Boustead Singapore

maybe certain dbl properties probably were granted call option to the lessee?

I cut half of my stake for Boustead today. Going to sell off others with hopefully better prices next week!

Good news from Boustead anyway on new DBL contract won. Selling reason for me is simple, order book for real estate division is too low compared to last year. The P&L impact should come in this year.

Nonetheless, this is still a good stock (fantastic management) to keep in the long run. It is just that I need to rebalance my exposure to equities as I am not in favour in the market developments (although greek and us problem temporarily averted).

(22-07-2011, 05:35 PM)mrEngineer Wrote: Good news from Boustead anyway on new DBL contract won. Selling reason for me is simple, order book for real estate division is too low compared to last year. The P&L impact should come in this year.

Yes, the contract announced today was from Continental Alloys (See attached). This brings total leased floor area to >90,000 sqm.

Just for info - the DB&L recurring revenue "jump" will also only be reflected from FY 2012 onwards, so this will offset the "lumpy" revenues from the lower D&B contracts for Boustead Projects. And since Boustead Projects is now 100% owned instead of being partially 91.7% owned for part of FY 2011, this may also have some impact on P&L.

Hi all,

Anyone can help to enlighten me on the following:
In AR 2011, page 91, the allowance for doubtful receivables was about S$32M,
However, in page 116, the allowance was stated to be about S$15M.

why is there a huge difference?

Thanks.
VS

another 16 million included in the net loss on restructuring of a joint venture.

(02-08-2011, 08:21 AM)freedom Wrote: another 16 million included in the net loss on restructuring of a joint venture.

Hi Freedom,
Thanks for the info.

Some doubts after reading through the AR:
1. Notice that Boustead has about $6M in Credit Linked Note, is it the same as Minibonds?
http://en.wikipedia.org/wiki/Credit-linked_note
2. The total rental income stated in financial statement is about $8M, but in investment properties section, it is less than 1M?

VS

(02-08-2011, 10:33 AM)valuestalker Wrote: Hi Freedom,
Thanks for the info.

Some doubts after reading through the AR:
1. Notice that Boustead has about $6M in Credit Linked Note, is it the same as Minibonds?
http://en.wikipedia.org/wiki/Credit-linked_note
2. The total rental income stated in financial statement is about $8M, but in investment properties section, it is less than 1M?

VS

Hi,

1. This is part of their Cash Management program - the $6 million is invested in high-grade liquid corporate bonds. These give decent yield with minimal risk.

2. Which section did you see this? Perhaps you can try emailing the IR or Keith Chu on your query.

actually bond itself, is not all evil, but minibond is bad because its form/structure is not good.

Quote:2. The total rental income stated in financial statement is about $8M, but in investment properties section, it is less than 1M?

Part of the rental income is derived from "investment properties" as pointed out, and the other part is from "properties held for sale". This is the explanation from Note 2, Pg. 76.

The question about the allowances for doubtful receivables is good though. The disparity between the two figures is not explained by the net loss on restructuring of the township project though, since that amounted to only slightly over S$1mn and not S$16mn.

(02-08-2011, 01:13 PM)D123 Wrote:

Quote:2. The total rental income stated in financial statement is about $8M, but in investment properties section, it is less than 1M?

Part of the rental income is derived from "investment properties" as pointed out, and the other part is from "properties held for sale". This is the explanation from Note 2, Pg. 76.

The question about the allowances for doubtful receivables is good though. The disparity between the two figures is not explained by the net loss on restructuring of the township project though, since that amounted to only slightly over S$1mn and not S$16mn.

during AGM, someone asked the same question, that's the reply. MW maybe can confirm on this?