Elite KSB   

Elite KSB

Luckily did not buy as prewarned.Those who bought for the CD recently got short changed.

Hope not many kena whacked for following blindly.Still end of the day do yr own homewk.

evahsu      ( Date: 09-Sep-2013 10:33) Posted: I find this counter is good for those who had invested long time ago and enjoyed many rds of dividend. currently company is selling all its assets to distribute back the $ to shareholders.It is basically a shell now.It may not be prudent for new investors to jump in just to reap the 6.6c dividend.The  risk  is not being able  to collect  yr investment capital at the end of the day and it is a illiquid stock.

 

Why the sudden butchery? Good time to buy in? Bounce back from this fall in short term? Advise plz?

 

Close shop with cash around 8.4cents..per share....so trade with care...

luketoh      ( Date: 06-Nov-2013 13:17) Posted: Chicken got slaughtered???

 

Chicken got slaughtered???

 

Reference

Distribution Pte Ltd, Jordon International Food Processing Pte Ltd, Soonly Food Processing Industries Pte Ltd and Safa Gourmet Food Pte Ltd (the ?

Company on 31 October 2012.

Capitalised terms used herein shall have the definitions ascribed to them in the Circular, unless otherwise stated or the context otherwise requires.

Upon and following the completion of the Disposal on 31 October 2012, the Company became a cash company within the meaning of Rule 1018 of the Listing Manual. The SGX-ST had on 5 October 2012

granted its approval for the trading of the Shares to be maintained subject to the Company?s satisfaction of the conditions set out in paragraph 7 of the Circular.

Paragraph 7 of the Circular provides

(a) the Company shall be required to meet the requirements of a new listing within 12 months from the date of completion of the Disposal (the ?

(b) the Company may apply to the SGX-ST for a maximum six (6)-month extension to the Relevant Period subject to the Company providing milestones in finding a new business which investors

may evaluate the Company?s progress and

(c) in the event the Company is unable to meet its milestones, or find a new business despite the time extension granted, no further extension will be granted and the Company will be required

to delist and make a cash exit offer in accordance with Rule 1309 to its Shareholders within six (6) months from the date of expiry of the six (6)?month extension period.

The Company had been actively exploring various options and met with many potential target businesses but the Company has not been able to identify a suitable target for investment. Hence, the

Company is not able to meet the requirements of a new listing within the Relevant Period. The Company has not been granted any extension of the Relevant Period.

Accordingly, in accordance with Rule 1018 of the Listing Manual, the SGX-ST will be entitled to proceed to remove the Company from the Official List.

It is the Company?s intention to distribute its cash back to Shareholders and thereafter undertake a voluntary liquidation. The Board has noted that pursuant to paragraph 7 of the Circular, a cash exit

offer should be offered to Shareholders in accordance with Rule 1309.

The Board will further update Shareholders through announcements as appropriate.

 

  is made to the circular dated 12 October 2012 to shareholders of Elite KSB Holdings Limited (the ?Company?) in relation to the disposal of the entire issued and paid-up share capital of KSBDisposal?), and the announcement released by theinter alia:-Relevant Period?)

 

Pocket CR 6.6c earlier than the Co's payment date (30/10). Left 1/3 to try my luck!

  Huat arh......

 

 

CE 6.6c

Ex : 18/10 (this Friday)

 

NOTICE IS HEREBY GIVEN that the Transfer Books and Register of Members of the Company will be closed at 5.00 p.m. on 22 October 2013 (the Books Closure Date) for the purpose of determining the Shareholders entitlements to the cash distribution of S$0.066 per ordinary share in respect of the capital reduction by an approximate amount of S$8.94 million.

Shareholders registered in the Register of Members of the Company and Depositors whose Securities Accounts maintained with the Central Depository (Pte) Limited (CDP) are credited with Shares as at 5.00 p.m. on 22 October 2013 will be considered for purposes of the cash distribution relating to the Capital Reduction on the basis of the number of such Shares registered in their names or standing to the credit of their Securities Accounts as at the Books Closure Date.

 

 

PROPOSED CAPITAL REDUCTION AND CASH DISTRIBUTION

 

Capitalised words which are not defined in this announcement shall carry the same meanings ascribed to them in the announcement dated 18 June 2013 and circular to shareholders dated 2 August 2013.

The Board of Directors of Elite KSB Holdings Limited (the "

The Company has lodged a statement pursuant to Section 78E(2) confirming the above and a notice containing the information of the Capital Reduction with ACRA on 11 October 2013.

The Cash Distribution relating to the Capital Reduction is expected to be paid to entitled Shareholders on or about 30 October 2013. Company" ) wishes to announce that the Company has complied with all the requirements under Sections 78C(1) and the solvency requirements under Section 78(C)(3) of the Companies Act with regard to the Capital Reduction and that no application for the cancellation of the special resolution relating to the Capital Reduction has been made under Section 78(D) of the Companies Act during the 6-week period beginning with the date of the special resolution for the Capital Reduction.

WanSiTong      ( Date: 06-Sep-2013 21:11) Posted: Following this ..................... 6.6c Huat arh...........     WanSiTong      ( Date: 06-Sep-2013 21:08) Posted: PROPOSED DISPOSAL OF 75% EQUITY INTEREST IN KSB CHINA HOLDINGS PRIVATE LIMITED - COMPLETION Capitalised words which are not defined in this announcement shall carry the same meanings ascribed to them in the announcement dated 18 June 2013 and circular to shareholders dated 2 August 2013. Further to the extraordinary general meeting held on 29 August 2013, the Board of Directors of Elite KSB Holdings Limited (the " BY ORDER OF THE BOARD   Company" ) is pleased to announce that the disposal of the Company?s entire 75% equity interest in KSB China has been completed on 6 September 2013 and accordingly, KSB China has ceased as a subsidiary of the Company.

 

deadman stock....avoid.

 

WanSiTong      ( Date: 12-Sep-2013 12:37) Posted: Hope Elite KSB will announce the double good news (CR & RTO) soon............ The Good News are Worth Waiting For! Huat Arh.....

 

Hope Elite KSB will announce the double good news (CR & RTO) soon............

The Good News are Worth Waiting For! Huat Arh.....

 

After that........hmmm............ this time must dream Big Big!.........hope it can fly like APS!!

  Lol.........Day dream !

WanSiTong      ( Date: 09-Sep-2013 10:38) Posted: Next major news will be the RTO..........

 

Next major news will be the RTO..........

 

I find this counter is good for those who had invested long time ago and enjoyed many rds of dividend.

currently company is selling all its assets to distribute back the $ to shareholders.It is basically a shell now.It may not be prudent for new investors to jump in just to reap the 6.6c dividend.The  risk  is not being able  to collect  yr investment capital at the end of the day and it is a illiquid stock.

 

I have confidence in  this Co! Look at the background of the CEO & the Board: (Go 2012 AR pg 8 & 9 to see the photo of the Director. You will know who he is! Look very alike, right  !!) Don't Play play !! haha..........

Chew Ghim Bok

Chief Executive Officer

Chew Ghim Bok, BBM, joined our Group in 1999. As the Chief Executive Officer, he is responsible for the strategic direction and the general management of our Group. Upon graduation from the University of Liverpool (UK) with an honours degree in Computer Science in 1981, Mr Chew joined the Telecommunication Authority of Singapore as a systems analyst. In 1983, he founded ProData Computer Systems Pte Ltd (later became Jardine Onesolution (2001) Pte Ltd) and was its Managing Director until 2000. In 1994, he set up a software company Alberg Consulting Pte Ltd, and an investment company GB Ventures Pte Ltd a year later. Mr Chew was awarded the Public Service Medal (PBM) in 2005 and the Public Service Star Medal (BBM) in 2012 by His  xcellency, The President of the Republic of Singapore.

(Side note : Understand that he made quite a lot from the sale of ProData Computer Systems to Jardine Group.)

Tan Boon Huan Peter

Independent Director

Tan Boon Huan Peter joined our Company as an Independent Director in 2003. He is the cofounder and Managing Partner of SkyVen Asset Management Pte Ltd, a private equity firm. Prior to that, Mr Tan held senior marketing, product development, alliance development and operations consulting roles at MasterCard International. Formerly a corporate and retail banker with DBS Bank Ltd and a corporate lawyer at Messrs Shook Lin & Bok, he graduated with a Bachelor of Laws (Honours) degree from the National University of Singapore, and has been admitted as an Advocate and Solicitor of the Supreme Court of Singapore. He also holds a Masters in Business Administration from the University of San Diego.

 

Extracted from Elite KSB 2012 AR:

Our Products

We offer a wide range of chicken, beef and lamb products from our halal plant at 6 Senoko Way. Our fresh chicken products are processed from live chickens imported from farms in Malaysia that are accredited by the Agri-food and Veterinary Authority of Singapore (?AVA?). They are then distributed as a wide range of fresh and superior quality whole dressed chickens and chicken parts. Our marinated whole chickens and chicken parts come in various popular recipes. For consumers? convenience, we also provide a broad range of frozen thawed chicken products in various preferred cuts. Our high quality ready-to-cook chilled beef and lamb are neatly  packed in choice portions. These are processed centrally from beef and lamb imported from Australia. Our halal products are certified by MUIS. In addition, our halal operations are supervised for on-going compliance by PERGAS Multipurpose Co-operative, the business arm of the Singapore Islamic Scholars and Religious Teachers? Association, giving our Muslim customers added peace of mind. Our pork products are processed at our plant in 13 Woodlands Loop from high quality chilled pork airflown from Australia. They are sold in a variety of choices from half pork sides to convenient tray packs in various cuts. Apart from these, we also manufacture and supply a wide range of popular smallgoods such as sausages, hams and other gourmet specialities. Our products are widely available in supermarkets such as Cold Storage, Shop N Save, NTUC FairPrice and Sheng Siong under their in-house brands as well as our own. Besides supermarkets, our customers also include hotels, restaurants, chicken rice stalls, food service providers, wet market stalls and fast food chains such as Kentucky Fried Chicken and Texas Chicken.

Our Services

Our subsidiary, Soonly, is one of ten licensed chicken slaughterhouses in Singapore. Its highly automated facilities have the capacity to slaughter up to 80,000 chickens per day. Its customers include KSB Distribution and other fresh chicken distributors who do not have their own slaughtering facilities. Processing an estimated 25% of Singapore?s daily demand for fresh chickens, Soonly prides itself as being the first chicken slaughterhouse to have its food safety system certified under SPRING?s HACCP Certification Scheme. Jordon International Food Processing, our subsidiary that supplies pork and smallgoods, also provides storage facilities for term storage of frozen goods to third-parties. Its cold store facilities are equipped with a state-of-the-art automated storage and retrieval system (ASRS) that ensures efficient and reliable warehousing services.

Investments

As part of our Group?s diversification and growth strategy, we invest in promising companies engaged in businesses aligned with our interest. These currently include Shouguang Zhonghui Organic Feed Co., Ltd, Qingdao Dragon Wise Feed Company Limited, Linyi Zhonghui Lianhang Feed Co., Ltd , Linyi Taihe Zhonghui Feed Co., Ltd. and WeiFang Gen Yuan Food Trading Co., Ltd. All of them have their business interests in the People?s Republic of China.

Planned Disposal of Subsidiaries

The Company has on 21 May 2012 entered into a conditional sale and purchase agreement with Kendo Trading Pte Ltd. On 10 August 2012 and 19 September 2012, it entered into two separate supplemental agreements, to dispose of the entire issued and paid-up share capital in each of its wholly owned subsidiaries, KSB Distribution Pte Ltd, Jordon International Food Processing Pte Ltd, Soonly Food Processing Industries Pte Ltd and Safa Gourmet Food Pte Ltd. If this is successfully completed, the Group will cease to have any interest in the meat processing business. The Group will however continue to be engaged in  investment holding while the management looks for new businesses.

javascript:showDocns_7_2AA4H0C098FQE0I104R8P12OL5_(" 3675" , " IPO New Listings" )

 

 

tea444u      ( Date: 05-Sep-2013 13:18) Posted: nothing like dat...money is from sale of subsidiaries...one of which is Jordan that had been in the pork supply biz....so ... I cannot buy loh.... WanSiTong      ( Date: 05-Sep-2013 05:57) Posted: Bro, May we know what does it regarding? Hmmm....  very serious shareholder / potential SH hor

 

http://infopub.sgx.com/Apps?A=COW_CorporateAnnouncement_Content& B=AnnouncementToday& F=909573& fileId=EliteKSB_Annt_Completion-of-Disposal.pdf

 

Following this .....................

6.6c



Huat arh...........

 

 

WanSiTong      ( Date: 06-Sep-2013 21:08) Posted: PROPOSED DISPOSAL OF 75% EQUITY INTEREST IN KSB CHINA HOLDINGS PRIVATE LIMITED - COMPLETION Capitalised words which are not defined in this announcement shall carry the same meanings ascribed to them in the announcement dated 18 June 2013 and circular to shareholders dated 2 August 2013. Further to the extraordinary general meeting held on 29 August 2013, the Board of Directors of Elite KSB Holdings Limited (the " BY ORDER OF THE BOARD   Company" ) is pleased to announce that the disposal of the Company?s entire 75% equity interest in KSB China has been completed on 6 September 2013 and accordingly, KSB China has ceased as a subsidiary of the Company.