Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Far East Orchard Limited aka Orchard Parade Holding
21-05-2017, 06:38 PM.
Post: #81
RE: Far East Orchard Limited aka Orchard Parade Holding
Far east orchard has very conservative accting. Their deferred income of 303mil under payable liabilities is actually the non cash item from their lease out of orchard parade to feht. Those are amortized on a yearly basis. That means if we strip that out, its current price to rnav should be ard 0.4x. Not forgetting by this year(next quarter riverwalk and 2nd half balmain) closd to 100mil of rev recognition which is ard 12cts eps will be recognised from the two top.

Find Reply
22-05-2017, 01:07 PM.
Post: #82
RE: Far East Orchard Limited aka Orchard Parade Holding
Far East Orchard, though adopting a very conservative accounting, valued their PPE (i.e. freehold land and buildings) at revalued amount. This is unlike most property companies which carried them at cost. Therefore though the RNAV might be low, they have to take in revalued gains or losses in their P/L account every year on these assets.

Find Reply
22-05-2017, 01:15 PM. (This post was last modified: 22-05-2017, 01:45 PM by Scg8866t.)
Post: #83
RE: Far East Orchard Limited aka Orchard Parade Holding
(22-05-2017, 01:07 PM)ghchua Wrote: Far East Orchard, though adopting a very conservative accounting, valued their PPE (i.e. freehold land and buildings) at revalued amount. This is unlike most property companies which carried them at cost. Therefore though the RNAV might be low, they have to take in revalued gains or losses in their P/L account every year on these assets.

Agreed, but do note their portfolio is almost 90% freehold. If we include their conservative accting and fully valued ppe, their current price to book is still at 0.5X quite a hefty disc. They have 9.5mil in net cash and gives 6 cents consistently yoy(more than 4% at current price). Will be interesting to see their next quarter result. Their rivertree rev recognition will be reflected then. See how it goes.

Find Reply
22-05-2017, 03:34 PM.
Post: #84
RE: Far East Orchard Limited aka Orchard Parade Holding
(22-05-2017, 01:15 PM)Scg8866t Wrote:
(22-05-2017, 01:07 PM)ghchua Wrote: Far East Orchard, though adopting a very conservative accounting, valued their PPE (i.e. freehold land and buildings) at revalued amount. This is unlike most property companies which carried them at cost. Therefore though the RNAV might be low, they have to take in revalued gains or losses in their P/L account every year on these assets.

Agreed, but do note their portfolio is almost 90% freehold. If we include their conservative accting and fully valued ppe, their current price to book is still at 0.5X quite a hefty disc. They have 9.5mil in net cash and gives 6 cents consistently yoy(more than 4% at current price). Will be interesting to see their next quarter result. Their rivertree rev recognition will be reflected then. See how it goes.

you can find 0.2-0.3X revalued BV everywhere in HKSE...
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster

Find Reply
22-05-2017, 04:06 PM. (This post was last modified: 22-05-2017, 04:32 PM by Scg8866t.)
Post: #85
RE: Far East Orchard Limited aka Orchard Parade Holding
(22-05-2017, 03:34 PM)opmi Wrote:
(22-05-2017, 01:15 PM)Scg8866t Wrote:
(22-05-2017, 01:07 PM)ghchua Wrote: Far East Orchard, though adopting a very conservative accounting, valued their PPE (i.e. freehold land and buildings) at revalued amount. This is unlike most property companies which carried them at cost. Therefore though the RNAV might be low, they have to take in revalued gains or losses in their P/L account every year on these assets.

Agreed, but do note their portfolio is almost 90% freehold. If we include their conservative accting and fully valued ppe, their current price to book is still at 0.5X quite a hefty disc. They have 9.5mil in net cash and gives 6 cents consistently yoy(more than 4% at current price). Will be interesting to see their next quarter result. Their rivertree rev recognition will be reflected then. See how it goes.

you can find 0.2-0.3X revalued BV everywhere in HKSE...

Try finding one in sg or hk that is trading at conservatively 0.4x books, gives 4% consistently and has a net cash balance sheet.

Most deeply discounted developers in hk are either not well known, heavily geared or have a very low payout. My view only.

Find Reply
06-08-2017, 04:22 PM.
Post: #86
RE: Far East Orchard Limited aka Orchard Parade Holding
Its weird that feo's sold out rivertree project that was TOPed on march this year was not recognised in their latest 2Q result.

Find Reply
28-05-2018, 06:43 PM.
Post: #87
RE: Far East Orchard Limited aka Orchard Parade Holding
Far East Orchard in JV for $100.5 million Japan hotel project

By: Stanislaus Jude Chan
28/05/18, 06:06 pm

SINGAPORE (May 28): Far East Orchard’s 70%-held subsidiary Far East Hospitality Holdings (FEHH) has entered into a 50-50 joint venture with Boo Han Holdings (BHH), a member of Far East Organization, to jointly undertake a hotel project in Japan for 8.20 billion yen ($100.5 million).

Under the agreement, FEHH and BHH will enter into a conditional purchase and sale agreement to jointly purchase the land and hotel to be built on the land from Shimizu Corporation.

The hotel project is located on an approximately 2,542 sq m plot of land located in Ariake, Tokyo.

More details in https://www.theedgesingapore.com/far-eas...el-project
Specuvestor: Asset - Business - Structure.

http://www.valuebuddies.com
Website Find Reply
16-03-2019, 11:30 AM.
Post: #88
RE: Far East Orchard Limited aka Orchard Parade Holding
Far East Orchard Extends UK Student Accommodation Presence with the Acquisition of a Portfolio of Three Properties Located in Bristol and Liverpook, United Kingdom

Highlights :
* Acquired a portfolio of 3 freehold student accommodation properties in Bristol and Liverpool with a total of 622 beds for £55.0 million (approximately S$98.7 million)
* Acquisition brings Far East Orchard’s student housing portfolio to approximately 2,100 beds across eight properties in the United Kingdom
* Part of Far East Orchard’s strategy to enhance recurring income streams to complement earnings from property development projects

More details in :
1. https://links.sgx.com/FileOpen/FarEastOr...eID=547590
2. https://links.sgx.com/FileOpen/FarEastOr...eID=547591
Specuvestor: Asset - Business - Structure.

http://www.valuebuddies.com
Website Find Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)
Valuebuddies.com | Return to Top | Lite (Archive) Mode | RSS Syndication | CONTACT US: nas......@valuebuddies.com | | Share Buy-Back | Disclosure of Interest