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When market don't like this IPO, no matter how good fundamental is it no use... Lippo Group is famous in keeping the money tight tight , when they said 30 c div given to you ,they will try to deduct the same amount from share price after xd ...in the end we got no gain .. LP vs PL lah...like Baker Tech give out 10 c div but share price dropped more than 10 cents when xd....
Does anyone has the same sentiments as me?
http://dividendboy94.blogspot.sg/2013/07/overseas-union-enterprise.html?m=1
Sorry, he told me the min also 30c, hope i share, Thanks , i did not hear wrongly.
and on top of the benefit of the reit. why not?
johnloke49 ( Date: 27-Jun-2013 13:57) Posted:
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Hi, I wrote to the invester relation, here is the reply, but according to the est workout by my broker, it is close to or more than 30c.
Dear Mr Loke
We refer to your email of 25 June 2013.
We are unable to advise you on the post-disposal Special Dividend amount at this moment as the completion of the disposal of the properties has yet to take place.
Pursuant to our Circular to Shareholders dated 7 June 2013, please note that the Shareholders will receive the Special Dividend in cash on such date after the Proposed Disposal is completed as the Directors shall decide.
The date of disposal and date of completion has yet to be determined.
As stated in the our Circular to Shareholders dated 7 June 2013, the amount of the Special Dividend shall be up to 50% of the remaining proceeds after deducting the payment of existing debt from the cash proceeds.
Thank you.
Kind regards,
Adelene Yeoh
Senior Corporate Secretarial Executive
50 Collyer Quay
#18-01/02 OUE Bayfront
Singapore 049321
DID: 6809 6015
Fax: 6809 6063
E-mail: adeleneyeoh@oue.com.sg
paul1688 ( Date: 26-Jun-2013 22:17) Posted:
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my broker confirm it.
Now dow rally on bad data, Me wonder what the dow will be if tonite the GDP is 3%?
paul1688 ( Date: 26-Jun-2013 22:17) Posted:
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This one is a very good counter, I do not have to worry about it like penny.
And 30c div is a good catalyst for the stock to soar. Buy now before inst, rush in.But i think because the market is bad, they may wait awhile before listing.
But the reit is a done deal, a matter of time only. Cheers. bought only 5 lots.
ysh2006 ( Date: 26-Jun-2013 18:26) Posted:
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They already do so on 25/6
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_063FA3D4B810B8C648257B95003059FC/$file/OUE_June2013EGM_Results.pdf?openelement
ysh2006 ( Date: 26-Jun-2013 18:26) Posted:
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Dear Sir Why OUE didn't put this good news in SGX ? ....anyway thanks for sharing!
johnloke49 ( Date: 26-Jun-2013 17:09) Posted:
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My friend went to their EGM, he said the company is giving out 30c special div, they will retain 30 to 38% of the reit.just to share, I believe the share will soar, just bought some.
OUE posts 91% fall in Q1 profit after tax to $2mil
WRITTEN BY THE EDGE MONDAY, 06 MAY 2013 22:46
Property developer Overseas Union Enterprise (OUE) said it closed the quarter ended 31 March 2013 (Q1 2013) with 91% fall in profit after tax to $2 million.
The group recorded total revenue of $105.4 million, an increase of $8.1 million over the same period last year mainly due to higher revenue from its Property Development division and offset partially by lower revenue in its Hospitality and Property Investment division.
Gross profit decreased by $3.5 million as a result of lower rental revenue from 6 Shenton Way Tower 1 due to the relocation of a major tenant.
However, in tandem with an increase of corporate development activities, administrative expenses increased from $8.6 million in previous year to $14 million in 1Q 2013. These administrative expenses include insurance, legal costs, professional fees and hotel corporate expenses.
Finance expenses also increased from $18.6 million to $33.5 million, due to higher interest cost resulting from more borrowings, exchange loss arising from translation of a USD loan and the mark-to-market fair value loss on the USD/SGD currency swap. The USD loan was taken up for the F& N acquisition transaction, which lapsed in January 2013.
The company said it entered into the USD/SGD currency swap to hedge the USD loan against the SGD. Arising from the hedge, the exchange losses for this quarter would be a one-off expense. The fair value loss on the USD/SGD currency swap was a non-cash item.
Shares of results of associates and jointly controlled entity improved to $4.6 million versus $2 million in the previous year, due mainly to better occupancy achieved by One Raffles Place Tower 2.
As a result, the net profit before tax decreased to $5.9 million as opposed to $27.8 million over the same period in 2012. However cash generated from operations for Q1 2013 remained the same as last year at $28.9 million.
The group is currently leasing out the remaining available office space at OUE Bayfront, 6 Shenton Way Tower 1 and One Raffles Place Tower 2. The uptake has been steady as the availability of prime space will be increasingly scarce over the next couple of years until the completion of the next phase of office development in the CBD.
In addition, exciting plans for the development of retail podium at 6 Shenton Way are underway. With over 150,000 sq ft of space, OUE is poised to be the first developer to complete a retail mall in the Shenton Way.
By the end of 2013, OUE is set to unveil the revamped retail mall of One Raffles Place which will provide a revitalised retail and dining hub for those working at Raffles Place. ...Prev Close: $3.14...
Singapore Daily OUE: Time Ripe for Harvesting Initiate at BUY, TP $3.57 We initiate coverage on OUE with a BUY and target price of SGD3.57, set at a 30% discount to our end-FY13F RNAV estimate of SGD5.10. Our TP is one of the highest on the Street, as we have included OUE’s US Bank Tower acquisition. We think this acquisition should be opportunistic in nature and will add SGD12 cents per share to our RNAV, with an IRR of 13% over five years. Previous concerns about it veering away from OUE’s longer-term strategy are overdone, in our view. We see the floating of a hospitality REIT as a near-term catalyst for OUE. Mandarin Gallery and Mandarin Orchard may be the first two assets to be injected into the initial portfolio at SGD1.8b with effective cap rates of 5.2-5.4%. This will garner DPU yields of 5.3-6.7%, which investors should find appealing. In our view, a REIT spin-off could unlock ~SGD1b divestment gain on OUE’s books, with cash raised totaling SGD841m or SGD0.92/share (assuming 30% holding in the REIT), and perhaps a special dividend in FY13F estimated at SGD5-14 cents (5-15% payout).
...Last Done: $3.010...
OUE is up 3.3% at $3.10, tapping its highest levels since June 2011 on trade resumption after the company made an official statement that it is in preliminary talks with bankers for the potential listing of a REIT in Singapore, although it hasn't decided which properties to inject into the portfolio or the timing for the IPO.
" Obviously, this makes things more visible," says Donald Chua, an analyst at CIMB, noting management mooted a REIT plan a couple years ago, but the listing didn't materialise. " The market can expect this event to happen sooner rather than later."
He doesn't expect OUE to spin off its entire 100% interest in the REIT. " The excess capital will be used for growth and acquisitions," he says.
He notes management has said Singapore will remain the bulk of OUE's exposure, despite its recent purchase of a commercial property in the US.
WRITTEN BY DOW JONES & CO, INC
Singapore property firm Overseas Union Enterprise has chosen three banks for its planned US$800 million ($1 billion) listing of a hospitality real estate investment in the second half of the year, sources said.
The plan comes as 2013 is shaping up as a busy year for REIT IPOs in Singapore, which are attractive to investors looking for steady income streams.
OUE chose Credit Suisse, Goldman Sachs and Standard Chartered to advise on the listing, sources with direct knowledge of the matter said.
Led by Indonesian tycoon Stephen Riady, OUE revived plans for the REIT listing soon after it lost the battle to buy Fraser and Neave to Thai billionaire Charoen Sirivadhanabhakdi, sources said.
OUE's hotel properties include Mandarin Orchard Singapore, Marina Mandarin Singapore, Meritus Pelangi Beach Resort & Spa Langkawi, Meritus Mandarin Haikou and Meritus Shantou China.
The firm, which owns commercial properties and hotels, had earlier planned a REIT in 2011, but it was delayed.
guoyanyunyan ( Date: 05-Mar-2013 23:00) Posted:
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OUE has decided not to revise the Offer Price. OUE " has enabled F& N shareholders to increase the value of their
investment, TCC’s offer price having increased from S$8.88 to S$9.55. This represents an increase in the
value of F& N as a whole, of almost S$1 billion." Vgood decision!!!
starlene ( Date: 24-Dec-2012 12:45) Posted:
Net profit for the second quarter of this year was a whopping 378% higher than the corresponding quarter last year.The gross margin of 44 % was also and the margins had already been improving for the preceding three quarters.
Ms Saw should prove to be a good fit for Auric ,given her retail experience at DFS and SMRT.She transformed from retail and advertising fronm next to nothing into as much as half of SMRT's operating profits after joining SMRT in 2002.Under her 10year watch,SMRT's profits more than doubled from $57mil to $161mil in FYE 2011
Auric is a unit of the Indonesian conglomerate Lippo Group with portfolio includes the Sunshine Bread,SCS butter,eatery chain Delifrance and public listed Food Junction
Analysts speculate that Ms Saw's key mandate might be to turn around Auric for sale by the Riady family since the Riady's biggest flagship here is now Overseas Union Enterprise
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[Potential Slow] SAW Phaik Hwa will be CEO of bread maker
As at 24Dec Auric was $1.12
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JustinQuek ( Date: 20-Sep-2012 00:24) Posted:
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Shorted this big time today via Stockwhiz lmao .2.84
Now my ranking gone zzz
Zhiwei ( Date: 19-Sep-2012 14:03) Posted:
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