Hiap Hoe

Unlocking of value:

the Company is proposing a spin-off (the “Proposed
Spin-Off”) of its property business in Australia, which is held under Meteorite (Australia) Pte Ltd, a wholly-owned subsidiary of the Company, to be listed (the “Proposed Listing”) on the Catalist board of the Singapore Exchange Securities Trading Limited (the “SGXST”) (the Proposed Spin-Off and the Proposed Listing collectively, the “Proposed
Restructuring”).

Wow, people are spinning units off all over the place these days - Yahoo, Boustead, and now HH. But Keppel is spinning KepLand back in under its fold - strange, yah! Some spin off, some spin in - this is a crazy world!

My head is spinning around at the deep value of Hiap Hoe as it's RNAV is above SGD1.50/share by most estimates.

After applying a discount of 30% to RNAV, the TP is SGD1.05. How not to buy and hold?

why not buy Chip Eng Seng better?

Its RNAV is more than $2.00...

Hiap Hoe's chairman just bought 12,379,100 shares @ $0.7 through a married deal.

A new privatisation move?

Chairman's stake lifted to 72.48% after this married deal, wonder who the counter party is?

His brother Roland(MD of the co) is not well and on prolonged medical leave since November last year.

Recent moves to sell it's 2 properties in Melbourne:
- 206 Bourke Street which profits has just been booked in the 1Q
- 380 Lonsdale Street's deal to be complete on or before 29th July.

Co will not have much on it's hands after this.

Could all this point to a possible privatization move? Or a divestment of it's assets in Melbourne and a return to focus on it's smaller business in SG.