HupSteel

[bargainhunter]

actually, the fact that they spent so much time waiting for the right MNC tenant is not really a negative? afterall, they did develop the entire building in cash and CEO did explain in the agm 2 years ago that he preferred not to lease it in bits and pieces to different small tenants.

[brattzz]

actually, the fact that they spent so much time waiting for the right MNC tenant is not really a negative?   afterall, they did develop the entire building in cash and CEO did explain in the agm 2 years ago that he preferred not to lease it in bits and pieces to different small tenants.

yeah, it's as per plan, so CEO, coe is sticking to his plan...

I like him already!

[Shiyi]

actually, the fact that they spent so much time waiting for the right MNC tenant is not really a negative?   afterall, they did develop the entire building in cash and CEO did explain in the agm 2 years ago that he preferred not to lease it in bits and pieces to different small tenants.

yeah, it's as per plan, so CEO, coe is sticking to his plan...

I like him already!

Any one attended the AGM? Why is it that there was 10%votes against the Special Dividend?

[bargainhunter]

No one raised any violent objections to the special dividends. not sure why the 10% of votes voted against. there wasn't any fireworks at this year's agm. in fact, those who spoke praised the management that they had done well against the harsh environment and hoped that they would continue to unlock value and pay out dividends.

CEO updated that 38 Genting Lane would continue to be multi tenanted after rebuild vs single tenant for 6 kim chuan drive.

http://infopub.sgx.com/FileOpen/Ann%20on...eID=480979

As usual, they would use cash to pay for the cost of $9.3m to rebuild.

[bargainhunter]

http://stockresearchasia.com/latest-reco...-vengeance

Hupsteel- Management moving in the right direction

Our interest in Hupsteel stems from our belief that management changes (Stepping down of co-CEO and change of Chairman) in the last 2 years would spur the company to unlock substantial value from its attractive portfolio of freehold properties. That remains pretty much the case.

Since our initial report in late 2017, the Company has already announced two major developments with respect to its property portfolio:
The redevelopment of 38 Genting Lane into a new 8-storey industrial building capable of being strata subdivided for use by multiple users; and
Successfully leasing out of its previously vacant industrial property at 6 Kim Chuan Drive
Further, Hupsteel’s management has also explicitly expressed its willingness both in its FY2018 annual report and in verbal communications during last October’s AGM to seek ways to unlock value for shareholders, for example, “through monetizing long term assets and returning the cash generated to shareholders by way of dividends.”

The market though appears to have completely ignored the company's efforts and intentions in this area. For despite the company raising its dividend payout for the 3rd year in a row to 4 cts a share for FY2018, representing an attractive yield of 5.1%, the stock continues to trade at a sizeable 32% discount to just the sum of its liquid assets (cash + listed securities) and value of investment properties. Nonetheless, should the management succeed in monetizing some of its investment properties, Hupsteel shareholders can expect happier days ahead.

[bargainhunter]

https://links.sgx.com/FileOpen/_Butterme...eID=561895

Buttermere Capital crosses 5% of Hupsteel after buying 592,200 shares at $0.75 raising its stake to 5.3%

[bargainhunter]

https://links.sgx.com/FileOpen/_Butterme...eID=562377

Between 28/5 and 3/6, Buttermere Capital added a further 883,770 shares to increase its stake from 5.3% to cross 6%.

[cyclone]

Hercules Pte. Ltd. announces voluntary conditional cash offer for Hupsteel Limited

Highlights :
* Offer Price of S$1.20 per Offer Share, which represents a premium of approximately 58.60% over the VWAP per Share for the three (3)-month period
* The Shares have not been transacted on the SGX-ST at or above the Offer Price since May 2013
* Offer Price is final; the Offeror does not intend to revise the Offer Price
* Offer presents shareholders with a compelling cash exit opportunity to liquidate and realise their investment in the Shares at a premium to the prevailing market prices
* The Offeror has secured irrevocable undertakings representing 54.16% of the total number of Shares.

Hercules Pte. Ltd. has today launched a voluntary conditional cash offer for all of the issued and paid-up ordinary shares in the capital of Hupsteel Limited, other than any Shares held in treasury and those Shares held, directly or indirectly, by the Offeror.

The Offeror is the bid vehicle for the Consortium Members which comprises members of the Lim family.

More details in https://links.sgx.com/FileOpen/Hercules%...eID=565323

[Bibi]

I am surprised the Lim family decided to delist. I thought they would be happy to continue drawing their management salary. I was too impatient to hold on to this share and sold at a loss. No regrets though.

[brattzz]

Finally HS value has been unlock at a fair offer price, happy for mid term holders, Huat Har!!! 💪👍 👍
Boss Lim family can enjoy the FULL value, in private!! 👍👍