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Stamford Land
23-12-2010, 01:06 AM, (This post was last modified: 24-12-2010, 12:05 PM by cyclone.)
Post: #11
RE: Stamford Land
STAMFORD ANNOUNCES PLANS FOR THE POSSIBLE REDEVELOPMENT
OF ITS PROPERTY AT NORTH RYDE, SYDNEY


1 Clarification to article “Hotel to go in Sydney proposal” published in The Australian Financial Review on 20 December 2010
2 Possible re-development of the property located at North Ryde, Sydney is part of the on-going strategy to optimize yields for the Groupâ€s assets

Looks like a potential piece of good news for shareholders if they choose to pursue this in the near future to unlock value in the Company.

(Not Vested)
Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.

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30-12-2010, 05:51 PM,
Post: #12
RE: Stamford Land
Lim & Tan wrote a small piece on Stamford Land today.

http://www.remisiers.org/cms_images/30dec10-daily.pdf
Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.

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31-12-2010, 10:48 AM, (This post was last modified: 31-12-2010, 10:50 AM by SLC81.)
Post: #13
RE: Stamford Land
In 2007, the L&T Analyst gave this company the price tag of $ 1.16 but the deal to sell Stamford hotel properties in N&Z did not go through (Mr. Ow stated later that it is Stamford Land did not want to sell probably due to the offer price is lower than he expects). I think he may try to sell the hotel properties again, beside, FY2012 number would be good as profit recognition from Stamford residents sold will be recognized.

If you look at history of Singapore Shipping and Cougar Logistic, Mr. Ow has alway treated minority share holders well so if any divestments/substantial profit are to be made, minority share holders are likely to have very handsome cash distribution.

I got some shares in 2009 for 19.5 cents (precisely at the bottom) but sold few months later at 32 cents (No where near to the top LOL) and it has now became one of my biggest blunders.

Still have very minor shares holding and going to leave it there for sometime.





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31-12-2010, 11:51 AM, (This post was last modified: 31-12-2010, 01:13 PM by SLC81.)
Post: #14
RE: Stamford Land
(31-12-2010, 10:59 AM)tonylim Wrote: What is the average selling price of new high-end apartment in North Ryde area ? Anyone here can help to advise, thanks?

Hi Tony, It is still very very early to figure out how much potential revenue and profit going to be as they've just kicked of the redevelopment plan and from now till the authority approval there could be lot of changes. I think this would be combination of Hotel and Luxury Residential development and not just luxury residential development as this proven successful model and easier to get authority approval.

The funding will also be substantially higher then $175 mils reported ( could be 3 time as much).

It may takes many years till this materialize but this is a very positive development as people now start looking and re-evaluating Stamford Land taking into consideration of the hidden value of its hotel properties and Stamfordland's ability to enhance the value of these properties.







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03-02-2011, 04:33 PM,
Post: #15
RE: Stamford Land
Stamford Land reported a decent set of results with core earnings of $17.5 million for 9M 2011. This translates to a 9M EPS of 2.05 SG cents.

http://info.sgx.com/webcoranncatth.nsf/V...penelement

(Not Vested)
Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.

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08-02-2011, 12:21 PM,
Post: #16
RE: Stamford Land
Hi all,

after lessing off the FV gain of 48m on Investment Ppty and related DTL on FV of 13m, presumbably majority being related to Dynons Plaza, the underlying profit is around 21m. This represents an improvement of 23% v LY, ignoring forex impact. I think this is a decent set of results, annualised EPS should come in at 3.2c. Give or take the loss of income due to the flooding, we should expect an ordinary EPS of 3c +/-, dividend should be 1c Ord, 1c Special.

Worry for me about this counter is still its high debt load, around 500m. I believe it is going to be a matter of time they will need to divest Dynons Plaza to cut down on gearing, though its gearing is still less than 1x.

Any other thoughts on this counter, anyone?

Cheers

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08-02-2011, 12:29 PM, (This post was last modified: 08-02-2011, 12:32 PM by Nick.)
Post: #17
RE: Stamford Land
I believe they are going to book in substantial revenue (and cash-flow) in FY 12 when their development projects (The Stamford Residences & Reynell Terraces in Sydney) are completed. Their FY 12 is in 2011 so it is not very far away.

The proceeds might be used to pare down their debt level. Moreover, the huge gain in profits will lead to growth in equity hence bringing down gearing level (even if the debts are not repaid).

Unless I am mistaken, their hotel properties are not valued marked to market. Instead they are classified in the PPE at cost price less accumulated depreciation. So their RNAV should be significantly larger.

(Not Vested)
Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.

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08-02-2011, 01:46 PM,
Post: #18
RE: Stamford Land
Can anyone comment on SL's gearing compared to other ppty developers? Just wondering if the debt load is too heavy.

Agree with Bro Nick on its hotels stated at cost and RNAV being much higher. I kind of remember they were offered quite a lot for its hotels before the financial tsunami hits.

The apartments, when sold should be able to generate substantial cashflow. Interesting thing to note regarding their ppty development is that revenues and profits are only recognsed upon TOP, unlike the usual accounting treatment of Progressive Recognition in most SG companies.

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08-02-2011, 05:32 PM,
Post: #19
RE: Stamford Land
To me, less than 1x gearing for a property company should be acceptable. Most people don't even down 50% for their own property and they are not even running a business!


(08-02-2011, 12:21 PM)guru Wrote: Hi all,

after lessing off the FV gain of 48m on Investment Ppty and related DTL on FV of 13m, presumbably majority being related to Dynons Plaza, the underlying profit is around 21m. This represents an improvement of 23% v LY, ignoring forex impact. I think this is a decent set of results, annualised EPS should come in at 3.2c. Give or take the loss of income due to the flooding, we should expect an ordinary EPS of 3c +/-, dividend should be 1c Ord, 1c Special.

Worry for me about this counter is still its high debt load, around 500m. I believe it is going to be a matter of time they will need to divest Dynons Plaza to cut down on gearing, though its gearing is still less than 1x.

Any other thoughts on this counter, anyone?

Cheers


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18-02-2011, 12:35 AM,
Post: #20
RE: Stamford Land
(18-02-2011, 12:13 AM)tonylim Wrote: Ow bought 700,000 shares on 15-16/02 at 0.606/0.61.

Don't think he ever bought so high before ? Must be really bullish about the property development projects to be completed this year.

(Not Vested)

Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.

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