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i am terribly saddened by what's happened to our friendly sage fringe remnant:
Rager!nice!way to cut loose! like a bratislavan garage band!
good luck
rager- sometimes a ridiculous/funny reponse is an appropriate way to diffuse a lazy and repetitive question from a disruptive poster imo.
The DIFX is the exchange they are seeking (not the dubai exchange) and not for westerners living in the uae to trade but for locals- it is very difficult for investors in the uae to trade over here (patriot act etc.) so hardly a moot point to allow uae money to easily invest!
A Wessal International Group spokesperson commented: "Recent deals have generated great interest in Sulja Bros. Building Supplies, Ltd. We are now working with one of the largest investment banking firms to complete the listing of Sulja Bros. Building Supplies, Ltd. on the Dubai International Financial Exchange."
fridge-like i said- research it - you are not trying , you are spreading bs over and over and over.
The DIFX is located within the Dubai International Financial
Centre (DIFC), which opened its doors for business in 2004.
As a financial free zone, the DIFC provides numerous benefits
for businesses operating within it. This includes the possibility
of taxation benefits, no restrictions on the level of foreign
ownership and an independent legal system on par with the
other regulators of the world.
http://www.difx.ae/listing/listing/download_listing_rules.html
wrong!do some research, stop spreading bs
Under the companies law, at least 51 percent ownership by UAE nationals is required for all UAE establishments, except where the law requires 100 per cent local ownership as in the case of, for example, commercial agencies. The companies law is not applicable to Free Zone Entities or branches established in the free zones generally. As mentioned, it is not applicable to professional companies, which, in due course, will need to be 25 per cent owned by UAE nationals.
http://www.dubaicityguide.com/business/index.asp
point is it's fridge's 3rd strike in my book
1st he says company is diluting which they have specifically said they are not and why they do not need to
2nd he said to be listed on dubai exchange they need to be 51% owned by uae entity which is just wrong
3rd he says they do not need lumber in dubai!
he is posting more than 20x a day here w wrong and ridiculous assertions and engaging in way ot egoistic arguments.
why the guru status? the great gifs is my guess.
hmmm- i live in nyc and watch bldgs going up daily- here they also prefer aluminum studs- concrete and glass bldgs- but they use a phenomenal amount of softwood lumber as the structural forms for the concrete- and in the interiors, plywood ,2x4s, and high grade woods are still indispensible. you are losing credibility fast here.
guess you didn't get your hooker today.lol
Soldierly Longs Justifiably Benefit
here is an article which shows how the big uae players are willing to pay a premium (much discussion here about why would wessal pay a higher price) and also demonstrates the general lack of financial info. on uae companies.
http://business.guardian.co.uk/story/0,,1711585,00.html
The Jane Martinson interview: Ahmed bin Sulayem
Dubai Ports boss with a P&O boarding pass
The sultan who paid £3.9bn for the pride of UK shipping is also building the emirate's astonishing Palm islands
Friday February 17, 2006
The Guardian
Once upon a time, when Britannia ruled the waves, steamers laden with goods from the orient used to refuel at a palm-fringed trading post in the Arabian sea.
The steamship owners, the Peninsular & Oriental Steam Navigation Company, went on to become the pride of Britain, employing 22,000 people in over 100 ports. Then this week, more than 100 years later, the company that grew out of that sandy outpost in Dubai bought P&O for £3.9bn.
Article continues
It is an amazing story and Sultan Ahmed bin Sulayem, chairman of Dubai's state-owned ports group, DP World, is one of its leading protagonists.
With P&O's shareholders having voted overwhelmingly for the takeover this week, I meet him in the colonial splendour of Mayfair's Duke's hotel, with its oil paintings of 18th century tiger hunts, where he speaks of a "very important deal".
The amount of money paid for P&O, a 70% premium to its share price before the bid battle commenced, astonished most analysts, as well as the company's board. But Bin Sulayem justifies the knockout price, that prompted his rivals in Singapore to withdraw, by saying a prolonged bid battle would have led to staff defections.
"We could have offered a bit more and a bit more but we went and did it fast because we didn't want to lose the people," he says. DP World is growing at 7%-15% a year, and the idea of waiting a few months for the sake of a few million seemed anathema to the company.
With the deal not finalised until next month, the head of what is soon to be the world's third-biggest ports group is full of expansion plans for P&O. "This deal would not make financial sense at all unless we really invest in growth," he says. Fuelled by a boom in global trade, the world's shipping industry is enjoying something of a golden age, with growth back at levels last seen in the mid 18th century, after a difficult two decades.
The parallels prompted one P&O shareholder this week to agonise over why Britain was going to let "Johnny Foreigner" run our ports. Bin Sulayem, a government employee for his entire adult life, said of this outpouring: "People find it difficult to accept a very important UK icon, part of their heritage, is going to change hands. They were hurt. I respect the motives; I don't respect the words."
A small, dapper man with a neat moustache and dressed in a tailored navy suit, he speaks quickly and with a huge amount of enthusiasm. "Excited" by the P&O deal and full of praise for its management team, he says DP World, which has little geographical overlap with P&O, built its reputation on investing in new technology and people. "The only way we are going to make money is if we expand the business. So there will be more job creation in the UK, more job creation in many places," he says.
He is also keen to dismiss speculation that P&O's ferries will be sold off immediately and praises the management's restructuring of the business. "I am not going to come here and say: 'I don't like the ferries,'" he says.
Pressed for details of his plans, he is less forthcoming, eventually saying, "I don't have the figure, to be honest with you." He is also remarkably shy of giving any clues to his age, revealing only a youngest son of 26 and a marriage at 18. After some effort, his handlers later admit that he is a youthful-looking 51.
Fantastic growth
In some ways, this lack of financial detail is symbolic of Dubai, a success story of fantastic growth in one short generation. Part of the United Arab Emirates and ruled by the al-Maktoum family, most of its expansion into a leading financial and trading centre was funded by the discovery of oil in the 1970s. With far smaller reserves than its neighbours (oil brings in only 6% of its income) Dubai decided to diversify into shipping, property and tourism.
The scale and speed of this diversification have even led some to suggest that terrorist finances are being filtered through Dubai, a charge dismissed by Bin Sulayem as jealousy.
"Bad people have no friends at all," he says. Besides, "Dubai has been instrumental in helping the US apprehend many religious people."
What Dubai lacks in gritty financial detail, it makes up for in abundance with the big picture. Bin Sulayem, who has a "connection" with the ruling al-Maktoum family but is not related, draws this picture particularly well, partly because he "wears many hats".
As well as heading the port business for the past 24 years, he is chairman of Dubai's investment business, Istithmaar, and head of Nakheel, the state-owned property company behind two projects which are the marvel of the western world - The Palm and The World, manmade islands off the Dubai coast, shaped as they sound.
These developments, which brochures call an eighth wonder of the world and environmentalists call a nightmare, were born out of the desire of Sheikh Mohammed bin Rashid al-Maktoum, now the emir, to increase the amount of beachfront in the emirate.
This is how Bin Sulayem, one of the emir's three key advisers, describes a conversation in 1997 which led to the massive dredging operation: "He said to me, that with all this tourism, we're running out of beach. Have someone design an island. The conversation took five minutes.
"I didn't think much of it, but I happened to meet someone while I was on vacation and I said: 'Can you design me an island?' He designed a circular island with 7km beachfront. Sheikh Mohammed immediately said he wanted 70km, not 7km, so we had another look. Then, slowly, it took shape. We didn't think of a palm, it evolved."
With all three proposed Palms (the first ready for occupancy later this year) as well as the World, Dubai's all-important beachfront will have gone from 65km to 1,500km, according to Bin Sulayem.
Terrified
Bin Sulayem is full of praise for his ruler. "I learned a lot from him. He's a man who makes a decision, a good decision, very quickly. I am optimistic and I learned that from him. I used to worry."
He tells the story of how Sheikh Mohammed decided to start an airline in 1983 after a cancelled flight had convinced him the world needed a customer-focused service based in Dubai. His ambitions terrified his adviser. "I thought, my God, I was really worried," says Bin Sulayem. "We don't have oil. It was a big gamble." It paid off: the Dubai-based Emirates national airline, set up in 1985, is one of the world's fastest growing.
He felt the same in 1987 when the sheikh first mentioned his plans to make Dubai a leading tourist destination. "I couldn't believe it. I said, what's he going to do? Air-condition the beach to make it cooler in the summer? I didn't take him seriously." Dubai now makes huge amounts of money from tourists who flock there from all over the world for its enormous shopping malls, giant snowdome and safari parks.
Even Sheikh Mohammed's ability to pick the worst horse for an endurance race, a passion the two men share, is evidence of his can-do attitude. "He waits for the horse that nobody wanted. Against the odds he will go and win with it ... He enjoys proving that something can be done." Bin Sulayem's plan for yesterday was to fly out of London to take part in a 160km horse race in Dubai, spending perhaps 12 hours in the saddle.
He owes his early career to a chance conversation with his benefactor. After studying economics at America's Temple University, he worked as a lowly employee in the customs department. A few years later, Sheikh Mohammed asked the 20-something what he thought of free trade zones. He thought they were a good idea - and became head of Dubai's first one. "I was scared," he says now. "Me and my big mouth."
He proved himself in the job, offering "one-stop service, non-stop service and so on". His success meant that when the Dubai Ports Authority was founded, he was made chairman.
Dubai built the vast manmade port at Jebel Ali to accommodate the world's ever-larger container ships. Once again, the rest of the world thought they were mad. "If you think of the big maritime highway, it's from the far east through the Red Sea to Europe," says Mr Bin Sulayem. "Dubai is a diversion. But the decision was to try it. We took a chance and it worked."
It seems a fitting epilogue to the story, a triumph of attitude over reality. Those old P&O steamers shouldn't have been in Dubai in the first place.
In numbers
$15-30m Cost of buying the "UK" in Dubai's "World" group of islands
30 Percentage of properties owned by Britons in first Palm island, to be completed at the end of this year
11 Number of Premiership footballers to have bought a house on the Palm
65km Length of Dubai's beachfront before the planned manmade islands
1,500km Length of beachfront afterwards
others have said their funds have to clear patriot act regulations for foreign investments first and that is the hold up...
mm's w red paint
fri afternoon-holiday weekend- most folks w money already long gone + we had avg volume nonetheless.
nobrainey- you have been not reading or comprehending the prs or financials very well imo.
Emaar, lumber mills, cement, steel , even rice!
"Currently we are in the process of working on a lot of contracts some being still open, some are in the closing stage, some are being finalized."
bans
nickulliana 8/30/2006 11:41:12 AM 2744
SPIN 8/30/2006 11:40:41 AM 2744
mikeyrags 8/24/2006 2:22:32 PM 2744
berrybck 8/22/2006 6:50:14 PM 2744
noossab2001 8/22/2006 3:43:03 PM 2744
DGILL48 8/17/2006 2:37:38 PM 2744
nice!!! great job rager
i think asus/chad's breakdown of sulja family shares was millions not %- adds up to 100 million- maybe those are da shares?
also corresponds to the visitor to harrow who said john sulja said he had 5%-
5%of 500 million is 25 million.
maybe?
soft- you're waaayy too paranoid! lol
cool- heres sort of translation- sounded like the moderator was chastizing them at one point!lolol
http://translate.google.com/translate?u=http%3A%2F%2Fwww.indexsignal.com%2Fvb%2Fshowthread.php%3Ft%3...
NNRF- chart
http://www.icpcredit.com/companies/Re2.asp
RED SEA DEVELOPMENT CO LTD Saudi Arabia View credit report on RED SEA DEVELOPMENT CO LTD Saudi Arabia
Red Sea Development Enterprise Llc United Arab Emirates View credit report on Red Sea Development Enterprise Llc United Arab Emirates
RED SEA DISTRIBUTION CO LTD Djibouti View credit report on RED SEA DISTRIBUTION CO LTD Djibouti
Red Sea Drilling Company Egypt View credit report on Red Sea Drilling Company Egypt
RED SEA ENGINEERING AND SERVICES Chad View credit report on RED SEA ENGINEERING AND SERVICES Chad
RED SEA ENTERPRISES HOLDING SA Luxembourg View credit report on RED SEA ENTERPRISES HOLDING SA Luxembourg
Red Sea Flour Mills Co Ltd Yemen Republic View credit report on Red Sea Flour Mills Co Ltd Yemen Republic
RED SEA GROUP Djibouti View credit report on RED SEA GROUP Djibouti
RED SEA GROUP LTD Turks And Caicos Is View credit report on RED SEA GROUP LTD Turks And Caicos Is
RED SEA GROUP OF COMPANIES FOR INDUSTRY, TRADE & Sudan View credit report on RED SEA GROUP OF COMPANIES FOR INDUSTRY, TRADE & Sudan
Red Sea Handmade Carpets Est Bahrain View credit report on Red Sea Handmade Carpets Est Bahrain
RED SEA HOUSING SERVICES CO LTD Saudi Arabia View credit report on RED SEA HOUSING SERVICES CO LTD Saudi Arabia
Red Sea Housing Services Company LLC United Arab Emirates View credit report on Red Sea Housing Services Company LLC United Arab Emirates
RED SEA IMPORT AND EXPORT CO LTD Sudan View credit report on RED SEA IMPORT AND EXPORT CO LTD Sudan
Red Sea Industrial Supply & Contracting Company Ltd Saudi Arabia View credit report on Red Sea Industrial Supply & Contracting Company Ltd Saudi Arabia
Red Sea Insurance (Saudi Arabia) E C Saudi Arabia View credit report on Red Sea Insurance (Saudi Arabia) E C Saudi Arabia
RED SEA INTERNATIONAL FZCO United Arab Emirates View credit report on RED SEA INTERNATIONAL FZCO United Arab Emirates
Red Sea Metal Saudi Arabia View credit report on Red Sea Metal Saudi Arabia
RED SEA MINING COMPANY Saudi Arabia View credit report on RED SEA MINING COMPANY Saudi Arabia
Red Sea Navigation & Contracting Co Saudi Arabia View credit report on Red Sea Navigation & Contracting Co Saudi Arabia
RED SEA OFFICE FOR TRADE AND MARKETING Saudi Arabia View credit report on RED SEA OFFICE FOR TRADE AND MARKETING Saudi Arabia
Red Sea Paints Company Ltd Saudi Arabia View credit report on Red Sea Paints Company Ltd Saudi Arabia
RED SEA PALACE HOTEL Saudi Arabia View credit report on RED SEA PALACE HOTEL Saudi Arabia
Red Sea Plastic Factory Company Limited Saudi Arabia View credit report on Red Sea Plastic Factory Company Limited Saudi Arabia
RED SEA SKI BOATING CENTRE Saudi Arabia View credit report on RED SEA SKI BOATING CENTRE Saudi Arabia
could that be dennis's 100 million? (if its million and not %)
thanks asus for your efforts!
confused by sulja family answer- did he mean millions rather than% of shares?what's your take?
"John Sulja, 25%
Steve Sulja, 12.5%
John Sulja Jr. 12.5%
Kathy Sulja 25%
Andy Sulja 12.5%
Sam Sulja 12.5%"
spin should be banned for persistent disruptive posting-
i also hope rager and greenspirit can come to some agreement where both can continue to positively contribute here as both add alot imho.
steve taylor-ir guy- called back w share structure after he spoke with co-here's what he said (it was a message so i couldn't ask about restricted and what not)
AS- 900m
os- 600 m
incorporated in toronto.
or how sulja was spelled suija on ameritrade and other streamers yesterday
SPIN- here- read up- this has all beeen discussed over and over and over ... http://www.investorshub.com/boards/msgsearch.asp?txt2find=devries&maxmsgnum=11466672
wave- this is what i'm going on
:TexasLongTraderIn reply to: None
Date:8/24/2006 2:04:24 AM
Post #of 58519
INFO REQUEST: Is this the same Red Sea Group?
Is this the same Red Sea Group we have been hearing about?
http://www.menafn.com/qn_news_story_s.asp?storyid=1093123332
They just had a huge IPO on August 12th:
The Red Sea Housing Services (RSHS), a major Saudi housing company that provides total solutions in housing services, will offer nine million of its total 30 million shares to the public in an initial public offering (IPO) begins today
I am guessing this is not the same company/organization but it sounds so similar when you read to the very bottom.
Just trying to dig up more info on Red Sea Group.
Any thoughts appreciated... partysasquatch
In reply to: TexasLongTrader who wrote msg# 53871
Date: 8/24/2006 2:10:19 AM
Post #
No they are not. I'll give you a hint. They are on this page and there may be more than one that you are looking for (oh look a second hint)
Party
PS - I am not being cryptic, this is a good learning experience for the board also
----------------------------------
< Previous Showing 1 of 1 Sort by: Relevance CompanyName City Headquarters State Next >
Red Sea Company Branch Off Makkah High Way, Jeddah, SA
RED SEA CEMENT PVT LTD Saba Building Warsay Avenue, SA
RED SEA ENGINEERING CO LTD Khalid Ibn Alwaleed St, Jeddah, SA
RED SEA PAINTS COMPANY LTD Esmalia Street Industrial Estate, Phase 3, SA
RED SEA HOUSING SERVICES COMPANY LIMITED Al Tahlia Street, Jeddah, SA
RED SEA HOUSING SERVICES COMPANY LTD Behind Toyota Show Room, Al Jubail, SA
RED SEA HOUSING SERVICES Dhahran, Dhahran, SA
RED SEA JUICE FACTORY Jeddah, Jeddah, SA
RED SEA FOR SHIPPING SERVICES COMPANY Al Andalos Street, Jeddah, SA
RED SEA PALACE HOTEL King Abdulaziz Street City Centre, Jeddah, SA
RED SEA MINING LLC Makkah Road Behaind Al Issai, SA
RED SEA INDUSTRIAL SUPPLY & CONSTRUCTION COMPANY Po Box 2761, SA
Rred Sea Marine Services Al Andalos Street, Jeddah, SA
RED SEA INDUSTRIAL SUPPLY & CONTRACTING COMPANY LTD 12 Al Salloum Street Al Hamra District, Jeddah, SA
RED SEA OFFICE FOR TRADE AND MARKETING Block 3 South Of Al Mokhtar Su, Jeddah, SA
RED SEA ALUMINIUM FACTORY FOR HOUSEHOLD EST Prince Fahad Street, Jeddah, SA
RED SEA INSURANCE (SAUDI ARABIA) E C Al Andalus Street Off Al Watan Al Arabi Street, Jeddah, SA
partysasquatch
In reply to: partysasquatch who wrote msg# 53872
Date: 8/24/2006 2:11:01 AM
Post #
They are in Jeddah, as the third clue. /ePosted by: partysasquatch
In reply to: partysasquatch who wrote msg# 53873
Date: 8/24/2006 2:12:34 AM
Post #
Fourth clue: They are close to Wessal.
Party
PS - I am having fun not sleeping. lol
Posted by: partysasquatch
In reply to: TexasLongTrader who wrote msg# 53879
Date:8/24/2006 2:26:03 AM
Post #of 58525
The problem with web searches is that most of the stuff in the Middle East is not on the web. We are so used to looking up a plot for any building in the US. It is all public info. People can be located easily by utilities paid, etc.
When it comes to the middle east, google is almost completely worthless. Nobody there spends millions of hours putting everything on the web. Just look at Rheem Island on the web. There is no real information on who owns a 99 year lease or bought the property outright. The Middle Eastern culture is just starting to understand the power of the web.
I cannot post the report. It does not have to be you who buys the report, but somebody on this board should. It is tough sitting here and stating that, but I have a reason for it.
Party
bonedaddy- thanks for your efforts tracking the big block trades-
also imo red sea housing is not the one we are connected to. and here is translation link someone just asked about http://babelfish.altavista.com/translate.dyn
petar, steve, ahmed and roth w party and rig asking questions would be my ideal radio show.
diaaf chart- mwm brought earlier -looks vewwy intewesting
talked w steve taylor ir and he thought A.S. 300 O.S.300 and float 60 million but was having conference call today and would clarify-i'll call again tomorrow cause
pink sheets 20-f filing said os in nov 05= 543 m .
do not see where they are incorporated (not nv)to verify authrzed, left a message w transfer agent. very interesting...
rheedle-great work- great product- do you know the share structure?
<font color=green>test
wieeeerrd!hmmmmm "SLJB SUIJA BROS BUILD SUPPLIES LTD"
7/31 pr "CEO Sulja and The Red Sea Group also reiterated that there will not be a reversal of shares, and that the new entity is capable of sustaining the numbers necessary to reach a broader exchange."
read the prs first, (then post)...