GL Limited (formerly: Guoco Leisure)

[ngcheeki]

Anybody with the full UOB report?

http://www.hkex.com.hk/eng/csm/ShowNews....291265.pdf
Based on the Valuation report page 52, the Reassessed NAV of Guoco Group is HKD166.9, while the Reassessed Tangible NAV is HKD142.0. At the current trading price of HKD92.65 and offer price of HKD100.00, it implies a 44% discount and 40% discount to the NAV, respectively.

Assuming that the UOB analyst's computations are correct, and putting a similar 40% discount to the NAV of SGD1.47, Guocoleisure should trade around SGD0.882 (which coincidentally is today's closing price).

still got value????
But if betting on privatization, i wonder if he will offer any higher than 40% discount to NAV for Guocoleisure.

Attached is the report I had for your reference.