Taken the opportunity to buy some Superbowl at 48.5 cents before their release of result on 22 Feb 2013 which expect to book the profit for the remaining of their condo project.
Hiap Hoe down for past few days after release of result. Manage to by some at 67.5 cents for longer term investment. Hope to be able to see the positive cashflow from their hotel/office/retail for this year.
FYI Phillip Capital research has an unrated report on ChipEngSeng today, valuing its RNAV at $1.49, which is quite close to sumer's estimates of $1.60.
I am not sure how to attach the report, but here is a short write up of it on a blog:
alanu6.blogspot.sg/2013/02/chip-eng-seng.html
The main difference I believe might be due to Phillip's report valuing the 4 star Alexandra hotel much more conservatively at $500k per key instead of sumer's $650k.
Park Regis a 4 star hotel at Merchant Road has been put up for sale again and is estimated to be able to fetch $220-230m. CDL HTrust are among the interested parties and there is talk that it will be going for $250m. The hotel has 203 rooms with a 7 storey office tower of 41,452sqf of NLA, and I think that could work out to be about $1m per key, though its located more centrally.
www.propertyguru.com.sg/property-managem...e-back-on-the-market
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Last edit: 11 years 9 months ago by Wiki. Reason: Typo
Hiap Hoe, if I am not mistaken, had tried to shoot past 70 cents last year. This time it went as high as 73 cents but fell back. I believe after the results announcement, people took profit and/or disappointed with the small dividend.
I have held HH since 45 cents and wish to continue to hold it as it is too cheap to let go. Its RNAV is about $1.20 and its 2 hotels have now added new muscle to its business. Just my 2 cts worth. Don't have to agree with me.
Thanks Big Fish. I too have held on to HH and SB for some time now. The dividend of 0.5 cent for HH does seem to be a bit disappointing.
Big Fish wrote: Hiap Hoe, if I am not mistaken, had tried to shoot past 70 cents last year. This time it went as high as 73 cents but fell back. I believe after the results announcement, people took profit and/or disappointed with the small dividend.
I have held HH since 45 cents and wish to continue to hold it as it is too cheap to let go. Its RNAV is about $1.20 and its 2 hotels have now added new muscle to its business. Just my 2 cts worth. Don't have to agree with me.
