(27-03-2014, 08:46 AM)cfa Wrote: [ -> ] (26-03-2014, 08:56 PM)CityFarmer Wrote: [ -> ]NEWS SNIPPETS from Lim & Tan Securities, on 26 Mar 2014
------------
The 3rd largest shareholder (Nan Fung Group)
of Perennial China Retail Trust (PCRT) (53.5
cents, unchanged) continues to pare down their
stake in the company with yesterday’s disclosure of
them having sold another 1,274,000 shares at 54
cents each, reducing their stake to 101,964,000
shares or 8.9% of the company. On 17 Mar’14,
they had sold 29,593,000 shares at 56 cents each.
This is not good as it signals that Nan Fung Group
(helmed by Chen Wai Wai, Lee Pui Ling, Wong Suk
Han and Wong Wai Pat) is not confident that the
pre-conditional takeover offer of PCRT by SGXlisted
ST James at 70 cents a share (equivalent)
can succeed.
Ref: http://remisiers.org/cms_images/research...326_LT.pdf
NF sells but others buy. Those who buy have confident that the Takeover offer can succeed.
If I have to follow someone's lead, i would follow NF instead of "others".
Nan Fung's exposures in PRC are not generating cash flows to expectation , selling non-core investments/assets are rather expected.
Property developers and owners are having hard time in China ,Capitaland is facing the same problem and is liquidating some ''non-core '' investments also.
(27-03-2014, 11:44 PM)MINX Wrote: [ -> ]If I have to follow someone's lead, i would follow NF instead of "others".
I get opinions from some good buddies here but follow nobody. I only follow my money.
if NF willing to sell dirt cheap, I am willing to buy
(30-03-2014, 02:11 PM)kayhian Wrote: [ -> ]if NF willing to sell dirt cheap, I am willing to buy
What price is dirt cheap to you, pray share
Iconic Capitol Theatre to reopen in a year
Published on Apr 04, 2014
By Cheryl Ong
THE historic Capitol Theatre in North Bridge Road will open its doors again in about a year, almost 17 years after it screened its last movie in 1998.
The former cinema, fondly known to many as The Grande Dame, is part of a major heritage redevelopment project, Capitol Singapore, covering 542,000 sq ft. The project, valued at around $1.1 billion, is nearly finished.
It comprises three conservation buildings - Capitol Theatre, Capitol Building and Stamford House - opposite St Andrews Cathedral.
They are being redeveloped by Capitol Investment Holdings, a joint venture between Perennial Real Estate Holdings' president Pua Seck Guan, Pontiac Land Group's co-owner Kwee Liong Seen and massage chair firm Osim's founder Ron Sim.
Mr Kwee said at a ceremony at the site yesterday that the building structure has been completed after 21/2 years.
But extensive restoration works at the theatre, built in 1929, mean the public will have to wait a little longer to set foot in it. "(The opening) ties in with the celebration of Singapore's 50th birthday next year," said Mr Pua.
Capitol Theatre's opening act, Singapura The Musical, will be staged by The 4th Wall Theatre Company, and will be centred on former prime minister Lee Kuan Yew's nation-building journey.
Other than performances and movies, the theatre can also host events such as gala dinners as its 900 seats can be hidden at the press of a button with a computerised system, said Mr Pua.
By the end of this year, the project's retail offerings, a 39-unit residential component named Eden Residences Capitol, and a 157-room six-star hotel The Patina Capitol will be completed.
Mr Pua also said 40 per cent of the retail space had been taken up, and that shoppers can expect brands and restaurants that will be new to Singapore.
On the residential front, he said 14 units had been sold. "The residential isn't a big part of our project, it's only about 25 per cent of the entire development."
ocheryl@sph.com.sg
