Lee Kim Tah Holdings

Tamil Nadu land stuck there for years.
Probably need to re-acquaint with new politicians
after every elections.

India is a true blue democracy... I won't factor in anything apart from the comfort of sitting on raw land larger than the size of Toa Payoh town till pre-sales and development starts.

Land has been there for coming to 1 decade. I still remember Edwin happily telling us that its so dirt cheap at S$5m for their share...

Odd Lots & Cert Vested
GG

(23-04-2014, 08:55 PM)opmi Wrote: Tamil Nadu land stuck there for years.
Probably need to re-acquaint with new politicians
after every elections.

(23-04-2014, 09:17 PM)greengiraffe Wrote: India is a true blue democracy... I won't factor in anything apart from the comfort of sitting on raw land larger than the size of Toa Payoh town till pre-sales and development starts.

Land has been there for coming to 1 decade. I still remember Edwin happily telling us that its so dirt cheap at S$5m for their share...

But the legal system in India - which is rooted to the British system - seems to work in this case, as the Tamilnadu authorities had challenged LKT in court, and yet the Indian courts have ruled twice in LKT's favour, mainly by virtue of the time-tested land laws.

And we must not forget holding on to a large tract of freehold land located within a fast-developing area like Siruseri and purchased for a low, low price, is probably the cheapest way to investing in a major property deal, as it saves on infrastructures, construction and professional costs. If LKT eventually cashes out the land at say $174.0m, the gain from this investment would be more than 10-fold!

(23-04-2014, 09:44 PM)dydx Wrote:

(23-04-2014, 09:17 PM)greengiraffe Wrote: India is a true blue democracy... I won't factor in anything apart from the comfort of sitting on raw land larger than the size of Toa Payoh town till pre-sales and development starts.

Land has been there for coming to 1 decade. I still remember Edwin happily telling us that its so dirt cheap at S$5m for their share...

But the legal system in India - which is rooted to the British system - seems to work in this case, as the Tamilnadu authorities had challenged LKT in court, and yet the Indian courts have ruled twice in LKT's favour, mainly by virtue of the time-tested land laws.

And we must not forget holding on to a large tract of freehold land located within a fast-developing area like Siruseri and purchased for a low, low price, is probably the cheapest way to investing in a major property deal, as it saves on infrastructures, construction and professional costs. If LKT eventually cashes out the land at say $174.0m, the gain from this investment would be more than 10-fold!

I certainly agree... the day will come and not many left in minorities to benefit alongside with substantial shareholders.

Maybe will go the way of many undervalued stocks. Eg Furama, Brothers, KepFELS.
If the relevant authorities continue to let the takeover rules and players tiilted against minority shareholders.

(23-04-2014, 10:05 PM)greengiraffe Wrote:

(23-04-2014, 09:44 PM)dydx Wrote:

(23-04-2014, 09:17 PM)greengiraffe Wrote: India is a true blue democracy... I won't factor in anything apart from the comfort of sitting on raw land larger than the size of Toa Payoh town till pre-sales and development starts.

Land has been there for coming to 1 decade. I still remember Edwin happily telling us that its so dirt cheap at S$5m for their share...

But the legal system in India - which is rooted to the British system - seems to work in this case, as the Tamilnadu authorities had challenged LKT in court, and yet the Indian courts have ruled twice in LKT's favour, mainly by virtue of the time-tested land laws.

And we must not forget holding on to a large tract of freehold land located within a fast-developing area like Siruseri and purchased for a low, low price, is probably the cheapest way to investing in a major property deal, as it saves on infrastructures, construction and professional costs. If LKT eventually cashes out the land at say $174.0m, the gain from this investment would be more than 10-fold!

I certainly agree... the day will come and not many left in minorities to benefit alongside with substantial shareholders.

how about offer you another perspective? management may attempt to delist the company before LKT eventually cashes out the land at say $174.0m, the gain from this investment would be more than 10-fold will then go straight into the pockets of management!

"how about offer you another perspective? management may attempt to delist the company before LKT eventually cashes out the land at say $174.0m, the gain from this investment would be more than 10-fold will then go straight into the pockets of management!" - safetyfirst

This i agree,

(24-04-2014, 06:55 AM)brattzz Wrote: "how about offer you another perspective? management may attempt to delist the company before LKT eventually cashes out the land at say $174.0m, the gain from this investment would be more than 10-fold will then go straight into the pockets of management!" - safetyfirst

This i agree,

The idea of the Lee Family buying out the minority shareholders and delist LKT is not new at all! This will probably happen given enough time.

But like in all privatisation GO's, minority shareholders don't have to sell if the offer is not good enough! And in a GO, the IFA appointed must insist on doing a full up-to-date valuation exercise of all LKT's property and other assets, and the info will be included in the IFA's opinion and recommendation. So in all likelihood, to succeed any privatisation GO from the Lee Family would have to be pegged at a fair and acceptable discount to the RNAV/share.

yes sir! wonder if they will do a JP REITS first?

Very unlikely as Guthrie GTS is already delisted by rich Indonesian parents - basically Indonesians are telling the market that they don't even need a listed vehicle for fund raising and hence very limited opportunities for asset light strategies on the part of Guthrie GTS linked Indonesians.

GG

(24-04-2014, 05:24 PM)brattzz Wrote: yes sir! wonder if they will do a JP REITS first?