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cheong.........aaaaaaa ..........all the way.
Revaluation done by Colliers International (22 May) for HH is only slightly higher than Ibis Balestier (241 rooms) that was sold to Keppel Land in Mar 2013 for $150m = i.e. $622k per room. Therefore there could be potential future revaluation gain due to its historical heritage.
405-rm Days Hotel = $263m = $649k per room.
384-rm Ramada Hotel = $269m = $700k per room.
Retail units = $103m
Office units = $67m
Total = $702m
Revaluation of Days & Ramanda Hotels @ 22 May 2013 = $702m x 50% JV share = $351m for HH
Amount stated in Bal Sheet (Q1) under Investment in JV = $60m
Therefore net gain on revaluation of these 2 Hotels = $291m divide by 471m shares approx = 61c gain per share.
NTA at 1Q = 67c + 61c (as computed above) = $1.28c
Hopefully, tomorrow can see HH share px cheong! This gain has not taken into account revaluation of other assets such as Kallang Pudding Industrial site etc. etc.
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_5487CAB7BB0FE2C748257B73002994A5/$file/Announcement_on_Valuation.pdf?openelement
aiyo BBs angry alredi, push this counter
up a little bit.
opening of Days Hotel and Ramada Hotel dun help
much to the shares px of Hiap Hoe and Superbowl
trading volumn still very low.
I think those who are vested already know the potential gain upon re-valuation of the Hotels.
The good thing is that we are sure that the book value is really low. If you are into longer term , then this cannot be wrong . current share price is quite safe
- when revalue you will see share price gain.
- other is the family " dispute" , the SSH may buy out the stake at a price higher than SGX price and possible trigger a valuation report on the 2 companies Hiap Hoe and SuperBowl.
Besides NTUC Finest which is opened for business, there are other retails outlets like Hock Hua, Toast Box, BreadTalk etc in the mall. Some of these retail outlets will be opened in June. This augurs well for Hiap Hoe and Superbowl as it provides recurring income.
the 49 room Berjaya Hotel in Duxton Road has been sold for
$50 million , pricing the asset at slightly over $1.02 million
per room.
Ramada Hotel opening tomorrow
Hiap Hoe value for money stock.
1st. Quarter result after 5.00 today and Ramada
Hotel opening on 18.05.13
Ramada Hotel will be opening very soon. There will also be 35 retails with eateries (including Foodcourt), shops etc in the mall. NTUC Finest has been pened, others like Hock Hua, Toast Box etc.that are in the pipeline.
This is an undervalued stock. With the opening of the hotel and mall, that will augur well for the stock. Do not forget the sister company Superbowl as well.
Yes, NTUC Finest is already open. Ther will be more retail shops at Zhong Shan Park and that will add more buzz to the area. Ramada Hotel, the second hotel will open in mid-May. More exciting news for Hiap Hoe and its sister company Superbowl.
NTUC fair price finest open for business today at level 2
Ramada Hotel.
today at 0.665?? what's going on? market correction again?
Ramada Hotel will open next month.
Ibis hotel at Balestier was sold for $150 million.
If Hiap Hoe also wanted to sell, can easily
ask for $500 million.
highly oversold counter, clawing up.
wah, result not bad also down.
loss about 10% already.
Is the reporting of results later in the day?
Good to see some movement today. Hope to see more action in this counter.
4Q final result on 18/02/13, px moving up very fast.
I think result must be good.