Global Premium Hotels

[zerobeta]

just a small curiosity

why their IR website got say "cigarette packaging"

http://www.gphl.com.sg/ir/html/ir_overview.php#

[opmi]

just a small curiosity

why their IR website got say "cigarette packaging"

http://www.gphl.com.sg/ir/html/ir_overview.php#

should be their web designer used someone else template...

[greengiraffe]

Singapore tycoon Koh Wee Meng acquires $100m hotel project site

• THE AUSTRALIAN
  
• OCTOBER 05, 2015 12:00AM
  

0

Ben Wilmot
[Image: ben_wilmot.png]
Commercial Property Editor
Sydney

Lisa Allen
[Image: lisa_allen.png]
Property & Tourism Reporter
Sydney

[Image: 724409-01b664ec-6a50-11e5-95d3-14a82c556d0b.jpg]
GLP will acquire 36 St Georges Terrace and 10-14 Pier Street in Perth for $23.85m. Source: Supplied
[b]Singaporean property tycoon Koh Wee Meng has bolstered his presence in Australia’s hotel market with a $100 million project planned in Perth.[/b]
Singapore-listed Global Premium Hotels, which Mr Koh chairs, has forked out almost $24m on a Perth development site that has approval for a tower that will cost $88m to build.
GLP operates one of Singapore’s largest hotel chains and Mr Koh has been dubbed the “Geylang King”, after his success in developing budget projects in one of the island’s seedier districts.
The moniker has not slowed Mr Koh’s emergence as one of the region’s most active developers and GLP now has 23 hotels with 1982 rooms in Singapore. Twenty-one of the hotels are operated as Fragrance hotels and two as Parc Sovereigns.
GLP has just agreed to acquire the site known as 36 St Georges Terrace and 10-14 Pier Street in Perth for $23.85m. Planning documents show it was owned by the Uniting Church in Australia Property Trust of WA but GLP will buy the site via an option deal involving another party.
A proposal has been approved to demolish the two buildings on the site to make way for a 41-level mixed-use development, including 280 residential dwellings, retail and dining tenancies and 240 parking spaces. St Andrew’s Uniting Church heritage building would be conserved.
The 2600sq m site faces the St Georges Terrace and overlooks the Supreme Court Gardens, with views towards Swan River. GLP said the property could be redeveloped into a hotel.
Mr Koh set up the Fragrance Group in the early 1990s and the Singapore-listed group is the controlling shareholder of GLP. He forged into the Australian market last year via Fragance Group which bought sites in Melbourne and Perth for major apartment towers and hotel projects.
The group is also planning to grow its Australian unit to a sufficient size that can spin its off from listed Fragrance Group into a separate company.

[weijian]

2nd attempt by Mr Koh, and the latest of the 4th takeover attempt in the last 1 month. It does seem like the private owners are believing their companies are undervalued in general.

VOLUNTARY CONDITIONAL CASH OFFER FOR GLOBAL PREMIUM HOTELS LIMITED

http://infopub.sgx.com/FileOpen/GPHL_Off...eID=440525

http://infopub.sgx.com/FileOpen/Offer_An...eID=440526

[opmi]

I thought the first one was more technical after the GPH was distributed from Fragrance?

Maybe it is time to look at hotel stocks and REITs....

[weijian]

hi opmi,
GPH wasn't distributed to Fragrance's shareholders, more like a typical IPO by selling down a 45% stake? Some references from previous threads in VB on GPH:

IPO: https://www.valuebuddies.com/thread-1992...l#pid23166
first offer in Arpil 2014 close: https://www.valuebuddies.com/thread-1992...l#pid80896

[opmi]

hi opmi,
GPH wasn't distributed to Fragrance's shareholders, more like a typical IPO by selling down a 45% stake? Some references from previous threads in VB on GPH:

IPO: https://www.valuebuddies.com/thread-1992...l#pid23166
first offer in Arpil 2014 close: https://www.valuebuddies.com/thread-1992...l#pid80896

got la. if not, how KWM get all the GPH shares in his own name...


CIRCULAR TO SHAREHOLDERS in relation to the PROPOSED DIVIDEND IN SPECIE OF 537,138,000 SHARES IN GLOBAL PREMIUM HOTELS LIMITED ON THE BASIS OF 0.08 SHARES IN GLOBAL PREMIUM HOTELS LIMITED FOR EACH SHARE IN FRAGRANCE GROUP LIMITED

http://infopub.sgx.com/FileOpen/Fragranc...leID=20985

[weijian]

opmi,
I see, thanks alot for correcting my mistake as I didn't look closely.

[weijian]

Mr Koh's takeover attempt has reached the 90% mark (71% before the G.O was announced on 23rd Feb) that allows GPH to be suspended on the exchange. For compulsory accqusition, he needs 71 + 0.9*(100-71) = 97.1%, which is considerable some basis points away, but not exactly far away with the suspension creating more pressure for minorities to sell.

http://infopub.sgx.com/FileOpen/GPHL_Los...eID=446919

[opmi]

Mr Koh's takeover attempt has reached the 90% mark (71% before the G.O was announced on 23rd Feb) that allows GPH to be suspended on the exchange. For compulsory accqusition, he needs 71 + 0.9*(100-71) = 97.1%, which is considerable some basis points away, but not exactly far away with the suspension creating more pressure for minorities to sell.

http://infopub.sgx.com/FileOpen/GPHL_Los...eID=446919

actually Koh's vehicle JK Global is a 'fresh vehicle' incorporated in 2017, so 90% can do CA 215 already..