

Seems like they are still looking for suitable tenants? Kim chuan was completed in oct last year i thiNk, so half year no tenants? Economy must be bad.

Sent from my MotoG3 using Tapatalk

[brattzz]

Industrial properties IS doing poorly now... so yeah, double whammy together!

short term, no upside... long term attractive...

Wait for next low, buy-buy-buy!