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superstartup Supreme	06-Nov-2024 22:46        superstartup About Contact  Quote this Post! Style: Fundamental   Yells: "Enjoy doing Fundamental Research"
x 0   x 0  Alert Admin	Definitely No $2 NAV la Not even $1 NAV also - - - - Re-post over this Wee Hur thread my earlier comments  That day I did a simple back of envelope analysis (or confirmation / interpretation analysis), taking reference from the Annual Valuation for their properties dated 28 Feb 2024, the financial statements as at 31 Dec 2023 and 30 June 2024 + the latest Annual report The subject Australia Portfolio sold to GIC comprises a total of 7 properties, and having a valuation of AUD $1.4B (say SGD 1.23B) as at 31 Dec 2023 [Note that the 8th Australia property is not part of the Portfolio sold to GIC. It is under another entity.] Wee Hur recorded its investment in this GIC co-owned portfolio in its statement  as Investment in Joint Ventures (as illustrated and explained in the Annual Report, Note 23) with a Value of SGD $355.7m based on 50.1% of the Group' s Equity Interest in the Joint Venture which has a Net Asset of SGD 705m as at 31 Dec 2023. Take note this net Asset does not refer to the valuation of the 7 properties in the portfolio. Instead, it is the Equity at the portfolio level, adjusted for changes in properties valuation, profit / losses etc. You can also take reference from the financial result as at 30 Jun 2024 - the financial notes.  We also know the Debt at Australia Portfolio Level (current and non current liabilities) = SGD 601m, figure taken from the Annual Report too. Conclusion: The GIC co-owned Australia Portfolio indeed has a huge debt amount, where the valuation of the 7 properties is AUD $1.4B (say SGD $1.23B) versus Net Asset of the Portfolio at SGD 705m, both as at 31 Dec 2023 The debt at the Australia Portfolio is SGD 601m as at 31 Dec 2023 Wee Hur NAV as at 31 Dec 2023 is 66c Wee Hur NAV as at 30 Jun 2024 is 73c Based on Wee Hur 30 Jun 2024 result, the Equity Interest in the Joint Venture, i.e. the GIC co-owned Australia Portfolio has increased to SGD $403m 50.1% stake = SGD 403m 100% stake = SGD 804m = > SGD 804m is the Net Asset of the Australia Portfolio (Total Equity) Australia Financial Review quoted AUD $1.6B Gross Price = say SGD 1.4B Gross Price In Finance, Gross Price would include all the liabilities of the Business / Portfolio Looking back, the    debt level at the Australia Portfolio is SGD 601m as at 31 Dec 2023 So Australia Financial Review quoted price tag of AUD $1.6B Gross Price (SGD 1.4B Gross Price) is quite in line with the 100% stake Net Asset Value of the Australia Portfolio at SGD 804m as at 30 Jun 2024, assuming same debt level of SGD 601m Assuming if the sale goes through, what is the impact on the NAV for Wee Hur ? It is anyone' s interpretation - - - - - - - -  Gross Purchase Price and Equity Value Concept Portion of the 2022 Sale Details as announced by Wee Hur, extracted for easy reference on the Gross Purchase Price concept, Equity Value concept and how much GIC actually fork out for the 49.9% stake " 5. PRINCIPAL TERMS OF THE PROPOSED DISPOSAL 5.1. Consideration Under the terms of the Unit Sale Agreement, the gross purchase price of the Sale Units is A$567,862,000, being the 49.9% of the gross asset value of A$1,138,000,000 of the Properties (the & ldquo Gross Purchase Price& rdquo ). The Gross Purchase Price was arrived at after arm& rsquo s length negotiations on a willing seller willing buyer basis. The estimated consideration in cash shall be A$275,198,500, being the 49.9% of the equity value of A$551,500,000 of the Master Trust (the & ldquo Estimated Consideration& rdquo ), taking into account first mortgage indebtedness against the Properties, and subject to any (i) net assets adjustments on respective settlement dates, (ii) 3 amounts to be deposited in escrow accounts as established under the Unit Sale Agreement, (iii) withholding amounts by the Purchaser as required under any relevant law, (iv) agreed purchase price adjustments mechanism under the Unit Sale Agreement (the & ldquo Relevant Adjustments& rdquo ). " machidrain      ( Date: 04-Nov-2024 08:48) Posted: As mentioned earlier, there are questions about whether the A$1.6 billion cited by AFR is the asking price for the entire PBSA asset, rather than just GIC&rsquo s 49.9 per cent share. But then, given that the property was valued at A$1.4 billion early this year, would it not make sense for Wee Hur and GIC to seek a premium? The AFR is a reputable 73-year-old newspaper that usually does not get its facts wrong. Then there are Wee Hur&rsquo s other assets, including its own Australian 409-bed PBSA2, and its 15,744-bed purpose-built workers&rsquo dormitory (PBWD) in Singapore. In addition, its new 10,500-bed PBWD, also in Singapore, will be operational by the end of 2024. If these were added to the reported PBSA1 sale valuation, Wee Hur&rsquo s net asset value per share, which was 73 cents at the end of June, should be closer to $2. Whatever the case, Wee Hur seems significantly undervalued. Little wonder that the market, though somewhat confused, is still excited over the prospect of a deal.
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rlong8288 Master	06-Nov-2024 18:34        rlong8288 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Just hope is nota one day stand
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SmallSmall Supreme	06-Nov-2024 16:56        SmallSmall About Contact  Quote this Post!
x 0   x 0  Alert Admin	This one holding well.......at day high..
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machidrain Veteran	04-Nov-2024 08:49        machidrain About Contact  Quote this Post!
x 0   x 0  Alert Admin	https://www.multifamilydive.com/news/greystar-australia-student-housing/731331/
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machidrain Veteran	04-Nov-2024 08:48        machidrain About Contact  Quote this Post!
x 0   x 0  Alert Admin	As mentioned earlier, there are questions about whether the A$1.6 billion cited by AFR is the asking price for the entire PBSA asset, rather than just GIC&rsquo s 49.9 per cent share. But then, given that the property was valued at A$1.4 billion early this year, would it not make sense for Wee Hur and GIC to seek a premium? The AFR is a reputable 73-year-old newspaper that usually does not get its facts wrong. Then there are Wee Hur&rsquo s other assets, including its own Australian 409-bed PBSA2, and its 15,744-bed purpose-built workers&rsquo dormitory (PBWD) in Singapore. In addition, its new 10,500-bed PBWD, also in Singapore, will be operational by the end of 2024. If these were added to the reported PBSA1 sale valuation, Wee Hur&rsquo s net asset value per share, which was 73 cents at the end of June, should be closer to $2. Whatever the case, Wee Hur seems significantly undervalued. Little wonder that the market, though somewhat confused, is still excited over the prospect of a deal.
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QueenMaya Senior	04-Nov-2024 08:32        QueenMaya About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thank you can help to breakdown to help understand better please? Thank you. machidrain      ( Date: 04-Nov-2024 07:53) Posted: Base on NAV if the Australian hostel business were to be sold. NAV is around $2.
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Jiyaji Senior	04-Nov-2024 08:27        Jiyaji About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thank you
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machidrain Veteran	04-Nov-2024 07:53        machidrain About Contact  Quote this Post!
x 0   x 0  Alert Admin	Base on NAV if the Australian hostel business were to be sold. NAV is around $2.
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Jiyaji Senior	04-Nov-2024 07:38        Jiyaji About Contact  Quote this Post!
x 0   x 0  Alert Admin	What is a reasonable TP for this counter?
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Rocket888 Member	03-Nov-2024 21:26        Rocket888 About Contact  Quote this Post!
x 0   x 0  Alert Admin	No analyst of brokerage house has given a price target of 72c. If so, it was extremely undervalued all these years. No? yamseng      ( Date: 03-Nov-2024 16:22) Posted: one lot of 36 cents, and 2 lots equal 72 cents haha Rocket888      ( Date: 23-Oct-2024 17:29) Posted: How u arrived at 72 cents
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Rocket888 Member	03-Nov-2024 21:21        Rocket888 About Contact  Quote this Post!
x 0   x 0  Alert Admin	How many lots u sold? Average return ? domperrier      ( Date: 03-Nov-2024 10:21) Posted: Retailers psyche all super fragile...profit-taking all shaken out already!  I' m 85% out from 44.5c till 54c after 115 months & 16 dividends. Waiting to add back if & when it forms a reasonably strong base...
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yamseng Supreme	03-Nov-2024 16:22        yamseng About Contact  Quote this Post!
x 0   x 0  Alert Admin	one lot of 36 cents, and 2 lots equal 72 cents haha Rocket888      ( Date: 23-Oct-2024 17:29) Posted: How u arrived at 72 cents. domperrier      ( Date: 23-Oct-2024 10:44) Posted: My contrarian tendencies kicked in & so I took profit on a wee bit more of this stock @ 54c just for lunch & dessert for a few days...  As for the rest, no 72c, NO SELL!
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domperrier Member	03-Nov-2024 10:21        domperrier About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Retailers psyche all super fragile...profit-taking all shaken out already!  I' m 85% out from 44.5c till 54c after 115 months & 16 dividends. Waiting to add back if & when it forms a reasonably strong base...
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finjungle Veteran	23-Oct-2024 19:58        finjungle About Contact  Quote this Post!
x 0   x 0  Alert Admin	This will be a long long wait - tan ku ku Rocket888      ( Date: 23-Oct-2024 17:29) Posted: How u arrived at 72 cents. domperrier      ( Date: 23-Oct-2024 10:44) Posted: My contrarian tendencies kicked in & so I took profit on a wee bit more of this stock @ 54c just for lunch & dessert for a few days...  As for the rest, no 72c, NO SELL!
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Rocket888 Member	23-Oct-2024 17:29        Rocket888 About Contact  Quote this Post!
x 0   x 0  Alert Admin	How u arrived at 72 cents. domperrier      ( Date: 23-Oct-2024 10:44) Posted: My contrarian tendencies kicked in & so I took profit on a wee bit more of this stock @ 54c just for lunch & dessert for a few days...  As for the rest, no 72c, NO SELL!
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hp3000 Veteran	23-Oct-2024 17:28        hp3000 About Contact  Quote this Post! Style: Combined   Mood: Yells: "Huart Ah !! Count $$$$$ liao"
x 0   x 0  Alert Admin	Far behind fair value. But don't know how they calculate. Read from different website. Priced $1.86 & $5.08
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Rocket888 Member	23-Oct-2024 17:27        Rocket888 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Morning surge cld be short cover?
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Taylor Elite	23-Oct-2024 15:58        Taylor About Contact  Quote this Post!
x 0   x 0  Alert Admin	Some sell take profit happy Some short when buy back Later Now Happy buy back and cheaper chance Again Let go haby
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yamseng Supreme	23-Oct-2024 15:44        yamseng About Contact  Quote this Post!
x 0   x 0  Alert Admin	correct ... back to 40 cents !!   tofudidi      ( Date: 23-Oct-2024 14:51) Posted: nice, durian coming. time to scoop. see can drop more  tofudidi      ( Date: 23-Oct-2024 13:53) Posted: going below 500 first. can scoop nice durian
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FOREVERFREEDOM Veteran	23-Oct-2024 15:39        FOREVERFREEDOM About Contact  Quote this Post!
x 0   x 0  Alert Admin	Gap close mean end game? tofudidi      ( Date: 23-Oct-2024 15:29) Posted: crashing in progress. gap closed.
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