Just by its trade or brand name - "Popular Book Store" - and its long operating history, and the fact that the group has been growing steadily and profitably for a long time, and paying out very decent twice-a-year dividends along the way, Popular ought to stay as a popular stock counter and trade at a reasonable premium above its latest NAV, which is at least $0.2506/share (after deducting/adjusting for the $0.008/share Final dividend from the 30Jul12's NAV/share of $0.2586).
This song is dedicated to those who'd made $$ (realised / unrealised) in Popular Hldgs even as it hits it's 52-weeks high.... Enjoy!
Nice song !
Looking forward to tomorrow's dividend.
May used it to buy some books from Popular to read.
In the mean time, its share price appears up, up and away.
You guys are really good.
EGM on 9-Nov-12 for approval to add Properties activities in Industrial & Commercial areas like development, holding, investment, management,...
Did anyone attend EGM & what did they say about plans for property business?
(11-11-2012, 12:04 PM)buddy Wrote: [ -> ]Did anyone attend EGM & what did they say about plans for property business?
I didn't attend.
But, I'm SPECULATING that they're creating options / alternatives for themselves in case they're unable to sell their condo units. For eg., 8Raja (or future projects) could be converted into rental units or Serviced Apartments (possible? easy to get regulatory approval?).
(11-11-2012, 12:04 PM)buddy Wrote: [ -> ]Did anyone attend EGM & what did they say about plans for property business?
New property business is because Popular plans to move into a new corporate building (need extra space for staff and own use) and plans to buy a bigger premise, partly for self-use, and the balance can be leased out to 3rd parties. This will also allow them to save on rental expenses for the existing premise. That will be the immediate purpose for this mandate. Any other future developments will again be conservatively explored (not aggressive). Main focus is still in main book business.
For leasing, yes, they may be leasing 8Raja as an alternative to selling.. more options, dependent on market condition.
(13-11-2012, 11:28 PM)jovialger Wrote: [ -> ] (11-11-2012, 12:04 PM)buddy Wrote: [ -> ]Did anyone attend EGM & what did they say about plans for property business?
New property business is because Popular plans to move into a new corporate building (need extra space for staff and own use) and plans to buy a bigger premise, partly for self-use, and the balance can be leased out to 3rd parties. This will also allow them to save on rental expenses for the existing premise. That will be the immediate purpose for this mandate. Any other future developments will again be conservatively explored (not aggressive). Main focus is still in main book business.
For leasing, yes, they may be leasing 8Raja as an alternative to selling.. more options, dependent on market condition.
Thx for the info!
Sounds good to me but then again, I'm vested and may have fallen in love with the stock... Even crazy enuff to get some more at current level... Let's hope they don't weaken the Balance Sheet too much when they embark on this new project but I think they ought to have learnt a very good lesson last time (when they just started Property biz and had to do 2 rights issues)...