GL Limited (formerly: Guoco Leisure)

[Stocker]

http://research.uobkayhian.com/content_d...1e6a425b3f

[l0nEr]

Once Guoco HK is privatized , it is even more easier to privatize companies substantially owned by Guoco HK owing to different sets of regulartory frame works and listing rules.

I have a question...
actually if Mr Quek buys back Guoco Group, would he still have the $$ to buy back the other entities?

[valueinvestor]

Guoco group has about US$4 Billions cash. This is the whole purpose of taking it private.

[valueinvestor]

In play today.

[greengiraffe]

Guoco Group privatisation details finally out:

HK$88.00 a share for company that is worth HK$130.00 book value

http://www.irasia.com/listco/hk/guoco/an...cement.pdf

[Share Investor]

Guoco Group privatisation details finally out:

HK$88.00 a share for company that is worth HK$130.00 book value

http://www.irasia.com/listco/hk/guoco/an...cement.pdf

So even if guocoleisure is privatised, we should not expect too much la.

---

Guoco Group privatisation details finally out:

HK$88.00 a share for company that is worth HK$130.00 book value

http://www.irasia.com/listco/hk/guoco/an...cement.pdf

So even if guovoleisure is privatise, we should not exprct too much la.

[propertyinvestor]

I predict takeover offer price of Guocoleisure to be 88c

[Share Investor]

I predict takeover offer price of Guocoleisure to be 88c

If it is 88 cents, that's worse than the last offer!

Well, Guoco Group's shareholders might not find the offer attractive enough to accept. Let's see.

[Stocker]

Guoco Holding reported a loss of more than HK$1 Billion last FY and its share price drop to HK$70.00 . QLC decided to take private .

[greengiraffe]

Hi Mate,

Quek is a seasoned banker. 53.HK is a investment holding company that has cash on top of listed subsidiaries.

53.HK's losses are largely due to mark to market on its value of investments. If you stripped out the debt attributed to Guoco Land, Leisure and Rank holdings, I believe that one of the buddies mentioned that it is sitting on US$4bn cash.

Moreover 53.HK has always been harbouring hopes of regaining a HK Bank - in this case Bank of East Asia. Hence apart from its existing holdings in BEA and HL Bank Group in Malaysia, it is hardly running any business.

It is better that they delist an unloved redundant investment holding company and then slowly clean up the undervalued parts sitting within 53.HK.

The book value of HK$132 is already undervalued considered that they reflect the book values of listed subsidiaries like Guoco Land and Leisure. So if he is successful at HK$88, then overtime we can expect similar repeats at Guoco Land and Leisure. That said, it will be interesting to keep a lookout for an independent director recommendation on the offer as the investment bank may have to review every single property that Guoco Land, Leisure and even Rank holdings hold and derived at a revaluation for us to have a clearer picture of what these companies are really worth.

Guoco Leisure at $0.88 is just slightly above book value and I am pretty sure Quek will give it a go. Timing of course is uncertain and can take a super long time.

Guoco Holding reported a loss of more than HK$1 Billion last FY and its share price drop to HK$70.00 . QLC decided to take private .