Lion Teck Chiang

Is it true? Heard that at the AGM today *or was it yesterday, Mano and other minority shareholders outvoted the LTC proxies on the resolution regarding dividend. Mano & company were unhappy with the 1-cent div and they actually defeated the resolution. U know lah what happened next: the chairman said like that ah, I want a count by poll.  Mano said dont like that lah, that's not the spirit. When the chairman shook his head, Mano started to walk out of the AGM. Others also ... but first they collected their lunch pack. The mood of the meeting just went sour after that.

This one is far more garang.


BT report:

AS S i2i's chairman Bhupendra Kumar Modi struggled to explain to shareholders yesterday how his company had incurred US$188 million in losses - "In my life, I've never seen so many losses," he said - the annual general meeting was rife with shareholder jibes at his billionaire status and trademark hat.
Even so, the humour barely covered the undercurrent of anger over the company's recent performance. The US$188 million loss was incurred over a 15-month period ending June 30, even with a trebling in revenue to US$1 billion.
Shareholders took Dr Modi and chief executive officer Hasanand Nanani to task for the firm's outsized losses, handset inventory liquidation and the mega writedowns of regional acquisitions that had turned out to be duds.
The company, which had undergone two rounds of rights issues in less than a year - once at 10 cents a share and later at 5.5 cents a share - has plumbed new depths in recent months, closing at 2.5 cents yesterday.

Masterplan 2013 is coming up, perhaps in a few months time. Maybe Fortune will smile on LTC shareholders. Keep watch

This morning, I passed by Lion Building . It's very prominent and can be seen from opposite side of the road, at Macpherson MRT. Very close proximity to the Mrt station. Superb location

I got interested and found this picture. Very few pix on Internet of this asset. looks like it has seen better days. Could have been built in the 60s or 70s. So the land is really valuable and was bought dirt cheap.

Lion Teck Chiang is one of the boring stocks, the neglected stocks, the shunned stocks, that give investors the greatest upside.
Reasons are: Shares at 63 plus cents, NAV at $1.32 given safe margin of downside. Company is profitable and trading at about 5 PE. It's property, Lion Building which is near Paya Lebar MRT Station may soon come under Masterplan 2013.
Investors who are patient enought need to wait for LTC to unlock the valves of the company.