Wheelock Properties

(05-12-2012, 11:02 PM)toiletsiao Wrote: Think they will unload.... Its one of their most underwhelming investments ever...they are very fortunate to be able to exit with their capital intact... They are very lucky too to avg down another 11mil shares when scglobal is trading at 50 to 60 cents in 2008...scglobal is illiquid wheelock should take this opportunity to divest n invest else where...

yup... Wheelock accepted Simon Cheong's offer and re-invest in developing the AMK GLS site lol

http://info.sgx.com/webcoranncatth.nsf/V...500442E15/$file/WPSL_ANN_SCG.pdf?openelement

(16-01-2013, 10:06 PM)toiletsiao Wrote:

(05-12-2012, 11:02 PM)toiletsiao Wrote: Think they will unload.... Its one of their most underwhelming investments ever...they are very fortunate to be able to exit with their capital intact... They are very lucky too to avg down another 11mil shares when scglobal is trading at 50 to 60 cents in 2008...scglobal is illiquid wheelock should take this opportunity to divest n invest else where...

yup... Wheelock accepted Simon Cheong's offer and re-invest in developing the AMK GLS site lol

http://info.sgx.com/webcoranncatth.nsf/V...500442E15/$file/WPSL_ANN_SCG.pdf?openelement

U got it right!

Wheelock's explanation for the divestment is bullshit.
They tried to force Simon Cheong to increase the offer price by buying in the open market at above 1.8.
When Simon Cheong refuses to do so, they blinked first!
hahaha

(16-01-2013, 10:39 PM)camelking Wrote:

(16-01-2013, 10:06 PM)toiletsiao Wrote:

(05-12-2012, 11:02 PM)toiletsiao Wrote: Think they will unload.... Its one of their most underwhelming investments ever...they are very fortunate to be able to exit with their capital intact... They are very lucky too to avg down another 11mil shares when scglobal is trading at 50 to 60 cents in 2008...scglobal is illiquid wheelock should take this opportunity to divest n invest else where...

yup... Wheelock accepted Simon Cheong's offer and re-invest in developing the AMK GLS site lol

http://info.sgx.com/webcoranncatth.nsf/V...500442E15/$file/WPSL_ANN_SCG.pdf?openelement

U got it right!

Wheelock's explanation for the divestment is bullshit.
They tried to force Simon Cheong to increase the offer price by buying in the open market at above 1.8.
When Simon Cheong refuses to do so, they blinked first!
hahaha

the wheelock management really screw this one up... hilarious

(16-01-2013, 10:41 PM)toiletsiao Wrote:

(16-01-2013, 10:39 PM)camelking Wrote:

(16-01-2013, 10:06 PM)toiletsiao Wrote:

(05-12-2012, 11:02 PM)toiletsiao Wrote: Think they will unload.... Its one of their most underwhelming investments ever...they are very fortunate to be able to exit with their capital intact... They are very lucky too to avg down another 11mil shares when scglobal is trading at 50 to 60 cents in 2008...scglobal is illiquid wheelock should take this opportunity to divest n invest else where...

yup... Wheelock accepted Simon Cheong's offer and re-invest in developing the AMK GLS site lol

http://info.sgx.com/webcoranncatth.nsf/V...500442E15/$file/WPSL_ANN_SCG.pdf?openelement

U got it right!

Wheelock's explanation for the divestment is bullshit.
They tried to force Simon Cheong to increase the offer price by buying in the open market at above 1.8.
When Simon Cheong refuses to do so, they blinked first!
hahaha

the wheelock management really screw this one up... hilarious

this episode plus the bidding of site at ang mo kio doesn't look good on the new management.
Wheelock used to buy lands cheaply....i miss the late CEO/MD!

(10-01-2013, 08:48 AM)thefarside Wrote: Still, financial strength continue to differentiate Wheelock vs many other SGX developers.

Looks like Wheelock's management has completely lost their collective minds. As it stands, regardless of the balance sheet they now have less credibility than the mickey mouse developer companies on SGX. Hopefully they will get some serious grilling from their shareholders in the coming AGM for this sorry farce they got themselves into.

Hope the management will make good choices on the use of the cash coming from sale of SC Global.

(16-01-2013, 11:29 PM)thefarside Wrote:

(10-01-2013, 08:48 AM)thefarside Wrote: Still, financial strength continue to differentiate Wheelock vs many other SGX developers.

Looks like Wheelock's management has completely lost their collective minds. As it stands, regardless of the balance sheet they now have less credibility than the mickey mouse developer companies on SGX. Hopefully they will get some serious grilling from their shareholders in the coming AGM for this sorry farce they got themselves into.

The claimed NAV of SCG was much more than S$1.80, and even bought share at more than 1.80, but now why accept S$1.80. The management has no credibility at all.

They blinked first! SC must be laughing all the way to the bank now!

> After a long hiatus from land purchases, Wheelock Properties
> yesterday announced that it has successfully clinched a leasehold 99-year
> residential site at Ang Mo Kio Ave 2 for S$550m

This AMK site, they get hit now with the measures. They probably need some bullets...

Delisting at $750M, Wheelock got back around $140M (exact stake cannot remember)

Better than stuck with land and stuck with SC CEO who will do whatever he wants in a unlisted mode.

SC CEO wants to singaporise SCGD. Ultimately he need to offer Wheelock an exit price in a relatively short time to skirt the penalty, which makes a lot of sense why Wheelock has been buying at market. That makes Wheelock's latest move extremely puzzling, unless they are expressing a view on the latest 7th property measure