In the next few years, if property markets including commerical and industrial tank, Hupsteel might be taken private on the cheap...
As always, the minority shareholders will lose out...
(03-09-2013, 06:58 PM)Stockerman Wrote: [ -> ]In the next few years, if property markets including commerical and industrial tank, Hupsteel might be taken private on the cheap...
As always, the minority shareholders will lose out...
And lose all respect from long time shareholders. I sincerely hope management has higher integrity than that.
It is a known fact that no one ever cares about the minority shareholders. The big boys all have their own agenda and if it means making money off anyone legally, they just go ahead. Small fry like us just need to be nimble. I agree that now is not the time to support the price. If can hold, better plan is to let it plummet to 15-18 before loading up again. Painful as that may be...
Stay focused. Accumulate on the cheap!
What level is cheap ? 15 cent is cheap but not now . Even if NAV is revised , there is normal a 30% discount to RNAV for REITS.
Hupsteel is not even domain expert in property development. Does it have the expertise in project management ? Eg how to handle project delays , cost overruns , finding good tenants , etc ... It is not something which u can learn overnight IMHO
well mgt aint tat bad la, still got give dividend if really niao gu they wont have declare it anw. But then property correction yes i think inevitably it will come. But don forget it was already discounted in the accounting book le. Based on decades old price. Steel i think might be turning soon, seeing marine (shipping n ship building) stocks starting to turn, market tend to run ahead of the turn. So i do expect economies to start picking up globally. But will their biz pick up with it is yet to be seen, on the flip side.
Management resumed their daily share buy backs.
(11-09-2013, 05:15 PM)TheMillennium Wrote: [ -> ]Management resumed their daily share buy backs.
yes lah!
21.5cts!
means they will continue to pick up on the cheap...
means prices will be "supported" in a sense..
If you are a true value investor, you wouldnt want the price to be supported, you will hope that it drops further so that you can accumulate more on the cheap. The moment you seek for price support, you are doubting its value and whether you had a sufficient MOS in the first place
that's why i feel management shouldn't buy in at this price.. heck, let it go down all the way to 15cts!! and then major MOP UP!!
but then again, they have been buying at 23-22cts before/already...! so this price is considered as cheap to them.
2 points i can believe,
1) Management is really considering 23-21cts as cheap
2) Management has been buying in consistently.