Eastern Holdings

I am thinking that ST will just drag it on...wait for the fire to die down...stay low-profile...

Capitaland just bought over Big Orange Self Storage. Makes me wonder how much EHL's SelfStorage business is worth together with EPL building...think it might be a bit smallish at current stage. Not sure of how much revenue it's generating. Anyone has any idea?

(02-07-2013, 05:33 PM)smallcaps Wrote: Capitaland just bought over Big Orange Self Storage. Makes me wonder how much EHL's SelfStorage business is worth together with EPL building...think it might be a bit smallish at current stage. Not sure of how much revenue it's generating. Anyone has any idea?

been there. only 1 floor of EPL Building. Dont think worth much money.
run by 2 Filipinos.

(02-07-2013, 05:48 PM)opmi Wrote:

(02-07-2013, 05:33 PM)smallcaps Wrote: Capitaland just bought over Big Orange Self Storage. Makes me wonder how much EHL's SelfStorage business is worth together with EPL building...think it might be a bit smallish at current stage. Not sure of how much revenue it's generating. Anyone has any idea?

been there. only 1 floor of EPL Building. Dont think worth much money.
run by 2 Filipinos.

Thanks!

Wonder what is the reason? Financing??
Is there any X% deposit to forfeit??

FURTHER INFORMATION RELATING TO THE COMPANY’S 2013 FULL YEAR
UNAUDITED FINANCIAL STATEMENTS AND DIVIDENDS ANNOUNCEMENT
Unless otherwise defined, capitalized terms herein shall have the same meaning as ascribed
to them in the Company’s 2013 Full Year Unaudited Financial Statements and Dividend
Announcement dated 30 May 2013 (the “Announcement”).

The Board of Directors of the Company (the “Board”) refers to paragraph 8 on page 13 of the
Announcement where it was previously announced that the disposal by Hoy Fatt Pte. Ltd.,
70% owned subsidiary of the Company, of a 6 storey building at 12 Hoy Fatt Road,
Singapore 159506 for a consideration of $27.0 million is scheduled to be completed on 25
July 2013 (the “Disposal”), subject to approval by all relevant authorities and the buyer
successfully completing the sale transaction.

The Board wishes to disclose that the Disposal was unsuccessful.
The Board will make an announcement to Singapore Exchange Securities Trading Limited of
any material development of this matter as and when appropriate.

Tan Kay Soon Kenneth
Group Executive Director

Need permission from hdb?

Hoy Fatt is back on sale again (posted today):

http://www.stproperty.sg/industrial-for-...ad/3450626

So, it's likely the buyer backed out.

How come selling at $33m again? When EVERYONE knows the seller willing and did try to let go at $27m.

Might as well do an auction. How long going to keep bryton vacant and lose rental income. Keep vacant for so long but end up the price also not that great wat. Worse still failed to complete...
Wonder if it is possible to strata and sell as many units?

There are 3 listings... seem to be different ppties...
but as NO actual address given for 2) & 3), might even turn out to be the same ppty ??
note that all three had about the same buildup area - 56,700 sqft

1) EHL's ppty at 12 Hoy Fatt Rd - asking $33m
http://www.stproperty.sg/industrial-for-...ad/3450626

2) A $30m warehouse - no address given
http://www.commercialguru.com.sg/listing...-warehouse

3) A $28m building at Hoy Fatt Rd - no address given
http://www.commercialguru.com.sg/listing...-fatt-road