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chengwh1 Elite	06-Dec-2019 13:59        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Okay,...tq bro,... appreciated your help here,... limahping      ( Date: 06-Dec-2019 13:41) Posted: If (I say If) the buy up is attractive and recommended by the BOD, There will be a need for EGM to get share holder approval, sicne this is a major transaction.  EGM likely to be held like few weeks after the circular is sent out.    The only thing that may need your attention is if you want to vote in the EGM, but then, unless you hold a lot of share, else, unlikely your vote will swing the decision. So unlikely that you need to do any thing any time soon. Obviously, if the question is, with the new flow, the price swing, do you need to take action on buying / selling, that one, can do via Internet trading :) chengwh1      ( Date: 06-Dec-2019 12:22) Posted: Bro,.. I' m thinking of making life exciting too,... the thing is,.. I won' t be around during the Christmas and New Year holidays, right into the first ten days of next year. IF the takeover does come,... do unitholders need to do anything ??? I won' t be nearby to flyback,... I' ll be faraway in the Alps,... maybe no data coverage too. What if needed unitholder involvement in any way
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limahping Senior	06-Dec-2019 13:41        limahping About Contact  Quote this Post!
x 0   x 0  Alert Admin	If (I say If) the buy up is attractive and recommended by the BOD, There will be a need for EGM to get share holder approval, sicne this is a major transaction.  EGM likely to be held like few weeks after the circular is sent out.    The only thing that may need your attention is if you want to vote in the EGM, but then, unless you hold a lot of share, else, unlikely your vote will swing the decision. So unlikely that you need to do any thing any time soon. Obviously, if the question is, with the new flow, the price swing, do you need to take action on buying / selling, that one, can do via Internet trading :) chengwh1      ( Date: 06-Dec-2019 12:22) Posted: Bro,.. I' m thinking of making life exciting too,... the thing is,.. I won' t be around during the Christmas and New Year holidays, right into the first ten days of next year. IF the takeover does come,... do unitholders need to do anything ??? I won' t be nearby to flyback,... I' ll be faraway in the Alps,... maybe no data coverage too. What if needed unitholder involvement in any way ? limahping      ( Date: 02-Dec-2019 16:39) Posted: I have some Accordia Golf Trust shares. Decided to add a bit more today, even after the run up : a) Tomorrow is the XD.  Dividend of 2.61 c per share. (~ 3.6%) b) This share, is a good yield play.  7.2% yield at current price c) Take over offer, no details, but if it is good, then the price will move up again d) NTA is about 76 cents, so that set a boundary for take over price So I thought, lots of good compared to bad and I load up a bit more. Only thing I am wondering is, why the details of the offer take so long to be annouce ..... Therefore, I only dare to load a bit more.  Not a lot more.
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chengwh1 Elite	06-Dec-2019 12:22        chengwh1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Bro,.. I' m thinking of making life exciting too,... the thing is,.. I won' t be around during the Christmas and New Year holidays, right into the first ten days of next year. IF the takeover does come,... do unitholders need to do anything ??? I won' t be nearby to flyback,... I' ll be faraway in the Alps,... maybe no data coverage too. What if needed unitholder involvement in any way ? limahping      ( Date: 02-Dec-2019 16:39) Posted: I have some Accordia Golf Trust shares. Decided to add a bit more today, even after the run up : a) Tomorrow is the XD.  Dividend of 2.61 c per share. (~ 3.6%) b) This share, is a good yield play.  7.2% yield at current price c) Take over offer, no details, but if it is good, then the price will move up again d) NTA is about 76 cents, so that set a boundary for take over price So I thought, lots of good compared to bad and I load up a bit more. Only thing I am wondering is, why the details of the offer take so long to be annouce ..... Therefore, I only dare to load a bit more.  Not a lot more.
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laksaman57 Supreme	05-Dec-2019 15:59        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Offerer need, not only the few SSH to buy in, but need retail investors to buy in too. AGT mgr did well to give the headup, so forummer can help research similar  type of buyout valuation, like what AK71 has done. This will give retail investor a sense of what a decent  offer price should be.  Starship      ( Date: 04-Dec-2019 18:47) Posted: A comment by AK71 of ASSI under his own post (in the link). Can' t find full analyst report online. " ... we do note that Tokyo listed golf course operator, PGM Holdings, the largest golf course operator after Accordia Golf in Japan, was previously acquired by pachinko operator, Heiwa Corp, at a valuation 1.5x P/B in 2015 according to Bloomberg data." Source: Lim & Tan Securities (2 Dec 19) http://singaporeanstocksinvestor.blogspot.com/2019/11/accordia-golf-trust-offer-must-be-way.html
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limahping Senior	05-Dec-2019 11:59        limahping About Contact  Quote this Post!
x 0   x 0  Alert Admin	Accordia not moving these few days.  Not up, not down.  Looks like needs some new information flow to decide the direction. Boring.
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Starship Supreme	04-Dec-2019 18:47        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	A comment by AK71 of ASSI under his own post (in the link). Can' t find full analyst report online. " ... we do note that Tokyo listed golf course operator, PGM Holdings, the largest golf course operator after Accordia Golf in Japan, was previously acquired by pachinko operator, Heiwa Corp, at a valuation 1.5x P/B in 2015 according to Bloomberg data." Source: Lim & Tan Securities (2 Dec 19) http://singaporeanstocksinvestor.blogspot.com/2019/11/accordia-golf-trust-offer-must-be-way.html
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laksaman57 Supreme	03-Dec-2019 20:20        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	It's GODZILLA maniac time 🌊 Starship      ( Date: 30-Nov-2019 16:46) Posted: AK71 discovers the crazy-low book valuations of AGT' s golf courses. The real value of it' s golf courses are actually Godzilla-sized....... Accordia Golf Trust: Offer must be way above valuation Saturday, November 30, 2019 Mr. Market will always pay what he feels is the right price for an asset at any particular point in time. Not sure if valuations can be trusted?  Mr. Market has the answer.  If we recall, earlier this year in April, the Trust sold one of their golf courses at above valuation too. " The consideration of the Divestment is JPY 200,000,000 (approximately S$2,415,751). " The valuation of the Golf Course as at 31 December 2018 conducted by CBRE, the independent valuer commissioned by the Trustee-Manager as part of its annual valuation of its golf courses... is JPY 27,500,000 (approximately S$332,166)." The consideration was jaw droppingly above valuation. It could be the case that the book values of other golf courses in the Trust' s portfolio are rather conservative as well. However, to be realistic, when selling an entire portfolio, it is usually more difficult to command a big premium compared to selling the properties individually. This was certainly the case with Saizen REIT. Nonetheless, a compelling offer has to be one that is substantially above the NAV. Otherwise, there is no reason to accept the offer. http://singaporeanstocksinvestor.blogspot.com/2019/11/accordia-golf-trust-offer-must-be-way.html
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limahping Senior	03-Dec-2019 17:00        limahping About Contact  Quote this Post!
x 0   x 0  Alert Admin	Strangely, it take so long for the details of the offer to be annoused. ?? laksaman57      ( Date: 03-Dec-2019 15:44) Posted: Hmmmm ... just maybe MBK Partners after acquiring AGT' s sponsor, Accordia Golf Co., now want to buy all of AGT golf courses.
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laksaman57 Supreme	03-Dec-2019 15:44        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hmmmm ... just maybe MBK Partners after acquiring AGT' s sponsor, Accordia Golf Co., now want to buy all of AGT golf courses.
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laksaman57 Supreme	02-Dec-2019 20:14        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Any fund buying AGT at $1 is still getting a best-buy https://www.reuters.com/article/japan-stocks-reit/japans-reit-prices-hit-12-year-high-amid-global-scramble-for-yield-idUSL4N24D238   " J-REITs currently yield 3.8%, compared with minus 0.12% on the benchmark 10-year government bonds." spore1      ( Date: 02-Dec-2019 19:15) Posted: Looking forward for $1.00 offer deal! pkli899      ( Date: 02-Dec-2019 16:10) Posted: Their golf courses are all Freehold. Valuation very very conservative. Recently, (in April) they sold one at 7 times it' s valuation! Current NAV of 76+ cents is based on this very low valuation. Obviously, offeror sees the value of their assets, that' s why offer to buy all. The offer will definitely need to be at a premium. Otherwise, they would have rejected it. IMO, above $1 is not unrealistic.
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spore1 Supreme	02-Dec-2019 19:15        spore1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Looking forward for $1.00 offer deal! pkli899      ( Date: 02-Dec-2019 16:10) Posted: Their golf courses are all Freehold. Valuation very very conservative. Recently, (in April) they sold one at 7 times it' s valuation! Current NAV of 76+ cents is based on this very low valuation. Obviously, offeror sees the value of their assets, that' s why offer to buy all. The offer will definitely need to be at a premium. Otherwise, they would have rejected it. IMO, above $1 is not unrealistic.
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laksaman57 Supreme	02-Dec-2019 18:02        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Probably they will let the price to progressively run up to closer to the offer price and then announce the  offerer price as a percentage premium to the last traded price. limahping      ( Date: 02-Dec-2019 16:39) Posted: I have some Accordia Golf Trust shares. Decided to add a bit more today, even after the run up : a) Tomorrow is the XD.  Dividend of 2.61 c per share. (~ 3.6%) b) This share, is a good yield play.  7.2% yield at current price c) Take over offer, no details, but if it is good, then the price will move up again d) NTA is about 76 cents, so that set a boundary for take over price So I thought, lots of good compared to bad and I load up a bit more. Only thing I am wondering is, why the details of the offer take so long to be annouce ..... Therefore, I only dare to load a bit more.  Not a lot more.
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JerryMaple Veteran	02-Dec-2019 17:14        JerryMaple About Contact  Quote this Post!
x 0   x 0  Alert Admin	This golf trust is viable and worth to invest with potential buyer upcoming. As long the price is still within the so called nav 0.76,there is no need to feel sad even the deal don't go through. Unlike those counter like aptt and ezion, you are actually playing with fire when any deal don't go through. Instantly your stock become worthless. limahping      ( Date: 02-Dec-2019 16:58) Posted: If take over is done, then no chance for this " Growth" of rich old golfer scenario liao lor .... pkli899      ( Date: 02-Dec-2019 16:51) Posted: Haha, true.....plenty rich retirees
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limahping Senior	02-Dec-2019 16:58        limahping About Contact  Quote this Post!
x 0   x 0  Alert Admin	If take over is done, then no chance for this " Growth" of rich old golfer scenario liao lor .... pkli899      ( Date: 02-Dec-2019 16:51) Posted: Haha, true.....plenty rich retirees. JerryMaple      ( Date: 02-Dec-2019 16:44) Posted: Oh I mean aging population increasing.Rich old folk will mostly golf or casino to pass time. Gogogo.
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pkli899 Supreme	02-Dec-2019 16:51        pkli899 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Haha, true.....plenty rich retirees. JerryMaple      ( Date: 02-Dec-2019 16:44) Posted: Oh I mean aging population increasing.Rich old folk will mostly golf or casino to pass time. Gogogo. pkli899      ( Date: 02-Dec-2019 16:32) Posted: Well, population wise, Japan is dropping at alarming pace! Only, hope is for tourist to come play, especially the rich Chinese. With 3 casinos coming up, it will help to attract them
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JerryMaple Veteran	02-Dec-2019 16:44        JerryMaple About Contact  Quote this Post!
x 0   x 0  Alert Admin	Oh I mean aging population increasing.Rich old folk will mostly golf or casino to pass time. Gogogo. pkli899      ( Date: 02-Dec-2019 16:32) Posted: Well, population wise, Japan is dropping at alarming pace! Only, hope is for tourist to come play, especially the rich Chinese. With 3 casinos coming up, it will help to attract them. JerryMaple      ( Date: 02-Dec-2019 16:28) Posted: I find it a win or win situation for this trust be it deal or no deal. Population will only increase, human will only get richer and richer. Lifestyle will eventually blend into the rich does. Tourism, golf and casino. Japan as number 1 most incoming tourists will always be number 1.This trust will see results in 5years time.
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mrwise Supreme	02-Dec-2019 16:39        mrwise About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	At least $1 stock...freehold is a good one to buy n hold.... Cheers for all believers!
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limahping Senior	02-Dec-2019 16:39        limahping About Contact  Quote this Post!
x 0   x 0  Alert Admin	I have some Accordia Golf Trust shares. Decided to add a bit more today, even after the run up : a) Tomorrow is the XD.  Dividend of 2.61 c per share. (~ 3.6%) b) This share, is a good yield play.  7.2% yield at current price c) Take over offer, no details, but if it is good, then the price will move up again d) NTA is about 76 cents, so that set a boundary for take over price So I thought, lots of good compared to bad and I load up a bit more. Only thing I am wondering is, why the details of the offer take so long to be annouce ..... Therefore, I only dare to load a bit more.  Not a lot more.
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pkli899 Supreme	02-Dec-2019 16:32        pkli899 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Well, population wise, Japan is dropping at alarming pace! Only, hope is for tourist to come play, especially the rich Chinese. With 3 casinos coming up, it will help to attract them. JerryMaple      ( Date: 02-Dec-2019 16:28) Posted: I find it a win or win situation for this trust be it deal or no deal. Population will only increase, human will only get richer and richer. Lifestyle will eventually blend into the rich does. Tourism, golf and casino. Japan as number 1 most incoming tourists will always be number 1.This trust will see results in 5years time.
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JerryMaple Veteran	02-Dec-2019 16:28        JerryMaple About Contact  Quote this Post!
x 0   x 0  Alert Admin	I find it a win or win situation for this trust be it deal or no deal. Population will only increase, human will only get richer and richer. Lifestyle will eventually blend into the rich does. Tourism, golf and casino. Japan as number 1 most incoming tourists will always be number 1.This trust will see results in 5years time.
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