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29-09-2011, 07:38 AM
is Haw Par going to have a cash flow problem? possible if it continues to receive scrip dividend from its UOB stake, but I don't think it will be 2011, as the interim dividend by UOB was not scrip. But if we were to exclude dividend from UOB, the cash flow in 2011 would be just around enough or slightly short for its 20 cents dividend.
how to value Haw Par's financial assets(stake in UOB, UOL, UIC)? mark-to-market is apparently not appropriate as Wees probably intend to hold it for very long to control the wee empire. maybe we can use DCF in a way to value it. as most of its dividend is from UOB and UOB is quite a matured company. the dividend history has been $0.6 - $1. so dividend receivable from UOB alone is around 40 mil - 66 mil.
how to value Haw Par's financial assets(stake in UOB, UOL, UIC)? mark-to-market is apparently not appropriate as Wees probably intend to hold it for very long to control the wee empire. maybe we can use DCF in a way to value it. as most of its dividend is from UOB and UOB is quite a matured company. the dividend history has been $0.6 - $1. so dividend receivable from UOB alone is around 40 mil - 66 mil.