Boustead Projects

[greengiraffe]

Your accounting absolutely fantastic.

BP Portfolio comprises of 13 wholly properties totalling 160088 sm

The remaining are 50% owned with corporate HQ jointly owned with Tat Hong and the 2 new facilities under BDP totalling 27259 sm (attributable to BP 13629.5 sm)

So BP effectively own 173717.5 sm

BP is no reit and hence pays taxes and has to factor in depreciation. I think that is a realistic picture given that properties are leasehold.

As to how u want to value it, its up to you.

I think you have lorry loads until you blur liao.

GG

Hi Thor

Recurrent income (forecast) = 2mil sq ft x $1.5 PSF x 12 mth = $36mil.
Net recurrent income = $18mil or 5.6 cents.

Assuming 5% yield, 20X of EPS = $1.12 (fair value).

e.g. St****** - DPS has been constant at 3 cents for many years. Share price has been rather stable at ~ 60 cents
_____________

Target recurrent income = 4mil sq ft x $1.5 PSF x 12 mth = $72mil.
Net recurrent income = $36mil or 11.2 cents.

Assuming 5% yield, 20X of EPS = $2.24 (fair value).