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Full Version: Hatten Land (formerly: VGO Corporation)
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VGO has just announced the proposed sale of its entire Singapore and Malaysia based retail business - comprising mainly the well-established "World of Sports" and "World of Outdoors" chain stores retailing sports goods and outdoor gears, plus a few specialty stores; and the "Bread & Butter" and "6five barcode" boutique chains retailing luxury and lifestyle denim labels and high-end everyday wear - to listed affiliate Ossia International for an estimated total consideration of $18.66m in cash.....
http://info.sgx.com/webcoranncatth.nsf/V...penelement [VGO anouncement]
http://info.sgx.com/webcoranncatth.nsf/V...penelement [Ossia International announcement]
This deal is considered an IPT for both VGO and Ossia International by virtue of the fact that the Goh Brothers - i.e. Goh Ching Huat, Steven; Mr Goh Ching Wah, George; and Mr Goh Ching Lai, Joe - are directors and controlling shareholders of both VGO and Ossia International.

SAC Capital has been appointed as IFA for VGO to give an independent opinion on the deal to the IDs, who will have to give an advice to the minority shareholders.

Based on VGO's outstanding 92.388m issued shares, and today's (8Oct12) closing share price of $0.07, the company now has market cap. of only $6.47m.  I find this truly unbelievable!
thanks for the sharing.i read its rationale that it is going to hospitality resorts in maldives..
btw i heard maldives islands are sinking, is it true?
I think the market cap is believable for a simple reason.

The company has outstanding debts of $17.825 million and cash of $3.291 million, assuming for simplicity sake that the sale proceed are used to totally eliminate the company's debt, the company is left with around $4.126 million in cash. Cash per share works out to $0.044. The company has only leasehold property (worth around $200k) and a freehold recently purchased by its subsidiary in Malaysia. Inventory's value is only as good as how much the brave buddy here is willing to bet its worth. For me, I rather take it to be worthless to be on the safe side (after seeing how frequently World of Sports conduct their 40% and 50% sales).

At its current price of $0.08, I think there are way better options out there.
i went to the WOS's expo sale during the PC show 2013 week... yes, goods are sold at 50% off their normal price...quite unlike singapore style!
no wonder, it is transferring ownership... :O
HuhNow Maldives resorts have problem. Not pay salary to workers two month. Already strike.
The company's trading counter name on the SGX-ST has been changed to "Hatten Land" with effect from 26 January 2017.
As they said, a listing status is the closest thing to having a license to print money. Since it's RTO at the start of the year, there are already 3 attempts by Hatten Land to secure 3 different types of money to date (equity, bank loans and convertible bonds):

22nd Sept: 20mil USD of convertible bonds:
http://infopub.sgx.com/FileOpen/Hatten.L...eID=471559

18th Sept: 25mil MYR from a 200mil MTN:
http://infopub.sgx.com/FileOpen/2017.09....eID=471001

23rd Feb: Gross 26mil SGD from share placement after RTO to fulfill listing requirements:
http://infopub.sgx.com/FileOpen/Announce...eID=440573

Also equally interesting is, the CFO that started work early this year, ended his tenure on 31st Aug. Any correlation or spiders in the hidden closet, we will only find out in future....
http://infopub.sgx.com/Apps?A=COW_CorpAn...uddies.com
(23-09-2017, 11:59 AM)weijian Wrote: [ -> ]As they said, a listing status is the closest thing to having a license to print money. Since it's RTO at the start of the year, there are already 3 attempts by Hatten Land to secure 3 different types of money to date (equity, bank loans and convertible bonds):

22nd Sept: 20mil USD of convertible bonds:
http://infopub.sgx.com/FileOpen/Hatten.L...eID=471559

18th Sept: 25mil MYR from a 200mil MTN:
http://infopub.sgx.com/FileOpen/2017.09....eID=471001

23rd Feb: Gross 26mil SGD from share placement after RTO to fulfill listing requirements:
http://infopub.sgx.com/FileOpen/Announce...eID=440573

Also equally interesting is, the CFO that started work early this year, ended his tenure on 31st Aug. Any correlation or spiders in the hidden closet, we will only find out in future....
http://infopub.sgx.com/Apps?A=COW_CorpAn...uddies.com

2 more CFOs have bit the dust since the last announcement...

Leong Chain Hong: 1st Sept 2017 - 31st Dec 2017
Betty Lau: 1st Jan 2018 - 30th April 2018

http://infopub.sgx.com/Apps?A=COW_CorpAn...51e12568c2
http://infopub.sgx.com/Apps?A=COW_CorpAn...441273ffbe
You guys knows the major shareholders are sons of the 90s' Geylang Property King (the Torie Group)...

Malacca has too much land.....not raw land...reclaimed land with roads....

https://goo.gl/maps/w5wCRWhpveB2 right side of the Submarine Museum.

BTW Submarine Museum is interesting. Air-conditioned inside..hahah
SGX-Listed Hatten Land and FundPlaces to Launch Southeast Asia’s First Proptech Blockchain for Hotels and Retail Malls

Highlights :
1.. Hatten Land and FundPlaces will form an 85:15 joint venture to operate StayCay
2. StayCay is expected to go-live by December 2018
3. Through StayCay, Hatten Land will be able to issue Hotel Tokens, guests can purchase Hotel Tokens which can be exchanged for discounted hotel packages
4. A blockchain-based rewards programme will offer hotel guests and shoppers StayCay Points that can be used as rebates
5. Targets 3,400 Rooms and 5,000 Retail Outlets in Melaka
6. Melaka will be used as the springboard for regional expansion

More details in http://infopub.sgx.com/FileOpen/2018.05....eID=506773
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