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01-04-2015, 10:38 PM
Number of shares issued = 852,920,638 (pre-consolidation of 10 shares into 1)
NAV= SGD 0.2441 (as at 31-Dec-2014)
Offer Price = SGD 0.17 = 0.70 NAV
Potential gains from sales of hotels in Japan has yet to be factored in
Carrying Value of 9 hotels in Japan = SGD 118.081 million (as at 31-Dec-2014)
2 of the hotels in Sapporo has been agreed to be sold for SGD 29.61 million
7 of the remaining hotels is under negotiation to be sold for about SGD 150 million
Potential pre-tax gains of 150 + 29.61 – 118.081 = SGD 61.53 million or SGD 0.072 per share (pre-tax).
Another lowball offer?
Fair or unfair?
Reasonable or unreasonable?
Perhaps, an offer made on April's Fool day should not be taken too seriously........just kidding....... ha-ha !
(not vested)
NAV= SGD 0.2441 (as at 31-Dec-2014)
Offer Price = SGD 0.17 = 0.70 NAV
Potential gains from sales of hotels in Japan has yet to be factored in
Carrying Value of 9 hotels in Japan = SGD 118.081 million (as at 31-Dec-2014)
2 of the hotels in Sapporo has been agreed to be sold for SGD 29.61 million
7 of the remaining hotels is under negotiation to be sold for about SGD 150 million
Potential pre-tax gains of 150 + 29.61 – 118.081 = SGD 61.53 million or SGD 0.072 per share (pre-tax).
Another lowball offer?
Fair or unfair?
Reasonable or unreasonable?
Perhaps, an offer made on April's Fool day should not be taken too seriously........just kidding....... ha-ha !
(not vested)
Research, research and research - Please do your own due diligence (DYODD) before you invest - Any reliance on my analysis is SOLELY at your own risk.