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Thakral
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Proposed Share Consolidation 20:1
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Trainner
Master |
28-May-2025 15:45
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I did not follow up on Wee Hur as I do not have any holding. For WH case, they got ~S$320M from the disposal. I do not know what was the book value for this investment, if the book value is high, the gain from the divestment may be low on the paper. But of course, WH will get a lot of cash which is still good for the company. WH' s shares were traded at ~20cts, it went up to > 50cts which is very good for investors. I will be happy if I had shares as I always hold long term, not contra no short...... Anyway, the comment on Thakral is my personal DD, hopefully, I am correct  and the long term investors will get rewarded.
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superstartup
Supreme |
28-May-2025 15:31
Yells: "Enjoy doing Fundamental Research" |
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The dilution effect is correct. But there are crucial missing numbers in your calculation. Your calculation is just like that ST Editor writeup of wee hur, and hence the claim of $1 $2 for wee hur. See where Wee Hur headed today after completion of sale.
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Trainner
Master |
28-May-2025 14:53
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Price continues to go up today but lower than my hope........ In 1Q' 25 investor briefing, the NAV/share was S$1.32, with ~127M floating, total NAV is ~S$167M. The contribution from Gemlife IPO should be ~S$320M (hopefully), that may push the total NAV (guesstimate) to be > S$400M or > S$3.1/share based on 127M shares........ I might have some errors in the calcuation/ estimation, but the IPO will certainly boost the NAV of Thakral to a new level...... Cuurent share price is only ~50% of the estimated NAV, thus, I am hopping the price to continue go up~~~ Meanwhile, enjoy the div.... Please DYODD....
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Trainner
Master |
27-May-2025 10:20
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Thakral ownership should be diluted once the IPO to ~20.5%. That will worth ~A400m or S$320M. Not sure what is the current book value for this asset. To maximise the profit, may be good to hold till the IPO complete. Also, the company has been giving dividends consistently (❤ ️ ..... my best friend....)!
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ahberngh
Elite |
27-May-2025 09:58
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Moving too much too fast. When the bbs stop the music, don' t be caught standing. |
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superstartup
Supreme |
27-May-2025 07:49
Yells: "Enjoy doing Fundamental Research" |
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Like that meh? Just see Wee Hur $1 $2 value claim then. Ended up all disappointed. Those bought high high tio sabo. . . Need to ascertain clearly what each reported number means in financial term. Not going to repeat the analysis over here.
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soojinhou
Member |
27-May-2025 07:35
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At 2b valuation, thakral' s 31.7% stake is worth A$634k, vs their current market cap at S$153k | ||||
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SmallSmall
Supreme |
26-May-2025 20:02
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FINANCIAL REVIEW
Land lease giant GemLife eyes $700m-plus IPO at $2b val roadshow on MAY 21, 2025 While everyone holds their breath for Virgin?s $4 billion float to take off, another multibillion-dollar IPO hopeful is quietly marching ahead with its ASX debut. Street Talk can reveal GemLife, the land lease communities giant owned by Queensland?s Puljich family and Thakral Capital, this week told fund managers to think about a $700 million-plus raising at a circa $2 billion valuation that could launch in the coming weeks. Adrian Puljich and his family are in line for a big payday if GemLife?s IPO pitch flies with fundies. Photo: Oscar Colman Sources said GemLife?s bankers, JPMorgan, Morgan Stanley and Highbury Partnership, took about two dozen fund managers through four sites in Queensland on Monday and Tuesday, ahead of a non-deal roadshow planned for Asia next week. They added GemLife is preparing to mail out preliminary financials to prospective IPO backers within days. It is said to be hoping to sneak in a June bookbuild for a July float, although a final decision ? including on the timeline or pricing ? is yet to be made. GemLife has been pitched as Australia?s largest privately owned land lease developer, owner and operator, with nearly 10,000 homes at 30-plus communities across Queensland, NSW, Victoria and South Australia. Its run at the ASX boards comes after it tested buyer appetite in 2022, but didn?t sign a deal despite receiving interest from the country?s largest superannuation fund AustralianSuper. It is vying for a place in listed equities investors? portfolios at a time when the housing affordability crisis has spiked pre-retirees? and retirees? interest in land lease communities ? where they buy a house but lease the underlying land from an operator like GemLife ? over the traditional and more expensive alternative of paying for a retirement home in a community. Investor money has followed suit, as deal makers play twin themes of ageing population and declining housing affordability, alongside an annuity-style return stream and potentially double-digit returns. Potential investors have been asked to compare GemLife to ASX-listed rival Ingenia, which trades at about 16-times price-to-earnings ratio and a $3 billion enterprise valuation. Lifestyle Communities is the only listed pure play land lease business and has been trading at more than 20 times. GemLife?s IPO plans were first revealed by this column. It is among the biggest IPO candidates for 2025, alongside Virgin Australia, Dexus? infrastructure funds, and TPG Capital?s $3.75 billion pets and vets business Greencross. Dual-track candidates include Fonterra?s dairy business and Brookfield?s La Trobe Financial. Only two of these, Virgin and GemLife, are expected to attempt a listing by the end of this financial year. |
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SmallSmall
Supreme |
26-May-2025 14:52
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This one no horse run.....Sky will be the limit. 2 of its investments heading for IPOs. UPDATE FOLLOWING PREVIOUS ANNOUNCEMENT MADE BY THE COMPANY ON 7 APRIL 2025 (RE: &ldquo CLARIFICATION ANNOUNCEMENT ON THE AUSTRALIAN FINANCIAL REVIEW ARTICLE ON 2 APRIL 2025 ON GEMLIFE&rdquo ) Thakral Corporation Ltd (the &ldquo Company&rdquo and together with its subsidiaries, the &ldquo Group&rdquo ) refers to the previous announcement made on 7 April 2025 in connection with the Australian Financial Review article published on 2 April 2025 in relation to GemLife, an over-50s lifestyle resorts business in Australia and an associated company of the Group, in respect of which the Company indirectly holds an effective interest of 31.7% (the &ldquo 7 April Announcement&rdquo ). In compliance with Rule 703(1) and the Corporate Disclosure Policy set out in Appendix 7.1 of the Listing Manual of the Singapore Exchange Securities Trading Limited, the board of directors of the Company (the &ldquo Board&rdquo ) would like to provide an update to the Shareholders and potential investors as follows: The Board has been further informed by the Company&rsquo s representative board member of Thakral Capital Holdings Pte. Ltd., the entity through which the Group holds its stake in the GemLife business that since the 7 April Announcement, GemLife has made progress in terms of the strategic options that it has been considering (including a possible initial public offering as previously mentioned). The Board has directed its management to keep itself posted on the progress and to update the Shareholders as and when appropriate but subject always to compliance with applicable legal and regulatory requirements (including statutory restrictions) in Singapore and Australia. |
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Joelton
Supreme |
08-May-2025 10:01
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Thakral Corporation&rsquo s net profit declined 4.9% y-o-y to $3.37 mil for 1QFY2025 from forex losses and higher income tax
Thakral Corporation has reported a lower net profit of $3.37 million for the 1QFY2025 ended March 31, 2025, down 4.9% y-o-y.
The group&rsquo s profit before interest and tax, which accounts for profit before foreign exchange loss and gain, came in 27.6% y-o-y higher for the quarter at $6.34 million.
The group&rsquo s profitability was impacted due to losses in foreign exchange and higher income tax.
Revenue for 1QFY2025 came in 26.6% y-o-y higher at $76 million.
The group says that revenue for its lifestyle business grew to $74 million for 1QFY2025, up 27.7% y-o-y. This is due to demand for its portfolio of beauty and fragrance brands which remained strong across China, Hong Kong and Macau.
Share of profit from associates rose 80.7% y-o-y to $3.2 million led by higher contributions from the group&rsquo s investments segment, particularly GemLife and its commercial properties in Japan.
The group&rsquo s average occupancy across its commercial properties in Japan came in at over 96% as at end March.
For the quarter, gross profit rose 16.1% y-o-y to $12.9 million but gross margin declined to 17% due to volume sales. Operating profit declined mainly due to Nespresso&rsquo s operational and staffing costs.
The group&rsquo s cash and bank balances declined 14% q-o-q to $10.9 million due to the partial settlement of accrued expenses and increase in other receivables.
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Secret_Squirrel
Elite |
30-Apr-2025 19:32
Yells: "Stay curious but skeptical" |
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Thakral_AGM20250430_Preso.ashx Attended AGM this morning. The resolution were passed with strong mandate from the shareholder Regret selling some of this boring stock previously , which outperform my Genting Stock.  Read above AGM presentation together with Joelton' s earlier posting to get a better idea. Also to read the annual report to have a full picture. Seems to have a lot of potential for growth, DYOD.
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Joelton
Supreme |
11-Apr-2025 10:29
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Thakral' s Australian associate GemLife to develop A$428 mil lifestyle resort in Queensland
Thakral Corporation&rsquo s Australian associate GemLife is set to develop an A$428 million ($353.45 million) lifestyle resort in Queensland targeting the over-50s downsizers, according to a release dated Apr 10.
The resort, called GemLife Elimbah, spans 26 hectares, and will feature 404 homes. Each will be with two bedrooms and a multipurpose room. This is GemLife&rsquo s third resort in Moreton Bay, following GemLife Bribie Island and GemLife Moreton Bay.
&ldquo Land lease communities are increasingly appealing, as they offer a low maintenance, secure and relatively affordable option &ndash not to mention the opportunity to live alongside like-minded neighbours, build new social connections and stay healthy through the onsite amenities,&rdquo says GemLife&rsquo s director and CEO Adrian Puljich.
&ldquo We&rsquo re anticipating interest from people across Moreton Bay, the Sunshine Coast and Brisbane, who are looking to downsize to an easy-going and leafy part of the South East that&rsquo s close to everything, from shops and cafes to medical services and transport,&rdquo he adds.
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Joelton
Supreme |
10-Mar-2025 10:16
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More drone applications in South Asia, greater demand for retirement living in Australia to drive Thakral&rsquo s growth
The biggest contributor to the company&rsquo s earnings comes from its associate GemLife, a resort living developer targeting retirees
[SINGAPORE] Drone manufacturer DJI has been running tests in the Himalayan mountain range in Nepal, with unmanned aerial vehicles that could remove debris &ndash which increases the risk of an avalanche &ndash left behind by climbers on Mount Everest.
The growing number of drone applications has helped boost the earnings of Thakral Corporation : AWI +3.85%, a diversified company that distributes electronics and lifestyle products including those of DJI, as well as invests in property.
And its chief executive officer, Inderbethal Singh Thakral, is confident that its distribution of DJI drones in South Asia will continue to drive growth.
&ldquo Drones are (covering) such a vast area. For us, every new application means more revenue in the future &ndash so we are very excited about this whole space,&rdquo Bethal, as he is popularly known, told The Business Times in an interview.
Besides environmental monitoring, drone applications are increasing in other sectors as well, including surveillance for mining and energy companies, as well as last-mile delivery for pharmaceutical firms.
&ldquo DJI is very good at product development, and it&rsquo s very good at getting its products up and taking the full market share once they launch,&rdquo Bethal added.
Thakral&rsquo s revenue from the sale of drones in South Asia jumped 39 per cent in FY2024 to S$151.9 million, from S$109.1 million in the previous financial year, its earnings release on Feb 27 indicated.
This was the biggest jump in revenue among the company&rsquo s business segments in the period. Overall, the group reported S$288.8 million in full-year revenue, a 36 per cent year-on-year rise from S$212.3 million.
Real estate investments
However, the biggest contributor to Thakral&rsquo s net profit came from its investments in its associate GemLife, a resort living developer targeting retirees in Australia.
Thakral&rsquo s share of profits from its associates came in at S$22.5 million for FY2024, down 35.2 per cent from the S$34.8 million in FY2023. But this was mainly because it reduced its stake in GemLife to 31.7 per cent as part of a restructuring exercise.
The company&rsquo s full-year net profit more than trebled to S$28.8 million from S$8.2 million over the same period.
Therefore, Bethal has also identified this segment as a major growth driver for Thakral in the coming years.
&ldquo A lot of smart capital is being used, and that&rsquo s why our returns are very strong.&rdquo
&mdash
Inderbethal Singh Thakral, CEO of Thakral Corporation
This goes with the philosophy the company has held since it was founded in 1905 &ndash which is to make money from trade and park the profits in property, the CEO said.
He also noted that in Australia, listed competitors in the resort living space have a price-to-earnings ratio of about 22, whereas Thakral&rsquo s is at around 3. &ldquo That&rsquo s a far cry, right?&rdquo he added.
This is despite Thakral&rsquo s share price rising more than 30 per cent over the last year. The counter finished at S$0.81 last Friday (Mar 7).
GemLife has started development on 12 resorts, with some 1,800 units already occupied as at December 2024. There are 6,500 homes in the pipeline that Bethal hopes to sell by 2033.
What separates this investment from conventional real estate developments is the lower amount of capital required. While GemLife constructs the necessary foundation, the actual house is built only after it is purchased by a buyer.
&ldquo That also reduces our risk profile, while (letting us) grow with a smaller balance sheet. So a lot of smart capital is being used, and that&rsquo s why our returns are very strong,&rdquo said Bethal.
&ldquo This business model is very unique. You make your normal developer&rsquo s profit when you construct the product&rdquo , and then gain recurring income from weekly management fees, he added.
GemLife had to pause its sales as demand was outstripping supply, but it recently restarted them.
Thakral first invested in the developer nine years ago, while it was exploring ways to stabilise its earnings and create value.
&ldquo GemLife is definitely a value creation right now,&rdquo Bethal said.
Lifestyle and other investments
As for Thakral&rsquo s fragrance distribution business in China, Hong Kong and Macau, Bethal said there was plenty of room to grow, since the company currently occupies a small and niche share of a very large market.
While sales slowed down in the last few years due to the Covid-19 pandemic, they are picking up again in China with more funds entering the market.
&ldquo It&rsquo s nothing close to saturation &ndash we haven&rsquo t even tested the waters. That&rsquo s why we are quite confident in our business model, that we&rsquo re in the right place,&rdquo said Bethal.
Thakral also launched a new investment arm during the pandemic to explore investing in frontier technologies. It has injected capital in two climate tech startups as well as a tokenisation venture, among others.
However, the company has decided to ringfence these investments for now, as its other business segments are hungry for capital, Bethal said. He added that Thakral has also adopted a wait-and-see approach.
&ldquo If we have an exit, then we can go and recycle the capital there. But more or less, for now, (we&rsquo ll just park the funds where) they are.&rdquo
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Joelton
Supreme |
28-Feb-2025 11:26
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Thakral&rsquo s FY2024 earnings surge to seven-year high of $28.8 mil
Thakral Corporation has reported earnings of $28.8 million for the FY2024 ended Dec 31, 2024, 3.5 times higher than its FY2023 earnings of $8.2 million. The 252% y-o-y surge also marked the highest set of earnings in seven years.
Earnings per share (EPS) stood at 22.53 cents on a fully diluted basis, up from last year&rsquo s EPS of 6.4 cents.
FY2024 revenue rose by 36% y-o-y to $288.8 million as revenue from the investment and lifestyle segments rose.
Revenue for Thakral&rsquo s lifestyle segment grew by 37.4% y-o-y to $273 million as its beauty and fragrance business in Greater China continued to see strong demand for the group&rsquo s portfolio of brands.
The group&rsquo s drone and drone related distribution business, including accessories, digital action cameras, gimbals and other products from DJI, which also falls under this segment, gained &ldquo significant momentum&rdquo in South Asia. The region has seen expanding use cases and applications for drones across various sectors including enterprise, agriculture, construction and cartography. The region also saw higher demand for drones and accessories used in cinema, broadcasting, journalism, and the blogging ecosystem.
Thakral&rsquo s investment segment also saw higher revenue of $15.8 million, 16.3% higher y-o-y, mainly due to GemLife. The group&rsquo s over 50s lifestyle resorts venture saw strong demand and sales as it settled 355 homes in 2024 and attained 1,804 homes occupied.
The group also recorded an unrealised fair valuation uplift and dividend and interest accruals of some $7.5 million on its equity stake and debt instruments in The Beauty Tech Group (formerly CurrentBody.com Limited) in the year.
In FY2024, profit from operations grew by 56% y-o-y to $23.9 million.
&ldquo FY2024 has been a strong year for us both in terms of results and embarking on Thakral&rsquo s new growth initiatives. GemLife continues to drive growth capitalising on the increasing ageing and retiree population of the country. We have a clear roadmap to deliver 6,500 homes by 2033. As we hit critical mass, the group will be able to enjoy a sizeable recurring income from the weekly site fees,&rdquo says Inderbethal Singh Thakral, group CEO and executive director.
He adds that the group&rsquo s beauty and fragrance business in Greater China continues to be a &ldquo key driver&rdquo of its lifestyle segment. &ldquo With the expansion of retail stores for our portfolio of brands in 2025, we remain confident in the long-term potential of this market,&rdquo he notes.
&ldquo In South Asia, we are strengthening our position in the drone sector by increasing our stake in Skylark Drones to 23%. This investment will enable the launch of advanced software designed to complement and enhance the performance of our expanding portfolio of enterprise and agricultural drones, in turn driving demand,&rdquo he adds.
Thakral has proposed a final dividend of 2 cents, bringing its total FY2024 dividend to 4 cents. The year&rsquo s dividend translates to a yield of 6% as at Dec 31, 2024.
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Joelton
Supreme |
21-Feb-2025 12:10
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Thakral&rsquo s association GemLife gets approval to develop A$450 mil vertical land lease community in Gold Coast
Thakral Corporation&rsquo s association GemLife has received approval to develop Australia&rsquo s first vertical land lease community at Currumbin Waters, Gold Coast, for A$450 million ($384.12 million).
The vertical resort is designed to meet the demand for &ldquo high-quality over-50s living&rdquo , according to the filing on Feb 20. This development features six three-level buildings and one four-level building, offering 205 three-bedroom apartments which span 13.85 hectares.
The community will feature a multi-million dollar country club with amenities like a cinema, bowling alley, indoor pool with spa, gym, lounge among others.
The lifestyle resort is anticipated to launch to market this year.
GemLife director and CEO Adrian Puljich said there was significant demand for quality over 50s living on the southern Gold Coast.
&ldquo We are thrilled to have the green light for the project and will be working to bring it to the market as soon as possible, to help fill a shortage of supply for relaxed yet elevated over-50s apartments on the Gold Coast. The development will raise the bar for this style of living and, as our first apartment village, is an exciting addition to our portfolio of communities across Queensland, New South Wales and Victoria,&rdquo he adds.
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Trainner
Master |
06-Feb-2025 19:11
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The company has been giving out 4cts div yearly, based on today' s closure, it is still at 5.5% which is better than many REITs. We should just hold on to the shares and see the outcome of The Beauty Tech Group........ I am happy to hold on to this stock.... 
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Joelton
Supreme |
06-Feb-2025 11:39
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Thakral says it is &lsquo unable to comment&rsquo on reported GBP350 mil IPO valuation of UK&rsquo s The Beauty Tech Group
Thakral Corporation, which owns an effective interest of 9.4% in UK-based The Beauty Tech Group, issued a clarification announcement on Feb 5 following reports that the latter is working on plans to list on the London bourse later this year. Thakral owns the stake through its investment in the group&rsquo s parent company, Project Glow Topco. The Beauty Tech Group owns brands such as CurrentBody Skin, Ziip and Tria. CurrentBody Skin&rsquo s LED mask has been used by celebrities such as reality TV star Kim Kardashian and professional tennis player Serena Williams.
On Feb 4, Sky News and other media outlets said that The Beauty Tech Group was working with German-headquartered bank Berenberg to list its shares on the main London market. Citing sources, Sky News added that the listing could value The Beauty Tech Group at GBP350 million ($590.7 million), although details such as the size of the primary share sale were not confirmed yet.
In its Feb 5 statement, Thakral noted that the valuation of its stake in The Beauty Tech Group has not been finalised yet. As such, it is unable to comment on The Beauty Tech Group&rsquo s GBP350 million valuation.
The group was also unable to confirm the veracity of The Beauty Tech Group&rsquo s IPO news, saying that based on the information it received, The Beauty Tech Group was &ldquo considering its strategic options, which may include an IPO&rdquo .
As at Dec 31, 2023, Thakral&rsquo s carrying value of its 9.4% stake is $9.4 million. Should the IPO take place with the reported valuation of GB350 million, Thakral' s stake in the company would be worth $55.6 million. As at Feb 5, Thakral' s shares closed flat at 67 cents, implying a market capitalisation of $85.67 million.
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SmallSmall
Supreme |
06-Feb-2025 09:10
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Based on Thakral total number of shares of 127.87 mil, if we take in the IPO valuation surplus of $46.2 mil ($55.6 minus book value of $9.4 mil), that would translate to an additional $0.36 per shares. Without taking this additional potential windfall from the IPO, Thakral' s NAV is already $1.1951. Only on SGX can you find such unvalued shares. Sad but true
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SmallSmall
Supreme |
06-Feb-2025 09:06
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Thakral says it is &lsquo unable to comment&rsquo on reported GBP350 mil IPO valuation of UK&rsquo s The Beauty Tech Group
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ahberngh
Elite |
01-Feb-2025 11:20
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It is interesting to note, if I recall correctly, that China Yuchai owns 12% of Thakral. |
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