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PR Newswire
31-05-2015, 11:58 AM
http://infopub.sgx.com/FileOpen/HFC%20An...eID=354137
Discussions are ongoing with regards to the proposed transactions of the shares of Winfoong International by a possible purchaser, which Hong Fok have a 49% shareholding.No definitive agreement have been entered into as of this stage.
Share price of Winfoong have been rallying from HK 0.30 to current price of HK0.92 (more than three fold).
Possibility of further strengthening of balance sheet should the disposal be successful.
This one of the stock in SGX with steep discount to NAV but with a stingy management.
Recently independent non-executive director, Mr Tan Tock Han, the brother-in-law of Mr Cheong Pin Chuan and Mr Cheong Sim Eng,has stepped down. There have also been some changes to the board committees, hope that the interests of the minority shareholders are better represented in the future.
Discussions are ongoing with regards to the proposed transactions of the shares of Winfoong International by a possible purchaser, which Hong Fok have a 49% shareholding.No definitive agreement have been entered into as of this stage.
Share price of Winfoong have been rallying from HK 0.30 to current price of HK0.92 (more than three fold).
Possibility of further strengthening of balance sheet should the disposal be successful.
This one of the stock in SGX with steep discount to NAV but with a stingy management.
Recently independent non-executive director, Mr Tan Tock Han, the brother-in-law of Mr Cheong Pin Chuan and Mr Cheong Sim Eng,has stepped down. There have also been some changes to the board committees, hope that the interests of the minority shareholders are better represented in the future.