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OUE' s investment in Gemdale Properties and Investment Corporation Ltd at HKD 0.52 per share vs (Current Price HKD 0.31) has resulted loss of around $100m on paper.
Meaningless and value destroying investment.
And it's only the beginning.....
The 7 month hell gate is open up.
STI going to hell drop 76.6 pts now.
Can OUE escape ?
taxiuncle ( Date: 24-Aug-2015 10:05) Posted:
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Never seen this price before....looks weak who are the sellers?
noslen ( Date: 20-Aug-2015 16:17) Posted:
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nolsen i think u are right..
This is the info found on May 11th Maybank company research
Major shareholders: -Argyle Street Management Holdings Ltd. 63.1% -OUE Ltd. 7.3% -LEE FAMILY /OCBC/ 1.6%
Just curious, based on the share buy back announcement, the treasury shares OUE currently hold is 8% of the total issued share... and if the major shareholder is still holding 68%, does that mean the total share in the market is only 24%?
seems like there's some support in the price...
Starts to drop...never see this price before.....
The buy back will not be immediate. It looks like there still room to drop before heading up.
That's true but I think because the daily volume done is not high and they are contributing two third of the daily volume, I am sure its going to help in some way.
share buy back sometime not working,,look at lian beng, buy back 66c, till nw buying back at 51c plus.
More share buy back today... Hope this will be a daily affair and further support the price.
Most of the shares are held by Argyle...from experience I think only direction for this counter is to be privitized together by riadys and argyle, while sitll having control of their 2 reits...
Share buy back started yesterday, hope it will support the price or drive it up....
OUE kept at &lsquo hold&rsquo by Maybank Kim Eng with target price cut to $1.92
What a beautiful Japanese " two homes" red maple leaf!
SINGAPORE (Aug 17): Although the valuation of OUE may be regarded as cheap, Maybank Kim Eng in a note on Monday says it sees a lack of rerating catalysts for the stock amid a " muted" earnings outlook ahead.
It says OUE may be exposed to volatile earnings and " possibly a riskier stock profile" after the hospitality group increased non-core holdings to $ 479 million in mutual funds from $ 374 million previously.
Already, OUE' s 2QFY15 net loss of $ 16.3 million was due mainly to fair value losses of $ 20.5 million in mutual funds.
Its EBIT of $ 18.6 million came slightly below Maybank Kim Eng' s expectations, accounting for 36% of full-year forecasts.
Hence, the research house maintained a " hold" rating for the stock and cut target price to $ 1.92 from $ 2.35 previously.
Meanwhile, Maybank Kim Eng reduced its revalued net asset value estimates to $ 3.85 from $ 3.94 to reflect the updated market value of OUE' s stakes in OUE C-REIT and OUE H-Trust.
At 12.45 pm today, OUE nudged up 0.5 cent or 0.3% to $ 1.855 with some 4.5 million shares traded.
Last : $ 1.85
Cos this is the real great spore sale, like u' ve never experienced before.
taxiuncle ( Date: 12-Aug-2015 12:52) Posted:
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OMG!!!Why this so low?
Earnings per share is $1.20...FY2014 they gave div amounting to 15.9 cents a share...at todays share price of 1.98 that is 8%..net asset value after the sale of One raffles(+ buying back shares of OUE ct at a discount), Crowne Plaza, and revaluation of US Bank Tower i think should be around the $4.50 - $5 range in cash, shares and liquid assets...
So someone today is buying $5 for $2...
As we have seen with so many other companies, ex Metro Holdings, Wing Tai...companies with the above dna only have 3 directions they can go..
1) do what it can to bring price back up close to NAV levels
2) spin out cash to reduce NAV to current share price levels
3) get taken over or start selling its assets and delist
and the best chicken rice was at their AGM, catered by Chatterbox...
WHy not toward north,
no chicken rice or not nice ?????
miss it
The people behind this company are so smart....they are selling One Raffles Place at a great price to OUE Commerical Reit...and buying back prefferencial shares at a nice discount by doing a rights issue...then probably down the road, we will be getting shares of OUE comm reit instead of a dividend...as long as they are selling properties at good values to their own reits and cash and value is piling up..its looks like a good deal!
OUE Commerical REIT issuing 393.3 million new units, raising funds for ORP purchase
OUE Commercial REIT (OUECT) is executing an underwritten renounceable rights issue to acquire an indirect interest in One Raffles Place (ORP) from its sponsor OUE Limited. Nine rights units for every 20 existing units will be issued at a price of S$0.555 per unit.
The total cost of the acquisition will be S$1.062 billion to S$1.178 billion. The purchase considerations consists of a mix of approximately S$218.3 million raised from the rights issue, a debt drawdown from S$333.3 million to S$399.3 million and S$500 million to S$550 million of convertible perpetual preference units (CPPUs) issued to the sponsor.