Table 2_Major shareholders raise stake in Moya above entitlement

Moya’s major shareholders raise stake (13 Jul 2018)

On 6 Jul and 9 Jul, there were separate announcements on SGX that Tamaris Infrastructure (Salim controlled vehicle and major shareholder) and Gateway have raised their stake in Moya. What is so interesting about this?   Proposed rights at $0.095 at no discount On 22 May 2018, Moya announced that it is proposing renounceable non-underwritten rights issue to raise funds for a) Finance its Build, Operate and Transfer projects; b) Loan repayment; c) Potential acquisition   There are three main interesting aspects on this rights issue, namely: 1.The rights were issued at no discount Typically, when a company issues rights, […]

STI chart as of 24 Jun 16

Ernest’s market outlook (24 Jun 16)

Dear readers, Are you burnt in the aftermath of THE BREXIT? What should you do now? To cut loss, hold or buy more? Before you make the decision, it is good to consider the various markets and how they are likely to fare in the next two weeks.   S&P500 Index Just to recap what I have mentioned on 10 Jun 2016 (see HERE), I wrote “Given the low ADX, S&P500 may trade between 2,034 – 2,106 (barring Brexit on 23 Jun 2016).” –> Although Brexit happens, S&P500 reached an intraday low of 2,033 on last Fri, just 1 point […]