Portfolio restructuring.
1) Forise has disposed off some of its garment manufacturing facilities. The disposal is $1.
This is significant to Forise as the entities disposed has a negative assets of RMB$100 over million, and carrying debts amounting to above RMB$200 million. After the disposal, NTA will increase from negative RMB5.59cts to positive RMB1.69 cts.
2) With a share capital of 2.13 billion shares and closing price of 1.6cts on 7th Oct, its market capital will be $34 million. To exit from watchlist, Forise got to be profitable & a market cap of above S$40 million.
3) Following the disposal of assets, Forise will NOT be a cash company. Its garment trading business will be operating. Forise has divested into providing strategic planning, corporate advisory, financial restructuring advisory and management consulting services. This will allow the shares of the company to continue trading.
Potential Catalyst
1) Forise Group MAY inject businesses into Forise Int. During EGM, a shareholder asked if Forise is the only listed entity of the whole of Forise businesses. The CEO replied "yes".This implied that there might be a chance that Forise Group might inject businesses into Forise Int just like what CEFC did.
2) Jin Liqun, President of China Fortune Management Fifty Persons Forum and Chairman of China International Capital Corporation Limited and former Deputy Minister of Ministry of Finance, officially issued member qualification certificate of “China Fortune Management Fifty Person Forum” to Wang Xin. In terms of reputation wise, Wang Xin has the reputation in the chinese community.
3) Of course, getting out of watchlist.
1) Forise has disposed off some of its garment manufacturing facilities. The disposal is $1.
This is significant to Forise as the entities disposed has a negative assets of RMB$100 over million, and carrying debts amounting to above RMB$200 million. After the disposal, NTA will increase from negative RMB5.59cts to positive RMB1.69 cts.
2) With a share capital of 2.13 billion shares and closing price of 1.6cts on 7th Oct, its market capital will be $34 million. To exit from watchlist, Forise got to be profitable & a market cap of above S$40 million.
3) Following the disposal of assets, Forise will NOT be a cash company. Its garment trading business will be operating. Forise has divested into providing strategic planning, corporate advisory, financial restructuring advisory and management consulting services. This will allow the shares of the company to continue trading.
Potential Catalyst
1) Forise Group MAY inject businesses into Forise Int. During EGM, a shareholder asked if Forise is the only listed entity of the whole of Forise businesses. The CEO replied "yes".This implied that there might be a chance that Forise Group might inject businesses into Forise Int just like what CEFC did.
2) Jin Liqun, President of China Fortune Management Fifty Persons Forum and Chairman of China International Capital Corporation Limited and former Deputy Minister of Ministry of Finance, officially issued member qualification certificate of “China Fortune Management Fifty Person Forum” to Wang Xin. In terms of reputation wise, Wang Xin has the reputation in the chinese community.
3) Of course, getting out of watchlist.
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