Hotel Grand Central

[touzi]

The Tan family behind Hotel Grand is a bunch of disciplined old bloaks. If you go look at the operating cashflow, they are in fact paying out from there. The accounting profits was affected by an impairment charge on the closure of Orchard Road flagship in excess of S$10m so i suspect they are paying close to 100% of net profits before impairment. Ultra conservative businessmen.

Where did you find the impairment charge of $10m? On the FY12 Income Statement, the Impairment for Orchard Rd Hotel Building is $58,241,000 ! Thanks.

Btw, I notice the Tans paid themselves modestly. Only the chairman was paid between $250k-$500k in FY11, the rest of the board and key executives are all paid below $250K.