Latest Forum Topics / GRP Last:0.075 -0.005 | Post Reply |
Any views?
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allantanhc
Veteran |
23-Oct-2006 10:24
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I think the report originated from OCBC. Agree with Singaporegal that it is better to avoid such illiquid counters. |
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singaporegal
Supreme |
23-Oct-2006 10:18
Yells: "Female TA nut" |
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Very very very low volume counter... if buy must hold long long |
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knightrider
Elite |
23-Oct-2006 09:19
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This is last friday's stock pick from Business Times ! I hope by pasting here will not have any matters concern on intellectual properties issues ! Just strictly for viewing and not for circulating !!! GRP has recently announced positive and concrete developments on the proposed divestment of its Bukit Batok Industrial Building (BBIB). The purchasing party has signed a letter of intent with GRP, whereby the deal is structured into a sales and leaseback agreement (SLA). GRP will be the master tenant for BBIB for a period of three years under the SLA, and will sub-lease the building space to the current tenants. Note that BBIB is currently enjoying a high occupancy rate of 99.9 per cent. At the aggregate cash consideration of S$18 million for the proposed sale of BBIB, the revaluation surplus is in the region of S$6 million, or about 4.3 cents per share. This is higher than our previous revaluation surplus estimate of about 3.5 cents per share, based on the assumption that the selling price is at the original property value of S$17 million, versus a book value of S$12 million. The purchasing party is expected to complete its due diligence on BBIB when its exclusivity period lapses on Nov 15. If the results of due diligence are positive, the proposed SLA will be completed before end-April 2007. GRP has generated a staggering 186 per cent capital gain to investors in slightly more than a year, after the upgrade of our rating on GRP to a 'buy' in late August 2005. The share price has since risen from 7 cents per share to the current 20 cents. Conservative investors sitting on this tidy profit may want to realise their capital gains at this juncture, as the final sale of BBIB is still subjected to typical risks: due diligence from the purchasing party, and approvals from the various authorities. Our previous fair value estimate of S$0.19 conservatively assumes that GRP will only pay out the revaluation surplus from the possible sale of BBIB. Given the recent concrete update on the proposed sale of BBIB, and based on the assumption that the proposed sale of BBIB will be successful, we now estimate the net cash per share available for distribution from this deal to range from 4.7 cents to 11.9 cents. We have raised our fair value estimate to S$0.24, assuming that GRP will maintain a marginal post-distribution net debt position. Maintain 'buy'. |
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terencefok
Master |
23-Oct-2006 09:04
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Hi everyone, does anyone have any views on this stock? Heard that they could be paying between 4.7 to 11.9 cents |
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