It went upto $2.50 in Oct 2007. SGX, no more S-Chip IPO please as local investors have suffered enough.. Shareholders will have to accept the 18.6 cts offer , otherwise share price can go below 10 cts. In comparison, the CAH offer of 30 cts is really generous.
It's a fool to accept the management's offer of 18.6 cents. The IPO price was 54 cents in 2006 and now its NAV is 46 cents. The management is taking advantage of the poor market condition of S-chip, and doesn't offer a fair value to delist the company, they just don't care about the investors loyalty all these years. Such an exit offer is shameful, it only displaces an attitude of a big bully in the market place SGX.. Independent valuers needed...
Only good companies delist because the owners know the true value of the company, the "good news" of delisting certainly helps to lift the sentiments of s-chips.
Dear Forummers,
I have accumulated a portion of Synear and intends to buy more in the coming weeks / months.
Their latest set of results contradicts the market survey that I have done in Hong Kong / China. While the financials are showing declining sales and profit margins, you will be surprised to find Synear products selling well in Hong Kong supermarkets like Wellcome and Park N Shop.
In Guangdong, the feedback has also been positive.
Will keep monitoring this stock.
NextInsight
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