Singapore Myanmar Investco Limited (formerly: Singapore Windsor Holdings)

[phandal]

Jialat, there is a criminal complaint lodged by their JV partner regarding the disposal of SMI's shares in Myanmar Infrastructure Group (MIG) by their JVA partners Golden Infrastructure Group Limited (GIG). Apparently GIG is claiming that there is a provision for first right of refusal in their JVA and have lodged the complaint in SG courts.

http://sin-mi.listedcompany.com/newsroom...M2SG.1.pdf

Not sure how this will play out in the courts.

[phandal]

SMI converting debt to shares, back-of-envelope calc 11,885,573 / 253,437,000 = 4.7% dillution

Source: http://sin-mi.listedcompany.com/news.html/id/571748

[cyclone]

Notice of 3 Consecutive Years' Losses

Singapore Myanmar Investco gives notice that:
(i) it has recorded pre-tax losses for the three (3) most recently completed consecutive financial years (based on audited full year consolidated accounts); and
(ii) its latest 6-month average daily market capitalisation as at 27/05/2019 is S$43,630,000

More details in https://links.sgx.com/1.0.0/corporate-an...uddies.com