cheng

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Stocks that are loved will be priced accordingly; Stocks that are hated will tripled tomorrow.
Joined Dec 2017

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cheng replied to comment on GENTING.
Nothing is fixed yet, Vin. Bursa approval, EGM approval and then issue price, entitlement date/price fixing date, etc... If the RI is at 1.30, that means the TERP price is 25% to 30% higher above 1.30 which is around 1.75 to 1.80. And if market price moves to 2.00, that means market is optimistic with the 1.25bil funding probably.
8 hours · translate
cheng replied to comment on GENTING.
Hopefully boss is not trying to increase PACs shareholdings for corporate actions later.
13 hours · translate
cheng replied to comment on GENTING.
Someone will buy the rights sold by shareholders given the 25% to 30% discount. No ownership dilution to the boss, interest free 1.25bil for short term funding, and potentially entry of new substantial shareholder.
13 hours · translate
cheng replied to comment on GENTING.
Another rights issue without selling assets (Miami land, Bimini, Empire, Property, O&G etc) will be a structural funding and capital allocation problem, Vin.
13 hours · translate
cheng replied to comment on GENTING.
RWG, RWS and RWNYC are the ones with moat due to limited competition, Vin. Not for RWLV, UK, Bimini, Plantation, O&G and property as it's competitive.
13 hours · translate
cheng replied to comment on GENTING.
Yeah, Vin. The boss and his family have lots of money and they can just fork out hundreds of mil just like that.
14 hours · translate
cheng replied to comment on ZETRIX.
Only the boss knows why he and his team are leaving in a rush. It's ok for them to leave but some numbers have to be sorted out so that there is a chance to revive the company. New board members, new independent directors as existing ones are not doing anything at all to protect the shareholders and special independent review/audit is necessary to clear the air and convince investors.
14 hours · translate
cheng replied to comment on GENTING.
Full subscriptions basis and 25% to 30% discount from TERP - the boss is going to get the full 1.25bil and someone will buy it given the discount. Existing shareholders decision is kinda transparent as the price difference when price drops to TERP is covered by right shares they received. It's the longer term question - lower nav and dilution due to more shares/new shareholders vs 1.25 bil cash/funding for the short term
15 hours · translate
cheng replied to comment on GENTING.
Yeah, panorama. Hopefully in time to have a look at Q3 performance before the final dates
1 day · translate
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