InvestIdeas

Not vested

MALAYSIA SMELTING CORP - Tin firm Malaysia Smelting Corp said it has raised net proceeds of about S$40.1 million by selling 25 million shares at S$1.75 each through a secondary listing on the Singapore exchange.

The firm, which is listed on Malaysia's stock exchange, will begin trade in Singapore on Thursday.

Source: Reuters

Not vested. From Lim & Tan:-

The dismal debut by MSC yesterday is not good news for SGX.

MSC’s share price may have closed 3 cents above the IPO price of $1.75, the price in KL was dragged down 21 sen or 4.4% to M$4.60, which translates to S$1.92.

Fact is, the “ingredients” for a “better” showing are all there:
1) tin is at a record high;
2) MSC’s parent Straits Trading is an old blue-chip name.

MSC would be the first Malaysian company to seek dual listing here, and the debut is unlikely to spur other Malaysian companies to follow the lead. And one would have thought Malaysian companies would be natural candidates to look south for better
valuation.

Not vested

Malaysia Smelting may be in focus after it said over the weekend it has signed a confidential agreement with the government of the Democratic Republic of Congo that is related to the possible exploration and development of tin mines in the African country.

Source: Reuters

I have been tracking this ticker since its listing in Jan. 2 directors bought shares just b4 this disclosure.

This ticker is up 4% . I wonder how many investors read its fin statements on impairments of its investment in a NZ-registered company who has mining rights in Vietnam. It turned out to be a total write-off in the order of millions of $$. Mining in Congo is riskier.

It is up 10% since Winston's post on Monday .

It is returning to its IPO price soon