Boustead Singapore

[opmi]

^^ part estate planning.

[LionFlyer]

^^ part estate planning.

I agree. I don't think LKS woke up overnight and realized that breaking up his empire is the best way to realize the value. The flip side of this could be weaken control, but something he can overcome by setting up a network of holding companies controlling the listed entities.

Something like Haw Par/UIC.

[CityFarmer]

Mr. Li's restructuring is more welcomed by investors, comparing with the Mr. Wong's proposal

Or it is just yet to come...

(not vested, but monitoring)

Li’s Cheung Kong, Hutchison surge in Hong Kong on merger deal

Cheung Kong Holdings and Hutchison Whampoa surged the most since at least 1998 in Hong Kong trading after billionaire Li Ka-shing announced a $24 billion ($30.7 billion) restructuring of his two main companies.

Cheung Kong gained 19 percent, the most since February 1998, to HK$148.30 as of 9:31 a.m. local time.

Hutchison, which is 50 percent controlled by Cheung Kong, advanced 16 percent, the biggest gain since October 1997, to HK$101. The benchmark Hang Seng Index rose 0.8 percent.

The 86-year-old tycoon proposed late on Jan. 9 to reshuffle the assets of his companies into two new entities with specific focuses: one on property mainly in Hong Kong and China, and the other on global assets from utilities and ports to retail stores across more than 50 countries.

The streamlined structure will allow shareholders to more easily choose which businesses they want to invest in.
...
http://www.theedgemarkets.com/sg/article...erger-deal

[specuvestor]

^^ OT but does that mean one son take one? hmmm.....

[CityFarmer]

^^ OT but does that mean one son take one? hmmm.....

IIRC, the distribution was explained by Mr. Li, in a press conference. Richard Li will venture out, no share on the companies.

[opmi]

Trading Halt. Pending Annc.

[CityFarmer]

Trading Halt. Pending Annc.

May be more announcement on the spin-off proposal.

[edragon]

Drugmaker GSK setting up new global HQ for Asia in Singapore - See more at: http://www.straitstimes.com/news/busines...zNPYI.dpuf

[thor666]

Trading Halt. Pending Annc.

I believe is due to litigation outcome. Can't post link from sgx so I copied wholesale:

OUTCOME OF LITIGATION AGAINST BOUSTEAD SINGAPORE LIMITED

Singapore, 11 March 2015

The Board of Directors (the "Board") of Boustead Singapore Limited (the "Company") refers to the announcement released on 4 September 2012 relating to the proceedings in the High Court of the Republic of Singapore (the "High Court") taken by the Company against Arab Banking Corporation (B.S.C.) (the "Defendant"). The Board wishes to update that (i) the Company's Suit 730/2012/W against the Defendant for, inter alia, a declaration that the Company be discharged from all liabilities and/or obligations towards the Defendant under a facility agreement in connection with certain bank guarantees ("CG") in favour of Bank of Commerce and Development (L.J.S.C.) ("BCD") for the Al Marj project and (ii) the Defendant's Suit 784/2012/Q against the Company claiming US$18,781,481.20 and interest thereon, as well as costs on an indemnity or standard basis, based on demands made under the CG furnished under the facility agreement, have been decided by the High Court. A judgment has been issued today by the High Court dismissing the Defendant's claim against the Company for US$3,760,387.95 and US$15,021,093.25 under the facility agreement. The High Court ordered, inter alia, that the Defendant "is injuncted from receiving payment from the Company under the facility agreement Demand and is injuncted from making payment to BCD's CG Demands. This is because the facility agreement Demand was made fraudulently in the reckless sense, or alternatively, the circumstances are such that it would be unconscionable for the Defendant to receive payment of monies from the Company, which will eventually be paid to the employer of the Al Marj Project. BCD made the CG Demands fraudulently in the reckless sense, and the Defendant had knowledge of BCD's fraud at the relevant time." The Defendant has one month from the date of the judgment to file its appeal against the orders made. Further announcements will be made by the Company as and when there are any additional material developments.

By Order of the Board Alvin Kok Company Secretary

Sent from my D5503 using Tapatalk

[shn]

Boustead's price continues to fall despite of the announcement of two pieces of good news yesterday. Even the prospect of listing Boustead Projects Pte Ltd on the main board of SGX-ST does not help. Look like market expects very poor earnings for the next few quarters. It is now trading at 52 weeks low and 21% off the high of $2.028. At what price level will be good for accumulation? Hopefully $1.25.

Management guidance in 3Q15 Financial Statements:
"The Group however remains cautious on its business prospects
given the current headwinds which the Group faces in the industrial real estate solutions and global
oil & gas markets."