(13-10-2014, 10:32 PM)desmondxyz Wrote: [ -> ]According to AR2014,
Knowledge Universe Holdings, LLC (KUH) is a holding company that has various interests in education related ventures including an approximate 65% interest in Knowledge Universe Education LP, the Group’s global education platform. The Group’s 12.2% equity interest in KUH was acquired at a cost of approximately US$57 million. In accordance with the terms of the KUH operating agreement, upon the Group receiving cumulative distributions from KUH of approximately US$97 million, the Group’s interest is reduced to 10.2%.
I didn't realize there is such an agreement. Any valuebuddies know any other hidden clauses??
no way to find out. Have to ask at coming AGM.
Totally unexpected. 2.5cents is a lot, given the lackluster Q1 results. it probably makes up for the kosong dividend for the preceding qtr. looks like they were trying to postpone the div till now. It's a pleasant news. LOL. vested with my home kitchen sink thrown in alr.;Ppp
(23-10-2014, 10:14 PM)opmi Wrote: [ -> ] (23-10-2014, 07:39 PM)desmondxyz Wrote: [ -> ]http://infopub.sgx.com/FileOpen/k1.%201Q...eID=319287
Another 2.5 cts div..... Huat la!!!
And good meal at four seasons this tues.
Are you attending the meeting? If yes, please help me to ask about the KUH thing. I want to attend but I will be flying to China on that day....
(23-10-2014, 11:33 PM)desmondxyz Wrote: [ -> ] (23-10-2014, 10:14 PM)opmi Wrote: [ -> ] (23-10-2014, 07:39 PM)desmondxyz Wrote: [ -> ]http://infopub.sgx.com/FileOpen/k1.%201Q...eID=319287
Another 2.5 cts div..... Huat la!!!
And good meal at four seasons this tues.
Are you attending the meeting? If yes, please help me to ask about the KUH thing. I want to attend but I will be flying to China on that day....
If I didn't go, I am very sure there will be still people asking.
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(23-10-2014, 11:46 PM)ngcheeki Wrote: [ -> ]Delay of China Grand Auto, ipo will not happen in FY2014.
http://www.reuters.com/article/2014/10/2...T520141023
"China Grand Auto, backed by private equity firm TPG Capital , won't launch the IPO in 2014 and is also considering whether to list in China's domestic stock market instead, added IFR, a Thomson Reuters publication."
Switching A to H then back to A again??
Think A share better. But don't know if PRC stock exchanges implemented the disclosure-based listing yet. As compared to the waiting list for approval.
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Update from OSK-DMG, attached for info re K1's Q1FY15 results. This update probably didnt factor in CGA's delay (many times) to list its IPO, as indicated above. But then again, TPG's cold feet isn't new info. Reminder that AGM tomorroW!
Scoop of The Day
K1 Ventures (KONE SP) reported 1QFY15 net profit of SGD3m, and in conjunction with the results, declared a per share dividend
of 2.5 cents. The latest results reflected the de-consolidation of Helm, its railcar leasing business, which was divested in April this year. Including the latest dividend, management would have dished out a total of 10.5 cents in dividend/share since management’s failed MBO some 2 years ago. K1’s remaining investments include: 1) a 10.2% stake in Knowledge Universe Holdings (KUH); 2) a USD100m investment in preferred shares of Guggenheim Capital with a 7% coupon rate; 3) a 1.6% stake in China Grand Auto, the largest automotive dealership in China and majority-owned by private equity firm TPG. Management does not plan to make any further investments and will manage the existing portfolio for eventual exits. We believe near term catalysts could be a listing and monetization of China Grand Auto, as well as potential cash distribution from KUH. Using a sum of parts valuation, the stock is worth SGD0.26/share, by our estimates. We pegged a 10% discount to derive a TP of SGD0.235. Maintain Buy.
Analyst: Goh Han Peng
Analysts are analysts... buy at 10% discount for breakup value...
High risks... what about taxes on winding up...
Anyway, Goh Han Peng yet to follow up on Guoco Leisure for a long time liao... GG got to do own analysis... what if someone start to check up on VB for future reference...
Who m I to complain since I not licenced and BTC...
Odd Lots Vested
GG
(27-10-2014, 09:01 AM)tealeaves Wrote: [ -> ]Update from OSK-DMG, attached for info re K1's Q1FY15 results. This update probably didnt factor in CGA's delay (many times) to list its IPO, as indicated above. But then again, TPG's cold feet isn't new info. Reminder that AGM tomorroW!
Scoop of The Day
K1 Ventures (KONE SP) reported 1QFY15 net profit of SGD3m, and in conjunction with the results, declared a per share dividend
of 2.5 cents. The latest results reflected the de-consolidation of Helm, its railcar leasing business, which was divested in April this year. Including the latest dividend, management would have dished out a total of 10.5 cents in dividend/share since management’s failed MBO some 2 years ago. K1’s remaining investments include: 1) a 10.2% stake in Knowledge Universe Holdings (KUH); 2) a USD100m investment in preferred shares of Guggenheim Capital with a 7% coupon rate; 3) a 1.6% stake in China Grand Auto, the largest automotive dealership in China and majority-owned by private equity firm TPG. Management does not plan to make any further investments and will manage the existing portfolio for eventual exits. We believe near term catalysts could be a listing and monetization of China Grand Auto, as well as potential cash distribution from KUH. Using a sum of parts valuation, the stock is worth SGD0.26/share, by our estimates. We pegged a 10% discount to derive a TP of SGD0.235. Maintain Buy.
Analyst: Goh Han Peng