Hiap Hoe

another year of 0.25 cent final dividend -- what an unsatisfying return!
Add 0.25 c for interim = 0.5 cent.
Measly 1% yield  a year. What a fish

Today, Hiap Hoe  +1 cent = 53 cents. Volume 891,000 shares.

I drove by the Hiap Hoe project in Balestier, near Sun Yat Sun villa. Nice to see the Zhongshan Park is built already -- green acres -- and the 2 hotels are about half-way up. When completed they will be an icon of Balestier. 

If the sons of Teo Guan Seng are worried about takeover, they should buy the stock and raise their % holding for good defence.

DMG & Partners Research’s Mar 20 research report was overly conservative. Only 61 cents as target? Crazy!

DMG research report says: "Hiap Hoe reported another consecutive year of record earnings for FY2011, with net profit of $47.4 million (+37% y-o-y).

"Over the next two years, earnings will be underpinned by progressive profit recognition from its substantially pre-sold projects, Waterscape at Cavenagh and Skyline 360°. At Zhongshan Park (Balestier Road), its hotel-cum-commercial development is progressing ahead of schedule and will provide a source of recurring income when completed in 2013/2014.

"We continue to like the stock for its earnings visibility, disciplined management and undemanding valuation. Our target price of 61 cents is based on 50% discount to its RNAV. MAINTAIN BUY.

52-52.5 cents. Volume is low = no great selling pressure, no hurry to buy LOL.
Can enter? When can enter?