A bid too far
Article Abstract:
The takeover bid of Singapore building firm Guthrie GTS (GGTS) for building contractor L and M Group Investments Ltd. (LMGI) ended in controversy after LMGI released on Mar 23, 1992, an accounting for six months ending in Dec 1991, that showed a net loss of S$6.3 million with a provision for S$8.1 million in possible losses. GGTS had only to increase its shares from 34.7% to 51%, but ended up with 89.8%. Under a prior agreement, underwriters Nomura Securities and Smith New Court took up the 38.8% (13.4 million shares) shares of stock, which closed at S$1.60 from the S$1.68 purchase price.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Now for the sale
Article Abstract:
The government-owned Singapore Telecommunications has been split into the Singapore Post and the Singapore Telecom International (STI) prior to listing of shares. State-owned MinCom Holdings is expected to retain controlling shares, while a certain percentage will be reserved for local and foreign investors. Singapore Telecommunications has already won projects in Thailand, Sri Lanka and India, and funds to be obtained from privatisation will further improve its capacity to win more contracts.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Searching for value
Article Abstract:
Singapore's stock market will rise into 1995. It is no longer cheap relative to other markets, but should rise 20% in 1994. Singapore Telecom's offering should expand the market by about 20%. The market is still narrow, but emerging companies offer an alternative to banking and real estate, especially manufacturing, which is often overlooked. Singapore firms did come late to the China market, but in missing its boom they avoided the renminbi's slide.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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