27 August 2013:
Well, this story continues @ 1.03 = worth 951 Million Bath or a 1.2 Billion Baht loss.
Mr Lionel Lee has lost 55.6% on his current investment in Raimon Land from a share price @ 2.320 on 1 February 2013 to a share price @ 1.030 on 27 August 2013.
If the local media including newspapers and TV stations put this kind of story in their publications then Raimon Land would NOT advertise with them anymore. This is where the dependency comes into the story. It is not a scandal, this is just the kind of information that a company does not want out in the open. The investors already know all about the share prices that are dropping so nobody gets hurt. I just present this information to the general public. There is a story here. Will this have consequences for the new CEO? That is a good question.
That was excellent timing from IFA to get out @ 2.32 and move on! This new CEO actually orchestrated this deal, I wonder if he feels the heat now.
14 June 2013:
The new Director and chief shareholder of Raimon Land, Mr Lionel Lee, a Singaporean entrepreneur who heads Singapore-listed Ezra Holdings Limited, also known under their operating brand name of EMAS, has lost 38.3% on his current investment in Raimon Land from a share price @ 2.320 on 1 February 2013 to a share price @ 1.430 on 13 June 2013.
Mr Lionel Lee is Raimon Land’s largest shareholder, he acquired a 24.97% shareholding for 2143 Million Baht in a transaction completed on Friday 1st February 2013.
In other words, Singaporean investor Mr Lionel Lee, has lost 821 Million Baht since the takeover of Raimon Land.
On 16 May 2013, Mr Lionel Lee and the Board of Directors have elected Mr Johnson Tan Chin Kwang as the company’s new Chief Executive Officer. As a result the now former Director & CEO, Hubert Viriot has left Raimon Land. Read more about the takeover, click here.
Published 14 June 2013