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Market Leaks: CHC Shadow Banking

chonburifc

Alfrescian (Inf)
Asset
If you go through the 2013 annual report, care has been taken to cover all the kar chngs, and this include "losses" in the new core financial service business. :biggrin:
 

Faker

Alfrescian
Loyal
Vibrant Group Limited (formerly known as Freight Links Express Holdings Limited)
<iframe src="http://www.freightlinks.net/about-us/corporate-profile" width="100%" height="600"></iframe>
 

Faker

Alfrescian
Loyal
Board of Directors

<iframe src="http://www.freightlinks.net/about-us/board-of-directors" width="100%" height="600"></iframe>
 

chonburifc

Alfrescian (Inf)
Asset
Counter today and yesterday machiam not much movement leh. Will go below 0.1 or not?
 
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Runifyouhaveto

Alfrescian
Loyal
Counter today and yesterday machiam not much movement leh. Will go below 0.1 or not?

paiseh because that day they happily announced that the $$$-raised for the recent issue, is used for financing investments and general working capital.

Everyone assumes nothing happened/wrong, so no more action.
 

kaipoh

Alfrescian
Loyal
I hope what you have extrapolated is true, my wet dream dream girl, serena wee has chance to escape, will not be the jailbird and marred by those poodle.
She will repent and revert to serve us. Huat Ah! :smile:

The 2 top guys seems quite charitable. Maybe kong con them?
 

Runifyouhaveto

Alfrescian
Loyal
This is so cool.
http://www.jlcadvisors.com/karen.html

Acted for the City Harvest Church in their S$50 million loan facility granted by a private company to, inter alia, finance the acquisition of a substantial stake in Suntec Convention Centre and the refinancing of the same by a subsidiary of the Vibrant Group Limited.
 

Kuailan

Alfrescian
Loyal
The court don't have to waste time and money on CHC case its out right swindle and cheat,
lock those bastards Kong Hee Fatt Choi /Wife Horse Sun Ho accomplice and his cronies
in Changi Bungalow for life!

If there is Shariah law in Sickapoor those bastards would have been stone to death already!

But no need for that just lock those bastard cheaters and swindlers for Life!!
 

Faker

Alfrescian
Loyal
The court don't have to waste time and money on CHC case its out right swindle and cheat,
lock those bastards Kong Hee Fatt Choi /Wife Horse Sun Ho accomplice and his cronies
in Changi Bungalow for life!

If there is Shariah law in Sickapoor those bastards would have been stone to death already!

But no need for that just lock those bastard cheaters and swindlers for Life!!

At most 10 years each. :biggrin:
 

lifeafter41

Alfrescian (Inf)
Asset
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?

Can this be consider as 挂羊头,卖狗肉 deal?.

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.

Even more interesting is that a lot of people is hungry for yield
FRN at only 4.6%

Even OCBC and DBS preference share gives better yield, at 5.1% and 4.75% respectively.
Very difficult to see the rationale.
 
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Narong Wongwan

Alfrescian (Inf)
Asset
At most 10 years each. :biggrin:

Dun count on it....
Horse face Sun Whore not even indicted.....
Con Hee with his 33k gong cb followers might strike a deal with vile pappies.

Freight Links could be in cahoots with Con Hee or just a normal greedy vulture doing business....you won't turn down free money also....focus on vile Con Hee instead.
 

escher

Alfrescian (Inf)
Asset
Time for pappies to plug the loopholes.

RELY ON FUCKING BIG TIME CROOKS TO STOP SMALL TIME CROOKS IS IT?

FUCK YOU!!


GET RID OF THE POISON IN SINGAPORE
HANG ALL THOSE FUCKING PAPs AND THEIR COLLABORATORS
BBQ THE BASTARD PAPs

AND SINGAPORE CAN BE AS GOOD IF NOT BETTER THAN SWITZERLAND

OR REMAIN HEAD DOWN DOWN AND ARSEHOLES UP HIGH HIGH TO BE FUCKED TO BE TIEWED TO BE KANNED BY THE PAP MAGGOTS COCKROACHES
Kill them all PAPs
Let GOD sort out the good from the really bad ones
The good PAPs can then eat joss sticks and candle wax from time to time
The bad PAPs like smear of shit on sole of shoe LKY will be raped and tiewed and kanned by legions of ghouls and demons and not ever
get time off to eat joss sticks and candle wax

Hang those PAP maggots cockroaches with piano wires from lamp posts to make them dance before it is too late and we have no more CPF to get back.

BBQ those PAP maggots cockroaches before it is too late and we have no more CPF to get back.

Cut a few more arseholes into those PAP maggots cockroaches to let out their shit before it is too late and we have no more CPF to get back.

Make those PAP maggots cockroaches eat joss sticks and candle wax before it is too late and we have no more CPF to get back.


None of those in PAP work for anyone but that smear of shit on sole of shoe LKY, to help him hold down Singaporeans to screw and fuck hundreds of BILLIONs from us all into smear of shit on sole of shoe LKY stinkapore sovereign funds.

They are there in PAP because LKY know that they are a bunch of self serving greedy bastards and scrapings of scums of society. To call them maggots cockroaches will be to insult real maggots and real cockroaches.
LKY will never allow good decent people into the PAP and good decent people will not want to get into the PAP.

Those in PAP are the most corrupt and moral degenerates and moral bankrupts and moral filths that are being presented to stinkaporeans as moral compasses.

Despite the leeching and fucking of singaporeans by the cheebye PAP and LKY, Singapore still managed to survive to date.
Despite their being hung as a fucking millstones around the necks of Singaporeans and the idiocy and corrupt manipulations of PAP and LKY, Singapore still not dead yet.

WE ALL ARE NOW WAITING FOR THE DEATH OF LKY IN COMING DAYS OR WEEKS.
WE ALL WILL YUM SENG AND YUM SENG AND YUM SENG AGAIN AND AGAIN DANCING SINGING ON TABLE TOPS AND STREETS

WE THEN WILL SEE THOSE IN PAP WITH SHARPENED KNIVES HOOTING ARSEHLOON A DOZEN NEW ARSEHOLES AND THE DEATH OF THE ENTIRE LEE KWA CLAN

WE THEN WILL PICK UP PIANO WIRES AND HANG ALL THOSE REMAINING PAP AND THEIR COLLABORATORS FROM LAMP POSTS AND SEE THOSE BASTARDS AND BITCHES DANCE.
AND HAPPINESS WILL RETURN TO OUR LAND.

AND STINKAPORE WILL BECOME SINGAPORE ONCE MORE.
 

congo9

Alfrescian
Loyal
If i can get a commercial loan at an interest of 2.9% per year, why should not i extend a loan to CHC at 10% interest per year ? I be more then happy as a boss to lend him the money. I give my KIA GIA who got this lobang for my company a raised immediately !
 

Runifyouhaveto

Alfrescian
Loyal
City Harvest Church’s former fund manager Chew Eng Han was again singled out yesterday as the person who had suggested the bond investments at the heart of the criminal trial involving six church leaders.

John Lam Leng Hung — one of the accused and the defence’s first witness — named Chew — a fellow accused who has since left the church — as the one who had proposed investing in Indonesian glassware company PT The First National Glassware (Firna).
http://www.todayonline.com/singapore/chc-trial-fund-manager-singled-out-again-suggesting-sham-bonds

124 now
 

Runifyouhaveto

Alfrescian
Loyal
so nice

20140715_serinawee_st.jpg



1394695278_810000040-Black%20(1).jpg
 
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