Sino Grandness

[piaopiao]

Faith is now broken
http://tta.listedcompany.com/newsroom/08...00913E.pdf

It’s quite incredible... the faith shareholders have

“In respect of convertible loan which is due on 16 May 2018, parties are in discussion to restructure the convertible loan. The Company will keep shareholders updated on any developments as and when appropriate.”

http://infopub.sgx.com/FileOpen/SGFIG%20...eID=505760

Specuvestor, your analysis is superb. Should have heeded your warnings.

Specuvestor,

What's your advice now?

An investor had paid SGD 6.8 mil for Sino Grandness shares.

And now another investor is paying USD 30 mil (RMB 200 mil) for Garden Fresh shares.

JW Capital paid 4cts or SGD6.8m for ~15% stake of the listco. Means they value the listco is worth SGD45.3m which holds 100% of Garden Fresh

Guangdong Baoao paid USD30m or "SGD40.2m" for 4.65% of Garden Fresh, basically putable by 30 June 2020 if Garden Fresh doesn't list. Sounds familiar. Which do you believe?

If Baoao paid using USD then Soleado probably wants their money back via Garden Fresh cash distribution

It's quite amazing actually

Quite remarkable that

1) They actually still able to get people to put money in. I mean there are always people wanting to sell funny stuff at Carousell but to actually have buyers, that's another thing altogether
https://links.sgx.com/1.0.0/corporate-an...uddies.com
2) OPMI reacted happy that they are diluted 17% at 4cts for time extension and another shot at the daytona adrenaline
3) the simple math of S$6.8m cant repay Soledo's US$20m loan seems lost in translation... so most likely they are only going to pay interest only. And few years back I guesstimated their cash burn is US$18m a year... maybe less now since so much turnover
4) they have very good long suffering shareholders including OPMI looking at the AGM vs the tone of other AGMs... cheering when stock up 20-40% (pick a number) forgetting and forgiving it's still down 40-90% (pick a number) from cost... where to find

I made a mistake. So far investor only paid SGD 3.3 mil for SG shares and SG has paid SGD 2.0 mil from this money to Soleado.

Specuvestor, you had earlier indicated in March 2019 that you think SG will only pay Soleado interest from the placement monies. Looks like you still have doubts. 

Can SG pay the balance of the Soleado loan from the USD 30 mil? If so, will SG s OKhare price continue to recover?