Latest Forum Topics / Stamford Land Last:0.38 -- | Post Reply |
Time for Re Rating?
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Bumster
Member |
04-Jul-2007 21:56
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CHICAGO (MarketWatch) -- Blackstone Group said late Tuesday it will buy Hilton Hotels in a $26 billion deal that will add one of the largest U.S. hotel chains to the list of companies bought out by private-equity firms this year. full story at this link http://www.marketwatch.com/news/story/blackstone-buy-hilton-hotels-26/story.aspx?guid=%7B8070CEE9%2D986C%2D45C0%2D9314%2DE464D4AC6897%7D with private equity still so hungry , let's hope Mr Ow can demonstrate his unlocking magic again as he did so in Spore Ship and Cougar |
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peterlim888
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27-Jun-2007 08:41
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Reits are hot favourite now. It is a matter of time before it is converted. The value will then go up. Take a long term view. Vested (Just). |
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shplayer
Elite |
19-Jun-2007 22:32
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Based on the figures from the BT article, if the hotels are revalued, the NAV of Stamford Land should be between 95 cts to 110 cts. At today's closing of 66.5cts, this stock is trading between 30% to 40% discount to their 'true' NAV. As Victorian will say....another 'kantang' to be dug up? |
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esmiley
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19-Jun-2007 13:31
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Article from today's BT. Current nav is $0.49 so P/B about 1.3x and eps $0.0386 so PE ab 16. Declared $0.03 div, this stock has much to go! A nice, Reit sheen for Stamford Land By CONRAD RAJ SEVEN years after he first decoupled his Hai Sun Hup Group into Singapore Shipping Corporation (SSC) and Stamford Land Corporation, and less than a year after decoupling SSC's logistics operations, Cougar Logistics Corporation, former tongkang operator Ow Chio Kiat is feeling itchy again. He recently told shareholders he was thinking of putting all his hotels into a real estate investment trust (Reit) to bring about better shareholder value. Mr Ow has proved more than once that he is able to unlock shareholder value. Before he separated Hai Sun Hup in 2000 into its marine-related businesses under SSC and property under Today, the combined market capitalisation of the three listed companies is over $800 million, and this year they distributed over $100 million to shareholders. But if you ask Mr Ow, he will say that the group is still undervalued. Not true value The hotels in The eight hotels - five purchased in the mid-1990s and the remaining three in 2000 - were bought for a total consideration of about A$480 million. Their book value after depreciation is now about A$388 million (S$504 million) and still heading south. In a Reit, properties are revalued annually and the same hotels could now be worth A$700-800 million, allowing unit holders a better grasp of their assets. Putting aside their capital appreciation, shareholders will still reap significant gains from the appreciation of the Aussie dollar, which was around S$1.05 in 2000 and is now hovering around S$1.30. However, for shareholders to gain the full benefits of a Reit, Although disappointed with the outcome of its initial foray into the local property market, For At present, Choice site development It is now developing another choice site near The Rocks - In And in the hot office market of Also, it is still looking for other choice development sites in the key cities of |
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will040
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19-Jun-2007 09:33
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Tea must drink while its is hot. Can't wait. |
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will040
Member |
19-Jun-2007 09:09
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The cup is formed, tea is pouring in; up by 6 cents with Vol of 4 mil +ve. |
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will040
Member |
14-Jun-2007 11:15
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Making a U-turn to form a 'CUP' to give some tea to drink??? |
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shplayer
Elite |
30-May-2007 17:13
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Ref my post of 29 May, the expected completion date of the project in Perth is end 2009 or beginning 2010. |
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xmen2102
Member |
30-May-2007 13:05
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agreed that div is disappointing.........after the first two co Mr Ow owns declaring 12 and 7 cents div....... having said that i still have confidence in this counter.......with steady growth in sales and profits........ best thing is the increasing value of its property in AZ.......... vested since Oct 05..... |
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shplayer
Elite |
29-May-2007 07:40
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The Hotel business is chugging along nicely. FY2008 should turn in better than FY 2007 because in FY2007 the Auckland hotel was closed for renovation for about 5 months. As for Properties, having expensed the sales and marketing costs in 4Q, we should see better margins from the sale of the remaining 22 units in Stamford Marque, Stamford on Albert (Auckland) and Gloucester Street (The ROCK). However, there is a little known development that hardly had a mention in the company's announcements or website....and that is a commercial building within the CBD in Perth at St. George's Terrace. Total built up area approx 14,000 sq m. Construction will begin 2007 and completion end 2010. As we all know, property prices in Perth has been shooting through the roof. Still vested. |
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jsphnteo
Member |
29-May-2007 07:16
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I m indeed a bit disappointed by the results & dividends paid out..... Nevertheless, I m still supporting Stamfordland... Read somewhere in the Edge that target price is 84 cents... Good luck to Blue Box & myself.... |
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bluebox
Member |
28-May-2007 20:52
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4Q Losses could be due to the following reasons: 1) one-off charge to the expense incurred for the remaining 22 units of Stamforad Marque 2) pre-commencement expenses for Auckland Apartments. Would say is a moderated set of P&L. Strong Cashflow coupled with strong demand for hotels by institutional investors all over the world. Bought somemore today. Wish me luck! Cheers! |
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shplayer
Elite |
27-May-2007 10:53
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FY 07 result came in below expectation......mainly due to disappointing performance in the Properties division in 4Q. eps - 3.86c NAV - 49 c Divvy - 3.0 c less tax....net 2.46c The problem with the Propertiy division is as follows: PROPERTY 3Q 3Q YTD 4Q FY YTD Revenue 72,767 73,463 13,638 87,101 Operating Profit 14,270 14,243 --2,0582,05 12,185 In the 4Q, company sold 11 more units of luxury apartment at the Stamford Marque. Whilst revenue increased in FY07, operating profit decreased.........implying they incurred a loss in the sale of the 11 apartments. Appreciate forumer's views on what could have possibly caused this. |
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rickytan
Veteran |
25-May-2007 08:59
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Thanks Shplayer for enlighting. Yeah, confused already by all these similar names. "Pai say"..... |
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shplayer
Elite |
24-May-2007 22:53
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rickytan, please note that Courage Marine is not part of Chmn Ow's stable of companies. Courage Marine, with YE 31 Dec 2006 already xd. Couger Logistic, together with Sp Ship and Stamford Land are part of Ow's stable of companies....all of which has YE on 31 Mar 2007. |
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rickytan
Veteran |
24-May-2007 21:31
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Thank you Shplayer for the good news. I am also vested in Courage (now after knowing the total divy of 7 cents, a bit regret didnt buy more :) |
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shplayer
Elite |
24-May-2007 17:42
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23 May, Sp Ship reported FY 07 results First n Final divvy 3.0 c TE, Special divvy 9.0 c TE.....Total 12.0 c TE 24 May, Cougar Logistic FY 07 results First n Final divvy 2.0 c TE, Special divvy 5.0 c TE.....Total 7.0 c TE Tomorrow, Stamford Land will announce results.........waiting to see what goodies he wil have in store for shareholders |
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choohian
Senior |
23-May-2007 08:48
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jessie. you good man. Congrats. |
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shplayer
Elite |
23-May-2007 07:42
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jessie, Glad you made $$$$. I accumulated more at the 55c range. Will probably sell this batch when FY07 result is announced and keep my core holdings for awhile longer....i.e. if results is within my expectation. |
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rayphua
Member |
22-May-2007 23:49
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Contra play is dangerous unless you're good at tape reading. Anyway it was a good gain for you and it at least paid for your losses. Perhaps you'll find another counter soon from the recommendation of good folks in this forum to make more gains soon in the near future. |
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