SuperBowl Holdings

[CY09]

it is under share of results of JV and associates, if I am right

[BlueKelah]

Went to dig around.. apparently share price low could be because of court case and infighting between dad and sons from his first wife regarding their brother from another mother who was not paid his salary, 2 brothers say he is not doing his job well, so dock his pay. Dad has 2 mistress with multiple kids. Court case reached settlement this week which is good.

Also is it possible for anyone check the short positions on this stock?

Despite revaluation, the RNAV of Zhongshan property not reflected in the recent quarterly report anyone has any idea? Will they have to wait till project is done before officially revising the NAV up by $1.07?

If so then now would be a good time to pick up this stock @ 50 cents to the dollar

[Vseeker]

if factor in valuation surplus for its ZSP hotels & mark-to-market the values for its investment ppties across some 5 shopping malls
its RNAV is easily in excess of $1.30 per share now.

eg. just ZSP complex alone; based on recent valuation of $702m => implied JV sitting on some $422m valuation surplus
=> that's surplus of $0.65 pershare for Superbowl => this alone already surpassing its entire mktcap by some 30% !!

above had not factor-in their other assets.
eg. some of their freehold retail shop space (along places like Orchard Road & Balestier), are carried in their book at around ave $160 psf !!! vs recent mkt transactions at over $2000~$4000 psf within those same malls (Note for shop space, not Offices)
==> coz they still stated it at cost (and some more - further markdown annually with a 2% annual depreciation !!)

When companies choose to stated assets in their books at "so huge discounts" in FVs... I think it is only professional and common decency for such companies to always include a note on such "understatement in values" whenever references are make about the "NAV per share"... such as within their Qtrly reports...
==> but ofcourse there was not a single mention at all about this huge "surplus" anywhere in the recent SB Q2 report.

Q2 v. low earnings likely results of little contributions from JV ppties project (Beverly+Treasure) and also ramp-up costs for ZSP hotels.

The greatest risk with investing in such counters is they may try to makan it at dirt cheap pricings... during some future bear market selldowns.
so whether minorities in such smallcap companies eventually get "robbed off" at dirt-cheap level or not, will depend on whether there continued to exist a sufficient level of minoirites with excess of 10% freefloat, better if got over 20% !!... to escape the Mandatory Acquisition devil !!...

been vested since my posting here years ago... so my costs are v. low

[Vseeker]

Superbowl Insiders Trades: Announced today (20-Aug2013)
Date of Change : 16-Aug-2013 : CEO Teo Ho Beng buy 100,000 shares @$0.49 each; now Direct=2.941m (0.90%) Deem=227.029m (69.74%)

NB: the previous occasion he buy was three years ago !, back in 19-Aug-2010 => when he buy 47,000 shares @$0.205 each

[CY09]

The CEO has continued buying shares with the recent 90,000 open market purchase. While the company is indeed undervalued and backed by physical assets, it makes me wonder when will its actual value be unlocked.

<vested>

[opmi]

The CEO has continued buying shares with the recent 90,000 open market purchase. While the company is indeed undervalued and backed by physical assets, it makes me wonder when will its actual value be unlocked.

<vested>

well, can unlock TOGETHER with ALL shareholders or OTHERWISE...hahaha..

[camelking]

trading halted after going up some 20 to 25% since last friday.

Interesting.....

Unlocking of value?


Vested

[crabcrab]

Closing at $0.65, nice! Hoping for some privatisation announcement...

[camelking]

if it is a delisting offer, the announcement may take days....

Probably, the announcement will be "The board of directors is not aware ... blah blah"

---

Sister company, Hiap Hoe, also halted trading.

hmmm.. Besides having the same controlling shareholders, they also co-own the development at Balestier.

Getting interesting..

[crabcrab]

Hmm... Probably Something brewing..