Hehehe. Got hint or not? Main board or secondary one? Or at least give an alphabet leh.
100m quite alot of money.
100m quite alot of money.
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Market Leaks: CHC Shadow Banking
- Thread starter Runifyouhaveto
- Start date
CHC are con church.
Before or 10 year ago is the most cash rish church in Singapore.
Now are in deep shit debt because of the investment in horse face music and buying Suntec conventional hall at high interest rate.
Interest rate are nearly tripple the market rate. So something wrong right ??? Why interest rate so high???
Before or 10 year ago is the most cash rish church in Singapore.
Now are in deep shit debt because of the investment in horse face music and buying Suntec conventional hall at high interest rate.
Interest rate are nearly tripple the market rate. So something wrong right ??? Why interest rate so high???
You have already come so far. Why not take one more small step and reveal what you know to the authorities, if you think what they did was wrong?
hahaha....draw simi line???
bullshit say bullshit lah.....
I would like to assure you that some of us here already know the company based on my description of their corporate actions. 100m + 100m to be exact, as they placed out another tranche last year.
The whole point is to let DBS say it or MAS. Then the company will truly be punished.
Look, the share price has been dropping for a few days since DBS learnt about it. Brother, if it just simply comes from my mouth, most prob, some of our brothers here will get join in the fun but then the big-boys will trap us and the share will go up instead of down.
You see, i am not the first to know. As each day passes, more and more come to know about it. just within a few days, we saw a consistent drop in share price; yesterday, it even gap-up at opening but continued to close negative at intraday lows. This tells you are large shareholders are also trying to get out by distributing their holdings through the creation of fake buyers' interests.
It takes a another Satan to defeat the Satanists. Let the problem infect as many as possible and more will be accused of not exposing this evil earlier. There is no way to hide this problem, I want to see how many bankers and auditors truly think that they are almighty and able to hide this secret. Hahaa, I tell you, they can't sleep for the past few days.
Don't be evil.
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Thank you for your understanding brother.
Please also see my explanation above too. Insiders are systematically offloading now. Not only they gap-up at opening to fake buying demand yesterday, my associates told me that they put up 3000-4000lots of buy queue at some prices (to fake buy-queue) and when unknowing buyer queued in front of them, the buyer will get hit (trapped).
Hahaa, in the end, insiders eat insiders. The thousand-lots fake buy-queue got hit by their own friends who betrayed them. The poor chap ended up owning more shares instead of systematically offloading.
You see, the evil-doers need to sink deeper to either run away or prevent the problems from being exposed.
Our Lord needs no banker.
interesting....Will PAP cover this up?
as if the authorites do NOT know
http://atans1.wordpress.com/2013/09/29/freight-links-loaned-45m-to-chc-months-after-issuing-bonds/
[h=2]Freight Links loaned $45m to CHC months after issuing bonds[/h]<small style="margin: 0px 0px 2em; padding: 0px; border: 0px; outline: 0px; font-style: italic; font-size: 0.86em; font-family: 'normal Georgia', serif; vertical-align: baseline; display: block; text-align: center; color: rgb(153, 153, 153); line-height: 1.166em;">In Corporate governance, Humour on 29/09/2013 at 10:28 am</small>A sharp-eyed TRE reader wrote to TRE as follows
Straits Times article dated 27 Sep reported on a $45 million new loan taken out by City Harvest Church (CHC). The loan was not taken from any financial institution but a logistics company listed on the Singapore Exchange called Freight Links Express Holdings (FLEH).
FLEH’s core business is in freight forwarding. To offer a loan of this size suggests its core business may have changed. Have shareholders been notified? At 8 per cent per annum, the interest charged by FLEH is also quite high. But I guess CHC is desperate and will grab anything that comes along because no financial institution will offer a religious organisation a $45 million loan to purchase properties based on expected future ‘earnings’ from worshippers.
What is interesting is that FLEH had managed to raise $100 million in a Fixed Rate Note issue bearing an interest rate of 4. 6 per cent just 4 months ago.http://www.freightlinks.net/MediaRelease/Press54.pdf These IOUs are normally used for general corporate purposes and financing investments related to its core business, certainly not for loans.
Business wise, it certainly does make sense to be earning 8 per cent while paying only 4.6 per cent without taking any risk.
However, this will set a precedent for every other listed companies on the exchange to stray from their core business. Should this be allowed by the Singapore Exchange?
Phillip Ang
Surprising that our journalists from our “constructive”, nation-building media did not raise this corporate governance issue. Waiting for govt media briefing or telephone call to tell them what to say?
While I’m sure the transaction is perfectly legal, there is the governance issue of whether a logistics provider should become a lender to a church, albeit for a sum which is “peanuts” in the context of its financials. And there is the issue of the bond issue: normally used for general corporate purposes and financing investments related to its core business, certainly not for loans.
Restores my faith in the quality of people who read and post on TRE. Glad to see that not all readers and posters are “PAP are bastards” ranters. Maybe, they moved on to TOC or TRS?
http://atans1.wordpress.com/2013/09/29/freight-links-loaned-45m-to-chc-months-after-issuing-bonds/
[h=2]Freight Links loaned $45m to CHC months after issuing bonds[/h]<small style="margin: 0px 0px 2em; padding: 0px; border: 0px; outline: 0px; font-style: italic; font-size: 0.86em; font-family: 'normal Georgia', serif; vertical-align: baseline; display: block; text-align: center; color: rgb(153, 153, 153); line-height: 1.166em;">In Corporate governance, Humour on 29/09/2013 at 10:28 am</small>A sharp-eyed TRE reader wrote to TRE as follows
Straits Times article dated 27 Sep reported on a $45 million new loan taken out by City Harvest Church (CHC). The loan was not taken from any financial institution but a logistics company listed on the Singapore Exchange called Freight Links Express Holdings (FLEH).
FLEH’s core business is in freight forwarding. To offer a loan of this size suggests its core business may have changed. Have shareholders been notified? At 8 per cent per annum, the interest charged by FLEH is also quite high. But I guess CHC is desperate and will grab anything that comes along because no financial institution will offer a religious organisation a $45 million loan to purchase properties based on expected future ‘earnings’ from worshippers.
What is interesting is that FLEH had managed to raise $100 million in a Fixed Rate Note issue bearing an interest rate of 4. 6 per cent just 4 months ago.http://www.freightlinks.net/MediaRelease/Press54.pdf These IOUs are normally used for general corporate purposes and financing investments related to its core business, certainly not for loans.
Business wise, it certainly does make sense to be earning 8 per cent while paying only 4.6 per cent without taking any risk.
However, this will set a precedent for every other listed companies on the exchange to stray from their core business. Should this be allowed by the Singapore Exchange?
Phillip Ang
Surprising that our journalists from our “constructive”, nation-building media did not raise this corporate governance issue. Waiting for govt media briefing or telephone call to tell them what to say?
While I’m sure the transaction is perfectly legal, there is the governance issue of whether a logistics provider should become a lender to a church, albeit for a sum which is “peanuts” in the context of its financials. And there is the issue of the bond issue: normally used for general corporate purposes and financing investments related to its core business, certainly not for loans.
Restores my faith in the quality of people who read and post on TRE. Glad to see that not all readers and posters are “PAP are bastards” ranters. Maybe, they moved on to TOC or TRS?
willthe whistle blower be suedif any?
It is not buay-swee, the last time you mentioned about another hot issue, company in food industry exposed to high rentals in trouble, nothing happened also what. It's more buay-joon and not buay-swee.
Wah, you selectively pick a few lines out of my past post to smear me buay-joon. I said the company is planning to list, it haven't list how u identify it leh? I even gave u the specifics of the food it is selling n bought over a larger bakery chain so that financial boutiques can shore up their accounts.
Dont need like that mah, You want me to show u the post again?
Friend, what's your motive? Why so harsh? Buay-swee right?
Starting a church cult in SG seems a good business opportunity. All you need is deception, a glib tongue and just promises of heaven to every one. No tithes, no passport to heaven; give more, God loves you more. How do I know? Gods talks to me. There will dimwits giving you money like no body's business.
Similar to those jihad militants. Brainwashed till they cannot see what is black and what is white.
I reiterate that there is nothing wrong lending money to another organization, hahaa they even covered their backside by including financial services in their new business scope.
In a way, those in the know, just wants to giving DBS a chance to "highlight" it first.
Time for pappies to plug the loopholes.
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