Viz Branz

[yeokiwi]

I suppose if senior Chng wants to get some cash, he could inform junior Chng that he wanted to offload shares to him.
Since they are father and son, they can just do a married deal or go to CDP to pay a transfer fee to transfer the shares from father to son.

Funny isn't it?

Does it mean that the father-son relationship is not cordial?

Scenario 1:
Senior Chng wanted to sell away the company. Junior Chng refused and to stop the sale, he actively scooped up all the shares in the market.

Scenario 2:
Junior Chng wanted to sell away the company but Senior Chng refused. So Junior Chng is actively scooping the shares to improve the chance of a successful delisting. Senior CHng is in need of money and he do not wish to sell his shares to Junior Chng.

Scenario 3:
??

[dydx]

There is little point trying so hard to speculate on senior Chng's intention(s). We should just bear in mind that after his recent sale of 420 lots@$0.305 (total proceeds: $128k), senior Chng still holds 81.66m Viz Branz shares (or a 23.088% stake) under his personal name.....
http://info.sgx.com/webcorannc.nsf/Annou...endocument

$128k is enough to buy a nice new car for his loved one!

[julianbream]

Senior Chng sold again. But this time only enough to buy a mid-sized Japanese car. If he keeps this up, it'll really be a good question as to why he's doing it.

http://www.sgx.com/wps/portal/marketplac...TG1UPE1O30

[Herodot]

Maybe it is just a tricky way of transferring stock from senior to son? First son buys, then father sells same amount (at higher price then).
Of course they could also do an OTC deal or something, but maybe that is not so efficent because of regulation/taxes?

[pianist]

The Company would like to announce that Mr Chng Khoon Peng and Mr Tan Kok Hiang would relinquish their executive duties and step down as the Executive Chairman and Executive Director of the Company respectively. With effect from 1 November 2010, they will be designated as non-independent/non-executive directors.

[julianbream]

Does anyone in the forum know if this is just a procedural matter / formality or some kind of "downgrading"? Pardon my ignorance...

[dydx]

The Company would like to announce that Mr Chng Khoon Peng and Mr Tan Kok Hiang would relinquish their executive duties and step down as the Executive Chairman and Executive Director of the Company respectively. With effect from 1 November 2010, they will be designated as non-independent/non-executive directors.

Chairman Chng Khoon Peng is already 65 this year, and ED Tan Kok Hiang is 60. I suppose their coming retirement from executive duties to become non-executive directors should not have too big an impact on the present management team headed by Deputy Chairman & Group MD Ben Chng, who is now 39 and already proven for the job for some years now. Based on the info on directors' remuneration in the latest FY10 AR, the 2 retiring directors should save the company at least $1.0m a year in management/administrative expenses.

[julianbream]

Thanks for the views, dydx. It sounds logical to me.

[dydx]

Founder & ED Chng Khoon Peng has today (18Nov10) converted his last lot of 1.2m warrants (expiring 30Jun11) prematurely into new Viz Branz shares, thereby raising his direct shareholding to 23.2419%.....
http://info.sgx.com/webcorannc.nsf/Annou...endocument

Is this an early indication of another Special Interim dividend - like the one of $0.0075/share for last FY10 (ended 30Jun10) declared on 28Dec09 and paid on 28Jan10?.....
http://info.sgx.com/webcorannc.nsf/Annou...endocument

[pianist]

i read a web news -
"in August last year, businessman Quek Leng Chan's Lam Soon Malaysia Sdn Bhd , whose portfolio includes Knife cooking oil , was appointed Viz Branz's sole distributor in Malaysia."
I was very curious about this Lam Soon company and went to supermarket and realise that there are many products on the shelves being distributed by Lam Soon. I wonder what kind of advantage does Lam Soon provides to its product-producing clientee that many want to tap their distributing channels.