SingHaiyi Group (formerly: SingXpress Land)

[nitro]

7 August 2012
SINGXPRESS LAND UNVEILS “QUANTUM LEAP” FOR ITS INVESTMENT BANKING APPROACH TO PROPERTY DEVELOPMENT WITH S$94.4M SUBSCRIPTION OF NON-REDEEMABLE, CUMULATIVE CONVERTIBLE, NON-VOTING PREFERENCE SHARES BY MR TANG YIGANG THROUGH HIS SINGAPORE INVESTMENT VEHICLE

http://info.sgx.com/webcoranncatth.nsf/V...20043E179/$file/SXL_press.pdf?openelement

http://info.sgx.com/webcoranncatth.nsf/V...20043A545/$file/SXL_CCPS_final.pdf?openelement

Why doesn't this rich man just buy over the SingExpress and run it on his own? What he is injecting $94.4million is more than the market cap of Singexpress$73.2million?

Is he riding on the reputation of Mr Chan (MD of SingExpress), who has a proven record of turning things around, to grow/expand his property biz?

[privi]

Im surprised Nobody interested in this GEM??

[Musicwhiz]

Im surprised Nobody interested in this GEM??

Perhaps you could explain why this is a gem?

Thanks.

[propertyinvestor]

No Its not a Gem anymore. Not at this price.

[nitro]

No Its not a Gem anymore. Not at this price.

NAV after the private placement in May 2012 = 1.13cents / Market trading at $0.013
NAV after the full conversion of the Subscription Shares = 1.16cents / Market trading at $0.016

Market is alway trading > NAV.

Reading through the AR,

"The investment properties are carried at fair value determined annually by independent professional valuers on the highest-and-best-use basis. Changes in fair value are recognised in income statement when incurred."

Is there any other hidden aspects to show that this is a gem?

Btw - Parent company shot up 15.83% today.

[Greenrookie]

No Its not a Gem anymore. Not at this price.

NAV after the private placement in May 2012 = 1.13cents / Market trading at $0.013
NAV after the full conversion of the Subscription Shares = 1.16cents / Market trading at $0.016

Market is alway trading > NAV.

Reading through the AR,

"The investment properties are carried at fair value determined annually by independent professional valuers on the highest-and-best-use basis. Changes in fair value are recognised in income statement when incurred."

Is there any other hidden aspects to show that this is a gem?

Btw - Parent company shot up 15.83% today.

huh mandatory cash offer price lower than market price??? how to pass??

[propertyinvestor]

No Its not a Gem anymore. Not at this price.

NAV after the private placement in May 2012 = 1.13cents / Market trading at $0.013
NAV after the full conversion of the Subscription Shares = 1.16cents / Market trading at $0.016

Market is alway trading > NAV.

Reading through the AR,

"The investment properties are carried at fair value determined annually by independent professional valuers on the highest-and-best-use basis. Changes in fair value are recognised in income statement when incurred."

Is there any other hidden aspects to show that this is a gem?

Btw - Parent company shot up 15.83% today.

huh mandatory cash offer price lower than market price??? how to pass??

It doesnt have to pass. Its just for the sake of making an offer thats all.

[money]

that seems rather retarded since the offeror can always bid low so that it wont be mandatory eventually

[propertyinvestor]

that seems rather retarded since the offeror can always bid low so that it wont be mandatory eventually

Because there is no intention to privatise it to begin with. Its just for the sake of regulatory process.

[nitro]

http://info.sgx.com/webcoranncatth.nsf/V...B0032C439/$file/SXL_Ann_0311A.pdf?openelement

Check this out, new boss has good contacts. Getting Neil Bush on board!