24-01-2013, 04:25 PM
(24-01-2013, 02:52 PM)revelationofpyramids Wrote: [ -> ]Hi Green Giraffe,
Thanks for your notes on my posting on CES thread. I am buying some LKH now.
Btw, where did u get figure that LKH has around 134000 sf of retail space to be launched at PL Square? Someone else posted it as 95,000 sq ft. Is your fig GFA or NLA. I think NLA is the one they can sell. Also since they leased out already maybe they wont sell so cannot monetize this asset?
http://info.sgx.com/webcoranncatth.nsf/V...F00327EF0/$file/LowKengHuat_Ann_PayaLebarProject.pdf?openelement
I very dumb one - i just follow what company tell me and do my simple maths. If other buddies spoke to co and has updates, will appreciate input.
Do u also know how many % of Minton revenue and profit already booked in its results?
I wish I know but Minton still under construction so I think there is still a big bulk to come. If any buddies have any inputs, it is also deeply appreciated.
Many thanks.
My friend told me months ago that LKH is a simple company and conservatively managed. I looked already and agreed - 3 local developments largely sold and cash flow will come in over next few years.
Malaysian landbank acquired together with parent company, delisted Malaysian company General Corp before GFC, so LKH has a portfolio of dirt cheap landbank in JB. Only caveat, location of these landbank is unknown and hence their current value.
They only have 2 hotels left - one in Perth which is doing very well due to severe shortage of 4 to 5 star accomodation in Perth. As there is no new supply at least till 2016 and Western Australia continued to be underpinned by resources boom, there is absolutely no worries in Perth.
Vietnam, I am not familiar but shouldn't affect LKH too much.
Aging management team coupled with delisting experience of General Corp will always open up a door for delisting for LKH (my fat dreams of course).
While LKH is narrowing discount to the conservative RNAV of $1.00, dividend yield remains decent while discount to RNAV is still at least 30% so I am inclined to ride the ongoing property stock fever. Physical property too overvalued, hedged against well run company with proven friendly track record.