Latest Forum Topics / Chuan Hup Last:0.166 -0.002 | Post Reply |
Any news abt this counter?
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hokokfei
Member |
02-Nov-2006 09:35
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Thanks for the info. Btw, any idea why SGX did not report this news? Does it contradict the current governace (whatever) regulations? How does the mews release affect ChuanHup's share price? Tks/Rgds |
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shplayer
Elite |
25-Oct-2006 17:44
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Chuan Hup sold about 3.1 mil shares of Cedarwoods Prop (listed on ASX) for A$4.46/sh raising about A$13.79mil. With this sale, CH is not longer a substantial shareholder of CWP....Balance holdings is about 2.3mil shares or 4.18%. This was announcement in ASX on 18 Oct 2006......but not in SGX. |
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shplayer
Elite |
25-Oct-2006 17:36
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Announcement 23 Oct 2006 CHUAN HUP HOLDINGS LIMITED (Incorporated in the Republic of Singapore) Co Reg No: 197000572R INVESTMENT IN CH AGGREGATE TRADING AND SUNBEST TRANSCO
The Board of Directors of Chuan Hup Holdings Limited (the "Company") is pleased to announce that in line with the Company?s investment activities, it?s wholly-owned subsidiary, Cresta Investment Pte. Ltd. ("CI"), has agreed to invest in CH Aggregate Trading, a company carrying on the business of trading and transportation of crushed aggregates in the Middle East, and Sunbest Transco, a company carrying on the business of transportation of armour rock from Oman to Ras Laffan.
CH Aggregate Trading ("CHA") is a company to be incorporated in Cyprus carrying on the business of trading and transportation of crushed aggregates in the Middle East. CHA will have an authorised share capital of US$10.55 million divided into 10,550,000 ordinary shares of US$1.00 each, of which 10,550,000 shares will be issued and fully paid up. CI will subscribe for 4,220,000 shares in CHA for a total consideration of US$4,220,000, to be paid in cash. This represents 40% of the issued and paid up capital of CHA, and will result in CHA becoming an associated company of the Company. Worldwide Rock Investments Ltd ("WRI"), a subsidiary of Dredging, Environmental and Marine Engineering n.v. ("DEME"), will subscribe for the remaining 6,330,000 ordinary shares in CHA for US$6,330,000, to be paid in cash.
CHA will be awarded an exclusive contract by Musandam Rock LLC, the concession holder for Musandam Quarry in Oman, to commercialise the crushed aggregates for concrete or for asphalt works and to sell to customers in Qatar, Bahrain and Kuwait and to organize the maritime transportation to these customers.
Sunbest Transco ("ST") is a company in Cyprus carrying on the business of transportation of armour rock from Oman to Ras Laffan.
ST has an authorised capital of US$1 million divided into 1,000,000 ordinary shares of US$1.00 each, of which 100,000 shares are issued and paid up. WRI is the sole shareholder of ST. WRI will transfer 40,000 ordinary shares of US$1.00 each in ST to CI for a total consideration of US$40,000. This represents 40% of the issued and paid up capital of ST. As a result, ST will become an associated company of the Company. The consideration will be paid in cash. WRI will hold the remaining 60% of the issued and paid up capital of ST.
WRI is skilled and experienced in the construction market in the Middle East and has good relations with the leading local players in this field. DEME, which owns 97% of WRI, is a Belgian company which is in the business of dredging, environmental and marine engineering in Western Europe, the Middle East and the Asia Pacific region. The Deme Group comprises more than fifty subsidiaries and affiliated companies.
Save that Mr Peh Kwee Chim is a Director and substantial shareholder of the Company, none of the Directors or controlling shareholders of the Company have any direct or indirect interest in both transactions.
Both transactions are not expected to have an effect on the earnings per share or net tangible assets per share of the Company for the Financial Year ending 30 June 2007.
BY THE ORDER OF THE BOARD
Valerie Tan May Wei
Singapore, 23 October 2006 |
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shaguar
Member |
11-Oct-2006 11:05
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Hi chipchip what does it mean when they have a large free float of shares in the market? |
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hokokfei
Member |
11-Oct-2006 10:55
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Thank you very much for both your replies. Much obliged. |
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shplayer
Elite |
09-Oct-2006 15:49
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hokofei, If you bought at $0.75, you must have received the $0.445cts div distributed earlier. There will be another $0.05 div at the end of Oct. Yes, after CH sold the main business to Malaysian SCOMI Marine (a company controlled by the current Msian PM's son) it is now basically an investment company with the following holdings : Chuan Hup Offshore (CHO) - 23.7% SCOMIMar - 28.9% PCI (electronic contract mfr on SGX)- 32.69% plus some property development in Australia and other less significant investments. NTA of CH is USD0.2625 (about S$0.415) per share. This counter is rather sleepy but do take note of the following:
Hope this helps. |
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chipchip66
Master |
09-Oct-2006 13:44
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They have a large float of shares in the market! |
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hokokfei
Member |
09-Oct-2006 13:17
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Have 30k at 0.75cts. What are my options besides holding or selling partial? Is it true their revenue will depend on the Malaysian company who bought over? If so, with fluctuating oil pxs, why is it not doing as well as say Semb KimTrans? |
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