对啊。简直是shit.
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作者:speculatist (等级:4 - 马马虎虎,发帖:2182) 发表:2007-06-14 09:31:04  楼主  关注此帖
可能很多人要失望了:Voluntary Conditional Cash Offer for Sembawang Kimtrans http://info.sgx.com/webcorannc.nsf/ef3ba6cb188613ea482571b2003641d3/a4cec6734aa39fac482572f90046161e?OpenDocument (more...)
对啊。简直是shit.
自己对自己的资本负责! speculatist.blogspot.com
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作者:speculatist (等级:4 - 马马虎虎,发帖:2182) 发表:2007-06-14 09:49:55  2楼
可能很多人要失望了:Voluntary Conditional Cash Offer for Sembawang Kimtrans http://info.sgx.com/webcorannc.nsf/ef3ba6cb188613ea482571b2003641d3/a4cec6734aa39fac482572f90046161e?OpenDocument (more...)
这次算是失败。
虽然赚钱,还是闷。还是要总结。


South Park 里面有句名言:you are right, for the wrong reason.


Corporate Governance 到底有多重要?

他们就是在公司一片看好的时候才可能显现出来。

当年CAO的问题大家一片口诛笔伐,说什么Corp Gov 问题。

今天这种deal ,难道就不是Corp Gov的问题吗?


翻翻Semb K的board of director list.

6 persons.

Only 2 are independent directors, other 4 are

Paul Little (the offeror)

Peter Tan Chin Hock (the offer document typo? in the doc, it was Tan Choon Hock)
(this guy sold all his shares about 8.9% , at 70 cents, to Toll)

Victor Tan Chin Ann (Tan Chin Hock, Tan Chin Ann...)

Chua Eng Boon



大股东内部商量好了你买我卖,价格我定,小股民在没有讨价还价的权利。

你的利益谁来保护?现在真正理解了Independence Directors>= 75% of the number of board members这个要求的意味


请同学们发表高见


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作者:speculatist (等级:4 - 马马虎虎,发帖:2182) 发表:2007-06-14 09:55:00  3楼
什么意思? 我是新手, 看不懂, 谁能帮助解释一下 1. 这个OFFER 必须接受么? 2. 接受之后是否意味着, SEMKIM 就不再上市了?
the Offeror in fact at the time of annoucement, already have
about 50% of the whole share structure .


Kimtrans Singapore Pte Ltd sold (or agree to sell) to them at S$0.7 about
22.17% of the total shares


Tan Choon Hock (Tan Chin Hock??) sold or agree to sell 8.96% at S$0.7 about the total shares.


After Toll take over all the shares, sure, Semb Kim will be taken down, because the SGX rule requires at lease xxx percentage are held in open market. (23% ?) cannot remember.


Big share holders sell their shares at such a discount,

I see it a piece of shit thing.
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作者:speculatist (等级:4 - 马马虎虎,发帖:2182) 发表:2007-06-14 11:45:56  4楼
Thanks for reply. Then I shall sell out imediately. But why people are bid at 0.74 now? they haven't noticed the announcement yet, correct?
why they are buying there?
many reasons,

some people think this is good!!!! they buy.


some people think this is bad, they already shorted a lot, and they buy back.


some people want to cheat those have not yet sold, so that put some queue there to pretend to buy, or buy a little, sell a lot.

anyway, many reasons.
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作者:speculatist (等级:4 - 马马虎虎,发帖:2182) 发表:2007-06-14 11:46:15  5楼
这算不算是有人在操纵股市?是的话?或内幕交易?SGX应该调查才对啊?
不算
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作者:speculatist (等级:4 - 马马虎虎,发帖:2182) 发表:2007-06-14 11:46:23  6楼
Tan Chin Hock, Tan Choon Hock是两个人。Peter Tan,和Victor Tan是兄弟两个。 还有独立董事有责任保护小股东利益云云属于媒体操作,这种说法没有法律依据。独立董事需要履行董事义务并且在大股东利益和公司利益发生冲突下照顾公司利益。所有董事以照顾公司利益为先。 这笔交易属于大股东刷小股东:你不爽可以不接受,可是那又怎么样?而且,散户很散,德意志银行用两个价钱玩心理战。这种case,以前只在书上看过,没有想到自己能够遇上。 所以早上开盘就卖出,坚决那种。并且SembKim已经从warchilist删除。 弟兄们,集中精力做其他的吧。
感谢纠正。
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作者:speculatist (等级:4 - 马马虎虎,发帖:2182) 发表:2007-06-14 11:46:38  7楼
sorry, should be 10%Free Float 723 An issuer must ensure that at least 10% of equity securities (excluding preference shares and convertible equity securities) in a class that is listed is at all times held by the public. 724 If the percentage of securities held in public hands falls below 10%: - (1) The issuer must, as soon as practicable, announce that fact; and (2) The Exchange may suspend trading of the class, or all the securities of the issuer. 725 The Exchange may allow the issuer a period of 3 months, or such longer period as the Exchange may agree, to raise the percentage of securities in public hands to at least 10%. The issuer may be delisted if it fails to restore the percentage of securities in public hands to at least 10% after the period. ---- http://info.sgx.com/SGXRuleb.nsf/VwCPForm_LISTING_MANUAL_Download/LM%20Chapter%2007%20(060901).pdf/$File/LM%20Chapter%2007%20(060901).pdf
thanks for correction
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