Trans-cab cancels IPO after being told of?

[Rustyz]

 

I try not to generalise... but I have noticed Transcab taxis being less considerate and more aggressive than others and have kept videos of a couple of incidents.

 

Talking of which, has anyone ever successfully fed back a complaint to Transcab and had a satisfactory response? Please advise how to feedback to them, their web contact us form seems to disappear into a black hole. Is this true of taxi companies generally? Or do some take complaints seriously?

 

TD are the boss of the company. Without them who rent taxi. So who would the Taxi company care for more?

[Will_I_Am]

BB, you are going to break the heart of your many 粉丝 leh.

 

 

 

Previously when one of them kissed my motorcycle's ass when I was stationary at a junction waiting for the lights, my bf had to call them, email them repeatedly, and then call them persistently again till the management finally informed him the driver had been given a warning.

 

 

[Kusje]

BB, you are going to break the heart of your many 粉丝 leh.

 

 

 

best friend la

[LiuDeHua]

 

For those who said that the IPO cancelled because not enough subscribers, thats absolute bulls**t.

 

These are the offerings in respect of the 168,000,000 shares they would be releasing:

(i) 65,000,000 Cornerstone Shares;

(ii) 94,200,000 Shares under the Private Placement (including 6,350,000 Reserved Shares); and

(iii) 8,800,000 Shares under the Public Offer (subject to the Over-allotment Option).

There's no data on the Public Offer as the plug was pulled before the Public Offer closed.

But for the Private Placement which closed much earlier, it was easily over-subscribed by few times.

Why they cancelled the IPO, reason already given.

They were hit by an insurance bill of $1.8M.

This would bring their profit for the past year down by about 10%.

As this was not disclosed in the prospectus, and investors have already placed in their orders, SGX disallowed their IPO to proceed..

 

WAH LIEW EH!

 

Got someone Dislike my post and say I am "talking cock"?!!

 

WTF. Does it hurt to be proven wrong?

That guy better go get his facts right.

[Lala81]

WAH LIEW EH!

 

Got someone Dislike my post and say I am "talking cock"?!!

 

WTF. Does it hurt to be proven wrong?

That guy better go get his facts right.

 

Praise u five.

 

Actually 8.8mil shares is nothing for retail investors. It's only 6mil?

The cornerstone investors took up the lion's bulk.

Sure kana taken up in no time.

 

I'm not sure about the insurance thing though.

It could be a on-off payment or an increase in annual premium.

[Lala81]

Still feel it's a weak excuse though. Won't apply for their IPO if it does come back.

 

They already 2nd cab company in SG. Will never catch up to CDG who has like 3 times the number they have.

No diversification. Looks like boss just cashing out for his next venture. New stock so no hx of dividends. Capital gain upside limited IMO.

At most they will be going into bus routes but SMRT/SBS will still take the lion share of those routes.

[Voodooman]

I thought it is quite a defensive business, COE or car cost goes up, hike rental rate, COE drops, no change, laugh to banks.

 

But not sure if govt will go back to regulating fares.

 

Can buy, just a matter of valuation. Any domestic business in which Temasek has a stake usually good business.

 

Anyway, IPO very sian, apply so much and get so little if it is hot, waste time. If IPO tanks, even more jialat.

Edited November 19, 2014 by Voodooman

[Ake109]

My understanding is that the premium adjustment is an extra charge to the company once the $ claims in the period under insurance exceeds a certain amount.

 

This would of course mean that if at the time of the printing of the prospectus, the claim figure had not been breached and/or the extra charge not billed to transcab, they wouldn't have been able to include it in the financials right?

 

But then again, with such a contract, it should have been disclosed under Contingent Liabilities.

 

OK, going to read the prospectus now.

 

I am betting Transcab will be back in 2015 to continue with the listing. NOT going to subscribe. The boss has more than enough money/clout to raise the funds privately. This stinks of the typical SME cash-out.