David called from abroad “John you are about to receive at least ten letter of credits (Lcs) in a few days time. Each of them at least worth RM1000,000/= to RM500,000/=” John could detect his happy mood “Congratulation David! You are going to make everyone happy including our bankers” David “Sure; in fact, they are in a way our partner for taking only profits, no sharing of losses with us. No…it is wrong, they are deepen our losses as well. Profits or no profits they are taking” John “Hey! David, in a way you may be right but on the other hand without banking system, the economy progress will definitely slow down or stagnant and non moving” David “Yeah, take something and give something!”
John was busy in his office as usual. Bank manager Bob called “Hey John, we are the undertaker of ABC Company; they are going to list themselves as public listed company in two weeks time. Would you like to subscribe some share of the first initial public offers?” John “My job title is very grand but my rewards is not as grand as the name of the post, Bob I cannot effort that kind of money” Bob “Yes, I could not afford too, buying a few lots and making a few dollars, we don’t need that kind of money. John, buying a few ten lots to hundreds, it is a handsome profits! A small windfall”
Bob was referring to share financing bank facility. A potential share investor needed only 10% of the total shares bought from the initial issues of a public listed company. However it was needed to pay full amount within two weeks after the share allotted or other time limit as per bank regulations. The date of full payment expired and no full payment was made to take delivery of the allotted shares. The bank would force sale of the shares and after deducted bank expenses and commissions, the balance shall forward to shares investors. On the situation of not enough profits from the forced sales, the bank would make a letter of demands from the share investors for short fall.
It was highly tempted and John was having a second thought, it was the truth most of the public initial share offers, a premium of share sales was always achieved and profits were there to harvest. There were cases; initial public issues share sold were below par. John “Ok, Bob you have convinced me to gamble, what I should do?” Bob said with smiling tone “John, please I am in no way to encourage you to be a gambler. I am merely helping you and make you to become a investors which in turn stimulate our country economic to a higher growth” John “Yeah, as usual, show off big and honorable but doing a small man jobs. I bet you need to top up your monthly credit facilities quota and put me in line to meet your quota” Bob giggled “I have sent to you all necessary documents, completing them and send them back to me. Most important, your signature has to be there!”
John was only acquainted to Bob from the present employment, it was a couple of years but their friendship was firm and true. It was just because both of them sharing each other, their sincerity, frank and men of principle, the money was important but happiness was on top of all. John “Please, Bob do make sure only good and profitable shares for me” John had given Bob his full trusts. He firmly believe that Bob would at least manipulating in such a way, no loosing ends for him, after all the economies prevailing, It was in favor for investing, that was to say, a buy was suggest by most financial consultants.
David called a second time; it was regarding the Trading Company, the FT Trading Ltd. He wanted to arrange a meeting with one of his bankers, CAA bank. CAA bank was considered an International Bank; they had many branches in many countries. FT Trading Ltd was a foreign incorporated Company. It had many branches in a number of countries; David was a major shareholder and he held office as President of the company.
Meeting room of CAA Bank, The bank officer entertained us, he said the bank manager was not free and he would see us the next meeting. John looked at David and he knew David was not happy. David “We have sent you all the documents. Is there anything not in order?” Bank Officer “Everything is in order” David “So? What now!” Bank Officer “I am sorry Mr. David, the application still pending” David wanted to blow out but stopped by John “Please, your bank does have a dateline for processing any credit facility application” The bank officer understood John’s intention and replied “I will get you posted John, latest by next week” David took over with dissatisfied tone “Not by next week, tomorrow!”
FT Trading Ltd was a Marketing company. David had marketing teams of his own in a number of countries and they were employed directly under FT Trading Ltd of the respective countries. He had another team of free lance marketing agents over a number of countries.
FT Trading Ltd was also a sourcing company. The marketing acquired sale contracts and usually they were in the form of new products and the design was fresh from the customers design department. The new product design would form part of the LC. The LC would normally stipulated, the first sample of the new product be forwarded to the customers for final approval after one month to six months depending on the complexity of the new product. The sourcing department of the company would source out all the parts of the new product from a number of different manufacturers. The assembly the new product would be done either by the FT Trading Ltd or by one of the major parts manufacturer.
Next Topic: The Old Van – Line of Credits IV
John was busy in his office as usual. Bank manager Bob called “Hey John, we are the undertaker of ABC Company; they are going to list themselves as public listed company in two weeks time. Would you like to subscribe some share of the first initial public offers?” John “My job title is very grand but my rewards is not as grand as the name of the post, Bob I cannot effort that kind of money” Bob “Yes, I could not afford too, buying a few lots and making a few dollars, we don’t need that kind of money. John, buying a few ten lots to hundreds, it is a handsome profits! A small windfall”
Bob was referring to share financing bank facility. A potential share investor needed only 10% of the total shares bought from the initial issues of a public listed company. However it was needed to pay full amount within two weeks after the share allotted or other time limit as per bank regulations. The date of full payment expired and no full payment was made to take delivery of the allotted shares. The bank would force sale of the shares and after deducted bank expenses and commissions, the balance shall forward to shares investors. On the situation of not enough profits from the forced sales, the bank would make a letter of demands from the share investors for short fall.
It was highly tempted and John was having a second thought, it was the truth most of the public initial share offers, a premium of share sales was always achieved and profits were there to harvest. There were cases; initial public issues share sold were below par. John “Ok, Bob you have convinced me to gamble, what I should do?” Bob said with smiling tone “John, please I am in no way to encourage you to be a gambler. I am merely helping you and make you to become a investors which in turn stimulate our country economic to a higher growth” John “Yeah, as usual, show off big and honorable but doing a small man jobs. I bet you need to top up your monthly credit facilities quota and put me in line to meet your quota” Bob giggled “I have sent to you all necessary documents, completing them and send them back to me. Most important, your signature has to be there!”
John was only acquainted to Bob from the present employment, it was a couple of years but their friendship was firm and true. It was just because both of them sharing each other, their sincerity, frank and men of principle, the money was important but happiness was on top of all. John “Please, Bob do make sure only good and profitable shares for me” John had given Bob his full trusts. He firmly believe that Bob would at least manipulating in such a way, no loosing ends for him, after all the economies prevailing, It was in favor for investing, that was to say, a buy was suggest by most financial consultants.
David called a second time; it was regarding the Trading Company, the FT Trading Ltd. He wanted to arrange a meeting with one of his bankers, CAA bank. CAA bank was considered an International Bank; they had many branches in many countries. FT Trading Ltd was a foreign incorporated Company. It had many branches in a number of countries; David was a major shareholder and he held office as President of the company.
Meeting room of CAA Bank, The bank officer entertained us, he said the bank manager was not free and he would see us the next meeting. John looked at David and he knew David was not happy. David “We have sent you all the documents. Is there anything not in order?” Bank Officer “Everything is in order” David “So? What now!” Bank Officer “I am sorry Mr. David, the application still pending” David wanted to blow out but stopped by John “Please, your bank does have a dateline for processing any credit facility application” The bank officer understood John’s intention and replied “I will get you posted John, latest by next week” David took over with dissatisfied tone “Not by next week, tomorrow!”
FT Trading Ltd was a Marketing company. David had marketing teams of his own in a number of countries and they were employed directly under FT Trading Ltd of the respective countries. He had another team of free lance marketing agents over a number of countries.
FT Trading Ltd was also a sourcing company. The marketing acquired sale contracts and usually they were in the form of new products and the design was fresh from the customers design department. The new product design would form part of the LC. The LC would normally stipulated, the first sample of the new product be forwarded to the customers for final approval after one month to six months depending on the complexity of the new product. The sourcing department of the company would source out all the parts of the new product from a number of different manufacturers. The assembly the new product would be done either by the FT Trading Ltd or by one of the major parts manufacturer.
Next Topic: The Old Van – Line of Credits IV
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