Roxy-Pacific Holdings Limited (“Roxy-Pacific” or “the Group”) refers to the article
“Developers offer price cuts, discounts on new projects” (Business Times, January 17,
2011).
The Group wishes to state categorically that none of the units for Spottiswoode 18
start from the lower price range of S$600,000 as stated in the aforesaid article. The
price list is being finalised ahead of the soft launch of the 251-unit prime property
tomorrow, January 18, 2011.
ocbc initiated coverage at 55 cents, same as DBS Vickers, which means the stock has another 10 cents to go from current 45.5. Stable business with lots of revenue to be booked over the next 2-3 years.
The analysts are rather conservative.
The hotel alone is now revalued at S$300+million versus S$200+ last year.
That surplus alone (without development profits and Kovan surplus) brings the NAV up to close to S$0.70 per share.
Well it may be for discounting the risk for holding a counter with a higer gearing and a risk of a second global meltdown, both are very unlikely to occur.
Attached are writings from my blog on this counter.
skewed-odds.blogspot.com/2011/02/updates.html
skewed-odds.blogspot.com/2010/04/on-roxy...ic-e8zsi-roxysp.html
UP 1 cent to 46 cents. The possible catalysts for the stock price will be a successful sell out of the projects to be launched in the next few months. These are commercial projects and I tink they would not hv a problem selling. Of more concern wld be the resi projects -- they just bought 2 resi sites according to NextInsight article . These will be launched much later -- dont know when,, maybe FY12