My prediction is correct in the sense that Kheesan need no cash but LONBIS. The heavy selling of Kheesan shares on Friday (almost 11m shares traded !) confirmed the disposal by the management to encash their shares as the money has been raised in Khessan through ESOS

And the board of Kheesan owes the shareholders an explanation for having to do this ESOS issue at $0.61 per share

because it will show how dire straits Kheesan (or LONBIS) is in need of cash, despite having to take a loss of $0.39 per share issued immediately

If Kheesan has to issued an ESOS with a $0.61 price and take the hit of a -$2,125,000, then it really worries me as a Kheesan's shareholder

Although the sum of $2,125,000 bears little influence in deciding a bonus issue later (some rich bugger like DS Liew who arrive in the media award night in a blistering Rolls Royce JJB9323)(but not sure whether is his, maybe provided by event marketing agency of that function, LOL) may shrug it that it is only a paltry sum

This damps my hope of being a shareholder of Kheesan who are looking forward to a bonus issue in the near future. And I am sad

Lets come back to Kheesan.

If the ESOS is NOT issued at $1.00 and at market price of say $0.61 per share, that mean Kheesan will have to enter a negative share premium of $0.39 per share into the reserve account of the balance sheet. That is -$2,125,500 in the Reserved together with retained earning of Kheesan.

Being a young man, I can see his eyes glows with the limelight from this kind of high life. I don't blame him for enjoying what he likes, but please don't do it with the shareholders money. This kind of spendthrift habits only goes to demote one's reputation

For this, I will spare him the bombarding here by leaving the firing squad to the rightful shareholders of LONBIS, to question why he spend this huge money in a market that LONBIS market share is only less than 5% of total LONBIS revenue

And I don't like the way DS Liew Yew Chong spend LONBIS advertising money in sponsoring MediaCorp TV50 Award http://www.youtube.com/watch?v=GhpaAq_VUxU, although I am not a shareholder of LONBIS

But don't ever try to short change the shareholders of Kheesan, by re-routing the $5,450,000 cash back to LONBISC, as I don't see why Kheesan needs the new fund more than LONBISC which had already chalked up in excess of $200m of loans and capex

If indeed the ESOS is issued at $1.00 per share, then I put my hat off to the Liew's Family for doing a great "charity" to Kheesan

2) The Liew's family is doing a great "charity" to the shareholders of Kheesan by losing $2,125,500

Only 2 cow sense comes in :

1) Kheesan is seriously and grievously in need of fresh cash, as the case of LONBISC had shown (Note : LONBISC owned a direct 32% stake of Kheesan).

Are we to expect that part of this proceeds of $5,450,000 will be finding its way "stealthily" into the bank account of LONBISC?

If my presumption hold true, these 5,450,000 shares must have been taken up by the Liew's family, being the directors and key management staff of Kheesan.

The next question then will be why the Liew's family is willing to take the hit of a $2,125,500 loss (being $0.39 x 5,450,000 shares) ?

This is interesting. The ESOS is issued (at the minimum price of $1.00, being Kheesan's par value). How on earth the employees are taking up the ESOS at a loss of $0.39 per share, considering that the ESOS is at $1.00 and yesterday's closing price is $0.61?

ESOS listing of 5,450,000 shares

spare us please

we know what we are doing, candy girl. Please confine your war with whoever out there in your lii hen thread and leave us alone

ya man, some lowlifes tainting i3

here comes another lowlife

saltedfish, some one lowlife is using your photo.

Pls share the positive news, 1M

Wants to eat salted fish, be prepared to fend off the thirst

typical squeezing exercise to flush out weak holders before a big push

yes true, very strong support levels from 1.38-1.39, since the whole of this week

good entry price 1.38

Posted by wikileaks > May 24, 2014 10:03 PM | Report Abuse 
1.41 is the cheapest you can get, as I will standing steadfastly at 1.40.

so don't dream you can get anything less 1 40

miles apart lah

stock dead. The volume says it all

wow, what a strong run to 1.50 with commendable volume. Surely some fantastic result is forthcoming

If what wikileaks said is to be trusted, that mean we must buy now around 1.37 before the result on 22/5 and can make 15 sen by 31/5.

Posted by wikileaks > May 13, 2014 09:03 PM | Report Abuse

21 or 22 May
Another blockbuster result !

stay away from that carpet trader

Not so good sign

http://www.theedgemalaysia.com/business-news/289545-five-vietnamese-16-others-described-as-chinese-dead-in-vietnam-rioting-doctor.html

No one play

This is still the best shelter in furniture stocks amid the Vietnamese rioting on-going now

Now dead, after only one session ecstasy

These aggressive Vietnamese are plunging their country into a road of no return. Sigh

Anyway, I bought at 50,000 shares at 2.78 today

Look stabilising at this level 2.80-2.82. Of course if another bad news emerge from Vietnam, this may not hold as well.

Why it goes up, anyone?

he asked the question and he answered himself. Funny

haha serve him right

soft throughout the day

Good closing with notable buying at 1.37. Someone is definitely accumulating

Panic selling from the vietnam fiasco.
Be greedy when others are fearful

...but big big buying at 1.31 to 1.35

No panic selling like in Latitud and Pohuat

No more interest?