Master Glory Group (0275.HK) (formerly: Hanny Holdings)

[opmi]

This stock has been in deep value for long time.
So is it a value trap? What are the catalysts?

[Gaudente]

http://durianinvesting.blogspot.sg/2011/...dings.html

can someone help me understand this in simpler language pls?

tks.

In april 2011 stock quoted 0.40 and the author of the article valued it 1.2 . That however did not prevent the stock to go further down to current levels.

[felixleong]

value trap...?

[opmi]

Value trap until catalysts appears. E.g. The GZ project TOP.

[Gaudente]

counter is now up to 0.295 . No news on the JKEX site.

[opmi]

been giving good dividends..

JKEX site? the site near GZ GYQ MRT station?

[Gaudente]

sorry, typo, meant HKEX website www.hkex.com.hk

[soros]

http://durianinvesting.blogspot.sg/2011/...dings.html

can someone help me understand this in simpler language pls?

tks.

Lets assume the Jan 2008 shareholder holds one board lot = 4000 shares.

At Sept 2008 , the company consolidates your shares to 1 for 50 which reduces your holding to 80 shares.

At Mar 2009, the company makes a rights issue of 0.3 shares for 1 existing at $0,35 for which you get 24 shares and pay$8.40 .

At Jan 2011, the company consolidates 1 for 10 shares and your holding of 104 shares is reduced to 10 shares. Then company offers a rights issue 0.8 shares for 1 consolidated share at $0.30 = 12 new shares and pay S3.60 .

So now at 2013 , you hold 22 shares in the company and current price is approx $0.26 ?.

So if you were a shareholder in 2008, your investment is now worth almost 97% less.

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Sorry, Correction to above post :

At Jan 2011, the company consolidates 1 for 10 shares and your holding of 104 shares is reduced to 10 shares. Then company offers a rights issue 0.8 shares for 1 consolidated share at $0.30 = 8 new shares and pay S2.40 .

So now at 2013 , you hold 18 shares in the company and current price is approx $0.26 ?.

So if you were a shareholder in 2008, your investment is now worth almost 98% less and you have been wiped out.

[opmi]

Share consolidation + rights (during bad market conditions) = death touch. Ultimate corp action to screw minorities who cannot pony up for rights.

[soros]

The company has announced suspension of trading this morning pending announcement of substantial acquisition.

The company has gained a new substantial shareholder: Ong Bee Lian

Does anyone know Mr Ong Bee Lian ?