14-11-2014, 01:51 PM
Following last evening's 1H results and a surprise $0.13/share Special dividend announcements…..
http://infopub.sgx.com/FileOpen/EHL-1HFY...eID=324578 [1H result announcement]
http://infopub.sgx.com/FileOpen/EHL-Ann-...eID=324579 [dividend payment announcement]
, based on the last done share price of $0.36 this morning, so far Mr Market has rewarded Eastern with an extra $0.055 in valuation.
At $0.36, the share price is now pegged at an approx. 15% premium over the latest NAV/share (as at 30Sep14) of $0.3124, which does not account for any additional and hidden values in Eastern's existing investment and other property assets, and in the titles of its trade magazines and related trade shows, as well as development profits from the Grove Residence development project.
Using the information in the previous shareholder circular (dated 13Jul12) as a guide….
http://infopub.sgx.com/FileOpen/44870442...ileID=3129
I suppose it is not difficult to imagine that the additional and hidden values in Eastern's remaining property and publishing assets could potentially add another approx. $0.10/share in value. We should note that in the circular, DMG & Partners as the appointed IFA imputed a Revalued NTA/share at $0.353 against the 30Mar12 NTA/share at $0.234. Of course, we should be mindful that Eastern has since sold and realised a good gain from the Tras Street shop houses in last FY14 (ended 31Mar14).
http://infopub.sgx.com/FileOpen/EHL-1HFY...eID=324578 [1H result announcement]
http://infopub.sgx.com/FileOpen/EHL-Ann-...eID=324579 [dividend payment announcement]
, based on the last done share price of $0.36 this morning, so far Mr Market has rewarded Eastern with an extra $0.055 in valuation.
At $0.36, the share price is now pegged at an approx. 15% premium over the latest NAV/share (as at 30Sep14) of $0.3124, which does not account for any additional and hidden values in Eastern's existing investment and other property assets, and in the titles of its trade magazines and related trade shows, as well as development profits from the Grove Residence development project.
Using the information in the previous shareholder circular (dated 13Jul12) as a guide….
http://infopub.sgx.com/FileOpen/44870442...ileID=3129
I suppose it is not difficult to imagine that the additional and hidden values in Eastern's remaining property and publishing assets could potentially add another approx. $0.10/share in value. We should note that in the circular, DMG & Partners as the appointed IFA imputed a Revalued NTA/share at $0.353 against the 30Mar12 NTA/share at $0.234. Of course, we should be mindful that Eastern has since sold and realised a good gain from the Tras Street shop houses in last FY14 (ended 31Mar14).