Changtian Plastic & Chemical

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Assume 1 RMB = 0.2 SGD.
Net asset value per share as at 31/3/2017 = 1,575.0 RMB cents ~ 3.15 SGD cents.

Voluntary Unconditional Cash Offer : S$1.30 in cash per share.
The Offeror does not intend to revise the Offer Price, save that the Offeror reserves the right to do so in a competitive situation.

Quote:RHT Capital Pte. Ltd. (“RHT Capital”) wishes to announce, for and on behalf of United Tech Industries Limited 聯科寶業有限公司 (“Offeror”), that the Offeror intends to make a voluntary unconditional cash offer (“Offer”) for all issued and paid-up ordinary shares of a par value of S$0.50 each (“Shares”) in the capital of Changtian Plastic & Chemical Limited (“Company”, and together with its subsidiaries, “Group”) other than those Shares already owned, controlled or agreed to be acquired, directly or indirectly, by the Offeror and the parties acting in concert with it (“Offer Shares”).

More details in
Specuvestor: Asset - Business - Structure.
A good offer, although still far below NAV. Most investors from 2012 would have made money on this if they held till today.
I am surprised by the takeover, perhaps indicating that some levels of its cash are real
This company is a joke!
SGD1.3 per share may seem a lot but it's not. Consider this:

When they IPO in Y2007, the market cap was SGD310.2 million.
Fast forward to 10 years later, the buyout offer puts the market cap at SGD85 million.

73% of the company's value destroyed in the past 10 years.
Investors who have invested since Y2007 have been screwed big time.
There are no good stocks. Stocks are only good when they go up after you bought them.

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