WE Holdings

WE Holdings: Today's 51.9% increase following yesterday's 17.4% increase in share price, on the Company's plans to tap into and build on new top shareholder Tea Yeok Kian's extensive experience and expertise in the resources industry when the opportunity arises, and Company also mentioned about exploring the prospects of entering into the resource business in Myanmar, as well as other regions; and other business opportunities in Myanmar. On a brief google check, Tea Yeok Kian's company SingYaSin SMC Technology has no notable prior dealings in Myanmar. Timeline of events: 2 Jun 2010: Company entered into loan facility with KBC Bank, one of the conditions was that both Mr Sim Mong Keang and Mr Chng Weng Wah would hold no less than 51% of issued shares in WE Holdings 1 Feb 2013: Company terminated loan agreement with KBC Bank 1 Feb 2013: Sim Mong Keang & Chng Weng Wah sells 29% of their combined holdings (previously held 51%) Company proposes private placement of new ordinary shares increasing shareholder capital by 32.7%, with an issue price of 3.699 cents per share- price represents 10% discount to last traded price before the announcement. New shareholdings structure (post-placement and proposed sales of shares): SingYaSin SMC Technologies: 11.72% Sim Mong Keang: 9.44% Chng Weng Wah: 7.25% Other 8 new shareholders derived from the private placement owns 20.67% collectively. On the business front, only Landex Pte Ltd (taking up 4.42% of placement) seems to have Myanmar exposure, with a similar company "Landex (Myanmar) Ltd" found on Myanmar's Yellowpages.