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They' re betting on the China' s ppty market. China is shifting the rural population to cities. The demand for housing is huge & is an ongoing process, taking many years. Oue also needs a
tested builder wh. Gemdale is for they own land in Chengdu & Wuxi wh. they want to bld integrated development, including healthcare facilities. The latter is a good long term investment.
Everybody agrees on this, but the execution is another matter. So we ' ve to keep an eye on this while watching the US & S' pore percentage of its total assets. So far, it' is still abt. 80%. v.
little different fr. that published in Apr.' 19. wyeo.
tested builder wh. Gemdale is for they own land in Chengdu & Wuxi wh. they want to bld integrated development, including healthcare facilities. The latter is a good long term investment.
Everybody agrees on this, but the execution is another matter. So we ' ve to keep an eye on this while watching the US & S' pore percentage of its total assets. So far, it' is still abt. 80%. v.
little different fr. that published in Apr.' 19. wyeo.
I think the management sees more value in increasing the stake in Gemdale Properties. This is the 3rd investment into Gemdale i think and they only increased the stake in June this year.
Gemdale recent results announcement has been impressive ans share price has hit over a dollar this year too.
So now i think OUE is probably the 2nd largest shareholder of Gemdale Properties at 27%
Gemdale recent results announcement has been impressive ans share price has hit over a dollar this year too.
So now i think OUE is probably the 2nd largest shareholder of Gemdale Properties at 27%
ytthong1951 ( Date: 28-Aug-2019 10:56) Posted:
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The chances for the latter are not remote but reasonably high. wyeo.
This is what I' m saying in short. You should be getting a yield slightly more than ssb' s or more but cd get much more like the recent special of 11ct only if they' re selling or divesting. wyeo
They either start increasing their dividends or buy more properties. If not their share price not going anywhere.
My way of seeing where the $135m gain fr. M.Mandarin went to. Mainly to 50m fv mark-down of Oakwood & DT Gallery & 11m to depreciation of right-of-use assets pertaining to O. Mandarin &
Crowne Plaza C. These are non-cash items. The first can be reversed when the economy picks up again. The second refers to some accting figs.You put $1012m in to depreciate over time. It
affects the profit fig. but not the cash-flow. With cash at end 2q of $266m & another $95m coming in fr. the bungalow, I believe it can pay 2 or 3cts easily at 4q. At 3 or 4cts, the yield is 2 to 2.7%
at the curr. price of 1.47. With the merger of its 2 reits almost a certainty with the recent court approval, any divestment or sale of the US ppty or Oakwood & .... would be an added impetus to
its sh. price. wyeo.
Crowne Plaza C. These are non-cash items. The first can be reversed when the economy picks up again. The second refers to some accting figs.You put $1012m in to depreciate over time. It
affects the profit fig. but not the cash-flow. With cash at end 2q of $266m & another $95m coming in fr. the bungalow, I believe it can pay 2 or 3cts easily at 4q. At 3 or 4cts, the yield is 2 to 2.7%
at the curr. price of 1.47. With the merger of its 2 reits almost a certainty with the recent court approval, any divestment or sale of the US ppty or Oakwood & .... would be an added impetus to
its sh. price. wyeo.
I don' t mind more negatives on the stock, so that I can assess better when to enter again when more blood is spilt. wyeo.
when there's blood in the open sea, it will attract the sharks.... can see sharks approaching.
Yes sort of, am vested since the last drop to 1.3+ level, still profitable.
Looking to collect if depress further.
Looking to collect if depress further.
Among the properties stocks, it seems that Capitaland has supporters.
You mean suppression right... but now it is depressing for one reason, people dumping it and push price down further 😅 😅
Farmer ( Date: 15-Aug-2019 11:17) Posted:
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A profitable cpy like this one trading at 1/3 the nav looks cheap no matter which metrics we use in calculation.
Even if we were to take into account its debt level, its still worth more than the current market price.
I suspect its being depressed for some reasons - future privatisation?
As an investor, we need to take advantage should the market is inefficent.
Even if we were to take into account its debt level, its still worth more than the current market price.
I suspect its being depressed for some reasons - future privatisation?
As an investor, we need to take advantage should the market is inefficent.
You do know that the Singapore properties they are holding is on a lease so technically it does not belong to them and they have to renew it. Currently OUE business model reminded me of 包 租 婆 (rent collector) with all the nice commercial properties and hotels collecting rent. The rent (revenue) is stable with decline or increase largely depend on take up... i feel they need to do more than that to stay attractive.
If you are waiting for Dr Riady to take OUE private, i am not sure if that will happen. If it is not going to happen now at this price, it will not happen ever. Also, I think he likes freehold property like the Nassim road property, the rest in OUE are not.
If you are waiting for Dr Riady to take OUE private, i am not sure if that will happen. If it is not going to happen now at this price, it will not happen ever. Also, I think he likes freehold property like the Nassim road property, the rest in OUE are not.
ytthong1951 ( Date: 15-Aug-2019 10:51) Posted:
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I agree with you that not everything is based on nta. But, in ppty stocks, I use this as one of the guidelines, & I mention prime ppty & land in S' pore in my evaluation bec. ceteris paribus,
I trust S' pore ppty evaluation & roughly can tell whether the evaluation is more or less so, having read & kept records of the commercial ppties' prices in S' pore.
In buying ppty stocks, it' s like buying ppties in S' pore. You ' ve to buy low, not high. You ' ve to keep buying when the price goes down & down while checking & checking what ppties you' re
buying in the stock. The yield is also a guide. I bought KepLand & when it kept going down & down, I hesitated too much & ended up with a few thousands profit only when Keppel came in
to take it private. There' re many such examples(All green another one) of being taken pte. because the price had fallen too much. Know that the yield is usually not great bec. ppty in S' pore
is very expensive. wyeo.
I trust S' pore ppty evaluation & roughly can tell whether the evaluation is more or less so, having read & kept records of the commercial ppties' prices in S' pore.
In buying ppty stocks, it' s like buying ppties in S' pore. You ' ve to buy low, not high. You ' ve to keep buying when the price goes down & down while checking & checking what ppties you' re
buying in the stock. The yield is also a guide. I bought KepLand & when it kept going down & down, I hesitated too much & ended up with a few thousands profit only when Keppel came in
to take it private. There' re many such examples(All green another one) of being taken pte. because the price had fallen too much. Know that the yield is usually not great bec. ppty in S' pore
is very expensive. wyeo.
If everything is based on NTA then that would be a whole lot easier to buy and sell shares but it is not... i am looking at revenue and their business growth. Right now, i am seeing stagnant results and they are trying to find other businesses to go into. They tried to enter the korean casino scene, that didn't work out. They tried developing property, not their expertise as we can see from the twin peaks. They are going into healthcare but that purchase of IHC also came with some unpleasant surprises. Now they have invested more in Gemdale and i supposed they are going into the china property market but are they abit late into the game, still unsure for me.
But that's just my thoughts and of course you can disagree. I am vested too but i buy and sell based on my own decision so i welcome all views 😁 😁
But that's just my thoughts and of course you can disagree. I am vested too but i buy and sell based on my own decision so i welcome all views 😁 😁
ytthong1951 ( Date: 15-Aug-2019 09:35) Posted:
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OUE bought at 56m in 2016, now market value estimated at approximately 85m, so he is paying 95m for it... still only pocket change for him i supposed and probably easily pay off using the recent special dividend (since he owns 68% of the shares)
hlfoo2010 ( Date: 15-Aug-2019 01:17) Posted:
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The recent postings are generally v. pessimistic. There' s no need to be so. At 1.47 to the latest nav of 4.39, the discount is 67%. You' re paying 67% discount to 80% of total assets. This 80%
consists of prime land & properties in S' pore & US. Starship has quoted the chairman buying fr. Oue its bungalow at prime land in S' pore. I estimate the profit to Oue fr. $10 to $20m if the
construction cost is $20m. Where is the 67% discount? The chairman has to pay 10.1% above the aver. of Cushman & Knight Frank' s valuation. Let the market sell Oue down more & more,
I' ll buy. wyeo.
consists of prime land & properties in S' pore & US. Starship has quoted the chairman buying fr. Oue its bungalow at prime land in S' pore. I estimate the profit to Oue fr. $10 to $20m if the
construction cost is $20m. Where is the 67% discount? The chairman has to pay 10.1% above the aver. of Cushman & Knight Frank' s valuation. Let the market sell Oue down more & more,
I' ll buy. wyeo.
OUE directors very yr riches, but those bought oue share before 2013 broked.
Starship ( Date: 15-Aug-2019 00:58) Posted:
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Rich tycoon.....
Tycoon Stephen Riady buys GCB from OUE unit for S$95m
THU, AUG 15, 2019 - 12:17 AM
PROPERTY developer OUE' s executive chairman and controlling shareholder Stephen Riady is buying a Good Class Bungalow (GCB) at Nassim Road from an OUE subsidiary for S$95 million, OUE announced in a regulatory filing on Wednesday night.
OUE' s indirect wholly-owned unit OUE Reef Development has entered a sale-and-purchase agreement with Dr Riady for the 3,182 sq m plot at 26A Nassim Road and the property upon it.
The sale is in the ordinary course of business of the company, said OUE. Under the agreement, completion of the sale and purchase of the property shall take place on Dec 31, 2019.
https://www.businesstimes.com.sg/companies-markets/tycoon-stephen-riady-buys-gcb-from-oue-unit-for-s95m
Tycoon Stephen Riady buys GCB from OUE unit for S$95m
THU, AUG 15, 2019 - 12:17 AM
PROPERTY developer OUE' s executive chairman and controlling shareholder Stephen Riady is buying a Good Class Bungalow (GCB) at Nassim Road from an OUE subsidiary for S$95 million, OUE announced in a regulatory filing on Wednesday night.
OUE' s indirect wholly-owned unit OUE Reef Development has entered a sale-and-purchase agreement with Dr Riady for the 3,182 sq m plot at 26A Nassim Road and the property upon it.
The sale is in the ordinary course of business of the company, said OUE. Under the agreement, completion of the sale and purchase of the property shall take place on Dec 31, 2019.
https://www.businesstimes.com.sg/companies-markets/tycoon-stephen-riady-buys-gcb-from-oue-unit-for-s95m
Good or bad, still unsure yet....
bishan22 ( Date: 14-Aug-2019 07:59) Posted:
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