Perennial Hldgs   

Perennial makes weak debut on SGX

Short sellers got fried. High goes higher :) Do not short this one.

 

Agree that this is undervalued......but short term no catalysts, in longer term when assets in high speed rail completed construction, share price will shoot up....hence if there is any offer to delist, we should not accept it...........

They are also into tcm, medical........a gem 3-5 years later......

 

TheBearProwl: Perennial Real Estate Holdings Limited is Undervalued with 400% Upside

https://www.drwealth.com/thebearprowl-perennial-real-estate-holdings-limited-is-undervalued-with-400-upside/

Come along with this article. Share with you all.

 

if delist at low, will leave singapore market for good....valuation too low here........

 

 

if delisted for cheap is like slapping and spitting on sgx mas face

remember the recent changes in delisting rules

lol lets see if sgx and mas is going to live up to it

or if it is a joke

got a feeling it is a joke and slapping and spitting is gonna happen like 70% chance

 

If exclude the substantial owners, the free float should beabout 20%.  I still think current price is still relatively undervalued.

Ownership info from SGX.

Main Shareholders	Type	Holdings Date	Percent of shares held	Number of shares held	Change	Turnover rating
Kuok (Khoon Hong Edward)	Individual Investor	20-Nov-19	36.46%	607,031,816	636,800	LOW
Wilmar International Ltd	Corporation	4-Mar-19	20.00%	333,028,874	0	LOW
Sim (Chye Hock Ron)	Individual Investor	4-Mar-19	15.42%	256,711,699	0	LOW
PSG Holdings Pte. Ltd.	Corporation	14-May-20	7.23%	120,394,270	0	LOW
Longhlin Asia Ltd.	Corporation	4-Mar-19	0.71%	11,747,349	0	LOW
Top 5 shareholders			79.81%

Insider Trades from SGX
20-Nov-2019
HPRY Holdings Limited (Mr Kuok Khoon Hong)
636,800 shares
S$0.5204 per share

22-Jul-2019
HPRY Holdings Limited (Mr Kuok Khoon Hong)
100,000 shares
S$0.61 per share

12-Jun-2019
CEO, Pua Seck Guan
103,100 shares
S$0.6282 per share

22-May-2019
CEO, Pua Seck Guan
339,100 shares
S$0.624 per share

13-May-2019
Longhlin Asia Limited (Mr Kuok Khoon Hong)
80,000 shares
S$0.64 per share

09-May-2019
Longhlin Asia Limited (Mr Kuok Khoon Hong)
32,500 shares
S$0.64 per share

March 2019
Several Stock options to CEO/directors to subscribe at S$0.68 per share

 

any chance yanlord will go  up too ?

 

What about RNAV of PREH??? Or it is already updated every year........20% discount will be good....

 

Based on SGX website, the 2019 reported NAV is $1.54 per share.  I guess even if I discount it by 30% due to Covid19 crisis, the price is stil $1.07.  I think stock is trading at deep discount from what it is worth on the books.
 

 

Hot stock: Perennial shares up 12.1% after disclosure on substantial shareholders mulling options

TUE, MAY 19, 2020 - 10:38 AM

PERENNIAL Real Estate Holdings saw its shares surge 12.1 per cent on Tuesday shortly after the market opened.

The property developer' s shares rose to a high of S$0.65 as at 9.28am on Monday, up 12.1 per cent or S$0.07. This was before they retraced to 62.5 Singapore cents as at 10.14am, up 4.5 cents or 7.6 per cent from Monday' s closing price of S$0.58.

The share surge comes as Perennial  disclosed on Monday night that certain of its substantial shareholders are  reviewing options regarding their holdings  in the company.

" The company understands that a decision has yet to be made by such substantial shareholders, and there is no assurance that a transaction will take place," Perennial said in the regulatory update. 

As at March 31, Perennial chairman Kuok Khoon Hong holds the largest stake in the company at 27.9 per cent. Next is Wilmar International, which holds a 20 per cent stake, followed by Sim Chye Hock at 15.3 per cent, and chief executive Pua Seck Guan at 10.4 per cent.

The company counts Mr Kuok, vice-chairman Ron Sim, who is also chairman of V3 Group, Wilmar and Mr Pua as its key sponsors.

https://www.businesstimes.com.sg/companies-markets/hot-stock-perennial-shares-up-121-after-disclosure-on-substantial-shareholders

 

any more news regarding delisting??????

 

U see if u dun jolt them, tey take things for granted but jus move up a bit. At least P doing much better than Y

NL0261      ( Date: 07-May-2020 16:58) Posted: btw, the situation is just the the same with the joint venture of Perennial Yanlord partnership. Disappointing ! NL0261      ( Date: 07-May-2020 16:50) Posted: Managed to lock-in profits for some property deals but, so what? The share price has not been moving for donkey years.

 

Price jump due to substantial shareholders mulling options for their stakes: Perennial

MON, MAY 18, 2020 - 11:26 PM

PERENNIAL Real Estate Holdings, the share price of which added S$0.075 or 14.9 per cent to S$0.58 on Monday, said in an evening disclosure that it  has been notified that some substantial  shareholders are reviewing the options in relation to their holdings in the property company.

" The company understands that a decision has yet to be made by such substantial  shareholders, and there is no assurance that a transaction will take place," it added.

 

PERENNIAL Real Estate Holdings, the share price of which added S$0.075 or 14.9 per cent to S$0.58 on Monday, said in an evening disclosure that it  has been notified that some substantial  shareholders are reviewing the options in relation to their holdings in the property company.

" The company understands that a decision has yet to be made by such substantial  shareholders, and there is no assurance that a transaction will take place," it added.

 

Looks like privatisation is being considered by the majority shareholders from the announcement over sharp price increased.

 

Shareholders' loan in AXA Tower deal with Alibaba amounts to S$364.7m: Perennial

THU, MAY 14, 2020 - 9:36 AM

IN response to the Singapore Exchange' s (SGX) queries, Perennial Real Estate on Wednesday night disclosed that the shareholders' loan, half of which will be transferred to Alibaba Singapore, has S$364.7 million outstanding.

The subsidiary of Chinese e-commerce giant Alibaba Group is looking to acquire  50 per cent equity interest in AXA Tower  from a Perennial-led consortium, before the parties form a joint venture to redevelop the building.

The consideration payable for the half stake will be calculated based on the net asset value of Perennial Shenton Holding Pte Ltd (PSHPL) - which indirectly owns AXA Tower - at the deal' s close, and based on an agreed property value of S$1.68 billion.

Meanwhile, the consideration for the transfer of half of the shareholders' loan to Alibaba Singapore will be 50 per cent of the principal outstanding as at closing, Perennial had announced on May 6 without disclosing the size of the loan.

 

Aside from Perennial Real Estate, the other investors in the existing consortium - which is named Perennial Shenton Investors (PSI) - include Singapore Press Holdings (SPH), HPRY Holdings and Piermont Holdings.

With the consortium' s half stake in PSHPL sold to Alibaba, the remaining half of shares as well as the other half of the shareholders' loan will be transferred to a new consortium (NewCo) made up of the same investors in the initial PSI consortium but with different shareholding proportions.

Asked by SGX about the rationale for the formation of NewCo, Perennial said NewCo was formed to address the changes in shareholding proportions, as the existing consortium' s shareholders have different risk appetites and investment limits to invest in the redevelopment project.

In addition, the stake sale involves providing the usual indemnities and warranties, and due to the changes in shareholding it is necessary to separate the investment entity for the redevelopment from the existing PSI consortium, which is the seller and taking on the warranties and indemnities to Alibaba Singapore.

 

Perennial on Wednesday also said it will use the net cash proceeds from selling its net 21.2 per cent interest in AXA Tower to pare the company&rsquo s borrowings.

The company responded to SGX that it will receive about S$196.4 million in net proceeds from the 31.2 per cent stake sale, based on the balance sheet as at Dec 31, 2019 and the agreed property price of S$1.68 billion.

Afterwards, Perennial will inject about S$58.8 million in cash to own 20 per cent of NewCo which will thus give Perennial a 10 per cent effective interest in the AXA Tower redevelopment project.

The maximum equity required by Perennial for the redevelopment of the project is estimated to be S$114.1 million. This amount depends on the final development plans and the loan-to-value ratio for the redevelopment financing, Perennial told SGX on Wednesday.

The company also  clarified the shareholding proportions  before and after the divestment.


As at 9.10am on Thursday, shares of Perennial dropped S$0.01 or 2 per cent to trade at S$0.49, while SPH shares gained S$0.01 or 0.7 per cent to trade at S$1.50.

https://www.businesstimes.com.sg/companies-markets/shareholders-loan-in-axa-tower-deal-with-alibaba-amounts-to-s3647m-perennial

 

btw, the situation is just the the same with the joint venture of Perennial Yanlord partnership. Disappointing !

NL0261      ( Date: 07-May-2020 16:50) Posted: Managed to lock-in profits for some property deals but, so what? The share price has not been moving for donkey years.

 

Managed to lock-in profits for some property deals but, so what? The share price has not been moving for donkey years.

 

Perennial, SPH consortium to sell half stake in AXA Tower to Alibaba

THU, MAY 07, 2020 - 5:50 AM

Singapore

A CONSORTIUM led by Perennial Real Estate will divest a half stake in Grade A office building AXA Tower to a subsidiary of Chinese e-commerce giant Alibaba Group Holding.

The consortium will also transfer half of an outstanding shareholders' loan to the subsidiary,...

https://www.businesstimes.com.sg/companies-markets/perennial-sph-consortium-to-sell-half-stake-in-axa-tower-to-alibaba-0

 

Trading Halt. Possible Privatization since > 70% in 3 key shareholders?