Pacific Century Regional Developments

[Debronic]

Just curious. Did anyone attend today's AGM? I couldn't attend due to other commitments. Would be good if anyone can provide a brief summary of the proceedings. Thanks!

[Debronic]

PCRD’s share price has doubled over the last 3 years to a multi-year high of S$0.345 as at 16 April 2015 but yet remains very much undervalued. With the Company aggressively buying back its shares and reducing its public float to just above 13%, we think there is a good chance that this will be the year Richard Li finally privatises the Company.

Full details here:

http://stockresearchasia.com/1/post/2015...-pcrd.html

Business times ran a similar article 3 days ago:

http://business.asiaone.com/news/pacific...-delisting

[dydx]

Just based on the fact that PCRD has been actively buying back its own shares, and is willing to pay as high as $0.405/share in the last purchase on 29Apr15.....
http://infopub.sgx.com/Apps?A=COW_CorpAn...7d34354836
there is clear evidence that the PCRD share is indeed worth a lot more.

Richard Lee will have the final call on whether he would privatise PCRD in order to derive maximum value on the company's valuable business assets for his own benefit. I guess it is reasonable to believe that this should eventually happen, and those remaining minority shareholders of PCRD at that point would stand to gain the most.

[Debronic]

Some PCRD updates not shared previously as I was away and busy since I returned:

http://stockresearchasia.com/1/post/2015...pdate.html

Also company continues its aggressive share buybacks as soon as the 2 week blackout period ended on 13 May 15 and share price resumed climbing immediately after that. Today, it bought back 3.1 mil shares at between 44 and 44.5 cts, up from 42.5 cts 2 days ago. Between the two days, it bought back around 0.25% of the shares, cutting the free float to just 12.9% now.

[pianist]

Great to hear that. Fully vested at below 20cents nil shares sold to date.
Santa Claus ? is giving early present this Christmas. Huat huat

[opmi]

http://www.streetdirectory.com/businessf...nchid=9439

United Caoutchouc Trading Co. Pte Ltd

Shaw House #21-06, 350 Orchard Road, (S)238868

(Registered Office?)


PCRD minorities better hope there is no secret 4.99% shareholder lurking behind. If there is and he crosses 5%, no free float liao...

[pianist]

His name indicated he a indon?
Either he punted big time near recent closing prices..or a kiasu minority shareholder spotted
Moderator Pl consider to merge this thread

[BlueKelah]

Wesley widjaja? Is he from the widjaja family involved in the asia paper and pulp fiasco ? If so it is very Iikely he already has a big stake and this letter is just to help push up the price before the final offer comes out, if it does at all.

sent from my Galaxy Tab S

[CY09]

http://infopub.sgx.com/FileOpen/SGXnet%2...eID=488484

PCRD has surprised with a dividend announcement of 2.2 cents. This is likely because the company has nearly paid down all its debts. Most of PCRD's cashflow generation comes from the annual dividends declared by PCCW, which is listed in HKSE.

PCCW in Hong Kong has reported profit growth thus far, despite declining revenue. And in my opinion, PCCW's earnings is poised to grow further. PCCW owns,Viu, that has broken successfully into the South East Asia Market. Viu streams HK/Korean/Japanese shows on its online channel. Users can either watch it for free or as a Viu-premium user (which costs a monthly fee of $6 per month). Year on year, VIU viewership has grown by 400%. It is similar to Netflix and Disney's recent TV subscription model. The key now is how to transform this segment into another cash generation division.

PCCW is likely to disrupt the current pay TV model in South East Asia. If one wishes to be invested into the new Pay TV segment which is disrupting the profitability of Singtel and Starhub TV segment but don't want to incur fees holding onto a HKSE share, perhaps PCRD is a good option

<Monitoring>

[slowandsteady]

It's a pleasant surprise, first dividend for a long time. Looks like Richard Li's play book is going something like this:

1. Buyback shares till the edge of losing free float
2. Clear debt till none left
3. Pay out dividends till ...?


Always thought step 3 would be store cash in company till it's enough to buyout remaining 12% without cash outlay. Weird why the cash is being paid out. A quick calculation assuming 2 years of dividends from PCCW & HKT stored in the company will allow a GO at 65c. 3 years would allow 98c. This seem to be logical move?

Based on the latest dividends from PCCW & HKT of 104.5M, that works out to 3.9c per share of cash flow (able to sustain 11% dividend yield)
Based on PCCW market value the stake is worth over 50c, with HKT, KSH, and other businesses for free.

Anyway happy to see how this evolves.