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HH only HALTed - two Hrs later... so likely a non-event... maybe just Halt to protect dummies from jumping in to buy HH ?
HH will incur lots of CAPEX over in Aust... so unlikely for to get privatise now...
possible CAs to require "Both being Halted": Merger of HH+SB / enbloc Sale of Treasure / sell DAYS Hotel / joint enbloc acqn of Parklane Mall
or Someone buying over substantial stakes in HHH Hldgs (from Oldman+other dissenting minorities - if any)
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01-10-2013, 05:09 PM
(This post was last modified: 01-10-2013, 05:09 PM by opmi.)
HH privatising Superbowl at 20% above current price also better risk/reward than doing OZ prop devt.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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yes, argument for Superbowl to be privatised look compelling...
unlike Hiap Hoe, Superbowl have NO need for Capex ahead,
infact Superbowl should be receiving some "repayment of shrhldrs loans" from its completed JV-projects (Beverly+Treasure) and maybe even from ZSP Hotel JVs.
Cost to privatise will be only a fraction of the huge surplus residing within Superbowl now.
LESS those shares oledi held by HH Hldgs+TEOs, there are less than 95m O/S Superbowl shrs left out there.
assuming they offer up to $0.80~$1.00 pershr, it will cost only $76m~$95m to privatise Superbowl
based on May2013's valuation of ZSP Hotels at $702m: Superbowl's 50% share of surplus from ZSP hotels alone = $201m - $216m range.
Superbowl still had other invmnt ppties(retail space) located across 5 shopping Malls - all are stated at historical costs.
eg. its freehold retail space at Orchard Tower (1 Clyamore Dr), carrying cost below $2m, but mkt value around $24m (eg. if values @$3000 psf)
SB held around : 7900 sqft leasable space at Orchard Twr / Orchard Plaza ~15300 sqft / Parklane Mall ~ 29000 sqft / Balestier Point ~ 5600 sqft / Bk Timah Plaza ~ 6100 sqft
Ofcoz privatisation may or MAY NOT happen for a longlong time...that's the risks for believers.
I'm vested.
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SuperBowl ($0.65) - The nice 9cts up for superbowl today n non event for hiap hoe may tell us something that may be nlbrewing soon. Keeps yr fingers crossed..!
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Specuvestor: Asset - Business - Structure.
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03-10-2013, 09:23 PM
(This post was last modified: 03-10-2013, 09:23 PM by CY09.)
What does it mean by corporate restructuring opportunities?
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Halt fir the 3rd day but still no news?? Could be something big???
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Maybe HH will offer to take Superbowl private?
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maybe HH & SB can merge.
Better if SB sells hotels stakes to HH at a fair price (hopefully), then pay out the cash (hopefully).
Whatever it is, it will be an IPT so HH (Pte Ltd) cannot vote.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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