Remisier kings
The cousins who have taken over Peter Lim’s throne View PDF
Popular posts from this blog
Ex-bank owner Agus Anwar declared bankrupt
Prominent former bank owner Agus Anwar was yesterday declared bankrupt by the High Court.
Two ex-UOBKH staff charged with lying to MAS over due diligence reports on a Catalist aspirant
TWO former senior employees of UOB Kay Hian Private Limited (UOBKH) were charged on Wednesday for allegedly lying to the Monetary Authority of Singapore (MAS) in relation to reports on a then Catalist aspirant. Lan Kang Ming, 38, and Wee Toon Lee, 34, each face three charges of providing MAS with false information in October 2018 in relation to due diligence reports on an unidentified company applying to list on the Catalist board of the Singapore Exchange. MAS said in a media statement on Wednesday that it was performing an onsite inspection of UOBKH between June and August 2018, to assess the latter's controls, policies and procedures in relation to its role as an issue manager for Initial Public Offering (IPOs). During the examination, Lan and Wee were said to have provided different versions of a due diligence report relating to background checks on a company applying to be listed on the Catalist board of the Singapore Exchange. UOBKH had acted as the issue manager
Comments
Mindy Tan
25 September 2014
Sino Construction Limited intends to make an off-market takeover bid for Australian-listed Guildford Coal (GUF).
The takeover bid will be made at a bid price of A$0.0613 (approximately S$0.069) per GUF share. The consideration will be satisfied via an allotment and issue of one new ordinary share in Sino Construction for every 4.5 GUF Shares. Based on the issued and paid-up share capital of GUF, up to 229,639,650 new shares may be issued as the consideration for the takeover bid.
This takeover bid follows the group entering non-binding terms with GUF to acquire all of the latter’s portfolio of coal assets in Australia for a total consideration of US$25 million and a payment of ongoing royalty. The management of Sino Construction is now of the view that it is more advantageous to acquire all of GUF’s assets, including its coal producing assets in Mongolia, said Sino Construction on Thursday.
Separately, the group is proposing to change its name to “Magnum Strategic Resources Limited” to better reflect the group’s new strategy and scope of operations in the future.