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Kimly
04-09-2019, 08:29 AM.
Post: #31
RE: Kimly
(04-09-2019, 02:28 AM)Big Toe Wrote: 3. So who cooked up the plan? My best guess is both parties, it takes too hands to clap but from my perspective, it is unlikely a coffeeshop chain would hatch or initiate such an elaborate plan.

Between his top job at Pokka, and building and selling ASC to Kimly, it does not seem to make sense (to me) for Ong -- in terms of risk and reward -- to ditch the former for the later. I mean, the guy is probably worth a few millions. Why take so much risk for just a couple of millions more?

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04-09-2019, 11:22 AM. (This post was last modified: 04-09-2019, 11:40 AM by Big Toe.)
Post: #32
RE: Kimly
(04-09-2019, 08:29 AM)karlmarx Wrote:
(04-09-2019, 02:28 AM)Big Toe Wrote: 3. So who cooked up the plan? My best guess is both parties, it takes too hands to clap but from my perspective, it is unlikely a coffeeshop chain would hatch or initiate such an elaborate plan.

Between his top job at Pokka, and building and selling ASC to Kimly, it does not seem to make sense (to me) for Ong -- in terms of risk and reward -- to ditch the former for the later. I mean, the guy is probably worth a few millions. Why take so much risk for just a couple of millions more?

1. There is always the big loan that was taken up to pay for the landed property among other things.

2. Top job, esp a local and regional role do not equate to top pay. I know of private companies that are larger than Kimly but the top guy get paid peanuts. Of course the top guys have shares in the group of companies which maybe worth hundreds of millions. Pay is secondary. Does Ong own a significant stake in Pokka, unlikely.

3.  The other question is valuation of ASC, $16M, not a lot of money in corporate terms but a lot of money if you think how it is created from thin air and is a failed business. It is just a tiny leech feeding on Pokka's resources. Then again failed businesses that burn hundreds of million with no path to profitability can be valued at billions, so this may not be so far fetched after all in the world we currently live in.

Valuation models are so advanced now, new metrics are created to make everyone feel good about themselves and push valuations to space and beyond. This is true in the PE space where too much money is chasing after too few quality investments.

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22-10-2019, 07:09 PM.
Post: #33
RE: Kimly
Acquisition of Coffeeshops and Industrial Canteen Outlets

Kimly Limited (“金味有限公司”) plans to acquire interests in several coffeeshops and industrial canteen unitsfor an aggregate consideration of S$59.0 million, which will result in the Group expanding its footprint to 81 outlets. The proposed acquisition is made in furtherance of the Group’s asset ownership strategy. 

The Proposed Acquisition
Jin Wei Food Holdings Pte. Ltd. (“Jin Wei”), a wholly-owned subsidiary of the Group, has entered into a non-binding term sheet ("Term Sheet") with a group of third party vendors (“Vendors”) to acquire their interests in a portfolio of coffeeshop leases, coffeeshop units and industrial canteen units (together, the "Target Properties").

The Target Properties comprise:
a) four long term leasehold coffeeshop units, which are HDB commercial units located within mature HDB estates;
b) three freehold industrial canteen units, which are located in mature and populated industrial areas in close proximity to residential areas; and
c) three short term coffeeshop leases, which are HDB direct leases.

The Term Sheet is non-binding, pending completion of due diligence and valuation of the Target Properties by the Group.

More details in :
1. https://links.sgx.com/FileOpen/Project%2...eID=582616
2. https://links.sgx.com/FileOpen/KML%20Hol...eID=582617
=========== Signature ===========
Specuvestor: Asset - Business - Structure.

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