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01-11-2012, 10:44 AM
(This post was last modified: 01-11-2012, 05:28 PM by CityFarmer.)
(01-11-2012, 10:15 AM)PkNanas Wrote: If the target RTO company want the China Associate to be disposed before injecting the asset into the company, what are possible and likely method?
Distribute associates' share to all shareholder? Chew Khim Bok buy over minority's share? The China associate buy over Elite's share?
The associates are private company, so the 1st option to distribute private share to public shareholders is very unlikely
Sell the associate to other private shareholders is a more likely option. The private shareholders can be the existing controlling shareholders or the partner, Wize Asia Pte. Ltd.
IMO, RTO by the China associate is very unlikely due to their individual equity size. Even total equity of the 5 China associates are also not sufficient to keep the company listed.
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Elite KSB share price settled down @$0.60 today, after the announcement, with volume of approx 4.5m shares
Mr Market value the company share very close to its NAV after disposal.
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EliteKSB special dividend of 35.5 cents XD today, the final dividend of 1.5 cents had been XD several days ago
Total collection of dividends are 37 cents. The remaining is valued by Mr Market at 23 cents as of now, with remaining NAV of approx 25 cents
The valuation of slightly above 60 cents should be realistic.
Is the 23 cents lower than intrinsic value after margin of safety (or risk-adjsted)? Hmm...
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haha i think at this price it is very close to the intrinsic value which is why i have sold all my shares in elite, there seem to be more opportunities elsewhere with the recent decline
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(16-11-2012, 11:15 PM)money Wrote: haha i think at this price it is very close to the intrinsic value which is why i have sold all my shares in elite, there seem to be more opportunities elsewhere with the recent decline
I am not so sure the price now is close to its IV, but i do agree that opportunity cost is a real concern due to recent decline
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Received the 35.5 cents per share special dividend today
Congrats to all shareholders, including myself.
A nice way of ending a month, and good reason for a celebration this weekend.
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nice to see yr post..indeed is a nice way to end november 2012 with this early christmas present.
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(30-11-2012, 11:29 PM)pianist Wrote: nice to see yr post..indeed is a nice way to end november 2012 with this early christmas present.
I assume you are also the shareholder, and enjoying the special dividend.
Wish you a merry Christmas with the nice present from EliteKSB.
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Is it still good to enter now?
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09-12-2012, 04:14 PM
(This post was last modified: 09-12-2012, 04:18 PM by CityFarmer.)
In FY2012, the share of profit of China associate is approx S$2.9 million (S$2.4 million if ex-NCI). The historical payout ratio of dividend is about 85%, so the dividend should be around S$1.7 million (ex-NCI), i.e. approx 1.3 cent per share.
Will the company distribute the dividend? I believe the management will distribute it once received from the China associates.
Let's wait for the next monthly report from management.
(vested)
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
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