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Post by oldman on Feb 26, 2014 13:57:02 GMT 7
Guess, this is better than nothing...... ------------- General Magnetics Limited (Co. Reg. No. 197300630H) (Incorporated in the Republic of Singapore) NOTICE OF DIVIDEND Notice is hereby given that the Board of Directors of the Company has declared an interim dividend of 0.3 cents per ordinary share for the financial year ended 31 December 2013 payable to shareholders who are registered in the Company’s register of members as at 5:00 p.m. on 3 March 2014, rounded up to the nearest one-hundredth of a dollar; and where the dividend computed for a shareholder in accordance with its shareholdings in the Company is less than one cent, the amount of dividend payable shall be one cent. The transfer book and register of members of the Company will be closed after 5:00 p.m. on 3 March 2014 to 7 March 2014 for the preparation of dividend warrants. Duly completed registrable transfers of the ordinary share in the capital of the Company received by the Company’s share registrar, KCK CorpServe Pte Ltd, at 333, North Bridge Road, #08-00, KH KEA Building, Singapore 188721, up to 5:00 p.m. on 3 March 2014 will be registered to determine members’ entitlements to the interim dividend. Payment of the interim dividend will be made on or about 28 March 2014. Board of Directors 25 February 2014 www.genmag.com.sg/documents/GenMagnoticeofdividendinnewspapersenglish20140225.pdf
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Post by oldman on Jun 17, 2014 17:58:06 GMT 7
Annual report for FY ended Dec 2013 Probably the most important part of the report is the valuation of the General Magnetics Building at $20 mil. Another aspect worth keeping an eye on are the assets held for trading investments which have climbed from $2.12 mil last year to $3.37 mil. These are investments in equity linked notes, quoted equity investments and quoted debt securities. Hopefully, they will decide to sell their investment property soon and dish out the cash. Cash is at $4.7 mil and trading investments at $3.4 mil. Total compensation of directors and management is constant at around $500K a year. With 100 mil shares in issue, every $1 mil of assets is worth 1ct to each shareholder. ---------------- At the reporting date, the fair value of the property is $20,000,000. The fair value of the property is based on desktop valuation by Asian Appraisal Company Pte Ltd, an independent valuer with a recognised and relevant professional qualification and with recent experience in the location and category of the properties being valued. General Magnetics 2013 annual report
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casey
Junior Member

Posts: 6
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Post by casey on Jun 18, 2014 8:30:39 GMT 7
Probably the most important part of the report is the valuation of the General Magnetics Building at $20 mil. The $20m valuation is for the "Investment Property" portion of the building. In 2011, 68% (in value) of the building is transferred from PPE to "Investment Property". As such, the valuation for the whole building should be $20m/0.68 = $29.4m.
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Post by oldman on Jun 18, 2014 8:39:18 GMT 7
Casey, you got me there! Yes, it is not easy to do proper research on a delisted company as the past annual reports are not readily available. This makes sense as I was trying hard to figure out why they listed the General Magnetics building under PPE and yet, also declare the value of the property under investment property. Thanks for the correction. For your info, a few months ago, I met up with Mr Oh and in passing, I asked him if he will be interested in any offers around $20 mil and he hinted that he was looking for much more. He is well aware of the value of the key property.  General Magnetics 2011 annual reportProbably the most important part of the report is the valuation of the General Magnetics Building at $20 mil. The $20m valuation is for the "Investment Property" portion of the building. In 2011, 68% (in value) of the building is transferred from PPE to "Investment Property". As such, the valuation for the whole building should be $20m/0.68 = $29.4m.
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casey
Junior Member

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Post by casey on Jun 18, 2014 11:22:00 GMT 7
I've mistakenly used the "Group" numbers instead of the "Company" level numbers you've posted above. The "Group" numbers will include the value of the other properties in Malaysia, which is not correct. The amended valuation should be $20m/($10.1/$13.1) = $25.8m. Thanks for the correction too! 
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