Yau Lee Holdings (0406)

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estimation of hotel construction costs in hk....

http://rlb.com/rlb.com/pdf/capability/RL...ochure.pdf

http://www.dlshk.com/costdata/ArchiveDat...201108.pdf

3-Star hotels, inclusive of F.F.&E : 19,300 - 21,500 hkd/m2 CFA(2Q 2011) or 1780-1970 hkd/ft2 CFA

total cost of hotel construction inclusive of land: 5300-5500 hkd/ft2. note that YL is using environmentally-friendly building materials for its sheung wan hotel.

estimated book value of holiday inn express SOHO: 520-540M versus YL present mkt cap of 442M

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info on yau lee construction spore..... it is building sembawang BTO & hamilton at scotts http://www.hamiltonscotts.com/

http://dir.bca.gov.sg/detail.php?regno=MjAwNzIxMTcwWg==

Yau Lee Construction (Singapore) Pte. Ltd. was established in 2007 to explore the Singapore market, focusing on design and build, civil and building construction, fitting-out of large scale casinos, shopping arcades and renovation works in order to meet the demands of Singapore market. With the full support from it’s parent company, Yau Lee Holdings Ltd. (“the Group”), which is publicly listed in Hong Kong since 1991; Yau Lee Singapore is progressing fast and steadily into the private and public sectors of Singapore.

Yau Lee Singapore is also a BCA Registered Contractor for CW01-A2, CW02-A2, Licensed General Builders Class 1, Specialist Builder Pre-Cast Concrete Work; Other Certifications like BizSafe Level Star, ISO 9001:2008, ISO 14001:2004, OHSAS 18001:2007

Track Records
Marina Bay Sands Integrated Resort (MBSIR) Construction of MICE and Shopping Arcade; (MBSIR) Podium Wide Post Fixed Column and Beam Facings; Construction of Hamilton Scotts; Main Building Works of The Greenwich and Greenwich Village; Building Works at Sembawang N4C10 and N5C1B.

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YL/Hsin chong joint venture is using BIM for the kai tak site 1B project. expected completion date: aug 2013, no. of flats: 8158, contract value: 2900m hkd. YL interest in JV: 60%

http://www.irasia.com/listco/hk/yaulee/p...100503.htm
http://www.bca.gov.sg/newsroom/others/BI...tsheet.pdf

[soros]

Anyone knows the reason why YL choose to incorporate in bermuda instead of hk?

Although Hong Kong has 50 years freedom after 1997 under the one country two systems policy , nobody is sure how long this policy can continue. So many HK listed companies have chosen to protect themselves by moving their head quarters from Hong kong to offshore centres like Bahamas , BVI and even Singapore.

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holiday inn express SOHO, sheung wan.

43-45 Tsun Yip Street,kwun tong,kowloon. GFA, 110k ft2. px paid, 100m hkd.

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18 CHI KIANG STREET, To Kwa Wan, kowloon. px, 121m hkd
conversion premium paid to convert from industrial to residential: 199m hkd

both of these 2 properties are within kowloon east redevelopment master plan
http://www.ricsasia.org/pdf/event_340.pdf

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http://www.joneslanglasalle.com.hk/Resea...2-CBD2.pdf

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net profit/(net loss)....retained profit.....total equity
2011...71...867...1387
2010..56....789...1303
2009..10...738.....1248
2008..422....732...1284(sale of causebay bay hotel for 1580m)
2007..49.....354.....866
2006..2........308....814
2005..47.......310...817
2004..(1).......268...815
2003..(19)......94.....598
2002..6.4......113.....617
2001..32.......106.....610
2000..30.......88......592(rights 1 for 2 at 10.8cts)
1999..(44).....70......518
1998..15......118.....537
1997..30.....103.....521
1996..22....().........503
1995..21....()..........488
1994..5.8....()..........479

cumulative net profit: 819m
cumulative net loss:64m
net cumulative profit:755m

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18 chi kiang street

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43 tsun yip st, kwun tong

[soros]

Company has reported Final results on 27 Jun - Revenue up 30.5% but Net profit lower. final div 2,28 cts.

Share Price closed at $1.01 ( 20th July12 )

[port]

my estimate that holiday inn express SOHO to open in june 2012 full yr revenue is between 41-62m hkd. net profit margin: 50%

estimate average daily room rate:635 hkd
no of rooms: 274
assume 100% occupancy: 63.5m annual revenue
50% occupancy: 32m revenue

looks like i hv underestimated daily room rate & overestimated NPM
http://www.hiexpress.com/hotels/us/en/ho...0087072409

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18(3-stars), 13(4-stars) and 9(5-stars) hotels in central

http://www.expedia.com.sg/Hotel-Search#d...7251815889

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take a look, this could be a hidden gem among the rocks.http://www.yaulee.com

converging towards net cash of 1.80