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wow good sale profit that will lift eps to 111.
increased cash level and many ratios improved.
the revenue will stays about the same or more with pan pacific orchard singapore operating now.
think with pan pacific orchard singapore operating, could have a better valuation then those reported as well.
good if uol can do more recycle of asset to realised hidden value.
properties has gone up quite a bit from dec 2019
uol share price at 30 dec 2019 was $8.37. now only $6.47 . with more hotels, more offices and realising the extra plot ratio of cbd offices
what will be the price of uol as we move towards 15-17 sep F1 singapore grand prix 2023
hope to have some special dividend.
increased cash level and many ratios improved.
the revenue will stays about the same or more with pan pacific orchard singapore operating now.
think with pan pacific orchard singapore operating, could have a better valuation then those reported as well.
good if uol can do more recycle of asset to realised hidden value.
properties has gone up quite a bit from dec 2019
uol share price at 30 dec 2019 was $8.37. now only $6.47 . with more hotels, more offices and realising the extra plot ratio of cbd offices
what will be the price of uol as we move towards 15-17 sep F1 singapore grand prix 2023
hope to have some special dividend.
Group behind Hotel 81 buys UOL' s Parkroyal Kitchener Hotel for $525 mil
UOL Group has sold Parkroyal Kitchener Hotel for $525 million to Midtown Properties.
The latter shares the same registered address as Hotel 81 Management and Worldwide Hotels, whose chairman is Choo Chong Ngen, founder of the Hotel 81 chain. His daughter, Carolyn Choo, is the group&rsquo s managing director and CEO.
The hotel, with 542 rooms, is held under UOL' s hospitality unit Pan Pacific Hotels Group. Located along Kitchener Road, off Serangoon Road, the property is near Mustafa Centre and City Square Mall, which is linked to the Farrer Park MRT station on the Northeast Line.
UOL currently holds the hotel at $83 million on its books. Upon completion of the sale, UOL book a gain of $446.2 million.
According to a Jan 9 valuation by Jones Lang LaSalle Property Consultants, the hotel is valued at $423 million as at Dec 2022.
" The proposed disposal provides a good opportunity for the group to unlock the value of its investment in Parkroyal Kitchener Hotel at an attractive price, and is part of the group' s reconstitution of its overall property portfolio," says UOL on July 4.
On a pro forma basis, UOL' s NTA per share as of Dec 31 2022 would increase from $12.55 to $13.08.
Earnings per share would increase from 58.24 cents to 111.94 cents.
UOL shares closed July 4 at $6.39, down 1.84%.
Citigroup raised UOL target price to S$9.08 from S$8.43: https://www.theedgesingapore.com/capital/brokers-calls/eye-narrowing-discount-gap-citi-raises-uol-target-price-908#:~:text=price%20to%20%249.08-,With%20an%20eye%20on%20narrowing%20discount%20gap%2C%20Citi,UOL%20target%20price%20to%20%249.08& text=but%20with%20a%20raised%20target,price%20and%20RNAV%20can%20narrow. .
However price continues to hover at low regions going as low as S$6.36 today ( it went lower a few days ago ).
However price continues to hover at low regions going as low as S$6.36 today ( it went lower a few days ago ).
Mayer Road sales just went through a few days ago: https://links.sgx.com/FileOpen/UOL-Updates%20on%20Acquisition%20of%20Meyer%20Park.ashx?App=Announcement& FileID=764172 .
At that price, I defintely would buy.
pasttime ( Date: 27-Jun-2023 14:33) Posted:
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very rare to see uol kena push down till this price day after day. dumpdown cover, dumpdown cover every day.
is there something wrong about uol that we do not know? are they money trouble? or project stuck cannot sell?
witing for wee to buy some. he no buy i better no buy.
maybe can become $5 later
is there something wrong about uol that we do not know? are they money trouble? or project stuck cannot sell?
witing for wee to buy some. he no buy i better no buy.
maybe can become $5 later
singapore school holiday starts from this week.
malaysia next week
vesak day this fri. another long holidays.
pan pacific orchard opening for business.
malaysia next week
vesak day this fri. another long holidays.
pan pacific orchard opening for business.
moving like sin curve. wont go pass 7$.
To $7.50...🤞 🤞 🤞
Looking good here... Put in some $$$....
agm on 3pm 28 apr 23 at park royal at beach road grand ball room.
wonder if boss will give an update of the capital value gain from all the actions of new build hotel, office. the estimated amount of additional office rental and hotel income boost.
immediately after agm is jap golden week (29 apr to 7 may) to and china long week end (29 apr to may 3) for may day. wonder what singapore shopping center, hotel has to attract tourist from jap and china?
if nothing hope next year can happen to promote to japan and chinese tourist to visit.
wonder if boss will give an update of the capital value gain from all the actions of new build hotel, office. the estimated amount of additional office rental and hotel income boost.
immediately after agm is jap golden week (29 apr to 7 may) to and china long week end (29 apr to may 3) for may day. wonder what singapore shopping center, hotel has to attract tourist from jap and china?
if nothing hope next year can happen to promote to japan and chinese tourist to visit.
UOL Group
On Mar 27, Wee Investments acquired 300,00 shares at an average price of S$6.74 per share. This took the total interest of chairman Wee Cho Yaw from 38.30 per cent to 38.34 per cent.
The preceding acquisitions by Wee Investments were in May 2022, with 700,000 shares acquired at an average price of S$6.99 per share.
With more than 60 years of experience across the banking, insurance, real estate, and hospitality industries, Apr 23 will mark 50 years that Wee has served as a director of UOL Group.
Wee will be appointed chairman emeritus of United Overseas Insurance : U13 0% (UOI) with effect from his retirement as chairman and director at the close of the UOI AGM on Apr 14. He has also retired as chairman of Singapore Land Group and Marina Centre Holdings on Mar 31.
At the time of writing, there have been no announcements of his intentions to remain or retire as chairman of both UOL Group : U14 +0.58% and Haw Par Corporation : H02 +0.41%.
On Feb 27, UOL Group reported FY22 (ended Dec 31) net attributable profit of S$491.9 million, representing 60 per cent growth from FY21. Revenue from property development rose 26 per cent to S$1.98 billion in FY22 on higher progressive revenue recognition from Clavon, The Watergardens at Canberra and AMO Residence in Singapore, while more units were handed over for Park Eleven in Shanghai.
With the results, UOL Group CEO Liam Wee Sin noted that management believed that the group&rsquo s residential inventory which has strong locational attributes will continue to draw keen interest from homebuyers and investors and its land replenishment includes two freehold land parcels which are rare and sought after.
UOL Group, through its hotel subsidiary Pan Pacific Hotels Group, also owns three acclaimed brands namely Pan Pacific, Parkroyal Collection and Parkroyal.
In FY22, hotel operations saw a significant revenue increase of 97 per cent to S$554.1 million due mainly to contributions from the opening of new or refurbished hotels, including Parkroyal Collection Marina Bay in May 2021, Pan Pacific London in September 2021, and Parkroyal Collection Kuala Lumpur in June 2022.
looks like pan pacific orchard started to accept booking from 1 Jun 23. new hotel good for jun holiday staycation.
also nice for for f1 gp 15-17 Sep.
completion of the hotel will add to the capital value. also like revenue and profit. wonder what restaurant will be there.
how about agm at this hotel to enjoy the new facilities.
also nice for for f1 gp 15-17 Sep.
completion of the hotel will add to the capital value. also like revenue and profit. wonder what restaurant will be there.
how about agm at this hotel to enjoy the new facilities.
UOL Group reports earnings of $120.8 mil for 2HFY2022, 44% lower y-o-y
UOL Group U14 -0.74% has reported earnings of $120.8 million for the 2HFY2022 ended Dec 31, 2022, 44% lower than the earnings of $216.1 million for the corresponding period the year before.
The lower half-year earnings were due to the higher finance costs, other losses compared to gains from the year before, as well as fair value losses on the group&rsquo s investment properties from the gains in the year before.
For the FY2022, the group&rsquo s earnings improved by 60% y-o-y to $491.9 million. Though finance costs rose as well due to interest rate hikes and new loans including those used to acquire the Watten Estate and Pine Grove sites, the group also saw a share of profit from its associated companies compared to a loss in the FY2021. The surge in share of profit of a joint venture company (JVCo) and fair value gains also contributed to the y-o-y growth in the group&rsquo s full year earnings.
During the 2HFY2022, revenue increased by 21% y-o-y to $1.67 billion. FY2022 revenue increased by 28% y-o-y to $3.20 billion. The revenue growth was attributable to higher revenue from the group&rsquo s property development and hotel operations. Development projects in Singapore and China accounted for slightly over half of the total revenue for the FY2022.
Revenue from property development rose during the 2HFY2022 and FY2022 due mainly to higher progressive recognition of revenue from Clavon, The Watergardens at Canberra and AMO Residence. The higher number of units handed over for Park Eleven, Shanghai, also contributed to the revenue growth.
Revenue from hotel operations also grew during the 2HFY2022 and FY2022 due mainly to the opening of new or refurbished hotels. This includes the Parkroyal Collection Marina Bay in May 2021, Pan Pacific London in September 2021 and Parkroyal Collection Kuala Lumpur in June 2022. The segment also benefitted from the reopening of borders and the resumption of economic and social activities in the segments&rsquo respective countries.
2HFY2022 gross profit increased by 32% y-o-y to $564.7 million while gross profit for the FY2022 increased by 33% y-o-y to $1.07 billion. Gross profit margin (GPM) for the 2HFY2022 increased by three percentage points to 34% while GPM for the FY2022 increased by one percentage point to 33%.
Finance costs surged by 104% y-o-y to $81.7 million during the 2HFY2022 while finance costs rose by 90% y-o-y to $128.3 million during the FY2022. This was due mainly to the rising interest rate environment.
In the 2HFY2022, the group registered other losses of $5.1 million from the other gains of $26.7 million in the 2HFY2021. FY2022 other losses came to $5.1 million, down from other gains of $26.7 million in the FY2021.
During the 2HFY2022, the group also saw fair value losses of $48.9 million on its investment properties compared to the other gains of $129.4 million in the 2HFY2021. On the other hand, the group registered fair value gains of $268.2 million for the FY2022, 135% higher y-o-y.
Share of profit of associated companies stood at $3.0 million during the 2HFY2022, up from the share of loss of $2.6 million. During the FY2022, share of profit came to $1.1 million, up from the $9.6 million share of loss in the FY2021.
Share of profit of a JVCo fell by 84% y-o-y to $601,000 in the 2HFY2022. However, this came to $18.3 million during the FY2022, 205% higher y-o-y.
The higher share of profit from associated and JV companies in the FY2022 was due to higher contribution from Meyer House and better performance by Mandarin Oriental Singapore.
As at Dec 31, 2022, cash and cash equivalents stood at $1.46 billion.
Earnings per share (EPS) for the 2HFY2022 and FY2022 stood at 14.31 cents and 58.23 cents respectively.
A first and final dividend of 15 cents per share has been declared, along with a special dividend of 3 cents per share. This brings the group&rsquo s total dividend for the FY2022 to 18 cents per share, up from 15 cents per share in the FY2021.
&ldquo We are pleased with the strong set of results for the full year on the back of healthy sales of our residential projects and the rebound in the hospitality business,&rdquo says Liam Wee Sin, CEO of UOL Group.
&ldquo Going forward, we are mindful of the external uncertainties given the ongoing geopolitical tensions, persistent inflationary pressures, recession risks in some developed economies and rising business costs,&rdquo Liam adds.
Looking ahead, the group says it expects the residential property market in Singapore to remain &ldquo healthy&rdquo although the higher property prices will be moderated by a projected higher supply in new homes in 2023. The higher Buyers&rsquo Stamp Duty (BSD), which was introduced during the Budget 2023, is also likely to have a &ldquo marginal impact&rdquo on &ldquo end-sale home demand&rdquo .
Office rents in the central region of Singapore are also expected to grow at a slower pace in 2023. That said, the group believes that rental prices should continue to stay supported by the tight future supply and might be further mitigated by the reduction of inventory due to potential redevelopment in the central business district.
&ldquo We believe UOL&rsquo s residential inventory which has strong locational attributes will continue to draw keen interest from homebuyers and investors. Our land replenishment includes two freehold land parcels which are rare and sought-after,&rdquo says Liam.
On rentals, Liam adds that the group is pursuing more asset enhancement initiative (AEI) projects to &ldquo strengthen our office portfolio&rdquo .
&ldquo [This will allow us] to be better positioned to cater to tenants who are seeking more flexible space, living room concepts and sustainable features.&rdquo
In addition, the group&rsquo s hospitality business could continue to &ldquo trend upwards&rdquo amid the return of tourists.
FY results at end of Feb.
see whether it can stand at $7
current interes rate for home loan range 3.44 to 4.25
such rate cannot said is high. it can go up another 1-2 % .even that is only in the normal range of last 20-30 years. can only say interest rate returning to more normal now.
from copen grand sold out, think buyers still can stomach the current interest rate. and that is after all the financial restrictions put in by authority.
don t miss the improvement will from hotel. from city dev. update one can see in singapore both occupancy and room rates has gone up quite a little bit.
such rate cannot said is high. it can go up another 1-2 % .even that is only in the normal range of last 20-30 years. can only say interest rate returning to more normal now.
from copen grand sold out, think buyers still can stomach the current interest rate. and that is after all the financial restrictions put in by authority.
don t miss the improvement will from hotel. from city dev. update one can see in singapore both occupancy and room rates has gone up quite a little bit.
6.75 
+0.09
high Int rate Environ doesn' t bode well for properties
+0.09high Int rate Environ doesn' t bode well for properties
ozone2002 ( Date: 25-Jul-2022 11:18) Posted:
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regaining its beauty.
likely to go back to 7.++ soon.
this is not a div stock. its div suck.
likely to go back to 7.++ soon.
this is not a div stock. its div suck.