Global Investments

Read an article on Straits Time today talking about this counter is to be one which may be undervalued..... Hence i decided to exam further. Reported assets of $324 million in last financial year not longer accurate. I dig further into the HF09 result. Good Things. 1. Liabilities cut from 167 million in FY08 to current 33.6 million. Only debt remaining in the Group is the asset debt against the two 757 planes 2. Cash and equivalents 29.4 million + Available for Sales financial asset 13.4 million more than cover the total liabilities. 3. Net Assets = $139 million = S$0.35 per share versus current price of S$0.20 4. Interim Dividend is $0.02 which gives a 10% yield without consideration of final dividend. 5. Income: 59% AUD, 18% EUR, 23% USD. Strengthen AUD will provide a boost. 6. Bulk of Loan and Securitisation Asset are in Australia. Bad Point. 1. Still holding operating assets in the US in the airline and rails. 2. Operating Cashflow negative for last quarter. Finally decided to take a small position based on the following; a)discount to book value of S$0.35 b)High dividend yield of at least 10% c)Result likely to improve with financial cost from largely reduced loan. d)A ride on the fast recovery of Australia market. Do share your view on this counter. Cheers... erelation

After reading today\'s company announcement.... decided to add a few more lots to my holding. Interesting facts; 1. economic cash income 1H09 is 2.4 cents per share. 2. Interim Dividend is 2 cents per share. 3. Retained Earning is 0.4 cents per share. 4. Only debt remaining in the Group is the asset debt against the two 757 planes. 5. NAT is $0.35 vs current price of $0.21. If we are able to obtain similar 2 cents per share for final dividend. It will be 4 cents per share vs 21 cents current price. This implied a dividend yield of 19%. Does current action from AGSO implied a bidding war in the making or the share is undervalued by the market? Do your own analysis.... 2 November 2009 FURTHER CORRESPONDENCE FROM AGSO PROPERTY PTY LIMITED The Board of Directors (the “Board”) of Global Investments Limited (the “Company” or “GIL”) wishes to announce that it has today received a letter (“the letter”) from AGSO Property Pty Limited (“AGSO”) (in its capacity as trustee for the Babcock & Brown Prime Broking Trust), which holds 54,393,086 ordinary shares representing approximately 13.85 per cent of the Company’s issued share capital. The letter makes reference to the earlier requisition notice from AGSO (“the Requisition Notice”) received on 8 October 2009 for the convening of a Special General Meeting (“SGM”) of the Company’s shareholders for the purpose of: (a) removing Babcock & Brown Global Investments Management Pty Limited as manager of the Company; and (b) appointing an entity which will be controlled by Pengana Holdings Pty Limited, as the new manager of the Company. The letter indicates that AGSO does not accept the Board’s view that the removal and recommendation of the replacement manager to be voted on by the shareholders is a matter for determination by the Board, not the Shareholders, and therefore, AGSO again requests that the Company acts on the Requisition and convenes a SGM as set out in the Requisition. AGSO has reserved its rights in the letter with respect to the Requisition Notice and the enforcement of convening the SGM as requested, including but not limited to its right to convene a shareholders’ meeting itself. The Board is reviewing the content of the letter and is seeking advice from its Singapore and Bermuda legal counsel as to the appropriate next steps, and will provide shareholders with a further update in due course.

Warren Buffet >> Burlington Railways Berkshire Hathaway is paying $26 billion to acquire the 77 percent of Burlington Northern Santa Fe. And he is doing with 60% Cash & 40% Stocks and No thanks to Investment Bankers. He just made and offer and it was accepted. Does this implied that GIL also has potential? GIL has a 41.5% equity interest in Babcock & Brown Rail North America Pty Ltd (“BBRNA”) which owns a fleet of over 13,000 railcars for lease in North America with over 60 lessees • Asset have been fully written down to nil due to worsened outlook of BBRNA and the sector. (great potential for write back and increase of NTA) • Portfolio expected to be up to 30% off lease by end of 2009 • Nov 08 desktop valuations confirmed that the valuation of the combined BBRNA portfolio declined by 3.6% against the Nov 07 valuations BABCOCK & BROWN RAIL INVESTMENTS (BBRIL) GIL has a 35% equity interest in Babcock & Brown Rail Investments Pty Ltd (“BBRIL”) • BBRIL owns CBRail Leasing Group, an operating lessor with portfolio of 3 passenger train fleets, over 30 locomotives and 100 freight wagons in mainland Europe • Fleet operated by both public and private sectors in countries such as Germany, Belgium, Holland and Denmark • 100% of lease rental is contracted for FY09, no arrears at 13 August 2009 - limited sign of downturn affecting CBRail’s portfolio to date • Demand for new freight cars in some sectors starting to weaken as general economic conditions worsen •Asset written down to a nil balance due to equity accounting resulting from fair valuing the interest rate swaps in the CBRail portfolio •Management team in the process of evaluating opportunities to de-link from the Babcock & Brown Group

SINGAPORE : The Securities Investors Association of Singapore (SIAS) is urging shareholders of investment firm Global Investments to attend the company\'s upcoming special general meeting. SIAS said this it to ensure that their interests are protected and their voices are heard. Global Investments is caught in a dispute over the appointment of a new manager for its business. SIAS is warning shareholders that failure to attend the meeting may result in a decision that does not reflect the wishes of the majority. It also notes that shareholders are currently holding shares substantially below the IPO price and the Net Asset Value. The special meeting is scheduled to take place on November 25. - CNA/ms

BINGO..... Offload a few lots at $0.275 today.... holding remaining shares till $0.36 (target set by ST Asset Management)

so u made abt 35% in a couple of weeks eh? give us another stock tip leh