Stamford Land    Last:0.44   -

Time for Re Rating?

IreneL,

Good luck with this.......40.5 cts is still a discount on historical NTA.

 

Hi shplayer

Am vested too.  Bought them at 0.405 last month.  But not sure if I will sell them.  Movement is slow, I agree, but believe in its slow and steady climb.

 

tycoon,

Result date not announced yet......

For more info on Co. you may like to refer to my FA posted in this thread on 24 Oct 2006.

 

Anyone know when the results will be out ??

This thread is quiet since...... any advice on this counter ??   :)

 

After napping for 1 month, this couter is moving again. Volume is also good.



3Q (31 Dec 06) result should be good as they will post the sales/profit of the luxury Stamford Marque Apartments at the ROCKS in Sydney.



Vested

Vested.

 

Yup, long term investors need no strategy or trading system other than to buy and hold. Chances for profit are good in the long term, or if one is lucky, or psychically inspired, the price may shoot higher soon after you have bought, Which is a possibilty.

 

Hi xmen2102

Must agree that Stamford Land is slow and steady - not for punting but as long term investment.

Bought in this morning at 0.405 (on the high side) but intend to keep for awhile.

 

This seem to be a "buy high, sell higher" strategy. ...anyway, in the longer term it's sure to win out in spite of the short-term risk.

 

no problem ireneL....

Just sharing with fellow interested vestor......

i personnelly quite like this counter myself.........slow and steady.........good for long term investment....

 

Hi xmen2102

Many thanks for this full report - very helpful.  I didnt manage to enter at 0.395 so will have to buy in tomorrow at 0.40 (hopefully).

 

Sale of hotel  was not in my calculations.....so, it is an added bonus.

Could Chmn Ow be doing to SLL what he did to Sp Ship in 2005....i.e. sell almost all the ships at the peak of the shipping boom? 

 

Report from Lim & Tan Security:
Based on Tuan Sing?s revised offer for Grand Hotel Australia, our back-of-the envelope calculations suggest Stamford Land is worth 64 cents.

- A$1.30 per share effectively values Grand on an EV of A$486mln (S$560mln). Measured against its portfolio of 1,823 rooms, this equates to
S$308,000 per room, which is only fair, considering that the bulk of Grand?s assets comprise 5-star properties in the major cities in Australia.

- At 36 cents, investors are valuing Stamford Land on an EV of S$581.3mln. Adjusting for its development land bank, conservatively based on book of S$169.2 mln (i.e without taking into account the development profits), investors are effectively according a value of S$412 mln to its portfolio of 2,121 rooms (excluding 213 rooms under management for third party), or $194,000 per room.

- We maintain Stamford Land?s portfolio is no less attractive than Grand?s.

- Finally, to add credence to the above valuation, note the participation of Morgan Stanley Real Estate in Tuan Sing?s bid.

There is however a big difference between the 2 situations: unlike Grand Hotel, Stamford Land has a controlling shareholder in Ow Cho Kiat with
42.4%, ie there is little chance of a hostile bid, as Mulpha?s bid had done, and which triggered the battle for Grand. OCK has to want to sell, to
realise the full value of Stamford Land. Also, note that Singapore Shipping, Ow?s other listed company, is sitting on almost S$200 mln cash!

Still, Stamford Land shares are compelling. At 36 cents, it trades on18.2% discount to latest book of 44 cents per share. Based on valuation for Grand, the discount goes up to a whopping 44%.

 

Thanks xmen2102 for this piece of additional information.  Goes to show shplayer's FA was good.

 

64c? wow thats alot room to grow.

 

Thanks shplayer for your insights.  Am grateful.

I havent heard from my broker and its already past 5 pm, so guess my intended offer at 0.395 didnt succeed.  I am pretty surprised as the selling volume doubles that of buying.

 

the increase was due to recent sale of hotel in australia to tuan sing......

basing on the sales, sl hotel properties comapre to its current share px is undervalue....

is value at about 64 cents excluding development properties.

report is from Lim & Tan

 

The beauty of FA is when you see value in a stock, and before the market at large realises it, you can accumulate at you leisure (buy at dips) and at the price you want to pay.

Because you've done your FA, if it dips after your purchase, the stock is even better value and this presents further buying opportunity. If the market turns really bearish, you don't need to lose sleep, cos you are well aware of the real value of the stock.

Then, it is just a matter of waiting for the market to swing its attention and discover it. If the upturn takes longer than anticipated, then just hold on and collect dividents....Stamford Land paid 3cts less tax for FY 2006.....pretty good yield at this price. :-)

 

Hi shplayer

Your FAs were spot on.  Its price has now gone up to 0.395 - 0.40.  I was unsuccessful in getting in at 0.385 so hopefully at 0.395.

 

StamfordLand  has already broken out of the right-angled wedge. And that's the reason why is surged up.  :)

 

Hit 39.0 cts on strong buying vol. Now 38.5 cts :-)