GS Holdings Limited
25-09-2016, 10:33 PM
Here some good videos to watch if you want to learn more about the business of GS.
NPC learning journey to IMM Facility: https://www.youtube.com/watch?v=2iFzbD3vVME Wise Business 2016: Centralized dishwashing in HK https://www.youtube.com/watch?v=djsrpgFNPWo
20-12-2016, 09:33 PM
http://infopub.sgx.com/FileOpen/GS%20Hol...eID=433286
GS signed an agreement with CAG to lease the Centralised Dishwashing Facility ("CDF") that will allow GS to provide centralised dishwashing services at Singapore Changi Airport servicing the food and beverage (F&B) outlets at the airport and Jewel Changi Airport (Jewel). 
I was never really interested in GS Holdings, mainly due to its losses and shrinking net assets, vis-a-vis its share price.
But I did a double take on its corporate announcements, and could not stop trying to make sense of the numerous changes taking place within the company, its short listing history notwithstanding. I have not put in more effort into the research of any company with a similar market cap, and which was ultimately not useful to me. But I suppose some people here can benefit from what I've done. Like a case study, perhaps. Hopefully, the effort is not wasted. It is quite a long write-up, so I've put everything in a pdf. 
1H Result as at 30 Jun 2020
Rev $6m (vs 11m) GP $2m (vs 10m) NP $1m (vs 7m) Div 1cts (vs NIL) Overall, the Group expects its business and financial performance for the 2nd half of FY2020 to continue to be affected negatively by the Covid-19 pandemic, but with lesser or much reduced impact as compared to that which the Group suffered in the first half of FY2020. https://links.sgx.com/FileOpen/1HFY2020%...eID=627981 Stay home and stay healthy, valuebuddies. 
15-08-2020, 11:52 AM
Using "1 bamboo to knock down a boat of people", I really feel that coffeeshops/food courts stocks has corp gov issues (eg IPTs and funky acquisitions).
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
15-08-2020, 03:47 PM
Since the company pivoted from dish washing to providing 'BOP services in China' about a year ago, its first RMB30m of revenue has yet to repatriate to Singapore. And then it says to have secured 'BOP' business worth RMB50m a quarter.
Who are its customers? What does GS do exactly in 'BOP?' And why are they able to charge such high fees? Thankfully, the pandemic gave them a good excuse to further delay collecting this receivable. And now it looks like the receivable will be impaired.
A lengthy QnA in response to SGX Query (note that the JV Partner is actually refers to one individual).
The JV Partner was introduced by Mr. Pang Pok by Mr Cheang Sin Kwong, being the former head of F&B division of the Group. The former head of F&B has since left his employment with the Group for personal reasons. The Company wishes to inform that certain members of the Board, namely Mr. Pang Pok, the Executive Director and Chief Executive Officer, Mr. Liu Changsheng, the Non-Executive and Non-Independent Director, have visited the JV Partner’s holdings companies’ operations and head office in China on a number of occasions, prior to the COVID-19 outbreak. Mr. Pang Pok had also taken steps to understand more about the JV Partner’s background through a mutual business associate, who was based in China for 30 years. The Board further understands from the management that information in relation to the JV Partner as set out in Paragraph 3 of the Announcement was provided and confirmed by the JV Partner. As part of its considerations in entering into the JV agreement, the Board took into account the rationale and benefits for entry into the Joint Venture as set out in the Announcement and further noted the relatively low risk exposure for the Company in entering into the Joint Venture, with such risk exposure being the HKW Loans which, in any event, was to be extended at such juncture and tranches to be determined in HKW’s sole discretion. https://links.sgx.com/FileOpen/Ann%20-%2...eID=634961 Stay home and stay safe, everyone. 
GS Holdings@44
The Company wishes to update shareholders that there has been a delay in the registration of the New Third Party Mortgage as the relevant governmental authorities in the PRC have requested for more documents to be provided. The Company understands that the Third Party and Kaifeng Jufeel have provided the requested documentations to the government authorities in PRC, and are pending the government authorities’ approval for the registration of the New Third Party Mortgage, following only will the Relevant Encumbrance be removed. As a result, the Company does not expect that the Relevant Encumbrance will be removed by 30 June 2021 as earlier envisioned. The Company is working towards having the removal of the Relevant Encumbrance completed prior to the finalisation of the audit for FY2020, which is expected on or before 14 July 2021. https://links.sgx.com/FileOpen/GS%20-%20...eID=673274 Stay home and stay safe, everyone.
GS holdings@32
halt https://links.sgx.com/1.0.0/corporate-an...7bcce12e2f Stay home and stay safe, everyone.
28-07-2021, 08:00 PM
There were a lot of red flag when I looked at this two years ago. I would have lost a lot of money if I had shorted because the stock just took off right after. Thankfully, I never had a desire to short stocks. Not even when I am confident of my short opinions.
I have not been following closely. But two years later, it seems the situation still looks as 'muddy' as ever. You keep getting new reasons why the receivables have to be written down, cannot be collected, etc. And if most of the receivables are to be written off, there won't be much equity left. Also, still no straight answer on who the BOP customers are. I wonder what/who is still keeping the share price at this level. |
|
« Next Oldest | Next Newest »
|
Homepage
PR Newswire
