Wee Hur Holdings

[weijian]

Hi weijian,

It was a disappointment, considering estimated gain for the whole WH PBSA PORTFOLIO is only $36.54 million. In NTA terms, it will only increase at around 7c per share.

Considering that there was much speculation on a higher valuation before the sale, I believe that the market will be quite disappointed over this proposed disposal.

hi ghchua,

I had taken a quick look at its AR - The WH PBSA JV recognizes the PBSA properties as investment properties and so they are subjected to FV accounting. On Weehur's own financials, the JV is equity-accounted and its share of P/L is reflected on Weehur's own P/L and balance sheet. So, there isn't much "hidden value" per say. 

The 36.54mil of recognized gain probably isn't too far off the past 1 year of market valuation gains over end Dec2023.