Giken Sakata

[CityFarmer]

I started a new thread on this company, not due to its business performance, but a recent disposal of its SSH.

The company SSH, Miyoshi Precision, disposed its entire 26.58% stake at one go, when the share price increased by more than 50% this week.

SGX raises a red flag on the company

http://infopub.sgx.com/Apps?A=COW_Corpor...yAd7_lYKYI

(not vested)

[BlueKelah]

From my reading actually miyoshi precision might be a value buy after this sale.

Giken was a substantial source of revenue and profit for miyoshi in the past but now seems like revenue decreased and it is loss making, so Miyoshi is doing some restructuring as well and sort of selling off all the bad bits

Maybe we can start a thread on Miyoshi Precision? Now only 5 cents, NAV is 11 cents+ value buy if they can turn their business around. Net cash after this sale IIRC.

[mulyc]

Can anyone then explain the large price rise since then? They're only gotten into some 51% agreement for some Indonesian oilwells in April that's all. Sounds like something speculative coming.

[Damien]

Hi Buddies,

Is there anyone who can enlighten me about the below link please.
I can't interpret anything from it.

http://infopub.sgx.com/FileOpen/SGX-Sanc...eID=332284

[CityFarmer]

Hi Buddies,

Is there anyone who can enlighten me about the below link please.
I can't interpret anything from it.

http://infopub.sgx.com/FileOpen/SGX-Sanc...eID=332284

In a nutshell, there was a restructuring in the company, announced around end of 2014, by a procedure called Scheme Of Arrangement (SOA). You may refer to the previous company announcement for the restructuring detail.

The latest announcement, is to announce the fulfillment of last procedure requirement of the SOA, and detailed the final timeline of completion.

Hope it helps.

(not vested)

[Damien]

Hi Buddies,

Is there anyone who can enlighten me about the below link please.
I can't interpret anything from it.

http://infopub.sgx.com/FileOpen/SGX-Sanc...eID=332284

In a nutshell, there was a restructuring in the company, announced around end of 2014, by a procedure called Scheme Of Arrangement (SOA). You may refer to the previous company announcement for the restructuring detail.

The latest announcement, is to announce the fulfillment of last procedure requirement of the SOA, and detailed the final timeline of completion.

Hope it helps.

(not vested)

Thanks for your reply!

Think its some internal restructuring and they will no longer be traded under the name of Giken to GSSEL.