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OCULUS LIMITED

hyun78e
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03-Jun-2009 15:29

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Yells: "BE REAL"

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Hi, all I left this forum many many months since the LM brother bankurpt and made a big lost on contra. I felt this counter untouched ever since then. and one time I checked it was 0.35. so I bought a bit more to average down and didn't watch it for couple of months. today I looked at it again and I was shocked.. came up 3times from the bottom. what is going on here? have day sold the carbon already or what? I tot it will take at least 2 years to come back... so I am confused. couple of weeks ago they send me some notes for the General meeting with some ordinary agenda like nomidating directors and issuing more share and changing name and etc.. is it taking the wave with the current rally or anything actually happened? I read the news from company but nothing really convince me.

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yipyip
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07-May-2008 23:59

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Xiang Le Investment Pte Ltd

shareholding from 10.01% to 18.69%

http://info.sgx.com/webcorannc.nsf/ef3ba6cb188613ea482571b2003641d3/cecdaf158753c580482574420041ee9b?OpenDocument

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:idea:
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01-May-2008 17:01

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:idea:

ALERT! ALERT!

Too Much television is bad for health!

[quote]

Last Online:
30th April 2008 10:51 PM
Location: Bishan
Gender:

Oculus $15mil pte placment still with Ariel S'pore not utilised
[/quote]

yhliang ( Date: 30-Apr-2008 23:29) Posted:

78710,

hi,will it reach back the price u advised to hold at 33-42 cts

television ( Date: 30-Apr-2008 22:49) Posted:

Oculus still has $15mil from pte placement proceeds with Ariel Ltd not utilised yet

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yhliang
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30-Apr-2008 23:29

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78710,

hi,will it reach back the price u advised to hold at 33-42 cts

television ( Date: 30-Apr-2008 22:49) Posted:

Oculus still has $15mil from pte placement proceeds with Ariel Ltd not utilised yet

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television
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30-Apr-2008 22:49

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Oculus still has $15mil from pte placement proceeds with Ariel Ltd not utilised yet

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zhuge_liang
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18-Apr-2008 00:38

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More bad news. More terminations. http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_142C47AB29BB4B214825742E003474C5/$file/SwiftSPTermination.pdf?openelement

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zhuge_liang
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14-Apr-2008 23:27

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Bad news from Oculus.

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_841513E2ECDF40D84825742B004BD2D0/$file/terminationofgoldlineacquisition.pdf?openelement

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ghlau935
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05-Nov-2007 11:11

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I am waiting at $0.13..........come to me.......... Smiley

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787180
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05-Nov-2007 11:00

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Posted: Mon Nov 05, 2007 10:51 am Post subject:

alwaysrng wrote:

Keppel and Kerry Groups are among Aretae's shareholders as well. i think this is something to bear in mind when thinking abt investing in oculus. Smile

hi no > contra plse...just buy and keep if U know it has value ..ignore the ups and downs..ask youself..do U expect to get at 15 to 20cts level...buy with surplus cash and watch it grows later .I know how U feel when U see Oculus plunges..Warren Buffet..buy and keep for value investing..treat ready like FDs esp our banks' deposits are so low..can't ven beat infaltion

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Posted: Mon Nov 05, 2007 10:51 am Post subject:

alwaysrng wrote:

Keppel and Kerry Groups are among Aretae's shareholders as well. i think this is something to bear in mind when thinking abt investing in oculus. Smile

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787180
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03-Nov-2007 15:11

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Posted: Sat Nov 03, 2007 2:47 pm Post subject:

P168 wrote:

cbkia wrote:

Oculus will be like Banjoo.

It can be another Wilmar Int'l if given sufficient time!!!

Why sell cheaply??? Laughing

..See Parent Global issue 1.5 billion at 10cts price now still a premium a 16cts above the purchase price of 10cts to fund its RTO

Simlarly Oculus issue 1.2 billion shares at 50cts each shd be at least 56cts theoretically..as Areate is > profitable than the China base concrete supplier
..see below for details....

Posted: Fri Oct 26, 2007 6:44 pm Post subject: GLOBAL ARIEL: A play on China's property boom

--------------------------------------------------------------------------------

GLOBAL ARIEL may seem like a sexy play on China?s construction boom but it has been largely unnoticed since its shares began trading in June this year.

A US hedge fund, however, is betting on the company, which currently has a market capitalization of nearly $300 million and supplies ready-mixed concrete to the building industry.

On Oct 16, Global Ariel entered into an agreement to offer up to 29.4 million shares in a private placement to D.B. Zwirn Mauritius Trading and D.B. Zwirn Special Opportunities Fund.

D.B. Zwirn Mauritius Trading is wholly-owned by D.B. Zwirn Special Opportunities Fund, L.P., a limited partnership managed by D.B. Zwirn & Co., L.P., a global alternative investments manager and merchant capital provider with over US$5 billion worth of assets under management.

They are the same sources of a $100-million financing facility for Oculus in August this year to fund its expansion into renewable energy businesses.

The funds will acquire Global Ariel?s shares at a placement price of 17.01 cents a share.

The net proceeds from the placement are estimated to be S$4.8 million, which will be used for the construction of a multi-purpose development of mixed residential and commercial use in China.

Operations at a ready-mixed concrete plant. Picture by Dave TanThe placement will be part of a series of fund raising exercises which the company intends to undertake to fund the development. The property project will mark a major move in Global Ariel?s vertical integration of its business.

?Being the market leader of ready-mixed concrete in Suzhou gives us a strong competitive advantage over the cost of building materials, which forms a significant proportion of the costs for property development.

"We will expect the synergies generated from the progression to property development and the additional revenue streams to have a positive impact on our earnings in the coming years,? said Executive Chairman of Global Ariel, Mr Sun Jianming.

$115-million reverse takeover

In its previous incarnation, Global Ariel was Ho Wah Genting International, a company incorporated in Singapore 34 years ago as Horiguchi Engineering.

A series of events, including a business downturn, caused the company to become insolvent. It sought a suspension of the trading of its shares and that took effect in July 2001.

Ariel Singapore, a private investment company, undertook a white knight rescue of Ho Wah Genting International in March 2004 through an injection of funds. The company changed its name to Global Ariel in March 2005.

The move towards a reverse takeover of the China ready-mixed concrete business started in Feb 2006, when Global Ariel entered into an agreement to acquire Assetgold Finance, the investment holding company of 8 PRC subsidiaries in Jiangsu province. They are in the business of producing ready-mixed concrete.

The group is said to be the second largest supplier in Jiangsu.

Global Ariel completed the acquisition in June this year by issuing 1.15 billion new shares at 10 cents a share to Ever Universe Investments, which became the largest shareholder of Global Ariel with a 69% stake.

The vendors have given a dividend guarantee of 50 per cent of the net profit of the group this year, or $5 million, whichever is greater.

The executive chairman of Global Ariel is Sun Jianming, 38, while his father, Sun Jinnan, 60, is the managing director. They have a combined 34.2 % stake in Ever Universe.

FY 2004 FY2005 FY2006 1H 2007
Revenue (RMB '000) 814,641 594,476 609,664 303,957
Net profit (RMB '000) 151,477 49,244 12,680 16,364
EPS (RMB cents) 9.2 3.0 0.8 1.07

Barges transport raw materials for making cement to Global Ariel's plants, lowering costs. Picture by Dave TanThe group?s sales and profits slipped in FY 2005 and FY 2006 largely due to measures that the Chinese government took to curb speculation in the property sector.

Highlights of its 1H 2007 (period ended June 30) results:

* Revenue increased 13.53% (or RMB 37.3 m) as a result of a 5.6% increase in output and 10.2% rise in average selling price.
* Gross profit margin was 16% versus 14.3% previously.
* Profit attributable to shareholders crept up 1.8% to RMB 16.3 million.
* Net asset value as at June 30 this year was 24 RMB cents.

The group?s sales are primarily of ready-mixed concrete, which has a shelf-life of about four hours after it is mixed and poured into the mixer truck for delivery.
Canals are commonplace in Suzhou, threading even between homes.

As a result, the group?s customers are located within 50 km of its concrete-mixing plants. The business is largely dependent on the building and construction industry in Jiangsu, a province whose better-known destinations include Suzhou city.

The city has a network of rivers, which serve Global Ariel well. All of the Group?s concrete-mixing plants are located near rivers, and raw materials such as coarse aggregate, sand and cement are transported to the plants on barges.

Growth drivers from Suzhou development

Global Ariel?s management is of the view that Suzhou?s growing economy and increase in capital investment will lead to an increase in infrastructure and construction projects that will result in increased demand for ready-mixed concrete. Suzhou?s GDP is currently ranked fifth among PRC cities.

In February 2007, the PRC government approved the construction of an underground light railway system - the Suzhou Metro - through the city of Suzhou. It is the first prefecture level city in China to gain approval for such a major project.

Light railway systems have already been completed in provincial-level cities such as Shanghai, Beijing and Guangzhou.

Construction of the first railway line is expected to start by the end of 2007 and be completed by 2011. This first line, starting from Suzhou National New & Hi-Tech Industrial Development Zone and ending at Suzhou Industrial Estate, stretches over 26.1km with 23 stations.

The total investment involved for the first line is estimated to be around RMB9.7 billion. Based on the construction of Guangzhou Metro Line 2 (23.3 km with 20 stations) which requires a total of 1.14 million cubic metres of concrete, the amount of concrete needed for the entire Suzhou Metro Project is estimated to be around 6.8 million cubic metres.

Another key driver for infrastructure growth will come from the Suzhou City Master Development Plans (2007-2020). Picture by Dave TanAnother key driver for infrastructure growth will come from the Suzhou City Master Development Plans (2007-2020) under which the planned city centre will have a total built-up area of 599.2 sq km, close to 3 times the built-up area in 2005.

The government also targets to increase the population in the city centre from the existing 2.3 million to 3.6 million by 2020, representing a CAGR of 3.2% over the next 13 years.

The urbanization and population increase in Suzhou will further boost demand for infrastructure and property development projects over the next ten years. This will also involve the extension of Suzhou?s internal railway system to link up with the neighbouring cities.

Among the top 5 in China

Global Ariel is currently the largest ready-mixed concrete producer in Suzhou and among the top 5 in China. Besides ShanghaiConstruction Co, Global Ariel is the only listed player among the top 5 ready-mix concrete producers.

Given its market leading position (approximately 25% market share in Suzhou), some observers figure that Global Ariel is well-positioned to leverage on the booming construction growth in China and likely to be involved on a major scale for the upcoming infrastructure projects in Suzhou.

As of June 2007, Global Ariel has signed contracts to supply ready-mixedconcrete to 162 projects of various sizes. Some of the more significant projects include the relocation of the Railway Station in Suzhou.

Foreign investors have placed bets on China?s construction and property development sector by investing in cement makers. Recently, Goldman Sachs bought a 25% stake in Hongshi Group, second largest cement maker in Zhejiang province for RMB600 million.

MS Asia Investment, a private equity unit of Morgan Stanley and International Finance Corp, agreed in April last year to pay RMB1.27 billion for a 14.3% stake of Anhui Conch Cement, the largest cement maker in China.

http://www.nextinsight.com.sg/content/view/117/55/

Last edited by iamalwaysin on Fri Oct 26, 2007 6:46 pm; edited 1 time in total

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787180
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03-Nov-2007 09:47

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Asia No 1 carboncredit developer ..has hope???

PPle don't want to wait 3 to 5 mths..but for value investing don't bother about this..RTO is likley to succeed as these involve Singapore cos not PRC..Oculus instantly become profitable with 20mil qnd 30mil for Fy 08 and Fy 09 respectively...previously also tested high at 45.5cts in June before July-Aug it was sold down heavily to a low of 15cts but within 2 weeks it spring bk to 25 to 33cts...the swiftness it bounced back is an assuring sign..in fact I collected a lot during its downtrend ..hence see my thread it'll cross 33cts otherwise rights issue aborted..Oculus doesn't even need the rights issue money(gd news right issue cancelled recently) and the American Fund mgr is providing 100mil free interest loan speaks well og co's potential.hence the $600mil to be financed by issuing wholly Oculus shares
at 50cts is justifiable.

2nd fear ppl hve is its parent Global Ariel has tumbled 60% to about 16cts after its RTO by injecting a China-based concrete business in June this year.But the key here is 2 different animals altogether.Carbon Credit Biz
will be the market Darling for the 21st century esp with global warming will be giving najor emphasis by all industralised countries.Those not familiar of course sold out but this time is to collect at cheap prices but likel the renowned Warren Bufftet he doesn't worries about fluctations in share prices-for this U need patience and holding power.Of courese everybody want speculative shares that soar non stop but
these will be brought to their knees if they hve no solid biz to back up.

Although the hydroelectricity powers with PRC cos was aborted but Oculus still provide advisory role..expect more tie-ups but meanwhile the Areate_oculus RTO may bestow 50mil carbon credit to Oculus worth $1 > billions...this kind of enviromental firm is likley to attract American -European fund mangers when Oculus got relisted..but everything has a price..the price U pay is for the wait(3 to 5 mths) Hyper

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787180
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29-Oct-2007 10:54

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Oculus destines for Success

Quote:

Originally Posted by kovan

An interesting article taken from the Edge:

Quote:

Low Shiong Jin and his associates at Ariel Singapore are trying to transform small, moribund listed companies through RTOs of businesses spanning energy, healthcare and satellite communications. Are they white knights or corporate raiders? And, will investors who jump on the stocks linked to them make money?

Low Shiong Jin didn't display a hint of nervousness or uncertainty as he walked to the podium to address a lively crowd of investors and reporters who had packed a conference room at the Fullerton Hotel two weeks ago to hear about the audacious corporate deal he had organised for Oculus Ltd.

The once dull contact lens maker is going to pay $600 million through the issue of new shares to acquire a much larger, privately held enterprise called Aretae Pte Ltd. Aretae develops environmentally friendly projects that yield carbon credits, which it plans to manage and monetise.

"The new business injection will help create very significant shareholder value and attract more institutional [investor] interest to the company," Low told the room.

Loquacious and immaculately dressed, the 38-year-old Low casts himself as a corporate saviour of sorts. He was appointed to the board of Oculus in June, after a group of investors he represents bought a 29 % interest in it, and has been trying to refashion it into a much more exciting company. He plans to do this through a reverse takeover (RTO) deal - that is, a large acquisition satisfied by the issue of new shares that results in the emergence of a new controlling shareholder.

After a four-year bull market that has the Straits Times Index flirting with the 4,000 mark and investors in the mood to gamble on the fate of corporate shells like Oculus, RTOs have become an increasingly common means for a business to list and raise money from public investors.

"Clearly, there is a segment of the investing public that finds these transactions interesting," says a corporate finance executive. "After all, some of them have performed very well. Wilmar [International] is one such example." Originally known as Ezyhealth Asia Pacific, the dotcom flameout acquired a slew of palm oil plantation, refining and trading assets in a $1.29 billion deal in June last year, sending its shares on a dream run. They touched a fresh peak of $4.34 on Oct 19.

Low hasn't done anything quite as significant yet. Relatively unknown in corporate and financial market circles until recently, his only real achievement so far is resurrecting Ho Wah Genting (now renamed Global Ariel), a bankrupt engineering firm, by orchestrating the $115 million acquisition of a China-based concrete maker. But he might soon have several more completed deals under his belt. Low and his associates, currently hold significant stakes in at least three listed companies, which they plan to use as RTO vehicles. The most closely watched of these at the moment is Oculus. And, the outcome of its proposed acquisition of Aretae could go a long way in shaping Low's reputation in the world of corporate wheeling and dealing.

Getting into carbon credits

Much depends on whether Aretae lives up to the expectations that Low has stoked up in the market. Aretae was set up in 1996 by a bright, young man named David Leong, who initially used it as a vehicle to operate his Internet and wireless communications consulting business. In the course of his career, Leong had worked at SingTel and China Mobile and had been a branding consultant for companies like Ajinomoto, Japan Airlines and Deloitte Consulting. At its peak, Aretae claimed that its consulting business employed more than 200 people and had offices in Hong Kong, Taiwan and Malaysia.

As the Internet mania years passed, however, giving way to the era of global warming and green technology plays, Leong decided that his company should move with the times. Two years ago, Aretae merged with another privately held company called LFGC Corp, which harvests biogases like methane from organic waste dumped in landfills.

And, it took over the assets of Terra Bio Plus Corp, another privately held company that develops composting facilities, which turn waste from plantations into fertiliser and energy. With those moves, the 37-year-oId Leongwho remains the chairman of Aretae, has transformed his company into a developer of projects that help reduce greenhouse gas emissions.
And, he appears to have assembled a team of individuals with the ability and experience to grow its new business. Among Aretae's shareholders and directors now is Stephen Lee, who was a director at LFGC and principal engineer at Terra Bio Plus. Aretae's CEO is 49-year-old Low Chin Nam, who started his career in the Singapore government's elite Administrative Service before moving to the private sector. He worked at Keppel Telecommunications & Transportation from 1990 to 1995, and was C00 of Mobile0ne, the smallest of Singapore's three mobile phone companies, between 1995 and 1998. He later worked at an Australian unit of Digiland International, a small Singapore-listed company that, interestingly, is now considering acquiring new assets in an RTO deal too.

Leong and his associates at Aretae say the company currently has a portfolio of over 30 projects ranging from composting plants to biomass electricity generation facilities scattered across Malaysia, Indonesia, Vietnam, China and Singapore. All in, Aretae expects these environmentally friendly projects to generate an aggregate total of 50 million tonnes of carbon credits.

Under the EU Emission Trading Scheme, spawned by the Kyoto Protocol that seeks to reduce greenhouse gas emissions, companies operating in certain industries in Europe will need to pay a fine or purchase carbon credits generated by environmentally friendly projects like the ones Aretae is developing if their carbon e missions exceed their allowances.The market price for these carbon credits is currently hovering at ?17 or $35 per tonne, and Aretae's backers are hoping that they will scale higher next year once the restrictions on carbon emissions in Europe come into effect.
On the face of it, Aretae's 50 million tonnes of carbon credits would have a potential market value of $1.75 billion. But officials at Aretae warn that it is more complicated than that. For starters, only five of Aretae's more than 30 projects have been fully registered so far. Furthermore, the company has a varied financial involvement in each project, and revenue from the sale of the carbon credits is sometimes shared with its project partners. "We should not just do simple math to place a value," says Tan Teik Chin, a director of Aretae. A more likely value for the carbon credits that Aretae stands to reap from its projects is $800 million to $1 billion, he adds.

RTOs versus IPOs

Oculus plans to acquire Aretae by issuing 1.2 billion new shares priced at 50 cents each to its vendors. Under the terms of the RTO, Leong and the other vendors of Aretae will hold a stake of no less than two-thirds of Oculus' enlarged share capital. They expect Aretae to achieve an earnings before interest, taxes, depreciation and amortisation (Ebitda) of $20 million next year, and $30 million in 2009. And, if the RTO deal goes ahead, they will provide Oculus with a guarantee that its aggregate Ebitda during the two years will be at least $50 million, failing which a proportionate number of their shares in Oculus will be cancelled.

Other key aspects of the RTO are that Oculus will also issue 12 million new shares to a privately held company called BFI Consultancy as payment of an introducer's fee. And, further down the road, Oculus plans to raise $100 million in cash to fund Aretae's expansion.

RTO deals are commonly thought to be a faster, cheaper and easier means of getting listing compared with a straightforward public offering of shares. But corporate finance professionals as well as regulators say this is not entirely true.

According to Lawrence Wong, executive vice-president and head of listings of the Singapore Exchange, there is little difference between the two approaches to getting listed. "There is no [difference] in disclosure between the two. It's exactly the same. It takes about the same time as well - about three to four months. So, not counting the time taken to do your homework on a company for an RTO, or preparing for your IPO, RTOs are not really faster than IPOs."

In fact, officials at Aretae say they had considered a public offering of shares in London, where there is strong investor interest in the kind of business it operates. But they really saw their future in Asia, and wanted their company to be listed close to where it operates its business. "There is potential in listing here, because you have the two biggest carbon generators in the world - China and India - nearby," says Leong. "Being here is an advantage as there are no comparable competitors, and Asia itself will be a big carbon credit generator."

The problem is that investors in Singapore are not familiar with the carbon credits business at the moment, and may be less receptive to a public offering of shares than investors in London. "Frankly, the knowledge of carbon credits in the market here is very low," says Tan. It doesn't help that Aretae's carbon credits business has no earnings track record. According to Leong, the company doesn't expect to make any money until next year, when tighter rules on carbon emissions in Europe kick in. "We are in a land grab situation with our competitors to get as much as we can before g period begins," he adds.

However, for investors in a listed shell like Oculus, the risks associated with Aretae are all relative. Under the RT0 deal, the new shares priced at 50 cents each that Aretae's vendors will receive values their company at $600 million. But the 50 cents per share value also values the shell that investors in Oculus currently own at an impressive $120.7 million. That's a nice incentive for agreeing to participate in the RTO. Indeed, a key advantage of an RTO is that the company seeking a listing obtains an "instant shareholding spread" without having to completely convince the market of the future prospects of its business, says one corporate finance executive.

Shares in Oculus traded at just nine cents before Low and his backers acquired control and began shopping it around as a shell. Following that, the stock was buffeted between 15 and 43 cents as the market waited for an RTO deal of exactly the sort that has been announced. While investors might think twice about forking out cash for an unfamiliar company like Aretae, they are less likely to object to a listed shell they own issuing shares at a stiff premium to acquire it.

White Knight or Corporate Raider?

Low began his carrer as an auditor at a local accounting firm called RSM Chio Lim, before moving to optical disc replication company Datapulse, where he spent eight years as a finance manager. But what he really wanted to do waas to get involved in corporate finance deals like mergers and acquisitions. "I love M&As," Low tells The Edge Singapore. "When I was at university, I did a lot of my research on M&As.

Low got what he wished for through Mike Lee, an old friend of Low's family. Lee had spent most of his life working for SUTL corp, a privately held corporate group in business spanning hotels, property and the distribution of tobacco, fragrances and liquor, which was founded by the late tycoon Tay Choon Hye. Following Tay's death in 2002, Lee went to work for the Global Ariel group, another privately held clutch of companies controlled by Tay's youngest son Andrew, which owns several pieces of the Tay family's corporate empire.

Lee saw opportunity in taking over small, moribund public listed companies and injecting them with more exciting assets, and he figured that Low would be just the man for the job. "Mike is like an uncle to me," Low says. In 2004, Low joined Ariel Singapore, a unit within the Global Ariel group that Low and Lee use to buy controlling interests in their target companies before restructuring them. "Our objective is to act as a white knight for these companies and make them profitable," Low says.

However, Low's deals haven't always gone smoothly, and he sometimes appears to be more a corporate raider than a white knight. In the case of Oculus questions, are already being asked about Aretae's $600 million price tag, after it emerged last week that a key shareholder of Aretae also owns shares in Oculus. According to press reports, Tan owns more than 36% of Aretae, besides being a director of the company. And he also owns shares in Oculus. This crucial detail was not initially disclosed by officials at Oculus in its filing to the SGX. It now has some market watches worried about conflict of interest issues clouding the proposed acqusition of Aretae.

The RTO of Aretae is actually Low's second attempt at restructuring Oculus. In June, Low tried to inject a China-based company called Hunan Zhangjiajie Chalinhe Electric Power Co, which owned hydroelectric power plants and a nine sq km piece of land, into the shell. However, the price tag of $60.5 million was to be paid to the vendors in cash that Oculus would largely have had to raise from bank borrowings. And, a substantial arrangement fee of $40.2 million was to have been paid to a Canadian businessman Cheung Cho Ching through an issue of new shares that would have left him with 29.7 % control of the enlarged company. The deal didn't fly. But Low says he's still in touch with the vendors of the hydropower assets, and is mulling future deals with them.

Low is now also facing a feisty challenge from the board of SNF Corp, his latest target. As of last week, Low and his associates had amassed a more than 18 % stake in the barely profitable electronics company that has been the subject of investigations by the Commercial Affairs Department, and have been pushing for board representation. Things came to a head on Oct 11 when SNF's board of directors received a letter from Ariel Singapore and Low demanding that they resign voluntarily by noon on Oct 15, failing which a shareholders' meeting would be called to remove them. Quoting unnamed sources, the Business Times reported on Oct 12 that the new investors in SNF had lost faith in the board's ability to create shareholder value.

SNF's board of directors struck back immediately. In a blistering response to the Business Times story and the letter from Ariel and Low, they pointed out that the interlopers had managed to build up their sizeable holding in SNF and lose faith in the board's ability to create value within a space of just 2^1/2 weeks. SNF then announced that it was placing out 31.5 million new shares to 18 private investors at 16 cents each, or a total of $5 million. The new shares represent almost 20% of the company's existing share base. "They are trying to dilute me out," says Low.

Undeterred, Ariel Singapore has filed an injunction to invalidate the share placement. And, Low continues to insists that investors in SNF will be better off if he is allowed to get in the driver's seat. "There are deals that I could have gotten for them, but I was not appointed [to the board]," he says. "I need to be on the inside to see what is going on before I can structure these deals for them. And, I need an executive position for that." Low had initially wanted to inject a gold mine from China into SNF, but now says that he wants to turn the company into a healthcare play.

For its part, SNF has issued a statement expressing its intention to "vigorously" resist Ariel Singapore's injunction against its proposed placement of new shares. The case has been adjourned until November. But Low says that he is pressing for a shareholders' meeting to be called before then to boot the directors out. It is unclear if he will be able to muster the support of SNF's other shareholders for this. But shares in SNF, which soared when Ariel Singapore and Low began buying, have continued creeping higher over the past week. That seems to suggest that the market believes SNF is set to become an RTO vehicle, one way or another. Officials at SNF decline comment for this story.

So, should investors bet on Ariel Singapore and Low? There is little doubt that they are slowly developing a reputation for being able to bring exciting assets and deals to the table. In fact, even as Low works on turning Oculus into a global warming play and SNF into a healthcare stock, he and his associates are already thinking about creating a mobile telecommunications services and satellite technology company out of Enzer Corp.

Ariel Singapore and its associates have accumulated a 24.2% stake in the small electronics company, and Low's mentor Lee was appointed to its board in September. Much like Oculus and SNF, shares in Enzer have soared since Low and his associates arrived on the scene. The counter was hovering at 32 cents last week, a 220% increase from just 10 cents in June.

In the longer term, however, investors face the risk of RTO vehicles not living up to the tremendous hype that is built up initially. Indeed, shares in Global Ariel have gone into a long slide after the injection of the China-based concrete business was completed. Since being relisted in June this year, shares in Global Ariel have tumbled 60% to 16 cents last week. "RTOs do give more visibility, but as a result, investors will expect you to deliver more quickly," says one corporate finance executive.

Back at the Fullerton Hotel, as Low and the officials from Aretae mingled with investors and the press, nobody seemed too concerned about the longer-term risks. Instead, their attention was firmly trained on more immediate matters - specifically, whether the proposed acquisition of Aretae would drive shares in Oculus higher, and the appetising buffet lunch that awaited them.

Even b4 the paper raise doubts ab conflict of interest...this happens quite often..see Dr Soh of Jade who is owns about 30% of the Russian co to provide futures oil contract trading..Dr soh is sitting on board of both cos and he merely abstain from voting and resolution was passed on 31 Aug 2007..gd chance to accumulate esp in the CPF and RTO between 2 local cos is liklet to be genuine and in the interest of shareholders of Oculus..unlilely to be those kind of contracts with Rowsley and/or Banjoo deal with PRU cos.
The problem is investors are impatient and just want the sh price of Oculus to soar..the longer it consolidates the better as the small paid up capital of 180mil and free flaot is about 80mil in the market only and come near the date for it to be relisted on Mainboard the 50cts is definitely achievable and at least 60cts when relisted with new name Areate Ltd-Asia No1 Carbon Credit Developer
reply toR0125per...RTO between Oculus and Areate is arrived at a willing buyer/seller situation beneficial for both cos..Oculus is basically a shelf co after disposing of its optical biz nad Areate instead of the costly and lengthy ipo opt instead to list vis backdoor...

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787180
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25-Oct-2007 15:14

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Oculus down or unchanged on so low vol. today ....shd be well supported.Very easy the directors just abstain from voting since they hve interest in both cos...Dr Soh Of Jade has acquired or planned joint ventures with his subsidiary or associate cos..he always abstain from voting and let sh holders decide to be fair,the RTO is definitely beneficial for Oculus with guaranteed profit of about $20 and $30mil respectively for FY 2008 anf FY 2009

treat like FD buy at 33cts and b4 suspension likley will be push to near or even more than 50cts..same scenario as ChinaTranscom RTO and pte placement ab 58cts and last traded 61.5cts and relisted on 8 Oct as China auto electronics traded between 67 to 81cts.Likewise Oculus shd it hit 50cts or 60cts yr % gain will be 52% and 82% respectively.

Unlikley relisted as Asia's no 1 Carbon Credit developer with 50mil tradable credits worth>S$1 billion and still <50cts.This takeover of domestic co Areate Ltd is likley to go through as I don't forsee any objections by rational investors otherwise Oculus may be delisted as it has no major biz on hand after selling its opitcal biz for $5mil

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787180
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25-Oct-2007 14:53

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low vol ..reluctance to sell...support is at this level..unlikley to go further down..most contra or weak ones shd be fully out..now

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macuser
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25-Oct-2007 11:48

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i think i might not want to hold this shares anymore...

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fsl123
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25-Oct-2007 10:55

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Till now the traded volume is so low. Is it affected by this news ?

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787180
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25-Oct-2007 08:42

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quote="sporeguy"]Today's Straits Times indicated that both Oculus and Aretae have the same director and that Oculus might have paid too high a price for the RTO[/quote]..possible..the directors involved hve to abstained from voting...Dr Soh from Jade also cross acquire his related cos but abstain from voting

RTO is on a domestic co not like Banjoo..related with PRC no guarantee ..can be terminated according to their whims and fancies...unless there is an adverse change in circumstances for offeror and offeree or major sh holders object which is unlikely as Oculus after selling optical biz has nothing left..the carbon emission is the"in-thing' for 21st Century...environmental concern..under the Treaty signed btw many industralised countries

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787180
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24-Oct-2007 09:50

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well done 35.5-36cts now ..looks like 33cts is a strong support level..by today most contra players shd be up since it was unhalted on last tue 16 Oct..expect . upward movement towards 40cts soon

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787180
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23-Oct-2007 23:39

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Oculus 50mil carbon credit from Areate is already worth >S$ 1 billion.RTO is likley to succeed eas takeover co is a S'pore co and not some arcance MOU signed in PRC where it can be cancelled according to whims and fancies..rest assured no shareholders of Oculus will reject this RTO..the only catch we hve to wait patiently..bros & sis..treat it as forgoing your miserable bank interest and earn good returns about 82% (60cts -33cts) divided by 33cts...hence still cheap..say at conservative 50cts..return is 52% (50-33)divided by 33

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787180
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23-Oct-2007 10:25

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Posted: Tue Oct 23, 2007 10:09 am Post subject:

Oculus will be like China Transcom in RTO now known as China Auto Electronics last traded at a 62cts and when relisted it is now 70-70.5cts with a high of 81cts. Likely Oculus now at 33-33.5 may creep slowly towards 50cts,the price used to fund its acquisition of Areate Ltd and when relisted(hve to wait patiently at least 3 to 5 mths ) when listed easily at 60cts,to compensate U for the wait...not really..will e a new entity on mainboard with guaranteed profit of 20mil and 30mil for FY 2008 and FY 2009 respectively.Got no patient to wait it's best to carry using your CPF funds

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