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Update on the company spin-off proposal...
(not vested)
Tat Hong gets boost from plan to spin off China tower crane business
SINGAPORE (Sept 22): Shares of Tat Hong Holdings ( Valuation: 2.00, Fundamental: 0.35) are outperforming the broader Singapore equities market, after Singapore Exchange said the crane and heavy equipment supplier's plan to spin off its China tower crane rental business complies with the exchange's listing rules.
The company says its plan to list its China arm is in the preliminary stages.
Some analysts say spinning off the business would be positive because it would give Tat Hong an additional source of funding and allow it to focus more on improving its core businesses in Australia and Asean.
http://www.theedgemarkets.com/sg/article...e-business
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
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Tat Hong on trading halt.
From SGX :
Tat Hong Holdings Ltd (the “Company”) wishes to inform shareholders that the
Company has been approached in connection with a potential transaction which may or
may not lead to an acquisition of the issued share capital of the Company. Discussions
are preliminary and there is no certainty or assurance whatsoever that these
discussions will result in any transaction. The Company has appointed Rippledot
Capital Advisers Pte. Ltd. as its financial adviser in connection with such approach.
The Company will, in compliance with the applicable rules (including the Corporate
Disclosure Policy of the Listing Manual of the Singapore Exchange Securities Trading
Limited), make further announcements as appropriate.
The Company wishes to advise its shareholders to refrain from taking any action in
respect of their shares of the Company which may be prejudicial to their interests, and
to exercise caution when dealing in the shares of the Company
Another one bites the dust?
From market darling to take over and privatization.
Disclaimer :-
I am not an investment professional.
I encourage you to do your own independent "due diligence" on any idea that I write about, because I could be and probably am wrong.
Nothing written here is an invitation to buy or sell any particular stock.
At most, I am handing out an educated guess as to what the markets may do.
The market will always find a new way to make a fool out of me (and maybe, even you!).
Even the best strategies of the past fail, sometimes spectacularly, when you least expect it.
I am not immune to that, so please understand that any past success of mine will probably be followed by failures
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An update on this,
Tat Hong Holdings Ltd (the “Company”) refers to its announcements released on 15 March
2016 (the “15 March Announcement”) and 15 April 2016.
The Company had disclosed in the 15 March Announcement that the Company had been
approached in connection with a potential transaction which may or may not lead to an
acquisition of the issued share capital of the Company. Further to the announcement released
on 15 April 2016, the Company wishes to update that the discussions are still on-going and
there is no certainty or assurance whatsoever that these discussions will result in any
transaction.
The Company will, in compliance with the applicable rules (including the Corporate Disclosure
Policy of the Listing Manual of the Singapore Exchange Securities Trading Limited), make
further announcements as appropriate.
The Company wishes to advise its shareholders to refrain from taking any action in respect of
their shares of the Company which may be prejudicial to their interests, and to exercise caution
when dealing in the shares of the Company.
Disclaimer :-
I am not an investment professional.
I encourage you to do your own independent "due diligence" on any idea that I write about, because I could be and probably am wrong.
Nothing written here is an invitation to buy or sell any particular stock.
At most, I am handing out an educated guess as to what the markets may do.
The market will always find a new way to make a fool out of me (and maybe, even you!).
Even the best strategies of the past fail, sometimes spectacularly, when you least expect it.
I am not immune to that, so please understand that any past success of mine will probably be followed by failures
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Tat Hong Equipment Service Co. Ltd. cancels its proposed listing on TWSE
82%-owned subsidiary of Tat Hong Holdings Ltd (the "Company"), Tat Hong Equipment Service Co. Ltd.("THES"), has informed the Taiwan Stock Exchange ("TWSE") that it will not proceed with the listing of its shares on TWSE.
The Company is of the opinion that the current global economic environment as well as the weak and volatile global equity markets are not conducive for the listing of THES and that any valuation of THES at this point in time would not commensurate with its intrinsic value. Hence, it would not be in the shareholders’ interest to proceed with the proposed listing of THES under current conditions. The Company may or may not seek a listing of THES on TWSE or other stock exchange in the future and will keep shareholders informed of any material developments accordingly.
Specuvestor: Asset - Business - Structure.
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A renounceable underwritten 1 for 5 right issue @ issue price of S$0.33 per rights share.
Up to 125,776,884 new ordinary shares will be issued.
The issue price represents a discount of approximately:
(i) 27.5% to the closing market price of S$0.455 for trades done on 14 November 2016 ; and
(ii) 24.0% to the theoretical ex-rights price of S$0.434 per Share (calculated based on the closing market price of S$0.455)
The intended use are for debt repayment and working capital.
http://infopub.sgx.com/FileOpen/Tat%20Ho...eID=429442
Specuvestor: Asset - Business - Structure.
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my opinion is that the rights issue is more of a "no choice" decision because its lenders could have asked for partial payment of principal prior to rolling over to a new debt
Many companies of the SGX has over leveraged themselves in the past few years. This has resulted in interest expense eating into their thinning profits or banks just not willing to rollover 100% of their principal. We have seen many companies attempting to dilute their existing shareholders to resolve their debt/cashflow problems - Yongnam, Rickmers Maritime, Noble, ASL Marine and Ezion.
It is likely the banks are starting to take away the umbrella leaving them no choice
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End of the line, rights issue will fail and bank will make call??
sent from my Galaxy Note 7
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Change the rights issue price to $0.20. So cheap that pp wont sell or feel too painful to cut loss.
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