Singapore Press Holdings (SPH)

(28-05-2013, 08:29 AM)paullow Wrote: i invite forumers to take a short walk through history.
in 1988, ohl bought paragon for 280m. if he had kept it till today, its latest valuation would be ten times of oei's purchase price 25yrs ago. this shows that prime ppties appreciate the most. we still haven't added all the rental income yet!
and oei's worth today according to forbes is far less than this single asset he bought n sold 1/4 century ago.

The current Paragon is actually created by amalgamating 2 malls - Paragon & Promenade sometime in 2003.

must be able to survive the many financial crisis in that past 25 years.

(28-05-2013, 09:10 AM)KopiKat Wrote:

(28-05-2013, 08:29 AM)paullow Wrote: i invite forumers to take a short walk through history.
in 1988, ohl bought paragon for 280m. if he had kept it till today, its latest valuation would be ten times of oei's purchase price 25yrs ago. this shows that prime ppties appreciate the most. we still haven't added all the rental income yet!
and oei's worth today according to forbes is far less than this single asset he bought n sold 1/4 century ago.

The current Paragon is actually created by amalgamating 2 malls - Paragon & Promenade sometime in 2003.

Royal bros sold the Promenade to SPH. It had undergone extensive renovation. The 2.5 B valuation seems to be on the high side.

yes, kopikat, u r rite. and orchard promenade was the site of the fitzpatrick supermarket for those old enough to remember. anyway, with orchard super prime freehold land appreciation n rental factored in, if oei sat on it n stayed put, i think he'd be not far from obs.

"Keep in mind the Native folks of the fur trade era had their own system of value. While we might have a giggle at the supposed "Manhattan trade," most white Americans have no idea how "illogical and unsophisticated" their ancestors' taste was in the eyes of the Indian Peoples. While we laugh today at buying land with beads, they laughed at our ancestors for trading valuable guns and silk for old, torn, worn to rags beaver furs - hides so hideous they were considered borderline garbage to the Native Peoples, yet those "crazy" Europeans fell all over themselves to own them. The older and more worn the furs, the more they wanted them. It would be like somebody offering you a new hunting rifle for your old, worn, holes in the heels, no-name sneakers. Whatever you think of a person who would make such a extreme trade for your old shoes is probably close to what the Native Peoples thought of such European trades."

So i think OHL must have his reasons for selling at that time.

I thot OHL was UIC CEO then. He flipped the property for a quick gain. SPH was the 'robert head' then.

(28-05-2013, 09:25 AM)paullow Wrote: yes, kopikat, u r rite. and orchard promenade was the site of the fitzpatrick supermarket for those old enough to remember. anyway, with orchard super prime freehold land appreciation n rental factored in, if oei sat on it n stayed put, i think he'd be not far from obs.

OBS struck gold with his investment in Mulberry when he bailed it out in 2000. Today, it makes up a large part of his Net Worth...~half in a 2011 article by infopedia.
Life is a lot more complex than that as there're just too many variables. But, sometimes, all it takes is just ONE good investment where you'd put in a meaningful amount of money...

(28-05-2013, 10:02 AM)KopiKat Wrote: Life is a lot more complex than that as there're just too many variables. But, sometimes, all it takes is just ONE good investment where you'd put in a meaningful amount of money...

I agree. Another example is Peter Lim $10M investment in Wilmar becomes billion and makes him one of the richest in Singapore.

(28-05-2013, 09:46 AM)opmi Wrote: I thot OHL was UIC CEO then. He flipped the property for a quick gain. SPH was the 'robert head' then.

With its long term value, it was perfectly OK to be a short-term "robert head" then... Isn't it?

The same for SPH's Clementi Mall tender, which overly-priced is a common word in most of reviews then.

But who is SPH? Too-Much-Sick? The-IC? PAPY's Corporation?

(28-05-2013, 10:16 AM)CityFarmer Wrote:

(28-05-2013, 09:46 AM)opmi Wrote: I thot OHL was UIC CEO then. He flipped the property for a quick gain. SPH was the 'robert head' then.

With its long term value, it was perfectly OK to be a short-term "robert head" then... Isn't it?

The same for SPH's Clementi Mall tender, which overly-priced is a common word in most of reviews then.