| 3 milestones |
| 1997: Listed as China Titanium, a producer of titanium dioxide. 2012: Change of name to Cedar Strategic, with focus on property development April 2015: Stock trading suspended. Investigation into multiple instances of irregular transactions and corporate governance lapses. |
LOOK OUT FOR a return of Cedar Strategic.
On 18 March 2016, it received a response from the Singapore Exchange to its application for re-listing. There are a couple of things to do, and then Cedar Strategic is expected to resume trading. The date is yet to be fixed.
Meanwhile, the March 21 edition of The Edge Singapore weekly had a succinct article on Cedar's recent tumultuous past and how it has cleaned up.
Non-executive chairman Christopher Chong is widely quoted.
 Non-executive chairman Christopher Chong. NextInsight file photo. "We have a sustainable business. We have turned around, despite massive write-offs, into profitability. "The reason to get relisted is so we will not go bankrupt. We can't issue new shares while we are suspended. And we cannot continue operating on borrowed money. In property development, if you don't have a cheap source of capital, you will never be competitive." |
Funds raised will go towards property deals in China and Southeast Asia.
| "This is to show that the first property (acquisition of Daya Bay) was not a fluke. This furthers what we have promised." |
Chong is also hoping to offer services at properties the company controls.
| "We have not yet defined the service but... leasing our properties to third parties and getting rent is not adding value. Buying cheap is a one-off deal. We will make a capital gain. But to make sustainable above-street returns, we need to add a service to this." |
Check out our earlier story: CEDAR STRATEGIC: Trading resumption and dividends ahead
