Hotel Grand Central

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    Good evening everyone.

From today BT - Hidden value in hotels

<Vested Here>

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Good Morning Everyone.

Off topic news.
**Tan Chee Hoe & Sons also owns Auckland's West Plaza Building on Albert Street, 180 Molesworth Street in Wellington and is the majority shareholder in the Singapore-listed Hotel Grand Central.**

Agents appointed to ex-Topshop premises
16 Oct, 2017 11:21am
Retail leasing specialists have just been appointed to find new tenants for the ex-Topshop and Topman premises - one of Auckland's most prominent shop sites which commanded an annual rent of about $1.3 rent million a year.
Specialist retail leasing agents Nathan Male and Jarred Dons of Metro Commercial
and Colliers retail director Nilesh Patel now have signs up on the Victoria St and Queen St window facades of the big shop premises.
Male originally leased the premises to Topshop three years ago and said at the time that Queen St was getting significant retailers and that heavyweights like Topshop would add critical mass to the area and firmly cement it as the youth fashion precinct of the city, he said.
Leasing appointments are understood to have been made on Friday.
Insiders say the only takers will be other high-end fashion brands, or the ex-Topshop premises could be split into far smaller tenancies.
That would potentially result in the leasing bringing in a far higher sum than Topshop was paying building owners Tan Chee Hoe & Sons from Singapore which one specialist said was around $1.3m a year.
Tan Chee Hoe & Sons also owns Auckland's West Plaza Building on Albert Street, 180 Molesworth Street in Wellington and is the majority shareholder in the Singapore-listed Hotel Grand Central.
Through another company, Hotel Grand Central owns and operates Hotel Grand Chancellor in central Auckland, Hotel Grand Chancellor Auckland Airport and the James Cook Hotel Grand Chancellor in Wellington.
Patel said today no information memorandum was available and he was consulting Top Retail's receivers before he could release any information. He could not say if $1.3m or more was being sought.
McGrathNicol's Conor McElhinney and Kare Johnstone were appointed receivers to Top Retail on September 7. They are yet to issue their first report.
The basement, ground and first floors of 203 Queen St are being leased beneath the 12-storey office building, sold to the Singaporeans for $44m in 2013.
Topshop had 1273sq m, paying around $1000/sq m for the space, sources said.
Although Topshop's removable fixtures have now gone, extensive and valuable fit-out features remain. These include lighting, air conditioning, ceilings and wall furnishings. Other fashion retailers could move into the areas, change very little and take advantage of these assets, the specialist said today.
The premises were unsuitable for commercial or office tenants because they were far too valuable, he said. Before Topshop leased the premises, the ANZ Bank occupied that site opposite Farmers.
QV details show 203 Queen St was valued at $23m in July 2011: $16.7m for the building constructed around 1960 and $6.3m for the site.
Asked for leasing information, Kare Johnston said interested parties had signed confidentiality agreements.
"The lease with the landlord and Top Retail was for a 10 year term with two renewals of five years each. The lease can either be assigned or a new lease entered into with the landlord. If anyone has any interest in leasing the site they should contact the receivers or one of the agents," Johnston said.

http://www.nzherald.co.nz/business/news/...d=11933428

*Note - Hotel Grand Chancellor Auckland Airport sold in 2014*

<Vested><Not a call to Buy or Sell>

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Good Friday Morning Everyone.

full yr results out.

EPS 5.71c

Nav $1.92

Div 5c+3c(scrip at option of shareholder)

Rental income from investment properties $16.351m
(In addition, the Group's two new investment properties in New Zealand are expected to contribute a full year's contribution to 2018 earnings compared to a part year contribution to 2017 earnings)

<Not a call to Buy or Sell><Vested>

http://infopub.sgx.com/FileOpen/HGCDec20...eID=491185

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From TheEdge Singapore

Hotel Grand Central's FY17 earnings fall 27% to $38.6 mil on absence of one-off gain on disposal
SINGAPORE (Mar 1): Hotel Grand Central saw its earnings fall 27% to $38.6 million for the FY17 ended December, from $52.9 million a year ago.

This was mainly due to the absence of a one-off gain of $28.4 million on the disposal of Hotel Grand Chancellor, Surfers Paradise in 3Q16.

Total revenue rose 8% to $163.0 million in FY17, from $151.4 million a year ago.

The increase was mainly due to the maiden contribution of revenue by Grand Central Building in Christchurch, which started recognising rental income in Jan 2017, as well as the purchase of two new investment properties in Christchurch and Hamilton in New Zealand 3Q17.

Revenue from hotel operations and management edged up by 3% to $146.7 million in FY17, from $141.8 million a year ago, while revenue from rental income from investment properties surged 71% to $16.4 million in FY17, from $9.5 million a year ago.

Earnings per share (EPS) fell to 5.71 cents in FY17, from 7.97 cents a year ago.

As at end December, cash and cash equivalents stood at $260.8 million.

Hotel Grand Central has proposed a final dividend of 5 cents per share and a special dividend of 3 cents per share for FY17.

This is higher than total dividend of 6 cents per share a year ago, comprising a final dividend of 5 cents per share and a special dividend of 1 cent per share.

Looking ahead, the group says the hotel markets where it primarily operates in are generally expected to improve in 2018.

In addition, the group's two new investment properties in New Zealand are expected to contribute a full year's contribution to 2018 earnings, compared to a part year contribution to 2017 earnings.

Shares of Hotel Grand central closed 2 cents up at $1.48 on Thursday.

https://www.theedgesingapore.com/hotel-g...n-disposal

<Not a call to Buy or Sell><Vested>

[Scg8866t]

From TheEdge Singapore

Hotel Grand Central's FY17 earnings fall 27% to $38.6 mil on absence of one-off gain on disposal
SINGAPORE (Mar 1): Hotel Grand Central saw its earnings fall 27% to $38.6 million for the FY17 ended December, from $52.9 million a year ago.

This was mainly due to the absence of a one-off gain of $28.4 million on the disposal of Hotel Grand Chancellor, Surfers Paradise in 3Q16.

Total revenue rose 8% to $163.0 million in FY17, from $151.4 million a year ago.

The increase was mainly due to the maiden contribution of revenue by Grand Central Building in Christchurch, which started recognising rental income in Jan 2017, as well as the purchase of two new investment properties in Christchurch and Hamilton in New Zealand 3Q17.

Revenue from hotel operations and management edged up by 3% to $146.7 million in FY17, from $141.8 million a year ago, while revenue from rental income from investment properties surged 71% to $16.4 million in FY17, from $9.5 million a year ago.

Earnings per share (EPS) fell to 5.71 cents in FY17, from 7.97 cents a year ago.

As at end December, cash and cash equivalents stood at $260.8 million.

Hotel Grand Central has proposed a final dividend of 5 cents per share and a special dividend of 3 cents per share for FY17.

This is higher than total dividend of 6 cents per share a year ago, comprising a final dividend of 5 cents per share and a special dividend of 1 cent per share.

Looking ahead, the group says the hotel markets where it primarily operates in are generally expected to improve in 2018.

In addition, the group's two new investment properties in New Zealand are expected to contribute a full year's contribution to 2018 earnings, compared to a part year contribution to 2017 earnings.

Shares of Hotel Grand central closed 2 cents up at $1.48 on Thursday.

https://www.theedgesingapore.com/hotel-g...n-disposal

<Not a call to Buy or Sell><Vested>

HGC management, one of the most OPMI aligned out there. Waiting for my 10% discounted scrip div. 

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Messrs. Tan happily scoop shares from the market, almost every trading day since August 24, 2018.

https://www.valuebuddies.com/news.php?co...%20LIMITED

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HOTEL GRAND CENTRAL: 50th anniversary, how much have you made from stock?

Hotel Grand Central gets no attention these days (and for many years already) from analysts or fund managers despite it being a relatively large stock (market cap: S$937 million).

It doesn't help that the listco's investor outreach has been minimal and hotel stocks in general have been out of favour.   

But a low profile is probably fine with the controlling shareholders of Hotel Grand Central: They have been busily picking up its shares throughout this year.

Maybe it's one of their ways to celebrate the 50th anniversary of the company, a vintage that few companies listed on the Singapore Exchange have achieved. 

A special 3-cent dividend along with a 5-cent ordinary dividend per share were paid this year by Hotel Grand Central, which listed in 1978, a good 40 years ago.

More details in https://nextinsight.net/story-archive-ma...e-you-made

[Shiyi]

HOTEL GRAND CENTRAL: 50th anniversary, how much have you made from stock?

Hotel Grand Central gets no attention these days (and for many years already) from analysts or fund managers despite it being a relatively large stock (market cap: S$937 million).

It doesn't help that the listco's investor outreach has been minimal and hotel stocks in general have been out of favour.   

But a low profile is probably fine with the controlling shareholders of Hotel Grand Central: They have been busily picking up its shares throughout this year.

Maybe it's one of their ways to celebrate the 50th anniversary of the company, a vintage that few companies listed on the Singapore Exchange have achieved. 

A special 3-cent dividend along with a 5-cent ordinary dividend per share were paid this year by Hotel Grand Central, which listed in 1978, a good 40 years ago.

More details in https://nextinsight.net/story-archive-ma...e-you-made

[Shiyi]

HOTEL GRAND CENTRAL: 50th anniversary, how much have you made from stock?

Hotel Grand Central gets no attention these days (and for many years already) from analysts or fund managers despite it being a relatively large stock (market cap: S$937 million).

It doesn't help that the listco's investor outreach has been minimal and hotel stocks in general have been out of favour.   

But a low profile is probably fine with the controlling shareholders of Hotel Grand Central: They have been busily picking up its shares throughout this year.

Maybe it's one of their ways to celebrate the 50th anniversary of the company, a vintage that few companies listed on the Singapore Exchange have achieved. 

A special 3-cent dividend along with a 5-cent ordinary dividend per share were paid this year by Hotel Grand Central, which listed in 1978, a good 40 years ago.

More details in https://nextinsight.net/story-archive-ma...e-you-made

The 8-cent dividend is unlikely for this FY. Its dividend pay-out ratio for the last FY was more than 100% of its earnings. Looks unsustainable.

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For the financial year ended 31 December 2018, the board is recommending 4.0 cents one-tier final cash dividend per ordinary share, no scrip at option of shareholder.

More details in https://links.sgx.com/FileOpen/HGCDec201...eID=545926