Wheelock Properties

orangetea Wrote:Wheelock near 52w low of 1.685 I am looking at privatisation... But its a long long waiting game. Star attraction used to hold at 75.84% for a long while. Free float then was 24.16% Just last year and early this year Aberdeen added positions. There are two Aberdeen entities: Aberdeen PLC holds 6.0201% Aberdeen Asia holds 6.003% Hence current free float is 12.1369% Thats just shy of 2.1369% from triggering the 10% freefloat limit. Book value at $2.57 vs current price $1.69, is a 34% discount Again the idea here is privatisation probably near $1.9 to $2 level (my guess only since Aberdeen took a position during the SC global saga near $1.9x) It would be a long wait.... At least dividend of 3.5% is respectable while waiting. (Vested)

Having said the above, we still see listing of F&N, China Minzhong, still listed despite the free float <10%

sold off during the last round of rumour of delisting offer.

A good company but too bad the ex-managing director passed away. He is a man of foresight.

yes, they got two good shopping malls in orchard which will give them good recurring incomes during lean period.
That's what i like about the co.
Like the 6 cent dividend too.

Wonder how the project doing on in china? Such a large investment with so little information....

Don't like their purchase of land at Ang Mo Kio. Very un-wheelock to develope in heartland. Also found the purchase price too high.

Waiting to re-enter at a good price though..

time to accumulate more.

definitely, a good delist play

(22-10-2013, 05:54 PM)orangetea Wrote:

orangetea Wrote:Wheelock near 52w low of 1.685 I am looking at privatisation... But its a long long waiting game. Star attraction used to hold at 75.84% for a long while. Free float then was 24.16% Just last year and early this year Aberdeen added positions. There are two Aberdeen entities: Aberdeen PLC holds 6.0201% Aberdeen Asia holds 6.003% Hence current free float is 12.1369% Thats just shy of 2.1369% from triggering the 10% freefloat limit. Book value at $2.57 vs current price $1.69, is a 34% discount Again the idea here is privatisation probably near $1.9 to $2 level (my guess only since Aberdeen took a position during the SC global saga near $1.9x) It would be a long wait.... At least dividend of 3.5% is respectable while waiting. (Vested)

Having said the above, we still see listing of F&N, China Minzhong, still listed despite the free float <10%

Wheelock's freefloat is closer to 18~19%, the Aberdeen Group had a combined stake of only slightly above 6%,
you double-counted becoz Aberdeen Asset Management Asia Limited (AAMAL) is a subsidiary of Aberdeen Asset Management PLC.
so your "Aberdeen PLC" deem interests already includes all those held by "Aberdeen Asia"...cheers!

I'm also vested.

(26-01-2014, 09:12 PM)Vseeker Wrote:

(22-10-2013, 05:54 PM)orangetea Wrote:

orangetea Wrote:Wheelock near 52w low of 1.685 I am looking at privatisation... But its a long long waiting game. Star attraction used to hold at 75.84% for a long while. Free float then was 24.16% Just last year and early this year Aberdeen added positions. There are two Aberdeen entities: Aberdeen PLC holds 6.0201% Aberdeen Asia holds 6.003% Hence current free float is 12.1369% Thats just shy of 2.1369% from triggering the 10% freefloat limit. Book value at $2.57 vs current price $1.69, is a 34% discount Again the idea here is privatisation probably near $1.9 to $2 level (my guess only since Aberdeen took a position during the SC global saga near $1.9x) It would be a long wait.... At least dividend of 3.5% is respectable while waiting. (Vested)

Having said the above, we still see listing of F&N, China Minzhong, still listed despite the free float <10%

Wheelock's freefloat is closer to 18~19%, the Aberdeen Group had a combined stake of only slightly above 6%,
you double-counted becoz Aberdeen Asset Management Asia Limited (AAMAL) is a subsidiary of Aberdeen Asset Management PLC.
so your "Aberdeen PLC" deem interests already includes all those held by "Aberdeen Asia"...cheers!

I'm also vested.

Thanks! You are right. Thanks for the correction.

An allowance for diminution in value of $110 million (2012: nil) was made on the Ang Mo Kio project (The Panorama) due to the weakening market conditions and the slow take up rate of the property.
http://infopub.sgx.com/FileOpen/WPSL_ANN...eID=275856

May be shareholders should wheel-clamped the company.

Given their financial strength, they could have greenmailed Simon Cheong instead of bidding for the AMK site.

As SC has more to lose, Wheelock would have eventually gotten a better price for their strategic stake in SC Global.

Anyway, the strategy speaks so much of the group's reading of the Singapore mkt. They are probably too high-end that they lost the feel on the mass mkt which is why they are in such a mess.

Vested
Odd Lots

(24-02-2014, 07:15 PM)Behappyalways Wrote: An allowance for diminution in value of $110 million (2012: nil) was made on the Ang Mo Kio project (The Panorama) due to the weakening market conditions and the slow take up rate of the property.
http://infopub.sgx.com/FileOpen/WPSL_ANN...eID=275856

they forgot the contrarian style of the late David Lawrence.

5 returned units and 1 sold.... hence negative 4 units sold. (The latest to launch EC Skypark Residences has 294 units as of Feb 2014 yet the latest update as of 14 Mar 2014 states that 290 units are sold. Negative units sold)

Update: The Panorama Feb 2014
Cumulative Units Sold to-date: 54
Median Price ($psf) in the Month: $1323
Units sold in the month: 1
Cumulative Units Launched but Unsold: 66
Total Number of Units: 698

Update: The Panorama Jan 2014
Cumulative Units Sold to-date: 58
Median Price ($psf) in the Month: $1343
Units sold in the month: 58
Cumulative Units Launched but Unsold: 62
Total Number of Units: 698

Wheelock has requested on Trading halt something positive coming up...privatization?

http://infopub.sgx.com/Apps?A=COW_CorpAn...0rJ2ahkiSo

http://www.nextinsight.net/index.php/sto...developers

Vested