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Offical Sim Leisure Group Ltd

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Old 25-02-2019, 10:45 AM   #1
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Offical Sim Leisure Group Ltd

https://www.financialmtc.com/sim-leisure-group-ltd/

avoid at all cost
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Old 25-02-2019, 03:22 PM   #2
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Thanks for the warning.
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Old 25-02-2019, 08:34 PM   #3
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Seems that the planning was done last year

https://www.straitstimes.com/busines...gapore-listing

Barely 1 year of incorporation in SG...
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Old 01-03-2019, 11:58 PM   #4
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Exclamation Sim Leisure Group opens on trading debut at $0.17 apiece, 23% down from IPO price

Sim Leisure Group opens on trading debut at $0.17 apiece, 23% down from IPO price


https://www.straitstimes.com/busines...-down-from-ipo



SINGAPORE - Penang theme park developer Sim Leisure Group (SLG) made its Catalist debut on the Singapore bourse on Friday (March 1), opening at $0.17 apiece - 22.7 per cent lower than its initial public offering (IPO) price of $0.22 per share.

As at 10.04am on Friday, the counter was trading at $0.168 apiece.

SLG on Thursday placed out 26.4 million shares at $0.22 apiece to raise a total of $5.81 million. The bulk of its IPO proceeds, or $5.6 million, will be used to fully redeem outstanding preference shares held by state government entity, Penang Development Corp, the group said.

The IPO placed about one-fifth of the company in public hands, while Sim Leisure Group founder and chief executive Sim Choo Kheng and his spouse Silviya Georgieva will hold a combined 78.4 per cent stake.

In response to a query from The Business Times on Thursday, SLG said it had from the outset prioritised redeeming its outstanding redeemable convertible preference shares held by Penang Development Corp with the IPO proceeds, stating this order of priority in its preliminary prospectus.

"In view that the total gross proceeds is approximately $5.81 million, the use of proceeds was updated accordingly and none of the gross proceeds from the placement would go towards expansion and working capital purposes," SLG said.

"Nevertheless, the group is confident that this would not have a material adverse impact on its operations and business plans," it added.

Under an investment agreement inked in 2016 to finance one of the group's two parks, Penang Development Corp holds two million preference shares, with a maturity date in June 2021. The investment agreement also gives Penang Development Corp the right to take over all of the group's principal subsidiary, in the event of a payment default or certain other conditions.

The offer document noted that one risk to business is how SLG has previously relied on external financing, such as the Penang Development Corp share issuance, as well as shareholders' loans, to fund its capital expenditure. This led to a negative working capital position as at both Dec 31, 2017 and June 30, 2018, it said.

SLG runs two theme parks in Penang - Escape Adventureplay and Escape Waterplay - with a third set to open in the first half this year. The group also has plans to expand into China and South-east Asia, with Bangkok, Jakarta, Manila and Ho Chi Minh City named as potential sites.

Commenting on the firm's listing, chief executive Mr Sim said: "Today marks another milestone in our quest to revolutionise and disrupt the conventional theme park business model. Listing on the Singapore Exchange (SGX) will increase our visibility, and provide us with the impetus to scale our business model into new markets across the region that are awaiting a new genre of affordable and healthy family entertainment."

Separately, SGX's head of equity capital markets, Mohamed Nasser Ismail said: "In this region, the rise in spending power, tourism as well as infrastructure investments could bode well for the theme and amusement park industry. We look forward to supporting the group as it embarks on new growth milestones in Malaysia, as well as expands into new markets in Asean and China."

SLG has a market cap of about $30 million.
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Old 03-03-2019, 11:42 AM   #5
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Dec 28, 2018:
https://www.straitstimes.com/busines...gapore-listing

Proceeds from the deal will be used to fund Sim Leisure's expansion of existing theme park operations and venture into new regions, such as China and other South-east Asian cities. The company also plans to expand its business through joint ventures and strategic alliances.
Mar 1, 2019
https://www.straitstimes.com/busines...-down-from-ipo

In response to a query from The Business Times on Thursday, SLG said it had from the outset prioritised redeeming its outstanding redeemable convertible preference shares held by Penang Development Corp with the IPO proceeds, stating this order of priority in its preliminary prospectus.

"In view that the total gross proceeds is approximately $5.81 million, the use of proceeds was updated accordingly and none of the gross proceeds from the placement would go towards expansion and working capital purposes," SLG said.
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Old 03-03-2019, 01:41 PM   #6
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SGX still allow it to list without query/investigation.
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Old 04-03-2019, 09:38 AM   #7
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Up lorry stock, debut alrrady major dumping.
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Old 04-03-2019, 08:17 PM   #8
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SGX still allow it to list without query/investigation.
Yes

Up lorry stock, debut alrrady major dumping.
Since the motives of IPO are known now...
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Old 04-02-2020, 09:04 PM   #9
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Sim Leisure to bring ESCAPE theme parks to Sri Lanka

Sim Leisure to bring ESCAPE theme parks to Sri Lanka

https://www.theedgesingapore.com/new...arks-sri-lanka

SINGAPORE (Feb 4): Catalist-listed theme park developer and operator Sim Leisure Group is marking its foray into new geographic regions with an entry into Sri Lanka.

The Penang-based group on Tuesday announced the signing of a non-binding memorandum of understanding with Elpitiya Plantations to bring its ESCAPE theme parks to Sri Lanka.

Elpitiya is an associated company of blue chip conglomerate Aitken Spence. Both companies are listed in Sri Lanka.

Under the agreement, Elpitiya will sublease land for the project while Sim Leisure will develop and operate theme parks under its ESCAPE brand.

The group has been granted preliminary approval to commence construction on the theme park. Barring unforeseen circumstances, Sim Leisure aims to commence construction of ESCAPE Sri Lanka in March 2020.

Sim Leisure and Elpitiya expect to sign a definitive agreement in relation to ESCAPE Sri Lanka later this month, including the entry into a strategic joint venture partnership.

ESCAPE Sri Lanka will be located halfway between Colombo city and the main beach resort of Galle, a city on the Southwest coast of Sri Lanka.

Sri Lanka's Tourism Ministry is aiming to attract four million tourists to the island-nation in 2020 – more than double the number of arrivals in 2019.

The country is also eyeing tourism revenue of US$5 billion ($6.8 billion) this year to spearhead an overall economic revival.

“I see tremendous opportunity in the Sri Lankan market with its population of over 20 million,” says Sim Choo Kheng, CEO of Sim Leisure. “We will have the first-mover advantage of building the first world-class attraction in Sri Lanka. Unlike many parts of East Asia, Sri Lanka has tremendous untapped potential for family leisure and a highly-educated population hungry for success.”

“Sri Lanka is one of few countries which is unspoilt and green. The country’s unpolluted coastline and beaches bring tourists from all over the world and its tourism industry is growing at an incredible pace,” he adds. “Furthermore, the cost of doing business in Sri Lanka is relatively low.”

Shares in Sim Leisure closed 2.3% higher, or up 0.5 cent, at 22 cents on Tuesday, before the announcement.
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