Perennial China Retail Trust

[speed227]

Hi Guys, the share swap will value PCRT at 0.70....The issue price of PREHL will be according to the prsentation be 1.3xx post phase proposed acquistion...

May I know if that means u get 1 PREH share for every 2 PCRT held?

or how does it work? I also read that post acq, 50 shares of SJH will become 1 share of PREH, (0.039 (current price)x50 = 1.95?)...the difference (1.95 - 1.3xx) will be the "price" for the shares in the new company X that will hold the Entertainment biz?

Kindly enlighten me. Thank you v much!

[kayhian]

PCRT wishes to announce that PCRT’s financial results for the second quarter
ended 30 June 2014 will be released after trading hours on Tuesday, 5 August 2014.

[kayhian]

one more week to go

[kayhian]

Perennial China Retail Trust to Distribute 1.90 Singapore Cents Per Unit for 1H 2014

Shenyang Longemont Shopping Mall’s occupancy benefits from next phase of repositioning in progress.

Perennial Jihua Mall in Foshan achieved close to full occupancy.

[greengiraffe]

http://infopub.sgx.com/FileOpen/Suppleme...eID=314161

dunno what is brewing...

Not Vested
GG

[holy grail]

Has anyone looked at their valuation of injection into St. James?

Just on their Hengqin project it seems the sponsors are reaping huge profit even after the 25% valuation discount? I have yet to be able to look at their other high speed projects but I suspect they have the relevant numbers in past announcements since some of those projects were acquired by PCRT as well?

Hengqin project injection value into St. James
S$ 68m for 20%
which equals S$ 340m for 100%

vs RMB 263m for 30% , which was the cost acquired just early 2014
which equals S$180m for 100% (RMB 263/4.86 FX /30%)

340/180= 88% gain in less than half a year!

Wonder how much they are making for the other PRC and Singapore projects to be injected.

I assume the injected site is the same as the one announced by Shun Tak as below?
_______________________________________________________________________________________________________
http://www.macaubusiness.com/news/shun-t...-plot.html

Shun Tak strikes JV deal to develop Hengqin plot
Shun Tak Holdings Ltd says it has set up a joint venture to develop the plot of land on Hengqin Island that the conglomerate bought last year.

Shun Tak has told the Hong Kong Stock Exchange that it will own 70 percent of the joint venture and that Perennial Hengqin Investment Group Pte Ltd will own the rest.

Perennial Hengqin will pay Shun Tak RMB263 million (MOP347 million) as part of the deal.

Shun Tak envisages a mixed-use development on Hengqin.

One of the shareholders in Perennial Hengqin is Singapore’s Perennial Real Estate Holdings Pte Ltd, which is Shun Tak’s partner in a real estate development in Beijing.

_______________________________________________________________________________________________________
Vested

[greengiraffe]

http://infopub.sgx.com/FileOpen/St%20Jam...leID=23241

NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the shareholders (the
“Shareholders”) of St. James Holdings Limited (the “Company”) will be held at Suntec Singapore
Convention & Exhibition Centre, Level 3, Meeting Rooms 300-301, 1 Raffles Boulevard, Suntec City,
Singapore 039593 on Friday, 10 October 2014 at 10.30 a.m. for the purpose of considering and, if thought
fit, passing, with or without amendment, the following resolutions, of which Resolutions 1, 2, 4, 5, 6, 8, 10,
11, 12, 13, 14, 15, 17A, 17B and 18 will be proposed as ordinary resolutions and Resolutions 3, 7, 9 and 16
will be proposed as special resolutions. Capitalised terms not defined herein shall have the meaning set out
in the Circular dated 18 September 2014 issued by the Company (“Circular”).

[mrEngineer]

My feeling for this is for the long run.. Maybe as long as the recovery for Wilmar..

[mrEngineer]

I am amazed after the successful St James EGM shareholder approval for RTO that the value did not adjust closer to the offer price. Is this such a first occurence or market is simply discounting from the offer price as this is mainly a share transfer exercise?

[holy grail]

I am amazed after the successful St James EGM shareholder approval for RTO that the value did not adjust closer to the offer price. Is this such a first occurence or market is simply discounting from the offer price as this is mainly a share transfer exercise?

Market just sees it as swapping at a slight premium price into something of richer / more-dilutive valuation. Pure Financial engineering and little value creation IMO