Posted by AhPek > 2024-05-26 20:34 | Report Abuse

Kuchai at a losing end. Sg Bagan is the biggest gainer.

Posted by Diamond7 > 2024-05-26 21:27 | Report Abuse

Kuchai oso will up...
Together with SBagan n Kluang
All up up together

Lucky
Kuchai get 222 SBagan

Posted by Diamond7 > 2024-05-26 21:29 | Report Abuse

@AhPek
I agree with you
Biggest winner is SBagan
But all the three musketeers will up together with Great Eastern deal
Directly or indirectly all the three musketeers gain big harvest from this deal.

Posted by Zhlim014 > 2024-05-26 21:32 | Report Abuse

Will you all still hold after this huge spike due to it still being undervalued?

Posted by Diamond7 > 2024-05-26 23:35 | Report Abuse

Must look at how much is the special dividend

Posted by dompeilee > 2024-05-27 09:27 | Report Abuse

Great Eastern trading @ S$26.15, 55c or 2% ABOVE offer price. Great thing I'm holding all 3 beneficiaries of OCBC's attempt to sapu insurer cheaply!😊

Posted by Zhlim014 > 2024-05-27 09:49 | Report Abuse

Hope ocbc will up offer in geh

Posted by Diamond7 > 2024-05-27 10:04 | Report Abuse

Great Eastern share holders are given till 31/5 to sign n sell their shares to OCBC

Some minority share holders of OCBC are unhappy....saying that the offer to buy great Eastern is too expensive!

Let's hope that the deal will go through!

Posted by Zhlim014 > 2024-05-27 10:23 | Report Abuse

On the contrary, geh shareholder are very angry as embedded value is 36.59 but ocbc is offering only 25.60

Posted by dompeilee > 2024-05-27 10:48 | Report Abuse

OCBC...so loaded but cheapskate...that's why failed in 2004 & 2006...& will likely fail in 2024 if bid not raised to closer to S$30! Hopefully, both sister cos. will not be swayed by their Lee Rubber affiliations & hold out for a better offer instead of caving in to the $25.60 offer. After all they have held on for the past 50+ years!

Posted by Zhlim014 > 2024-05-27 11:15 | Report Abuse

If accept, the first friday when ocbc table offer, think will have immediately delisted.

Posted by Zhlim014 > 2024-05-27 11:29 | Report Abuse

This is purely my guess

Posted by lionel messi > 2024-05-27 12:12 | Report Abuse

If they don't accept OCBC's offer, the three sisters will go back to sleep for another 50 years. Think everybody is old and tired already. Just accept and move on.

Posted by Zhlim014 > 2024-05-27 12:18 | Report Abuse

https://www.straitstimes.com/business/great-eastern-minority-shareholders-seeking-better-offer-from-ocbc

Posted by Diamond7 > 2024-05-27 15:42 | Report Abuse

Yes
If deal does not go through SBagan will go back to 3.60...

Posted by Diamond7 > 2024-05-27 16:18 | Report Abuse

Mr Wong Hong Sun, whose grandfather was chairman of Great Eastern for close to 20 years, holds more than three million shares. “Even if I am not sentimental, I won’t sell,” he said. “Half price is no way.”

Can the deal go through?
🤞🤞

I pray pray the shareholders will accept the offer n the deal goes through!

Posted by Zhlim014 > 2024-05-27 16:45 | Report Abuse

Dont think will fall to 3.60 ah

Posted by zildjian > 2024-05-27 16:48 | Report Abuse

if sg bagan back to square RM3.600, sailang all and keep for nxt generation

Posted by Ovantage > 2024-05-27 18:46 | Report Abuse

We have till end of June for geh shareholders to decide..at least 28 days from now

Posted by Ovantage > 2024-05-27 18:48 | Report Abuse

Like what I said, if Ocbc can strike a deal with lee Thor seng.. they can compulsory acquire geh shares at that price.. lee Thor is one one the key with 7.733 million geh shares under his control

Posted by Diamond7 > 2024-05-28 18:59 | Report Abuse

Singaporeans very legalistic!

EY the financial adviser will advice !
Chances are...
The deal will go through!

Posted by dompeilee > 2024-05-29 17:35 | Report Abuse

A piece of UNBELIEVABLE LUCK 2day!!! I managed to fortuitously grab 84 units of Sungei Bagan odd lots shortly after I logged in @ 4:10 pm offered for sale @ $4.77, thus saving $136 compared to the lowest price on the board lot mkt!!! SOLD 300 more units of sister Kuchai that roughly represents the no. of SBagan shares that I so fortunately bought @ a huge discount!!!

Posted by Diamond7 > 2024-05-29 18:28 | Report Abuse

@Dompeilee
Congrats!
Happiness!
Good Luck!

Pray pray deal will go through n OCBC will offer a higher price to take over!

Posted by Zhlim014 > 2024-06-08 12:13 | Report Abuse

Definetly not at 25.60. Sg bagan shareholder may benefit from a revised offer of their share instead

Posted by lionel messi > 2024-06-11 09:42 | Report Abuse

Or sell to the market. More than 26 currently.

Posted by lionel messi > 2024-06-14 10:25 | Report Abuse

Decision time is near. Accept or reject?

Posted by Diamond7 > 2024-06-14 22:05 | Report Abuse

OCBC intends to delist GE if the free float requirement of 10 per cent is not met, noted EY in a letter to independent directors that advised them on making recommendations to GE shareholders.

Posted by Diamond7 > 2024-06-14 22:06 | Report Abuse

Toggle navigation


OCBC’s offer to Great Eastern shareholders ‘not fair but reasonable’, shareholders should accept it: EY
Prisca Ang
Business Correspondent
UPDATED JUN 14, 2024, 09:52 PM
FacebookTelegram
SINGAPORE – OCBC’s offer to buy the remaining shares of Great Eastern from minority investors is “not fair but reasonable”, said independent financial adviser Ernst & Young Corporate Finance on June 14.

In a separate statement after EY’s filing to the Singapore Exchange, OCBC said its $25.60 a share offer price is final and will not be increased. The bank also extended the offer’s closing date from June 28 to July 12.

OCBC made a $1.4 billion bid on May 10 to take its insurance arm GE private following recent shareholder unhappiness over falling returns. Its voluntary, unconditional general offer was for the 11.56 per cent stake in GE that it does not own.

Posted by Diamond7 > 2024-06-14 22:07 | Report Abuse

The offer price represented a 36.9 per cent premium over GE’s closing price of $18.70 on May 9. However, it was also 30 per cent lower than the insurer’s $36.59 per share embedded value as at the end of the insurer’s last financial year.

OCBC had received acceptances for 1.74 million GE shares, or 0.37 per cent of the total, as at the end of June 13.

This raises the bank’s stake in GE to 88.8 per cent, and to 89.01 per cent if the number of shares held by OCBC’s concert parties is included. Concert parties refers to a group of investors who buy shares in the same company.

Posted by Zhlim014 > 2024-06-15 14:44 | Report Abuse

Ocbc has to offer a higher price if not cannot delist as offer is unfair but reasonable

Posted by speakup > 2024-06-15 16:13 | Report Abuse

Life is not fair

Posted by lionel messi > 2024-06-18 14:03 | Report Abuse

Think OCBC will easily reach 90% by the July 12 deadline. Game over?

Posted by dompeilee > 2024-06-18 19:00 | Report Abuse

Under SGX rules, using Boustead Projects as an example in '23, even if 90% reached, in order to DELIST the co. the offeror needs to make a FAIR & REASONABLE offer to remaining holders. In Boustead's case, the initial 90c offer was raised to S$1.18 BUT the early acceptances did NOT benefit from the final raised offer.

Posted by Zhlim014 > 2024-06-18 22:17 | Report Abuse

So worst case scenario is $28.80

Posted by Zhlim014 > 2024-06-18 22:17 | Report Abuse

$28.88

Posted by Diamond7 > 2024-06-19 19:13 | Report Abuse

@Dompeilee
Good that SGX has such a rule
Probably it's only a matter of time that the great Eastern shares will all be sold to OCBC.

Let's wait patiently!

Posted by Diamond7 > 2024-06-19 19:14 | Report Abuse

If can be sold at a higher price @zhlim
Would even be better!!!

Posted by zildjian > 2024-06-19 22:57 | Report Abuse

mana tau announce special dividen after deal

Posted by Zhlim014 > 2024-06-19 23:56 | Report Abuse

I also vested as i have some geh shares

Posted by Zhlim014 > 2024-06-19 23:58 | Report Abuse

But this saga may drag longer than expected.

Posted by Zhlim014 > 2024-06-20 12:45 | Report Abuse

We not sure whether ocbc will give that fair and reasonable price on delisting day. If no have, means share suspension

Posted by Zhlim014 > 2024-06-20 19:56 | Report Abuse

Then 6 month later relist back again

Posted by Diamond7 > 2024-06-20 22:25 | Report Abuse

SGX rule very very strict!
Fair n transparent!
They act fast too

Posted by Diamond7 > 2024-06-21 08:20 | Report Abuse

Presently, and mindful of the 10% free-float rule, investors in GEH are concerned that the purchase price on June 19 is at a significant discount to GEH’s embedded value of $37.81 per share in FY2022. This, in turn is 2% lower than FY2021’s $38.57.

Embedded value is the sum of the value of In-Force Business and the value of the adjusted Shareholders’ Funds. The value of the In-Force Business is calculated using cash flow assumptions for future operating experience and are discounted at a risk-adjusted discount rate. The value of the In-Force Business varies from traditional DCF methods to arrive at an NPV because the risk-adjusted discount rate and allowance for the cost of holding statutory reserves for risk are approximates.

The economic value of one year’s new business rose by 7.1% y-o-y in FY2022 to $860.4 million. However, shareholders’ equity fell by 6% to $9,431.4 million.

The closer OCBC’s stake gets to 90%, the stronger the likelihood of compulsory acquisition by OCBC

Posted by dompeilee > 2024-06-22 08:01 | Report Abuse

Many rich are similar to OCBC. They have billions but scrimp & save pennies:

https://www.straitstimes.com/world/europe/members-of-britains-richest-family-get-jail-terms-for-exploiting-indian-staff-at-switzerland-mansion

Posted by Zhlim014 > 2024-06-23 01:51 | Report Abuse

Firstly, even after fair and reasonable, it also have to meet threshold of 75% valid acceptance. Then for compulsory acquisition, is 90% of independent shareholder.

Posted by Diamond7 > 2024-06-24 23:00 | Report Abuse

https://www.theedgesingapore.com/news/ma/great-easterns-free-float-falls-below-10-it-may-need-restore-free-float

Latest news

Posted by Diamond7 > 2024-06-25 08:43 | Report Abuse

INGAPORE - Minority shareholders of Great Eastern (GE) who are holding out for a better exit offer from OCBC Bank may be in for a long wait. How long?

Twenty years or so, if history is anything to go by.

Posted by lionel messi > 2024-06-25 09:34 | Report Abuse

Does the yearly dividend from Great Eastern justifies the holding out for a better offer?

Posted by Zhlim014 > 2024-06-28 02:50 | Report Abuse

As i said, this will be a very long fight