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Global Premium Hotels - GPH - (SGX Code: P9J)
edwinjup
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29-Jan-2013 09:17     
 
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 Alert Admin 		Hope 30 cents by today
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jack31
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29-Jan-2013 09:16     
 
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 Alert Admin 		Moving again.. Gogogo!
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edwinjup
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28-Jan-2013 20:54     
 
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 Alert Admin 		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
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brenocav
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28-Jan-2013 20:26     
 
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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! 
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edwinjup
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28-Jan-2013 19:51     
 
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 Alert Admin 		Added.some.more today...expect more upside after they announce good dividen this Thursday night...
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jack31
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28-Jan-2013 17:22     
 
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 Alert Admin 		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.
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edwinjup
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27-Jan-2013 22:08     
 
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 Alert Admin 		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.
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sanuks
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27-Jan-2013 20:17     
 
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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.
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upnowhere
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24-Jan-2013 22:53     
 
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 Alert Admin 		you see.. wahaha CANT GO UP.. FAKE signal.
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upnowhere
Senior
23-Jan-2013 21:13     
 
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5k lots Q @ 0.26 for sell, and few thousand lots Q  @ 0.25. mostly Buyers and sellers were done at 0.255 since few weeks ago.

I think want to break 0.26 will be very hard the next few days. and on tuesday vol up 17,500k highest hit 0.265. Now back

to normal.

edwinjup      ( Date: 23-Jan-2013 13:28) Posted:

Bought some .gp.hotel.today..mainly due to it belong to koh family...they always know how to rewards shareholder..look.at maxi cash..fragrance group..etc...result.out end of the month..hope for one cent.dividen .at least...mid term.investment..now.belong.ipo .price
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edwinjup
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23-Jan-2013 13:28     
 
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 Alert Admin 		Bought some .gp.hotel.today..mainly due to it belong to koh family...they always know how to rewards shareholder..look.at maxi cash..fragrance group..etc...result.out end of the month..hope for one cent.dividen .at least...mid term.investment..now.belong.ipo .price
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Nopainnogain
Senior
17-Jan-2013 21:44     
 
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 Alert Admin 		FV is so close to closing price... r u sure this is good investment?

tonylim      ( Date: 24-Nov-2012 10:54) Posted:

Personally I think hotels business will thrive in Singapore.  So investing in hotel shares like Fragrance, Roxy etc should be good and safe bet

sanuks      ( Date: 24-Nov-2012 10:43) Posted:

Global Premium Hotels: Maintain FV of S$0.29




By Sarah Ong
Fri, 9 Nov 2012, 10:22:33 SGT

Global Premium Hotels (GPH) registered 3Q12 results that were below our expectations. 3Q12 revenue increased by 8.1% YoY to S$14.9m. EBITDA margin fell 6.6 ppt to 59.8% (excluding one-off expenses of S$0.5m for 3Q12). 9M12 EPS of 1.34 S cents equaled 72% of our prior FY12F estimate of 1.87 S cents, which we now lower to 1.75 S cents. GPH has begun construction of its new mid-tier Parc Sovereign Hotel located at Tyrwhitt Road in Aug 2012. An independent valuer has estimated a gross development value S$150m, implying a potential fair value gain of S$42m. We have incorporated the Tyrwhitt site development into our RNAV model. We maintain our fair value of S$0.29 (using a 10% discount to RNAV) and a BUY rating. GPH intends to distribute at least 80% of net profit after tax for FY12 we estimate an attractive FY12F dividend yield of 5.8%.

Lowering our FY12F EPS estimate
Global Premium Hotels (GPH) registered 3Q12 results that were below our expectations. 3Q12 revenue increased by 8.1% YoY to S$14.9m. Gross profit margin declined 1.7 ppt versus 3Q11 to 86.6%. EBITDA margin fell 6.6 ppt to 59.8% (excluding one-off expenses of S$0.5m for 3Q12). 9M12 EPS of 1.34 S cents equaled 72% of our prior FY12F estimate of 1.87 S cents, which we now lower to 1.75 S cents.

Admin. and finance expenses climb
Hotel room revenue increased by S$1.4m or 10.5% YoY. There was a contribution of S$1.7m from hotels that opened in 2011 (Parc Sovereign, Fragrance Riverside and Fragrance Elegance) or underwent upgrades in 2011 (Fragrance Emerald). These were partially offset by lower room revenue at Fragrance Ruby which is temporarily closed for asset enhancement. Ruby is expected to launch on 1 Dec with first-of-a-kind facilities for an economy-tier hotel, e.g. free Wi-Fi and Smart TV. Administrative expenses rose by S$2.0m, or 52% YoY, chiefly due to general increase in wages and additional staff needed for Riverside and Elegance. 3Q12 finance costs climbed S$1.6m, or 228% versus 3Q11. This was mainly due to the drawdown of S$453.5m in term loans in 1H12 for partial payment of the purchase consideration in connection with the 2Q12 IPO.

Started construction at Tyrwhitt
GPH has begun construction of its new mid-tier Parc Sovereign Hotel located at Tyrwhitt Road in Aug. The 265-room hotel situated on a freehold land will become GPH's largest hotel, increasing the portfolio by 15% to 2,003 rooms. An independent valuer has estimated a gross development value S$150m, implying a potential fair value gain of S$42m.

Maintain BUY
We have incorporated the Tyrwhitt site development into our RNAV model. We maintain our fair value of S$0.29 (using a 10% discount to RNAV) and a BUY rating. GPH intends to distribute at least 80% of net profit after tax for FY12 we estimate an attractive FY12F dividend yield of 5.8%.
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sanuks
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17-Jan-2013 21:13     
 
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Source: SGX


Global Premium Hotels Limited wishes to announce that the Company will release its
unaudited financial results for its full year ended 31 December 2012 on 31 January 2013 after
trading hours.


17 January 2013
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upnowhere
Senior
26-Dec-2012 11:53     
 
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Anyone invest in this counter???
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tonylim
Master
24-Nov-2012 10:54     
 
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 Alert Admin 		Personally I think hotels business will thrive in Singapore.  So investing in hotel shares like Fragrance, Roxy etc should be good and safe bet

sanuks      ( Date: 24-Nov-2012 10:43) Posted:

Global Premium Hotels: Maintain FV of S$0.29




By Sarah Ong
Fri, 9 Nov 2012, 10:22:33 SGT

Global Premium Hotels (GPH) registered 3Q12 results that were below our expectations. 3Q12 revenue increased by 8.1% YoY to S$14.9m. EBITDA margin fell 6.6 ppt to 59.8% (excluding one-off expenses of S$0.5m for 3Q12). 9M12 EPS of 1.34 S cents equaled 72% of our prior FY12F estimate of 1.87 S cents, which we now lower to 1.75 S cents. GPH has begun construction of its new mid-tier Parc Sovereign Hotel located at Tyrwhitt Road in Aug 2012. An independent valuer has estimated a gross development value S$150m, implying a potential fair value gain of S$42m. We have incorporated the Tyrwhitt site development into our RNAV model. We maintain our fair value of S$0.29 (using a 10% discount to RNAV) and a BUY rating. GPH intends to distribute at least 80% of net profit after tax for FY12 we estimate an attractive FY12F dividend yield of 5.8%.

Lowering our FY12F EPS estimate
Global Premium Hotels (GPH) registered 3Q12 results that were below our expectations. 3Q12 revenue increased by 8.1% YoY to S$14.9m. Gross profit margin declined 1.7 ppt versus 3Q11 to 86.6%. EBITDA margin fell 6.6 ppt to 59.8% (excluding one-off expenses of S$0.5m for 3Q12). 9M12 EPS of 1.34 S cents equaled 72% of our prior FY12F estimate of 1.87 S cents, which we now lower to 1.75 S cents.

Admin. and finance expenses climb
Hotel room revenue increased by S$1.4m or 10.5% YoY. There was a contribution of S$1.7m from hotels that opened in 2011 (Parc Sovereign, Fragrance Riverside and Fragrance Elegance) or underwent upgrades in 2011 (Fragrance Emerald). These were partially offset by lower room revenue at Fragrance Ruby which is temporarily closed for asset enhancement. Ruby is expected to launch on 1 Dec with first-of-a-kind facilities for an economy-tier hotel, e.g. free Wi-Fi and Smart TV. Administrative expenses rose by S$2.0m, or 52% YoY, chiefly due to general increase in wages and additional staff needed for Riverside and Elegance. 3Q12 finance costs climbed S$1.6m, or 228% versus 3Q11. This was mainly due to the drawdown of S$453.5m in term loans in 1H12 for partial payment of the purchase consideration in connection with the 2Q12 IPO.

Started construction at Tyrwhitt
GPH has begun construction of its new mid-tier Parc Sovereign Hotel located at Tyrwhitt Road in Aug. The 265-room hotel situated on a freehold land will become GPH's largest hotel, increasing the portfolio by 15% to 2,003 rooms. An independent valuer has estimated a gross development value S$150m, implying a potential fair value gain of S$42m.

Maintain BUY
We have incorporated the Tyrwhitt site development into our RNAV model. We maintain our fair value of S$0.29 (using a 10% discount to RNAV) and a BUY rating. GPH intends to distribute at least 80% of net profit after tax for FY12 we estimate an attractive FY12F dividend yield of 5.8%.
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sanuks
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24-Nov-2012 10:43     
 
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 Alert Admin 		Global Premium Hotels: Maintain FV of S$0.29




By Sarah Ong
Fri, 9 Nov 2012, 10:22:33 SGT

Global Premium Hotels (GPH) registered 3Q12 results that were below our expectations. 3Q12 revenue increased by 8.1% YoY to S$14.9m. EBITDA margin fell 6.6 ppt to 59.8% (excluding one-off expenses of S$0.5m for 3Q12). 9M12 EPS of 1.34 S cents equaled 72% of our prior FY12F estimate of 1.87 S cents, which we now lower to 1.75 S cents. GPH has begun construction of its new mid-tier Parc Sovereign Hotel located at Tyrwhitt Road in Aug 2012. An independent valuer has estimated a gross development value S$150m, implying a potential fair value gain of S$42m. We have incorporated the Tyrwhitt site development into our RNAV model. We maintain our fair value of S$0.29 (using a 10% discount to RNAV) and a BUY rating. GPH intends to distribute at least 80% of net profit after tax for FY12 we estimate an attractive FY12F dividend yield of 5.8%.

Lowering our FY12F EPS estimate
Global Premium Hotels (GPH) registered 3Q12 results that were below our expectations. 3Q12 revenue increased by 8.1% YoY to S$14.9m. Gross profit margin declined 1.7 ppt versus 3Q11 to 86.6%. EBITDA margin fell 6.6 ppt to 59.8% (excluding one-off expenses of S$0.5m for 3Q12). 9M12 EPS of 1.34 S cents equaled 72% of our prior FY12F estimate of 1.87 S cents, which we now lower to 1.75 S cents.

Admin. and finance expenses climb
Hotel room revenue increased by S$1.4m or 10.5% YoY. There was a contribution of S$1.7m from hotels that opened in 2011 (Parc Sovereign, Fragrance Riverside and Fragrance Elegance) or underwent upgrades in 2011 (Fragrance Emerald). These were partially offset by lower room revenue at Fragrance Ruby which is temporarily closed for asset enhancement. Ruby is expected to launch on 1 Dec with first-of-a-kind facilities for an economy-tier hotel, e.g. free Wi-Fi and Smart TV. Administrative expenses rose by S$2.0m, or 52% YoY, chiefly due to general increase in wages and additional staff needed for Riverside and Elegance. 3Q12 finance costs climbed S$1.6m, or 228% versus 3Q11. This was mainly due to the drawdown of S$453.5m in term loans in 1H12 for partial payment of the purchase consideration in connection with the 2Q12 IPO.

Started construction at Tyrwhitt
GPH has begun construction of its new mid-tier Parc Sovereign Hotel located at Tyrwhitt Road in Aug. The 265-room hotel situated on a freehold land will become GPH's largest hotel, increasing the portfolio by 15% to 2,003 rooms. An independent valuer has estimated a gross development value S$150m, implying a potential fair value gain of S$42m.

Maintain BUY
We have incorporated the Tyrwhitt site development into our RNAV model. We maintain our fair value of S$0.29 (using a 10% discount to RNAV) and a BUY rating. GPH intends to distribute at least 80% of net profit after tax for FY12 we estimate an attractive FY12F dividend yield of 5.8%.
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sanuks
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09-Nov-2012 16:32     
 
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Global Premium Hotels Q3 profit down 37%
Updated 09:38 PM Nov 08, 2012

SINGAPORE - Global Premium Hotels (GPH), the owner and operator of Singapore's second largest budget hotel chain, on Thursday reported net profit fell 36.9 per cent in the third quarter from the corresponding period a year earlier to S$4.2 million despite revenue rising 8.1 per cent to S$14.9 million.

Administrative expenses for 3Q 2012 increased by S$2 million, or 51.9 per cent, mainly due to the increase in staff costs arising from higher wages as well as additional employees required for Fragrance Hotel-Riverside and Fragrance Hotel-Elegance, it said. Finance costs surged by 228.2 per cent to $1.6 million, due to the drawdown of term loans of S$453.5 million by GPH subsidiaries, it added.

The occupancy in the Singapore hotel market has remained resilient thus far, GPH said, but it warned that " the on-going euro crisis and global economic uncertainty might weigh down on accommodation demand over the next 12 months."

" Business and leisure travellers might cut back on travelling, in turn affecting visitor arrivals and the overall hospitality sector," it said.
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sanuks
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23-Oct-2012 20:24     
 
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Global Premium Hotels Limited wishes to announce that the Company will release its
unaudited financial results for its third quarter ended 30 September 2012

on 8 November 2012 after trading hours.
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sanuks
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05-Oct-2012 20:07     
 
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Ya! understand your concern. Sometimes, its value trap. Well! never trust analyst reports.


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tonylim
Master
05-Oct-2012 09:04     
 
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 Alert Admin 		They actually meant it is undervalued at its current price.  Anyway, just bought some just in case.

phil1314      ( Date: 04-Oct-2012 22:38) Posted:

I am always weary when analyst highlight shares trading below its fair value when there is no liquidity in the counter. Roxy Pacific, GuocoLeisures plus many others are all in the same category and prices hardly move above the fair value for many years

sanuks      ( Date: 17-Sep-2012 09:35) Posted:

DBS Vickers, first to cover GLOBAL PREMIUM HOTELS, says its fair value is 29 cents
GPH_dbs_9.12
Source: DBS Vickers


Analyst: Derek TAN CPA

• Household name in the Economy hotel space

• Resilient operating model with portfolio expansion from the development of a new 265-room hotel

• Fair value of S$0.29 based on 20% discount to RNAV

Fair value of S$0.29. Given GPHL’s leading position in the economy tier segment of the Singapore hotel sector, we derive a fair value of S$0.29, based on a 20% discount to its RNAV of S$0.36.

This implies FY14F EV/EBITDA of 17x, in line with hospitality peers.

Earnings upgrade will be a price catalyst. Better than expected performance from its hotel segment in the coming quarters or acquisitions not factored in our forecasts are likely to drive profitability and stock price.

Balance sheet is relatively highly geared. GPHL’s net debt to equity ratio is relatively high at 1.4x, due to acquisition of its initial portfolio upon listing.

We noted that other metrics, such as interest cover, is comfortable at c.4-5x.


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