Metro Holdings

He takes one cent per share first, too much.

pianist Wrote:for jopie ong's pay, i tot it wasnt challenged fervishly

It doesn't matter. Unless you own enough stock to control the company, you can only take it (stay invested) or leave it (sell).

That's the reason why reputable institutional investors not very keen to invest in this counter.

(26-07-2012, 05:53 PM)cfa Wrote: He takes one cent per share first, too much.

I think that is too much too....especially after the sale of the building, it will not contribute to the bottom line......

about their metro city shanghai retail building at xujiahui just atop the tube station, the remaining lease before returning to the municipal govt partner is 17 years. Can someone enlighten me, according to the CFO, the valuation of this property will keep reducing in line with the shortening lease, so in the last year of the useful lease, it will be nearly 'zero' (which means NAV reported will be smaller as each year goes). I just wonder if this is a fair method to value such property?

or does it mean that in the 16th year from now, the valuation reported in the AR will not truely reflect the much higher real value in this prime location?

If I'm not wrong, when the lease expires, and is not re awarded to metro, the building will be worthless.

Yes , Metro will no longer own the building, if the lease is not extended.

(27-07-2012, 08:07 PM)psolhawk Wrote: If I'm not wrong, when the lease expires, and is not re awarded to metro, the building will be worthless.

this may turn out to be an interesting play..what is the chance that expiry lease fo such property will not be re-awarded? maybe we can look at some historical statistics to make a calculated bet.

PRC Gov. has a good track records of taking back properties and assets from the private sectors, moreover nothing worng for them to take back because the properties are on leasehold land.
This is applicable to all leasehold properties in almost every country, afterall what is the meaning of leasehold ?

Thats why I say Metro is lousy. I wonder why nobody brought up the management pay again.