Singhaiyi Holdings Ltd (Singhaiyi) was a great call previously by me. I average upwards when it announces an exceptional Q1 2017.

However, its recent purchase of Sun Rosier is a bit hard to accept. There were explanations that their purchase price was too high. Nevertheless, I decided to hold on to them as I believe the management may have a different view.

But I realized Singhaiyi missed out reporting that it was awarded a public tender of a string of commercial units from OKH Global Ltd (OKH) when they were the only bidder.

Announcement made by OKH on 11 Jul 2017
No announcement by Singhaiyi on 11 Jul 2017
For those that do not know, Singhaiyi and OKH technically are owned by the same parent company – Haiyi Holdings Pte Ltd.
This meant that this was actually a related party deal. From my experience, I doubt any related party …