YHM Group

[mulyc]

Anybody heard of this stock?

It is controlled by the CEO of Ezion.

Any views? Surprised there is no thread on this counter since the takeover.

http://sg.finance.yahoo.com/news/yhm-soa...05301.html

[mulyc]

Counter has already begun moving up...

[mulyc]

YHM GROUP LIMITED
(Incorporated in the Republic of Singapore)
(Company Registration No. 199706776D)

YHM SECURES A CONTRACT WITH A VALUE OF UP TO APPROXIMATELY USD183
MILLION OVER A 3-YEAR PERIOD WITH ADDITIONAL 2 YEAR EXTENDABLE OPTION
TO PROVIDE A SEMI-SUBMERSIBLE RIG TO SUPPORT A SOUTHEAST ASIAN BASED
NATIONAL OIL COMPANY IN THE ANDAMAN SEA

The Board of Directors of YHM Group Limited (the “Company” or “Group”) is pleased to
announce that it has secured a contract with a value of up to approximately USD183 million
over a 3-year period with an additional 2 year extendable option to provide a semisubmersible
rig (“Semi”) to be used by a Southeast Asian based national oil company to
support its oil and gas activities in the Andaman Sea (the “Project”)
The Company is in the process of forming a joint venture company to own the Semi. The
Semi will be upgraded and refurbished and is expected to be deployed in the Andaman Sea
between end 2013 and early 2014.
Further details of the joint venture company will be announced upon the finalization of the
joint venture company.
The Project will be funded through internal resources as well as bank borrowings. The
Project may have a positive contribution to the Group’s consolidated revenue for the
financial year ending 31st December 2013.
None of the Directors or substantial shareholders of the Company has any interest, directly
or indirectly, in the above mentioned transactions, save for their shareholdings in the
Company.

By Order of the Board
Lim Ka Bee
Company Secretary
23 September 2013
This

[dydx]

After taking a close look at the latest (30Jun13) 2Q results announcement and B/S - with a smallish capital base comprising mainly a $30.0m 5% Convertible Perpetual Capital Securities (conversion price: $0.025/new share).....
http://infopub.sgx.com/FileOpen/YHM_Q2FY...eID=250962
, a relevant question surfaced in my mind : How can YHM afford to buy a 2nd-hand semisubmersible rig and pay for its upgrading and refurbishment and mobilisation to Andaman Sea within the next 6 months ?

[mulyc]

Trading halt.

[opmi]

all susp together.

I mean halted....susp = sensitive word for penny stocks...haha

[mulyc]

Hopefully super good news *fingers crossed*!