InvestIdeas

Anyone has any idea on why this counter dropped $0.50 (6.92%) in extremely high volume (6m vs 300+K daily) from 3pm on Friday? Can't seem to find any info about it, and there are no company announcements either. Very, very odd.

GR,

Could have something to do with changes to the MSCI component stocks. My broker told me that Golden Agri just got included starting next Monday that is Y it was top volume on Friday.

Hope this helps.

Regards,
MM

Ah, yessir, that looks the most likely. Seems Haw Par drops out as of 2 Jun. So no changes in fundamentals or bad news then. Very good.

Thanks!

Hi g,

I'm surprised that you are looking at this slow counter

Not vested. The following are some notes that I have:-
1) Wee, Cundill and Arnhold have been buying. Please check the SGX website on the latest transactions.
2) Buybacks from company

Not too many houses follow this company.
Target Price from Kim Eng - 9.7 Jun 14 from 7.20 Jul 26

Take care,
Winston

I'm not looking at it... I've already owned it for the past... erm... 10 years?

I've been sitting on stocks owned / run by Old Wee (now young Wee) for a long time. This is the type like Stamford Land, sit and collect dividends until one day, lottery strike.

My SG and US stocks investment/trading profiles are like day and night.

p.s. Until last week, you remember - I was also vested in K1 Ventures - now, talk about "don't move" and "no institutional attention"... BTW, K1 Ventures has a decent stake in MMR, which has been rocketing due to the oil moves. If we do see a more severe correction this week, I might want to pick up K1 again.

So GR you are a BUY AND HOLD TILL I DIE investor in SG mkt and a SUPER DUPER FLIP THEM FRY THEM FOR A PROFIT in US mkt investor?

Wah, talk about flexibility!!! You are The Bomb!

millionairemind wrote:So GR you are a BUY AND HOLD TILL I DIE investor in SG mkt and a SUPER DUPER FLIP THEM FRY THEM FOR A PROFIT in US mkt investor?

Wah, talk about flexibility!!! You are The Bomb!

Flexibility is just a nicer word to describe someone who doesn't know what he wants or believes in.

The great focus;
The good diversify;
The mediocre dabble <-- me.

looking back,

there is a change in the group FC and secretary.

Source: http://info.sgx.com/webcorannc.nsf/0357 ... enDocument

Not vested. From Lim & Tan:-

The possibility of Mr Wee Cho Yaw having to launch a mandatory takeover offer for Haw Par was discussed in the local media this morning. In early trading, Haw Par shares traded to a high of $3.72.

Mr Wee’s total interests, direct and deemed, crossed 30% (after buying 691,000 shares at $3.38) on Dec 5th, but announced on Dec 12th. Haw Par’s share price edged up 4 cents to $3.48 on Monday Dec 15th, trading between $3.44 - $3.50.)

COMMENTS
1. We would rule out a “generous” offer price in the event Mr Wee has to launch a general offer for Haw Par. (Whether he has to should be clear very soon.)

2. (It is however unclear if he has to do so. The “old hand” in investments should know better, unless
crossing the threshold intentionally. The patriarch is Non-Exec Chairman of both Haw Par and UOB, while sons Ee Cheong is CEO of UOB and Ee Lim of Haw Par.)

3. Firstly, look back to 2004 when UOB had offered to sell its stake in UOL to its shareholders (including
the Chairman and his family) at a price that was 17.7% cheaper than what UOL was then trading at.
UOL’s share price fell in response, which set the stage for Temasek to launch its bid.

4. Secondly, his latest purchase was his first in more than 2.5 years; and hence the purchase price would
be the minimum he has to offer. This represents a 60% drop from the 2007 peak of $8.39.

5. Finally, it is unclear if Temasek would still be a “white knight”, although someone else could well emerge
as one. (In May ’03, Oei Hong Leong emerged as a substantial shareholder of Haw Par with the purchase of 247,000 shares at $3.54 each; he ceased to be a substantial shareholder in Sept ’05 with the sale of 935,000 shares at >$5 each.)

6. Despite the above, fact remains Haw Par trades on 59% discount to latest NAV of $8.29, a good
proportion being its investment in UOB, valued at $835 mln. At $3.38, Haw Par’s market is $667 mln.

7. We have long maintained that:
- Haw Par was unlikely to sell its UOB shares;
- Mr Wee unlikely to privatize Haw Par, unless he could get it real cheap.

8. Note that in the event an offer is made, and “fails”, the Wees will be able to increase their stake in Haw
Par by 1% every 6 months.