Eastern Holdings

[dydx]

On 13Oct10, Eastern Holdings announced the completion of the sale of business and assets by 60%-owned subsidiary Eastern Directories P/L to SPH.....
http://info.sgx.com/webcoranncatth.nsf/V...A00352128/$file/SGXAnnouncementCompletion.pdf?openelement
with full details of the sale contained in a circular to the Shareholders dated 30Aug10.....
http://info.sgx.com/listprosp.nsf/bc9c2d...000102ce2/$FILE/%20Circular%20To%20Shareholders%202010_.pdf

Accordingly, Eastern Holdings has received its 60% share ($26.1m) of the sale proceeds, and will be booking in a gain of $26.079m - equivalent to $0.087/share, based on the 300.0m issued shares - into P&L in 2H-FY11 (ending 31Mar11), and the gain has raised it NAV/share to at least $0.2451.

A relevant question: Would the company reward its shareholders by paying out a big Interim dividend in conjunction with the coming 1H-FY11 results announcement expected by 15Nov10?

[ngcheeki]

I had attended the EGM on 20 September 2010 @ the company HQ in Lower Delta road. Someone did ask CEO, Stephen Tay
is the company going to pay out some of the sale proceed as special dividend? His reply is a "no" because the company is going to use the sale proceed to invest into the new property related business in hospitality area, probably overseas which is currently in advance state of discussion.

fyi, the company is currently putting up one of their newly completed industrial properties bryton house for sale @ 28 million

See the following link for more information.
http://www.commercialguru.com.sg/listing...ures-inclu

vested.

[brattzz]

Going china?

[dydx]

The company has today (1Apr11) issued a positive Profit Guidance for the coming FY11 (ended 31Mar11) full-year results.....
http://info.sgx.com/webcoranncatth.nsf/V...3000B1DAC/$file/Profit_Guidance_31_March_2011.pdf?openelement

Can Eastern Holdings shareholders reasonably expect the company to pay out a very good Final dividend?

[dydx]

From the rather enthusiastic buying in the last 2 market days (23/24May), it appears there are investors willing to bet on something good coming - e.g. a 'jumbo' Final dividend - in conjunction with the release of the FY11 (ended 31Mar11) full-year results expected by 31May11. Just based on the $26.079m profit from the sale of business and assets by 60%-owned subsidiary Eastern Directories P/L to SPH (completed in Oct10) alone, it is already a given that Eastern Holdings will report a huge profit increase in FY11.

Let's hope there will be a good Final dividend. Otherwise, the short-term investors will likely rush for the door like a herd.

[SLC81]

From the rather enthusiastic buying in the last 2 market days (23/24May), it appears there are investors willing to bet on something good coming - e.g. a 'jumbo' Final dividend - in conjunction with the release of the FY11 (ended 31Mar11) full-year results expected by 31May11. Just based on the $26.079m profit from the sale of business and assets by 60%-owned subsidiary Eastern Directories P/L to SPH (completed in Oct10) alone, it is already a given that Eastern Holdings will report a huge profit increase in FY11.

Let's hope there will be a good Final dividend. Otherwise, the short-term investors will likely rush for the door like a herd.

Very high chance of a good final+special dividend i think in the range of 3-5 cents

[dydx]

As expected, Eastern Holdings has just released a set of rock-solid results for FY11 (ended 31Mar11).....
http://info.sgx.com/webcoranncatth.nsf/V...00034CDAC/$file/EHL_full_year_results_31032011.pdf?openelement

Based on the 300.0m outstanding issued shares, a NP of $27.757m, and an Equity of $73.642m, FY11's EPS came to $0.0925, and per share NAV as at 31Mar11 stood at $0.2482. As at 31Mar11, the group had a cash balance of $23.0m - equivalent to approx. $0.077/share - and total bank debts (linked to certain property assets) of $20.16m.

Instead of announcing the usual Final dividend together with the results announcement, Eastern Holdings' BOD has decided to keep shareholders in suspense by describing the Final dividend payment in 3 words: "To be advised". Tida boleh tahan!!

[cif5000]

Instead of announcing the usual Final dividend together with the results announcement, Eastern Holdings' BOD has decided to keep shareholders in suspense by describing the Final dividend payment in 3 words: "To be advised". Tida boleh tahan!!

But it shouldn't be a surprise at all. They had done the "To be advised" thing for FY09 and FY10.

[dydx]

Eastern Holdings is buying an industrial property (no details provided) located at Kaki Bukit Crescent for $4,150,000.....
http://info.sgx.com/webcoranncatth.nsf/V...7002F18FA/$file/Acquisition_of_property.pdf?openelement

Based on the purchase consideration, it is likely a small property, or one Eastern Holdings is buying at a rock-bottom price. Eastern Holdings' management has a pretty good track record of buying property assets at big marked-down prices.

Map of Kaki Bukit Crescent.....
http://www.streetdirectory.com/asia_trav...el_site_1/

[ngcheeki]

Instead of announcing the usual Final dividend together with the results announcement, Eastern Holdings' BOD has decided to keep shareholders in suspense by describing the Final dividend payment in 3 words: "To be advised". Tida boleh tahan!!

Based on the AGM notice, the final dividend is 0.3333 cents. See the following for more information.

http://info.sgx.com/webcoranncatth.nsf/V...60018FA0A/$file/EasternHoldingsLtd-NoticeofAGM.pdf?openelement

Vested