Chuan Hup Holdings

(03-08-2017, 01:33 PM)TUBInvesting Wrote:

(03-08-2017, 11:54 AM)Scg8866t Wrote:

(03-08-2017, 11:36 AM)TUBInvesting Wrote:

(03-08-2017, 10:59 AM)Scg8866t Wrote: Did CH made a grave mistake by investing in LHGroup/Pacific star and Finbar?

Sorry,but what makes you say that?

Just a hindsight observation since both are languishing way below CH's avg purchase price if i am not wrong.

Just my 2 cents comments.

For Pacific Star Dev, they are still in the money from my previous calculation. 

But for Finbar, it is definitely below CH avg purchase price. However, if you read into Finbar annual report or look at their share buy back, they are will turnaround soon.

Can break down your calculation for Pacific Star Dev for us?

(03-08-2017, 02:08 PM)Scg8866t Wrote:

(03-08-2017, 01:33 PM)TUBInvesting Wrote:

(03-08-2017, 11:54 AM)Scg8866t Wrote:

(03-08-2017, 11:36 AM)TUBInvesting Wrote:

(03-08-2017, 10:59 AM)Scg8866t Wrote: Did CH made a grave mistake by investing in LHGroup/Pacific star and Finbar?

Sorry,but what makes you say that?

Just a hindsight observation since both are languishing way below CH's avg purchase price if i am not wrong.

Just my 2 cents comments.

For Pacific Star Dev, they are still in the money from my previous calculation. 

But for Finbar, it is definitely below CH avg purchase price. However, if you read into Finbar annual report or look at their share buy back, they are will turnaround soon.

Can break down your calculation for Pacific Star Dev for us?

based on my previous post (http://tubinvesting.blogspot.sg/2016/12/...mpany.html) and this link (http://infopub.sgx.com/FileOpen/ChginSha...eID=452329), they converted a loan of $35M into 177,454,800 shares.

Assuming Pacific Star Dev is drops to 0.2 per share, $35.49 Million. Not huge gain. but still in the money. 

Nevertheless, their balance sheet is based on cost plus future share of net profit from pacific star development.

If Pacific Star Dev continues to make money, CH balance sheet will be boosted!

Do take note that before the loan had been converted to Pacific Star Dev shares, Chuan Hup had been getting 8%pa interest on those loans. Therefore, I do think that Chuan Hup should be in the money with regard to their investment in Pacific Star Dev.

Decent 2017 results:

http://infopub.sgx.com/FileOpen/CHHFY201...eID=468733

1c Final dividend + 2c special dividend much appreciated.

Trade and other payables has doubled to about US$115m. Increase in liabilities stated to be due to completion of Concerto project, and almost (but not quite) offset by increase in value of development properties (due to same project).

Chuan Hup trading halt, together with PCI

(04-01-2019, 10:37 AM)Scg8866t Wrote: Chuan Hup trading halt, together with PCI

Interesting outcome. Sale of PCI at 1.33 will give CH a 69mil USD in realised gain which works out to be 10cts per share, but share price today only increased by 2.5cts(market factoring in dead money). If the scheme is successful, knowing CH and Mr peh who are fair to OPMIs, they would likely share some of the gains with us via special div in 2019. My guess is maybe a repeat of 3cts per share of div(include special) which means 140mil of proceeds from PCI to fund new business, own view.

New NTA post PCI sale will be 52.4cts(25% increase). Almost 30cts of net cash per share. Time to wait and see whats the next step for Chuan Hup. Mr Peh is a shrewd investor, always selling at the peak. CH Offshore and now PCI. See how it goes.

Acquisition of Office Units at The Central

Chuan Hup Holdings Limited announced that ProVest Holdings Pte. Ltd., it's wholly-owned subsidiary, has on 4 March 2019 accepted an option to purchase issued by Riverhub Pte Ltd, a Singapore incorporated company, for the purchase of the property known as the whole of strata lot U1296C of Town Subdivision 7 with an area of 1239.0 square metres, comprised in Subsidiary Strata Certificate of Title Vol 1272 Folio 125 at 8 Eu Tong Sen Street, #24-89, Singapore (the "Property"), within which several office units known as #24-89/90, #24-91, #24-92 and #24-93, 8 Eu Tong Sen Street, The Central, Singapore are located  for an aggregate cash consideration of S$42,011,550.

The Property is a leasehold property with a lease duration of 99 years commencing on 2 January 2001. The Property has been approved for use as office units.

More details in https://links.sgx.com/FileOpen/ProVestOT...eID=546155

Proposed 9cts special div, thats ard 27% “yield”. CH is finally adequately compensated.

(20-03-2019, 09:14 PM)Scg8866t Wrote: Proposed 9cts special div, thats ard 27% “yield”. CH is finally adequately compensated.

CH is the gift that keeps giving. Having held shares since 2000, there was the magic year of 2005 when there was just over 50c per share in various dividends, more than my cost price per share. As the shares were then effectively free, I held on, and added some over the years for the generally decent dividend yield. So this is icing on the cake.

(22-03-2019, 07:08 AM)Dosser Wrote:

(20-03-2019, 09:14 PM)Scg8866t Wrote: Proposed 9cts special div, thats ard 27% “yield”. CH is finally adequately compensated.

CH is the gift that keeps giving. Having held shares since 2000, there was the magic year of 2005 when there was just over 50c per share in various dividends, more than my cost price per share. As the shares were then effectively free, I held on, and added some over the years for the generally decent dividend yield. So this is icing on the cake.

Yes 10cts of gain from PCI and they paying out 9cts to opmi. Peh family is known to be generous. They are also shrewd businessman, always selling their businesses at the peak. CH Offshore they forced Falcon to up the bid twice before it collapses. Now they selling PCI to a private equity firm at all time high price just when the semi con segment is taking a breather.

However they seem to be pivoting towards a more defensive portfolio with the recent Central office strata purchase coupled with their existing GB building strata both for passive rental income. 

Interesting to see whats next for them.