Iowa was already among 12 states that have detected bird flu in poultry since the beginning of the year. The other states are Arkansas, Idaho, Kansas, Minnesota, Missouri, Montana, North Dakota, Oregon, South Dakota, Washington and Wisconsin.
-take note, not just Iowa, a lot of US place has detected and since the beginning of the year. It is just US at the moment.
Type Announcement Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS Description TEO SENG CAPITAL BERHAD ("TEO SENG" OR" COMPANY")
(A) PROPOSED ACQUISITION ; AND
(B) PROPOSED DISPOSAL The Board of Directors of Teo Seng (“Board”) wishes to announce that Premium Egg Products Pte Ltd ("PEPP"), a wholly-owned subsidiary of Teo Seng, had today entered into:-
1. a conditional sale and purchase agreement (“SPA”) with Oceantrade Foods Pte Ltd, Loi Teck Heng (“LTH”), Low Sook Cheng and Lee Yee Gee (collectively known as “Vendors”) to acquire 1,400,000 ordinary shares in BH Fresh Food Pte Ltd (“BHFF”), representing 100% of the equity interest in BHFF (“Sale Shares”) from the Vendors for a total cash consideration of SGD9.80 million (equivalent to approximately RM26.40 million) (“Purchase Consideration”) ("Proposed Acquisition") ; and
2.a conditional agreement to dispose off the business and certain assets of BHFF, on an “as is where is” basis, to L M Meat Pte Ltd (“Disposal Agreement”) for a cash consideration of SGD1.8 million (equivalent to approximately RM4.85 million) (“Disposal Consideration”) ("Proposed Disposal") .The list of the disposal assets is set out in Section 3.1 of this announcement. The Proposed Acquisition and Proposed Disposal (collectively referrred to as "Proposals") are inter-conditional upon each other and shall be completed concurrently.
Accordingly, the Proposals essentially involve the acquisition by the Teo Seng Group, via PEPP, of the Property (as defined in Section 2.1 below) to further expand its business operations in Singapore as the business and certain assets of BHFF which amongst others, are acquired pursuant to the Proposed Acquisition will be disposed pursuant to the Proposed Disposal.
Please refer to the attachment for the further details of the Proposals.
Teo Seng to buy Singapore factory for RM26.4m to further expand its biz there
By Sulhi Azman / theedgemarkets.com | April 24, 2015 : 8:39 PM MYT Share on facebookShare on twitter Printer-friendly versionSend by emailPDF version KUALA LUMPUR (Apr 24): Teo Seng Capital Bhd ( Financial Dashboard)'s wholly-owned subsidiary Premium Egg Products Pte Ltd (PEPP) is acquiring entire interest in loss-making BH Fresh Food Pte Ltd (BHFF) for S$9.8 million (RM26.4 million) cash, which owns a factory with cold, freezer and chiller rooms in Singapore.
In a filing with Bursa Malaysia today, Teo Seng (fundamental: 1.9; valuation: 2.1) said Singapore-based BHFF is involved in production, processing, preserving and wholesaling of meat and meat-related products. It currently uses the Singapore factory as a central kitchen to produce ready-to-eat products for hotel and restaurants as well as retailing in its Mmmm! chain of specialty shops.
PEPP today signed a conditional sale and purchase agreement with Oceantrade Foods Pte Ltd (57.86%) and three Singaporeans – Loi Teck Heng (33.57%), Low Sook Cheng (1.43%) and Lee Yee Gee (7.14%) – (collectively known as vendors) to acquire their respective interest in BHFF.
PEPP also signed a conditional agreement with the vendors to dispose of the business and certain assets of BHFF, on an “as is where is” basis, to L M Meat Pte Ltd for S$1.8 million (RM4.85 million) cash.
Teo Seng said the proposed acquisition and disposal are inter-conditional upon each other and shall be completed concurrently. The proposals are expected to be completed during the financial year ending Dec 31, 2015.
"The proposals essentially involve the acquisition by Teo Seng Group, via PEPP, of the property to further expand its business operations in Singapore," said Teo Seng.
It added that the purchase of BHFF will be partly set-off against the proceeds from the proposed disposal. The balance will be funded via internal funds and/or bank borrowings.
Teo Seng said the proposals are in line with the group’s plan to expand its marketing network and customer base overseas. It has been operating in the Singapore market for 10 years.
"The proposals enable the group to expand its business operations by acquiring the property as a distribution centre to cater for the increasing demand for Teo Seng Group’s products in Singapore. It is the intention of the group to focus on its core business in Singapore which is trading or distributing of fresh shell eggs," it added.
For the financial year ended Dec 31, 2014, BHFF recorded a net loss of S$54,000 (RM1.45 million) with an unaudited net assets of S$70,000 (RM1.89 million).
Teo Seng shares closed 1.5% lower at RM1.97 today, giving it a market capitalisation of RM591 million.
monde, you seen not really believe what I say, last time ask you all run but you all say good ar raise woh. Haiz....Say down then no believe me, say up then no believe also. Sad....
Just I say yesterday "If tomorrow drop, then will got ppl "complain" again, but if raise no prize for me also. :)" So zhun! Hey jupiter, you always want see 业绩, if 业绩 come out not good how? Totally cut loss? Try think about it, now is time to accumulate more.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Vaylens Chong
1,120 posts
Posted by Vaylens Chong > 2015-04-21 18:06 | Report Abuse
Dun worry, Be happy. :)