re: abitrage math Hi Aka,Agree with your calculation basically,...

re: abitrage math Hi Aka,

Agree with your calculation basically, except for the fact that if you are buying HDR to get TLW, you are currently paying 2.06 2.07 not the 2.02 that your calculation is based on.

If you already have the HDR shares, then fine, swap it over at SOS, but why would one bother buying HDR just to get TLW shares at 2.06? Don't forget that there are two lots of brokerage to go on top, and from what I have found out, brokerage to sell overseas is between 0.75 and 1.5% plus the exchg rate risk plus SOS uncertainty plus TLW downside risk (mind you, I think there is more likely to be upside rather than down judging by its performance in the past couple of weeks and this is what all this debate is about).
Oh don't forget tying up of your money for two months at what, 6% pa.

My personal feeling is more people are buying in the hope of another bid.

In any case, for those of us who already hold HDR, then it's good news regardless, all we need to do is wait for Dec 15th or at least Nov 15th, that's when we see the SOS documents and I think the KPMG assessment as well.

Hey, that's only two weeks away and we could have Aigrette result and maybe Kingfisher meanwhile!

Well, I am excited!