20-09-2014, 12:09 PM
(20-09-2014, 07:11 AM)greengiraffe Wrote:Thanks GG. I do have some at $1. Took a small bite when the towkays went it with Aberdeen (who sold off subsequently). May be a long term stock now.(20-09-2014, 02:38 AM)jaykay Wrote:(19-09-2014, 07:58 PM)greengiraffe Wrote:(19-09-2014, 07:10 PM)MINX Wrote:(19-09-2014, 04:37 PM)jaykay Wrote: I am a believer. I am in the same boat with Towkay.Towkay is not God, he is human like you and me, he can screw up too, I hope you keep that at the back of your mind....
noted but he is too smooth that even bankers are convinced... even fundies are convinced that those who need to track the index have little choice but to buy both F&N and FCL despite the still thin free float of 12%...
I rather trust Charoen than some train wreckers that keeps steering into troubled China housing markets and remain convinced that they are ok...
Now that you mentioned China property... why do towkays like Kuok, Peter Lim and esp Wee Ee Chao see in Yanlord?
Wee will buy in whenever prices weaken.
Wee is from a banking background... If you remember how UOB financed Robin Lau on Goldhill Sq in the 80s, I think they have done their due d on what they are eyeing...
Post the Pan Elec crisis in the 80s, over-leveraged Robin Lau went bust and Robin Lau's flagship Robina house went to City Dev and sprawling Goldhill went to UOL and stayed with UOL since to be renamed United Sq. United Sq then became UOL's cornered stone asset in the Newton/Novena area when they have Novena Sq right across the road.
Yanlord is a niche developer and there is a good track record. If I m not wrong, it is trading at a discount to RNAV. However with Godfathers backing Yanlord, they could well be hedging small parts of their assets in a high risks but essential part of the big Chinese economy. You are welcome to follow them if you have faith in them.
GG