Daily Brief Singapore: Golden Energy & Resources, Golden Agri Resources, Speedoc and more

In today’s briefing:

Golden Energy (GER SP): Widjaja Family’s Low-Balled Offer

Golden Energy & Resources (GER SP) has proposed in-specie-ing its holding in Golden Energy Mines (GEMS IJ), subsequent to which the Widjaja family will undertake an Exit Offer.
Ex-GEMS, the family is Offering S$0.16/share. That’s insulting. And the Offer was announced after GEAR’s share price had fallen 26%. The Exit Offer has been declared final.
GEAR’s jewel is the stake in GEMS, and shareholders are afforded future exposure. However, the stub ops are worth considerably more than S$0.16/share.

FTSE has announced that it will be changing Golden Agri Resources (GGR SP)‘s nationality from Singapore to Ineligible at the close on 16 December.
This means the stock will be deleted from the FTSE All-World Index at the close on 16 December. We estimate passive trackers will need to sell multiple days ADV.
Golden Agri Resources (GGR SP) trades cheaper than a lot of its peers but has outperformed them over the last year. There could be a short-term reversal.

Speedoc, a virtual clinic and healthcare solutions platform that brings advanced medical care to homes in Singapore and Malaysia, has announced closing its US$28 million pre-series B funding round.
Founded in 2017, Speedoc is a virtual clinic and healthcare solutions platform enabling users access to home-based medical care and services.
It aims to drive medical care needs out of hospitals and clinics by delivering a full suite of healthcare services to homes.

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