^^ yes as per noted in the bottom NB section of my post after I read the financial statements
Unlike the extension of the 2 CBs previously, this time round there is not even a maturity date and it has to be assumed. The time value of the option, which is a statistical estimate, will decline every quarter impacting the PnL based on an estimated terminal date. IMHO it's just an accounting number with little relevance anymore.
The status of the CB is important because in a credit event it defines the rights of the bond holder and debtor, from CDS calculation to Argentina sovereign bond. Legally it's in no man's land now 7-8 months post restructured maturity.
(26-02-2016, 10:17 PM)Boon Wrote: [ -> ]http://infopub.sgx.com/FileOpen/SGFIG%20...eID=391351
Page 5 of FY2015 results:
Deposit for non-current asset = RMB 570.777 million in 4Q2015
WOW !
Welcome back Specuvestor !
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[Image: b4yrzs.jpg]
Deposit for non-current asset = RMB 570.777 million in 4Q2015
Is the deposit represents
1) a 10% prepayment of a 5,707 m purchase ? ; or
2) a 20% prepayment of a 2,853 m purchase ? ; or
3) a 25% prepayment of a 2,283 m purchase ? ; or
4) a 50% prepayment of a 1,141 m purchase ? ; or
5) a 75% prepayment of a 761 m purchase ? ; or
6) a 100% prepayment of a 570 m purchase ?; or
7) others ?.
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If it is 6), the payment terms look very generous.
If it is 6), the 570 m deposit represents 56% of total investment in PPE over the last 7 years amounting to 1,020 m => High ?
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Eyesonme, investor relations of sfig replied so fast? Results were out on Friday night right?
(28-02-2016, 06:20 PM)CY09 Wrote: [ -> ]Eyesonme, investor relations of sfig replied so fast? Results were out on Friday night right?
CY09, yes results were out on Friday night. Emailed on Sat morning and got a response from Stephen on the same day evening.
Based on the result briefing on Friday, we would be having update from Sino Grandness on their convertible bond issue soon.
(16-02-2016, 01:43 PM)Boon Wrote: [ -> ] (16-02-2016, 11:17 AM)Young Investor Wrote: [ -> ] (16-02-2016, 10:26 AM)Boon Wrote: [ -> ] (15-02-2016, 10:24 PM)crubs Wrote: [ -> ]Hi CY09 and Boon,
Okay, page 9 of the 3Q results announcement says "Non-cash interest costs relating to convertible bonds decreased from RMB67.4m in 9M2014 to and assumed an income position of RMB24.8m in 9M2015"
Wah how does non-interest cost assume an income position ? That means Garden Fresh borrow money still can earn money on interest ?
So according to your method, this is part of their on-going operation la, making money out of borrowing money.
Since you say your method is right, can your method of calculation explain this phenomenon ? and what is the logic behind it ?
Hi crubs,
Please refer to page 118 and 119 of AR2014
Can you explain why there was a need for an adjustment in FY2013.
Interest expense was adjusted from 19.102 m to 88.818m.
Changes in fair value of option derivatives in relation to convertible bonds had been adjusted from zero to 43.638 m.
This is relevant to your question, I believe.
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Hi Mr Boon
Please do not ask unnecessary questions. The note in pg 118 already explains why adjustment was made.
The question now is why there was a 'positive' interest income of RMB 187m in 3Q 15.
You have not answered Crubs question on making money out of borrowing money.
Ha-ha!
If SG has the so called skill in "making money out of borrowing money", why don't they apply it in FY2013 ? Do you know what difference would it make?
Wondering why this skill emerged only after the expiry of both CB1 and CB2.
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(28-02-2016, 08:03 PM)Lich Wrote: [ -> ]Based on the result briefing on Friday, we would be having update from Sino Grandness on their convertible bond issue soon.
Hi Lich
I dont know why the concern on convertible bond redemption. Worst comes to worst, Cb takes maximum stake of 23.4%.
cheers
Oldman9