<TABLE id=msgUN cellSpacing=3 cellPadding=0 width="100%" border=0><TBODY><TR><TD id=msgUNsubj vAlign=top>Coffeeshop Chit Chat - HoleJinx: OH NO! ABC KIAM CHYE KI LORRY!</TD><TD id=msgunetc noWrap align=right>
Subscribe </TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE cellSpacing=0 cellPadding=0 border=0><TBODY><TR class=msghead><TD class=msgF noWrap align=right width="1%">From: </TD><TD class=msgFname noWrap width="68%">Lola (Langusta) <NOBR></NOBR> </TD><TD class=msgDate noWrap align=right width="30%">Nov-4 7:38 pm </TD></TR><TR class=msghead><TD class=msgT noWrap align=right width="1%" height=20>To: </TD><TD class=msgTname noWrap width="68%">ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 18) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft width="1%" rowSpan=4> </TD><TD class=wintiny noWrap align=right>2147.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>http://business.theage.com.au/business/abc-learning-teeters-on-the-edge-20081105-5i2b.html
ABC load up lorry liao. What HoleJinx touches turns to SHIT and DIES. TONG TONG CHANG!!
So how much of *our* money Hole Jinx "die-vested" in ABC? A$401.5m + another 8mil shares at A$2.14?
Here's a recap of Hole Jinx's ABC fiasco:
Temasek buys 12% of ABC
http://www.smh.com.au/news/business/temasek-buys-12-per-cent-of-abc/2007/05/29/1180205251681.html
http://research.iress.com.au/IDS/old/20070529/00725179.pdf
("...Temasek subsidiary Everitt Investments spent $401.5 million to take up a placement of new shares in ABC Learning" AU$1 = S$1.3)
Temasek increases stake in ABC Learning
http://www.abc.net.au/lateline/business/items/200802/s2176356.htm
("...It's been revealed Temasek Holdings raised its stake from more than 12 per cent to nearly 15 per cent.
It bought 8 million shares on Tuesday at the bargain price of $2.14 each. " ... HAHAHA BARGAIN PRICE! But what is $2.14 x ZERO? AU$1 = S$1.4)
Doubt lingers for ABC and D for debt
http://business.theage.com.au/business/doubt-lingers-for-abc-and-d-for-debt-20080911-4er7.html
("The accounts are expected to provide a treasure trove of information for litigation funder IMF, which is preparing a class action against ABC based on materially misstated earnings over previous years and bullish forecasts that "had no reasonable basis"."
"The sale of its assets in the current market may not realise enough to cover the debt."
"The Singapore Government investment fund, Temasek, ABC's second-largest shareholder, would not be drawn on the latest controversy. "We are a financial investor and are not involved in the operational aspects of the business," said head of corporate affairs Daliea Mohamad. "The company has its own independent management team and they are answerable to the board.")
<HR><!--<headline>-->ABC Learning teeters on the edge <!--</headline>-->
The Federal Government has set up a task force to ensure families are not adversely affected by any changes to the nation's biggest child-care provider.
In a statement today, ABC Learning said it was continuing discussions with stakeholders including banks and the federal government to secure the future of its operations.
"All parties appreciate that the operation of ABC child-care centres is a major issue for communities throughout the country,'' the statement said. "The primary objective is to ensure that families across the country continue to have access to quality childcare and that staff have a secure future.
Keen interest
Ms Gillard said the government was monitoring developments closely.
"While it is not appropriate for the government to comment on an individual organisation's structural or financial situation, the government obviously takes a keen interest in the provision of child care in Australia,'' Ms Gillard said.
"The government recognises that ABC (Learning) is working through detailed processes to provide information to the market and public.
"The government's first priority is working families and their children and ABC Learning employees.''
Union concerned
Also today, the union representing early childhood workers has called on ABC Learning and the federal and state governments to end uncertainty surrounding the future of the child-care giant.
Liquor, Hospitality and Miscellaneous Union national secretary Louise Tarrant expressed concern at reports ABC Learning directors were on the verge of appointing an administrator, saying it was time for governments to step in to ensure centres continue to operate.
"If administration does occur then it is imperative that the administrator and governments work together to ensure continuity of service for families and workers,'' Ms Tarrant said in a statement.
"These centres provide an essential service for families, a service that is essential for families financially and for the wellbeing of their children.''
Ms Tarrant also called on ABC Learning, which runs 1200 centres across Australia and New Zealand, to issue a statement about its status immediately to end speculation.
"Child-care professionals working at ABC Learning are committed to providing quality child care, however, they have financial responsibilities themselves,'' she said.
"The protracted and growing uncertainty about the company's future has also been stressful for them.''
AAP
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ABC load up lorry liao. What HoleJinx touches turns to SHIT and DIES. TONG TONG CHANG!!
So how much of *our* money Hole Jinx "die-vested" in ABC? A$401.5m + another 8mil shares at A$2.14?
Here's a recap of Hole Jinx's ABC fiasco:
Temasek buys 12% of ABC
http://www.smh.com.au/news/business/temasek-buys-12-per-cent-of-abc/2007/05/29/1180205251681.html
http://research.iress.com.au/IDS/old/20070529/00725179.pdf
("...Temasek subsidiary Everitt Investments spent $401.5 million to take up a placement of new shares in ABC Learning" AU$1 = S$1.3)
Temasek increases stake in ABC Learning
http://www.abc.net.au/lateline/business/items/200802/s2176356.htm
("...It's been revealed Temasek Holdings raised its stake from more than 12 per cent to nearly 15 per cent.
It bought 8 million shares on Tuesday at the bargain price of $2.14 each. " ... HAHAHA BARGAIN PRICE! But what is $2.14 x ZERO? AU$1 = S$1.4)
Doubt lingers for ABC and D for debt
http://business.theage.com.au/business/doubt-lingers-for-abc-and-d-for-debt-20080911-4er7.html
("The accounts are expected to provide a treasure trove of information for litigation funder IMF, which is preparing a class action against ABC based on materially misstated earnings over previous years and bullish forecasts that "had no reasonable basis"."
"The sale of its assets in the current market may not realise enough to cover the debt."
"The Singapore Government investment fund, Temasek, ABC's second-largest shareholder, would not be drawn on the latest controversy. "We are a financial investor and are not involved in the operational aspects of the business," said head of corporate affairs Daliea Mohamad. "The company has its own independent management team and they are answerable to the board.")
<HR><!--<headline>-->ABC Learning teeters on the edge <!--</headline>-->
- November 5, 2008 - 11:41AM
The Federal Government has set up a task force to ensure families are not adversely affected by any changes to the nation's biggest child-care provider.
In a statement today, ABC Learning said it was continuing discussions with stakeholders including banks and the federal government to secure the future of its operations.
"All parties appreciate that the operation of ABC child-care centres is a major issue for communities throughout the country,'' the statement said. "The primary objective is to ensure that families across the country continue to have access to quality childcare and that staff have a secure future.
Keen interest
Ms Gillard said the government was monitoring developments closely.
"While it is not appropriate for the government to comment on an individual organisation's structural or financial situation, the government obviously takes a keen interest in the provision of child care in Australia,'' Ms Gillard said.
"The government recognises that ABC (Learning) is working through detailed processes to provide information to the market and public.
"The government's first priority is working families and their children and ABC Learning employees.''
Union concerned
Also today, the union representing early childhood workers has called on ABC Learning and the federal and state governments to end uncertainty surrounding the future of the child-care giant.
Liquor, Hospitality and Miscellaneous Union national secretary Louise Tarrant expressed concern at reports ABC Learning directors were on the verge of appointing an administrator, saying it was time for governments to step in to ensure centres continue to operate.
"If administration does occur then it is imperative that the administrator and governments work together to ensure continuity of service for families and workers,'' Ms Tarrant said in a statement.
"These centres provide an essential service for families, a service that is essential for families financially and for the wellbeing of their children.''
Ms Tarrant also called on ABC Learning, which runs 1200 centres across Australia and New Zealand, to issue a statement about its status immediately to end speculation.
"Child-care professionals working at ABC Learning are committed to providing quality child care, however, they have financial responsibilities themselves,'' she said.
"The protracted and growing uncertainty about the company's future has also been stressful for them.''
AAP
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