Frasers Property (formerly: Frasers Cpt (FCL))

I always in an opinion that Mr. Charoen has one of the best business team with him, not a "garang (translation: foolhardy)" team in investment, but a "value investor-like" team.

A good day for FCL today with healthy volume.

Slow but steady featuring on the part of Towkay definitely has an positive impact on the share price.

Vested
GG

The company is picking up valuable "distress asset" in Europe, albeit a small venture. Will more be coming?

(vested)

ACQUISITION OF 100% SHAREHOLDING INTEREST IN TEYCOTEL BCN, S.L

Pursuant to Rule 704(17)© of the Listing Manual of the Singapore Exchange Securities Trading Limited, Frasers Centrepoint Limited (the “Company” or “FCL”) wishes to announce that FCL (Fraser) Pte. Ltd. (“FFPL”), a wholly-owned subsidiary of the Company, has acquired 100% of the issued share capital (the “Shares”) of Teycotel BCN, S.L. (“Teycotel BCN”), a company incorporated in Spain (the “Acquisition”), from (a) Teyco, S.L., (b) Pilsuna, S.L., © Barsedana Inversions, S.L, (d) Agricola Sumol, S.L. and (e) Grupo Ofmoda, S.L (the “Sellers”).
Teycotel BCN is the owner of “Hotel Porta Marina” (the “Hotel”), which is located in Barcelona, Spain. Teycotel BCN also holds all the shares in Teycotel Gestio Hotels, S.L. (“Teycotel Gestio”), the operator of the Hotel.

The consideration for the Shares is approximately €948,000 (approximately S$1,642,000) (the “Purchase Price”), and was arrived at on a “willing-buyer, willing-seller” basis, taking into account the net tangible asset value of Teycotel BCN as at 31 March 2014 of approximately €877,000 (approximately S$1,518,000). The Purchase Price is payable in cash and funded from internal sources.

As part of the Acquisition, the Company has also by way of shareholder’s loan to Teycotel BCN procured repayment of certain outstanding loans and debts owing by Teycotel BCN and Teycotel Gestio amounting to approximately €4,528,000 (approximately S$7,840,000).

http://infopub.sgx.com/FileOpen/Acquisit...eID=293217

http://www.tripadvisor.com.au/Hotel_Revi...lonia.html

likely a 3 star hotel but certainly something that must have fit in their vulture hunting criteria... v small $ but indicative that they are not just sitting there waiting for $ to drop from the sky.

Anyway, Towkay owns 88% of both F&N, FCL, his shrewed business moves will be more than align with minorities.

Vested
GG

(25-04-2014, 09:04 AM)CityFarmer Wrote: The company is picking up valuable "distress asset" in Europe, albeit a small venture. Will more be coming?

(vested)

ACQUISITION OF 100% SHAREHOLDING INTEREST IN TEYCOTEL BCN, S.L

Pursuant to Rule 704(17)© of the Listing Manual of the Singapore Exchange Securities Trading Limited, Frasers Centrepoint Limited (the “Company” or “FCL”) wishes to announce that FCL (Fraser) Pte. Ltd. (“FFPL”), a wholly-owned subsidiary of the Company, has acquired 100% of the issued share capital (the “Shares”) of Teycotel BCN, S.L. (“Teycotel BCN”), a company incorporated in Spain (the “Acquisition”), from (a) Teyco, S.L., (b) Pilsuna, S.L., © Barsedana Inversions, S.L, (d) Agricola Sumol, S.L. and (e) Grupo Ofmoda, S.L (the “Sellers”).
Teycotel BCN is the owner of “Hotel Porta Marina” (the “Hotel”), which is located in Barcelona, Spain. Teycotel BCN also holds all the shares in Teycotel Gestio Hotels, S.L. (“Teycotel Gestio”), the operator of the Hotel.

The consideration for the Shares is approximately €948,000 (approximately S$1,642,000) (the “Purchase Price”), and was arrived at on a “willing-buyer, willing-seller” basis, taking into account the net tangible asset value of Teycotel BCN as at 31 March 2014 of approximately €877,000 (approximately S$1,518,000). The Purchase Price is payable in cash and funded from internal sources.

As part of the Acquisition, the Company has also by way of shareholder’s loan to Teycotel BCN procured repayment of certain outstanding loans and debts owing by Teycotel BCN and Teycotel Gestio amounting to approximately €4,528,000 (approximately S$7,840,000).

http://infopub.sgx.com/FileOpen/Acquisit...eID=293217

(25-04-2014, 09:13 AM)greengiraffe Wrote: http://www.tripadvisor.com.au/Hotel_Revi...lonia.html

likely a 3 star hotel but certainly something that must have fit in their vulture hunting criteria... v small $ but indicative that they are not just sitting there waiting for $ to drop from the sky.

Anyway, Towkay owns 88% of both F&N, FCL, his shrewed business moves will be more than align with minorities.

Vested
GG

Investors are looking at distress assets in Europe, FCL shouldn't lag behind. Real estate assets fit well into FCL. I wouldn't be surprised to hear more from FCL on acquisitions in Europe.

(bias as shareholder)

This is the hotel's main website:

http://www.hotel-portamarina.com/index.html

(25-04-2014, 09:34 AM)CityFarmer Wrote:

(25-04-2014, 09:13 AM)greengiraffe Wrote: http://www.tripadvisor.com.au/Hotel_Revi...lonia.html

likely a 3 star hotel but certainly something that must have fit in their vulture hunting criteria... v small $ but indicative that they are not just sitting there waiting for $ to drop from the sky.

Anyway, Towkay owns 88% of both F&N, FCL, his shrewed business moves will be more than align with minorities.

Vested
GG

Investors are looking at distress assets in Europe, FCL shouldn't lag behind. Real estate assets fit well into FCL. I wouldn't be surprised to hear more from FCL on acquisitions in Europe.

(bias as shareholder)

i sold all my FCL today at a near all time high of 1.7 today, had a good nice ride for the past few weeks. Quite contented already, dont want to be too greedy. Good luck to all the existing shareholders

The following are the milestones that we have previously speculated in the building of FCL's track record as a listed entity:

i) divestment of 50% Changi City Point retail, that has since came through;

ii) the listing of Frasers Hospitality of which so far FCL has classified 3 "matured" assets ready for the imminent REIT - 50% share of Capri, Changi City, Fraser Suites Perth and Sydney. A successful listing of the new REIT will create another new platform for FCL to progressively asset light like Capland and Ascott REIT;

iii) the highly likely interim dividend that will be declared soon inline with FCL's track record as an unlisted entity under former parent F&N. As indicated in the introduction documents, FCL has a generous dividend policies as an unlisted entity. A interim dividend that follows a final dividends declared and paid shortly after its listing will be indicative of the continuation of FCL's generous dividend policies that stood at 50% of net profits for FY9/13 and reaffirmed its track record as a potential dividend yielder;

iv) how Thai Towkay intends to lift the free float of FCL once the 6 month moratorium to sell down his tight 88% holdings post 9 Jul 14. Given that FCL is ranked 7th (inclusive of HKLand and GLP) and 5th in terms of market cap (excluding HKLand and GLP), the eventual rise of FCL's free float will rekindle institutional interests in the big cap multi-platform property conglomerate especially when major indices decide to include FCL as one of the component stocks.

FCL has gotten most of its development strategy right so far and have locked up S$3bn worth of sales sufficient for progressive booking over next 3 years. The above expect timeline of events are likely to unfold over the next 6 - 9 months and FCL is likely to close its discount to book value of $2.15 (RNAV in excess of $2.50) over time.

Vested
GG

Very well laid out and informative website of FCL:

http://www.fraserscentrepoint.com/

THE FAQ explains the common questions on investors' mind:

http://www.fraserscentrepoint.com/invest...s/faq.aspx

Detailed and Concise Up-to-date fact sheet:

http://www.fraserscentrepoint.com/invest...Q2014.ashx

Kudos to IR team @ FCL

Vested
GG

Interims due after 9 May 14, Friday mkt close...

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