not sure of the exact layout of the new building but i guess new buildings will command a higher price than old ones. goldpine building is 30yrs old?
moreover, i think kim chuan is better connected-2 turns and one is on KPE highway.
so that could contribute perhaps $3m/yr extra income which may contribute some 0.5c to its eps.
of course, that's still subject to the rentability of the units, supply and demand in the area.
maybe some experts can contribute whether it is possible to erect such a building in 18months and ready to be used.
in 2005, hupsteel had a very grand 60th aniversary celebration:
Hup Seng Huat Co Ltd celebrates 60th anniversary and unveil its new name - 'HupSteel Limited'.
Hup Seng Huat Co. Ltd celebrates 60 years in business on 15th November 2005 with an Open House at its flagship building located at 116 Neythal Road. To commemorate this auspicious event, a grand gala dinner for 1,000 guests will also be held at the Meritus Mandarin Hotel with Dr Vivian Balakrishan, Minister for Community Development, Youth and Sports, and Second Minister for Trade and Industry as our distinguished Guest of Honour for the night.
In its strive to meet the vision of being a global solution provider for steel services and to better reflect the nature of its business in the ever evolving business environment, the Company is changing its name to HupSteel Limited. Mr Lim Kim Thor, CEO, explained: “The decision to adopt the new name is a bold and timely one. In the last 60 years, the Group has established an excellent reputation as a one of the leading regional provider of high quality pipes, fittings and structural steel products. The next lap is to move beyond our traditional markets, partner with our customers as they globalize and to seek out new niches to further the growth of the Group”.
2015 would be the company's 70th aniversary, likely another grand celebration.
perhaps, that is why they are rushing to complete 6 kim chuan in time for a open house together with its 70th year celebration.
of course, i could be wrong totally.
happen to go mustafa for shopping n decided to stopover at 38genting lane. these r my findings:
sleepy security guard cum caretaker taking nap behind stairway beside carpark.
one side of perimeter fence nearly collapse
letter box showed ard 30spaces but only less than 10 being used. the rest unlabelled n unlocked.
toilet is like n 70's. reminds me of old safti.
small wasp hives found at multiple sites at stairwell.
obviously, building in gross neglect.
imo, the internal spaces r not optimised. lots of wastage.
at one floor, one tenant kept his own private garden of plants.
at another floor, there is a makeshift kitchen with a whole host of cutlery arranged near thr window.
i guess management will take some time to make good this building.
the only pros are which fortunately cannot be changed:
freehold status
good location very near city
easy access to pie
lucky no. 38.
I dont know what is hup steel trying to do with today's 6 lots of share's repurchase. I dig into the list of shares purchase done today and indeed hup steel queued to buy only 6 lots at 23 cts.
Dont you think management needs a good wake-up call? Think about it, besides this retarded sharebuyback, it has taken years for them to think about redeveloping its old properties
(17-05-2013, 10:59 PM)Bibi Wrote: [ -> ]I dont know what is hup steel trying to do with today's 6 lots of share's repurchase. I dig into the list of shares purchase done today and indeed hup steel queued to buy only 6 lots at 23 cts.
Yes, I'd very much like see them doing a reasonable sum of lots at one go rather than a few nibbles over multiple days. The former action would be more effective.