07-08-2014, 09:27 PM
those who were holding back must have known about the rising unemployment figures and got cold feet. Looks like FCL will have another piece of the australian pie.
(11-08-2014, 06:45 AM)greengiraffe Wrote: [ -> ]Results Out... 1st posting on 11 Aug... Typical Towkay style...
http://infopub.sgx.com/Apps?A=COW_CorpAn...1fc42dbd73
Frasers Centrepoint Limited Reports 77% Jump in 3Q FY13/14
Attributable Profit before Fair Value Change and Exceptional Items
Attributable Profit before Fair Value Change and Exceptional Items surged on the back of
project completions in China, sale of completed units in Australia and UK, as well as the
divestment of Changi City Point
Extension of REIT strategy with the injection of six serviced residences into the Group’s
newly-listed Frasers Hospitality Trust and divestment of Changi City Point to Frasers
Centrepoint Trust
Launched takeover of Australand in a transformational transaction that is in line with FCL’s
strategy and will deliver significant benefits to FCL
(11-08-2014, 09:38 AM)CityFarmer Wrote: [ -> ](11-08-2014, 06:45 AM)greengiraffe Wrote: [ -> ]Results Out... 1st posting on 11 Aug... Typical Towkay style...
http://infopub.sgx.com/Apps?A=COW_CorpAn...1fc42dbd73
Frasers Centrepoint Limited Reports 77% Jump in 3Q FY13/14
Attributable Profit before Fair Value Change and Exceptional Items
Attributable Profit before Fair Value Change and Exceptional Items surged on the back of
project completions in China, sale of completed units in Australia and UK, as well as the
divestment of Changi City Point
Extension of REIT strategy with the injection of six serviced residences into the Group’s
newly-listed Frasers Hospitality Trust and divestment of Changi City Point to Frasers
Centrepoint Trust
Launched takeover of Australand in a transformational transaction that is in line with FCL’s
strategy and will deliver significant benefits to FCL
The result was within expectation, but it seems the cash will be re-deployed on more M&A, rather back to shareholders as dividend(s).
It is still a good company, but deviated from my story, thus divested last week, together with F&N in earlier time.
F&N investment was a special-situation story, and the divestment has dragged too far. Time to re-deployed the capital for new opportunities
Wish all the best for remaining shareholders.
(divested both FCL and F&N)
(11-08-2014, 10:04 AM)greengiraffe Wrote: [ -> ](11-08-2014, 09:38 AM)CityFarmer Wrote: [ -> ](11-08-2014, 06:45 AM)greengiraffe Wrote: [ -> ]Results Out... 1st posting on 11 Aug... Typical Towkay style...
http://infopub.sgx.com/Apps?A=COW_CorpAn...1fc42dbd73
Frasers Centrepoint Limited Reports 77% Jump in 3Q FY13/14
Attributable Profit before Fair Value Change and Exceptional Items
Attributable Profit before Fair Value Change and Exceptional Items surged on the back of
project completions in China, sale of completed units in Australia and UK, as well as the
divestment of Changi City Point
Extension of REIT strategy with the injection of six serviced residences into the Group’s
newly-listed Frasers Hospitality Trust and divestment of Changi City Point to Frasers
Centrepoint Trust
Launched takeover of Australand in a transformational transaction that is in line with FCL’s
strategy and will deliver significant benefits to FCL
The result was within expectation, but it seems the cash will be re-deployed on more M&A, rather back to shareholders as dividend(s).
It is still a good company, but deviated from my story, thus divested last week, together with F&N in earlier time.
F&N investment was a special-situation story, and the divestment has dragged too far. Time to re-deployed the capital for new opportunities
Wish all the best for remaining shareholders.
(divested both FCL and F&N)
FCL is seperately listed not for the purpose of returning cash. The main reason for the listing is for the purpose of expansion. If any companies are to continue listing, then a good company will allocate its precious capital with a right level of risks assume.
As an allocator of capital, one has to take into consideration of one's risk/reward profile. Under present global equity conditions, it is likely that property stocks will have underweightings in most global funds. However, being underweight does not mean totally no exposure hence within my own portfolio, FCL remains a good solid pick.
IMHO, once the Australand takeover is concluded and a clearer roadmap is being rolled out to extract value from Australand, FCL will be further re-rated.
Business is always very tough and the stock market makes a mockery of how difficult business strategies are being executed. having said that, equity investments remains a good avenue for wealth accumulation should it be done with skill, intergrity and morality.
GG