The prices are OK if one has been tracking the coal coke prices.. The margins are awfully thin.. Coming out with a small gross profit is really good...
dompeilee FINALLY! I'm clear in capital gain after buying high @ $3.3675 on 3rd Feb '17! =) 04/06/2019 10:32 AM
Dont talk like so pro la.u urself stuck in canone for 2 years but diam diam there.hahahahahaa.we all know u are just a ball-less kukujiao guy behind a computer.go make some sandwiches in the kitchen
This qtr results, despite incurring losses, generated strong cash flow as a result of the high trade receivables, which should augurs well for its business.
Sino Hua-An to issue RM150m in redeemable convertible notes to fund business expansion Arjuna Chandran Shankar / theedgemarkets.com
June 14, 2019 20:30 pm +08
-A+A KUALA LUMPUR (June 14): Sino Hua-An International Bhd is proposing to issue RM150 million worth of redeemable convertible medium-term notes in order to fund business expansion measures.
In a bourse filing, the group said it has entered into a conditional subscription agreement with Advance Opportunities Fund, in which Tan Choon Wee is the principal shareholder and sole director.
Each tranche will contain RM50 million in notes. However, for the first two tranches, there will be 10 subtranches worth RM5 million each — with the third tranche having 5 sub tranches worth RM10 million.
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fullscreen The notes will mature within the first 36 months from the closing date of the first sub-tranche of the note’s first tranche.
Of the RM150 million expected to be raised, RM27 million will be utilised within three years, and is earmarked for business expansion and working capital purposes for subsidiary TouchPoint International Sdn Bhd. Another subsidiary Wavetree PLT will receive RM25 million — to be utilised within three years.
Furthermore, Bistromalones (PJ) Sdn Bhd in Malaysia has been allocated RM40 million to fund business expansion and working capital.
An additional RM22 million will go towards the subsidiary’s business expansion and working capital in China — with both allocations to be satisfied within three years.
SHIB has earmarked RM26.2 million as working capital for its core business, which is to be utilised within three years as well.
Meanwhile, the group will use RM1.6 million, to be used within one month, to defray expenses such as professional fees.
Another RM8.2 million is portioned out for the redemption or implementation of the notes, which is to be utilised within three years.
The conversion price for the notes is 18 sen apiece — representing a discount of 15%, 12% and 10% respectively for Tranches 1,2 and 3.
Metallurgical coke manufacturer Sino Hua-An International Bhd is planning to diversify into the food and beverage and mobile app segments by acquiring two companies for a total of RM14 million cash.
The red-chip company had signed a share purchase agreement with Chaswood Resources Sdn Bhd (CRSB), which owns TGI Friday in Malaysia and Teh Tarik Place, to acquire the entire stake in Bistromalones (PJ) Sdn Bhd for RM8 million.
Sino Hua-An also signed a sale and purchase agreement with Wavetree PLT, Ng Chee Seng and Cindy Wong Ling Ping to purchase the business and asset building, plus intellectual property rights owned by Wavetree — an internet of things technology solutions provider — for RM6 million.
NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING SINO HUA-AN INTERNATIONAL BERHAD ("SHIB" OR THE "COMPANY") PROPOSED ISSUANCE OF REDEEMABLE CONVERTIBLE MEDIUM TERM NOTES WITH AN AGGREGATE PRINCIPAL AMOUNT OF UP TO RM150 MILLION ("PROPOSED NOTES ISSUE") SINO HUA-AN INTERNATIONAL BERHAD
Type Announcement Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) FUND RAISING Description SINO HUA-AN INTERNATIONAL BERHAD ("SHIB" OR THE "COMPANY")
PROPOSED ISSUANCE OF REDEEMABLE CONVERTIBLE MEDIUM TERM NOTES WITH AN AGGREGATE PRINCIPAL AMOUNT OF UP TO RM150 MILLION ("PROPOSED NOTES ISSUE")
Sino Hua-An International Bhd is to issue RM150 million in redeemable convertible medium-term notes to fund business expansion measures. Advance Opportunities Fund, where Tan Choon Wee is principal shareholder and sole director will subscribe to the notes.
The notes will be doled out in three tranches — with all three containing RM50 million in notes. For the first two tranches, there will be 10 subtranches worth RM5 million each — the third tranche will have five sub tranches worth RM10 million. The notes are to mature within the first 36 months from the closing date of the first sub-tranche of the note’s first trance
Sino Hua-An International Bhd is to issue RM150 million in redeemable convertible medium-term notes to fund business expansion measures. Advance Opportunities Fund, where Tan Choon Wee is principal shareholder and sole director will subscribe to the notes.
The notes will be doled out in three tranches — with all three containing RM50 million in notes. For the first two tranches, there will be 10 subtranches worth RM5 million each — the third tranche will have five sub tranches worth RM10 million. The notes are to mature within the first 36 months from the closing date of the first sub-tranche of the note’s first trance
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Posted by Bursa1575 > 2019-05-27 09:38 | Report Abuse
Aiyooo sinking now