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Global Palm Resources Holdings Ltd at 0.46ct
pharoah88
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29-Apr-2010 17:55     
 
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IPO  S$0.460

CLOSING  S$0.425  -S$0.350



wishbone      ( Date: 29-Apr-2010 12:18) Posted:


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knightrider
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29-Apr-2010 16:53     
 
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 Alert Admin 		I certainly see this is the lastest US nuclear Sub ! Nice picture !!!
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wishbone
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29-Apr-2010 12:18     
 
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AnthonyTan
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29-Apr-2010 11:39     
 
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 Alert Admin 		Negative postings regarding this IPO
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AnthonyTan
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29-Apr-2010 11:23     
 
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AnthonyTan      ( Date: 25-Apr-2010 16:07) Posted:

Tks starbugs for your POV.

101%, I will definitely won't apply.

Don't waste your time.

Caveat emptor.

 

 

 



starbugs      ( Date: 25-Apr-2010 11:53) Posted:



I first posted in CNA/HWZ:

 

Just my POV after a quick read of the Global Palm IPO prospectus:

1) Much of the earnings come from an adjustment to fair market value of its plantations. Take note!

2) EPS 4.82 cents gives P/E of 9.5, BUT taking out asset value adjustments, EPS is 0.76cents or P/E of 60.3

3) Pre IPO NAV is only 20.31 cents (IPO price is 46c)

4) Most of the trees (87.7%) are post-mature - "peaked". Productivity seems to be roughly in line with Kencana's, but Kencana has a better mix of immature and mature trees.

All in: Not Compelling


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AnthonyTan
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29-Apr-2010 11:21     
 
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 Alert Admin 		Pl. read starbugs's posting.

AnthonyTan      ( Date: 26-Apr-2010 10:11) Posted:

With these kind of nos. do you still want to .........

       



starbugs      ( Date: 25-Apr-2010 11:53) Posted:



I first posted in CNA/HWZ:

 

Just my POV after a quick read of the Global Palm IPO prospectus:

1) Much of the earnings come from an adjustment to fair market value of its plantations. Take note!

2) EPS 4.82 cents gives P/E of 9.5, BUT taking out asset value adjustments, EPS is 0.76cents or P/E of 60.3

3) Pre IPO NAV is only 20.31 cents (IPO price is 46c)

4) Most of the trees (87.7%) are post-mature - "peaked". Productivity seems to be roughly in line with Kencana's, but Kencana has a better mix of immature and mature trees.

All in: Not Compelling


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knightrider
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29-Apr-2010 09:09     
 
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Fat hope !!!

 
acetron 
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24-Apr-2010 22:24       About acetron       Contact       Quote!           
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knightrider
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29-Apr-2010 09:07     
 
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 Alert Admin 		We are correct, this is a sub-marine ! LOL.

Sept11      ( Date: 26-Apr-2010 11:53) Posted:

My gut feeling this one is another below water IPO. Avoid!
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louis_leecs
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26-Apr-2010 11:57     
 
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 Alert Admin 		KEEP THE MONEY,,,,,,,,,,,,GO TO BUKIT TIMAH HIL REST,MMM
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Sept11
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26-Apr-2010 11:53     
 
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 Alert Admin 		My gut feeling this one is another below water IPO. Avoid!
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AnthonyTan
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26-Apr-2010 11:53     
 
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Maybe underwriters do not do homeworks, hahaha

107 million private placement.

   3 million for public issue.



knightrider      ( Date: 26-Apr-2010 11:45) Posted:



Compare with Golden Agri and another, this one the plantation is somehow much much smaller in sizes,

and yet it want to be in the same range with big brothers, cannot justify. So I am also not applying. Fyi. Good Luck.
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knightrider
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26-Apr-2010 11:45     
 
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Compare with Golden Agri and another, this one the plantation is somehow much much smaller in sizes,

and yet it want to be in the same range with big brothers, cannot justify. So I am also not applying. Fyi. Good Luck.
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AnthonyTan
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26-Apr-2010 10:18     
 
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Investors subscribe IPO hoping to make coffee money

and wanton mee.You oso have notice some IPO when listed,

they are below water. When u r below water and can't

swim, you will know the conseqences lah
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AnthonyTan
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26-Apr-2010 10:11     
 
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With these kind of nos. do you still want to .........

       



starbugs      ( Date: 25-Apr-2010 11:53) Posted:



I first posted in CNA/HWZ:

 

Just my POV after a quick read of the Global Palm IPO prospectus:

1) Much of the earnings come from an adjustment to fair market value of its plantations. Take note!

2) EPS 4.82 cents gives P/E of 9.5, BUT taking out asset value adjustments, EPS is 0.76cents or P/E of 60.3

3) Pre IPO NAV is only 20.31 cents (IPO price is 46c)

4) Most of the trees (87.7%) are post-mature - "peaked". Productivity seems to be roughly in line with Kencana's, but Kencana has a better mix of immature and mature trees.

All in: Not Compelling

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AnthonyTan
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25-Apr-2010 16:07     
 
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Tks starbugs for your POV.

101%, I will definitely won't apply.

Don't waste your time.

Caveat emptor.

 

 

 



starbugs      ( Date: 25-Apr-2010 11:53) Posted:



I first posted in CNA/HWZ:

 

Just my POV after a quick read of the Global Palm IPO prospectus:

1) Much of the earnings come from an adjustment to fair market value of its plantations. Take note!

2) EPS 4.82 cents gives P/E of 9.5, BUT taking out asset value adjustments, EPS is 0.76cents or P/E of 60.3

3) Pre IPO NAV is only 20.31 cents (IPO price is 46c)

4) Most of the trees (87.7%) are post-mature - "peaked". Productivity seems to be roughly in line with Kencana's, but Kencana has a better mix of immature and mature trees.

All in: Not Compelling

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starbugs
Member
25-Apr-2010 11:53     
 
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I first posted in CNA/HWZ:

 

Just my POV after a quick read of the Global Palm IPO prospectus:

1) Much of the earnings come from an adjustment to fair market value of its plantations. Take note!

2) EPS 4.82 cents gives P/E of 9.5, BUT taking out asset value adjustments, EPS is 0.76cents or P/E of 60.3

3) Pre IPO NAV is only 20.31 cents (IPO price is 46c)

4) Most of the trees (87.7%) are post-mature - "peaked". Productivity seems to be roughly in line with Kencana's, but Kencana has a better mix of immature and mature trees.

All in: Not Compelling
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teeth53
Supreme
25-Apr-2010 11:10     
 
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DETAILS OF THE INVITATION  (Closing date: 27/04/2010) and Expected Listing ("When Issued" basis) 29/04/2010

Issue Size : 110,000,000 New Shares which will, upon issue and allotment, rank pari passu in all respects.

Issue Price : S$0.46 for each New Share.

Public Offer : Comprises an public offer in Singapore to subscribe for the 3,000,000 Million Shares

Placement Offer : Placement comprises of 107,000,000 million Placement Shares

Invitation Statistics:

Issue Price S$0.46 (NAV) per Share based on the audited combined balance sheet of our Group as at 30 September 2009:

Earnings Per shares

Historical net EPS of our Group for FY2008 based on the pre-Invitation share capital of 297,110,000 Shares( Rp236)

Historical net EPS of our Group for FY2008 based on the pre-Invitation share capital of 297,110,000 Shares, assuming that the Service Agreements had been in place in FY2008

Estimated net EPS of our Group for FY2009 based on the pre-Invitation share capital of 297,110,000 Shares

Estimated net EPS of our Group for FY2009 based on the pre-Invitation share capital of 297,110,000 Shares, assuming that the Service Agreements had been in place in FY2009 ((Rp235)(Rp487)Rp484)

Price Earnings Ratio

Historical price earnings ratio based on the historical net EPS of our Group for FY2008 (12.84 times)

Historical price earnings ratio based on the historical net EPS of our Group for FY2008 assuming that the Service Agreements had been in place in FY2008 (12.90 times)

(a) before adjusting for the estimated net proceeds from the issue of the

New Shares and based on the pre-Invitation share capital of 297,110,000 Shares

(b) after adjusting for the estimated net proceeds from the issue of the New Shares and based on the post-Invitation share capital of 412,968,000 Shares

Premium of Issue Price over the NAV per Share as at 30 September 2009:

(a) before adjusting for the estimated net proceeds from the issue of the New Shares and based on the pre-Invitation share capital of 297,110,000 Shares 117.7%

(b) after adjusting for the estimated net proceeds from the issue of the New

Shares and based on the post-Invitation share capital of 412,968,000 Shares 72.5%

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teeth53
Supreme
22-Apr-2010 09:16     
 
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 Alert Admin 		For more info on Invitation Statistics................see page 29
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teeth53
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22-Apr-2010 08:56     
 
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http://masnet.mas.gov.sg/opera/sdrprosp.nsf/936bad13609791c948256b3e001ed49f/D4FD650FF734F31B4825770C003EF6B5/$File/(1)%20Global%20Palm%20Resources%20Holdings%20Limited.Final%20Prospectus.clean.21%20April%202010.PDF

 



teeth53      ( Date: 22-Apr-2010 08:55) Posted:

http://masnet.mas.gov.sg/opera/sdrprosp.nsf/936bad13609791c948256b3e001ed49f/D4FD650FF734F31B4825770C003EF6B5/$File/(1)%20Global%20Palm%20Resources%20Holdings%20Limited.Final%20Prospectus.clean.21%20April%202010.PDF PROSPECTUS DATED 21 APRIL 2010 Invitation in respect of 110,000,000 New Shares comprising: (1) 3,000,000 Offer Shares at S$0.46 for each Offer Share by way of public offer; and (2) 107,000,000 Placement Shares at S$0.46 for each Placement Share by way of placement, payable in full on application.

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teeth53
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22-Apr-2010 08:55     
 
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 Alert Admin 		http://masnet.mas.gov.sg/opera/sdrprosp.nsf/936bad13609791c948256b3e001ed49f/D4FD650FF734F31B4825770C003EF6B5/$File/(1)%20Global%20Palm%20Resources%20Holdings%20Limited.Final%20Prospectus.clean.21%20April%202010.PDF PROSPECTUS DATED 21 APRIL 2010 Invitation in respect of 110,000,000 New Shares comprising: (1) 3,000,000 Offer Shares at S$0.46 for each Offer Share by way of public offer; and (2) 107,000,000 Placement Shares at S$0.46 for each Placement Share by way of placement, payable in full on application.
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