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Continuing its remarkable run-up from yesterday, GK Goh traded as high as 88 cents today, another whopping 15% up from yesterday's closing.
In June 2005, G. K. Goh Holdings completed the sale of its stockbroking businesses to Malaysia 's leading investment bank, CIMB Bhd, raising cash proceeds of S$239 million.
Following the sale, the key businesses retained in G. K. Goh Holdings are:
- G. K. Goh Financial Services (S) Pte Ltd (100%), a futures and foreign exchange brokerage in Singapore;
- G. K. Goh Strategic Holdings Pte Ltd (100%), which invests in funds, stocks and financial instruments;
- Boardroom Ltd (29.7%), an SGX-listed company providing business outsourcing services in Singapore, China, Hong Kong and Malaysia;
- Platinum Holdings Ltd (21.9%), a Hong Kong based boutique investment bank;
- Value Managers Ltd (50%);
- Kanetsu-GK Goh Co. Ltd (50%).
why it run up so much..it is not the same business as kim eng?
You should look at the futures and FX brokerage business...
Suspended pending announcement...
Hope it is not delisting...
Such a good company
Business Times - 29 Aug 2011
GK Goh sells E&O stake for RM243.8m
Deal is at a 58.6% premium to last traded price
By UMA SHANKARI
INVESTMENT holding and broking firm GK Goh Holdings will sell part of its stake in property group Eastern & Oriental Berhad (E&O) to Sime Darby Berhad for RM243.8 million (about $99.1 million).
GK Goh will sell 9.6 per cent of Malaysia-listed E&O's fully diluted issued share capital, comprising 84 million stock units as well as 22 million convertible secured loan stocks.
Following the sale, GK Goh will hold a residual interest of around 3.5 per cent of E&O's fully diluted issued share capital. GK Goh expects to recognise a gain of $51.2 million from the deal.
Sime Darby, a Malaysia-listed conglomerate, will pay RM2.30 for each stock unit and loan stock. The price represents a premium of about 58.6 per cent over E&O's last transacted price of RM1.45 on Aug 25, and a premium of 107.2 per cent over E&O's fully diluted net asset value per stock of RM1.11 as at June 30, 2011.
GK Goh said that it was within the ordinary course of its business to invest in businesses, and then realise its investments at the appropriate time.
The group made the bulk of its investments in E&O in 2006, and then increased its stake through market purchases and by subscribing to its share of convertible loan stocks.
'The transaction represents an opportunity for the company to realise the value of its investment in E&O, and to reduce its risk exposure at a time of considerable financial and economic uncertainty,' said GK Goh.
E&O's principal activities consist of property development and investment, hospitality and lifestyle businesses.
The proceeds from the sale will result in a substantial increase in the company's cash position and net tangible assets. It will also provide the group with additional liquidity to make acquisitions during periods of distress, GK Goh added.
'The group will continue to evaluate opportunities for investing its liquid assets, including the proceeds from the transaction.'
In the stock market, GK Goh shares gained 1.5 cents to close at 57 cents on Aug 25, the last day that the counter was traded.
It opened the highest in the morning and got shot down all the day to 60 cents.
pity for those who got in the early morning...
did a quick check on G K Goh.
its investment in equity is quite lousy imo. during 2008/2009, the group lost around 100 million. since then, it has never recovered much. It gotta show their investment must be quite lousy.
a further look on its long term investment, which I believe is EUNetworks, a company listed in SGX with more than 17 billion shares outstanding and substantial convertible loan, last traded at 0.015
really wonder what G K Goh sees in Eunetworks(former Global Voice).
imo, this gotta be the worst long term investment I have ever seen.
This one is a no brainer. Unless the sale of E & O falls through- which is highly unlikely since Sime Darby is the one buying (biggest conglomerate in M'sia), GKG will be sitting on a cash pile that works out to around 90 cents/share or thereabouts (not sure if my maths is correct- too good to be true). Imagine turning 65 cents into 90 cents! And we're talking only about the cash component. No wonder they had to call a trading halt. Of course, they could still screw up and squander all the cash away- hopefully not.
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