GL Limited (formerly: Guoco Leisure)

(29-07-2012, 07:44 AM)chaosdiablo Wrote: UK is still in recession and property price is dropping....NAV should reduce as valuation drop if I am right........

Only consider this if it drops further....

(28-07-2012, 11:53 PM)Stocker Wrote: You are right, why should all these analists be so kind to us and not to their big clients ?
Looks like the only catalyst of this stock is the purchases by QLC , otherwise price and trading will remain dull despite deep discount to NAV.

Nope you are wrong. Its stated very clearly in the annual report that the Hotel assets are classified under PPE.

The company has also not booked in any revalution surplus into the balance sheets for the past years as hotel assets classified under PPE are not required to be revalued for the purpose of measuring revalution surplus but for impairment or depreciation only.

As the hotel assets were bought many years ago, the cost of those hotels are very low. If they were to be marked to market, it would be worth at least twice than what is stated on the books.

---

(28-07-2012, 11:53 PM)Stocker Wrote: You are right, why should all these analists be so kind to us and not to their big clients ?
Looks like the only catalyst of this stock is the purchases by QLC , otherwise price and trading will remain dull despite deep discount to NAV.

Im sure it will go up, occuapancy for Guoman brand hotels are 99% this weekend. Give them a call and ask for a room

Last AGM, management confirmed the value of the hotels should be more than duoble of what is stated on BS.

Yup, confirmed by what I read on the annual report!

When I say NAv drop, I mean drop as compare to previous year or quarter if the hotels value are valued quarterly or yearly.......if I am right, UK property is still dropping.........

(29-07-2012, 09:45 AM)propertyinvestor Wrote:

(29-07-2012, 07:44 AM)chaosdiablo Wrote: UK is still in recession and property price is dropping....NAV should reduce as valuation drop if I am right........

Only consider this if it drops further....

(28-07-2012, 11:53 PM)Stocker Wrote: You are right, why should all these analists be so kind to us and not to their big clients ?
Looks like the only catalyst of this stock is the purchases by QLC , otherwise price and trading will remain dull despite deep discount to NAV.

Nope you are wrong. Its stated very clearly in the annual report that the Hotel assets are classified under PPE.

The company has also not booked in any revalution surplus into the balance sheets for the past years as hotel assets classified under PPE are not required to be revalued for the purpose of measuring revalution surplus but for impairment or depreciation only.

As the hotel assets were bought many years ago, the cost of those hotels are very low. If they were to be marked to market, it would be worth at least twice than what is stated on the books.

---

(28-07-2012, 11:53 PM)Stocker Wrote: You are right, why should all these analists be so kind to us and not to their big clients ?
Looks like the only catalyst of this stock is the purchases by QLC , otherwise price and trading will remain dull despite deep discount to NAV.

Im sure it will go up, occuapancy for Guoman brand hotels are 99% this weekend. Give them a call and ask for a room

(29-07-2012, 01:28 PM)chaosdiablo Wrote: When I say NAv drop, I mean drop as compare to previous year or quarter if the hotels value are valued quarterly or yearly.......if I am right, UK property is still dropping.........

(29-07-2012, 09:45 AM)propertyinvestor Wrote:

(29-07-2012, 07:44 AM)chaosdiablo Wrote: UK is still in recession and property price is dropping....NAV should reduce as valuation drop if I am right........

Only consider this if it drops further....

(28-07-2012, 11:53 PM)Stocker Wrote: You are right, why should all these analists be so kind to us and not to their big clients ?
Looks like the only catalyst of this stock is the purchases by QLC , otherwise price and trading will remain dull despite deep discount to NAV.

Nope you are wrong. Its stated very clearly in the annual report that the Hotel assets are classified under PPE.

The company has also not booked in any revalution surplus into the balance sheets for the past years as hotel assets classified under PPE are not required to be revalued for the purpose of measuring revalution surplus but for impairment or depreciation only.

As the hotel assets were bought many years ago, the cost of those hotels are very low. If they were to be marked to market, it would be worth at least twice than what is stated on the books.

---

(28-07-2012, 11:53 PM)Stocker Wrote: You are right, why should all these analists be so kind to us and not to their big clients ?
Looks like the only catalyst of this stock is the purchases by QLC , otherwise price and trading will remain dull despite deep discount to NAV.

Im sure it will go up, occuapancy for Guoman brand hotels are 99% this weekend. Give them a call and ask for a room

Nope, there is no drop to the NAV. The hotels are not even revalued nor has there been any revaluation surplus to begin with. There is no need to revalue the hotels as it is not classified as investment properties. Its the same like Bukit Sembawang or City Developments where their landbank is stated at historical cost and not revalued to factor in revalution surplus. Its all stated at HISTORICAL COST less depreciation. And their historical cost is the cost they got it at form many years ago.

And you need to update yourself on London properties. Their prices are NOT dropping. Thanks to massive QE by Bank of England

Seems ok....but there are no catalysts currently...

I think catalysts will be such that if QLC want to privatise it, or sell the hotels to unlock value or put the hotels into a reit......

We have seen stocks such Orchard Parade unlock it values by putting its hotel into reit and it share price soar.........and I view St****** better currently as they have the intention to sell the hotels, or put into a reit etc..........

no way will QLC put the hotels in the REIT. These are valuable assets which QLC spend so many years trying to accumulate. He will never divest them away or put it into the hands of other people.

Maybe, At the most, its just a temporary transfer of lease or economic benefits to a reit vehicle.

Guocoleisure also has an oil royalty investment that generates significant cashflow of USD 35- 45millions for the group to acquire more hotels under the thistle brand should the opportunity arrives

Bought 50,000 shares at 0.58 minutes ago. Counter parties were Phillip, UOBK, KimEng. Some they just thrown to me 1,000 shares.

I bought mine last week at 57.5-58.5. Queuing today at 57.5 and 58 (partial done 7 lots from UOB, Amfraser and Kim Eng)

(30-07-2012, 10:43 AM)propertyinvestor Wrote: I bought mine last week at 57.5-58.5. Queuing today at 57.5 and 58 (partial done 7 lots from UOB, Amfraser and Kim Eng)

Looks like the selling today are not from the BBs.