Tuan Sing    Last:0.31    -0.005

PRIVATISE AT 50CENTS

TS Just made another property purchase in Bukit Timah - This one freehold for residential in Hillview and at a fairly good price I thought on a psf basis.

 

TS just bought Sime Darby Centre - More than what the previous owner paid a year ago. Good or bad news?

 

Actually, if memory doesn' t fail - they owned 70% of GulTech and it was a listed company.  However, due to losses from unprofitable ops and start up development costs of its China plants, GulTech was bleeding Tuan Sing which had to lend financial support, and there was some bailout of GulTech by the founding family, which then received shares in return.  But, these were events of some 10 years ago? Hence, circumstances could have changed.

I read in the Annual Report that Tuan Sing is thinking of divesting non-core businesses, and stick to property.  Could be timely to attend the AGM to press them to share some of the divestment returns with minority shareholders through a BIG FAT SPECIAL DIVIDEND (but FAT HOPE likely).  haha.

soundblaster      ( Date: 30-Mar-2017 21:53) Posted: --- Post Removed by User ---

 

IMHO - privatise at 50 cents is way too cheap. NAV already 77.7cents and RNAV likely much higher given that Robinson Towers alone once completed in 2018 will be worth > $600millions?? How can this share still trade at 34cents then??

Please attend 26 April AGM as well to press majority owner to increase dividend payouts especially once RT is completed and recurring rental starts flowing in. And to probe on their plans for the Fuzhou and Batam lands..

 

 

soundblaster      ( Date: 30-Mar-2017 19:45) Posted: --- Post Removed by User ---