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Lafe Corporation
01-04-2016, 12:19 PM. (This post was last modified: 01-04-2016, 12:20 PM by TUBInvesting.)
Post: #11
RE: Lafe Corporation
Thanks for the point of views from fellow buddies.

I didn't expect so many replies. I didn't really bought without any thoughts.

I understand that the management is an issue and the receivables is in the hands of related parties. But my view of this is that the management will want the company to do well eventually. So you can say its a punt on my end that the cash that eventually goes into the company will be used on a new business.

I actually did work out the numbers and I got SGD$1.76 for all its assets after a significant discount. Thus, I felt the margin of safety was alright.

Hope this explains.

Anyway, will work on the suggestion of going to their agm in future.

Odd lots vest only.

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06-04-2016, 05:48 PM.
Post: #12
RE: Lafe Corporation
Another one will be placed on the watch-list.

Lafe Corporation Limited wishes to announce that in compliance with Listing Rule 1312 and Practice Note 13.2 it hereby gives notice that:
(i) It has recorded pre-tax losses for the three (3) most recently completed consecutive financial years (based on audited full year consolidated accounts); and
(ii) Its latest 6 month average daily capitalisation as at 5 April 2016 is S$22.52 million.

The Company wishes to draw investors' attention to Rule 1311(1) of the Listing Manual which states that the Exchange will place an issuer on a watch-list if it records pre-tax losses for the three (3) most recently completed consecutive financial years (based on audited full year consolidated accounts); and an average daily market capitalization of less than S$40 million over the last 6 months.

Investors should also note that pursuant to Practice Note 13.2 Paragraph 2.1, the Exchange conducts quarterly reviews to identify issuers to be included on the watch-list. The quarterly review will take place on the first market day of March, June, September and December of each year. The Company will make an immediate announcement should it be notified by the Exchange that it will be placed on the watch-list.
=========== Signature ===========
Specuvestor: Asset - Business - Structure.

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07-04-2016, 03:32 AM.
Post: #13
RE: Lafe Corporation
(01-04-2016, 12:19 PM)TUBInvesting Wrote: Thanks for the point of views from fellow buddies.

I didn't expect so many replies. I didn't really bought without any thoughts.

I understand that the management is an issue and the receivables is in the hands of related parties. But my view of this is that the management will want the company to do well eventually. So you can say its a punt on my end that the cash that eventually goes into the company will be used on a new business.

I actually did work out the numbers and I got SGD$1.76 for all its assets after a significant discount. Thus, I felt the margin of safety was alright.

Hope this explains.

Anyway, will work on the suggestion of going to their agm in future.

Odd lots vest only.

In such a company with related transections, hv to really understand the true motivation of the controlling shareholders. 
Why does a company get listed? To raise funds or for original shareholders to cash out?
If business is that good, why invite others to share the pie?
Once listed, is it really in the interest of controlling shareholder to see a high shareprice or low shareprice? High cant buy back to get dividends, low better to get a bigger chunk of dividends. 
Would it be more profitable to ipo high, mess up performance, price tanks, buys back?
Selling to related party means.. Value goes outside of minority interests.
Not saying its happening here but really hv to understand the motivation of controlling shareholders.
Responsible ones will be adopting corporate best practices like a meaningful dividend policy and not just keep reinvesting.

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07-04-2016, 08:56 AM.
Post: #14
RE: Lafe Corporation
(07-04-2016, 03:32 AM)Triple70 Wrote:
(01-04-2016, 12:19 PM)TUBInvesting Wrote: Thanks for the point of views from fellow buddies.

I didn't expect so many replies. I didn't really bought without any thoughts.

I understand that the management is an issue and the receivables is in the hands of related parties. But my view of this is that the management will want the company to do well eventually. So you can say its a punt on my end that the cash that eventually goes into the company will be used on a new business.

I actually did work out the numbers and I got SGD$1.76 for all its assets after a significant discount. Thus, I felt the margin of safety was alright.

Hope this explains.

Anyway, will work on the suggestion of going to their agm in future.

Odd lots vest only.

In such a company with related transections, hv to really understand the true motivation of the controlling shareholders. 
Why does a company get listed? To raise funds or for original shareholders to cash out?
If business is that good, why invite others to share the pie?
Once listed, is it really in the interest of controlling shareholder to see a high shareprice or low shareprice? High cant buy back to get dividends, low better to get a bigger chunk of dividends. 
Would it be more profitable to ipo high, mess up performance, price tanks, buys back?
Selling to related party means.. Value goes outside of minority interests.
Not saying its happening here but really hv to understand the motivation of controlling shareholders.
Responsible ones will be adopting corporate best practices like a meaningful dividend policy and not just keep reinvesting.

Thanks for the views.

I did seriously consider the negativities of Lafe when I put in a bid.

So these few shares that I am holding. Guess we shall see how it goes. Glad that at least there will be quarterly updates - at least provides me a view of what the company intend to do.

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03-06-2016, 01:17 PM.
Post: #15
RE: Lafe Corporation
3 consecutive years losses and placed on the watch-list with effect from 3 June 2016.

Hope to see improvement within next 36 months, failing which the SGX-ST would delist the Company or suspend trading of the Company’s shares with a view to delisting the Company.
=========== Signature ===========
Specuvestor: Asset - Business - Structure.

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03-06-2016, 05:42 PM.
Post: #16
RE: Lafe Corporation
(03-06-2016, 01:17 PM)cyclone Wrote: 3 consecutive years losses and placed on the watch-list with effect from 3 June 2016.

Hope to see improvement within next 36 months, failing which the SGX-ST would delist the Company or suspend trading of the Company’s shares with a view to delisting the Company.

The company seems to be trying to create a new business but listing some new subsidiaries.

Hope it will work out. Although after reading all the replies above, think there is really some issue with the management.

<Vested - 2 lots only but still $$>

https://tubinvesting.blogspot.sg

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