Tuan Sing
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PRIVATISE AT 50CENTS
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Just passed Robinson Towers last night - seems to be making very good progress and could be one third built up already. Hope they can get more pre-committed tenants when they complete the project by next year. Should then be able to add $20million in revenue annually from the commercial office and retail rental.
They will start previewing Kandis Residence in Sembawang Park soon. Hope demand will be respectable in that rather off the road location. Will keep an eye on the take up rate. But the design and site plan looks stylish and typical tropical lush like the other TS projects. In fact, I would dare say tongue in cheek it's like Cluny Park Residence design at Yishun location and prices hahaha.
If Chevron House which is leasehold and running down its lease is worth $700m, shouldn't freehold Robinson Towers be worth more? Another paradox about this company and its true value not being reflected or appreciated by Mr Market.
Frankly I wouldn't even sell at 50cts if the NTA/NAV is 78cts. This current price is at a ridiculous discount to NTA/NAV. And this is not even the RNAV!!!
waiting to see back the glory days of 2015 and earlier i believe it will go back to its glory days debt is a concern but it will turn around with perfoemance with current good projects on hand
Goldfinger ( Date: 22-Jun-2017 07:26) Posted:
| Robinson Towers now being built up to 8-9 storeys by my own estimate. I monitor the huilding height and progress regularly as I pass by on my way to work. Go take a look if you are a Long term holder. This is the real Crown Jewel in this company. |
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Robinson Towers now being built up to 8-9 storeys by my own estimate. I monitor the huilding height and progress regularly as I pass by on my way to work. Go take a look if you are a Long term holder. This is the real Crown Jewel in this company.
interst paid $34m in fy 2016?....
Robinson Towers can yield $20+million annually in rental alone - they should pay out at least half of that amount as dividends!
soundblaster ( Date: 26-Apr-2017 18:25) Posted:
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I couldn' t make it today - but the AGM presentation slides look quite impressive and Robsinson Towers is on track for end completion next year.
soundblaster ( Date: 26-Apr-2017 13:26) Posted:
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In summary, Indon controlled undervalued property developer trading at 60% discount or thereabouts to NAV with sizeable office, hotel and residential assets, and interests in Golf retail via Panwest, industrial via SPP and PCB circuits via Gultech. Not particularly known to be generous with dividends despite huge profits Nor returning profits to minorities via buybacks.
Bro, what' s the background of this counter about? Care to share a little opinion?
I did notice some movement lately, but no idea what transpired.
soundblaster ( Date: 25-Apr-2017 10:51) Posted:
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CHIONG ARH!!
NAV $0.98...
I enter some 345...follow behind big boys
PLAYERS CHANGING HANDS maybe...
soundblaster ( Date: 13-Apr-2017 09:31) Posted:
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Look good today har?
I think in this case it may be higher due to maximising the value and usage of the land like plot ratios. But overall I think it's not a bad buy given that it's freehold, sizeable and in a nice pleasant green location. And not too far from MRT and Malls.
soundblaster ( Date: 13-Apr-2017 07:31) Posted:
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Apologies - they have to pay development charges to enhance the land use so the effective purchase price is higher. My bad.
Goldfinger ( Date: 12-Apr-2017 22:13) Posted:
I just wonder where they get such " kangtow" from to buy freehold below $600psf in a private sale and where were the other Developers? Even the Toh Tuck 99 year state land tender went for above $800 psf.
soundblaster ( Date: 12-Apr-2017 21:33) Posted:
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Doubt it - best would be handing out more dividends to Long patient minority shareholders!
soundblaster ( Date: 12-Apr-2017 22:40) Posted:
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I just wonder where they get such " kangtow" from to buy freehold below $600psf in a private sale and where were the other Developers? Even the Toh Tuck 99 year state land tender went for above $800 psf.
soundblaster ( Date: 12-Apr-2017 21:33) Posted:
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