Elite KSB Holdings

[kbl]

New update of the EliteKSB disposal.

http://info.sgx.com/webcorannc.nsf/Annou...endocument

The property at 2 Senoko Way is confirmed as part of the disposal, with revised price from $9.3 Mils to $10.8 Mil

The revised net sale proceeds is approx $71.8 Mils. Approx $1.5 Mils more than original expected.

The management intends to distribute to Shareholders by way of a one-off special dividend at least 55% of the net proceeds of the Disposal excluding the Balance Purchase Price

It work out to be at least $34 Mils, or least 25 cts per share. IMO, the final dividend should be higher than that.

Elite KSB announced their full year report, pending for the final settlement of the disposal.

http://info.sgx.com/webcorannc.nsf/Annou...endocument

Few points to note are

- The book value of the China investment increases from $6.8 Mils to $10.5 Mils
- The earning of the China investment increase from $2.5 Mils to $2.9 Mils, an increase of 16%

Pending with the special dividend after the disposal, the company had declared 1.5 cts final dividend

I am expecting at least 25 cts special dividend from the disposal, so total 26.5 cts including the final dividend.

Spot On. Salute!!!