EuroSports Global Limited

[GPD]

The sale of the 30 Teban Gardens Crescent $6-$8mil is enough for the stated purposes of the listing or alternatively from their cashflow statement page A-7, about $7.4mil was paid as dividend to "equity owners" (who are they?) in 2012 and 2013. Not paying out those can also serve the stated purposes.

The Gohs stand to cash in $11.2mil from the IPO and probably another $5mil from the sale of the 30 Teban Gardens Crescent since they still own 70% of the company. IPO-ing is a sure way to amass great fortune but it should also create values for new shareholders. OK I might be too critical this round but if the company can demonstrate strong growing potential, then there might be a case for me but I detected none or perhaps I have not fully understand the potential(s) it has got.

Their renumeration package for the amount of profit they generates is excessive to me (sour grape?).

[kbl]

06-08-2014 11:14:30
Singapore's supercar dealers fret as taxes, loan rules stall sales


By Caroline Ng SINGAPORE, Aug 6 (Reuters) - Supercar dealers in wealthy Singapore are fretting over their future as higher taxes, new auto loan restrictions and a shift in tastes towards less ostentatious vehicles send sales plummeting.

While the roar of high-octane engines is a familiar sound in central Singapore, home to the third-highest ratio of millionaires per capita in the world, supercar showrooms are largely silent.

Now some dealers are setting up pre-owned divisions and throwing huge launch parties for new models in a bid to get business back on track.

"If this situation continues, we believe that supercar dealers will not be able to sustain a viable operation based on the huge infrastructure put in place as well as the high cost of running the business," said Kevin John Chia, general manager of Aston Martin Singapore.

While tiny Singapore's auto market is minute in global terms, its luxury car segment was, until recently, punching above its weight.

Last year it was the third-biggest market in the world for bespoke Rolls-Royce sales while Porsche is among the top 15 selling brands of car, something unheard of in western markets.

But new taxes started in March 2013 and curbs on car loans have sent sales of some supercar brands down by as much as 90 percent, figures from the Land Transport Authority show.

Two new Aston Martins, two Lamborghinis and 14 Ferraris were sold in the first half of 2014, compared to 16, 20 and 64 respectively in the same period a year ago.

Last March a new tax regime came into effect, taxing the first S$20,000 ($15,900) of a car's open-market value at 100 percent, the next S$30,000 at 140 percent, and anything above S$50,000 at 180 percent. A new Aston Martin Vanquish now sells for S$1.088 million compared to S$880,000 previously.

"Even high-net-worth-individuals who can still afford to buy supercars will think twice about paying a substantially higher price for the same model," said Melvin Goh, chairman and chief executive of Lamborghini distributor EuroSports Global Ltd.

Dealers are hoping new models like the forthcoming Ferrari California will lure customers back and are turning to the second-hand market where the tax regime is less prohibitive.

Ferrari launched a pre-owned division in May.

Higher costs may not be the only deterrent to buyers. As supercars have became more common in Singapore, some connoisseurs are shying away from flashier brands.

"Where is the exclusivity? The days of the exotic are over," said a 42-year-old commodities trader who already owns three supercars and declined to be named.

He's now shunning the ultra high-end and paying S$600,000 for a BMW i8, a hybrid sports car, instead.

"I bought the BMW i8 because I don't want to be seen as driving another supercar that half the people I know have," the trader said.

(1 US dollar = 1.2456 Singapore dollars) (Editing by Rachel Armstrong and Matt Driskill) ((caroline.ng@thomsonreuters.com)) Keywords: SINGAPORE AUTOS/

<not vested><not a call to buy or sell>

[opmi]

To that commodities trader: drive a Kia picanto. Which your friends confirm don't have. Hahaha.

[greengiraffe]

List and bombed... that is a good example on why SGX has "failed" investors in recent times and hence why volumes has been on consistent decline...

http://www.businesstimes.com.sg/companie...3m-h1-loss

EuroSports Global posts S$3.13m H1 loss
By
Claire Huanghuangjy@sph.com.sg@ClaireHuangBT
12 Nov5:50 AM
Singapore

LUXURY lifestyle company EuroSports Global Ltd has reported a net loss of S$3.13 million for the first half of its fiscal year ended Sept 30, from a net profit of S$1.89 million a year ago.

The company, which is the only authorised dealer for Lamborghini cars in Singapore

[CityFarmer]

List and bombed... that is a good example on why SGX has "failed" investors in recent times and hence why volumes has been on consistent decline...

http://www.businesstimes.com.sg/companie...3m-h1-loss

EuroSports Global posts S$3.13m H1 loss
By
Claire Huanghuangjy@sph.com.sg@ClaireHuangBT
12 Nov5:50 AM
Singapore

LUXURY lifestyle company EuroSports Global Ltd has reported a net loss of S$3.13 million for the first half of its fiscal year ended Sept 30, from a net profit of S$1.89 million a year ago.

The company, which is the only authorised dealer for Lamborghini cars in Singapore

I am wondering which stock exchange doesn't "fail" investors, by ensuring no listed company losses money? With my limited exposure, I can't find any.

[Ben]

List and bombed... that is a good example on why SGX has "failed" investors in recent times and hence why volumes has been on consistent decline...

http://www.businesstimes.com.sg/companie...3m-h1-loss

EuroSports Global posts S$3.13m H1 loss
By
Claire Huanghuangjy@sph.com.sg@ClaireHuangBT
12 Nov5:50 AM
Singapore

LUXURY lifestyle company EuroSports Global Ltd has reported a net loss of S$3.13 million for the first half of its fiscal year ended Sept 30, from a net profit of S$1.89 million a year ago.

The company, which is the only authorised dealer for Lamborghini cars in Singapore

I am wondering which stock exchange doesn't "fail" investors, by ensuring no listed company losses money? With my limited exposure, I can't find any.

Agree with CF. SGX will ensure that companies wanting to list must fulfil a set of criteria, including a track record of profitability. However, I don’t think it is the responsibility of the exchange to ensure that the company continue to make profit post IPO. This should be the duty of individual who wants to invest in the company.

[valuebuddies]

The company make money only from the sale & leaseback of its property, then giving out fabulous dividend to attract minority investors to buy, then the minorities will foot the bill for high rental cost and declining core business.

[greengiraffe]

List and bombed... that is a good example on why SGX has "failed" investors in recent times and hence why volumes has been on consistent decline...

http://www.businesstimes.com.sg/companie...3m-h1-loss

EuroSports Global posts S$3.13m H1 loss
By
Claire Huanghuangjy@sph.com.sg@ClaireHuangBT
12 Nov5:50 AM
Singapore

LUXURY lifestyle company EuroSports Global Ltd has reported a net loss of S$3.13 million for the first half of its fiscal year ended Sept 30, from a net profit of S$1.89 million a year ago.

The company, which is the only authorised dealer for Lamborghini cars in Singapore

I am wondering which stock exchange doesn't "fail" investors, by ensuring no listed company losses money? With my limited exposure, I can't find any.

Agree with CF. SGX will ensure that companies wanting to list must fulfil a set of criteria, including a track record of profitability. However, I don’t think it is the responsibility of the exchange to ensure that the company continue to make profit post IPO. This should be the duty of individual who wants to invest in the company.

If that is suppose to be the case, then investors should have recourse such as class action against management of companies that are not truthful...

There are plenty of such experience in matured and established markets...

Can't be always, head and tails bankers/operators/vendors win...

A recent example on ASX on a darling IPO then went soured - Vocation:

Maurice Blackburn considers class action on Vocation
• THE AUSTRALIAN
• NOVEMBER 12, 2014 12:00AM

Kylar Loussikian

Journalist
Sydney
LAW firm Maurice Blackburn will today call for investors in ¬beleaguered private education provider Vocation to express an interest in a potential class action over the company’s share price collapse, after being approached by more than 30 institutional investors wanting to proceed.
Jacob Varghese, who would lead any potential class action, said it was clear there was a level of concern in the investor community about how the company had “got it so wrong” on what information should have been disclosed to shareholders about a review into the company’s Victorian operations.
The company maintained it was unaware the Department of Education and Early Childhood Development review would be material, but eventually announced it would have to restructure its business and had lost a significant amount of government funding.
“It’s now time to take it to the next level and provide an opportunity for retail investors and other institutional investors to commit to a class action,” Mr Varghese said.
“It’s clear now that Vocation was under the microscope of regulators, and your newspaper in particular has uncovered that regulators were looking at entities that went into the float, so if it’s true that information was withheld, then it’s a very serious concern for the integrity of the market and every shareholder would have the right to feel aggrieved by that.”
The Australian Securities & Investments Commission is ¬already investigating the non-disclosure of materiality.

[butcher]

should the bankers and auditors be liable and responsible?
they painted a good picture

[CityFarmer]

The company make money only from the sale & leaseback of its property, then giving out fabulous dividend to attract minority investors to buy, then the minorities will foot the bill for high rental cost and declining core business.

I reckon the company strategy is fully disclosured to its minority investors, with the detail given. Maintaining transparency is an important task of SGX