ValueBuddies.com : Value Investing Forum - Singapore, Hong Kong, U.S.

The holding company which holds 74.29%(349,578,726 shares) of the listed entity, just transferred 175m shares to Citibank nominees account and 50m to BNP nominees account.

Can anyone share what are the possible reasons for such a move?

https://links.sgx.com/FileOpen/_Form%203...eID=524375

(07-09-2018, 08:29 AM)vbReader Wrote: [ -> ]The holding company which holds 74.29%(349,578,726 shares) of the listed entity, just transferred 175m shares to Citibank nominees account and 50m to BNP nominees account.

Can anyone share what are the possible reasons for such a move?

https://links.sgx.com/FileOpen/_Form%203...eID=524375

Most likely is because of financing , they have to pledge the shares to the banks. Hope I got it right

https://repository-vl18.shareinvestor.co...filename/1

Hiap Hoe Limited would like to issue a profit guidance that the Group expects to report a loss for 4Q2018 which is primarily due to the fair value changes in financial instruments.