Familee Uses Peasants' $ to Subsidize Capita Maul! Fark!

[makapaaa]

In other words, use your money to keep rentals high! CCB until like this!


<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published March 14, 2009

</TD></TR><TR><TD vAlign=top width=452 colSpan=2>FairPrice sub-underwrites CapitaMall rights issue
It will take up to 27m rights units if issue is not fully subscribed

By JAMIE LEE
<TABLE class=storyLinks cellSpacing=4 cellPadding=1 width=136 align=right border=0><TBODY><TR class=font10><TD align=right width=20> </TD><TD>Email this article</TD></TR><TR class=font10><TD align=right width=20> </TD><TD>Print article </TD></TR><TR class=font10><TD align=right width=20> </TD><TD>Feedback</TD></TR></TBODY></TABLE>SINGAPORE'S largest supermarket chain NTUC FairPrice has agreed to spend as much as $22.1 million to buy up to 27 million rights units in CapitaMall Trust (CMT) if the issue is not fully subscribed.

<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD> </TD></TR><TR class=caption><TD>SUB-UNDERWRITING ROLE
As a sub-underwriter, NTUC FairPrice will receive a fee of $332,100, or 1.5 per cent of the price for the 27 million rights units</TD></TR></TBODY></TABLE>The sub-underwriter arrangement comes under a standby purchase agreement. The 27 million units represent about 1.8 per cent of the rights units that have been offered by CMT and, if fully allocated to NTUC FairPrice, will raise its substantial stake from 6.35 per cent to 7.3 per cent. This also assumes that the groceries retailer fully subscribes for its own entitled rights shares.
As a sub-underwriter, NTUC FairPrice will receive a fee of $332,100, or 1.5 per cent of the price for the 27 million rights units.
The standby purchase agreement was inked between NTUC FairPrice and the joint lead managers and underwriters.
CMT said that the commission that NTUC FairPrice earns is part of the commission paid to the joint lead managers and underwriters - DBS and JPMorgan.
<TABLE cellSpacing=0 cellPadding=5 align=left border=0><TBODY><TR><TD bgColor=#ffffff>[FONT=Geneva, Helvetica, Verdana, Arial, sans-serif]<!-- REPLACE EVERYTHING IN CAPITALS WITH YOUR OWN VALUES --><TABLE class=quoteBox cellSpacing=0 cellPadding=0 width=144 align=left border=0><TBODY><TR><TD vAlign=bottom>

</TD></TR><TR><TD bgColor=#fffff1><TABLE cellSpacing=0 cellPadding=0 width=124 align=center border=0><TBODY><TR><TD vAlign=top>NTUC FairPrice has been a substantial unitholder of CMT.
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</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>Early last month, CMT announced a nine-for-10 rights issue to raise $1.23 billion.
The 1.5 billion units are to be issued at 82 cents apiece. Most of the funds raised would be to repay borrowings, CMT had said.
NTUC FairPrice has been a substantial unitholder of CMT since the trust was listed in 2002.
The supermarket was set up by unionists in the 1970s to 'help moderate the cost of living for low income households in Singapore', its website said.
NTUC FairPrice's group net profit after contributions for the year ended March 31, 2008, fell 23.8 per cent to $63.3 million from $83.1 million. This followed higher contributions to Singapore Labour Foundation.
Total cash in its coffers stood at $290 million as at end-March 2008, compared with $224 million a year earlier.
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[halsey02]

'kar ki lang', Guang Xi....right pocket to left pocket to back pockets, to shirt pockets and then to the hidden pocket in the bra or underwear!!

 

[commoner]

like that also,,,

wtf,,,, who is the CB Miniskirt on NTUC? SHIT SAY again and who else huh?

KNN,,,,, it is becoming a joke after Govt say no bailout

 

[R4g3]

'kar ki lang', Guang Xi....right pocket to left pocket to back pockets, to shirt pockets and then to the hidden pocket in the bra or underwear!!

move here move there, but in the end money go where?

 

[commoner]

recently it was reported that Capitalland is giving out millions of dollars of CapMall Vouchers for their management staff,,,, now looking at NTUC bailout,,,,, CCB

 

[halsey02]

recently it was reported that Capitalland is giving out millions of dollars of CapMall Vouchers for their management staff,,,, now looking at NTUC bailout,,,,, CCB

Can't you see?, all around the mulberry bush?!! Capital Mall gives NTUC vouchers to shop at NTUC fairprice outlets..left out right in, & into secret pockets in the bra & underwear...

 

[borom]

Again uniquely Singapore-the trade union is suppose to represent and fight for workers rights- what is it doing underwriting a company?
I wonder what the members of the NTUC thought about this-starting with Halimah.