S i2i ( former Mediaring )

Re: Mediaring

Postby kennynah » Fri Apr 30, 2010 7:12 pm

ask AirBus and she will also tell us that she is very confident about air travel business.... the only difference is AirBus sells her products to just about every country in this world... and Mediaring? I dono man.... :D

in simple words... knowing what is needed doesn't mean one can satisfy that need well....
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Re: Mediaring

Postby millionairemind » Fri Apr 30, 2010 7:22 pm

kennynah wrote:ask AirBus and she will also tell us that she is very confident about air travel business.... the only difference is AirBus sells her products to just about every country in this world... and Mediaring? I dono man.... :D

in simple words... knowing what is needed doesn't mean one can satisfy that need well....

:mrgreen: :mrgreen:

Never ask a barber if you need a haircut. :D
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Re: Mediaring

Postby tonylim » Fri Apr 30, 2010 7:37 pm

Talk is always cheap,words are always free.
They have to show result and possitive bottomline.
Just have to wait and see.
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Re: Mediaring

Postby millionairemind » Fri Jun 18, 2010 6:39 am

Published June 18, 2010

Spice i2i to raise $133m in rights issue


By FELDA CHAY

INTERNET telephony services provider Spice i2i - formerly known as MediaRing - has proposed a rights issue to raise net proceeds of some $133 million.

It intends to issue up to 1.37 billion new ordinary shares at 10 cents apiece.

It intends to issue up to 1.37 billion new ordinary shares at 10 cents apiece.

Money raised from the one-for-one renounceable rights issue are targeted for use as working capital and capital expenditure requirements for future expansion and for funding of future acquisitions.

MediaRing took on its current identity after a deal with India's Spice Group, a telecoms and entertainment conglomerate owned by flamboyant billionaire Bhupendra Kumar Modi.

In August last year, Spice Group forked out $60 million for a 20 per cent stake, making it the single largest shareholder.

Three shareholders - Spice Innovative, Spice Global and Spice Bulls - which have a combined direct and indirect stake of 20.32 per cent, have undertaken to subscribe fully for their rights entitlements.

Spice i2i has appointed DBS Bank as manager and underwriter for the rights issue.

Since Spice Group took control of MediaRing, the renamed Spice i2i has been restructured and bought two Indian companies - a call centre and an IT services firm - for US$2 million.

In May, Spice i2i said it lost US$411,000 in the first quarter ended March 31, despite a 40.8 per cent increase in sales to US$42.1 million from US$29.9 million a year back. It made US$245,000 in Q1 last year.

Spice i2i shares closed one cent lower at 19.5 cents yesterday.
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

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Re: Mediaring

Postby tonylim » Sat Jul 24, 2010 11:46 pm

This service seems more value added ?

http://www.s-unno.com/
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Spice i2i ( f.k.a. Mediaring )

Postby tonylim » Mon Nov 15, 2010 10:10 pm

Business Times

November 15, 2010, 7.04 pm (Singapore time)

Spice i2i returns to the black for Q3

By ANGELA TAN


Spice i2i has returned to the black for the third quarter ended September 30, 2010.


The group, led by chairman B.K. Modi, reported that turnover for the quarter rose 136.8 per cent to US$65.75 million.

As a result, it generated a net profit of US$2.73 million in the third quarter, a reverse from a net loss of US$2.80 million a year ago.

The higher revenue was mainly due to the sale of mobile handsets amounting to US$40.4 million during the three month period.

It also saw contributions from newly acquired subsidiaries, Spice BPO Services Limited and Bharat IT Services Limited as well as Spice-CSL Pte Ltd.

Spice i2i said it would use the capital injection of US$98 million from the rights issue exercise in August 2010 for expansion and development as well as for funding of acquisitions.

The company's vision and strategy for the future is geared towards mobile internet with a focus on mobile devices, retail and value-added services.
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Re: Spice i2i ( former Mediaring )

Postby winston » Wed Jan 26, 2011 8:28 am

Not vested

SPICE I2I - Telecommunication services firm Spice i2i, formerly MediaRing, said on Tuesday it plans to acquire the cellular business of Indonesia's mobile handset company Affinity Group for $175 million.

Source: Reuters
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Re: Spice i2i ( former Mediaring )

Postby tonylim » Sat Mar 19, 2011 7:38 pm

Published March 19, 2011


By WINSTON CHAI


SPICE I2I'S acquisition spree may have encountered a road bump with investment adviser ISS Proxy Advisory Services coming out to recommend shareholders to vote against its latest buyout plans.

In January, Spicei2i unveiled plans to broaden its regional footprint by acquiring Indonesian handset distributor, Affinity Group, for US$175 million (S$225 million). Along with this acquisition, the firm issued yet another cash call, barely five months after a previous rights issue exercise.

This time around, it announced a one-for-one rights issue to raise gross proceeds of some $151 million to fund future buyouts.

At that time, some retail investors questioned if Spicei2i was overpaying for Affinity Group and ISS is now lending weight to those concerns.

'The total consideration under the proposed acquisition represents a significant premium to the net book value of Affinity Group,' ISS said in a March 17 report.

Illustrating the financial effects of the Affinity buyout, Spicei2i has said that its net tangible asset per share, as at Dec 31, 2009, will drop from 6.52 US cents to a negative 7.01 US cents.

The steep drop in tangible assets was again red-flagged by ISS.

In addition, ISS pointed out that Spicei2i appears to be locking in a maximum net profit of US$5 million from Affinity for FY2011 to 2013 by virtue of a deferred payment structure.

Any change in the control of Spicei2i would accelerate the rate of deferred payments under the deal, ISS highlighted.

In light of these concerns, 'shareholders are recommended to vote against this proposal', it concluded.

Even in the absence of ISS's investment advice, shareholders appear to have signalled their early dissent with regards to Spicei2i's acquisition and rights issue plans.

In the wake of these announcements in January, the firm's shares plunged to a nine-month low of eight cents and the decline continued as the counter closed at six cents yesterday.

Spicei2i is scheduled to hold an extraordinary general meeting on March 29 to vote on its proposed rights issue.


Source: Business times
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Re: Spice i2i ( former Mediaring )

Postby tonylim » Wed Mar 23, 2011 6:53 pm

Copied from CNA forum; The issue has reached Minister for Finance.



CFA wrote:
----- Original Message -----
From: --
To: [email protected]
Cc: [email protected] ; [email protected]
Sent: Monday, March 21, 2011 6:08 PM
Subject: Re: Spice i2i Limited 's right issue and overpaid acqusition in Indonesia


To: Minister of Finance
Attn: Mr. Tharman

Dear Mr. Minister,

Ever since the new management from India took control of Spice i2i Limited, they have been raising funds through right issues and buying over-valued companies in overseas. Please help the retail investors like me to stop them from these deals.
Below is an article published by Business times which is self-explanatory.

Please help us, many thanks.

Regards/Investor






Original Message -----

From: MOF QSM (MOF)
To: --
Cc: MAS Webmaster (MAS)
Sent: Tuesday, March 22, 2011 4:45 PM
Subject: FW: Spice i2i Limited 's right issue and overpaid acqusition in Indonesia




Dear Mr Chan


I refer to your email dated 21 Mar 2011 to Minister Tharman Shanmugaratnam.



As the feedback raised falls under the purview of the Monetary Authority of Singapore (MAS), we are forwarding it to them for their attention and follow-up. Thank you.





Regards

Leela Pokkan (Mdm)
for Quality Service Manager
Ministry of Finance
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S i2i ( former MediaRing )

Postby financecaptain » Mon Nov 05, 2012 7:47 pm

Cannot believe a listed co can make a series of stupid mistakes to report such a large losses.
Something is not right ????
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