Hotel Grand Central Limited through its wholly
owned subsidiary, Hotel Grand Chancellor (Cairns) Pty Ltd has entered into an
agreement on 3 October 2013 with third parties to acquire the Novotel Palm Cove
Resort and its business for A$10 million. The purchase consists of approximately
36,461 square metres of freehold land contained within Lots 7, 10 and 11 on SP
189716 together with all building and improvements and the Plant & Machinery
used at the building. The Novotel Palm Cove Resort is a 4 star resort hotel and
conference centre located at Coral Coast Drive, Palm Cove, Queensland,
Australia... http://www.btinvest.com.sg/markets/n...source=si_news
Two
new and separate 10-storey hotels of 264 and 488 rooms at the adjoining freehold
and leasehold land areas of 1239sq m and 2805 sq m with target openings slated
in Oct 2014..at the last AGM directors are of view can open for business earlier
may be first quarter in 2014.NTA $1.53 in 2012 verses $1.31 in 2011.Currently
share price about $1.06,wonder why H Grand central always much lower than Hotel
Royal (share price about > $3) although profit wise and operations also in
Orchard Rd but H Grand Central is just in front of Istana and has operations in
Malaysia,Australia and New Zealand
Two new and separate 10-storey hotels of 264 and 488 rooms at the adjoining freehold and leasehold land areas of 1239sq m and 2805 sq m with target openings slated in Oct 2014..at the last AGM directors are of view can open for business earlier may be first quarter in 2014.NTA $1.53 in 2012 verses $1.31 in 2011.Currently share price about $1.06,wonder why H Grand central always much lower than Hotel Royal (share price about > $3) although profit wise and operations also in Orchard Rd but H Grand Central is just in front of Istana and has operations in Malaysia,Australia and New Zealand
I would love to try staying in the new hotels coming up at the end of Orchard Road. That is after I got the dividends for few years. But steady la, my hunch is that this will be a quite performer in time to come.
Wow never ever imagine that I will get to stay in Hotel Grand Chancellor in Wellington..saw the hotel in Auckland before we came down from there.First impression,so much better and even free wi-fi and internet usage unlike all other hotels in N.Z..even the Millenium Hotel charged for all these services.Staff and ambience better than the old hotel back home in Orcahrd,hope the new 2 hotels to be completed by 2014 will be just as nice as this one I am staying tonight with my family and the share price go past $1.50
Wow about a year since my comment last yr,share shot from about 78cts to $1.12 in 2013,29April..NTA $1.53,@ brand new hotels New Hotel Grand Central & New Hotel Grand Chancellor both at land infront of Istana expected date of completionin Oct 2014..Chairman assured no rights issue even after completion..5cts tax exempt
starlene ( Date: 02-May-2012 10:02) Posted:
The hotel at Orchard will cease operation on 1 aug 2012 and a new 10 storey hotel plus a smaller hotel next to it will be up in 2015..yearly dividend of 5% can be maintain
The hotel at Orchard will cease operation on 1 aug 2012 and a new 10 storey hotel plus a smaller hotel next to it will be up in 2015..yearly dividend of 5% can be maintain
Anybody ho;d this share.It finally hit $1 again.The AGM and EGM will be this wed at 11.30am at the hotel itself.Co has made earnings from its hotel operations in Australia and NZ due also to currency appreciation.It has won a site in little India to build another hotel besides its main 4 star hotel at Orchard Rd next to Istana
H G Central temporary dropped <$1.00 probably due to fear that a deceased shareholder who owned 12.6mil shares in H.G Central had bequeathed 50% to his wives in Singapore and 50% to his wife in Malaysia as reported in Wan Pao.The law suit was taken up by his daughter in S'pore who was not given any shares..likley will go above $1.00 soon when ths fear of sale of 12.6mil shares sale.There is also substantial shareholder buying in the last few months
Collected dividend $1070.98 ( 2% ) from 53,549 HGC shares on 25May 25 2007 and interim (5 % ) accepted shares (2677 shares) in lieu of cash dividend 2811.30 making a total of 56,226 shares in my cpf portfolio..in view of its gd performance in Australia and NZ and it is going to build another hotel near Little India,expect better dividends...last yr co declared 1 for 20 bonus shares...a pittance and criticised dyring AGM..hopefully mgt will be > generous this year
3Q buoyed by several one-off items. Hotel Grand Central's (HGC) 3Q07 earnings were stronger than expected boosted by several one-off items. Net earnings came in at S$16.2m, up 60% YoY, on flat revenue of S$32.8m. This came from exceptional gains of S$1.5m, write-back of deferred tax and a forex gain of S$1.4m. The latter was largely due to the sharp appreciation of the Australian dollar (AUD) in recent months. Since the start of the year, both the AUD and New Zealand Dollar (NZD) have appreciated against the Singapore dollar (SGD). The most acute jump took place in 3Q07 where the AUD shot up by about 9% against the SGD and the NZD by up about 4.2%. As HGC continues to derive a significant portion of its earnings from both countries, this has a positive impact on the group. The tax credit was due to the write-back of deferred taxation previously provided for the Hotel Grand Chancellor Perth which it sold for A$52m in June 2007.
With the better cash position, the group also benefited from higher rental income and lower interest expenses. Overall, its hotel operations in Singapore, Australia and New Zealand continued to enjoy better rates, although the flat revenue was once again attributed to the sale of its Perth Hotel in Jun 2007. For the 9-month period, revenue rose 4% YoY to S$100.7m, while net earnings moved up 74% YoY to S$48.3m.
Raising FY07 and FY08 estimates. We are adjusting our FY07 earnings from S$45.7m to S$56.1m, largely to reflect the exceptional gains, higher forex gains and the write-back of taxes in 3Q07. For FY08, we are increasing our earnings from S$28.2m (assuming no exceptional gains) to S$31.1m, mainly to account for higher interest income and forex gains of S$0.7m (versus S$0.4m previously).
Maintain BUY. The stock has once again done well so far this year, marking its third year of strong double-digit capital gains. Recently, it touched a high of S$1.37, but closed yesterday at S$1.07. With the sharp appreciation of the AUD, we expect this to re-ignite interest in HGC for its exposure to the Australian market. We reiterate our BUY rating for HGC due to the still buoyant outlook for Singapore and the regional tourism industry. Our fair value estimate for the stock remains at S$1.25.
Collected dividend $1070.98 ( 2% ) from 53,549 HGC shares on 25May 25 2007 and interim (5 % ) accepted shares (2677 shares) in lieu of cash dividend 2811.30 making a total of 56,226 shares in my cpf portfolio..in view of its gd performance in Australia and NZ and it is going to build another hotel near Little India,expect better dividends...last yr co declared 1 for 20 bonus shares...a pittance and criticised dyring AGM..hopefully mgt will be > generous this year
CLICK: Forums Main Page / New Posts #5 14th November 2007, 08:26 PM
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Getting a lift from higher AUD
--------------------------------------------------------------------------------
Source: OCBC Research
3Q buoyed by several one-off items. Hotel Grand Central's (HGC) 3Q07 earnings were stronger than expected boosted by several one-off items. Net earnings came in at S$16.2m, up 60% YoY, on flat revenue of S$32.8m. This came from exceptional gains of S$1.5m, write-back of deferred tax and a forex gain of S$1.4m. The latter was largely due to the sharp appreciation of the Australian dollar (AUD) in recent months. Since the start of the year, both the AUD and New Zealand Dollar (NZD) have appreciated against the Singapore dollar (SGD). The most acute jump took place in 3Q07 where the AUD shot up by about 9% against the SGD and the NZD by up about 4.2%. As HGC continues to derive a significant portion of its earnings from both countries, this has a positive impact on the group. The tax credit was due to the write-back of deferred taxation previously provided for the Hotel Grand Chancellor Perth which it sold for A$52m in June 2007.
With the better cash position, the group also benefited from higher rental income and lower interest expenses. Overall, its hotel operations in Singapore, Australia and New Zealand continued to enjoy better rates, although the flat revenue was once again attributed to the sale of its Perth Hotel in Jun 2007. For the 9-month period, revenue rose 4% YoY to S$100.7m, while net earnings moved up 74% YoY to S$48.3m.
Raising FY07 and FY08 estimates. We are adjusting our FY07 earnings from S$45.7m to S$56.1m, largely to reflect the exceptional gains, higher forex gains and the write-back of taxes in 3Q07. For FY08, we are increasing our earnings from S$28.2m (assuming no exceptional gains) to S$31.1m, mainly to account for higher interest income and forex gains of S$0.7m (versus S$0.4m previously).
Maintain BUY. The stock has once again done well so far this year, marking its third year of strong double-digit capital gains. Recently, it touched a high of S$1.37, but closed yesterday at S$1.07. With the sharp appreciation of the AUD, we expect this to re-ignite interest in HGC for its exposure to the Australian market. We reiterate our BUY rating for HGC due to the still buoyant outlook for Singapore and the regional tourism industry. Our fair value estimate for the stock remains at S$1.25.
just to clarify some doubts CPF holders may hve with regard to their eligibility to attend AGM/EGM.
quote="darenTan"][quote="meatball"]Vested with CPF can also go to its AGM etc? shareholders with CPF vested cannot vote in the AGM right? But are the company's shareholders registrar holds the CPF vested shareholders name and details?[/quote] Hmm, you found something fishy ? :lol: :lol:[/quote]..CPF holders can still attend as observers but cannot vote that what's hve been doing.recently H Grand Central successful bid for a plot of land at Little India will be boosted by Singapore Healthpartners(ST 28Sept) successful bid for nearby land at $265.3mil also for hotel development.....H Grand Central has recently allowed its interim dividends to be converted to > shares if shareholders did not want cash but > interested in the higher value shares...gd prospect as hotel occupancy has exceeded 90%
Hve been holding this counter since 1996/1997 when it was only 35cts and from about 40 lots to >60lots as the conversion from its dividends exchangeable into mother shares is indeed attractiv
Source: Kim Eng
Hotel Grand Central (TP S$1.40) Hotel Grand Central should continue to benefit from rising room rates amid tight supply conditions for hotel rooms in Singapore, Malaysia, New Zealand and Australia. The company has capitalised on favourable market conditions and monetised a number of its commercial and hotel assets. It is currently in an enviable net cash position ? rare for a hotel owner. Part of the proceeds have been deployed into a proposed hotel development project at Belilios Road, which Hotel Grand recently clinched in a land tender. We believe company?s asset value are conservatively stated. We have a fair value of S$1.40 for the stock, based on 1.1x FY07 BV.
e...Kim Eng also recommend buy at current level $1.07
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14th November 2007, 08:26 PM 
Getting a lift from higher AUD 
