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Hi Tony8888, I should have been more patient. I went in to buy at $1.14 after reading your earlier postings. The price did not move much and in fact fell to below $1.10. Since it has gone up so much today and the STI Index is in red, I went ahead to sell at $1.28... After that it just shot up to $1.34 ! Bang man....
All S.44 tax credit must be utilised (i.e. declared as dividend) by calendar year 2007, beyond which it would be lost permanently due to the new tax laws. But most co. would want to get this done & out of the way asap (lest there is any hiccups and they get sacked), so in all probability you would expect good news soon. FYI, While i was replying, the vol. just crossed 2m mark with another 100,000 queuing to buy at $1.30. But I am still holding, maybe till it hit $1.86!
Any idea when the DIV going to payout ?
Wow ! S.44 tax credit. LKHSp up $0.10 @ $1.28 now. Same as Allgreen when it declared $0.30 dividend that drove Allgreen up by $0.12 today. I believe the some funds maybe buying LKHSp for the dividend income (i.e. S.44 tax credit), that's why this high volume over last few weeks. I said earlier there were abt $70m special dividend to be declared on some 130m LKHSp shares, ie. huge divident of abt $0.55 per share (see below my earlier posting on 6/10). FYI, I got these numbers at the last AGM from the horses' mouth (not shown on the Annual Report).
Hit new high @ mid-day - cross $1.20 barrier.
Hi Nostramudus, do you know what is analyst target price and its NAV please ? Thank you.
Would still think there is more up-side.
Yesterday LKHS closed @ new high $1.18 on high vol. too & with most trade done near day's high. Going forward the upswing is confirmed - taking cue from last yr's Historical chart when prices shot up from $0.66 @end-Oct 05 to $0.94 @ mid Dec05. If there is a year-end rally (2006) LKHS should hit its all-time high of $1.86!. Analysts have up target prices in the last few days for property counters like KepLand (by Citigroup @$6.77) and UOL (by DBSV @$4.79) etc.etc..
Price was merely maintained @$1.11 last week. Any comments for this coming week, pls.
This 1 is controlled counter. Got some clues from the last 3 days' volumn that was 10 times of norm, it may well be some funds are in or else GCB's proxy are buying (that's why no declaration to SGX). It WILL hit $1.87 (all time high) very soon - surely 'cos of substantial dev profits stream from Twin Regency, Regency Suites, SouthBank, North Exch Condo (Buono Vista), Duchess Court YET TO BE BOOKED & coupled with net cash div of at least $0.55 per share (YET TO BE BOOKED), target price is within reach, easily ! HOLD your horses - till at least $1.87!
Last week was a good week for LKH. Looking at TA, the following week should continue to enjoy further up-side.
Any comment
Re: LKHS unrealised development profit of > $0.60 per share.
Someone posted this in Shareinvestor.com forum, I quote: "Recent DBSV report on UOL gave some estimates on development profits on UOL's projects. LKH has a stake in quite of few. A quick comparison against this report + some simple estimates on those undertaken without UOL's participation should give dev profits of > 60c/share, i.e., RNAV >> $2. Too good to be true?"
If I may add here - the meat will come from Duchess Court redevelopment (soft launch in Nov/Dec 06) where LKHS share is over $100m, with the balance of $300m+ from UOL.
Re: Available S.44 Tax Credit.
One good news is this: I heard from the horses' mouth that available S.44 Tax Credit Balance to-date > $100m but the max Cash dividend that could be declared is limited to the balance of Retained Earnings of approx. $70m. Thus if $70m is divided by about 130m of ord. shares, each share could potentially reap huge cash dividend of $0.55 per share soon (by 2007 deadline). Such dividends would most likely be declared simultaneoulsy with renounceable rights to achieve neutral cashflow - same as many other listed companies (e.g. OCBC, Amtek, Wheelock etc.).
Property prices in Saigon would have gone up recently - so could expect substantial capital gain here -100%-owned, 200+ rooms, on 50 years lease from 1992 (vs norm of 30 yrs in Vietnam). Also its Shanghai office (albeit small) is for sale - also looking at some realised capital gain soon....RNAV may have passed $2.....nobody knows.
LKHsp has been giving out good DIV for year 2006 (0.025 + 0.05). Looking at TA, it is enjoying a up swing.
A rough RNAV of LKHsp = $1.86! just basing on the revaluation surplus of Duxton Perth Hotel. The Annual Report (FY05/06) stated a valuation of $74m (not recognised yet) vs. NAV of $27m, i.e. revaluation surplus of $47m. That means by adding this revaluation surplus of $0.39 per share to present NA of $1.47 @ 31.1.06 = RNAV $1.86. This workings did not take into a/c any potential gains in Saigon Duxton or other leasehold properties. Unfortunately LKHS is hovering at $0.92 - very miserable, laggard vs its peers. Any advice - should we hold n how long more.