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

July 15, 2018 el15

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, […]

Hatten Land – extremely oversold RSI 15; Analyst TP: $0.435 vs closing price $0.183 (23 May 17)

May 24, 2017May 24, 2017 el15

Hatten Land has dropped 39% from an intraday high of $0.300 on 28 Feb 2017 to close $0.183 on 23 May 2017. What has caused the sharp decline? Where is the bottom? Possible reasons for the decline Personally, I believe the recent decline may be attributed in part to the following: a) Hatten reported losses for its 3QFY17 results due mainly to the RM87.8m expenses incurred in relation to the professional fees and acquisition costs arising from the Reverse Takeover exercise (“RTO”). It is noteworthy that these expenses are once off and non-cash in nature [click HERE for Hatten’s […]