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thanks for pointing it out.
i am still not wrong about prudential tower....but you need to do your research a little bit more careful.....the sale was for epic 10-2 and 19-2 But the purchasers were
The Purchasers are Epic Land (01) Pte Ltd, Epic Land (10-1) Pte Ltd, Epic Land (10-2) Pte Ltd, Epic Land (11-1) Pte Ltd, Epic Land (11-2) Pte Ltd, Epic Land (12-1) Pte Ltd, Epic Land (12-2) Pte Ltd, Epic Land (13-1) Pte Ltd, Epic Land (13-2) Pte Ltd, Epic Land (14-1) Pte Ltd, Epic Land (14-2) Pte Ltd, Epic Land (15-1) Pte Ltd, Epic Land (15- 2) Pte Ltd, Epic Land (16-1) Pte Ltd, Epic Land (17-1) Pte Ltd, Epic Land (17-2) Pte Ltd, Epic Land (18-1) Pte Ltd, Epic Land (18-2) Pte Ltd, Epic Land (19-1) Pte Ltd, Epic Land (19-2) Pte Ltd, Epic Land (20) Pte Ltd, Epic Land (21) Pte Ltd, Epic Land (22) Pte Ltd, Epic Land (23) Pte Ltd, Epic Land (24) Pte Ltd, Epic Land (25) Pte Ltd, Epic Land (26) Pte Ltd, Epic Land (27) Pte Ltd, Epic Land (28) Pte Ltd and Epic Land (29) Pte Ltd.
they purchased the prudential tower according to the strata title and when they sell each unit or floor, they disposed the JV accordingly. They still have 88% of prudential tower that are not sold. When they are done with Prudential tower, they will make at least 110 to 120 mil and KOP will make about 25% of that.
I did not realise they are setting up such a structure but it make sense.
So thanks for your reminder and also may be dont jump to conclusion so easily abt my misinformation!!!!
no offence. and in event of misquote.please just correct me. besides i have no positions so don' t bother about me. was just concerned on the fact that people still think they are in the prudential towers project. i mean it is forgivable. the announcement just wasn' t clear enough
I am not sure, but i think either you don' t do your research thoroughly or i read wrongly or you trying to mislead people but nevertheless, maybe some seniors and help see if i am reading right?
been wanting to buy and did some research leading to my own opinion that this company a bit...special. especially their accounts a bit shifty.. maybe i noob. but the way i see. i scared.
(My opinion is only my view and your own dilligence should be done before you take my opinion else caveat emptor)
below is the article to state that KOP has no investment in prudential towers any longer as they invested through a JV named epic land. basically they cashed out and (if i am not wrong- don' t quote me DYODD - lost money or maybe not)
@edwinjup maybe you can help analyze and breakdown this company? Your view more multi faceted. I like.
copied from their announcement
(Company Registration Number: 200415164G)
(Incorporated in the Republic of Singapore)
(&ldquo
Company&rdquo )
PROPOSED DISPOSAL OF AN INDIRECT ASSOCIATED COMPANY
The Board of Directors of KOP Limited (the "
Company" , and together with its subsidiaries, the
&ldquo
Group&rdquo ) wishes to announce that its 25%-owned associated company, Epic Land Pte. Ltd. (&ldquo
Epic&rdquo )
has executed a sale and purchase agreement to dispose the entire paid-up share capital of Epic&rsquo s
wholly-owned subsidiary, Epic Land (19-2) Pte. Ltd. (&ldquo
Epic (19-2)&rdquo ) and the settlement of
shareholder&rsquo s loan to an unrelated third party for an aggregate consideration of S$16,666,977.60 (the
&ldquo
Proposed Disposal&rdquo ).
The aggregate consideration for the Proposed Disposal was arrived on a willing-buyer-willing-seller
basis, which has taken into account shareholder&rsquo s loan due to Epic, the cost of the property and the
prevailing market conditions.
No valuation was commissioned in respect of Epic (19-2). The unaudited net liability value of Epic
(19-2) as at 26 December 2014 was approximately S$86,593.46.
Upon completion of the Proposed Disposal, Epic (19-2) ceases to be an associated company of the
Company.
The Proposed Disposal is not expected to have any material impact on the net earnings per share or
the net tangible assets per share of the Group for the current financial year ending 30 April 2015.
None of the directors or substantial shareholders of the Company has any interest, direct or indirect,
in the aforesaid transaction save for their shareholdings in the Company.
BY ORDER OF THE BOARD
Ong Chih Ching
Executive Director and Group Chief Executive Officer
29 December 2014
This announcement has been prepared by the Company and its contents have been reviewed by the
Company&rsquo s sponsor, Hong Leong Finance Limited (the &ldquo
Sponsor&rdquo ), for compliance with the relevant
rules of the Singapore Exchange Securities Trading Limited (the &ldquo
SGX-ST&rdquo ). The Sponsor has not
independently verified the contents of this announcement.
This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes
no responsibility for the contents of this announcement, including the correctness of any of the
statements or opinions made or reports contained in this announcement.
The contact person for the Sponsor is Ms. Joan Ling, Senior Vice President, Head of Corporate
Finance, at 16 Raffles Quay, #40-01A Hong Leong Building, Singapore 048581, Telephone: (65)
6415 9886.
ytoh1688 ( Date: 11-May-2015 13:14) Posted:
go check on their investment in prudential towers
very lucrative
bgt 2316 psf....selling 2800-3200 psf
already 12% sold....even though they only released 1 floor for sale
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go check on their investment in prudential towers
very lucrative
bgt 2316 psf....selling 2800-3200 psf
already 12% sold....even though they only released 1 floor for sale
Still no news on winterland...dont know wan to tikam or not..lol
edwinjup ( Date: 04-Nov-2014 09:35) Posted:
R& R...u in Liao ...winter land should launch in early 2015....cool...cold....snow..lol
RoundRound ( Date: 01-Nov-2014 10:02) Posted:
Hahaha...sold off at 26c to 27c long ago. Think a good time to stock up such badly battered shares.
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For Immediate Release
PRESS RELEASE
KOP LIMITED SWINGS BACK INTO BLACK WITH S$39.2 MILLION NET PROFIT
RecordedaS$39.2millionNetProfitfor3QFY2015 RevenueincreasedtoS$5.6millionin3QFY2015
1&ldquo Gross Profit&rdquo is defined as the difference between &ldquo Revenue&rdquo and &ldquo Cost of sales&rdquo
2EPS of the Group for 3QFY2015 and 3QFY2014 has been computed based on a weighted average number of ordinary shares of 886,369,771 and 714,285,714 respectively
Singapore, 9 February 2015 &ndash KOP Limited, a Catalist-listed company with property and entertainment business divisions registered a surge in net profit of S$39.2 million for the third quarter of the financial year ended 31 March 2015 (&ldquo 3QFY2015&rdquo ) reversing the net loss of S$354,000 registered in the corresponding period in the previous financial year (&ldquo 3QFY2014&rdquo ).
Revenue increased by 21.5% on a year-on-year basis (&ldquo Yoy&rdquo ) to S$5.6 million in 3QFY2015 from S$4.6 million in 3QFY2014. The increase was mainly contributed from the hospitality and the entertainment business divisions. There was an increase in occupancy and revenue of the Group&rsquo s resort in Montigo, Nongsa, as well as from the profit contribution from Scorpio Group following its reverse acquisition on 6 May 2014.
&ldquo The increase in our revenue resonates very strongly with our focus on expanding our hospitality and entertainment arms,&rdquo said Ms. Ong Chih Ching, Executive Chairman and Executive Director of the Company. &ldquo Our hospitality business has remained profitable, particularly the Montigo brand of the resorts. We are looking forward to expanding our presence in the Indonesian market &ndash our next Montigo Resorts, Seminyak will be opening in 2016, and I believe that the hospitality arm of the Group will grow from strength to strength.&rdquo
Gross profits increased from S$2.5 million in 3QFY2014 to S$2.6 million in 3QFY2015. Overall, the profit after tax climbed to S$39.2 million in 3QFY2015 from a loss of S$354,000 in 3QFY2014. The increase was largely contributed from the gain on divesting of KOP Limited&rsquo s entire 39.9% stake in the Ritz-Carlton Residences following the redemption of the 2013 junior notes.
Accordingly, earnings per share rose to 4.50 cents in 3QFY2015 from a loss of 0.02 cents in 3QFY2014.
&ldquo The increase in our profits gives us greater confidence in our expansion plans to new markets, as well as by venturing into mixed development projects which incorporates a lifestyle component into the property business,&rdquo Ms. Ong Chih Ching added.
CEO Ong & Leny started to stalk up 1M shares each
R& R...u in Liao ...winter land should launch in early 2015....cool...cold....snow..lol
RoundRound ( Date: 01-Nov-2014 10:02) Posted:
Hahaha...sold off at 26c to 27c long ago. Think a good time to stock up such badly battered shares.
edwinjup ( Date: 01-Nov-2014 09:05) Posted:
| Bro...u still hold still darling....?? Recently i added some after seeing vol built up....around 16c....a far cry from the.placement of 28c or trading around 35c....tikam for a.cup of scott coffee... |
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yeah, just play when you are most comfortable bah ..
huat huat
edwinjup ( Date: 01-Nov-2014 11:03) Posted:
I ate 42 lots at 16c..lol yuuzoo interesting play..but up down too fast...my heart cannot take it...
RoundRound ( Date: 01-Nov-2014 10:49) Posted:
So did u eat up the 44 lots yesterday?.....hehe
Btw, I'm playing with Yuuzoo now, very interesting counter. Snatched some at well below 30c and sold off half my holding yesterday |
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I ate 42 lots at 16c..lol yuuzoo interesting play..but up down too fast...my heart cannot take it...
RoundRound ( Date: 01-Nov-2014 10:49) Posted:
So did u eat up the 44 lots yesterday?.....hehe
Btw, I'm playing with Yuuzoo now, very interesting counter. Snatched some at well below 30c and sold off half my holding yesterday
edwinjup ( Date: 01-Nov-2014 10:45) Posted:
| Great....should look into it since the A team han seng juan &lian beng ong phang hoo still inside....u are buying cheaper than them......lo |
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So did u eat up the 44 lots yesterday?.....hehe
Btw, I'm playing with Yuuzoo now, very interesting counter. Snatched some at well below 30c and sold off half my holding yesterday
edwinjup ( Date: 01-Nov-2014 10:45) Posted:
Great....should look into it since the A team han seng juan &lian beng ong phang hoo still inside....u are buying cheaper than them......lol
RoundRound ( Date: 01-Nov-2014 10:02) Posted:
Hahaha...sold off at 26c to 27c long ago. Think a good time to stock up such badly battered shares.
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Great....should look into it since the A team han seng juan &lian beng ong phang hoo still inside....u are buying cheaper than them......lol
RoundRound ( Date: 01-Nov-2014 10:02) Posted:
Hahaha...sold off at 26c to 27c long ago. Think a good time to stock up such badly battered shares.
edwinjup ( Date: 01-Nov-2014 09:05) Posted:
| Bro...u still hold still darling....?? Recently i added some after seeing vol built up....around 16c....a far cry from the.placement of 28c or trading around 35c....tikam for a.cup of scott coffee... |
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|
Hahaha...sold off at 26c to 27c long ago. Think a good time to stock up such badly battered shares.
edwinjup ( Date: 01-Nov-2014 09:05) Posted:
Bro...u still hold still darling....?? Recently i added some after seeing vol built up....around 16c....a far cry from the.placement of 28c or trading around 35c....tikam for a.cup of scott coffee....
RoundRound ( Date: 28-Aug-2014 15:47) Posted:
| Feel like K.O. (Knocked-Out liao) |
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Bro...u still hold still darling....?? Recently i added some after seeing vol built up....around 16c....a far cry from the.placement of 28c or trading around 35c....tikam for a.cup of scott coffee....
RoundRound ( Date: 28-Aug-2014 15:47) Posted:
| Feel like K.O. (Knocked-Out liao) |
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Spivvy,
You attend KOP Agm? Laksa good. First impression count. Depend on their Winterland project. More news expect to come out in the following months. I am quite ok with their explanation to restructure their entertainment business. It will take 1-2 years to see results. Anyway, the Group CEO is quite young and seem aware of risk-taking and aware of cost saving. KOP will move into the existing Scorpio and that should save them quite a sum. Someone told me it is mentioned in some news as the next " Oxley" , so hope for it. Will take a gamble and do more accumulation. Results coming soon in September.
Feel like K.O. (Knocked-Out liao)
Jonathan Lim is supposed to be the one to turn around this co but eventually cashed out as he couldnt become the largest shareholder. What a waste sia. Sell KOP la and put yur $ to adventus. JL is there.
Only thing good about this scorpio is their AGM laksa is dammmmn hell good. Went to tabao quite a lot of food this morning though its raining. shiok shiok.
turn up for their AGM and find out
Scopio East old business will be gone, think only CFO will remain behind to clean up unless they want to merge the remaining entertainment biz with KOP' s entertainment business but that will only remain as a auxiliary business as their main focus will be properties
Do you read anything KOP is restructuring. They are enlarging the business with the properties but still the entertainment business remain being stated as " Strategic" . The previous CEO of Scorpio, KO is in-charge and he cannot turn the business previously. This will become a drag on the performance in future. This issue must be clarified by the new BOD. Also there is not much news on their property development. Vested with some regret as I thought they will kill off the loss-making entertainment business.
Scopio East is gone.....so now KOP is restructuring their business ...scrap the old and keep the good and merge it with KOP exisiting business
Building was Scopio greatest asset (nxt to MRT) and KOP already taken 1st step in extending the lease
This is a 1st sign of better things to come with a new management
