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

It is just like gambling.

The taking off of online gambling does not reduce the number of people going down to REAL physical casinos…

It is like prostitution…

It evolves and changes but the fundamentals remain unchanged..
… Online bookings, etc – Just look at that recent LIST.. it may keep expanding..haha...
Geylang and the hot-spots are still as hot as ever...

People need to EAT, DRINK, SMOKE, etc..

Basic Human Nature…

Technically, the MONEY is already with SAH (i.e. in SAH's bank)

The full sum of sales proceed is IN!!!!!!!!

So it is only a matter of time...Finally AT LAST!!!!!!!!

Why doesnt SAH save the trouble for itself and every shareholder and pay up everything and close down and DELIST SAH??

Then at least shareholders including New Toyo can come out of this deal happier...

(12-04-2012, 09:50 AM)bluechipstamp Wrote: [ -> ]The money is in:

2012年4月9日，上海亚洲从共管账户将应支付的交易对价款71,012.75万元
（交易对价75,000万元扣除上海亚洲因本次交易产生的按照法律、法规需要由万顺
股份履行代扣代缴的税费3,987.25万元）汇至上海亚洲指定的账户，支付完成。

Source: http://disclosure.szse.cn/m/finalpage/20...817263.PDF

(20-04-2012, 12:07 PM)Underdogger Wrote: [ -> ]Technically, the MONEY is already with SAH (i.e. in SAH's bank)

The full sum of sales proceed is IN!!!!!!!!

So it is only a matter of time...Finally AT LAST!!!!!!!!

Why doesnt SAH save the trouble for itself and every shareholder and pay up everything and close down and DELIST SAH??

Then at least shareholders including New Toyo can come out of this deal happier...

(12-04-2012, 09:50 AM)bluechipstamp Wrote: [ -> ]The money is in:

2012年4月9日，上海亚洲从共管账户将应支付的交易对价款71,012.75万元
（交易对价75,000万元扣除上海亚洲因本次交易产生的按照法律、法规需要由万顺
股份履行代扣代缴的税费3,987.25万元）汇至上海亚洲指定的账户，支付完成。

Source: http://disclosure.szse.cn/m/finalpage/20...817263.PDF

clearly you are not a business owner. If you are, you would not close your own business and distribute everything. You would try to get more money and enlarge your business, be a more successful business man.

of course, most of the time, it is difficult to get more money.

Think there is a clause somewhere in SGX regulation that says that to remained listed in SGX, the company cannot be a CASH COMPANY for more than 12 mths , without any business activites..

Anyone familiar with this clause?

(20-04-2012, 12:07 PM)Underdogger Wrote: [ -> ]Technically, the MONEY is already with SAH (i.e. in SAH's bank)

The full sum of sales proceed is IN!!!!!!!!

So it is only a matter of time...Finally AT LAST!!!!!!!!

Why doesnt SAH save the trouble for itself and every shareholder and pay up everything and close down and DELIST SAH??

Then at least shareholders including New Toyo can come out of this deal happier...

[quote='bluechipstamp' pid='22487' dateline='1334195440']
The money is in:

2012年4月9日，上海亚洲从共管账户将应支付的交易对价款71,012.75万元
（交易对价75,000万元扣除上海亚洲因本次交易产生的按照法律、法规需要由万顺
股份履行代扣代缴的税费3,987.25万元）汇至上海亚洲指定的账户，支付完成。

Source: http://disclosure.szse.cn/m/finalpage/20...817263.PDF

Managed to find something related....

******

SGX’s listing rule requires that cash company holds 90% of cash in an escrow account (to safeguard shareholders).

If the cash company still does not have any intended business activities, then it will have to offer a cash exit to its shareholders, 12 months from the point that it becomes a cash company

Company can apply to extend the deadline by another 6 month only if it has already signed a definitive agreement for the acquisition of a new business, of which the acquisition must be completed in the said six‐month extension period.

*****************
Pursuant to Rule 1018(2) of the Listing Manual, the SGX‐ST will proceed to remove the Company from the Official List if it is unable to meet the requirements for a new listing within 12 months from the time it becomes a cash company.

The Company may apply to the SGX‐ST for a maximum of six months’ extension to the said 12‐month period, if it has already signed a definitive agreement for the acquisition of a new business, of which the acquisition must be completed in the said six‐month extension period.

Any such extension will be subject to the Company providing information to investors on its progress in meeting key milestones in the relevant acquisition. In the event the Company is unable to meet its milestones or complete the relevant acquisition despite the time extension granted, no further extension will be granted by the SGX‐ST, and the Company will be required to delist and a cash exit offer in accordance with Rule 1309 of the Listing Manual must be made to Shareholders within six months.

Potentially, within the next one year, Shareholders of New Toyo can look forward to:-
a. Regular dividends of 1.94 cents
b. Special diviends of 13.4 cents (full follow-thru by New Toyo)

[quote='potatolover' pid='23212' dateline='1334906488']
Managed to find something related....

******

SGX’s listing rule requires that cash company holds 90% of cash in an escrow account (to safeguard shareholders).

If the cash company still does not have any intended business activities, then it will have to offer a cash exit to its shareholders, 12 months from the point that it becomes a cash company

Company can apply to extend the deadline by another 6 month only if it has already signed a definitive agreement for the acquisition of a new business, of which the acquisition must be completed in the said six‐month extension period.

*****************

We should garner more support from vested forumers to VOTE AGAINST Mr Yen paying himself first!

If he wants to be noble, then do it more wholeheartedly, and increase shareholders' value first, rather than rewarding himself only...

(14-04-2012, 12:12 AM)ValueBeliever Wrote: [ -> ]is it so hard to ask a reasonable question. SAH is money that was invested by NT. Funds return to NT and chairman decides to pay himself a ex-gratia payment? Shouldnt shldrs be entitled to a share of the proceeds if Mr. Yen is getting 2mil plus?

He is taking the opportunity to milk for himself while shldrs have to wait until when? He should have seen in the market nowadays, you cannot increase shldrs value unless you also raise the dividend and share price follow in tendum. We should also remind directors that having the same higher dividend yield is the direct result of depressed share price. We need to raise the bar now that he has asked for 2mil to be paid - pls justify?

How long more do we have to wait if NT is worth a lot more!! How do they intent to raise shldrs value if not dividend - no point talking - must put into practice! The business is afterall link to client that sell an addictive product and most of these client has never been affected by recession - so why cant they pay out special dividend!!

It would be a BIG Disappointment if ID and SIAS cannot argue this with the Yen!!

It is clear to me the Yen are taking advantage of minority by paying themselves 1st on the 2mil and we need to press on

Did you guys received the proppectus already ?
Awaiting to check who is the major shareholders.
and who has increased his shareholdings

Don't wait here the AR 2011

1 YEN WEN HWA @ NGAN TZEE MANH 91,959,164 20.93
2 YEN & SON HOLDINGS PTE LTD 58,817,940 13.39
3 LU LE NHI 29,092,577 6.62
4 HONG LEONG FINANCE NOMINEES PTE LTD 25,712,000 5.85
5 DMG & PARTNERS SECURITIES PTE LTD 22,410,000 5.10
6 CHIA KEE KOON 18,688,000 4.25
7 WUTHELAM HOLDINGS LTD 7,000,000 1.59
8 MAYBANK KIM ENG SECURITIES PTE LTD 6,750,800 1.54
9 UOB KAY HIAN PTE LTD 5,233,604 1.19
10 OCBC SECURITIES PRIVATE LTD 4,857,800 1.11
11 CITIBANK NOMINEES SINGAPORE PTE LTD 4,340,000 0.99
12 DBS NOMINEES PTE LTD 3,653,629 0.83
13 DBS VICKERS SECURITIES (SINGAPORE) PTE LTD 3,511,280 0.80
14 UNITED OVERSEAS BANK NOMINEES PTE LTD 3,348,200 0.76
15 CHIANG KOK MENG 2,994,000 0.68
16 YEO KHEE CHYE 2,397,000 0.55
17 TAN CHONG YAN 2,387,000 0.54
18 PHILLIP SECURITIES PTE LTD 2,163,000 0.49
19 HSBC (SINGAPORE) NOMINEES PTE LTD 2,054,600 0.47
20 LEE WOON KIAT 1,995,736 0.45

http://info.sgx.com/listprosp.nsf/07aed3...f000be4ae/$FILE/New%20Toyo%20Holdings%20Ltd-AR11.pdf

If top shareholders' share of New Toyo go up from last year, think it is pretty clear that they are positioning for some developments to take place ...

(22-04-2012, 08:06 AM)ken Wrote: [ -> ]Did you guys received the proppectus already ?
Awaiting to check who is the major shareholders.
and who has increased his shareholdings