I went in small lots this morning at 4.62.

rodney301      ( Date: 15-Jul-2009 10:51) Posted: most of the trade occurred at between $4.61 to $4.63. wonder if it will continue the upward trend later in the day......

The valuation was on 31st December 2008. a total value of around $4.39 billion. With other interests, NAPV is around $9.44 for the Group. This counter did not issue any rights and the borrowings were relatively low as compared to Kepland (correct me if I am wrong as I just read the annual reports). Occupancy at office areas were close to 100% as stated in the annual report 2008 with around 700,000 square feet of office leases renewed last year. (this is good as the downfall is close to march this year). The Group took over Pan Pacific Hotels in early 2007 as stated in annual report 2008. So this group practically has everything from retail rentals, office rentals to property in Marina Bayfront and in Beijing, making it something similar to a REIT which has all three major property sectors in office, retail and hospitality.

yesterday, the Wee Investments(with group chairman Dr. Wee Cho Yaw) purchased 354,000 units of Haw Par Corp at around $4.60. Haw Paw Corp in turn has 40% stake in UIC. UIC has over 50% stake in SP land. Thus, Haw Par has at least 20% deemed interest in SP land. Recently, UOL, the property arm of Dr Wee's UOB group made huge daily buy-backs of the UOL shares in the past few days amounting to over $10 million of shares. Could it be that Dr Wee is still some greenshoots in the property sector from the buybacks of the shares??? Well, I certainly hope that SP land will exercise its buy-backs soon.  

Andrew, even if it drops to over $3.00 which is quite impossible, I will just average down. This is a counter which I will hold for long term and I will not release it for anything below $10.

Andrew      ( Date: 14-Jul-2009 20:56) Posted: Of all the net asset, majority comes from Investment Properties.....4B.....Asset like Marina Sq, Gateway is already 20 year old......I really don't know if it is due for the 30 years lease?? When was this properties valuated ?? Did Ah Wee offer a takeover @ 3+....even lower.       rodney301      ( Date: 14-Jul-2009 20:13) Posted: with a Group NAPV of around $9.44, I can hardly believe why this counter is trading at only around $4.50. is it being neglected by investors??? any opinion???

Of all the net asset, majority comes from Investment Properties.....4B.....Asset like Marina Sq, Gateway is already 20 year old......I really don't know if it is due for the 30 years lease??

When was this properties valuated ?? Did Ah Wee offer a takeover @ 3+....even lower.

rodney301      ( Date: 14-Jul-2009 20:13) Posted: with a Group NAPV of around $9.44, I can hardly believe why this counter is trading at only around $4.50. is it being neglected by investors??? any opinion???

FY08 results:

Sland-NLAT, -117.444m(20cts???), Kland, NPAT,227.669m(div 8cts), Cland, 1260.113m(div,7cts)

Why local like to go Changi Vilge for nasi lemak????

Likewise, today traded vol for:

Cland,66.327k; Kland, 17.153k, poor Sland, 265lt. Moreover, d knee jerking news of failure of mandatory uncond cash offer by UOL whom UIC, 72.4% stake offer of 3.57 per share. No interest liao. 1Q result is coming soon, wat expect on ppties at current market sentiment????

PS. Pse note that if MAS firms on devalue of S dollar in Apr, d above would be affected as well, esp those got wider footprint of ppties abroad, which were quoted in USG.