GL Limited (formerly: Guoco Leisure)

[guru]

For sure better than FD. Was flipping through last year's AR, the land in Hawaii and Fiji was mentioned as expected to be disposed within next 12 months or so. Any idea if this has been standard wordings all along? The carrying amount is $180m. Assuming the land sold at carrying value, it will be halving its debt burden.

The group has also undertaken asset enhancements on its UK properties, personal opinion is that it could be packaged as a REIT or if there is a bidder that will be willing to pay the asking price.

Both ideas above probably may not materialise any time soon due to the current economic conditions we are witnessing. Q is whether you want to hold on to it collect 3% FD while SG REITs can give you double that yield.

*vested*

[valueinvestor]

Result and dividend are within expectation. No surprise , but still hopeful there will be surprised.

( Vested

[propertyinvestor]

For sure better than FD. Was flipping through last year's AR, the land in Hawaii and Fiji was mentioned as expected to be disposed within next 12 months or so. Any idea if this has been standard wordings all along? The carrying amount is $180m. Assuming the land sold at carrying value, it will be halving its debt burden.

The group has also undertaken asset enhancements on its UK properties, personal opinion is that it could be packaged as a REIT or if there is a bidder that will be willing to pay the asking price.

Both ideas above probably may not materialise any time soon due to the current economic conditions we are witnessing. Q is whether you want to hold on to it collect 3% FD while SG REITs can give you double that yield.

*vested*

I dont like SG Reits. Yields are good but after looking at the fee structure, Im not touching any listed REITs here. Rather buy the REIT manager

[greengiraffe]

Hi Stocker,

I m back tracking to your 1st thread on GL - sounded like you have attended the last AGM.

In your opinion, between GL and St******, which management team is more sincere towards enhancing shareholders' wealth.

On GL, did Quek himself answered any strategic questions personally?

When management confirmed that value of its hotel portfolio is doubled that of balance sheet - have they indicated any intent on how value can be unlocked or are they evasive?

GL is probably the simplest entity within the Guoco Gp stable. Seriously boring and very likely the same questions will be raised in AGMs.

Thanks
GG

This one is trading at steep disocunt to its RNAV. Last AGM , the menagement confirmed the value of its hotel portfolio should be more than double of what it has been stated in BS.
But buying interest is rather muted.

---

Wow, Bass Straits oil and gas royalty went up by 9% for this year!

Oh 2 USD cents? Thats higher than my estimate.

correction 2 SGD cents - flat against last yr

[Stocker]

Hi gg,
I attended last AGM of GL.
I felt OCK is more proactive and vocal, because OCK took most of the questions , except some accounting issues, which answered by Tay L W. He might tell the SHs more when being asked.
QLC seemed to be a shy person, he chaired the meeting but less vocal. He did confirm the estimated market value of the hotel was USD2.1 when one SH asked, after checking with the CFO .
OCK has a good track records of unlocking values and shared with fellow SHs.
QLC also declared special dividend to SHs of Guoco HK after selling Dao Heng bank to DBS in year 1999.
I think both Gentlemen had fairly good records on unlocking of SH values.

[cfa]

Go into slumberland again. Only active for 2 days.

[Share Investor]

Becoming boring again. Waiting for it to fall back to 56 or 57 cents before buying some more. Dividend of S$0.02 is decent but not really attractive. Something to hold on for a long long time.

[Stocker]

It will spur to life again if QLC resumes his purchases from the open market. But his silence may not be a bad thing at all.

[Share Investor]

About Molokai, read that there had been strong resistance from the locals against developing the land for tourism and wind farm.

[propertyinvestor]

No amount of share purchases by propertyinvestor can push up Gucoleisure's price