Triyards Holdings

[Nick]

TRIYARDS offers a broad spectrum of engineering and fabrication services that are marketed under the “TRIYARDS” brand. The Company currently owns and operates two fabrication yards in Vietnam’s Ho Chi Minh City (TRIYARDS SSY) and Vung Tau (TRIYARDS SOFEL), as well as another in Houston, USA (TRIYARDS Houston).

TRIYARDS SOFEL and TRIYARDS SSY are each equipped with heavy-lift gantry cranes and deepwater berths, and both yards have the capability to undertake large-scale projects to fabricate different components of fi xed platforms, as well as vessel conversion and construction. TRIYARDS Houston produces equipment such as cranes, A-frames and winches, which can be installed on the self-elevating units and offshore support and construction vessels fabricated in Vietnam.

http://info.sgx.com/webcoranncatth.nsf/V...B005B10E4/$file/IntrodocTriyards.pdf?openelement [Introductory Document]

Ezra Holdings intends to distribute 33 per cent of Triyards shares by way of dividend in specie to its shareholders. Each shareholder will get one Triyards share for every 10 Ezra share. Ezra will retain the remaining 67% stake.

[Louhan]

What's the likely price of Triyards when it starts trading next week?

TRIYARDS offers a broad spectrum of engineering and fabrication services that are marketed under the “TRIYARDS” brand. The Company currently owns and operates two fabrication yards in Vietnam’s Ho Chi Minh City (TRIYARDS SSY) and Vung Tau (TRIYARDS SOFEL), as well as another in Houston, USA (TRIYARDS Houston).

TRIYARDS SOFEL and TRIYARDS SSY are each equipped with heavy-lift gantry cranes and deepwater berths, and both yards have the capability to undertake large-scale projects to fabricate different components of fi xed platforms, as well as vessel conversion and construction. TRIYARDS Houston produces equipment such as cranes, A-frames and winches, which can be installed on the self-elevating units and offshore support and construction vessels fabricated in Vietnam.

http://info.sgx.com/webcoranncatth.nsf/V...B005B10E4/$file/IntrodocTriyards.pdf?openelement [Introductory Document]

Ezra Holdings intends to distribute 33 per cent of Triyards shares by way of dividend in specie to its shareholders. Each shareholder will get one Triyards share for every 10 Ezra share. Ezra will retain the remaining 67% stake.

[BeDisciplined]

When is Triyards going to IPO?

[Some-one]

There's no IPO for Triyard as the shares are given to those who hold Ezra's shares. It would start trading on 18 Oct 2012.

[solaris]

Hi,

Just to share with anyone using / planning to use the SCB trading platform....

I had received the Triyards shares from my Ezra holdings, but experienced the following problems specific to the SCB trading platform.

1. The Triyards shares were only credited into the portfolio on 19 Oct, 1 day after commencement of trading.

2. As I had received odd lots, I asked the SCB trading support team if the SCB platform would allow me to purchase the remaining shares from the Triyards 100 counter and amalgamate into Triyards counter. The answer is NO, and as Triyards 100 is a temporary counter, the shares will be LOST once the counter is removed from SGX. The alternative would be to use their RM to sell off the odd lot but that would cost $100 / trade, no waiver despite the SCB platform limitations.

I then asked about transferring the shares to CDP, and the charges are $10 / 1000 shares + GST..... think that would be the more sensible approach...

[CityFarmer]

Hi,

Just to share with anyone using / planning to use the SCB trading platform....

I had received the Triyards shares from my Ezra holdings, but experienced the following problems specific to the SCB trading platform.

1. The Triyards shares were only credited into the portfolio on 19 Oct, 1 day after commencement of trading.

2. As I had received odd lots, I asked the SCB trading support team if the SCB platform would allow me to purchase the remaining shares from the Triyards 100 counter and amalgamate into Triyards counter. The answer is NO, and as Triyards 100 is a temporary counter, the shares will be LOST once the counter is removed from SGX. The alternative would be to use their RM to sell off the odd lot but that would cost $100 / trade, no waiver despite the SCB platform limitations.

I then asked about transferring the shares to CDP, and the charges are $10 / 1000 shares + GST..... think that would be the more sensible approach...

I am using Phillips Securities' POEMS platform, i was allowed to trade odd lots via POEMS, instead of via RM. The commission is similar as other tradings.

SCB limitation seems un-acceptable, but it may be a trade-off from other privileges.

[solaris]

Hi,

Just to share with anyone using / planning to use the SCB trading platform....

I had received the Triyards shares from my Ezra holdings, but experienced the following problems specific to the SCB trading platform.

1. The Triyards shares were only credited into the portfolio on 19 Oct, 1 day after commencement of trading.

2. As I had received odd lots, I asked the SCB trading support team if the SCB platform would allow me to purchase the remaining shares from the Triyards 100 counter and amalgamate into Triyards counter. The answer is NO, and as Triyards 100 is a temporary counter, the shares will be LOST once the counter is removed from SGX. The alternative would be to use their RM to sell off the odd lot but that would cost $100 / trade, no waiver despite the SCB platform limitations.

I then asked about transferring the shares to CDP, and the charges are $10 / 1000 shares + GST..... think that would be the more sensible approach...

I am using Phillips Securities' POEMS platform, i was allowed to trade odd lots via POEMS, instead of via RM. The commission is similar as other tradings.

SCB limitation seems un-acceptable, but it may be a trade-off from other privileges.

The SCB platform has lower commissions for small transaction size... which is their only benefit. The trading support service admitted that this is a systems limitation as unlike POEMS, the shares are held within SCB instead of CDP.....

[dzwm87]

IMO, the only good benefit for SCB trading platform is the "no minimum commission". It saves on commission charges for small trading bids - few thousand dollars kind. The benefits wear off the moment the nominal bid sum gets larger and larger.

The downside of the platform is that it is restricted under SCB custodian. So you can't sell those shares using other platform/CDP. The worse case scenario comes during a crazy sell-off (market crash) and imagine the loss when the SCB website get flooded with heavy traffic. You also get other issues which solaris had just encountered. Convenience is also no on your bargaining side as you have to write to SCB to proxy you for any AGM if you wish to attend.

Now, the question is weighing the benefits against the losses. IMO, as an investor (and not trader), our market purchasing frequency is not very frequent. With a low capital base, it is even lesser. Hence, the no minimum comm charge may not be as enticing as it may seem to be.

My take is this platform will only be good for those who wish to trade and has very little capital base. That said, with a small capital base, one shouldn't even be trading at all.

[yeokiwi]

2. As I had received odd lots, I asked the SCB trading support team if the SCB platform would allow me to purchase the remaining shares from the Triyards 100 counter and amalgamate into Triyards counter. The answer is NO, and as Triyards 100 is a temporary counter, the shares will be LOST once the counter is removed from SGX. The alternative would be to use their RM to sell off the odd lot but that would cost $100 / trade, no waiver despite the SCB platform limitations.

Can you elaborate this part? How can the shares be lost? It simply becomes Triyard rather than Triyard 100 after the odd lot counter period is over.

[solaris]

2. As I had received odd lots, I asked the SCB trading support team if the SCB platform would allow me to purchase the remaining shares from the Triyards 100 counter and amalgamate into Triyards counter. The answer is NO, and as Triyards 100 is a temporary counter, the shares will be LOST once the counter is removed from SGX. The alternative would be to use their RM to sell off the odd lot but that would cost $100 / trade, no waiver despite the SCB platform limitations.

Can you elaborate this part? How can the shares be lost? It simply becomes Triyard rather than Triyard 100 after the odd lot counter period is over.

If you are using CDP as custodian, then yes, it will become Triyard post the odd lot counter period.... however, if you were to use SCB online trading platform, they treat Triyards and Triyards 100 as 2 distinct counters, and since Triyards 100 is temporary.... post the odd lot period, the counter will no longer exist and wrt SCB platform, those shares has no value. In short, the platform limitation is such that they cannot change the counter (RF0 to RC5).