Stamford Land    Last:0.485    +0.005

Time for Re Rating?

Based on YE 2007 Annual Report....

Note 14 page 77......

100C Pasir Panjang was impair in 2002. Hence from 2002 to now (2007/2008) the value of the property have sky rocketed....

wow imagine the value hidden inside.......

Quote from 2007 AR Note 14 page 77: "An independent valuation was performed in 2002 on a freehold property at 100C Pasir Panjang Road by DTZ Debenham
Tie Leung (SEA) Pte Ltd, on an open market basis with existing use, which valued the freehold property at $18,500,000.
Accordingly, an impairment loss of $9,400,000 was recognised in 2002".

 

HI.....

Any body notice the 1st Half result announcement para 10.

"10. A commentary at the date of the announcement of the competitive conditions of the industry in which the group
operates and any known factors or events that may affect the group in the next reporting period and the next 12
months

For the property development & investment segment, we hope to sell the remaining three units from the Stamford Marque
project in the 2nd half of the financial year.

In view of the buoyant property market, the group is exploring the feasibility of
unlocking value for our Pasir Panjang property in Singapore.

The trading segment is expected to further improve on its performance on the back of the strong Singapore economy.

The hotel industry's outlook in Australia and New Zealand remains positive and revenue per available room is likely to improve.
The group expects better results from its hotel owning & management segment during the 2nd half of the financial year which
is also the peak season for hotels in Australia and New Zealand."

looking forward to the unlocking transaction.......

 

Hi Shplayer,

Ok.. thks...

 

CC,

I really don't know exactly the reason....as EastonBay said, could be for estate planning (when he leaves this mortal world), could be for tax purpose, could be pledge of shares for some personnal financing needs....etc.

 

Hi shplayer,

yap, I did ask before.. but i find it strange if there are no differences..

'Deemed' interests are shares that belong to Ow but held under some other name. It can also be shares that are not owned by him but he has access to influence the voting or sale......eg shares held by spouse.

'Direct' interest are shares held under Ow's personnal name.


Hmm.. then y recently he transfer his deem to direct (abt 190K lots) if there are no differences.. sorry for my ignorance.. hopefully u can enlighten me more.. wats his motive? keke... thks thks...

 

CC,

Thought we already discussed this issue in this thread 2 mths ago?

You may like to refer to earliers posts.

 

Guys,

Any idea what's the difference between deem interest and direct interest held by a shareholder?

Seems like Mr Ow has transfered his deem to direct... any difference? anyone knows?

Kindly advise....

Thks.

 

Any news on this counter... keep climbing...hopefully back to 80 cents soon.

cheers,
ttman 

 

Dow is up by more than 140 pts on friday... Hopefully Stamford Ld can recover a fair bit on Monday. Chiong... ar...

 

ttman

 

Eastonbay

My guess is for taxation or estate planning purposes.

 

Hi EastonBay,

Sorry, did not see your question of 17 Aug.

Well, the announcement did not state the reason for transfer to Citibank nominees. Your hypothesis could be right.......its anybody's guess why the super rich do what they do.

 

Ya... i am interested to know also... cos it seems like Mr Ow has alot of shares in the company... pls advise.. thks

 

shplayer: further to your answer,  could you enlighten me on a question that  I've long wanted to ask. It's a 'laughable' question... what do they mean when they mention "Citibank nominees " under major shareholders.. ? In this case, it means Citibank is holding the share on Mr Ow's behalf...  Does it also mean all of the SL's shares citibank holds on behalf of other individuals like their Wealth Managment Clients, corporates and of course shares purchased by Citibank asset management group?

 

thanks..

 

Cool... thks... shplayer... learn something new today.. Thks for sharing...

Cheers,

Anything.

 

CC,

If you add the 'Direct' and 'Deemed' holding of Ow for FY 06 & 07, they are the same......337,268,000.

Ow transferred the bulk of his shares (139,471,000) to Citibank nominees on 28 Jun 06.......so, he did not liquidate any of his holdings.

'Direct' interest are shares held under Ow's personnal name.

'Deemed' interests are shares that belong to Ow but held under some other name. It can also be shares that are not owned by him but he has access to influence the voting or sale......eg shares held by spouse.

 

Ops... sorry...  Thks for pointing out shplayer.

Can i know whats the difference between direct interest and deem interest?

Seems like Mr Ow direct interest decreased but his deem interest increase alot... or am i wrong again? Haha...pls enlighten. Thks.

 

CC,

the 10,000 lots is gift from daddy lah.....see announcement on 31 Jul 06.

But, if you compare 2006 and 2007 20 top shareholders, there are some BBs with increased holdings namely:

                                                            2006                     2007

Raffles Nominee                              3,754,000               17,533,500

Selected Hldgs                                           0                  12,100,000

Kambau PL                                      4,190,000               9,500,000

OCBC Sec                                       6,533,000             8,489,000

Pang Heng Kwee                                     0                    7,300,000

UOB KH                                          5,424,500             5,876,000

Siong Lim PL                                            0                    4,000,000

 

 

 

Watch out for this stock...

CEO has been accumulating since last yr... Look at yr 2006 report and 2007 Top 20 shareholders... His son has 10,000 lots in yr 2007 compared to 0 in yr 2006...  Price now is very near to NAV... and the land in OZ and NZ has not revalued yet... Price doesnt reflect the true value of the stock...

Just my chinchye opinion... its a very undervalued stock now..... Good time to accumulate slowly....  

Cheers,

Anything.

 

What a disappointment... Latest edition of TheEdge, SIAS Research calling for "Hold" with Target price of 71 cents. SeRiOuS or not? Can anyone comment whether that's a realistic target price... Thanks.

ttman

 

Thought we were rewarded 6.5 cents dividend when the mkt open today... Hopefully tomm will be a better day.



thatman