Colex

[cif5000]

Clementi-Bukit Merah sector is closed and Colex is not the lowest bidder.

What will NEA think this time?

[thor666]

As any proper agency would do - follow tender process and award based on the evaluation criteria.

Your guess as good as mine who will win tender. Government procurement ethos generally is value for money principle

Sent from my ONEPLUS A5000 using Tapatalk

[pianist]

The Directors are pleased to declare a tax exempt one-tier special dividend of 10.00 Singapore cents per share. The company is declaring a special dividend as it was unsuccessful in the last two PWC tenders and is unable to invest its surplus cash during this uncertain period

seems like its a goner for this small waste player

[weijian]

The Directors are pleased to declare a tax exempt one-tier special dividend of 10.00 Singapore cents per share. The company is declaring a special dividend as it was unsuccessful in the last two PWC tenders and is unable to invest its surplus cash during this uncertain period

seems like its a goner for this small waste player

Colex has declared 10cents (or 13.2mil cash layout) - this comprises of ~50% of its total 27.8mil cash, or ~30% of its 33.4cts NAV. Before this declaration, Colex was selling at ~60% of NAV. This is what value investors will deem as "unlocking of value"!

But of course, as OPMI, we can't decide when we can unlock value. It is all dependent on its majority owner Bonvest (or Henry Ng) to decide whether it wants to transfer the value to its parent. Here probably lies another lesson on how the structure plays a part in the contribution, although it is probably not a decisive factor.

[pianist]

so may i ask theoretically on x-day, the share-price likely tanked by one-third rite based on last pre-announcement price of 21cents?
my two cents opinion indicate bonvest parent is bleeding deeply, and this event may point to eventual decapitalization of colex as it becomes a cash holding company

[weijian]

so may i ask theoretically on x-day, the share-price likely tanked by one-third rite based on last pre-announcement price of 21cents?
my two cents opinion indicate bonvest parent is bleeding deeply, and this event may point to eventual decapitalization of colex as it becomes a cash holding company

I don't really like to predict future events, but if i were to make a feeble attempt - the share price should correct by ~10cents on XD date based on the last traded price the day before. The pre announcement price did not contain this decapitalization information (at least not publicly) and probably not a good reference.

Colex is also generally thinly traded, so it may not be as efficient as we think with last traded prices.

[pianist]

sold one third of my holdings at 0.30sgd to ride on the price surge

[new-comer1]

They are not awarded the contract for Clementi-Bukit Merah sector

Expiry for the other 4 sectors -
City-Punggol - Jun 2021 (Existing operator: SembWaste; Tenders opened on 24/06/2020 according to GeBiz)
Woodlands-Yishun - Dec 2021 (Existing operator: SembWaste)
Ang Mo Kio-Toa Payoh - Dec 2021 (Existing operator: 800 Super)
Pasir Ris-Bedok - Oct 2025 (Existing operator: 800 Super)

[pianist]

sold another trunk at 0.34, above its current nav

[apenquotes]

Unexpected passive cash flow from Colex (Blog post)
Among my holdings, I was pleasantly surprised by the recent announcement of Colex to issue a Special dividend of 10 cents on 4 August 2020. This company is bucking the trend.
https://apenquotes.wordpress.com/2020/08...rom-colex/