GL Limited (formerly: Guoco Leisure)

Many chased this counter in past weeks.

The loss was from the hotel operation, so might see losses in next few Qs ?

(11-05-2013, 01:16 PM)cfa Wrote: Many chased this counter in past weeks.

The loss was from the hotel operation, so might see losses in next few Qs ?

At worse, its a wrong term investment. One thing for sure G Leisure will be around even after stock market closes and Quek will continue to prevail.

Hold for the next cycle. No worries.

Vested
GG

Jan to Mar is the low season for travel. Hope things will pick up moving into summer. GL indicated that it is expected to perform satisfactory.

Vested

(11-05-2013, 11:06 AM)Share Investor Wrote: Wonder why the company had not issued a profit warning?

It wasnt necessary because the combined 1st half results still shows a profit.

(11-05-2013, 08:53 PM)Share Investor Wrote: Jan to Mar is the low season for travel. Hope things will pick up moving into summer. GL indicated that it is expected to perform satisfactory.

Vested

Not really , the previous corresponding periods shown otherwise.

(12-05-2013, 09:51 AM)cfa Wrote:

(11-05-2013, 08:53 PM)Share Investor Wrote: Jan to Mar is the low season for travel. Hope things will pick up moving into summer. GL indicated that it is expected to perform satisfactory.

Vested

Not really , the previous corresponding periods shown otherwise.

The last corresponding quarter had a tax gain of 16 mil. Without that there would have been a slight loss too.

http://info.sgx.com/webcoranncatth.nsf/V...1003A4F6B/$file/ThirdQuarterEnded31Mar10.pdf?openelement

http://info.sgx.com/webcoranncatth.nsf/V...1003A4F6B/$file/ThirdQuarterEnded31Mar10.pdf?openelement



Year 2010 and 2011 , made 6.5 and 9.4 m respectively.

L&T report on Guoco Leisure.

We suspect a replay of Guoco Group (HK$92.40,
up 10 cents) could be at work in Guoco Leisure (85
cents, up 1/2 cent) where the former had reported a
huge US$330mln loss in 1H2012 only to see Tan Sri
QLC launch in privatization offer in Dec’12 at HK$88
per share and recently revised it up to HK$100 per
share, significantly above the pre-privatization price
of HK$60. Guoco Leisure had just reported a loss
for 3Q to Mar’13 of US$6.5mln due to the eurozone
crisis. Technically, a break of the 78-80 cents level
suggests lower levels. It is currently trading at 0.77x
its NAV of $1.10 a share. We do not yet have a rating
on the stock.

How to explain why QLC offered HK100.00 for Guoco Holding HK , but share price is still being trade below that offered price ?

CDL owns quite a numbers of hotels in UK.

City Developments - Collapse of hotel segment : CIMB

CityDev announced a weak set of 1Q13 results because of the collapse of its hotel PBIT.

It remains to be seen if it recovers in subsequent quarters. There are plans to enter the London market but this move is unlikely to change our Neutral stance at this juncture.

1Q13 core earnings were below expectations, at 15% of our full-year forecast and 13% of consensus.

We scale back our FY13-15 core EPS by 3-12% for lower hotel earnings and trim our target price (15% discount to RNAV).

We believe that a fresh business model may be needed before investors can be tempted to turn positive again.