GP Hotels   

Global Premium Hotels - GPH - (SGX Code: P9J)

So safe to buy at current price?

smallsgshare      ( Date: 31-Jan-2013 22:18) Posted: " NAV per share of $0.39 as at 31 December 2012"   So there is much room for the price to go up!

 

" NAV per share of $0.39 as at 31 December 2012"

  So there is much room for the price to go up! 

 

Dividend Value	Payment Type	Dividend Type	Financial Year End	Dividend Number	Tax Exemption Clause
SGD 0.0101 Per 1 Ordinary share	Tax Exempted (1-tier)	Final	31/12/2012	NA	Tax-exempted (one-tier tax) dividend

Record Date *	17-04-2013
Record Time *	17:00
Date Paid/Payable (if applicable)	26-04-2013

 

31 January 2013


FOR IMMEDIATE RELEASE


Global Premium Hotels’ FY 2012 revenue grew 13.2% yoy to $60.2 million


• Group achieved record Revenue per Available Room of $95.10 for FY 2012,up 9.6% yoy from $86.80 for FY 2011


• EBITA of $36.1 million*, an increase of 6% YOY


• NAV per share of $0.39 as at 31 December 2012


• Board proposed final dividend of 1.01 cents per share bringing the total
dividend to 1.41 cents per share, which is 80% of the PAT for FY 2012


• Parc Soverign Hotel at Tyrwhitt Road is targeted to open by 1H 2014, bringing
an addition of 270 rooms to our Group’s portfolio


Singapore, 31 January 2013 – Global Premium Hotels Limited (“GPHL” or the “Group”), the owner
and operator of the second largest economy-tier hotel chain in Singapore, reported net profit
attributable to equity holders of $18.5 million for the 12 months ended 31 December 2012 (“FY 2012”).
$ ’000 4Q 2012 4Q 2011 Change FY 2012 FY 2011 Change


Revenue 15,173 14,210 6.8% 60,151 53,139 13.2%
Gross Profit 13,061 12,436 5.0% 52,174 46,794 11.5%
Gross Profit
margin (%)
86.1% 87.5% (1.4)p.p 86.7% 88.1% (1.4)p.p
EBITDA 8,735 8,755 (0.2)% 36,105* 34,065 6.0%
EBITDA margin
(%)
57.6% 61.6% (4.0)p.p 60.0%* 64.1% (4.1)p.p
Net Profit 4,334 5,306 (18.3)% 18,453 22,624 (18.4)%
Revenue per
Available Room
(“RevPAR”) ($)
97.5 87.5 11.4% 95.1 86.8 9.6%
Average
Occupancy Rate
(“AOR”) (%)
91.4% 82.4% 9.0p.p 90.8% 81.8% 9.0 p.p
* excludes one-off expenses of $2.11 million for FY 2012
p.p denotes percentage points
(Incorporated in the Republic of Singapore on 19 September 2011)
(Company Registration Number 201128650E)


Revenue grew 13.2% year-on-year (‘yoy”) to reach $60.2 million for FY 2012. The increase was
mainly attributable to the full year operations of the three hotels launched in 2011 – Parc Sovereign,
Fragrance Hotel-Elegance and Fragrance Hotel-Riverside, which boosted the number of rooms by
302 to 1,738 rooms. This increase negated the loss in revenue resulting from the temporary 3.5
month closure of Fragrance Hotel-Ruby for Asset Enhancement Initiatives (“AEI”) undertaken in 2H
2012.


RevPAR for GPHL touched new highs, reaching $95.10 for FY 2012, up 9.6% yoy. Improvements in
AOR was the main driver for the growth in RevPAR, attesting to GPHL’s success in building a wellrecognised
brand name within the local and regional hospitality industry, and efforts to increase
efficiency and turnaround of the hotel rooms.


As a result of continued room expansion, GPHL saw higher administrative expenses related to labour
and property taxes. In addition, continued listing expenses and the rental of its head office also
contributed to the rise. Consequently, GPHL’s earnings before interest, tax and depreciation 1
(“EBITDA”), improved 6.0% yoy to $36.1 million for FY 2012.


Finance cost increased 141.1% yoy to $7.0 million for FY 2012 due to the restructuring exercise
undertaken for the Initial Public Offering on 26 April 2012.


Property, plant and equipment increased by $167.8 million to $917.4 million as at 31 December 2012
from $749.6 million as at 31 December 2011 mainly due to the revaluation surplus of $107.8 million
and the acquisition a freehold tenure property located at 165 and 167 Tyrwhitt Road.

To thank shareholders for their support, the board proposed a final dividend of 1.01 cents per share,
bringing the total dividend to 1.41 cents per share for FY 2012. This is in line with our Group’s
commitment during the IPO exercise to pay at least 80% of PAT for FY 2012.

- END -

 

wat is the meaning of right issue?

 

Your wishes will come into true!

edwinjup      ( Date: 30-Jan-2013 22:04) Posted: Yes..hope for 1.5ctents dividen cum free wrt....with 1.5cents right share... starlene      ( Date: 30-Jan-2013 21:26) Posted: Results out tm

 

Yes..hope for 1.5ctents dividen cum free wrt....with 1.5cents right share...

starlene      ( Date: 30-Jan-2013 21:26) Posted: Results out tmr starlene      ( Date: 30-Jan-2013 09:15) Posted: Increasing vol traded ever day..accumulation building for some news??

 

Results out tmr

starlene      ( Date: 30-Jan-2013 09:15) Posted: Increasing vol traded ever day..accumulation building for some news??

 

Increasing vol traded ever day..accumulation building for some news??

 

Global Premium Hotel-Bonus Issue??

edwinjup      ( Date: 27-Jan-2013 22:08) Posted: Uobkh wrote about xhm on 22Jan when xhm share price 22cents..after the report..share price hitted 27.5cents on 25Jan ..will this happen to .gp hotel..hope its share.price will hit 32cents on 31 Jan..just hope sanuks      ( Date: 27-Jan-2013 20:17) Posted: Friday, 25 January 2013 Global Premium Hotels UOBKayhian on 25 Jan 2013 Valuation ·            We initiate coverage on Global Premium Hotels (GPH) with a BUY recommendation and a target price of S$0.34, pegged to  our dividend discounted cashflow model (DDM). Currently, the stock is trading at 14.2x 2012F consensus earnings with a dividend yield of 5.5%. Investment Highlights ·            Buoyant tourism to drive hotels demandSingapore  experienced a strong growth in tourist arrivals and tourism receipts between 2004 and 2011, registering a CAGR of 6.8% and 12.4% respectively. This was driven by new attractions such as the Integrated Resorts (IR), F1 Grand Prix and major MICE events. We have assumed tourist arrivals CAGR at 6% in 2013-15. For the longer term, the Singapore Tourism Board (STB) has set a tourist visitor arrival goal of 17m and tourism receipts of S$30b by 2015. This is likely to drive demand for hotel rooms. ·            LCC carrier to bring in a new segment of tourists  Low-cost carriers (LCC) have gained much popularity in  Singapore  and we expect these airlines to bring in a new group of budget travellers, in particular from neighbouring countries such asMalaysia  and  Indonesia. We think GPH’s portfolio of economic hotels will also complement the sector and cater to budget travelers in the region. ·            Resilient portfolio with strong track record.We view that the economy-tier hotels are more resilient in any downturn. For example, during the global financial crisis, we saw average room rate and occupancy levels decline 22.3% and 10% respectively to S$191 per night and 77%, as travellers became more cost-conscious in terms of accommodation. GPH’s group of hotels’ average room rates only declined 18.6% to S$87.50, outperforming the general market in 2009. Financial Highlights ·            GPH’s net profit after tax grew at a CAGR of 11.9% over 2008-11 to S$22.6m in 2011 as the group added Fragrance Hotel-Bugis, Royal in 2010, and Parc Sovereign and Fragrance Hotel- Riverside in 2011. We expect GPH to report a net profit of S$19.9m in 2013, backed largely by improvement in average room rates and occupancy rates, but eroded by higher interest expenses. Risks ·            Largely dependent on the  Singapore hospitality industry  As GPH runs a chain of hotels, financial performance will be dependent on demand of rooms and the average occupancy rate. Some of the risks pertaining to the hospitality sector mainly include changes in the domestic, regional and global economies, environmental conditions and viral epidemics threat of terrorism and natural disasters etc. ·            High debt financing for its hotels  The current net debt to equity remains high at 1.42X with interest cover at 4.7X. As GPH is able to obtain bank financing secured by its properties, interest rates remain low ranging from 2-3% p.a.. However, any increase in the interest rate and interest payment is likely to erode their profits. We estimate that a 0.5 ppt rise in interest rate will reduce profit by 10%. However, we do expect any rate increase till 2015.

 

GLobal Premium Hotel-Bonus Issue??

---

 

Maxi Cash > 48cts..I join U bro...the momentum is there I bought 100lots 27cts of GP Hotel this morning..for the fun since I hve profits from Fragrance,Aspial,TA & Roxy-Pacific...Fragrance too many scrips liao after 1 for 1 bonus so many times over the last 3-4 years.

 

The vol generated these few days  suggested GP Hotels may give 1 for 5 bonus to rewarded shareholders for the peanuts dividends of $2 per 1000 shares..see my JES will break 20cts today

edwinjup      ( Date: 28-Jan-2013 20:54) Posted: Starlene..wat is your target price for your 1000plus lot maxi cash? starlene      ( Date: 28-Jan-2013 20:50) Posted: athulican wrote: I don't care about Economy, more important is that business must have NO COMPETITION! What I mean is whether economy doing well or not Maxi cash still makes $$$-Maxi cash is a better bet than Fragrance and G.P hotel .GP hotel ipo 26cts still 26cts Fragrance too many scrips now with 1 for 1 bonus so many times,Maxi cash just ipo at about 30cts and stay > 40cts when listed,just gave 1 for 5 bonus once only,more to come,typical of Mr Koh wee Meng/Seng brothers

 

Hope 30 cents by today

 

Moving again.. Gogogo!

 

Starlene..wat is your target price for your 1000plus lot maxi cash?

starlene      ( Date: 28-Jan-2013 20:50) Posted: athulican wrote: I don't care about Economy, more important is that business must have NO COMPETITION! What I mean is whether economy doing well or not Maxi cash still makes $$$-Maxi cash is a better bet than Fragrance and G.P hotel .GP hotel ipo 26cts still 26cts Fragrance too many scrips now with 1 for 1 bonus so many times,Maxi cash just ipo at about 30cts and stay > 40cts when listed,just gave 1 for 5 bonus once only,more to come,typical of Mr Koh wee Meng/Seng brothers

 

athulican wrote:

I don't care about Economy, more important is that business must have NO COMPETITION!

What I mean is whether economy doing well or not Maxi cash still makes $$$-Maxi cash is a better bet than Fragrance and G.P hotel .GP hotel ipo 26cts still 26cts Fragrance too many scrips now with 1 for 1 bonus so many times,Maxi cash just ipo at about 30cts and stay > 40cts when listed,just gave 1 for 5 bonus once only,more to come,typical of Mr Koh wee Meng/Seng brothers

 

I vested in this counter at $0.26 solely because of the hilarity of owning the company that manages Fragrance Hotels...For once Geylang hookers give back :p

 

Already making me money! 

 

Added.some.more today...expect more upside after they announce good dividen this Thursday night...

 

Move liao.. Good volume also.. Hope tml continue!

edwinjup      ( Date: 27-Jan-2013 22:08) Posted: Uobkh wrote about xhm on 22Jan when xhm share price 22cents..after the report..share price hitted 27.5cents on 25Jan ..will this happen to .gp hotel..hope its share.price will hit 32cents on 31 Jan..just hope sanuks      ( Date: 27-Jan-2013 20:17) Posted: Friday, 25 January 2013 Global Premium Hotels UOBKayhian on 25 Jan 2013 Valuation ·            We initiate coverage on Global Premium Hotels (GPH) with a BUY recommendation and a target price of S$0.34, pegged to  our dividend discounted cashflow model (DDM). Currently, the stock is trading at 14.2x 2012F consensus earnings with a dividend yield of 5.5%. Investment Highlights ·            Buoyant tourism to drive hotels demandSingapore  experienced a strong growth in tourist arrivals and tourism receipts between 2004 and 2011, registering a CAGR of 6.8% and 12.4% respectively. This was driven by new attractions such as the Integrated Resorts (IR), F1 Grand Prix and major MICE events. We have assumed tourist arrivals CAGR at 6% in 2013-15. For the longer term, the Singapore Tourism Board (STB) has set a tourist visitor arrival goal of 17m and tourism receipts of S$30b by 2015. This is likely to drive demand for hotel rooms. ·            LCC carrier to bring in a new segment of tourists  Low-cost carriers (LCC) have gained much popularity in  Singapore  and we expect these airlines to bring in a new group of budget travellers, in particular from neighbouring countries such asMalaysia  and  Indonesia. We think GPH’s portfolio of economic hotels will also complement the sector and cater to budget travelers in the region. ·            Resilient portfolio with strong track record.We view that the economy-tier hotels are more resilient in any downturn. For example, during the global financial crisis, we saw average room rate and occupancy levels decline 22.3% and 10% respectively to S$191 per night and 77%, as travellers became more cost-conscious in terms of accommodation. GPH’s group of hotels’ average room rates only declined 18.6% to S$87.50, outperforming the general market in 2009. Financial Highlights ·            GPH’s net profit after tax grew at a CAGR of 11.9% over 2008-11 to S$22.6m in 2011 as the group added Fragrance Hotel-Bugis, Royal in 2010, and Parc Sovereign and Fragrance Hotel- Riverside in 2011. We expect GPH to report a net profit of S$19.9m in 2013, backed largely by improvement in average room rates and occupancy rates, but eroded by higher interest expenses. Risks ·            Largely dependent on the  Singapore hospitality industry  As GPH runs a chain of hotels, financial performance will be dependent on demand of rooms and the average occupancy rate. Some of the risks pertaining to the hospitality sector mainly include changes in the domestic, regional and global economies, environmental conditions and viral epidemics threat of terrorism and natural disasters etc. ·            High debt financing for its hotels  The current net debt to equity remains high at 1.42X with interest cover at 4.7X. As GPH is able to obtain bank financing secured by its properties, interest rates remain low ranging from 2-3% p.a.. However, any increase in the interest rate and interest payment is likely to erode their profits. We estimate that a 0.5 ppt rise in interest rate will reduce profit by 10%. However, we do expect any rate increase till 2015.

 

Uobkh wrote about xhm on 22Jan when xhm share price 22cents..after the report..share price hitted 27.5cents on 25Jan ..will this happen to .gp hotel..hope its share.price will hit 32cents on 31 Jan..just hope

sanuks      ( Date: 27-Jan-2013 20:17) Posted: Friday, 25 January 2013 Global Premium Hotels UOBKayhian on 25 Jan 2013 Valuation ·            We initiate coverage on Global Premium Hotels (GPH) with a BUY recommendation and a target price of S$0.34, pegged to  our dividend discounted cashflow model (DDM). Currently, the stock is trading at 14.2x 2012F consensus earnings with a dividend yield of 5.5%. Investment Highlights ·            Buoyant tourism to drive hotels demandSingapore  experienced a strong growth in tourist arrivals and tourism receipts between 2004 and 2011, registering a CAGR of 6.8% and 12.4% respectively. This was driven by new attractions such as the Integrated Resorts (IR), F1 Grand Prix and major MICE events. We have assumed tourist arrivals CAGR at 6% in 2013-15. For the longer term, the Singapore Tourism Board (STB) has set a tourist visitor arrival goal of 17m and tourism receipts of S$30b by 2015. This is likely to drive demand for hotel rooms. ·            LCC carrier to bring in a new segment of tourists  Low-cost carriers (LCC) have gained much popularity in  Singapore  and we expect these airlines to bring in a new group of budget travellers, in particular from neighbouring countries such asMalaysia  and  Indonesia. We think GPH’s portfolio of economic hotels will also complement the sector and cater to budget travelers in the region. ·            Resilient portfolio with strong track record.We view that the economy-tier hotels are more resilient in any downturn. For example, during the global financial crisis, we saw average room rate and occupancy levels decline 22.3% and 10% respectively to S$191 per night and 77%, as travellers became more cost-conscious in terms of accommodation. GPH’s group of hotels’ average room rates only declined 18.6% to S$87.50, outperforming the general market in 2009. Financial Highlights ·            GPH’s net profit after tax grew at a CAGR of 11.9% over 2008-11 to S$22.6m in 2011 as the group added Fragrance Hotel-Bugis, Royal in 2010, and Parc Sovereign and Fragrance Hotel- Riverside in 2011. We expect GPH to report a net profit of S$19.9m in 2013, backed largely by improvement in average room rates and occupancy rates, but eroded by higher interest expenses. Risks ·            Largely dependent on the  Singapore hospitality industry  As GPH runs a chain of hotels, financial performance will be dependent on demand of rooms and the average occupancy rate. Some of the risks pertaining to the hospitality sector mainly include changes in the domestic, regional and global economies, environmental conditions and viral epidemics threat of terrorism and natural disasters etc. ·            High debt financing for its hotels  The current net debt to equity remains high at 1.42X with interest cover at 4.7X. As GPH is able to obtain bank financing secured by its properties, interest rates remain low ranging from 2-3% p.a.. However, any increase in the interest rate and interest payment is likely to erode their profits. We estimate that a 0.5 ppt rise in interest rate will reduce profit by 10%. However, we do expect any rate increase till 2015.