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better not.....after 3 years still will stagnant....
helloisme ( Date: 09-Jul-2021 14:19) Posted:
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OUE posts S$30.1m H1 net profit, reversing year-ago loss even as revenue is halved
PROPERTY developer OUE recorded a S$30.1 million net profit for the six months ended June, reversing the year-ago loss of S$207.2 million. The improvement has been attributed to the absence of the fair-value loss recognised on the US Bank Tower last year.
The company proposed an interim dividend of 1 Singapore cent per share, to be paid on Sept 23. The sweetener comes even as OUE' s revenue fell by 49.5 per cent to S$152 million, with lower contributions across most divisions.
Following the divestment of the US Bank Tower and the partial divestment of OUE Bayfront, OUE Tower and OUE Link, revenue from the investment properties division decreased to S$105.2 million in H1, down from $139.1 million a year ago.
Meanwhile, revenue for the hospitality division fell by S$18 million to S$25.8 million, due to continued travel restrictions and other pandemic movement curbs in Singapore.
The development properties division recorded only S$0.2 million in revenue, due to the absence of completion of OUE Twin Peaks units sold under deferred payment schemes in H1. Instead, rental income was derived from unsold units, which continue to be marketed.
There were some bright spots. H1 revenue from the healthcare segment held steady at S$14.7 million. The consumer division posted S$6.1 million in revenue, up from S$5 million a year ago, as F& B business picked up during the relaxation of dine-in restrictions.
OUE' s latest financial results come as the company has made a number of strategic moves, besides the property divestments. In March, it had acquired 6 per cent of OUE Lippo Healthcare. In July, OUE' s joint venture unit, Auric Digital Retail, acquired about 32 per cent of Indonesia-listed Matahari Department Store, becoming its single-largest shareholder.
Looking ahead, OUE is set to rebrand the Mandarin Orchard Singapore to Hilton Singapore Orchard, and is currently executing the phased asset enhancement works. The launch is anticipated in early-2022.
OUE' s total borrowings stand at S$2.6 billion as of end-June, down from S$3.5 billion in December last year. The company said: " The group has sufficient liquidity to meet its near-term debt obligations and operational needs. It will also continue to exercise prudence in managing its non-essential capital and operating expenditure as the prolonged pandemic is still impacting businesses and economies worldwide.&rdquo
OUE posts S$30.1m H1 net profit, reversing year-ago loss even as revenue is halved
Property developer OUE recorded a S$30.1 million net profit for the six months ended June, reversing the year-ago loss of S$207.2 million. The improvement has been attributed to the absence of the fair-value loss recognised on the US Bank Tower last year.The company proposed an interim dividend of 1 Singapore cent per share, to be paid on Sept 23. The sweetener comes even as OUE' s revenue fell by 49.5 per cent to S$152 million, with lower contributions across most divisions.
Following the divestment of the US Bank Tower and the partial divestment of OUE Bayfront, OUE Tower and OUE Link, revenue from the investment properties division decreased to S$105.2 million in H1, down from $139.1 million a year ago.
Meanwhile, revenue for the hospitality division fell by S$18 million to S$25.8 million, due to continued travel restrictions and other pandemic movement curbs in Singapore.
The development properties division recorded only S$0.2 million in revenue, due to the absence of completion of OUE Twin Peaks units sold under deferred payment schemes in H1. Instead, rental income was derived from unsold units, which continue to be marketed.
There were some bright spots. H1 revenue from the healthcare segment held steady at S$14.7 million. The consumer division posted S$6.1 million in revenue, up from S$5 million a year ago, as F& B business picked up during the relaxation of dine-in restrictions.
OUE' s latest financial results come as the company has made a number of strategic moves, besides the property divestments. In March, it had acquired 6 per cent of OUE Lippo Healthcare. In July, OUE' s joint venture unit, Auric Digital Retail, acquired about 32 per cent of Indonesia-listed Matahari Department Store, becoming its single-largest shareholder.
Looking ahead, OUE is set to rebrand the Mandarin Orchard Singapore to Hilton Singapore Orchard, and is currently executing the phased asset enhancement works. The launch is anticipated in early-2022.
OUE' s total borrowings stand at S$2.6 billion as of end-June, down from S$3.5 billion in December last year. The company said: " The group has sufficient liquidity to meet its near-term debt obligations and operational needs. It will also continue to exercise prudence in managing its non-essential capital and operating expenditure as the prolonged pandemic is still impacting businesses and economies worldwide."
Shares of OUE closed at S$1.30 on Tuesday, up 2.4 per cent.
OUE, Auric complete acquisition of controlling stake in Indonesia retailer Matahari with 32% stake
OUE, along with joint venture partner Auric Capital, have completed their acquisition of a controlling stake in Indonesia-listed Matahari Department Store, collectively holding a 32% stake as of July 15. This makes it the single largest shareholder of Matahari.
The companies, via joint venture firm Auric Digital Retail (ADRPL) had launched a voluntary tender offer (VTO) in early May to acquire up to 40% of the total issued and fully paid-up shares of Indonesia-listed Matahari Department Store at an offer price of IDR1,530 (14 cents) per share.
ADRPL is 60:40 owned by Auric Capital and OUE.
ADRPL had also entered into a sale and purchase agreement with Greater Universal and OUE Investments - subsidiaries of Auric Capital and OUE respectively - to acquire all Matahari shares owned by the two firms, representing 5.32% and 4.8% stakes respectively.
In a filing to SGX on July 15, OUE disclosed that ADRPL received valid acceptances of 21.9% for the VTO. Combined with the purchase of shares from Greater Universal and OUE, ADRPL holds 32% in Matahari.
Shares in OUE closed at $1.30 on July 14.
Is this one worth to collect as long term investment ?
What the good news?
Wake up leh.......
Property not in play ...look at QLB sour look...
taxiuncle ( Date: 26-May-2021 23:06) Posted:
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Truly under value......hopes will run up again....
OUE in joint venture to acquire controlling stake in Indonesian retailer Matahari
PROPERTY developer OUE: LJ3 -1.4% on Wednesday morning announced it had established a joint venture (JV) company with Auric Bespoke I - a wholly-owned subsidiary of Auric Capital Holdings - with the intention of acquiring up to a 40 per cent stake in Jakarta-listed PT Matahari Department Store Tbk (Matahari).
Named Auric Digital Retail, the JV firm will be 60 per cent owned by Auric Bespoke I, with the remaining 40 per cent stake held by OUE' s subsidiary OUE Retail Holdings.
The acquisition will be made by way of a voluntary tender offer for Matahari for a consideration of 1,530 rupiah (S$0.14) per offer share.
This is to be funded via a S$95 million facility agreement granted by CIMB' s Singapore branch - as well as shareholder loans of up to an aggregate principal amount of S$150 million, made by OUE and Auric Bespoke I to the JV company.
As part of the deal, Auric Digital Retail has also agreed to acquire a 5.32 per cent stake in Greater Universal Limited (GUL) as well as a 4.8 per cent interest in OUE Investments after the voluntary offer is made.
GUL and OUE Investments are wholly-owned subsidiaries of Auric Capital and OUE, respectively.
Auric Digital Retail will hold up to 50.12 per cent of Matahari and thus become its controlling shareholder upon completion of the abovementioned acquisitions.
In its filing, OUE notes that Matahari' s shares have underperformed those of its peers on a five-year basis, despite its market leadership position with a unique portfolio of assets.
" (Auric Digital Retail) recognises the challenges in the Indonesian large format retail industry and the threat from competition, but believes that (Auric Bespoke I and OUE Retail) possess sufficient experience and expertise in the consumer, retail and digital sectors and can work with management of (Matahari) to develop a refreshed strategy and improve the prospects of (Matahari' s) business," said OUE.
Highlighting that Matahari has " generally recorded healthy positive cash flows" prior to Covid-19, OUE said it believes its proposed acquisitions through Auric Digital Retail will allow it to expand the group' s consumer division footprint into the growth market of Indonesia.
Start buying shopping malls share price drop.
Standard.
taxiuncle ( Date: 21-Apr-2021 14:05) Posted:
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Pump n dump...sigh
Not even 1 day ..very suprising ....
saturn80 ( Date: 20-Apr-2021 17:07) Posted:
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Never knew their bull run so short.
Haiz
Haiz
T+3 over ?
Next week hope got some movement
Next week hope got some movement
$1.70 soon!!!
Get ready!!
Get ready!!
helloisme ( Date: 15-Apr-2021 17:10) Posted:
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look like Some weak holding power traders bought on 1st day hoping to get some kopi $ are selling at some lost ...
Will this one continue to go up after those weak power traders finish selling ?
Will this one continue to go up after those weak power traders finish selling ?
no brew but kena massive selldown..oh well
Nothing new from the article. Probably the writer came to this page to get some inspiration, thanks ytthong1951 for the sharing.
" Fuelled by comments on some investment chat sites......"
Dont think 1 article can caused a big volume buy up....
People start to see the hidden value......
Something is brewing.......!
" Fuelled by comments on some investment chat sites......"
Dont think 1 article can caused a big volume buy up....
People start to see the hidden value......
Something is brewing.......!
ytthong1951 ( Date: 09-Apr-2021 14:19) Posted:
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