One of the greatly undervalued property stocks in SG. The subst shareholders should just do a privatisation offer like what Simon Cheong has done @ SC Global, and the stock price will shoot up towards its fair value. hey can shoot from 63 cents currently to $1.00, when the rnav is $1.20.
Key picks are Wheelock Properties, a developer with a strong niche in the luxury market and has established pricing power trading at a 30% discount to RNAV and Hiap Hoe Limited,
trading at 50% discount to RNAV with a ready stockpile of units from its recently completed Skyline 360° at St Thomas and Treasure at Balmoral.
The Days Hotel @ Zhongshan Park probably will need time to achieve 90% average occupany rate. Patience is needed to see the hotel (+ Ramada) contribute to the bottomline of HH. The big picture is attractive: budget airlines are getting more  tourists into SG and these are the people targetted by 3-star hotels.
If ever there is an economic downturn, economy-tier hotels are more resilient than 5-star ones.
Given the S$1.20-1.30 RNAV of Hiap Hoe, this stock is attractive to me at the present 65-cent level.Â
@ Sana
Hiap Hoe looks like great company, perhaps the most undervalued developer in Singapore, amazing p/e , gearing slightly high for my liking..but overall looks good
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can ask a question:
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who calculates the R NAV?Â
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