Hafary

Divads, it's most odd that Eric has stepped down from CEO post. Does he have another big job to go on to? Oxley ?
I would not be surprised given his close ties with Ching and his shareholding in Oxley. And the fact that Oxley has grown very big in a short space of time. It surely can do with an additional top guy. But is Eric qualified to run a property developer?

lately he has been buying Oxley shares..

Perhaps just thinking or hoping, they want to privatise Hafary first, then sell off the tiles business and then develop the properties they are holding?? not too sure why he wants to leave.

Reminds me of See Hup Seng, old guards crashed with young ones..

In the previous dividends, the price will drop upon and then recover within 1 mth.

Next Monday is dividend payment day (2.5 cents) 30 Dec to be exact..
Hopefully like what happened in previous dividends, there will be buying interest as investors buy back Hafary shares using the dividend. So I expect to see the price recovering from Next week.

Let see what happens next week.

If we see it in a simple and interesting way, he stated that he wan to pursue personal interests. Maybe he no longer so passionate about selling and managing tiles, if he can, he prefer to develop houses! Lol so let his dad takes back control. Anyway does his dad has shares directly or not in Oxley?

his dad dun have Oxley shares I think.

Like that Jason holdings should look for a merger with Hafary since his son not keen on tiles hahaha..

Since hafary executive chairman Low Kok Ann and Jason holdings MD Jason Sim Chon Ang belongs to the same committee and Jason holdings is interested in tiles business.
www.rcma.com.sg/the_committee.php

Old man at the helm , I can think of one example is See Hup Seng CEO Thomas. He also not willing to lose his position to younger ppl, I think is Jimmy, but abit different in See Hup Seng case, Jimmy was outsider

Maybe I thinking too much.. hahaha.. anyway the father has been the executive chairman and director and the founder of Hafary, so no impact on the operation.

If the son wants to sell his hafary shares and buy Oxley, perhaps there is a chance that he may sell his share to 3rd party like Jason Holdings.

Recently Jason Holdings price is rising.. hmm...

Managed to seek the opinion of Kayhian analyst.


Hi David

Thanks for your email. I think the chances of privatisation is not very high.

While Eric has resigned from his post as CEO, he will still be on the board of directors and will be actively involved in the initiatives of Hafary. Hafary is currently in a growing phase with its ambition to expand and tap into the international market through the international furniture park.

As such, staying listed will be good for them as it provides them with an additional avenue to raise funds if needed for future and existing ventures.

Thanks

Regards

Loke Chunying
UOB Kay Hian Research
DID: +65-6590 6637
Email: cyloke@uobkayhian.com