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241-260 of 644
huge cash pile
Return to SH!
looks more like bad news coming up soon....
Well, they may pull the most plum rabbit out of the bag .... just as we think the cash is sitting idling.
noslen ( Date: 15-Jun-2015 13:29) Posted:
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Am curious too how they going to re-invest the cash now after divesting the Crowne Plaza S$295mil (another 200mil upon completion of hotel extension), issuing S$300mil notes, selling OUBC at S$1.1bil and US200mil investment in Nuvest fund that they can tap on, that' s easily close to S$2bil of funds they can use... whatever happen to the Incheon integrated resort or Ho Chi Ming city development project, all talk but no action yet.
they take too long to realise those value.. and back to support again..
What is OUE doing? Trying to dispose all their property to OUEHT and OUECT. And sit on a pile of cash.
this seems to be a trait of this company, there could be heavy selling for no reason or negative announcement....
Rather oue Ht not for valuation but for returns
yohowslife ( Date: 27-May-2015 16:47) Posted:
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Current valuations are cheap and coupled with the fact that the company owns a strong portfolio of assets as well as a decent dividend yield, there is potential for significant total returns once sentiments turn for the better.
http://www.investark.com/Analysis45oue1q15.html
OUE price target reduced to $3.30 by Daiwa ' buy' call intact
May 25, 2015 : 8:37 AM
Daiwa has trimmed its sum-of-parts price target for OUE to $3.30 from $3.38 after lowering its 2015 to 2017 earnings per share estimates by 4% to 31% to partly account for new assumptions for OUE Downtown, which is currently being refurbished.
The development' s Downtown Gallery - 160,000 sq ft of retail space from basement 1 to level 5 - is expected to open in 4Q2016, while a portion of Downtown 1 is being developed into serviced apartments.
" The milestone schedule that we received is consistent with the company' s expected completion of 2016 (as stated in its 2014 annual report)," Daiwa analyst David Lum wrote in a note.
" However, with several major milestones scheduled for 4Q16, we believe there is a possibility that the actual completion of the Downtown Gallery could slip to 2017 with most tenants likely to fit out or move into the mall in 2017," he said.
" We push back our occupancy-rate assumptions for Downtown Gallery from 10% for 2016 and 90% for 2017 to 0% for 2016 and 25% for 2017."
Downtown Gallery' s maiden full-year revenue contributions are expected only in 2018, according to Lum, who has a " buy" rating on OUE.
" A delayed opening of several months would not have a significant impact on our net asset valuation valuation, but it would postpone the divestment of OUE Downtown to OUE' s listed REITs, a potential positive share-price catalyst for OUE," he said.
OUE shares last closed at $2.18.
Im even more confused...somebody help clarify pls 😞
"Argyle Street Management Holdings Limited (ASMHL) is the ultimate holding company of the General Partner of LAAP which manages, controls the operation of and determines the policy with respect to LAAP"
Kin Chan has a deemed interest in shares in OUE Ltd through the direct and deemed interest of Golden Concord Asia Limited (GCAL), the indirect subsidiary of Lippo ASM Asia Property LP (LAAP). Argyle Street Management Holdings Limited (ASMHL) is the ultimate holding company of the General Partner of LAAP which manages, controls the operation of and determines the policy with respect to LAAP.
"Argyle Street Management Holdings Limited (ASMHL) is the ultimate holding company of the General Partner of LAAP which manages, controls the operation of and determines the policy with respect to LAAP"
Kin Chan has a deemed interest in shares in OUE Ltd through the direct and deemed interest of Golden Concord Asia Limited (GCAL), the indirect subsidiary of Lippo ASM Asia Property LP (LAAP). Argyle Street Management Holdings Limited (ASMHL) is the ultimate holding company of the General Partner of LAAP which manages, controls the operation of and determines the policy with respect to LAAP.
Just received OUE Annual Report 2014 today....
As shown in the Company' s Register of Sunstantial Shareholders as at 17 March 2015.....
OUE immediate holding company is OUE Realty Pte Ltd. (Direct interest 55.23%).
The uliimate holding company is Lippo ASM Asia Property Ltd (Deemed interest 68.02%)
I thought the Riady family are still very much at the helm in OUE... if i recalled correctly, Kin Chan is a non exec director and the CIO of Argyle which holds less than 20% percent in Golden Concord which in turn has the deemed interest in OUE and Lippo owns majority of Golden Concord... very complicated relationship
I could be wrong but it looks to me that Arygle Street guys are calling the shots in OUE...
Anywhere you check it now shows Kin Chan and Argyle Street as substantial, everyone else falls in some other bracket inside
Edited:
Each company as mentioned below is deemed to have interest of 68.02% of OUE as at 30 March 2014.
WanSiTong ( Date: 16-Apr-2015 21:46) Posted:
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Yep, I think it' s not been tapped for the last two yrs plus at least. May be it' s wrong say it' s a formality. Rather it' s a contingency to be tapped when coy deems it necessary to do so. A lot of other coys also have it in place but not used.
noslen ( Date: 16-Apr-2015 21:04) Posted:
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Lippo has a deemed inerest of 68.02% of OUE as at 30 March 2014
Lippo is jointly held by Pacific Landmark and Admiralty
ASM Asia Recovery (Master) Fund ( AARMF) is a majority SH of Admiralty
ASM Asia Recovery Fund (AARF ) is a majority SH of AARMF
Argyle Street Mgt Ltd (ASML) manages AARF
Argyle Street Mgt Holdings Ltd (ASMHL) is the holding Co of ASML
So..... Lippo, Pacific Landmark ,Admiralty,ASM Asia Recovery (Master) Fund ,ASM Asia Recovery Fund ,Argyle Street Mgt Ltd ,Argyle Street Mgt Holdings Ltd are deemed to have interest of 68.02% of OUE as at 30 March 2014
noslen ( Date: 16-Apr-2015 21:04) Posted:
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Sorry I might be wrong but the share purchase mandate has been there every EGM and never exercise.
The share price has been trading at a 30-50% discount of the NAV for a few years, unlikely to move up on par but of course I would love to be proven wrong.
Marina Mandarin, I think they only owned 30% but that could change if they are able to buy it from UOL. Agreed that Bank Tower was a good buy.
I thought Lippo owns 68% of OUE? No?
Currently I am just eagerly waiting for an update from the management on the status of the Incheon integrated resort and Vietnam HCM city development project, these would be long term but exciting projects.
The share price has been trading at a 30-50% discount of the NAV for a few years, unlikely to move up on par but of course I would love to be proven wrong.
Marina Mandarin, I think they only owned 30% but that could change if they are able to buy it from UOL. Agreed that Bank Tower was a good buy.
I thought Lippo owns 68% of OUE? No?
Currently I am just eagerly waiting for an update from the management on the status of the Incheon integrated resort and Vietnam HCM city development project, these would be long term but exciting projects.
Well, DYODD. But I have always thought the US Bk Tower was a very shrewd investment. It was acquired at pretty low px. It' s gonna be a very very valuable asset in time to come.
basantd ( Date: 16-Apr-2015 17:11) Posted:
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When a distressed asset specialist like Argyle Street Mgt owns most of the company, and they issue a share buy back for a company that is more than 100% undervalued, i doubt it is just a formality....