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

Full Version: Pacific Star Development (formerly: LH Group)
You're currently viewing a stripped down version of our content. View the full version with proper formatting.
Pages: 1 2 3
Create a thread for LH Group. 

LH Group Limited was listed on the Main Board of Singapore Exchange Securities Trading Limited in 1994. The Group operates under two divisions – the Aluminium Division and the Vehicle Division. 

The business and experience of the Aluminium Division includes design, fabrication and installation of building façade and interior wall such as curtain walling system, cladding system, high quality doors and windows.

The Aluminium Division’s technical expertise and track record accumulated over the years enabled the Group to register with the top grading (L6) with the Singapore Building and Construction Authority. This allows the Division to tender for projects with unlimited tender values.

The Aluminium Division has completed several Housing Development Board projects, such as The River Vista @ Kallang and The SkyTerrace @ Dawson (ongoing), as well as the Singapore Changi Airport Terminal 3, The Sail @ Marina Bay, The Capella @ Sentosa, Educational Institution Building @ Tampines – United World College South East Asia, Orchard Central, The Clift @ McCallum Street, The Tennery, Floridian and Jardin Condominium. 

The Vehicle Division, which is primarily based in South Korea, manufactures vehicle traction devices and vehicle parts.



Major Star Holdings Limited ("MSH") is an investment holding company incorporated in the British Virgin Islands and has a 50% interest in PSDH. 

PSD Holdings Pte. Ltd ("PSDH") is the sole shareholder of Pacific Star Development Pte. Ltd. ("PSD"). PSD is a property development company with a special focus to source, evaluate, invest and proactively commit to the planning, development and management of prime development projects in the Asia region. PSD is also the effective owner of two property development projects, Puteri Cove Residences in Malaysia and the Posh Twelve in Thailand.

Upon completion of the sale and transfer of PSDH's shares in PSD to LH Group Limited ("LH"), MSH shall procure PSDH to direct LH to allot and issue an aggregate of 59,151,600 ordinary shares in the capital of LH to CH Biovest Pte. Limited (a wholly owned subsidiary of Chuan Hup).

Chuan Hup will be a major shareholder of the company upon completion of the sale and transfer of PSDH's shares in PSD to LH Group Limited.
S$15,531,573 into 340 shares of MSH
S$10,033,298 into 220 shares of MSH
S$9,720,000  into 212 shares of MSH

Total S$35,284,871 into 772 shares of MSH.

772 shares of MSH to get 59,151,600 shares of LH.

Chuan Hup's cost is 59.65 cent per share.
(30-11-2016, 08:00 PM)cyclone Wrote: [ -> ]S$15,531,573 into 340 shares of MSH
S$10,033,298 into 220 shares of MSH
S$9,720,000  into 212 shares of MSH

Total S$35,284,871 into 772 shares of MSH.

772 shares of MSH to get 59,151,600 shares of LH.

Chuan Hup's cost is 59.65 cent per share.

LH group issued share only 15.7mils, is it a RTO in this case?
(30-11-2016, 08:00 PM)cyclone Wrote: [ -> ]S$15,531,573 into 340 shares of MSH
S$10,033,298 into 220 shares of MSH
S$9,720,000  into 212 shares of MSH

Total S$35,284,871 into 772 shares of MSH.

772 shares of MSH to get 59,151,600 shares of LH.

Chuan Hup's cost is 59.65 cent per share.

I assumed LH group did not include PSD asset currently right? 

<vested in Chuan Hup>
(01-12-2016, 09:41 AM)TUBInvesting Wrote: [ -> ]
(30-11-2016, 08:00 PM)cyclone Wrote: [ -> ]S$15,531,573 into 340 shares of MSH
S$10,033,298 into 220 shares of MSH
S$9,720,000  into 212 shares of MSH

Total S$35,284,871 into 772 shares of MSH.

772 shares of MSH to get 59,151,600 shares of LH.

Chuan Hup's cost is 59.65 cent per share.

I assumed LH group did not include PSD asset currently right? 

<vested in Chuan Hup>

Yes, that's why I'm a bit confused by these arrangement ....and there is no announcement from LH??
(01-12-2016, 09:54 AM)desmondxyz Wrote: [ -> ]
(01-12-2016, 09:41 AM)TUBInvesting Wrote: [ -> ]
(30-11-2016, 08:00 PM)cyclone Wrote: [ -> ]S$15,531,573 into 340 shares of MSH
S$10,033,298 into 220 shares of MSH
S$9,720,000  into 212 shares of MSH

Total S$35,284,871 into 772 shares of MSH.

772 shares of MSH to get 59,151,600 shares of LH.

Chuan Hup's cost is 59.65 cent per share.

I assumed LH group did not include PSD asset currently right? 

<vested in Chuan Hup>

Yes, that's why I'm a bit confused by these arrangement ....and there is no announcement from LH??

http://infopub.sgx.com/FileOpen/161125.A...eID=430748

LH Group Announcement.


This one must really draw out the tree chart to understand the correlations.
Simply put it seems like a debt to equity swap?

sent from my Galaxy Note 7
(01-12-2016, 08:59 AM)desmondxyz Wrote: [ -> ]
(30-11-2016, 08:00 PM)cyclone Wrote: [ -> ]S$15,531,573 into 340 shares of MSH
S$10,033,298 into 220 shares of MSH
S$9,720,000  into 212 shares of MSH

Total S$35,284,871 into 772 shares of MSH.

772 shares of MSH to get 59,151,600 shares of LH.

Chuan Hup's cost is 59.65 cent per share.

LH group issued share only 15.7mils, is it a RTO in this case?

Yes, I think this is a reverse takeover.
(01-12-2016, 09:41 AM)TUBInvesting Wrote: [ -> ]
(30-11-2016, 08:00 PM)cyclone Wrote: [ -> ]S$15,531,573 into 340 shares of MSH
S$10,033,298 into 220 shares of MSH
S$9,720,000  into 212 shares of MSH

Total S$35,284,871 into 772 shares of MSH.

772 shares of MSH to get 59,151,600 shares of LH.

Chuan Hup's cost is 59.65 cent per share.

I assumed LH group did not include PSD asset currently right? 

<vested in Chuan Hup>

Yes, LH Group currently does not include PSD asset. 
The acquisition is subject to some conditions precedent and, If I am not mistaken, none has been fulfilled yet.
Please refer to page 5 for the conditions precedent : http://infopub.sgx.com/FileOpen/160303.A...eID=392539
(01-12-2016, 10:55 AM)BlueKelah Wrote: [ -> ]Simply put it seems like a debt to equity swap?

sent from my Galaxy Note 7

Yes. For Chuan Hup, it is a debt to equity swap.

Swap for some shares of MSH.  MSH has a 50% interest in PSDH which is the sole shareholder of PSD.

PSD is the target of acqusition of LH Group. Chuan Hup gets some shares of LH Group.
Pages: 1 2 3