Singapore eDevelopment (Formerly CCM Group)

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The latest update of the company fund raising actions...

(not vested)

Singapore eDevelopment to issue perp bonds of up to $300 mil with 8% annual coupon

Singapore eDevelopment is planning to issue listed and secured perpetual bonds of up to $300 million with an 8% annual coupon and a share of annual profits of property development projects to be funded, as well as a 100-to-one consolidation of its shares, to accelerate its strategy for corporate recovery.

SeD, the construction and international property development, and Information Technology company, intends to issue the perpetual bonds in denominations of $100 each which will entitle the bond holder to receive annual distribution of 8% – payable twice a year in arrears – and be conferred the right to receive a pro-rated 30% of earnings generated from the deployment of the bonds into property development projects in US, Australia, China and Singapore.

The perpetual bonds will be secured with the property development projects funded by proceeds raised from the issuance of these bonds.

Chan Heng Fai, CEO and single largest shareholder of SeD, said: “This bond offering is a unique capital structure which will allow SeD to raise funds from a secured fixed-income instrument in which profits from property projects are shared between SeD and bond holders. At the same time, SeD will be able to raise funds without share dilution.”

On 12 September 2014, SeD completed a rights issue that raised $40.6 million in net proceeds.

Meanwhile, SeD said its second proposal for a 100-to-one share consolidation, which will reduce its issued share base from 28.5 billion to 285.3 million, will raise the profile of the company among institutional investors, reduce share price volatility, lower transaction costs, reduce the bid/ask spreads from 30% to 50% currently to 1% and enhance trading liquidity.
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
Anyone has a $2 company looking to sell Kachang Putih online to issue shares to Chan in exchange for the bonds? Big Grin
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward

Think Asset-Business-Structure (ABS)
This company and the management are insulting the intelligence of investors...
An interesting company, for educational purposes...Big Grin

Singapore eDevelopment calls off acquisition, flags 2014 loss

SINGAPORE (Feb 2): Singapore eDevelopment has called off a deal to acquire a China-based company that develops 10-inch desktop terminals used for video calls.

That company, CloudTel, is 50%-owned by Singapore eDevelopment CEO Chan Heng Fai.

With the deal, announced in August last year, called off, Singapore eDevelopment will now focus on developing its HotApp mobile application, which it expects to launch this quarter in Singapore, Malaysia, China and Australia, it said in a statement this morning.

Singapore eDevelopment also said it expects to be in the red in FY2014 due to losses and provisions for claims at its legacy construction business. Fair-value losses on some of its investments are also expected to weigh on its results, which are due in the last week of February.

Singapore eDevelopment, formerly known as CCM Group, had identified IT and property investment as new areas of focus after scaling down its loss-making construction business.

Singapore eDevelopment share fell 4.7% to 10.2 cents last Friday.
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
The company's position with the previous property venture, aren't fully closed yet.

(not vested)

Singapore eDevelopment faces $2.8 million payment demand from COFACE

SINGAPORE (June 10): Singapore eDevelopment (SeD) said it has been informed by Compagnie Française d'Assurance pour le Commerce Extérieur (COFACE) that HDB has demanded payment of roughly $2.8 million by COFACE under the Jurong West performance bond.

An insurance company, COFACE is the issuer of the $3.41 million performance bond relating to the building works at Jurong West Neighbourhood 2 Contract 19 which were undertaken by CCM Industrial, a former wholly-owned unit of SeD that was sold off last May. HDB was the owner of the project.

COFACE has demanded payment from CIPL by June 15.

HDB has reserved its right to make further claims against its remaining balance.

SeD had earlier provided corporate indemnities to issuers of various performance bonds relating to its legacy construction business under CIPL.

The Jurong West performance bond was one of the performance bonds guaranteed by SeD under the legacy corporate indemnities.

Should CIPL fail to make payment, COFACE is entitled to seek recovery from SeD.

The counter closed 0.6 cent higher at 8.9 cents.
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
Profit Warning on coming half-year result

(not vested)
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
Singapore eDevelopment expects losses for FY2015
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
Singapore eDevelopment To Place New Shares Worth S$7.0M To CEO And Largest Shareholder, Mr Chan Heng Fai

SINGAPORE, 2 February 2016.
Singapore eDevelopment Ltd. has announced that it proposes to place S$7.0 million worth of new shares to Mr Chan Heng Fai – its current CEO and single-largest shareholder – to improve its balance sheet and working capital.

SGX Catalist-listed Singapore eDevelopment intends to issue to Mr Chan’s Hengfai Business Development Pte. Ltd. 117 million new ordinary shares at S$0.06 each, at a premium of approximately 104% over the volume weighted average price traded on 29 January 2016.

About S$6.42 million of the S$7.0 million proceeds will be used to redeem all S$5.0 million worth of redeemable Exchangeable Notes including accrued interest payable and  redemption premium.
Specuvestor: Asset - Business - Structure.
Nobel prize nominee part of new Singapore eDevelopment team to research Alzheimer’s, cancer

By: Dannon Har
13/03/17, 08:54 am

SINGAPORE (March 13): Singapore eDevelopment (SeD) has named senior members of its new biomedical management division, SeD BioMedical, that includes two-time Nobel Prize nominee Daryl Thompson.

Thompson, who has been appointed director of scientific initiatives at SeD BioMedical, will spearhead advanced research to develop a broad-spectrum therapeutic platform to address emerging pandemics such as Alzheimer’s, diabetes, cancer, drug-resistant viruses and antibiotic-resistant bacteria.

He is part of a six-member management team that also includes Rajen Manicka as CEO, Scott Truesdell as research coordinator, Kent Lau Keng Yap who will specialise in R&D commercialisation, plus two other names that have yet been revealed.

More details in
Specuvestor: Asset - Business - Structure.

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