09-02-2012, 02:05 PM
(08-02-2012, 05:40 PM)dydx Wrote: [ -> ]LHT's investment property at 44 Sungei Kadut Street 1 has been independently valued to have a CMV of $10.0m (vs. BV of $6.932m as at 31Dec11), and this throws out a $3.068m valuation gain.....
http://info.sgx.com/webcoranncatth.nsf/V...E00330B9E/$file/LHT-Holdings-44-Sg-Kadut-St-1-Valuation-final.pdf?openelement
Based on LHT's 212.98m outstanding issued shares, this valuation gain should add $0.0144 to per share NAV, which should hit approx. $0.18 as at 31Dec11. We will have confirmation of this when the company releases its FY11 full-year results by 29Feb12.
The investment property was carried at
Dec 2010: $5.2m
Jun 2011: $6.1m
Dec 2011: $6.9m
For FY11, there will be already a $1.7m revaluation gain without considering the independent valuation. If the property is carried at $10m, the valuation gain will be $4.8m.
[edit: I forgot to include the capex for improvement. Revaluation gain will be lower.]
What was not mentioned is the valuation of the owner occupied building across the street. How much is it worth?
Some clues.
1. The building is stated at cost less depreciation.
2. When LHT reclassified 44 Sungei Kadut St 1 into investment property in 2007, the carrying value was only $1.85m. Today it is valued at $10m.
Answer: Significantly more.