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Thread: Anyone bought CLOB shares in the 90's?

  1. #21

    Default Re: Anyone bought CLOB shares in the 90's?

    Quote Originally Posted by Jedi View Post
    So there was a resolution given? You managed to sell your holdings off and even made a profit. Can you tell us how did you manage to sell your shares? Transferred to which company and then sell through which channel?
    uncle that was like soooo many years ago. I dont remember the details so I googled. I think chose the waiting... I mean I waited for like 2 years so what is 10 more months.

    http://stocktaleslot.blogspot.sg/2006/03/clob-saga.html

    Finally in early 2000 the two exchanges worked out a scheme of arrangement for letting CLOB investors trade out of their misery, where investors were offered two options, both of which involved releasing of CLOB shares on a staggered basis over >10 months, reflecting the KLSE's abovementioned concerns of a share glut should all be released at one go. The faster scheme involved payment (something like 2% upfront) of higher administrative fees to a Malaysian company, Effective Capital, which was linked to Malaysia's then-Finance Minister Daim Zainuddin, an indication of how business operates in Malaysia. CLOB investors were strongly urged by the Malaysian side to opt for the Effective Capital scheme. Although there were calls for this to be referred to the WTO given the rather unfair scheme of arrangement and rather threatening tones adopted by the Malaysian authorities to CLOB investors to accept the proposed schemes, it appears that ultimately the CLOB investors had been worn down sufficiently by the two-year impasse to succumb and sell off at huge losses. For a US$4.5B CLOB position (believe it was measured at 2000 market prices based on KLSE), Effective Capital offered US$1.5B to "take over the risk" of holding the long position. One knows that given its government links, it would have no problem disposing of this entire line eventually in the KLSE.

  2. #22

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    This is another good reason y LKY always saying don't trust the MY, in the midst of MY properties buying frenzy....

  3. #23

    Default Re: Anyone bought CLOB shares in the 90's?

    LKY is almost history. Singapore has a new government, even though it is led by his son. Relationship between SG and MY has also changed.

    In case you haven't realized, the SG government is heavily invested in MY. If this so called "frenzy" really fails, a large part of SG's $$$ will also go down.

  4. #24

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    Quote Originally Posted by Priscilia View Post
    LKY is almost history. Singapore has a new government, even though it is led by his son. Relationship between SG and MY has also changed.

    In case you haven't realized, the SG government is heavily invested in MY. If this so called "frenzy" really fails, a large part of SG's $$$ will also go down.
    We invest heavily in MY doesn't mean anything. It doesn't mean MY is a better place now.

    MY only waiting to makan us.

  5. #25

    Default Re: Anyone bought CLOB shares in the 90's?

    Quote Originally Posted by Simon_84 View Post
    agreed, never really bother with penny s-chips.
    since i started last year, the REITS i'll bought, have been giving out decent dividends quarterly between 5% to 6%.
    congratulations! you have done better than professional fund managers. at 5% to 6% return quarterly, you rate it 'decent'!
    Last edited by reachme2003; 11th December 2014 at 10:29 AM. Reason: rephrase and additions.

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