Just receive the reminder letter on how to accept.
I think the offer is a rip off and severely undervalue the company.
The letter only outline procedure for acceptance, without explaining what happens if you don't accept.
Yet another one of those lousy longwinded letters that does not explain what you need to know .
If acceptance reach, say, 90% will the company remain listed?
Right now that have 89% of the stock.
This is another attempt to kick out minority shareholders and raid the $1.50+ net assets held by the company.
![[Image: KaGxg4j.jpg]](https://i.imgur.com/KaGxg4j.jpg)
Is 89.2% Mr Sgbuffett....if by next week still cannot get 90% will they ask Sgx for waver and go-ahead to force buy our shares ?
This forum not many people got this share....?
2 contrasting fortunes. Chip Eng Seng and Yongnam
Privatise means buying at a low price.
(12-02-2023, 05:48 AM)ysh02 Wrote: [ -> ]Is 89.2% Mr Sgbuffett....if by next week still cannot get 90% will they ask Sgx for waver and go-ahead to force buy our shares ?
They need to hit 90% otherwise cannot delist.
I have not seen sgx give any waiver.
CES have key assets in Alexander hotel, several commercial units in the mall as well as CES office centre located at chin swee road
(12-02-2023, 08:42 AM)SgWinner Wrote: [ -> ]CES have key assets in Alexander hotel, several commercial units in the mall as well as CES office centre located at chin swee road
It is obvious the woman from Sinhaiyi is buying the whole company to strip the assets worth $1.50 to double her money.
I am quite piss at low ball offer and how sgx can allow this type of thing.
I refuse to let her have unless I am forced to.
This company said in annual report loss money no dividend ,see this news will scare people to throw shares to her next week ?
Scold OYK. His wife inside
(12-02-2023, 08:30 AM)sgbuffett Wrote: [ -> ]They need to hit 90% otherwise cannot delist.
I have not seen sgx give any waiver.
No such thing as waiver la
They already kenna queried by SGX over their independent assessment of the offer
If you have not acceptEd, let the offer lapse
If they are so desperate to privatise, they will have to revise the offer to the remaining shares at a higher price one year later
If the takeover offer does not cross the 90%, the company will stay listed and your shares can still be traded
If the takeover offer crosses the 90% mark, let them make the compulsory offer to you automatically
At the moment DO NOT DO ANYTHING
This is the third time they are extending the deadline and it’s the maximum allowed by SGX
(12-02-2023, 10:03 AM)Bluebull Wrote: [ -> ]No such thing as waiver la
They already kenna queried by SGX over their independent assessment of the offer
If you have not acceptEd, let the offer lapse
If they are so desperate to privatise, they will have to revise the offer to the remaining shares at a higher price one year later
If the takeover offer does not cross the 90%, the company will stay listed and your shares can still be traded
If the takeover offer crosses the 90% mark, let them make the compulsory offer to you automatically
At the moment DO NOT DO ANYTHING
This is the third time they are extending the deadline and it’s the maximum allowed by SGX
The thing is now they control 89%. Even if deal doesn't go thru, they literally control the company. Don't give dividend, depress the share price, see who can tahan longer. Definitely not
the SSH cos the 11% is powerless against them now.
(12-02-2023, 08:52 AM)sgbuffett Wrote: [ -> ]It is obvious the woman from Sinhaiyi is buying the whole company to strip the assets worth $1.50 to double her money.
I am quite piss at low ball offer and how sgx can allow this type of thing.
I refuse to let her have unless I am forced to.
The Singhaiyi woman and her husband are shady character in themselves. They're not even Singaporean, they just took SG citizenship so it makes it easier for them to do their shady financial shit outside of PRC.
https://theintercept.com/2016/08/03/chin...super-pac/
This is just what's publicly known about them. There's a lot more private shit regarding them, Singhaiyi and Chip Eng Seng which cannot be divulged due to commercial non-disclosure laws and regulations.
I always wondered why the original SSHs of CES didn't privatise the company for themselves or at least monetise the assets but instead let these PRC folks buy the company for cheap. If this couple is exploiting small shareholders, it was the previous CES directors that gave them the chance to do it.
(12-02-2023, 10:57 AM)ArielCasper Wrote: [ -> ]The thing is now they control 89%. Even if deal doesn't go thru, they literally control the company. Don't give dividend, depress the share price, see who can tahan longer. Definitely not
the SSH cos the 11% is powerless against them now.
The thing is not they going to control 89% and even privatise deal doesn’t go thru
They can do anything they like
The main thing is they desperately want to privatise the company and then they can really do what they like without having to report to SGX
They HAVE TO REVISE offer to the remaining shareholders one year later
If they want to privatise
REJECT for now
(12-02-2023, 11:15 AM)starbugs Wrote: [ -> ]I always wondered why the original SSHs of CES didn't privatise the company for themselves or at least monetise the assets but instead let these PRC folks buy the company for cheap. If this couple is exploiting small shareholders, it was the previous CES directors that gave them the chance to do it.
The Lims sold to the couple at $1.08 at near NAV, and when the market price was only 0.70 plus
(12-02-2023, 10:57 AM)ArielCasper Wrote: [ -> ]The thing is now they control 89%. Even if deal doesn't go thru, they literally control the company. Don't give dividend, depress the share price, see who can tahan longer. Definitely not
the SSH cos the 11% is powerless against them now.
Even if I lose money I am not letting go on the larger issue.
If they oppress small shareholders..this type issue of lack of protection of small shareholders will emerge and this can used to change the pathetic situation.
I believe this Is a long term issue and requires our govt to do something .all these highly paid useless people running our bourse downhill and never address this long standing issues for decades.
It's a long fight. If you let them win then there is no fight.
(12-02-2023, 11:22 AM)Bluebull Wrote: [ -> ]The Lims sold to the couple at $1.08 at near NAV, and when the market price was only 0.70 plus
That deal needs to be scrutinised .....
(12-02-2023, 09:51 AM)ysh02 Wrote: [ -> ]This company said in annual report loss money no dividend ,see this news will scare people to throw shares to her next week ?
CES used this tactics to frightened we all to sell to them , it should announce after closing date...
(12-02-2023, 08:30 AM)sgbuffett Wrote: [ -> ]They need to hit 90% otherwise cannot delist.
I have not seen sgx give any waiver.
Last time Aztech gp was only get 82% ,CEO Mr Mun ask Sgx waver to delist leh....
(12-02-2023, 08:52 AM)sgbuffett Wrote: [ -> ]It is obvious the woman from Sinhaiyi is buying the whole company to strip the assets worth $1.50 to double her money.
I am quite piss at low ball offer and how sgx can allow this type of thing.
I refuse to let her have unless I am forced to.
lesarn fr ck tang privatisation finally those who hold on got a higher share
but there is a loss of opportunity using thre proceeds to invest elsewhere
(12-02-2023, 01:16 PM)ysh02 Wrote: [ -> ]Last time Aztech gp was only get 82% ,CEO Mr Mun ask Sgx waver to delist leh....
So don't said never but ever existed before, Sgx sometimes very flexible to listed company to delist and maybe pay them exit fees ?
(12-02-2023, 11:23 AM)sgbuffett Wrote: [ -> ]Even if I lose money I am not letting go on the larger issue.
If they oppress small shareholders..this type issue of lack of protection of small shareholders will emerge and this can used to change the pathetic situation.
I believe this Is a long term issue and requires our govt to do something .all these highly paid useless people running our bourse downhill and never address this long standing issues for decades.
It's a long fight. If you let them win then there is no fight.
Its individual preference.. I once have the same thinking like you for another sgx stock that was in the same situation.
Looking back at the outcome back then, not worth the fight.
(12-02-2023, 11:20 AM)Bluebull Wrote: [ -> ]The thing is not they going to control 89% and even privatise deal doesn’t go thru
They can do anything they like
The main thing is they desperately want to privatise the company and then they can really do what they like without having to report to SGX
They HAVE TO REVISE offer to the remaining shareholders one year later
If they want to privatise
REJECT for now
If they raise the price now, the same offer have to be extended to all those who had sold earlier, so no way they are going to do that.
So that one year they die die have to wait before another offer to be made for remaining.
If by then price drop to 50c and they offer 51c, they will be some who will sell, and then remaining 11% are forced to accept 51c.
If u are like sgbuffet who willing to write-off the investment to try and see if get a better price later, it is individual choice. Just sharing another perspective.
ChipEngSeng EV is 1.26Billions.
0.75ct offer is just 560millions of the whole.
One legal robber management....
