Hong Fok    Last:0.96   -

Technical Analysis-Seasonal Trend

I Did say that... NO Above $1.50 NO SELL

7ocean      ( Date: 23-Apr-2026 14:07) Posted: No Above $1.50 No SELL TikTalk      ( Date: 23-Apr-2026 13:22) Posted: One more mouth swallowed 409,400 shares at $1.05, huge appetite.

 

HCF share buyback limit for today is $1.0731.  If it closes at $1.08, the limit tomorrow will be $1.0794.

 

$1.08 wor

 

Mostly see $1.06 as strong resistance, can it break?

 

The share buy back mandate was passed at the AGM today.  Some small random buyers @ $1.01, HFC might be involved too.  Some voices and unhappiness were raised at the AGM on the renumeration of the Cheong directors and family members.  Prof Mak Yuen Teen was there and challenged the bench mark used by RC on pay.  Not sure if the Cheongs have the appetite/courage to face us again next year.  Hopefully not.   

 

Philips Securities (20) seller @ $1.00  Seems like HFC had made the final share buyback on 27 May for the current mandate which expires on 29 May (T+2). 

DumbMoney      ( Date: 24-Apr-2026 10:47) Posted: Today' s share buy back limit is $1.0511. fruitfulness      ( Date: 23-Apr-2026 19:53) Posted: Huge appetite in company SBB - 512 lots today at $1.03 - $1.04 and multiple x00 lots purchase by keen eye buyers.  Looks promising to surpass $1.10 in the share price! Just hoping good corporate announcement will come by the AGM or shortly after

 

Mgt same thinking as Kohs group - keep lock n key tight

 

Today' s share buy back limit is $1.0511.

fruitfulness      ( Date: 23-Apr-2026 19:53) Posted: Huge appetite in company SBB - 512 lots today at $1.03 - $1.04 and multiple x00 lots purchase by keen eye buyers.  Looks promising to surpass $1.10 in the share price! Just hoping good corporate announcement will come by the AGM or shortly after! TikTalk      ( Date: 23-Apr-2026 13:22) Posted: One more mouth swallowed 409,400 shares at $1.05, huge appetite.

 

Huge appetite in company SBB - 512 lots today at $1.03 - $1.04 and multiple x00 lots purchase by keen eye buyers.  Looks promising to surpass $1.10 in the share price! Just hoping good corporate announcement will come by the AGM or shortly after!

TikTalk      ( Date: 23-Apr-2026 13:22) Posted: One more mouth swallowed 409,400 shares at $1.05, huge appetite.

 

No Above $1.50 No SELL

TikTalk      ( Date: 23-Apr-2026 13:22) Posted: One more mouth swallowed 409,400 shares at $1.05, huge appetite.

 

One more mouth swallowed 409,400 shares at $1.05, huge appetite. 

 

One more mouth swallowed 300,000 shares at 1.05.

TikTalk      ( Date: 23-Apr-2026 09:45) Posted: One more mouth swallowed 371,400 shares at 1.04 TikTalk      ( Date: 23-Apr-2026 09:42) Posted: One mouth swallowed 432,500 shares at 1.03

 

Today' s share buy back limit is $1.04055.  As of yesterday, 14,255,900 is the second highest bought since 2019 when it first started.  Current mandate for 81,929,741 shares expire 29 Apr 2026 ie only 4 more days left.

TikTalk      ( Date: 23-Apr-2026 09:45) Posted: One more mouth swallowed 371,400 shares at 1.04 TikTalk      ( Date: 23-Apr-2026 09:42) Posted: One mouth swallowed 432,500 shares at 1.03

 

One more mouth swallowed 371,400 shares at 1.04

TikTalk      ( Date: 23-Apr-2026 09:42) Posted: One mouth swallowed 432,500 shares at 1.03

 

One mouth swallowed 432,500 shares at 1.03

 

Buyer is KGI Securities Code 01. Actual total quantity is 500,000 shares

TikTalk      ( Date: 22-Apr-2026 10:16) Posted: One mouth swallowed 449500 shares at 1.02 DumbMoney      ( Date: 22-Apr-2026 09:31) Posted: Today' s share buyback cap is $1.0321

 

One mouth swallowed 449500 shares at 1.02

DumbMoney      ( Date: 22-Apr-2026 09:31) Posted: Today' s share buyback cap is $1.03215 TikTalk      ( Date: 22-Apr-2026 09:25) Posted: $1.02

 

Today' s share buyback cap is $1.03215

TikTalk      ( Date: 22-Apr-2026 09:25) Posted: $1.02

 

$1.02

 

Excellent post from sfw2124: logical, thoughtful and very persuasive.  Only one typo/exaggeration.  The current share buy back mandate was approved on 30 April 2025 and the first purchase by the HFC of 800,000 @ $0.73-0.74 was on 19 Nov 2025 (see SGX announcement).  On the 24 Nov 2025, it bought back the most shares, 841,000 @ $0.76-0.775.  There is no record of any single day purchase of 1.3m shares for the current mandate, let alone often.

In 2007, HCF paid a special dividend for $0.06, likely due to some changes in accounting rules (can' t remember what now), and promptly announced a NON renounceable 1 for 10 rights issue @ $0.60, to somehow " claw" the money back.  So, temper any hopes for special dividends even when there is an en-bloc sale or asset divestment.  The Cheongs gave and the Cheongs taketh.

The so-called " shame and conscience" of the Cheong family on remuneration is well-discussed and documented.  The only difference now is that Father time is siding with us minority shareholders, nudging the elderly Cheongs to do right by the minority sharesholders.  Naked you come, naked you go.

finjungle      ( Date: 17-Apr-2026 11:51) Posted: It's so heartening to read all the latest posts. The price has creeped up but the company is owned principally by a family who has no shame and the conscience to remunerate themselves heartily. The family could continue do this and there's no need to carry out any corporate action. Who is here to put a stop to these greed? sfw2124      ( Date: 17-Apr-2026 11:32) Posted: The " Deep Value" play for Hong Fok (H30) is effectively a bet on the *re-rating of its asset base*, which is currently valued by the market at a steep 73% discount to NAV. If your primary hope is for the divestment of older assets to unlock this value, the current 2026 landscape shows several strategic moves in that direction. ### 1. The " Divestment by Consolidation" Strategy Management has been quietly making its older assets " sale-ready." * *International Building (Orchard Road):* This is the most significant catalyst. In late 2024 and throughout 2025, Hong Fok moved to acquire the remaining strata units it didn' t already own (#01-02 to #01-06).      * *Why this matters:* Historically, strata-titled buildings are difficult to sell or redevelop. By consolidating ownership, the building is now a prime candidate for an *en-bloc sale* or a major redevelopment at the heart of Orchard.     * *Market Context:* With current commercial land betterment charges seeing only marginal increases (0.5%), the timing for a high-value divestment or redevelopment of a freehold asset like this is improving. ### 2. Family-Level Activity: A Lead Indicator? As a " Deep Value" investor, keep a close eye on the *Cheong family&rsquo s* private moves, as they often precede corporate shifts: * *Holland Piazza Sale:* In March 2026, a member of the Cheong family (Cheong Sim Lam) bought *Holland Piazza* for S$100 million. * *Asset Liquidity:* While this was a personal purchase, it highlights the family' s active engagement in the Singapore high-end commercial market. Often in family-run firms like Hong Fok, private liquidity needs or estate planning can trigger a corporate decision to divest " non-core" older assets to pay out a special dividend or fund new ventures. ### 3. FY2025 Financial Signals The FY2025 results (released Feb 2026) show a subtle shift in how they view their portfolio: * *Revaluation Gains:* A *S$16.2M gain* on investment properties suggests that despite global wars and high rates, the underlying value of their " old" assets is rising, not stagnating. * *Cash Flow Focus:* Management has explicitly stated a priority on " refining the portfolio for higher-quality revenue." This is corporate-speak for moving away from older, maintenance-heavy units toward more efficient holdings. ### 4. The Share Buyback " Mandate" The most aggressive signal right now isn' t a sale, but the *buyback intensity*. * *Activity:* In the first quarter of 2026 alone, Hong Fok has been one of the most active mid-cap companies on the SGX for buybacks, often picking up over *1.3 million shares* in single tranches at prices around S$0.82&ndash S$0.98. * *Strategic Intent:* Buybacks at a 70% discount to NAV are mathematically superior to almost any other investment. By reducing the share count now, management ensures that if they do divest a major asset later (like the International Building), the " per-share" windfall for remaining shareholders will be significantly larger. --- ### Potential " Post-War" Revenue Catalyst If the geopolitical tensions (Ukraine/Middle East) stabilize: * *YOTEL Singapore Orchard:* This is their " swing" asset. Unlike fixed-rent offices, hotel revenue scales instantly with travel recovery. Management has indicated they expect YOTEL to be a primary driver of cash flow in the latter half of 2026. * *Inflation Pass-Through:* As a landlord of prime Orchard and Beach Road space, Hong Fok has the leverage to pass through inflationary costs to tenants upon lease renewals, which will likely show up in the 2H 2026 and FY2027 revenue figures. *The Risk:* Hong Fok is notoriously slow to act. The " Value" is undeniably there at *S$3.65 NAV*, but the " Unlock" requires management to finally let go of a " crown jewel." DYOD