CSE Global

[Thriftville]

Hi buddies, I've scanned through CSE's 2011 annual report, but unable to find the contribution from Astib. Could any please advice where to get the figures?

Thanks in advance!

[egghead]

Page 49 as pointed out by Freedom.

[dzwm87]

The CAPEX was for Australia mining business in the purchasing of radio communication equipment which is needed for their project. I remember he mentioned that instead of renting these equipment, CSE chose to buy. IIRC, the payback is about 3 years for these equipment.

Yeah, I remembered that as well. Did you recall why did they chose to purchase instead of renting? Didn't have the chance to ask more during the post-AGM discussion. Always got interrupted when I asked that..

[Thriftville]

Thanks egghead! but the 2011 annual report only has 39 pages?

[dzwm87]

Thanks egghead! but the 2011 annual report only has 39 pages?

There is a part 2 to the annual report

[Thriftville]

Oh i got it! thanks a lot!

[egghead]

The CAPEX was for Australia mining business in the purchasing of radio communication equipment which is needed for their project. I remember he mentioned that instead of renting these equipment, CSE chose to buy. IIRC, the payback is about 3 years for these equipment.

Yeah, I remembered that as well. Did you recall why did they chose to purchase instead of renting? Didn't have the chance to ask more during the post-AGM discussion. Always got interrupted when I asked that..

No I did not ask them why they chose to buy. Since they are going to be in this business for the long run, I'm ok for the company to invest in these equipment if the payback is 3 yrs.

[dzwm87]

Amundi Group had open market purchases - acquiring a total of 199,000 shares.

As mentioned, Amundi Group's market trades are independent of CSE's fundamentals. The last sell down triggered by their market sales proved to be an attractive buy-in opportunity.

---

Singapore (21 May, 2012) – CSE Global Ltd (CSE) has today refinanced part of its short-term borrowings with a S$120.0 million 3-year facility from DBS Bank Ltd, Oversea-Chinese Banking Corporation Limited, The Hongkong and Shanghai Banking Corporation Limited and United Overseas Bank Limited as Arrangers. Assuming that CSE utilizes the new facility as at 31 March 2012, CSE has 100% of its net borrowings of S$70.0 million (after taking account the S$52.9 million of cash, bank balances and short-term deposits) repayable after one (1) year.

The refinancing will not have any material impact on CSE’s profit for the financial year and CSE’s net gearing of 30.2% as at 31 March 2012 remains unchanged.

==
Refinancing for the huge current portion of debt, as what the management had stated, should not be a problem at all.

Perhaps, a point to take note is at what interest rate coverage

[dzwm87]

Once again, Amundi had disposed 181,000 shares on 24 May - after acquiring 199,000 shares on 17 May.

Market is no longer pricing in their eccentric behavior.

[shanrui_91]

Once again, Amundi had disposed 181,000 shares on 24 May - after acquiring 199,000 shares on 17 May.

Market is no longer pricing in their eccentric behavior.

what kind of asset management firms produce such behaviour? sounds more like they are trading