I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


Click to email CW8888 or Email ID : jacobng1@gmail.com



Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Wednesday 30 June 2021

Me too: Lian Beng (3)

Read?  Me too: Lian Beng (2)

ON Monday, the Ong family which controls civil engineering and construction group Lian Beng announced a mandatory conditional cash offer at 50 Singapore cents per share, following a married deal.

The family had, through its investment holding company Ong Sek Chong & Sons, acquired nearly 5.9 million shares or about 1.2 per cent of the total number of issued and paid-up ordinary shares issued by Lian Beng Group.

Prior to the market acquisition, Ong Sek Chong & Sons and its concert parties held about 43.6 per cent of voting rights in Lian Beng. With its recent acquisition of more than 1 per cent of shares in Lian Beng, it was required to extend a mandatory offer.

The offer price represents a premium on the last traded price of 47 Singapore cents on June 11, the last trading day, the announcement said.

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

Kena forced selling by Ong family! Accepted the offer via electronic form submission and switches recovered capital to cover Olam right issue. 

Bought $0.575 and mandatory offer @ $0.5 . Realized capital loss $0.25

Net gains after 13 yrs of sucking Panadols from Ong family is 1.8% annual yield. Worse than CPF OA 2.5% compound interests. KNS!


3 comments:

  1. Can make some kopi money if bought before news release

    ReplyDelete
  2. I invested previously into Lianbeng. I sold out after going to their AGM. Didn't really like the management way. Anyway, I think this deal is not very shareholder friendly (depending on how you see it)

    ReplyDelete
  3. Heng ah
    Heng ah.... I averaged down during the 2020 meltdown and quickly sold.







    ReplyDelete

Related Posts with Thumbnails