tag:blogger.com,1999:blog-7944902213075756335.post8196527702809172785..comments2024-03-29T19:12:08.223+08:00Comments on A Singaporean Stocks Investor (ASSI): OUE Limited: A nibble.AK71http://www.blogger.com/profile/16832145412062954289noreply@blogger.comBlogger34125tag:blogger.com,1999:blog-7944902213075756335.post-19254288423610520592019-02-28T22:48:01.592+08:002019-02-28T22:48:01.592+08:00Hi RF,
I believe that OUE is very undervalued and...Hi RF,<br /><br />I believe that OUE is very undervalued and that patience will be rewarded.<br /><br />Crossing fingers. ;)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-70914855781942456062019-02-27T14:11:03.290+08:002019-02-27T14:11:03.290+08:00Hi Ak,
Congrat, OUE paying div of $0.12
Long wait...Hi Ak,<br />Congrat, OUE paying div of $0.12 <br />Long wait for this special div when they begin to unlock value by selling assets.<br />Next will be the banking tower in US.Roaming fighterhttps://www.blogger.com/profile/15050719615132926825noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-49542074966743705422015-08-24T15:57:03.056+08:002015-08-24T15:57:03.056+08:00BUY order for OUE Limited filled at $1.71 a share....BUY order for OUE Limited filled at $1.71 a share.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-61304194956048968052015-08-17T14:55:07.296+08:002015-08-17T14:55:07.296+08:00My reply to a reader's email today:
Hi Ryan,
...My reply to a reader's email today:<br /><br /><i>Hi Ryan,<br /><br /> "Actually, if we were to factor in the debt on their book, which does not<br /> get reduced alongside the impairment, then a far smaller impairment would<br /> bring the stock down to 1.0 P/B."<br /><br /> Very good observation on OUE. <br /><br /> Thanks for sharing. Appreciate it. :)<br /><br /> Best wishes,<brAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-28119240134009842042015-08-17T14:52:36.874+08:002015-08-17T14:52:36.874+08:00Hi AB,
There are ways value could be unlocked but...Hi AB,<br /><br />There are ways value could be unlocked but how are they going to do it? Your guess is as good as mine. I see OUE Limited selling their assets to OUE C-REIT and OUE Hospitality Trust as ways of unlocking value for OUE Limited's shareholders. I would like to see more dividends declared in future. :)<br /><br />Investing in OUE Limited and waiting for possibly better outcomes AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-61023359921309562772015-08-17T14:31:34.481+08:002015-08-17T14:31:34.481+08:00Hi AK,
You've mentioned about the company unl...Hi AK,<br /><br />You've mentioned about the company unlocking its value. What are the ways they could be doing it, should they do so?<br /><br />1. Privatise i.e. delist<br />2. Returning value via lump sum dividends<br />3. or ???<br /><br />It looks very undervalued but dividends are low.ABhttps://www.blogger.com/profile/11704794544294008362noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-27026280127591532242015-08-15T20:03:49.945+08:002015-08-15T20:03:49.945+08:00Hi Wei Xiong,
It is hard to say what will happen ...Hi Wei Xiong,<br /><br />It is hard to say what will happen in the future but OUE Limited's stock is dreadfully undervalued. No matter how we slice it, unless we think that all their assets are going to take a 50% impairment, there is no reason for the stock to trade at such low prices. I am looking to accumulate on further weakness. <br /><br />As for Accordia Golf Trust, I believe Mr. AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-37430903415233121772015-08-15T17:50:41.076+08:002015-08-15T17:50:41.076+08:00Thanks AK for the update! The fair-value losses ho...Thanks AK for the update! The fair-value losses hopefully will not be recurring. Did not realise OUE was dabbling with equities.<br /><br />Anyway, results for Accordia Golf Trust is out too! Mr Market seems to like the results with a small jump in price yesterday.wxhttps://www.blogger.com/profile/13331225421682542310noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-10175698724972222262015-08-15T00:49:06.804+08:002015-08-15T00:49:06.804+08:00OUE Limited swung into the red in the second quart...<i>OUE Limited swung into the red in the second quarter ended June 30, 2015, with a net loss of S$16.28 million against a net profit of S$4.43 million a year ago, owing to S$20.5 million of losses mainly arising from the fair value of its investment in a mutual fund.<br /><br />But OUE stressed that these fair-value losses are non-cash items.<br /><br />Excluding these losses, the group's AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-19591084978613363782015-06-21T09:56:14.440+08:002015-06-21T09:56:14.440+08:00From Solace:
"Believe ppl who miss OUE at $2...From Solace:<br /><br />"Believe ppl who miss OUE at $2.01 recently would have noticed the stock slipping $1.94 recently. Despite many asset recycle exercise through the listing of two REITs, and continue injection of property into the REITs, mr market has not been too excited about them.... I see the move by OUE to be very positive and find the stock to be getting more and more undervalued.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-20170238438426847302015-06-20T22:48:16.005+08:002015-06-20T22:48:16.005+08:00"The group remains focused on asset enhanceme..."The group remains focused on asset enhancement initiatives and active lease management at OUE Downtown and US Bank Tower, which has achieved committed occupancy rates of 89.7% and 79.6%, respectively. The 10-storey extension (CPEX) to Crowne Plaza Changi Airport is expected to be completed by end of 2015 (and no later than June 2016) and will add 243 guestrooms to the development for a AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-56245261948659630072015-06-11T13:18:32.619+08:002015-06-11T13:18:32.619+08:00Hi Gary,
With its stock trading at such a big dis...Hi Gary,<br /><br />With its stock trading at such a big discount to NAV, one way to realise value for OUE Limited is to keep selling its properties to OUE C-REIT and OUE H-Trust. ;)<br /><br />I was quite happy to add more to my long position when the stock retested $2.01 a share recently. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-74520157995028485052015-06-11T13:08:28.663+08:002015-06-11T13:08:28.663+08:00This should be good news for OUE LimitedThis should be good news for OUE LimitedGaryhttps://www.blogger.com/profile/16720789927377358171noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-34153153395492195292015-06-11T12:42:55.026+08:002015-06-11T12:42:55.026+08:00"OUE Commercial Reit (OUE C-Reit) is acquirin..."OUE Commercial Reit (OUE C-Reit) is acquiring a majority stake in mixed-use development One Raffles Place from its sponsor OUE Limited for S$1-1.1 billion at an estimated S$2,382 per square foot (psf) of net lettable area."<br /><br />Source:<br />http://www.businesstimes.com.sg/stocks/oue-c-reit-to-buy-majority-stake-in-one-raffles-place-for-s1bAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-72124448837530213952015-02-14T10:04:46.805+08:002015-02-14T10:04:46.805+08:00During the year under review, the Group's hosp...During the year under review, the Group's hospitality division registered revenue of S$210.6 million as compared to S$229.6 million in previous year. The decreased of 8.2% was due mainly to the absence of contributions from two disposed China hotels.<br /><br />Revenue generated from the Group's property investment division increased by S$19.6 million to S$157.8 million after the AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-16171804564347183652014-11-29T23:37:06.038+08:002014-11-29T23:37:06.038+08:00Hi MW,
I believe that Crowne Plaza Changi Airport...Hi MW,<br /><br />I believe that Crowne Plaza Changi Airport is valued at cost in their books. Of course, with the planned divestment, there will be a fair value gain. I read this somewhere but I cannot remember exactly where now.<br /><br />You are the expert in accounting, not me. So, I would appreciate any enlightening comment from you in this area, if you should have some time to look at AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-48318349097579451752014-11-29T22:26:17.096+08:002014-11-29T22:26:17.096+08:00Hi AK71,
Oh, I had thought that if a Company had ...Hi AK71,<br /><br />Oh, I had thought that if a Company had properties, they should be valued at revalued amounts (i.e. at market value)? If not, why are they still recorded at historical cost on the Balance Sheet?<br /><br />If the property has been revalued, then the $4.04 would be the RNAV and not the NAV. So I am a little confused as to which it is. Thanks!<br /><br />Regards,<br />MusicwhizMusicwhizhttps://www.blogger.com/profile/10950754156386935254noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-10252650383828922392014-11-29T13:43:39.847+08:002014-11-29T13:43:39.847+08:00Hi MW,
Good to see you. :)
$4.04 is the NAV/shar...Hi MW,<br /><br />Good to see you. :)<br /><br />$4.04 is the NAV/share and not the RNAV, I believe, although some of OUE's properties could be worth more than what is recorded in the books.AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-79381825125885586782014-11-29T13:35:13.405+08:002014-11-29T13:35:13.405+08:00How reliable is RNAV in determining margin of safe...How reliable is RNAV in determining margin of safety when investing in real estate companies? Thanks.Musicwhizhttps://www.blogger.com/profile/10950754156386935254noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-84087405148955122532014-11-29T10:58:57.390+08:002014-11-29T10:58:57.390+08:00OUE Hospitality Trust (OUE H-Trust), which owns Ma...OUE Hospitality Trust (OUE H-Trust), which owns Mandarin Orchard Singapore and the adjoining Mandarin Gallery, will buy Crowne Plaza Changi Airport and the Crowne Plaza Changi Airport Extension for a total of S$495 million.<br /><br />It said on Friday (Nov 28) that conditional agreements have been made to acquire Crowne Plaza Changi Airport for S$290 million, as well as the extension for anotherAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-82002868956414898522014-10-16T11:31:39.917+08:002014-10-16T11:31:39.917+08:00Hi dorshii,
Actually, I pray for the situation to...Hi dorshii,<br /><br />Actually, I pray for the situation to come under control soon. <br /><br />Although I agree that the best time to buy assets is when there is blood in the streets, I rather that the world be spared the terrors of the Ebola.<br /><br />I don't know what is going to happen in the near future but I will just have to stick to my plan and act accordingly.<br />AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-44901671915176857692014-10-16T11:13:19.425+08:002014-10-16T11:13:19.425+08:00Hi AK71:)
I think it will get a lot worse before ...Hi AK71:)<br /><br />I think it will get a lot worse before it gets better. All the major US networks are covering Ebola continually for the last few days. FEAR is at their door-steps. US was spared SARS, which has a lower mortality rate.<br /><br />The current Ebola is of the Zaire strain, which has a upper mortality rate of 90%.. Having regard to the contest between Federal oversight and local Anonymoushttps://www.blogger.com/profile/11641636687117791898noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-26271609371410484102014-10-15T14:42:09.167+08:002014-10-15T14:42:09.167+08:00Hi Dorshii,
Sounds like great material for a horr...Hi Dorshii,<br /><br />Sounds like great material for a horror movie of epic proportion! -.-"<br /><br />Let us pray that the situation will be under control soon. I still remember how bad SARS was for Singapore. :(AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-37070351309432783932014-10-15T14:23:56.225+08:002014-10-15T14:23:56.225+08:00"Vard has been facing problems with its Brazi..."Vard has been facing problems with its Brazilian yard for some time now. In particular, start up costs have over run for the past few quarters at its Brazilian yards, Niterói. and Promar. Things seemed to have improved recently particularly for Promar. However, with this latest announcement, it seems both yards have not been spared margin pressures. <br /><br />"Cost overruns seem to AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-39988264001070994952014-10-15T14:06:30.335+08:002014-10-15T14:06:30.335+08:00Hi betta man,
Since divesting my investment in Va...Hi betta man,<br /><br />Since divesting my investment in Vard for a small gain many moons ago, I have not looked at it.<br /><br />I took a look just now and my jaw dropped. That big black candle on the back of ultra high volume looks really scary. I will need dentures made of titanium to dare take a nibble. -.-"<br /><br />In such situations, we could see a short term rebound from oversoldAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.com