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Dividends must wait until August leh... Hope the Aussie Dollar can strenghten a bit...
Good dividend stocks ... moreover property and tourism is moving up in Australia..do not sell until at least .60
chinton86 ( Date: 09-Mar-2010 13:44) Posted:
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CK Ow did explain that the buyer was just trying to buy time and dragging and had no intention of buying. It would be waste of time and money on due diligence, so he choose to abandon the selling. He did admits it's a good offer.
shplayer ( Date: 09-Mar-2010 09:37) Posted:
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Yes tonylim, you are right.......it was in March 2008.
However, its only natural that STL board had to explain why the deal did not go thru......but I think part, if not much of the blame lies with the board. If you refer to their announcement of 20 Mar08,
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_2DDE6D45B7997858482574120040B1C1/$file/SLC_Announcement_20032008.pdf?openelement
para 4....it says 'As the Group was not keen to sell.....'
If the board was keen on the deal going thru, could they not have granted an extension with another non refundable deposit....as was with the first instance.
I still believe it was a missed opportunity.
Having said that, I also believe that the market currently undervalues STL due to the Aussie and NZ accounting rules for depreciation for properties. |
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CK Ow did explain that the buyer was just trying to buy time and dragging and had no intention of buying. It would be waste of time and money on due diligence, so he choose to abandon the selling. He did admits it's a good offer.
shplayer ( Date: 09-Mar-2010 09:37) Posted:
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Yes tonylim, you are right.......it was in March 2008.
However, its only natural that STL board had to explain why the deal did not go thru......but I think part, if not much of the blame lies with the board. If you refer to their announcement of 20 Mar08,
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_2DDE6D45B7997858482574120040B1C1/$file/SLC_Announcement_20032008.pdf?openelement
para 4....it says 'As the Group was not keen to sell.....'
If the board was keen on the deal going thru, could they not have granted an extension with another non refundable deposit....as was with the first instance.
I still believe it was a missed opportunity.
Having said that, I also believe that the market currently undervalues STL due to the Aussie and NZ accounting rules for depreciation for properties.
tonylim2 ( Date: 13-Feb-2010 16:55) Posted:
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The A$850 millions deal cancelled by CK OW in 2008 ( not 2007 )becos the buyer couldnot raise the financing, this was brought up by OW during the AGM in 2008. Ow explained with a slide , shown how the buyer played delay tactic by asking extensions again and again and forced SLC management to cancell the deal. Believe if the buyer was proactive to cancel, they have to pay a higher penalty.
Nobody known whether there were other buyers in talk with SLC to buy the hotels, except CK and his teams. But it was very obviuos during that time who would want to add assets to their portfolios when many were trying offload with financing difficulty.
Believe the hotels is still for sales, it is only the price and timing, Certainlly Ow would not be that lees smart to show that he is desperate to sell or it is a must sell asset. |
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Any guesses when we can see a move again??
Yes tonylim, you are right.......it was in March 2008.
However, its only natural that STL board had to explain why the deal did not go thru......but I think part, if not much of the blame lies with the board. If you refer to their announcement of 20 Mar08,
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_2DDE6D45B7997858482574120040B1C1/$file/SLC_Announcement_20032008.pdf?openelement
para 4....it says 'As the Group was not keen to sell.....'
If the board was keen on the deal going thru, could they not have granted an extension with another non refundable deposit....as was with the first instance.
I still believe it was a missed opportunity.
Having said that, I also believe that the market currently undervalues STL due to the Aussie and NZ accounting rules for depreciation for properties.
tonylim2 ( Date: 13-Feb-2010 16:55) Posted:
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The A$850 millions deal cancelled by CK OW in 2008 ( not 2007 )becos the buyer couldnot raise the financing, this was brought up by OW during the AGM in 2008. Ow explained with a slide , shown how the buyer played delay tactic by asking extensions again and again and forced SLC management to cancell the deal. Believe if the buyer was proactive to cancel, they have to pay a higher penalty.
Nobody known whether there were other buyers in talk with SLC to buy the hotels, except CK and his teams. But it was very obviuos during that time who would want to add assets to their portfolios when many were trying offload with financing difficulty.
Believe the hotels is still for sales, it is only the price and timing, Certainlly Ow would not be that lees smart to show that he is desperate to sell or it is a must sell asset.
shplayer ( Date: 13-Feb-2010 16:05) Posted:
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That is about right...but Chmn Ow held too much sentiment in the hotel business (he built it up from scratch...the shipping business was inherited - but he added value) and missed the opportunity in 2007 to realise shareholders value. If the deal went thru, it would have given STL balance sheet net cash of 77c per share) .......what a shame!!!!!
Bear in mind, when he rejected the offer, he said that they are talking to other parties to get a better offer.....but none materialised....and the global financial crises fell upon us.
If he had accepted the offer, STL, with the war chest, could have bought alot of distressed assets at bargain basement price during the financial crises.........and today, STL NAV, after revaluation, could be much more than $1.14......perhaps $2.00
Goes to show, in investments, one should not allow the heart to rule. When this is allowed to happen, even an old pro like Ow makes terrible mistakes.
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High potential to double from this level or atleast 50% upside.
Will this counter move up???
Price up with buy-up volumes. Good sign.
The A$850 millions deal cancelled by CK OW in 2008 ( not 2007 )becos the buyer couldnot raise the financing, this was brought up by OW during the AGM in 2008. Ow explained with a slide , shown how the buyer played delay tactic by asking extensions again and again and forced SLC management to cancell the deal. Believe if the buyer was proactive to cancel, they have to pay a higher penalty.
Nobody known whether there were other buyers in talk with SLC to buy the hotels, except CK and his teams. But it was very obviuos during that time who would want to add assets to their portfolios when many were trying offload with financing difficulty.
Believe the hotels is still for sales, it is only the price and timing, Certainlly Ow would not be that lees smart to show that he is desperate to sell or it is a must sell asset.
shplayer ( Date: 13-Feb-2010 16:05) Posted:
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That is about right...but Chmn Ow held too much sentiment in the hotel business (he built it up from scratch...the shipping business was inherited - but he added value) and missed the opportunity in 2007 to realise shareholders value. If the deal went thru, it would have given STL balance sheet net cash of 77c per share) .......what a shame!!!!!
Bear in mind, when he rejected the offer, he said that they are talking to other parties to get a better offer.....but none materialised....and the global financial crises fell upon us.
If he had accepted the offer, STL, with the war chest, could have bought alot of distressed assets at bargain basement price during the financial crises.........and today, STL NAV, after revaluation, could be much more than $1.14......perhaps $2.00
Goes to show, in investments, one should not allow the heart to rule. When this is allowed to happen, even an old pro like Ow makes terrible mistakes.
tonylim2 ( Date: 12-Feb-2010 15:21) Posted:
Read this from another forum ;
I did a very direct and simle calculation on the NTA.
Hotels : A$750 millions ( It was nearly sold for A$850 millions )
100C P. P. S$ 23 millions
Spore North point S$10 Millions
Dynons Perth ofc : A$ 160 millions
Property developments : A$200 millions
Total in A$1,110 @ 1.24 =S$1,376 M +33M =1,376M
S$1376-390M(borrowing)=986M
S$986,000,000 /863,833,482 shares=S$1.14 ( NTA ) |
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Oh, i missed the events in 2007, what was the deal/sales? Was it selling the hotels or some other parts of the business?
That is about right...but Chmn Ow held too much sentiment in the hotel business (he built it up from scratch...the shipping business was inherited - but he added value) and missed the opportunity in 2007 to realise shareholders value. If the deal went thru, it would have given STL balance sheet net cash of 77c per share) .......what a shame!!!!!
Bear in mind, when he rejected the offer, he said that they are talking to other parties to get a better offer.....but none materialised....and the global financial crises fell upon us.
If he had accepted the offer, STL, with the war chest, could have bought alot of distressed assets at bargain basement price during the financial crises.........and today, STL NAV, after revaluation, could be much more than $1.14......perhaps $2.00
Goes to show, in investments, one should not allow the heart to rule. When this is allowed to happen, even an old pro like Ow makes terrible mistakes.
tonylim2 ( Date: 12-Feb-2010 15:21) Posted:
Read this from another forum ;
I did a very direct and simle calculation on the NTA.
Hotels : A$750 millions ( It was nearly sold for A$850 millions )
100C P. P. S$ 23 millions
Spore North point S$10 Millions
Dynons Perth ofc : A$ 160 millions
Property developments : A$200 millions
Total in A$1,110 @ 1.24 =S$1,376 M +33M =1,376M
S$1376-390M(borrowing)=986M
S$986,000,000 /863,833,482 shares=S$1.14 ( NTA ) |
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Read this from another forum ;
I did a very direct and simle calculation on the NTA.
Hotels : A$750 millions ( It was nearly sold for A$850 millions )
100C P. P. S$ 23 millions
Spore North point S$10 Millions
Dynons Perth ofc : A$ 160 millions
Property developments : A$200 millions
Total in A$1,110 @ 1.24 =S$1,376 M +33M =1,376M
S$1376-390M(borrowing)=986M
S$986,000,000 /863,833,482 shares=S$1.14 ( NTA )
February 2010
News Release
Profit after tax up 113% versus Q3 FY 08/09.
NTA increased by 20% to 50’ per share.Highlights :-
● Profit after tax increased by 113% due to absence of unrealised losses in current investments and lower finance costs.
● Hotels in Auckland and Adelaide continued to perform strongly.
● Refinancing of A$100 million facility was completed in December 2009.
● NTA increased to S$0.50 due to stronger A$ and NZ$ for our investments in hotels and properties.
● Significant fair value gains from Dynons Plaza Perth and Stamford Residences & The Reynell Terraces to recognise in FY2011 and FY2012.
3rd quarter 2009/10 Results Summary (S$million)
Mr CK Ow, Executive Chairman of Stamford Land Corporation Ltd said, I am pleased with the recovery of our hotel business and expect significant improvement in the next financial year. We will continue to be vigilant in controlling costs and improving operational efficiency.
About Stamford
Dun think will sell ba. But today buying seems strong
CDL HOSPITALITY BUSINESS TRUST
(a business trust constituted on 12 June 2006 under the laws of the Republic of Singapore)
THE PROPOSED ACQUISITION OF
NOVOTEL BRISBANE, MERCURE BRISBANE, IBIS BRISBANE,
MERCURE PERTH AND IBIS PERTH
1. INTRODUCTION
M&C REIT Management Limited, as manager of CDL Hospitality Real Estate Investment
Trust (
subsidiary of DBS Trustee Limited, the trustee of H-REIT (the
entered into separate conditional sale and purchase agreements (the
Agreements
freehold properties comprising in aggregate 1,139 rooms, namely, Novotel Brisbane,
Mercure Brisbane, Ibis Brisbane, Mercure Perth and Ibis Perth (collectively, the
or the
purchase consideration of A$175.0 million (or approximately S$220.9 million
are leased through a long-term lease arrangement expiring in April 2021 to AAPC
Properties Pty Limited (
S.A. (
Will SL be the next to offload its hotels ?
H-REIT) (the H-REIT Manager), is pleased to announce that a wholly-ownedH-REIT Trustee), has todaySale and Purchase) with wholly-owned subsidiaries of Tourism Asset Holdings Limited (theVendor), a private Australian hospitality company, for the acquisition of a portfolio of fivePortfolioProperties or the Hotels) which are located in Brisbane and Perth, at the1). The HotelsAAPC Properties), a wholly-owned indirect subsidiary of AccorAccor), which is a minority investor in the Vendor.
The undertone is very strong. Sign of persistent accumulation.
70 cents coming soon
Hit 0.47 today.
i think should be broadbase rise
Think is due more to the strenghtening of AUD.
chinton86 ( Date: 11-Jan-2010 21:35) Posted:
| Appoint CK ow's son as assistant COO. I don't think he is that influential to cause the share price up 2 cents today sia
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