Perennial China Retail Trust

Hello GG,
He said during coffee chat with SHs, Nan Fung would sell all their stake even if they chose to convert the balance ,because it didn't fit into their investment strategy for holding 3 or 4 %.
I don't quite understand why he said NF got not mandate to invest outside HK and China when NF had already invested in PCRT and Forterra ? ( What he actually mean ?)
He even said he asked NF if they wanted to sell their holding , he can get someone to buy over from NF , but NF instead chose to sell in open market.

Post folding into the new platform, the enlarged newco will have assets outside HK & China in Singapore and hence they can't invest in newco - likely his reasoning.

Anyway, it is reassuring to hear that he still can bring someone in to buy NF out on NF's request.

GG

(24-04-2014, 03:23 PM)cfa Wrote: Hello GG,
He said during coffee chat with SHs, Nan Fung would sell all their stake even if they chose to convert the balance ,because it didn't fit into their investment strategy for holding 3 or 4 %.
I don't quite understand why he said NF got not mandate to invest outside HK and China when NF had already invested in PCRT and Forterra ? ( What he actually mean ?)
He even said he asked NF if they wanted to sell their holding , he can get someone to buy over from NF , but NF instead chose to sell in open market.

(23-04-2014, 10:40 PM)cfa Wrote: Today's AGM, CEO Pua said the management was very confident the acceptance to swap share will be more than 50% but not sure it will hit 90%, for the Newco to take PCRT private.
He even said the NAV of the Newco will be very much higher than what market perceived because the values of the China properties only base on land cost , not inclusive of construction costs. He said share price should not be 0.55 .

Sell water melon of course say water melon sweet

(24-04-2014, 08:17 PM)MINX Wrote:

(23-04-2014, 10:40 PM)cfa Wrote: Today's AGM, CEO Pua said the management was very confident the acceptance to swap share will be more than 50% but not sure it will hit 90%, for the Newco to take PCRT private.
He even said the NAV of the Newco will be very much higher than what market perceived because the values of the China properties only base on land cost , not inclusive of construction costs. He said share price should not be 0.55 .

Sell water melon of course say water melon sweet

All of them are very kind , sell below cost to the public .

Need to add that the swapping of share will only take place sometime in Oct/Nov , provided everything go smoothly with the RTO.

Pua's effect only last for one day, no more fire works .

Looks quite impressive for a new mall - certainly not a ghost mall...

http://infopub.sgx.com/FileOpen/FinalOpe...eID=293874

http://infopub.sgx.com/FileOpen/Official...eID=293875

(28-04-2014, 07:54 PM)greengiraffe Wrote: Looks quite impressive for a new mall - certainly not a ghost mall...

http://infopub.sgx.com/FileOpen/FinalOpe...eID=293874

http://infopub.sgx.com/FileOpen/Official...eID=293875

Look promising to me. By the way, Nan Fung selling down their stake again on 24th Apr.

http://infopub.sgx.com/FileOpen/Form3Cos...eID=293947

Very interesting... Nan Fung actually held off selling PCRT until 24 Apr 14, ie they are unpredictable in their unwinding.

Anyway, PCRT is unlikely to perform till Nan Fung completes their unwinding.

On the face of it, Nan Fung has Forterra as their pipeline vehicle and with PCRT eventually being folded into a bigger platform, there is really no need on their part to keep PCRT.

Divested
GG

PREHL can always to do a dual-listing in HK to drive up share price