http://www.flickr.com/photos/caricature/11286999805/

Old news lah..Peter Chen

26-Nov

550_oilrig
Rex International Holding's first oil drilling campaign started this week, on track with the company's expansion schedule. Company photo




REX INTERNATIONAL HOLDING?S first offshore drilling campaign, an event eagerly anticipated by the investment community, has commenced this week, on track with the company's expansion schedule.

250_2dan_brostrom
Executive Chairman Dan Brostrom: "After our IPO, many investors approached us to buy more shares in Rex International.

"As the IPO share allotment had not been fully taken up, we decided on a placement at 75.5 cents, 51% higher than our 50-cent IPO price.

"With the additional monies, we can participate in opportunities that arose after the IPO. We are now well capitalised for our upcoming drilling campaigns."
Photo by Sim Kih
?We are going for the big offshore finds and that programme starts now, with Oman,? said executive chairman Dan Brostrom during an exclusive interview with NextInsight.

Unlike the typical exploration and production (E&P) company that generates income from crude oil production, Rex International intends to sell original oil in the ground and recycle the sale proceeds as capital for stakes in new concessions.

Current prices of original offshore oil in the ground range from US$5 to US$15 per barrel. The Oman prospect being drilled is about 17,000 square kilometers in size. This suggests that Rex International?s effective stake of 41.6% in the Oman concession can fetch a considerable amount.

By the time the Oman first phase test drilling ends this year, the following will be known:
1) If the oil at the Oman well is commercially recoverable
2) What the geophysical structure of the oilwell is

Mr Brostrom estimates that any sale from its Oman concession can only be completed up to a year later, as time is needed for negotiations and proving of oil reserves to and by prospective buyers.

?We intend to have 5 to 7 offshore drilling campaigns next year,? said Mr Brostrom. This could mean a phenomenal FY2015 performance for Rex International when oilwell sale proceeds roll in.

This rate of drilling campaigns is unprecedented among its E&P peers, and is possible only with Rex International?s unique business model.

A typical E&P company spends three to five years in securing a concession, conducting seismic survey, data appraisal and waiting for oilrig deployment before commencing exploratory drilling.

Rex International, on the other hand, has a business model that sidesteps much of this ponderous process.

With the exception of its first offshore concession from the Oman Sultanate, Rex now gains interest in oilfield concessions from concession holders who have already expended resources on gathering seismic data and other geophysical surveys.

For example, its effective equity interest in North Energy?s offshore licenses ranging from 3% to 8% came about through co-operation agreements for analysing seismic data from these concessions using Rex Virtual Drilling.

?There are many oilfield concession owners who have paid double digit millions for seismic studies and still don't know where the oil is.

"Now that Rex Virtual Drilling can analyse their seismic data in four to six weeks with a high level of accuracy, they are eagerly approaching us,? said Mr Brostrom.

From exploratory drilling to identifying recoverable oil reserves, Rex Virtual Drilling has proven to be more than 50% accurate compared to the global industry average of 15% when traditional methods are used.

"We don't sell our technology. We are not a service company. We will only use our technology for equity interest in concessions that we are keen on,? said Mr Brostrom.

The company's business model is the first of its kind among E&P players, and is the reason why it has is making good and may even exceed its aggressive claims of doubling oilfield concessions from 10 to 20 within a year of listing.

"Four months after listing, we have already grown our portfolio to 15 concessions, beating our target. We have spudded Oman according to schedule. With the added proceeds from our recent placement, we are well capitalised for our expansion plans and for our upcoming drilling campaigns," added Mr Brostrom.

Rex_stkpx_21Nov2013
From a high of over 90 cents, Rex's share price has now retreated to 65 cents. Is the price drop justified, given that its projected FY2014 losses are likely to be followed by not just a couple, but several, sizable oil strikes in FY2015? Bloomberg data


Recent story: REX: Recurring Income From JV In Oil Production Service

Announcement out after market close..matter of time they find oil..



PRESS RELEASE

Rex International Holding?s jointly controlled entity

spuds first well in Oman

 Jointly-controlled entity Lime?s subsidiary, Masirah, has begun drilling campaign at

Masirah North North #1 (?MNN #1?) in its Block 50 Oman concession

 Selected for drilling after verification by Rex Virtual Drilling technology, MNN #1 is

expected to be about 1,000 metres in depth

SINGAPORE, 25 November 2013 ? Rex International Holding Limited (?Rex International Holding? or the ?Company?, and together with its subsidiaries, the ?Group?), one of the largest companies

listed on the Catalist of the Singapore Exchange Securities Trading Limited, is pleased to announce

that its jointly-controlled entity, Lime Petroleum Plc (?Lime?), through its subsidiary Masirah Oil Ltd

(?Masirah?), has begun drilling an exploration well in Masirah North North #1 (?MNN #1?), located

in the Block 50 Oman concession, on 25 November 2013. This is part of a two-well drilling

programme in the concession.

The prospect MNN #1, which is about 1,000 metres in depth, was selected for drilling after in-depth

technical evaluation and verification using the proprietary Rex Virtual Drilling technology1

, in

addition to confirmations provided via conventional methodologies. The prospect is located in the

northern area of the Block 50 Oman concession which is about 17,000 square kilometres in size. The

well is being drilled using the independent leg cantilever jack-up drilling rig Aban VII.

Rex International Holding holds a 65 per cent stake in Lime. Lime, through Masirah, has a 64 per

cent participating interest in the Block 50 Oman concession, while Petroci Holding, the national oil

company of Ivory Coast, has a 36 per cent participating interest.

1 A proprietary software tool that uses seismic datasets to predict the presence and location of oil in the ground.

Possible for the ABL the trio to get delisted based on the irregularities,,? this may explain why many reluctant to buy the 3 stocks currently

Date: 22-Nov-2013 19:05) Posted:

Lawsuits shine light on Goldman?s role in Asiasons, Blumont and LionGold crash

FRANKIE HO, The Edge
25 November 2013

Ipco International CEO Quah Su-Ling is taking a unit of Goldman Sachs to court for losses suffered during the collapse of Asiasons Capital, Blumont Group and LionGold Corp early last month. According to legal papers filed on Nov. 20 with the High Court in the UNK and seen by The Edge Singapore, the case revolves around a loan that Quah took from the bank to buy shares in two of these companies.

Quah opened a private wealth management account with UK-incorporated Goldman Sachs International in February, with the intention of taking a loan to buy shares in LionGold. She was introduced to the bank by an investment consultant named William Chan, who heads a Singapore-based investment management firm.

Under the loan agreement with Goldman, Quah initially pledged three million Asiasons shares as collateral for the credit facility. She first invested in Asiasons in 2008, and became a shareholder of Blumont shortly afterwards.

With the money from Goldman, she proceeded to buy LionGold shares, which, together with her Blumont shares, were subsequently placed in her investment portfolio as collateral to extend her loan facility. As the amount and value of her LionGold shares grew over time, the size of her loan increased correspondingly.

By Oct. 1, it had increased to more than $61m, from $12.4m at the time she became a Goldman client.

When Blumont announced in July that it planned to raise funds through a rights issue, Quah was told she could tap her credit line from the bank to subscribe for the rights shares. She agreed to take up her full entitlement to the rights issue on Oct. 1, using the loan from Goldman, and instructed the bank on the same day to proceed accordingly.

Abrupt U-turn

To her surprise, the bank called her on the morning of Oct. 2 to demand that she repay her entire loan in cash by 1.30pm the same day. It?s unclear why Goldman suddenly decided to pull the credit line.

By 1.37pm that day, she was served a notice of default through an email stating she had failed to meet her obligations to the bank, which proceeded immediately to sell her shares in Asiasons, Blumont and LionGold. On Oct. 2, Goldman sold 1.2m of Quah?s shares in Asiasons at $2.79 each. The following day, it sold more of her shares in Asiasons, in two batches, at $2.7524 and $2.7144 apiece respectively.

In seeking to prevent more forced sales, Quah found a buyer on Oct. 3 for her shares in LionGold and Blumont. The next day, she informed Goldman about the buyer ? Vicario Investments from Hong Kong ? and instructed the bank to stop force-selling her shares.

Goldman continued, however, to offload her shares on the market. On Oct. 4, before the Singapore Exchange halted trading on the three counters an hour after the opening bell, the bank sold 292,833 of Quah?s shares in Asiasons for $2.4246 each and 230,667 LionGold shares for $1.2372 apiece. By the time trading was suspended that morning, shares of Asiasons, LionGold and Blumont were down to $1.04, $0.875 and 0.88 respectively.

Other casualties revealed

Around that time, Quah found out that Goldman had also issued a notice of demand to three other individuals seeking payment of their outstanding loans. They include James Hong, Blumont?s executive director and Ng Su Ling, who resigned as Blumont?s independent director on Nov. 18. All three defaulted on their loan obligations, according to court documents filed by Quah?s lawyers.

Ng, too is taking legal action on her own against Goldman. She tells The Edge Singapore that she signed a margin financing agreement with the bank in June. ?I have filed a claim form, which is akin to a writ in Singapore. That would mean the commencement of a lawsuit. Notice of commencement has been sent to their lawyers in Singapore.? Her case will also be heard in UK.

?I can only say at this point that the suit is in connection with agreements signed with Goldman Sachs International and Goldman Sachs Singapore. In relation to the particulars of the claim, I cannot give them to you at the moment because my solicitors are working on it. It is a personal suit,? says Ng who has hired a Queen?s Counsel and solicitors from Reynolds Porter Chamberlain LLP (RPC), a London-based corporate law firm. RPC, which has offices in the UK, Singapore and Hong Kong, is known for taking on cases involving professional negligence.

Quah, too, has engaged a Queen?s Counsel to fight her case. Court papers filed by her lawyers from London-based Wiggin LLP allege a breach of duty on the part of Goldman. A breach of duty occurs when one person or company has a duty of care towards another but fails to live up to that standard.

Among other things, Quah?s lawyers claim that the bank had ?perversely and irrationally threatened? the dump her investments on the open market and had inde

Date: 22-Nov-2013 19:05) Posted:

Lawsuits shine light on Goldman?s role in Asiasons, Blumont and LionGold crash

FRANKIE HO, The Edge
25 November 2013

Ipco International CEO Quah Su-Ling is taking a unit of Goldman Sachs to court for losses suffered during the collapse of Asiasons Capital, Blumont Group and LionGold Corp early last month. According to legal papers filed on Nov. 20 with the High Court in the UNK and seen by The Edge Singapore, the case revolves around a loan that Quah took from the bank to buy shares in two of these companies.

Quah opened a private wealth management account with UK-incorporated Goldman Sachs International in February, with the intention of taking a loan to buy shares in LionGold. She was introduced to the bank by an investment consultant named William Chan, who heads a Singapore-based investment management firm.

Under the loan agreement with Goldman, Quah initially pledged three million Asiasons shares as collateral for the credit facility. She first invested in Asiasons in 2008, and became a shareholder of Blumont shortly afterwards.

With the money from Goldman, she proceeded to buy LionGold shares, which, together with her Blumont shares, were subsequently placed in her investment portfolio as collateral to extend her loan facility. As the amount and value of her LionGold shares grew over time, the size of her loan increased correspondingly.

By Oct. 1, it had increased to more than $61m, from $12.4m at the time she became a Goldman client.

When Blumont announced in July that it planned to raise funds through a rights issue, Quah was told she could tap her credit line from the bank to subscribe for the rights shares. She agreed to take up her full entitlement to the rights issue on Oct. 1, using the loan from Goldman, and instructed the bank on the same day to proceed accordingly.

Abrupt U-turn

To her surprise, the bank called her on the morning of Oct. 2 to demand that she repay her entire loan in cash by 1.30pm the same day. It?s unclear why Goldman suddenly decided to pull the credit line.

By 1.37pm that day, she was served a notice of default through an email stating she had failed to meet her obligations to the bank, which proceeded immediately to sell her shares in Asiasons, Blumont and LionGold. On Oct. 2, Goldman sold 1.2m of Quah?s shares in Asiasons at $2.79 each. The following day, it sold more of her shares in Asiasons, in two batches, at $2.7524 and $2.7144 apiece respectively.

In seeking to prevent more forced sales, Quah found a buyer on Oct. 3 for her shares in LionGold and Blumont. The next day, she informed Goldman about the buyer ? Vicario Investments from Hong Kong ? and instructed the bank to stop force-selling her shares.

Goldman continued, however, to offload her shares on the market. On Oct. 4, before the Singapore Exchange halted trading on the three counters an hour after the opening bell, the bank sold 292,833 of Quah?s shares in Asiasons for $2.4246 each and 230,667 LionGold shares for $1.2372 apiece. By the time trading was suspended that morning, shares of Asiasons, LionGold and Blumont were down to $1.04, $0.875 and 0.88 respectively.

Other casualties revealed

Around that time, Quah found out that Goldman had also issued a notice of demand to three other individuals seeking payment of their outstanding loans. They include James Hong, Blumont?s executive director and Ng Su Ling, who resigned as Blumont?s independent director on Nov. 18. All three defaulted on their loan obligations, according to court documents filed by Quah?s lawyers.

Ng, too is taking legal action on her own against Goldman. She tells The Edge Singapore that she signed a margin financing agreement with the bank in June. ?I have filed a claim form, which is akin to a writ in Singapore. That would mean the commencement of a lawsuit. Notice of commencement has been sent to their lawyers in Singapore.? Her case will also be heard in UK.

?I can only say at this point that the suit is in connection with agreements signed with Goldman Sachs International and Goldman Sachs Singapore. In relation to the particulars of the claim, I cannot give them to you at the moment because my solicitors are working on it. It is a personal suit,? says Ng who has hired a Queen?s Counsel and solicitors from Reynolds Porter Chamberlain LLP (RPC), a London-based corporate law firm. RPC, which has offices in the UK, Singapore and Hong Kong, is known for taking on cases involving professional negligence.

Quah, too, has engaged a Queen?s Counsel to fight her case. Court papers filed by her lawyers from London-based Wiggin LLP allege a breach of duty on the part of Goldman. A breach of duty occurs when one person or company has a duty of care towards another but fails to live up to that standard.

Among other things, Quah?s lawyers claim that the bank had ?perversely and irrationally threatened? the dump her investments on the open market and had inde

http://infopub.sgx.com/FileOpen/REX_...=Announcement& FileID=265168..Normally such news have a positive impact on REX shares

J.P Morgan doing a roadshow in Hong Kong on Nov 21-22 " Asia rising dragons.." for REX.Rex thru its subsidiary LIME buy additional 10 % in...



http://infopub.sgx.com/Apps?A=COW_Co...ement_Content& B=AnnouncementToday& F=1023211#.UoyQBcRmiSo

It seems easier to make $$$ by shorting the trio..rather than hold..she fear being sued by MAS..she's wife of James Ng

THE BUSINESS TIMES
PUBLISHED NOVEMBER 19, 2013
Blumont independent director resigns
BYLEE U-WEN LEEUWEN@SPH.COM.SG
A NON-EXECUTIVE independent director of Blumont Group, Ng Su Ling, resigned yesterday with immediate effect, the company said in a statement to the Singapore Exchange (SGX).

When contacted by The Business Times last night, the 49-year-old said one of the main reasons for her stepping down was to pursue legal action against Goldman Sachs International and Goldman Sachs Singapore.

She revealed that she has filed suit in the UK, and decided to leave Blumont Group in order to focus on the suit with her solicitors. She also added that she might have to make frequent trips to London as a result.

Ms Ng declined to go on the record when asked why she was suing the investment banking firm.

Subscribers, log in here to read the full story. If you do not have an account, subscribe here.

She made tons of $$$ liao...hope she will be charged by MAS for some illegal trading

--------------------------------------------------------------------------------

Click here for full report

LionGold’s Bolivia Gold Project delivers a 40% increase in its Mineral Resource estimate to now contain a total of 1.79 million ounces of gold

Highlights:  A new Mineral Resource has been estimated for LionGold’s 100% owned Amayapampa Gold Project in Bolivia. This resource estimate shows a small reduction in ounces in the Indicated category and a significant increase in ounces in the Inferred category, to now contain a total of 1.79 million ounces of gold, a 40% (507,000 ounce) increase on the previously reported Mineral Resource of 1.28 million ounces.  These differences are due to a significant increase in the gold grade of the Resource, from approximately 1.1g/t gold to 2.4g/t gold, in each of the categories. This has been achieved through the addition of recent geological information, and applying a different geological model that is considered to better conform to the structural domains of the mineralisation. 

There will also be an overall decrease in the expected tonnages to be mined, paving the way for a potentially smaller gold processing plant, lower capital cost and lower operating cash costs per ounce, whilst maintaining similar gold production volumes to the original plan. 

The development of the Amayapampa Gold Project is proposed to be in two stages, with a smaller 1,500 tonnes per day (550,000 tonnes per annum) operationcontemplated initially. Design work is well advanced and bids are currently out for the design and construction of the gold processing plant. It is expected that this Stage will produce an average of 30,000 ounces per annum over its first 3 years of operation. 

The ultimate Stage 2 operation is anticipated to process 1.5 million tonnes per annum upon an upgrade to the plant. After a ramp-up over the fourth year, full production is expected to produce an average of 95,000 ounces per annum over an anticipated additional four years prior to a final ramp-down year. During the ramp-up and a rampdown an average of 70,000 ounces per annum is anticipated. 

Since acquiring the Project in December 2012, LionGold, through its 100% owned Bolivian subsidiary Minera Nueva Vista, has been building a first-class operations team to take the Project forward.

Rex was included under the small cap index..-MSCI Singapore Index



MSCI SINGAPORE INDEX
Additions
ASIAN PAY TELEVISION
GSH CORP
INTERNATIONAL HEALTHWAY
KRISENERGY
MAPLETREE GREATER CHINA
OUE HOSPITALITY TRUST
REX INTERNATIONAL HLDG
ROWSLEY
SINGHAIYI GROUP
SOILBUILD BUSINESS REIT
SPH REIT
UNITED ENVIROTECH
YHM GROUP

Yes ignore the sound but did u cash out when it was>14cts? Otherwise got caugfht liao..I just sound note of caution as I was lucky to escape for this JES and hence don't want fellow forummers to get caught in JES..wish u luck

Buy Sell JES SGD 10,000 0.127 0.128 45,000 0.130 -0.002 -1.520 4,021,000 0.132 0.125

like an elastic bounce back today just when everybody or chart say will test its low

I got the info from here..though a bit outdated since in Oct but Nov now..still ok to share info

Hi all,

I have been following the company blumont/asiasons and liongold quite a bit. Interesting happenings like this either pops up opportunities for improving regulation (for sgx) to protect investors with things like trading restrictions, observing shortselling and soon to come circuit breakers....issues with remisiers and brokerage houses for managing credit risk and contra trading and finally opportunities for retail investors and such.

I have quantified all 3 stocks with their risk and returns. I do feel that the downside is limited, the upside however leaves much to imagination. Do check it out on my blog.

edenadvisors.blogspot.sg/



Cheers and stay sharp, stay safe.

I got the info from here..though a bit outdated since in Oct but Nov now..still ok to share info

Hi all,

I have been following the company blumont/asiasons and liongold quite a bit. Interesting happenings like this either pops up opportunities for improving regulation (for sgx) to protect investors with things like trading restrictions, observing shortselling and soon to come circuit breakers....issues with remisiers and brokerage houses for managing credit risk and contra trading and finally opportunities for retail investors and such.

I have quantified all 3 stocks with their risk and returns. I do feel that the downside is limited, the upside however leaves much to imagination. Do check it out on my blog.

edenadvisors.blogspot.sg/



Cheers and stay sharp, stay safe.

Blumont and Liongold - What does the future hold for this two resource investment holdings?
Blumont
A share with a phenomenal rise over the last few months. It kept rising from 0.05 to 2.41 before crashing to its now 0.133 share price. Interestingly, a few days before the collapse, while I was on the train, I observed an aunty sitting beside me scrolling through her stock portfolio, one stock she stare at for a long while (like it could make a difference) was Blumont.

A stock that I saw everything that I was against.

- Phenomenal rises in prices for not much reason, at some point, its market cap made it worth more than SMRT or NOL while its largest acquisition is only 45m.
- No key all star management with special connections
- No key businesses but purely rising on acquisitions.

I found some interesting points that may possibly quantify an investments at current price of 0.133. Not at the previous high prices though. It was the unfolding of events plus the contrarian and bargain hunter mind of mine that seeks the cheapest price for the highest value.

At a risk of overstating anything, this is how I quantify things.

Investment highlights:
- Hong Kong-based mining entrepreneur Alexander Molyneux has been named chairman designate. He bought a 5.2% stake with a price ranging from $0.2 - $0.4/ share. So his minimum investment is at least $27m. No small sum for someone who was formerly an MD in Citibank for Investment banking in resources.
- With Alexander Molyneux on board, the company does gain some traction in creating a resource champion, especially with prices of resources at a low price now, it may makes sense to acquire undervalued assets.
- Platinum Partners will subscribe to redeemable convertible bonds for up to an aggregate principal
amount of US$200 million at 8.0% p.a.. A hedge fund interest continues to provide more support for its possible business credibility. Proceeds to be used to fund the announced investment in Discovery Metals Limited.
- Discovery Metals Limited is a credible investment, its current price of 0.7, was previously a privatization target by a billionaire. (which failed)

Risk
- Blumont yesterday said its one-for-two rights issue at five cents apiece was over-subscribed by about 37 per cent, raising gross proceeds of some $43.05 million. (The flood of new shares may continue to provide more downside pressure)
- No certainty of strategy. While company has additional $43.05m of cash, the NAV at 0.4 shows that it is valued 3x bookvalue at current price.
- Certain downside may still persist as people are running for cover.

Conclusion
- New chairman, new investors and strategic alliances can help this company to grow. But the lack of clear strategy other than mere acquisitions and aiming for lofty ambitions.
- While I am positive that the new chairman and the investment hedge fund appearance will help the company grow. I remain skeptical of any credible upside unless more funds are deployed through share placements.
- Target price 0.2 (upside of 50.4%)

Liongold
- Former Citibank Investment Banking MD at the helm (a smart dealmaker)
- More quantifiable assets and undervalued by most metrics (compared to similar sizable gold miners in the region and much cheaper than CNMC goldmine)
- Mere acquisitions only, not much good in terms of creating a good strategy. Unless a profitable strategy is drawn out, I remain skeptical of the price. On a pure gold mining value, it could be worth anything around 0.30/share (100% upside)

Disclaimer : Caveat Emptor (Buyers beware), the writer has no positions in this two stocks.


Extra notes on Platinum Partners
PPVAF is a multi-strategy hedge fund established and registered in the Cayman Islands with assets under management in excess of US$700 million and is managed by Platinum Partners
(the “Firm”). The Firm is a New York based investment management group with more than
US$1 billion in assets under management. The Firm was founded in 2003 by Mr. Mark
Nordlicht, an investor with over twenty years of experience in asset management. The Firm
manages a number of funds, including PPVAF.

Extra notes for Blumont

Copper (September 2013): Blumont entered into a concurrent convertible bond and equity placement agreement (the “Placement”) with Discovery Metals Limited (“DML”), a copper exploration and production company listed on the Australian Securities Exchange (“ASX”) and Botswana Stock Exchange, for a total investment consideration of approximately A$116 million. Pursuant to the Placement, Blumont acquired approximately 11.56% of the total issued share capital of DML;
Thermal Coal (September 2013): Blumont entered into a conditional share subscription agreement to acquire up to 15% of the potential enlarged issued share capital of ASX and Johannesburg Stock Exchange-listed coal mining company, Resource Generation Limited, for a total investment consideration of between A$20.97 million and A$22.11 million;
Copper (August 2013): Blumont acquir

Eden Advisors
Contrarian and value investors focusing on high alpha undervalued stocks

Sunday, October 20, 2013
Asiasons Capital - does fortune favors the bold?
Interestingly, this 3 stocks have experienced strong upside momentum over the last few months with blumont gaining the most on an y-o-y basis.

Personally, I have met with the owners of Asiasons before, seen them in person and watched them query private businesses in a 'pitch to the star investors moment'. They are by no means small unknown people, with a wide range of connections, I have been eyeing Asiasons since I met them at techventure 2012 and I found this quite an interesting window of opportunity.

Note the interesting following:
- The management are real, the people are smart and they own a total of 53% stake in the company.
- Private equity and fund management skills are hard to come by, this people have strong credibility and connections, especially in Azlan who is a former Bursa regulator and he sits on the board of M+S (the temasek-khazanah collaboration).
- Asiasons has one of the best run PE funds in the region with an end-to-end operations technique that includes marketing, advertising and website design that enhances value of their investment holdings.

Risk
- Share price have lost nearly 96% of its value from its top of 2.91, no one can quantify the bottom. (Currently at 0.128)
- Share placements, deal-making and other value accretive acquisitions have been put on halt due to fall in share prices
- Stakes in Liongold and connections to blumont and stuff continue to puzzle investors, notwithstanding a fraud collapse. And the last thing investors want is ambiguity which provides more reason for downside (see link - http://www.thestar.com.my/Business/Business-News/2013/10/19/Business-as-usual-board-to-focus-on-repairing-damaged-reputation-Asiasons-is-picking-up-the-pieces.aspx)

Conclusion
- The downside is kinda curtailed with 96% capital wiped, the company Net Tangible Value stands at 0.18, which remains quite a reasonable price on a liquidation basis (upside of 40%). Also, with not many private equity businesses in the region, this could be a multi-bagger in the long run and opens a wide opportunity for acquisitions.
- Target price 0.34 with 3 year horizon

Note : I am vested with a small portion.

Iskandar Waterfront Holdings IPO likely to value developer about RM5bilJan 10, 2013
View printable version

PETALING JAYA: The planned mega initial public offering (IPO) by tycoon Tan Sri Lim Kang Hoo of Iskandar Waterfront Holdings Sdn Bhd (IWH) is looking to value the master developer at around RM5bil, causing excitement among international and local investment bankers looking to play a role in the offering, sources said.

An earlier reported figure of US$300mil (RM912mil) to be raised from the exercise might be a conservative figure, said one banker. “It is possible that the amount raised could be more than that, judging just on the size and value of recent land deals by IWH,” said one banker.

On the other hand, other bankers cautioned that considering the “one-project” nature of IWH's business, it may not be that easy for investors to attach too high a valuation on the shares of IWH.

IWH is to be listed as a “master developer”. Checks revealed that there are less than 10 such listings globally.

While still in its early stages, the IWH IPO has attracted a few international bankers to visit the management of IWH in response to a request for a proposal.

IWH's proposition is that it is banking on the potential future earnings from the 1,619-ha waterfront city project in the southern state of Johor.

In an earlier interview, Lim had told StarBiz that Country Garden's development would have a GDV of some RM18bil, with the first-phase GDV of the project alone at around RM2.5bil. The project will be stretched over 10 years.

The other ongoing projects in Iskandar Waterfront include the RM500mil Azea Residences by a Singapore group, the RM105mil Plazzo Hotel and Serviced Suites by the Waz Lian Group and the RM20mil Tune Hotel project.



Source: The Star Online

KUALA LUMPUR, Nov 4 (Reuters) - Iskandar Waterfront Holdings, a Malaysian property developer focused on the southern state of Johor, has postponed an up to $300 million IPO to the last quarter of 2014 due to property cooling measures, two sources said on Monday.

The firm, tasked with developing a metropolis in Johor state that neighbours Singapore, had previously deferred the listing to early 2014 from an initial target to sell shares in this current quarter.

The IPO is a casualty of the Malaysian government's plan to raise real property gains taxes next year and double the minimum price at which foreigners can buy property as it seeks to cool prices.

"The assets have to be revalued now with the changes in real property gains tax," said one of the sources. The sources declined to be identified as the matter was private.

Officials in Iskandar could not be immediately reached for comment.

(Reporting By Yantoultra Ngui; Editing by Niluksi Koswanage)

..Jubliee..hype about Iskander gone liao
.

Iskandar Waterfront Holdings IPO likely to value developer about RM5bilJan 10, 2013
View printable version

PETALING JAYA: The planned mega initial public offering (IPO) by tycoon Tan Sri Lim Kang Hoo of Iskandar Waterfront Holdings Sdn Bhd (IWH) is looking to value the master developer at around RM5bil, causing excitement among international and local investment bankers looking to play a role in the offering, sources said.

An earlier reported figure of US$300mil (RM912mil) to be raised from the exercise might be a conservative figure, said one banker. “It is possible that the amount raised could be more than that, judging just on the size and value of recent land deals by IWH,” said one banker.

On the other hand, other bankers cautioned that considering the “one-project” nature of IWH's business, it may not be that easy for investors to attach too high a valuation on the shares of IWH.

IWH is to be listed as a “master developer”. Checks revealed that there are less than 10 such listings globally.

While still in its early stages, the IWH IPO has attracted a few international bankers to visit the management of IWH in response to a request for a proposal.

IWH's proposition is that it is banking on the potential future earnings from the 1,619-ha waterfront city project in the southern state of Johor.

In other words, the IPO was banking on the potential of an influx of buyers, mostly Singaporeans, into the southern state, as well as transforming Johor into the next thriving hub of Shenzhen-Hong Kong, bankers said.

The entire waterfront project will have a gross development value (GDV) of some RM80bil. It is located next to the Iskandar Development Region, which is the country's southern economic corridor. When completed, Iskandar Waterfront will be a waterfront city fronting Singapore.

Lim owns 60% of Iskandar Waterfront via Credence Resources Sdn Bhd. His partner in this venture is the Johor state government via Kumpulan Prasarana Rakyat Johor, which holds the remaining 40% stake in IWH.

Both the Employees Provident Fund and Khazanah Nasional Bhd have indirect stakes in IWH held via Iskandar Investments Bhd.

So far, Iskandar Waterfront has inked a deal to sell some 55ha of land for nearly RM900mil to Hong Kong-listed Country Garden Holdings. This was a landmark deal as it was the first time Iskandar Waterfront was selling land outright to a third party without taking an equity in the project.

In an earlier interview, Lim had told StarBiz that Country Garden's development would have a GDV of some RM18bil, with the first-phase GDV of the project alone at around RM2.5bil. The project will be stretched over 10 years.

The other ongoing projects in Iskandar Waterfront include the RM500mil Azea Residences by a Singapore group, the RM105mil Plazzo Hotel and Serviced Suites by the Waz Lian Group and the RM20mil Tune Hotel project.



Source: The Star Online

KUALA LUMPUR, Nov 4 (Reuters) - Iskandar Waterfront Holdings, a Malaysian property developer focused on the southern state of Johor, has postponed an up to $300 million IPO to the last quarter of 2014 due to property cooling measures, two sources said on Monday.

The firm, tasked with developing a metropolis in Johor state that neighbours Singapore, had previously deferred the listing to early 2014 from an initial target to sell shares in this current quarter.

The IPO is a casualty of the Malaysian government's plan to raise real property gains taxes next year and double the minimum price at which foreigners can buy property as it seeks to cool prices.

"The assets have to be revalued now with the changes in real property gains tax," said one of the sources. The sources declined to be identified as the matter was private.

Officials in Iskandar could not be immediately reached for comment.

(Reporting By Yantoultra Ngui; Editing by Niluksi Koswanage)

..
.
Albedo,Rowsley and Jubliee,all the hype about Iskander over liao

Jim Rogers is in this and GEO energy

Dragonslayer,,,the ang mo bought already

Edge mag week Oct 21-27 pg 38..showed Oct 7 Alexander Alan Molyneux throught married deal acquired 135mil Bluemont shares.On pg 6 the incoming chairman said," The exchange is taking valid action,but it's not starting any investigation into the company" He tells Edge mag," If there has been any funny trading going on,that has nothing to do with the company"

nngeeh ( Date: 30-Oct-2013 22:27) Posted:



I think it might be good to wait until Platinum Partners subscribed the convertable bond and Alexander Molyneux complete the acquisition of the share. In both arrangement, the minimum conversion price is $0.20. We should be able to use that price as reference.

Edge mag week Oct 21-27 pg 38..showed Oct 7 Alexander Alan Molyneux throught married deal acquired 135mil Bluemont shares.On pg 6 the incoming chairman said," The exchange is taking valid action,but it's not starting any investigation into the company" He tells Edge mag," If there has been any funny trading going on,that has nothing to do with the company"

nngeeh ( Date: 30-Oct-2013 22:27) Posted:



I think it might be good to wait until Platinum Partners subscribed the convertable bond and Alexander Molyneux complete the acquisition of the share. In both arrangement, the minimum conversion price is $0.20. We should be able to use that price as reference.

Asiasons in convertible loan facility for up to S$25m

BT (Published 30 Oct 2013)
Asiasons Capital Limited said its two controlling shareholders have agreed to lend it up to S$25 million which can be converted up to 100 million new Asiasons shares at 25 cents each.

Ng Teck Wah and Jared Lim Chih Li, both of whom are directors and Asiasons' controlling shareholders, entered into the loan facility - which comes at an interest rate of 6 per cent per annum - on Oct 29 using Deepvale Capital. The latter is wholly-owned by the duo.

Asiasons said it intends to use S$20 million for private equity investments and S$5 million for working capital purposes.

The term loan is subject to various negotiations and conditions including approval from the Singapore Exchange for the listing of and quotation of the conversion shares on the mainboard.

x 0

Alert Admin

Sori for the repeat news but wonder why this Goh see in Bluemont?..by Nov 7 the CEO will be replaced by the angmo..doubt anything fishy as Bluemont is now on everyone's spot light



Blumont : On 23.10.13, one Goh Seh Kiat became a SSH of Blumont after purchasing 154,940,274 shares...on 25 Oct he bought another 40mil

samon_yy ( Date: 28-Oct-2013 17:39) Posted:

Goh Seh Kiat have acquired 7.5% percent of blumont shares, it is a good sign someone still interest in it.

At this price can keep..digging for oil since mid Oct ..by Dec 2013 shd at least discover something with their 80% chances of success

All u want to know about Innopac...

Background
The Company was formed in Singapore under the name of Colonel Sanders Kentucky Fried Chicken Pte Ltd on 22 September 1973. On 1 February 1983, it was converted into a public limited company under the name of Kentucky Fried Chicken (S) Ltd, operating the fast food franchise.

In 1986, after transferring the fast food business to a subsidiary, it became a holding management and investment company, under its present name. In 1992, it divested the Kentucky Fried Chicken business. In 1993, it wrote off a substantial part of its losses by reducing the par value of its shares from $1 to $0.20 followed by a rights issue. In 1996, it divested its paper trading business. In 1997, it divested its poultry processing business in China. In 2002, the Company wrote off $78,020,000 of its losses through a capital reduction exercise which reduces the par value of the Company?s share from $0.20 to $0.01 each.

The principal activities of the Group now are the franchising of the Shakey?s restaurant system in the USA. The Group also engaged in IT development and Telecommunication services. The Company is an investment holding and management services company.

Website:
INNOPAC Holdings Limited :: Under Development ::

st

9 oct innopac | Flickr - Photo Sharing!

starlene ( Date: 27-Oct-2013 19:12) Posted:



Should have bottom at 0.032-0,035 recently...

So many daily buy backs Biosensor can reamin >$1 now $1.02 without the last buy back on Oct 7..not back hope it can go higher


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Company Announcement Title Date Time
83 BIOSENSORS INT'L GROUP, LTD. DAILY SHARE BUY-BACK NOTICE Oct 7 2013 05:40:56 PM
74 BIOSENSORS INT'L GROUP, LTD. DAILY SHARE BUY-BACK NOTICE Oct 4 2013 05:30:31 PM
64 BIOSENSORS INT'L GROUP, LTD. DAILY SHARE BUY-BACK NOTICE Oct 3 2013 05:22:29 PM
79 BIOSENSORS INT'L GROUP, LTD. DAILY SHARE BUY-BACK NOTICE Oct 2 2013 05:41:28 PM
74 BIOSENSORS INT'L GROUP, LTD. DAILY SHARE BUY-BACK NOTICE Oct 1 2013 05:15:55 PM
75 BIOSENSORS INT'L GROUP, LTD. DAILY SHARE BUY-BACK NOTICE Sep 27 2013 05:43:36 PM
59 BIOSENSORS INT'L GROUP, LTD. DAILY SHARE BUY-BACK NOTICE Sep 26 2013 05:22:45 PM
71 BIOSENSORS INT'L GROUP, LTD. DAILY SHARE BUY-BACK NOTICE Sep 23 2013 05:43:50 PM
83 BIOSENSORS INT'L GROUP, LTD. DAILY SHARE BUY-BACK NOTICE Sep 10 2013 05:57:18 PM
79 BIOSENSORS INT'L GROUP, LTD. DAILY SHARE BUY-BACK NOTICE Sep 6 2013 05:39:27 PM
51 BIOSENSORS INT'L GROUP, LTD. DAILY SHARE BUY-BACK NOTICE Sep 3 2013 05:19:55 PM
70 BIOSENSORS INT'L GROUP, LTD. DAILY SHARE BUY-BACK NOTICE Sep 2 2013 05:21:05 PM
82 BIOSENSORS INT'L GROUP, LTD. DAILY SHARE BUY-BACK NOTICE Aug 30 2013 05:21:27 PM
78 BIOSENSORS INT'L GROUP, LTD. DAILY SHARE BUY-BACK NOTICE Aug 29 2013 05:21:29 PM
86 BIOSENSORS INT'L GROUP, LTD. DAILY SHARE BUY-BACK NOTICE Aug 28 2013 05:27:23 PM
57 BIOSENSORS INT'L GROUP, LTD. DAILY SHARE BUY-BACK NOTICE Aug 27 2013 05:15:15 PM
100 BIOSENSORS INT'L GROUP, LTD. DAILY SHARE BUY-BACK NOTICE Aug 26 2013 06:16:37 PM
80 BIOSENSORS INT'L GROUP, LTD. DAILY SHARE BUY-BACK NOTICE Aug 16 2013 05:42:22 PM
90 BIOSENSORS INT'L GROUP, LTD. DAILY SHARE BUY-BACK NOTICE Aug 15 2013 05:49:31 PM
140 BIOSENSORS INT'L GROUP, LTD. DAILY SHARE BUY-BACK NOTICE Aug 14 2013 05:52:05 PM
Pages: 1 2 Next

After 6 months from date of listing 11 Oct..U can start to convert..for those who got the warrants from the mother shares..even if warrant zero share price(unlikley)..u still entitled to exercise at 18cts only..that's why mother shares can't move as traders would have switched to cheaper warrants for same exposure

84-84.5cts now

Fake queue at 83cts seen many times..to block and accumulate..once> 80cts quite safe but make sure u have $$$ to pick up...Bought 200 lots on 14 Aug 2013 at 82cts and sold off 92-95cts not long ago..buying back at this price again

starlene ( Date: 23-Oct-2013 19:28) Posted:



With more than 80% accuracy in blind and live tests, RT has helped the company secure strategic partnerships and concessions.

Results from Rex?s first few exploration wells will be critical as it becomes proof of the effectiveness of RT.

The results of the first exploration well are expected to be known by 1Q14. If RT is proven to be effective as management claims, Rex has the potential to become a multi-bagger as it revolutionalises the O& G industry.



Support shd be 8-81cts level previously was broken during the fear over U.S debt ceiliomgs..but the way it bounced back and stayed > 80cts that's why i like,bearing Rex and partners should start exploring for oil now from mid Oct to Dec ..any large discovery the shares will soar..

siness Times in Dec 2012....

On 8 Nov 2012, Biosensors initiated its first ever share buybacks since listing. 19.8m shares were repurchased over 17 trading days at SGD1.08-1.17 per share, demonstrating its confidence

In 2013 Biosensor still buy when it break belwo $1.00 to hit low of about 83cts and now on the uptrend..broke past $1 on Tues 22 Oct 2013

The few green among the sea of red-REX..akang datang


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Buy Sell Stock Name Curr BVol Buy Sell SVol Last Chg %Chg Volume DHigh DLow CPF R/D Time Rmks ExDivDate UPC FSI
Buy Sell $ Rex Intl SGD 162,000 0.835 0.840 727,000 0.835 +0.020 +2.450 3,326,000 0.840 0.810 R 14:07:57 NA

Biosensor has been buying back its own shares since Nov 2012 when it bought it first bought its share back then at about $1.08...

see below


16-01-2013, 11:27 PM #11
chensing
Senior Member

Join Date: Aug 2008
Posts: 1,297
Bought some today 1.19-1.20 cant catch the low $1.185..lowest share buy back in Dec 2012 was about $1.17 so I think will drop further,,hence went in



That was my comments in another forum....I still added another 50 lots 98.5-99cts ytday 23 Oct..hope it will go up from here..my reasoning is Bios has been buying back from ab 83cts to 95cts and even in Nov 2012 when it first bought back at $1.08 and then wennt all the way back to a high $1.40..I was lucky to bail lock stock barrel out completely $1.35 and saw it spiral downwards to about 83cts..near this price its CFO bought..I recalled..but friends here must be very patient with Biosensor rather than park your money in silly bank accounts earning peanuts

With more than 80% accuracy in blind and live tests, RT has helped the company secure strategic partnerships and concessions.

Results from Rex?s first few exploration wells will be critical as it becomes proof of the effectiveness of RT.

The results of the first exploration well are expected to be known by 1Q14. If RT is proven to be effective as management claims, Rex has the potential to become a multi-bagger as it revolutionalises the O& G industry.



Support shd be 80-81cts level previously was broken during the fear over U.S debt ceiliomgs..but the way it bounced back and stayed > 80cts that's why i like,bearing Rex and partners should start exploring for oil now from mid Oct to Dec ..any large discovery the shares will soar..

There is still forced selling by directors of Bluemont..also from new rights shares..20cts should hold as the new CEO will be buying 220-60cts minium at 20cts max at 60cts..so far last did not close below 20cts..thos ewho bought during designated period like myself at 11-15cts would have sold too..hope that 20cts would not break...

Liverpool77 ( Date: 23-Oct-2013 11:26) Posted:



Any idea it will hold above 0.20 level?

Limited upside ever sold at 35cts past years,,beg of 2013 sold at 20-21cts..avoid its losses come in last 2 years..limited upside 15cts the most..if u really want to buy this S chip..suggest better put in $$$ in Vard Holdings,,the big Italian shareholders bought at $1.21..$1 billion contracts secured in 2013..expect some dividends mid year reporting soon

Correction
IN "Asiasons, Blumont and LionGold stocks soar" (BT, Oct 22), we erred in quoting a broker as saying that Blumont's rights issue was undersubscribed. The issue was oversubscribed by 37 per cent. We are sorry for the error.

Hope longer say b4 Jan 2014 $1.20 at least...UOB TP $1.47 but i not greedy

Quote:
Originally Posted by kyrie100 View Post
Sold at $0.825.
Best 1-day punt ever.

Net loss covered.
Left with net gain.

..My heartiest congras..keep it up..wow last 15 minutes T-Rex woke up with powerful roar

Buy Sell $ Rex Intl SGX 0.815 365,000 0.820 283,000 0.820 +0.035 0.790 13,723,000 0.830 0.780 0.970
Last edited by elenatang; 22-Oct-2013 at 05:08 PM.

Does it mean we are quite safe buying REX now at about 78.5cts..since

Originally Posted by kyrie100 View Post
Restructures holdings in US investments and increases stake in Trinidad & Tobago concessions

· The US$3m will be financed by way of the issuance of new shares in Rex at an issue price of S$0.83/share.


http://infopub.sgx.com/Apps?A=COW_Co...ease_final.pdf
wondering when this new issuance will take place as it will have impact.

uote:
Originally Posted by Gooners1975 View Post
$ Rex Intl 208000 SGD 155685

big short play on rex
After mkt close..Rex going in US for roadshow to increase its profile..good news ?

uote:
Originally Posted by Gooners1975 View Post
$ Rex Intl 208000 SGD 155685

big short play on rex
After mkt close..Rex going in US for roadshow to increase its profile..good news ?

Innopac dropped from 20cts in Sept to 0.033 during the designated stock status of Asiason,Bluemont and LionGold..Innopac is a good proxy of the 3 stocks and cheaper and provide better leverage..Aug 2013 Innopac placed out 250mil shares at $0,1232 per share of Innopac to Platinium Partners,,this money will strengthen co's working ccapital and fund its future growth.Inno pac has been profitable since 2009 ,PE 13.5..bought this morning 0.038-0.039..do yr own diligence b4 investing

WanSiTong ( Date: 21-Oct-2013 13:13) Posted:

Singapore shares crawl higher as small, mid-caps stocks top trading: Reuters

Singapore shares edged up on Monday, buoyed by the market regulator's decision to lift trading restrictions in three small and mid-cap stocks.

Shares of Asiasons Capital Ltd more than doubled in value, while Blumont Group Ltd and LionGold Corp Ltd jumped about 90 percent in heavy trading, after SGX lifted trading restrictions on these stocks and restored their full access to the equity market. ...

The benchmark Straits Times Index inched up 0.2 percent to 3,197.50, in line with a 0.2 percent gain in MSCI's broadest index of Asia-Pacific shares outside Japan.

The FT ST Small Cap Index has risen more than 3 percent so far this year, while the FT ST Fledgling Index, which covers companies with smaller market capitalisations, jumped nearly 20 percent. Both outran the benchmark index's 0.9 percent rise year-to-date.

" We believe that small mid caps will continue to attract investors interest with its superior growth," DBS said in a research report.

DBS's picks include Nam Cheong Ltd, Goodpack Ltd, Centurion Corp Ltd and Yoma Strategic Holdings.

DBS also recommended Ezion Holdings Ltd, Kreuz Holdings Ltd and Rex International Holding Ltd in the oil and gas space, as well as palm oil stocks Bumitama Agri Ltd and Indofood Agri Resources Ltd

Not too late ..shares forced sell kenna so artifically low..


.bought liao...11.8-13cts LionGold and Asiasions..and a bit of bluemont.. Business Times dated 21Oct 2103..First Qtr LionGold made $235mil attributable to shareholders NTA 25.5cts based on outstanding 921mil shares 23mil cash on hand debt gearing 12cts..has been > 70cts since Jan 2100 and hit high $1.755 on Aug 27 2013 and last time trading 15-20cts was in June 2009 Asiasons recorded $177mil for 2nd Qtr ended NTA 18cts cash on hand $13.6mil gearing 22cts > 30cts since May 2012 hit high $2.68 on Sept 24 2013 The 2 fundamentally still sound stocks..never mention Bluemont?? Confidence returning..buy more and keep longer term.. No. Stock Order Submitted Quantity Price Share Value Action 1 LionGold Buy 21/10/13 12:33pm 165,000 0.260 SGD42,900.000

starlene ( Date: 21-Oct-2013 11:29) Posted:



Business Times dated 21Oct 2103..First Qtr LionGold made $235mil attributable to shareholders NTA 25.5cts based on outstanding 921mil shares 23mil cash on hand debt gearing 12cts..has been > 70cts since Jan 2100 and hit high $1.755 on Aug 27 2013 and last time trading 15-20cts was in June 2009



Asiasons recorded $177mil for 2nd Qtr ended NTA 18cts cash on hand $13.6mil gearing 22cts > 30cts since May 2012 hit high $2.68 on Sept 24 2013



The 2 fundamentally still sound stocks..never mention Bluemont??

Everytime when pple about to give up,REX bounces back with more announcements..

Buy Sell $ Rex Intl SGX 0.770 10,000 0.775 297,000 0.770 +0.035 0.755 5,206,000 0.775 0.735 0.970 0.505 0 0 10:29:53 REXI.SI

Innopac is a proxy to the 3 previous designated stocks
http://www.flickr.com/photos/caricature/10167211993/

Originally Posted by Gooners1975 View Post
agree.

honestly, there should be some annoucements coming out soon.

their 2 wells in USA is slated for production in Q4 2013 and exploration in 2 wells in Oman to conclude in the same period.
Stocks In Focus SG (CapitaMalls Asia, Rex Int

Stock in focus - Rex International Awards Drilling Contract To Aban 7
Rex International said in a press release statement that its jointly-controlled entity, Lime Petroleum, through its subsidiary Masirah Oil, has awarded a drilling rig contract to Aban 7 for the execution of its drilling programme in the company?s Block 50 Oman concession. Under the terms of the contract, Masirah will secure the services of the Aban VII drilling jack-up rig to spud and drill a minimum of two exploration wells ? Masirah North North #1 and Masirah North East #1. The contract is anticipated to commence between mid-October and mid-November 2013 for an effective minimum period of 50 working days. Mans Lidgren, chief executive officer of Rex International said: ?The firm rig contract with Aban gives assurance that our drilling programme in Oman is progressing according to plan. The programme in Oman is an important step for the company in the roll-out of our drilling campaign throughout our portfolio.?

Significance: The prospects of the two wells were selected for drilling after in-depth technical evaluation and verification using the proprietary Rex Virtual Drilling technology on top of other conventional methodologies.

Production can potentially start by 1H14 through utilisation of an early production system if the drilling of the wells yield successful discoveries.

Sell the mother shares hold the warrants to maturity...warrant is just a fraction of the mother share's price...6 months from 11 Oct u may exercise into mother shares by paying 18cts ..still cheaper than mother shares which is about 31cts verses 30cts {12cts +18cts(exercise price)} Normally nobody exercise until expiry dates unless the warrants plus exercise price is way below Rowsley's shares than worth paying cash to registrar of Rowsley..U hold warrants for its gearing/leverage effect

The only objective achieved in this designated stocks is to curb interest in pennies stocks and remisiers' income affected