China Merchants Holdings Pacific

[CityFarmer]

This is the article. Do note that this is in Chinese.

http://www.qlyjw.com/article/2224.html

One important thing to note is the date of the article, Nov 2011.

But anyway, a good article to better understanding the company

[sykn]

My Chinese is not kilat enough to understand fully, so I got my wife to read and summarise for me. There are not many details about the car park business which is referring to car parking problems in the big cities. But he has said many times about the option of delisting from SGX and re-listing (and I think also secondary listing) on the HK exchange. He lamented about the low share price (I checked - price in mid Nov 2011 was around 62 cents) where PB ratio was less than one, which prevented him from raising more funds to finance his expansion plans. He gave a veiled threat that if the share price didn't go up, the option of delisting was very real. Where does this leave us? I don't know. Maybe other forummers like to comment and pitch in with your views. To be realistic, the article is a bit dated, about 2.5 years old.

[Dividend Warrior]

Talking about carpark space.

These are the 12 most expensive buildings at Orchard to park your car.

http://sbr.com.sg/commercial-property/ex...r-car#show

Singapore's CBD most expensive place to park in region: report
By Ng Jing Yng, TODAY | Posted: 27 July 2011 0741 hrs

SINGAPORE: The Central Business District (CBD) in Singapore is the most expensive place in Southeast Asia to park a car, according to a report which looks at parking rates in global commercial areas.

It costs a driver an average daily rate of US$24.59 (S$30.40) to park his car in Singapore's CBD - more than 20 times what his counterpart in Jakarta has to pay.

Parking in the Indonesian capital's CBD costs an average of 92 US cents per day, the cheapest in Southeast Asia, according to the Colliers International Parking Rate Survey, which examined 156 CBDs in June.

In a similar survey last year, the daily average rate for parking in Singapore's CBD was US$21.53. Still, Singapore is not within the top 50 daily parking rates for CBDs around the world. The survey has Oslo in Norway as the priciest parking place at US$89.04 per day, followed by Copenhagen in Denmark at US$73.11 and Melbourne in Australia at US$69.53.

Colliers' chief economist Ross Moore said: "Be it for a day or a month, the cost of parking a car generally increased over the past 12 months. With the exception of the United States, all regions saw the price of parking go up." - TODAY

[Nick]

My Chinese is not kilat enough to understand fully, so I got my wife to read and summarise for me. There are not many details about the car park business which is referring to car parking problems in the big cities. But he has said many times about the option of delisting from SGX and re-listing (and I think also secondary listing) on the HK exchange. He lamented about the low share price (I checked - price in mid Nov 2011 was around 62 cents) where PB ratio was less than one, which prevented him from raising more funds to finance his expansion plans. He gave a veiled threat that if the share price didn't go up, the option of delisting was very real. Where does this leave us? I don't know. Maybe other forummers like to comment and pitch in with your views. To be realistic, the article is a bit dated, about 2.5 years old.

Price has appreciated by 50% since then. Managed to raise equity via HK$1.1 billion convertible bond issue to finance the acquisition of Beilun Expressway. Trading close to book value. In terms of market valuation, investor recognition and free float, there has been a marked improvement over the past few years. I doubt they will delist it any time soon. In any case, it's an old article - the Edge article published in Nov 2013 would be more relevant.

(Vested)

[Drizzt]

My Chinese is not kilat enough to understand fully, so I got my wife to read and summarise for me. There are not many details about the car park business which is referring to car parking problems in the big cities. But he has said many times about the option of delisting from SGX and re-listing (and I think also secondary listing) on the HK exchange. He lamented about the low share price (I checked - price in mid Nov 2011 was around 62 cents) where PB ratio was less than one, which prevented him from raising more funds to finance his expansion plans. He gave a veiled threat that if the share price didn't go up, the option of delisting was very real. Where does this leave us? I don't know. Maybe other forummers like to comment and pitch in with your views. To be realistic, the article is a bit dated, about 2.5 years old.

even though as nick says is a valid scenario, there is always a risk that they will delist and relist in hong kong. there is always the option to purchase it in hong kong if we deem them to still be operating well. the chances? perhaps huajian's eventual aim is to list there to compete with jiangsu and zhejiang. so a double listing or a delistinig is certainly possible.

[greengiraffe]

New deal in the making to further ambitions on Pan China toll roads?
Acquiring from shadow banking victims?

Vested
GG

http://infopub.sgx.com/Apps?A=COW_CorpAn...4fcb5f2f93

[CityFarmer]

New deal in the making to further ambitions on Pan China toll roads?
Acquiring from shadow banking victims?

Vested
GG

http://infopub.sgx.com/Apps?A=COW_CorpAn...4fcb5f2f93

It is more likely from its parent company, IMO

After the lofty valuation of water stocks, time to shift to other stocks having similar business model.

(recently vested)

[Nick]

I don't think the parent holds majority stake in any expressways presently. Any deals will involve either third party acquisition (like Beilun) or some wheeling and dealing at parent side.

[valuebuddies]

New deal in the making to further ambitions on Pan China toll roads?
Acquiring from shadow banking victims?

Vested
GG

Seeking dual listing in HK? But from the past 3 halts, all were related to major acquisitions...

[CityFarmer]

New deal in the making to further ambitions on Pan China toll roads?
Acquiring from shadow banking victims?

Vested
GG

Seeking dual listing in HK? But from the past 3 halts, all were related to major acquisitions...

Dual listing in SEHK seems premature, with existing market cap of the company, is lower than S$700 mil, or approx HK$4.4 billion. It will become an "ikan bilis" (small fish in Malay) once move to SEHK now.

The smaller toll road stock in SEHK, e.g. Shenzhen Exp, has already a much bigger market cap, with more than HK$ 10 billion. The top toll road players in SEHK are easily having than HK$ 40 billion of market cap.

(vested)