Post Reply
21-40 of 540
Today hit an 15-year high of $4.99.
Something' s brewing?
Something' s brewing?
Hotel Properties issues $220 mil notes at 4.4% per annum to institutional and accredited investors
Hotel Properties Limited (HPL) has issued $220 million in aggregate principal amount of 4.40% notes due 2030 June 10, 2025, under its $1 billion multi-currency debt issuance programme.
The notes were offered in Singapore to institutional investors and accredited inventors. It bears a fixed interest rate of 4.40% per annum payable semi-annually in arrear on June 10 and December 10 in each year.
The net proceeds from the issue of the notes, after deducting issue expenses, will be used for the purpose of refinancing existing borrowings and financing working capital requirements of HPL and its subsidiaries.
DBS Bank, Oversea-Chinese Banking Corporation (OCBC) and United Overseas Bank(UOB) were the joint lead managers for the notes.
On June 10, founder of HPL Ong Beng Seng is reported to be set to plead guilty in court on July 3 for two charges relating to former transport minister S Iswaran.
Ong is accused of abetting Iswaran in obtaining an all-expenses-paid trip to Doha worth about $20,850 in December 2022, and for the alleged abetted obstruction of justice by intentionally aiding Iswaran in May 2023, when the Corrupt Practices Investigation Bureau had begun its probe, by paying $5,700 to Singapore GP for a business class flight ticket from Doha to Singapore.
HPL receives approval to acquire entire strata area of Concorde Hotel & Shopping Mall
Hotel Properties Limited (HPL), through its wholly-owned subsidiary, Luxury Peak, has received approval from the Strata Titles Board, to go ahead with the acquisition of the entire strata area of the Concorde Hotel & Shopping Mall at $821 million.
HPL, through its five wholly-owned subsidiaries, has already owned 95.4% of the property&rsquo s strata area for &ldquo many years&rdquo . The strata area comprises the 407-room Concorde Hotel from levels four to nine of the building as well as 63 of the 98 strata shops in the three-storey retail podium. The total area comes up to 108,510 sq ft.
The remaining strata area will cost around $74.84 million and won&rsquo t have any material impact on HPL&rsquo s consolidated net earnings per share (EPS) and consolidated net tangible assets (NTA) per share based on HPL&rsquo s financial statements for the FY2024 ended Dec 31, 2024.
On Nov 7, 2024, HPL, through Luxury Peak, announced that it acquired Concorde Hotel en bloc for $821 million, which is $1 million above the guide price of $820 million.
The site was launched for tender on Sept 3, 2024.
The sale price works out to $1,804 psf per plot ratio (ppr). This includes the applicable land betterment charge of $213 million based on a redevelopment scheme comprising 40% hotel, 40% residential and 20% commercial use.
No way sure kena objected by residents over there....License can get extend and extend again just like Bolehland casino lah....Go and watch the ch 8 7.30 pm HK drama show you will know.
lifeisgood ( Date: 23-May-2025 10:10) Posted:
|
A casino in the heart of Orchard Rd is obvious.
OBS once planned for a casino on his properties in
Orchard Rd, I believe, but the moratorium on only
2 casinos killed his vision. Is this moratorium over?
OBS once planned for a casino on his properties in
Orchard Rd, I believe, but the moratorium on only
2 casinos killed his vision. Is this moratorium over?
lifeisgood ( Date: 23-May-2025 10:10) Posted:
|
MBS and Genting RWS casiono licenses only renewed for 2-3 years. After that, we should expect more new casions in Singapore. We probably would have more MICE / integrated resort concepts in Orchard Road soon.
HPL if delisted guess Mr Ong BS can give how much exit offer to shareholders?
Like this Changi T5 only when completed only in 2030 plus need some years to welcome tourists to come....
Prepare to hold shares for at least 7 years to get fruits ripe....SH got the patient boh...
Great point! If they get approval for convention use, even better!
lifeisgood ( Date: 21-May-2025 13:27) Posted:
|
Changi new terminal 5 wwhen completed will be able to handle 50 million passengers. I think gahmen is thinking big, we can expect a lot more tourists and visitors coming to Singapore. The master plan probably won' t leave out rejuvenating the half dead Orchard Road.
You go back 10 years and see how much play there was on Capitaland share price, just because of the redevelopment of Icon - Orchard Turn.
And that is just a little Orchard Turn.
Go figure and dream big.
You go back 10 years and see how much play there was on Capitaland share price, just because of the redevelopment of Icon - Orchard Turn.
And that is just a little Orchard Turn.
Go figure and dream big.
finjungle ( Date: 21-May-2025 11:00) Posted:
|
Yeah quite low volume today
ysh2006 ( Date: 21-May-2025 11:14) Posted:
|
The RNAV in the DBS report is $10.
Throw in a discount of 50% to get their current target price of $5
Throw in a discount of 50% to get their current target price of $5
The volume very low 100 200 : 1000 type any time if some big shorter can dump it down . DBS only give $5.00 target price not much meat .? If got exit offer price think somewhere here price only ..
All would depend on the buyers or a consortium of buyers to develop this only ever prime real estate in SG.
lifeisgood ( Date: 21-May-2025 10:18) Posted:
|
$7
blitz99 ( Date: 21-May-2025 08:47) Posted:
|
No one knows but perhaps the stock is moving to the DBS research target price?
limkt009 ( Date: 20-May-2025 19:04) Posted:
|
OBS selling his shares....?
Price staying around $4.50 today
After T + 3 see got force sell or not...
Going up ....