Sing Holdings

[Behappyalways]

Hi jacmar

Personally I would be taking out the bonus warrants sentence because I think the company should distribute cash to shareholders. No point hoarding on cash esp with receivables from The Laurels and cash proceeds when Robin is launched. Let us decide what to do with our own cash.

Hi BHA, I am disappointed that you want some people to still ask for the bonus warrants. As mentioned earlier, I will be writing in to object to this Strongly.

[Jacmar]

Hi BHA, I am disappointed that you want some people to still ask for the bonus warrants. As mentioned earlier, I will be writing in to object to this Strongly.

Good afternoon Jacmar san.

I am using the first draft without bonus warrants. Important is this Letter will *Wake Up* the Sing Holdings BD!

**Below is a draft copy of the letter. Some of you might feel that bonus warrants is not appropriate hence it is ok to take out that sentence if one is uncomfortable. You might also want to make some changes. It is ok for the main point of the letter is that we are concern with the share performance after ALL THESE YEARS and please LISTEN and DO SOMETHING ABOUT IT**

Hi kbl, I am going to do more than just take out the warrant sentence. I am going to write in strongly to be against it. In fact I am going to threaten that I will dump my shares if they go ahead with the warrant part and ,lose me as a shareholder.

[Jacmar]

for the sake of transparency, this is what I intend to send. Every shareholder can decide and do what you want for your own money. I have leave out the threatening portion but lets be clear that if a rights issue is announced I will dump my shares.

6 March 2014

Sing Holdings Limited
96 Robinson Road
#10-01 SIF Building
Singapore 068899

Dear Board of Directors and Mr Lee

We are a group of shareholders writing in to express our concern with the share performance of Sing Holdings for the past few years. We are disappointed with the Board and Management inaction towards the under performance of the share price. Shareholders' call for a share buy-back has been resisted by the Board and Management as you feel that cash could be better utilised. But after so many years, we do not feel that we had benefitted from the growth of the company as much as the management.

A share buy back mandate and when exercised would send a STRONG signal that the share price is undervalued and that the Board and Management support and share the minority shareholders' concern. With the current bearish property market sentiment, we feel that there is no better use of funds than to buy one's own undervalued shares. Therefore we strongly recommend a share buy back exercise.

With positive net current assets and receivables due from The Laurels Project, we hope you would seriously consider a sizeable dividend payout to reward shareholders' trust in the Board and Management over the past few years.

There are other shareholders who also will be asking for rights issue through a bonus warrants which I STRONGLY disagree. As mentioned above the company is not in short of cash and asking for a rights issue will send a BAD SIGNAL that the company is not in strong financial health.

We deeply appreciate your time and effort in considering the above.

Thank You.

Yours Sincerely

[kbl]

Hi Jacmar san,

I will add this before sending out the email this evening.

**There are other shareholders who also will be asking for rights issue through a bonus warrants which I STRONGLY disagree. As mentioned above the company is not in short of cash and asking for a rights issue will send a BAD SIGNAL that the company is not in strong financial health.**

[kbl]

<<Please note that Mr Lee is not in a position to advise you on the fair value of the company.>>
<<Lastly, we welcome you to attend our next AGM and we will be happy to discuss more ideas together.>>

I am going to ask Boss Lee and All BD What Is the Fair Value of the company in the AGM next month.

[opmi]

Suggest adding in the lines below.

Please contact me if there is any question or clarification.
I will follow up with you in 2 weeks time if I do not hear from you.

Need a point man to follow up to show that this is not a fire&forget letter.

[opmi]

Hi Jacmar san,

I will add this before sending out the email this evening.

**There are other shareholders who also will be asking for rights issue through a bonus warrants which I STRONGLY disagree. As mentioned above the company is not in short of cash and asking for a rights issue will send a BAD SIGNAL that the company is not in strong financial health.**

Just send 1 unified message. The details can talk later. Multiple ideas
dilutes message. Suggest only.

[newkeynesian]

I am with you on this, Jacmar. Thanks.

[wysiwyg]

I've just emailed to enquiries@singholdings.com MINUS the bonus warrant statement.

I am with Jacmar....

Thank you BHA.....

[kbl]

Me too. Decided to use the first draft. Thank you Behappyalways san.