You are clueless. HDB price went up because of him? If he is that inflential, he would have retired much earlier instead of hanging on the MP job.
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Mah Bow Tan Retiring From Politics After Decades of Meritorious Service!
- Thread starter JohnTan
- Start date
You are clueless. HDB price went up because of him? If he is that inflential, he would have retired much earlier instead of hanging on the MP job.
Another $68-million burden to taxpayers!
The real reason why he is retiring is because he is fearful of his Hainanese bro. This bro is very tua kong. Even NGO in HK kowtow to him. Now he is boss of his own party and see himself very the up.
http://www.nextinsight.net/index.ph...n-ups-stake-far-east-is-new-major-shareholder
GSH CORP: Mah Bow Tan ups stake, Far East is new major shareholder
Source: GSH annual report 2013
Mah Bow Tan. File photoFORMER CABINET minister Mah Bow Tan, 65, has increased his stake in GSH Corporation, becoming its No. 5 biggest shareholder.
The newly-released 2013 annual report shows that Mr Mah owned (as at 18 Mar 2014) 365,575,000 shares with a current market value of about S$28 million (based on stock price of 7.7 cents).
In the 2012 annual report, his shareholding was 165,000,000 shares and he was the No.6 largest shareholder.
The increase can largely be attributed to a 1-for-1 rights issue that took place in May 2013.
It appears that Mr Mah subscribed for his entitlement of 165 million rights shares and successfully applied for 35,575,0000 excess rights shares that were not subscribed by other shareholders.
If the latter did not actually take place, then it follows that Mr Mah bought the 35,575,000 shares on the open market.
Mr Mah first appeared in the top 20 shareholder list of the 2012 annual report of GSH (previously JEL Corporation).
It was in year 2012 that Sam Goi was appointed the new chairman, and GSH was set on diversifying into property development as its core IT distributor business was not giving good returns.
Aside from Mr Mah, another notable item in the 2013 shareholder list is the emergence of Far East Organization as a substantial shareholder with a stake of 5.06 per cent.
This is held through investment vehicle Goodview Properties, which bought 500 million shares in August 2013 at 7.25 cents apiece in a married deal.
GSH CORP: Mah Bow Tan ups stake, Far East is new major shareholder
- Details
- Written by Leong Chan Teik
- Published: 09 April 2014
The newly-released 2013 annual report shows that Mr Mah owned (as at 18 Mar 2014) 365,575,000 shares with a current market value of about S$28 million (based on stock price of 7.7 cents).
In the 2012 annual report, his shareholding was 165,000,000 shares and he was the No.6 largest shareholder.
The increase can largely be attributed to a 1-for-1 rights issue that took place in May 2013.
It appears that Mr Mah subscribed for his entitlement of 165 million rights shares and successfully applied for 35,575,0000 excess rights shares that were not subscribed by other shareholders.
If the latter did not actually take place, then it follows that Mr Mah bought the 35,575,000 shares on the open market.
Mr Mah first appeared in the top 20 shareholder list of the 2012 annual report of GSH (previously JEL Corporation).
It was in year 2012 that Sam Goi was appointed the new chairman, and GSH was set on diversifying into property development as its core IT distributor business was not giving good returns.
Aside from Mr Mah, another notable item in the 2013 shareholder list is the emergence of Far East Organization as a substantial shareholder with a stake of 5.06 per cent.
This is held through investment vehicle Goodview Properties, which bought 500 million shares in August 2013 at 7.25 cents apiece in a married deal.
Currently, GSH is developing three properties in Kuala Lumpur and Kota Kinabalu. It also owns a 77.5% stake in Sutera Harbour Resort in Kota Kinabalu, comprising two 5-star hotels -- the Pacific Sutera and Magellan Sutera Resort, a 104-berth marina and 27-hole championship golf course. GSH said the property business will start contributing in the current financial year. It did not specify which project but the only project that is mentioned for launch this year is the The Vista @ Sutera, a high-end residential condo development alongside the Sutera Harbour Resort. The ocean-front project would be launched in the second half of this year with a gross floor area of 1.3 m sq ft (net sellable area: 1.1 m sq ft). If sales turn lively, GSH will have a chance to justify the market cap of S$760 million that it currently commands. However, it is puzzling how GSH would be able to recognise revenue and profit from The Vista @ Sutera this year since overseas projects are only recognised upon completion -- instead of by the progressive method for residential projects in Singapore. In any case, GSH needs to do much better than the US$1.2 million loss attributable to shareholders last year. Its 2013 revenue was US$89.4 million, a 12.9% decline year-on-year, and derived completely from its IT distribution business |
A public servant who spent most of his career in government can amass so much money.
Pap still say not corruption hahaha
Pap still say not corruption hahaha
This "loser" won several elections thereafter, and even beat Capt. Goh Meng Seng despite making tough but unpopular decision for national housing policies. He was even a Minister. In contrast, loser Chiam never rose beyond that of a backbench MP who played no role in crafting or deciding of national policies.
Who the fark is CST?
His is a clown and PM LHL the bigger clown...Both of them screwed up the building numbers of HDB
flats for the past 5 years..Whether is is deliberate to enhance the value of HDB flats OR it is a way to tie Singaporeans up and let them be mortgage slaves throughout their lives.
In one year they build the highest number of HDB flats to make up for the drastic shortfall...
Also, how is it that our Chief Executive, PM LHL does not tally his number rightly..if he wants an increase in population, surely he must be aware that there must be enough housing units to put them in..
oUR lives are much worst off with him as our PM for the past 10 years..
WE NEED A CHANGE.
In the early 2000s, HDB flats were depressed because there were simply too many of them. Minister Mah did the right thing to build very little flats for the next few years. This allowed buyers like myself to buy cheap and then watch happily as the price of my property appreciated year by year. Thanks to Minister Mah, I sold my HDB at a huge profit and upgraded my flat, with lots of excess cash to boot.
Thank you Mr Mah for your many years of contribution to Singapore.
Well, in the first place he was the one who screwed up big time by overbuilding.
He was the one who caused the accident and SGs are now going to suffer for the next 50 years.
MBT is over-rated. Also, his interest is always self before country/voters. Only an idiot believes he contributed to the country.
On top of that a large proportion of time had been used in the acquisitions instead of performing his duties. That's how he fucked up the whole HDB.
Where's the screw up?
His plan to overbuild depressed HDB flat prices for many years, which benefited tens of thousands of families who bought cheap during those years. Those same families also benefited when housing demand went up, causing their properties to appreciate several-fold.
A recent article also showed that sinkies still think HDB BTO flats are a great bargain, as majority of them are willing to pay above BTO prices.
a pubic master of the sillypootians who spent most of his career in gavberment
sure to amass much much money ,
and have the free time and energy to attend to many many personal businesses.
why like that one ?
because those below are awarded handsomely to go along with the system.
like making a mahjong adviser a director in 60 over companies.
Title should read Mah Bow Tan Retiring From Politics After Decades of Sucking Stinkaporeans dry and get paid billions for it!
Former Minister for National Development Mah Bow Tan confirmed that he will be stepping down and will not be running in the coming general election.
MP Mah announced this during a national day dinner for Tampines GRC. Mah was Minister for MND up till 2011. As housing shortages became a major bugbear for the ruling party during GE2011, Mah was stripped of his Ministerial position and replaced by current MND Minister Khaw Boon Wan.
- More at AllSingaporeStuff.com http://www.allsingaporestuff.com/article/ex-mnd-minister-mah-bow-tan-stepping-down-politics
You HDB dweller ah! Alamak, you talk as if you are my next door neighbor at Nassim.
nothing unusual ,astonishing that u 'managed ' to buy hDb penthouse unit cheap cheap.
many many 'connected' cock suckers also have that privilege.
my fiend working in Piss Ass ltd also 'managed' to buy one just before scum increased
the price heftily.
he got a job title that dont relate to the work he did.
i would said his rank in the company is a junior one.
