GL Limited (formerly: Guoco Leisure)

[paullow]

Buying seems persistent today. Hope it will follow thru.

How many lots have you bought? 10000?

10000lots? means 10m shares? wow thats a cool $5.8m!

[propertyinvestor]

Buying seems persistent today. Hope it will follow thru.

How many lots have you bought? 10000?

2 lots .

200lots say 200lots lah. Mortgage your house buy 2 lots only?

Om queuing to buy 200lots everyday at 56, 55 and 54.5

[thleong]

Jeeny Chua retires from Capitaland as Chief Corporate Officer.
Joins Guco Leisure as Director.

I hope she can help influence QLC to sell some hotels like what she did to Raffles Hotel in 2005

Or build a REITS similar to Ascott and unlock the values

[cfa]

Should take off any time from here. Accumulate if possible.

[greengiraffe]

LC Kwek is a seasoned banker and surely he knows all the tricks to unlock value. The main issue here is if he has the incentive to do so and he is kind enough to reward minorities.

So far due to the complicated family holdings within the H L Group (Sing and M'sia combined), there is a lack of incentive to do too much to enrich any parties and hence status quo.

That said, GL is under the direct control of Guoco Group HK so it really depends if there is any urgency for GG HK to reward themselves.

Marathon's recent selling could be indicative of their fatigue in their waiting game. Given that GG HK has previously bought out ex substantial holder 3rd Avenue around $0.75 / share in 2010 (correct me if I am wrong), there remains a possibility that GG may pull the same trigger to lift its stake further.

In any event, assuming a new privatisation attempt at S$0.80, GG HK just need to buyout the outstanding 457.802m shares costing S$366.2m or US$293m. Its an insignificant amount to GG HK and full ownership will provide unlimited flexibility to realise assets piecemeal.

Just to note on a further complication to the above equation is the good possibility of buying out the financially weak Spanish stake in Bank of East Asia - a prized catch that GG HK has been eyeing for years post the sale of Dao Heng to DBS. Re-capturing a bank appears to be more attractive than to enrich minorities since GG HK is already in firm control of GL.

Sorry if I am not adding much value and add confusion to the GL discussion

[Stocker]

Opportunity costs for investing into GL could be v. high. Institutional investors are also running out of patient.
Not easy for QLC to gain control over BEA, because the Li family and their HK fellows do not want to see BEA fall into oursider's hand, due to the fact that not many local HK banks are still in control by the Hongkongers.

[propertyinvestor]

Opportunity costs for investing into GL could be v. high. Institutional investors are also running out of patient.
Not easy for QLC to gain control over BEA, because the Li family and their HK fellows do not want to see BEA fall into oursider's hand, due to the fact that not many local HK banks are still in control by the Hongkongers.

Marathon Asset management is useless. They reject the takeover offer for STATS CHIPPAC at 1.88 when Temasek made the general offer last time. Look at the price now.

[thleong]

LC Kwek is a seasoned banker and surely he knows all the tricks to unlock value. The main issue here is if he has the incentive to do so and he is kind enough to reward minorities.

So far due to the complicated family holdings within the H L Group (Sing and M'sia combined), there is a lack of incentive to do too much to enrich any parties and hence status quo.

That said, GL is under the direct control of Guoco Group HK so it really depends if there is any urgency for GG HK to reward themselves.

Marathon's recent selling could be indicative of their fatigue in their waiting game. Given that GG HK has previously bought out ex substantial holder 3rd Avenue around $0.75 / share in 2010 (correct me if I am wrong), there remains a possibility that GG may pull the same trigger to lift its stake further.

In any event, assuming a new privatisation attempt at S$0.80, GG HK just need to buyout the outstanding 457.802m shares costing S$366.2m or US$293m. Its an insignificant amount to GG HK and full ownership will provide unlimited flexibility to realise assets piecemeal.

Just to note on a further complication to the above equation is the good possibility of buying out the financially weak Spanish stake in Bank of East Asia - a prized catch that GG HK has been eyeing for years post the sale of Dao Heng to DBS. Re-capturing a bank appears to be more attractive than to enrich minorities since GG HK is already in firm control of GL.

Sorry if I am not adding much value and add confusion to the GL discussion

Thanks for sharing the background.
Will collect the 2 cents Div for the time being

[valueinvestor]

Leng Chan will not be that silly to just hold on to his stake of 67%, earning S$1.5 to 2 cents dividend a year. Moreover although he is the Executive Chairman but he is not getting a fat remuneration from Guoco Leisure , he is only getting a fee of below S$250,000 just like ther I.D.
So do U guy think the status quo will not be changed ? Just a matter of time and need to be very patient with him.

[freedom]

IMO, not only QLC is unlikely to sell any of GuocoLeisure's assets for money, but QLC could probably enlarge the asset base of GuocoLeisure with its profits for more prime hospitality assets.

For people like QLC, what does money really mean? It is unlikely that QLC will not have enough money for his personal life. I don't believe that the riches want to own money, but great long-lasting business. It is a courtesy for QLC not take huge pay from GuocoLeisure. It speaks volumes for the generosity of him.

Hospitality is a business standing all along in the history. It would continue to exist for foreseeable future. Freehold properties in prime London will continue to be worth a fortune, especially so with inflation happening all the time.

Those who is dreaming that QLC will continue to sell more hotels for cash, could continue to dream. It is unlikely to happen.