The entire drama got a clear message now that delisting must go on after SGX issued a letter on 10th June 2014. We do not like the handling methods from Teledata. We also do not like SGX ways either. We will only comment if there is a need to delist is when a company show no will to be lifted anymore. In the case of Teledata, SGX decision to delist Teledata we believe has hurt not the major but also the minority share holder. Purely go by the book practises.
We will wait for the next action plan from the management of Teledata. An exit plan if any and option to go private together. If SGX is to be really something, they will need to govern the share holder I believe a need to offer buy back at least at SGD 0.01. Given historical price on recent placement, NTA, share issued for acquisition and off market deal.
On our point of view, the management need to only have a one genuine action. Inform publicly that Teledata can delist on SGX and re-list in Jakarta, London, KLSE or even Thailand exchanges. With the plan and its current revenue and profit. Teledata can easily fetch good market pricing compare staying in SGX.
If the major share holder Irene is genuine. It is no rocket math to come out with a quick solution and continue its business. Life without SGX may be even better. Else, offer a right price for minority to exit.