cheong wee,

couldn't agree with you less. Benefited from singapore ship long ago when they sold their ships & declared massive divi.........some decent trading gains then too during the run up. Looks like Mr Ow repeating an encore of hat tricks with stamford land with the free valuation of his hotels. shplayer, tks for the intro after such a long time away from stocks.

Yes Mr Ow definitely knows how to unlock shareholder wealth.......

I am sure another offer must have came in ...thats why SL reject the extension of this current offer......

base on this current offer, and staying on the pessimistic side......the offer of $1.05Billion less 10%.....= 945Million......

minus maybe 150Million working capital for the development business....

SL will have cash hog of 795Million.......about 92 cents / share to be returned to shareholders......

even if on the veri pessimistic side ...no sales went thru......

NBV of hotel business is 450Million under value which work out to be about to be 0.52 / share add to NAV of 0.49...share of SL should be worth eaisly > $1.......

vested in sl years back and accumulating along the way........

have thot that Mr Ow will go into REIT...but who knows he is into selling his hotel business......

shplayer      ( Date: 25-Mar-2008 07:40) Posted: Report in BT today........looks like there should be another upward push to SLC price today.    Published March 25, 2008 Waking up to the value of Stamford Land   By CONRAD RAJ   SAVVY investors appear to have begun to recognise that mainboard-listed Stamford Land is a very much undervalued stock, as the price of its shares surged 17 per cent yesterday to 52.5 cents apiece. Earlier, they had been traded to a high of 55.5 cents a share.   Stamford's hotels in Sydney, Melbourne, Adelaide and Brisbane are among the best in Australia and have won numerous accolades there and from abroad. This followed its announcement last Thursday that it had terminated an exclusive agreement with a prospective buyer who had made an unsolicited offer of A$850 million (S$1.06 billion) for the group's portfolio of eight hotels - seven in Australia's key cities and one in Auckland, New Zealand. It did not name the buyer but said it was a 'substantial public group with a diversified international portfolio of investment and residential properties and hotels'. Stamford said it had entered into an exclusive agreement with the prospective buyer 'as the offer of A$850 million was at an acceptable valuation and offered an option to unlock shareholders' value'. Yet at the same time Stamford said it was not keen to sell and had demanded an 'unusual and onerous non-refundable deposit' of A$1.3 million. Its founder and single largest shareholder Ow Chio Kiat explained his reluctance to part with the hotels: 'I feel very passionate about my hotels because I chose and built the portfolio up myself since 1994.' The company also noted that: 'The hotel portfolio with a total net book value of approximately A$382 million, has always been the Group's core business, producing a steady stream of recurring income. Due to the high and continually rising cost of hotel development in Australia and New Zealand, the Group will not face much competition as there is unlikely to be an oversupply of room stock in the foreseeable future.' The hotels in Sydney, Melbourne, Adelaide, Brisbane and Auckland are among the best in Australia and have won numerous accolades there and from abroad. The hotels - five purchased in the mid-1990s and the remaining three in 2000 - were bought for a total consideration of about A$480 million. Yet, because of strange accounting rules, shareholders cannot really comprehend their true worth, and as they have to be depreciated annually, their book value is still heading south. But Mr Ow, who started life as a bumboat operator, seems to be in no hurry to sell as there appears to be no shortage of suitors. The company has disclosed that it has received 'approaches from other parties for the purchase of the Group's hotel portfolio'. According to one observer of the stock, Stamford's rooms in the books are valued at about A$237,000. By comparison, the Orchard Fund recently purchased the Diamant Hotel in Sydney at a cost of about A$390,000 a room, while the Sheraton Noosa Hotel near the Gold Coast went to other buyers for A$535,000 a room, and the Park Hyatt Sydney was sold at a whopping A$1.25 million a room. Mr Ow has also been talking of placing the hotels in a real estate investment trust (Reit), where properties are revalued annually. The company also has a profitable property development arm which is into high-end residences. Commenting on its property development arm, which leverages on the Stamford brand name and is not part of the recently proposed sale, the company said: 'This aspect of the development and sale of luxury apartments has done well and will be further expanded upon. Currently, the property development portfolio includes The Stamford Marque in Sydney; The Stamford Residences and The Reynell Terraces in The Rocks, Sydney; The Stamford Residences in Auckland; and a commercial development in Perth.' At the price ascribed by the just- snubbed buyer of the hotels, net of long-term debts of about $314 million, the company, which has a cash hoard of over $70 million, would have had $800 million in cash or about 94 cents a share. The property development arm is said to be worth about another 20 cents a share, giving the company a total value of about $1.14 a share. Yet, despite yesterday's price spike, the shares were going for less than 56 cents each, and at the closing price of 52.5 cents, Stamford was worth only just over $450 million. A bargain, it appears.

 OCK made the annoucement on 20th March when the Exclusive Deal has lapsed on 7th March....

Today's volume is good.

Hopefully, BBs will start paying attention to this counter.

Current share prices still way below potential NA V of >$1.

If the volume continues to hold over the next few weeks, I'm quite sure this counter will shoot pass the $1 price.

Vested