Frasers Property (formerly: Frasers Cpt (FCL))

This is a judgment. The tycoon can sue you for defaming him.

Charoen is a very savvy value extractor. He generated interest for perpetual bonds and then lower coupon yield when seeing the huge response, and shrank the bond size. And then shrank the later 7-yr bond coupon by almost 1%.

He owns 88% of FCL, of course it is his right to maximise value for all the shareholders. I don't believe he extracted value and list FCL to destroy it.

(14-10-2014, 04:09 PM)CityFarmer Wrote:

(14-10-2014, 03:42 PM)LLS Wrote: Charoen only interested in making himself rich, never has his interest been to reward minority shareholders.

Dear LLS,

Please refrain from making such a direct accusation, without a reasonable ground. I have taken the post as baseless.

Further similar post will be warned formally.

Regards
Moderator (CF)

http://www.valuebuddies.com/thread-4912-...l#pid96790

- Within two years the proportion of overseas buyers in Australand's developments has risen from 5 to 18 per cent, executive general manager of residential Rod Fehring says. "It's quite a substantial change because Sydney has come alight. It's always been an attractive location for investment and, surprise surprise, the projects that we're producing are attracting offshore interest," he says.
Capland too short sighted and forsaken ALZ. FCL paid a premium to snatch ALZ from Stockland.

- Some companies which have a strong pipeline of forward projects, such as Lend Lease, Fletcher Building, Mirvac and Goodman, stand to benefit most from the boom. "Goodman may seem like an odd choice for a residential beneficiary, but it has identified that it can develop 35,000 apartments in Sydney and Melbourne, converting from its inner-ring industrial assets," CLSA says.

- ALZ is not there as it has been delisted and the play would be through FCL...

This flow of Chinese $ must not be under-estimated in China's push to buy up globally (not just real estates but other critical supplies of raw materials)

GG

(14-10-2014, 05:38 PM)Contrarian Wrote: This is a judgment. The tycoon can sue you for defaming him.

Charoen is a very savvy value extractor. He generated interest for perpetual bonds and then lower coupon yield when seeing the huge response, and shrank the bond size. And then shrank the later 7-yr bond coupon by almost 1%.

He owns 88% of FCL, of course it is his right to maximise value for all the shareholders. I don't believe he extracted value and list FCL to destroy it.

(14-10-2014, 04:09 PM)CityFarmer Wrote:

(14-10-2014, 03:42 PM)LLS Wrote: Charoen only interested in making himself rich, never has his interest been to reward minority shareholders.

Dear LLS,

Please refrain from making such a direct accusation, without a reasonable ground. I have taken the post as baseless.

Further similar post will be warned formally.

Regards
Moderator (CF)

(14-10-2014, 05:38 PM)Contrarian Wrote: This is a judgment. The tycoon can sue you for defaming him.

Charoen is a very savvy value extractor. He generated interest for perpetual bonds and then lower coupon yield when seeing the huge response, and shrank the bond size. And then shrank the later 7-yr bond coupon by almost 1%.

He owns 88% of FCL, of course it is his right to maximise value for all the shareholders. I don't believe he extracted value and list FCL to destroy it.

I think he lowered the coupon yield and increased the issue size for the perpetual. He then shrank the later 7-year bond coupon.
But that's typical of most bond issuance, typically companies market higher before tightening when orders flood in. Those who dont tighten their yield either means they are 1) bondholders friendly, or 2) no demand.

whats the current gearing of FCL?
seems pretty highly in debt, not a good sign considering the weak market conditions

> I think he lowered the coupon yield and increased the issue size for the perpetual. He then shrank the later 7-year bond coupon.
> But that's typical of most bond issuance, typically companies market higher before tightening when orders flood in. Those who dont
> tighten their yield either means they are 1) bondholders friendly, or 2) no demand.

Yes.

The first perpetual drew S$3.5Bn in orders.

By getting of total S$800 - S$900M in debt market, they are already reducing the need for bank loan, which comes with many terms and conditions. I hope he can continue to use retail debt market rather than bank loan.

Hoepfully Charoen can flush the investment assets down FCOT, Retail and Hospitality as quickly as possible. That will generate profits and help reduce the loans.

Do yrself a favour by ding yr own research. You will then appreciate the value investment process more and feel more self filling.

GG

(15-10-2014, 10:13 AM)LLS Wrote: whats the current gearing of FCL?
seems pretty highly in debt, not a good sign considering the weak market conditions

I think the answer is all on this thread...

>Do yrself a favour by ding yr own research. You will then appreciate the value investment process more and feel more self filling.

> GG

FCL is currently highly geared, they can't raise debt anymore
for any future expansion, a rights issue or private placement can be very possible

Kindly justify your statement as to why they can't raise debt anymore?

Are you the banker and financier that is overseeing a company's debt level.

I think you should still be more specific.

In volatile times like these, I think to make such hawkish statements has plenty of unnecessary intent. Everyone needs to have a cool and clear mind to form informed judgement based on quoted facts.

One liners IMO does nothing.

I have work hard to source information from all over the world to share with buddies. However, I m personally irritated by the fact that there are individuals that do not wish to use them and conveniently continue to hide behind the freedom of internet to post comments that can be verified with a little work and time. I think this should be the spirit of a constructive forum.

Everyone deserves respect. However to have that respect, I think one should justify by earning it.

One can be bearish and bullish but always justify your position. That is the very least that I learnt from my angmo research head about 20 years ago.

If you can't justify your statement, please do not shoot from the hip and waste others time and let yourself down.

I m sorry to be blunt here but really we should be contributing positive. If one make a mistake due to error, it is forgiveable. However, if you are abusing your rights as an individual to have a go at someone simply because its personal, then its all there for people to judge.

GG

(15-10-2014, 04:34 PM)LLS Wrote: FCL is currently highly geared, they can't raise debt anymore
for any future expansion, a rights issue or private placement can be very possible

Currently big boss still owns 88% of FCL resulting to a very low public float

I think its more likely for him to do a private placement so as to expand the public float, rather than taking on more debt which could give pressure on earnings.

Heavily Short on FCL

(well you can keep promoting this stock when you are long and speak of the positives, I can speak of the negatives as much as I want since I am short on this stock ^_^)