Hi anyone been following this counter?
i read today the company buyback 1,000,000 shares at 0.78 a share..that about 0.78million sgd..
didnt expect them to buyback at such a high price..something good brewing?
The Directors of Fragrance Group Limited (the “Companyâ€) wishes to announce that the
Company will be setting up a new hotel brand, Parc Sovereign Hotel (“Parc Sovereignâ€) to
operate and manage premium brand hotels.
Our new hotel, which is currently in its advanced stage of construction, located at 175 Albert
Street Singapore, will be the first hotel to be operated under this premium brand.
Our Executive Director, Ms Lim Wan Looi, who has vast experience and expertise in hotel
operations, will advice and assist during the inception stage on various matters inter alia
human resources, marketing and branding and operations. Our Executive Director, Mr Lim
Chee Chong will oversee the overall management of this new hotel brand.
just realise 175 Albert street is near burlington square..the hot bugis area
Is there a real need for a luxury hotel in that location? No doubt it's near bugis and sim lim, but it doesn't strike me as a fantastic location to situate a premium hotel. Is that near the old Albert Court?
Unless I am mistaken, Fragrance pays a quarterly dividend
I think it is worth a look.
(Not Vested)
i used to track Fragrance before the last crash. Finally decided that it was thinly traded, shares appear easily cornered, found it somewhat related to the Aspial ppl (not necessarily -ve) and did not go further. i had some regret bcos i think investors would have done well.
(21-12-2010, 11:41 PM)Jon-san Wrote: [ -> ]Is there a real need for a luxury hotel in that location? No doubt it's near bugis and sim lim, but it doesn't strike me as a fantastic location to situate a premium hotel. Is that near the old Albert Court?
hi jon-san they called it premium brand i dunno if this matches your meaning of a luxury hotel.
hi mikh, is there any negative relation between Aspial and fragrance? care to share thanks
anyway today i went to see that 125 albert street location -
its expected completion date was Dec 2010, so is overdue now.
this 10 storey building will have restaurant and retail shops on level 1, carparks on levels 2 and 3 and a swimming pool on level 4. I find the hotel's location is just excellent. Diagonally opposite is the new rochor mrt station which will be ready in 2015. Albert street is a nice long walkway that will get a tourist pass by the new Lassalle College of the Arts, sim lim square & burlington square, OG, and bugis junction and bugis mrt station.
One interesting thing I noted is that the hotel is very near to the neighboring hdb flat (e nearest width space from hdb block no 9 is less than 3-4 taxi length). residents living in selegie house hdb flat are a lucky lot.
back in june 2009 this was an extract what happened, even bar chain operator, Harry's Holdings was in the action.\:
...A SMALL hotel site in Short Street has received 15 bids, with the winning tender coming in at more than double the trigger price. Budget hotel chain Fragrance Group's bid of $15.5 million, or $353 per sq ft (psf) per plot ratio, is about 76 per cent higher than the trigger of $201 psf per plot ratio, or $8.8 million. The price is more in line with analysts' projections last August, when the site was first made available on the Government's land sales list, than recent ones. The second highest bid - from Hotel 81's Regal Land - was at $14.01 million, or $319 psf per plot ratio. Centurion Properties, largely owned by UOB-Kay Hian stockbroker pair Han Seng Juan and David Loh, put in the third-highest bid of $12.89 million, or $291.70 psf per plot ratio. Other bidders included Sim Lian Land, Hotel Royal Investment, Wah Khiaw Developments, Mayhew, Heeton Commercial and Orchard Parade Holdings' First Choice Properties. The first nine bids all came in above $10 million.
Singapore's largest bar chain operator, Harry's Holdings, which recently said it was keen to buy a small hotel, also put down a bid - at $9.5 million or $217 psf per plot ratio.
...
Fourth Quarter 2010
Turnover for the Group in the fourth quarter increased by 14.8 per cent to reach S$64.09 million as compared to S$55.81 million for the same corresponding period in 2009. The increase was due to the contributions from both the property
development and hotel operations.
The property sector contributed S$53.34 million or 83.2 per cent of the consolidated turnover. This was an increase of about 14.8 per cent from S$46.48 million in the fourth quarter of 2009. Progressive recognition of revenue came from development projects namely Prestige Heights, The Cotz, Eastwood Regency, Parc Elegance, Suites & Icon @ Changi, Kovan Grandeur and landed housing project at Sennett Road (6 units).
The hotel sector contributed S$10.75 million or 16.8 per cent to the total consolidated turnover. This was an increase of 15.1 per cent from the same corresponding period last year. Higher occupancy and room rates, as well as the revenue generated by one new hotel, contributed to the increase.
The Directors have recommended a final dividend of 0.5 cent per share which, if approved at the next Annual General Meeting, will be paid to shareholders on 28 April 2011. This will bring the total dividend payout for FY2010 to 1.125 cents per
share based on enlarged post-bonus issue shares of 1,680,000,000. In comparison, the Group paid out total dividends of 1.0 cent per share in FY2009.
do u mean eleven bedsheets per room per day? however that 3 years ago..mayeb things have changed or something..
maybe u can take a cue in hong kong how their budget/hourly hotel or so called motels are flourishing..hourly rate is an business innovation...smiles
The board of directors (the “Directorsâ€) of Fragrance Group Limited (the “Companyâ€) is pleased to announce that the Company is proposing to undertake a bonus issue (the “Proposed Bonus Issueâ€) of up to 1,680,000,000 new ordinary shares in the capital of the Company1 (“Bonus Sharesâ€), on the basis of ONE Bonus Share (or such other lesser number as may be permitted under the applicable rules) credited as fully paid at nil consideration for every ONE existing ordinary share (the “Sharesâ€) held by the shareholders of the Company (the “Shareholdersâ€) as at the books closure date to be determined by the Directors for the purpose of determining the
entitlements of the Shareholders (“Books Closure Dateâ€). Fractional entitlements will be disregarded and disposed of in such manner as the Directors may in their absolute discretion deem fit for the benefit of the Company.