LTC Corp (prev. Lion Teck Chiang)

with NAV of $1, potential re-value of their industrial property, still traded below 50 cents... low public float of 40%

why is market discounting it so much?

there must be some reasons.

Frankly, the share are traded at the discounted to the NAV for a reason.

What i feel is the major share holder does not seem to share the same interest with the public minority shareholders.

Having invested in Lion AsiaPacific (the same major share holder of Lion Teck Cheng) i was really frustrated by the way we, minority share holders were treated.
I invested a large percentage = 40% my available cash into Lion AsiaPacific in anticipating the cash distribution after the divestment of China Auto business but to our disappointment, LionAsiapac has engaged in a bidding war over a iron ore mining company in Australia where Mr. Cheng (Major share holder of LionAsiapac) has 25% interest.

Even after losing the bid, we heard of no plan for the cash and we only received 15 cents after we, minority share holders got together and planed to demand to meet the management on the issue, but by the time cash distribution was declared, i had already divested 80% of my holding.

From this experience, i won't commit my limited fund into this type of companies and management as the opportunity cost is just too high for me.

just curious, is Lion AsiaPacific affiliated with lion teck chiang in term of voting/board seat?

(26-01-2011, 08:43 PM)pianist Wrote: just curious, is Lion AsiaPacific affiliated with lion teck chiang in term of voting/board seat?

Pianist, both are majority owned by Giant Lion Group of Malaysia which ultimately controlled by Mr. William Cheng.

http://www.lion.com.my/WebCorp/Homepage.nsf/Singapore

The listed entities in Singapore are just two of many in the web of companies and to control certain asset for Lion Group and ultimately for Mr. Cheng.

The board of directors of Lion Teck Chiang Limited (the "Company", and together with its subsidiaries, the "Group") wishes to announce that its wholly-owned subsidiary, Teck Chiang (International) Pte Ltd ("TCI"), a private limited company incorporated in Singapore, has today entered into a sale and purchase agreement (the "SPA") with Viroy Management Services Sdn Bhd (the "Vendor") for the acquisition (the "Proposed Acquisition") of (a) 40,000 ordinary shares in the capital of Kairong Developments (S) Pte Ltd ("Kairong Developments") representing 40% of the entire issued and paid-up share capital of Kairong
Developments (the "Sale Shares") and (b) the shareholder's loan (amounting to S$16,417,860 as at the date hereof) owing by Kairong Developments to the Vendor (the "Vendor Loan"), for an aggregate consideration of S$13.5 million (comprising S$1 for the Sale Shares and the balance of the consideration for the Vendor Loan) (the "Consideration").

see the full story here http://info.sgx.com/webcoranncatth.nsf/V...000364070/$file/LTC_Ann_Kairong.pdf?openelement

seems like is an ambitious move..venturing all the way to shenyang northeast china..i wonder if is a prudent move..

I think the recent successful and high $585.586m bid for a URA development site at the proposed "Paya Lebar Central Commercial Hub" by a consortium headed by Low Keng Huat (S), should have a positive impact on the valuation of Lion Teck Chiang's crown jewel - the Lion Industrial Estate land plot located just one MRT station away.....
http://info.sgx.com/webcoranncatth.nsf/V...F00327EF0/$file/LowKengHuat_Ann_PayaLebarProject.pdf?openelement [Low Keng Huat (S)'s announcement dated 27Apr11]

Further details of Lion Industrial Estate are provided under Note 4 (p48) in the latest Lion Teck Chiang's FY10 AR.....
http://info.sgx.com/listprosp.nsf/07aed3...5000c45c9/$FILE/LTC%20AR2010.pdf
I think it is worthy to note that, as at 30Jun10, the carrying value of the freehold Lion Industrial Estate - i.e. land + 4 buildings - in Lion Teck Chiang's B/S was only $79.8m.

Hi. Did anyone attend Lion Teck Chiang's AGM today? I have just recently bought into this counter. The maths look good, but I wonder if there is anything interesting revealed in the AGM today, especially with regards to the redevelopment of the company's factories in Paya Lebar. Also, recently Hiap Hoe bought a piece of freehold industrial land at Genting Lane area at about $400psf ppr. I guess Lion TC's land could be worth $500psf ppr considering that it's just next to an MRT station. I have also got different figures on the exact land size of Lion TC's Paya Lebar factories, so I am not sure how far off my estimates of the land is. Will appreciate if someone could help. Thanks.

passed by its steel trading factory near woodlands. some of its workers were working on a sun

Another walk out by Mano and gangs over stingy dividend declared!!

LION TECK CHIANG's AGM: Air Of Anticipation Over Master Plan 2013

http://www.nextinsight.biz/index.php/sto...aster-plan

strange, if it was supposed to be a vote by poll, then why did a vote by show of hands happened before that? can someone enlighten me?

besides walking out, they could have sold off their holdings and look for higher yield else-where..it is a free market anway.