TTJ Holdings

[boonsong]

https://laymaninvesting.blogspot.com/202...offer.html

Wrote a post regarding the matter. For the sake of brevity and due to the use of tables, I would just include the first few paragraph:

This post attempts to fulfill two objectives. First, it seeks to demonstrate that the value in TTJ ("company"), even when conservatively considered, is leaps and bounds higher than the conditional cash offer. The exercise does not involve by plainly looking at the Net Asset Value stated in their books, but a practical and simple way of assessing things.

The second, is how I felt about the whole situation, what one should realistically expect as a shareholder, and what I had learnt from this episode.

Back of the envelope valuation of TTJ

As we go along, keep in mind, the offer from THC Ventures is 0.23$ a share, or a total consideration (for 349.5m shares), 80.385m.

The value of TTJ are primary in 3 areas, liquid assets, properties, and the structural steel business.

...
https://laymaninvesting.blogspot.com/202...offer.html

[brattzz]

I don't think SIC will even bother, it's a known loop-hole over the years and shrewd bosses will definately maximises it, i don't see why TTJ's boss Teo should be any indifferent to it..    

What Mona Sabnani wrote is spot on! SIC should be looking into his pointers.

What Mona Sabnani wrote is spot on! SIC should be looking into his pointers.

What Mona Sabnani wrote is spot on! SIC should be looking into his pointers.

[pianist]

There is another article in the business times today, citing technical issue with the company act

[pianist]

From straits times - . Long Island
The Government is studying the feasibility of reclaiming a long island off East Coast to protect the area from sea-level rise.

Many money making opportunities ahead for ttj le

[brattzz]

From straits times - . Long Island
The Government is studying the feasibility of reclaiming a long island off East Coast to protect the area from sea-level rise.

Many money making opportunities ahead for ttj le

yes, definitely, sg gov will go-ahead with main contractor for this mega-east coast plan...10 billions budget per year... 

East coast park will be just like sentosa! with mega-rich yachts/condos/GCBs!!!

[generalsandworkouts]

https://www.businesstimes.com.sg/opinion...s-underway


WE REFER to the letters, “Takeover loophole disadvantages minority shareholders of TTJ Holdings” by Mano Sabnani published on May 25, “TTJ privatisation offer ‘unfair’” by Patrick Wright published on May 26, and the commentary “Compulsory acquisition loophole back in the spotlight as TTJ minorities get lowball offer” by Ben Paul published on May 30.

We thank the writers for their views and feedback.

As part of the Accounting and Corporate Regulatory Authority (Acra)’s efforts to ensure Singapore’s corporate laws and regulatory framework stay competitive, Acra has reviewed several areas in the Companies Act, through a Companies Act Working Group, comprising members from local and international law firms, and industry regulators and associations.

One of the areas reviewed included matters relating to the compulsory acquisition framework, and in particular exclusions of the shares of persons and corporations which may influence or control the offeror, from the computation of the 90 per cent threshold which must be obtained before an offeror can exercise the right of compulsorily acquisition.

We will be proposing amendments to the compulsory acquisition framework, with a view to addressing the concerns raised while ensuring that our requirements do not make it onerous for companies to restructure.

Shirley Loo
Divisional director, corporate development division
Acra

[pianist]

https://www.businesstimes.com.sg/opinion...s-underway


WE REFER to the letters, “Takeover loophole disadvantages minority shareholders of TTJ Holdings” by Mano Sabnani published on May 25, “TTJ privatisation offer ‘unfair’” by Patrick Wright published on May 26, and the commentary “Compulsory acquisition loophole back in the spotlight as TTJ minorities get lowball offer” by Ben Paul published on May 30.

We thank the writers for their views and feedback.

As part of the Accounting and Corporate Regulatory Authority (Acra)’s efforts to ensure Singapore’s corporate laws and regulatory framework stay competitive, Acra has reviewed several areas in the Companies Act, through a Companies Act Working Group, comprising members from local and international law firms, and industry regulators and associations.

One of the areas reviewed included matters relating to the compulsory acquisition framework, and in particular exclusions of the shares of persons and corporations which may influence or control the offeror, from the computation of the 90 per cent threshold which must be obtained before an offeror can exercise the right of compulsorily acquisition.

We will be proposing amendments to the compulsory acquisition framework, with a view to addressing the concerns raised while ensuring that our requirements do not make it onerous for companies to restructure.

Shirley Loo
Divisional director, corporate development division
Acra

Onerous as in big fishes not enough monies ah? I guess ttj before or after delisting if it happens, their business structure would largely still remain the same , facing better prospects after covid lockdown and large pipelines of construction budget from govt amid difficult inflationary market, not so much restructuring rite?

[brattzz]

Apparently ACRA's director does not answer specifically to TTJ's case in point, and prefers to consider the entire framework...
So until these amendments are put on the table and into force, nothing gonna change just as it has been for the last few years...

and yes, we strongly believe that TTJ will be having improved prospects for the next few years!!!
*vested*

SAY NO to 23cts VGO by TTJ!!!!

[Yoyo]

Round 1 Dutech
Round 2 TTJ
I am not a shareholder prior to the VGO. Has amassed 550,000 shares at 0.23 to-date.
Showing my support in a small way.
We want offer price revision.

[brattzz]

Round 1 Dutech
Round 2 TTJ
I am not a shareholder prior to the VGO. Has amassed 550,000 shares at 0.23 to-date.
Showing my support in a small way.
We want offer price revision.

Thanks Yoyo for joining in the fight! we most likely need all available liquidity owners that are willing to take this risk/bet/fight head-on with Boss TEO!

buy-buy-buy!!

Be mindful, of most likely 3 outcomes,

1) Boss Teo VGO fails, try again 12 months later, share prices comes down to below 23 cts, and offers bit higher next year...so your $ are stuck at least 12 months...

2) Boss Teo VGO succeeds anyhow at 23 cts, all of us surrender...

3) Boss Teo revises UP his offer prices, some say 27 cts, some say 30 cts... 

What say you?!!