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Bro Octavia, arhhhhh......congrats!!! well done.
Octavia ( Date: 23-Apr-2013 16:15) Posted:
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last matching trade 624,000 @ 0.955.Strong closing.:)
still waiting for the revaluation to say how much it is worth. years back, Mr Quek offered $1.25 also cannot take the company private....
Huat Arhhhhh!!!
clearing 0930 !!!!
Bot some for punting @905..:)
Hope it can burst through 910
Hope it can burst through 910
How long will it be halted?
What is the possible impact to Guocolesiure and its share price?
Guoco Group Limited suspended with effect from 9:00 a.m. on 23 April 2013 pending the release of an announcement on inside information in relation to the offer to be made by Standard Chartered Bank (Hong Kong) Limited on behalf of GuoLine Overseas Limited.
The same old story just revived. Recall that Street has been touting the independent valuation report by SCB, on GuocoGroup assets to be released somewhere in the end of April, which would cast further light on the actual valuations of its subsidiary GuocoLeisure. Recall that GLL’s properties are held at deep discount to book value. GLL carries its hotels and property, plant and equipment at historical cost less accumulated depreciation. According to mgt, the last revaluation date was in 2005. With an independent valuation report of GLL’s assets likely to be issued in the near term due to privatisation of Guoco Group, the ultimate holding company of GLL, market watchers believe it will shed light on the highly undervalued property portfolio.
Something brewing?
Top 10 volume liao..
student e-entered Guocoleisure at 85.5 post reaction
for more details , see my guocoleisure hart( click here)
SJ-Stomp ( Date: 25-Mar-2013 17:28) Posted:
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might close above 92c high today.
Octavia ( Date: 27-Mar-2013 10:19) Posted:
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GuocoLeisure: UOB Kay Hian has Buy Calls with $1.05 TP (Technical) and $1.19 TP (Fundamentals). Recall house initiated coverage on GLL with a BUY recommendation on the back of an optimistic outlook for UK’s tourism, which should support demand for the company’s 37 hotels there. Despite being one of the UK’s largest hotel operators, GLL continues to trade at a steep discount to book value. House believe an independent valuation report that will be released by end-April should increase its visibility and highlight its undervalued assets. Another potential catalyst could come in the form of its strategy repositioning exercise where expect management to move its focus to Asia.
Thank you 过 眼 云 烟 !
guoyanyunyan ( Date: 24-Mar-2013 20:37) Posted:
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Profit taking was well absorbed yesterday within tight range of 87 and 88.5.The undertone is still very bullish hopefully it can catapult into the 90 range.90c year high was touched on 27 Mar 13.
http://research.osk188.com/attachments/95/osk-report-sg-guocoleisure_coporate-update_20130326-IWNu90985803151517679b0e6c.pdf
GuocoLeisure - Due for a Re-rating |
GuocoLeisure (GLL), the listed leisure and hospitality arm of the Guoco Group, is an undervalued gem sitting on a portfolio of cash-generative, hard-to-replace assets. Its key investments are: 1) the Guoman/Thistle hotels, the largest hotel operator in London with over 8000 rooms under management 2) the Bass Straits Royalty Trust, entitling GLL to a perpetual stream of cashflow from oil and gas production in designated areas in the Bass Straits 3) 54,000 acres of land in Molokai island, Hawaii, 4) Clermont Leisure, a casino targeted at high rollers. The stock is under-covered and we are the only broker with a rating on the stock.
Hidden value in hotel real estate. GLL's crown jewel is its Guoman/Thistle hotel chain, the leading hotel operator in London. Guoman/Thistle owns some 5,200 rooms across 16 hotels in London, sitting on prime locations in the heart of London City. We estimate this portfolio is conservatively worth USD1.68 billion, against a historical book cost of USD1.2 billion. This implies a surplus of USD466m, or SGD0.43/share. An upcoming valuation exercise for GLL's hotels, currently underway, as a result of a privatization offer for its parent Guoco Group by major shareholder Quek Leng Chan, should shed more light on the market value of its hotels and the embedded surplus of the related real estate
value.
value.
Bass Straits oil royalty - the well that keeps giving. GLL owns a 55% stake in the Weeks Royalty, which entitled it to a 2.5% royalty granted by BHP/EssoMobil on the gross value of all hydrocarbons produced and recovered in designated areas within the Bass Straits of Australia. Bass Straits is one of the most prolific oil and gas producing region in the world, having yielded more than 4 billion bbl of crude oil and more than 7 Tcf of natural gas since 1969. Drilling activities continued to be high, centered on the AUD4.4 billion Kipper Tuna Turrum project with an estimated 1.6 Tcf of gas and 140m bbl of oil and gas liquid. GLL's royalty to this lucrative asset has been providing it with annual cash flow of USD40-50m, with potential upside on additional discoveries.
Trading at massive 53% discount to our SOTP valuation. We value GLL using a sum-of-parts methodology to best capture the disparate nature of its various investments. We value its Guoman/Thistle hotel portfolio at EUR250,000 per key for its London hotels, a 21% discount to the average transaction of EUR316,000 per key in 2012. We use net present value to value the cash flow stream from Bass Straits Royalty Trust, without factoring in upside from future reserve growth. Our valuation yields a SOTP of SGD1.78. We apply a 30% holding company discount to derive a TP of SGD1.25. In our view, GLL offers a compelling asset play with imminent catalysts from restructuring within the group and greater transparency on its hotel assets. Reiterate BUY
OSK
hope so!
this one is on the run...90c and above easily.
Octavia ( Date: 27-Mar-2013 09:02) Posted:
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Gapped up above 85 resistance.