HRnetGroup

[dreamybear]

The covid-19 situation seems to be in "conflict" with the focus on data protection ? I am quite worred abt sending NRIC across unsecured email, with so many online / offline scams going on in recent years.  


I think it wld be better for SGX to come out with a secured registration system maybe via the online CDP system.

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Annual Reports and related documents
https://links.sgx.com/1.0.0/corporate-an...12201d7b16

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Participate in the AGM via live webcast

1.  As  the  AGM  will  be  held  by  way  of  electronic  means,  shareholders  will  not  be  able  to  attend  the  AGM  in  person.  All  shareholders  or  their  corporate representatives (in the case of shareholders which are legal entities) will be able to participate at the AGM proceedings through a  live  webcast  via  their  mobile  phones,  tablets  or  computers,  or  listen  to  these  proceedings  through  a  live  audio  feed  via  telephone.  To  do  so,  the  shareholders  are  required  to  pre-register  their  participation  at  the  AGM  by  emailing  their  full  name  (as  it  appears  in  the  CDP  and  CPFIS  Register),  email  address  (for  receipt  of  login  credentials)  and  NRIC/Passport  Numbers  to  RSVP@boardroomlimited.com  for  verification  of  their  status  as  shareholders  (or  the  corporate  representatives  of  such  shareholders).  All  pre-registration  must  be  received  by the Company no later than 5.00 p.m. on 29 April 2020.

[weijian]

SIAS has asked some questions with regards to its investment in Staffline, government's subsidies and the flexible staffing. These are some issues that various VBs have raised previously.

RESPONSE TO SIAS’ QUESTIONS ON HRNETGROUP LIMITED’S ANNUAL REPORT

https://links.sgx.com/FileOpen/HRnetGrou...eID=609637

[karlmarx]

SIAS and SGX has been doing a good job of getting the companies to provide more information to shareholders. The release of AGM minutes and Q&A is also something I like. Hopefully, they such practices which push for greater disclosure will continue.

But the usefulness of disclosures depend on the willingness of board members to provide answers.

HRnet's response to SIAS, while lengthy, is not particularly helpful. Saying that business will be negatively affected is as good as not saying anything. What shareholders really want to know is how much/severe business has been affected.

No helpful answer was also given to explain their Staffline debacle. If you've been dumped by your ex-lover but you continue to spam him/her nonetheless, and you ex responds by telling you each time to go away, it wouldn't be wrong to tell your common friends that you guys were 'still in regular contact.'

The good thing is that this Staffline debacle exposed their capital allocation ability, without inflicting heavy damage to the company. Nevertheless, that's $50m that could have gone to shareholders instead.

[dreamybear]

With our govt taking a very proactive role in the area of jobs during this period and probably moving fwd(as a result of new political climate maybe?) and also the population stance, I wonder if it will somewhat diminish the prospects of job agencies such as HRNetGrp.

I think the FY2020 earnings of HRNetGrp will reflect how resilient its earnings are during a difficult period, notwithstanding it has overcome previous crisis, e.g. SARS, GFC.

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"....The SGUnited Jobs and Skills Centres being set up around the island provide career advice and job matching services and have helped 1,300 job seekers since the first batch of eight centres started operating on July 1, said Mr Tan at the briefing, which was held at one of the centres at Kampong Chai Chee Community Club.

Eight more centres will be ready on Saturday (Aug 1), with the remaining eight to be set up by Aug 15 so that all 24 Housing Board towns have a centre.

The agency is also holding virtual career fairs online, setting up SGUnited Jobs and Skills information kiosks in areas with high footfall - the next will be at Elias Mall in Pasir Ris on July 31 - and sending out its roving career centre truck."

https://www.straitstimes.com/singapore/m...renchments

[weijian]

After Keppel Corp and then YZJFH, we have the next company announcing a share buyback mandate.

Interesting thing is that share buyback mandate is generally always tabled as 1 of the resolutions for voting and is nothing different from regular. In actual practice, alot of companies do regular repurchases (THG, Boustead etc), without using the purchased shares as ESOP, without much publicity.

But seems like it does do wonders to make a public announcement detailing the quantum of share buyback (a "XX/XXX million program" sounds much better than "up to 10% of shares to be purchased")

Share Buyback Programme

The Board of Directors of HRnetGroup Limited (the Company and together with its subsidiaries, the Group) is pleased to announce the establishment of a S$30 million Share Buyback Programme (the Programme) pursuant to the share purchase mandate (the Mandate) granted by the Company’s shareholders (the Shareholders) at the Annual General Meeting of the Company held on 28 April 2022

https://links.sgx.com/FileOpen/HRnetGrou...eID=720538

[setan]

After Keppel Corp and then YZJFH, we have the next company announcing a share buyback mandate.

Interesting thing is that share buyback mandate is generally always tabled as 1 of the resolutions for voting and is nothing different from regular. In actual practice, alot of companies do regular repurchases (THG, Boustead etc), without using the purchased shares as ESOP, without much publicity.

But seems like it does do wonders to make a public announcement detailing the quantum of share buyback (a "XX/XXX million program" sounds much better than "up to 10% of shares to be purchased")

Share Buyback Programme

The Board of Directors of HRnetGroup Limited (the Company and together with its subsidiaries, the Group) is pleased to announce the establishment of a S$30 million Share Buyback Programme (the Programme) pursuant to the share purchase mandate (the Mandate) granted by the Company’s shareholders (the Shareholders) at the Annual General Meeting of the Company held on 28 April 2022

https://links.sgx.com/FileOpen/HRnetGrou...eID=720538

It's true as previously most of companies having buyback mandate but the buyback is very little and some do not even buyback any shares. They just table the mandate year after year in the AGM like following the herd that they have a buyback mandate just in case.

So far, Keppel & YZJ Financial is really buying. To me, it shows sincerity.

[donmihaihai]

Keppel Corp and HRnet does not need to announce anything. They are like so many other SGX listed co, obtain/renew share buyback yearly. Due to the spin off, YZJFH needs to obtain a mandate from shareholder first before buying back shares. But YZJFH chain of announcements, getting mandate and taking loan(likely) to buyback shares look like trying very hard to please investors.

The announcement from Keppel Corp & HRnet , by itself is kind of extra or just publicity like Weijian wrote. If share price shoots up because of this extra or publicity resulting company buying back less shares, then it is very stupid. If this $500M is a CAPEX, who will be cheering when Keppel is paying more and getting less. In share buyback, the more stupid it is, the louder the cheer.

Many SGX listed companies are buying back lot of shares without a single PR announcement. That include YZJSB.

Share buyback, when conducted in right way, ie buying below intrinsic value is a good way of allocating capital… trying to sound like WB

[weijian]

The announcement from Keppel Corp & HRnet , by itself is kind of extra or just publicity like Weijian wrote. If share price shoots up because of this extra or publicity resulting company buying back less shares, then it is very stupid. If this $500M is a CAPEX, who will be cheering when Keppel is paying more and getting less. In share buyback, the more stupid it is, the louder the cheer.

hi donmihaihai,

You made an excellent point here that I didn't think of. That's excellent 2nd level thinking here, while I was just poking at those Mgt's antics and OPMI's heuristics.

I traced back Keppel Corp's share price post announcement (they announced it on 27th Jan 2022) and together with HRNetGroup's share price movement today, it would be fair to say that both companies' share price increased by ~5% immediately in the first trading day after their announcements. And Keppel made its first purchase on the 1st trading day after their announcement and then almost regularly every 1-3 days since then.

While I didn't dwell much into actual trading volume vs how much Keppel Corp bought, but it would be safe to assume that Keppel Corp would probably save at least few hundred thousand by keeping quiet on the actions that they intend to take on a share buyback mandate that they obtained in 2021.

Expectation and reality are indeed different.

[Muser]

Growing rev and profits, strong mgmt/promoter, consistent high ROE, +ve free cash flows, good biz model of co-owner biz heads, diversified across geographies & brands

Even a conservative DCF value points to $1.1 or more.

What can go wrong with this biz?

[smallcaps]

very interesting appointment:

https://links.sgx.com/FileOpen/HRnetGrou...eID=722371

New Board Composition & Appointments
...

Hank is the CFO at BeNext-Yumeishin Group (BeNext-Yumeishin)
which is a recruitment company involved in the business of contract and
staffing of engineers and is listed on the mainboard of the Tokyo Stock
Exchange (TSE 2154). He led the successful merger of the 2 listed
companies BeNext and Yumeishin last year with integration of
businesses resulting in more than 100% increase in the size of the
business and market capitalization.

...