Singapore Myanmar Investco Limited (formerly: Singapore Windsor Holdings)

[dydx]

So having bought over the founding shareholders Chung brothers' controlling and Mr Stone's stakes, Mr Ho Kwok Wai is now the largest and super-majority shareholder with a 88.05% stake.....
http://infopub.sgx.com/FileOpen/SGWindso...eID=256820
http://infopub.sgx.com/FileOpen/Singapor...eID=256476

Do fellow forumers have more detailed info on Ho's background and career history?

[pianist]

I guess mr stone made quite hefty losses in this counter?

[mkmk]

http://infopub.sgx.com/FileOpen/311013_S...eID=262158

Offer closes with 90.96% ownership, and Suspension of Trading

(not vested)

[cyclone]

Formerly known as Singapore Windsor Limited.

Further to the Announcement dated 25 November 2015, the Board of Directors of Singapore Myanmar Investco Limited (the "Company", and together with its subsidiaries, the "Group") wishes to announce that its wholly-owned subsidiary, SMI Retail Pte. Ltd. ("SMI Retail"), has entered into the Definitive Agreements with Royal Golden Sky Company Limited ("RGS"), covering duty free, retail and F&B outlets at the New Terminal 2 of Yangon International Airport. 
The brief details of each of the Definitive Agreements can be downloaded from this link :
http://infopub.sgx.com/FileOpen/SMI_Annc...eID=383681

[phandal]

I've been considering the Myanmar growth story of late, and this is one of the counters I'm looking at. My concerns are that this stock is terribly illiquid, and also that the P/BV is very high (5), (and according to my calculations - removing the assets pending disposal even higher but I may be wrong). However I believe that the sectors they involved in (upscale F&B, cell towers, construction etc) are lucrative in the current environment.

As I am inexperienced in turnaround companies, which I believe Y45 is a special example of, can anyone more experienced in these sort of situations please weigh in? Thanks!

[Gaudente]

P/BV of 5 ? Stay away from the skank !
Investment in Myanmar is just a fashion , like S-chips a few years ago , and it will probably end the same way.

[phandal]

Ok... just to share my experience, I emailed them asking for some of their cell tower details (e.g. Average contracted lease period from landowner, Average contracted lease period to Telco, Contractual escalation in lease from landowners, Contractual escalation in lease to Telcos, etc) which are not sensitive information, and US listed companies like American Tower readily provide.

My first email to the CEO (Mark Bedingham) quickly met with a short reply to say that the type of information is "confidential". However, I replied to say that other listed firms such as the one mentioned above provided these details, so he cc-ed Alan Lo (SVP, Corporate Development, also in charge of investor relations). More than a week later, no reply from him.

Some of my friends manage funds (even the small private ones only available to accredited investors), and they tell me that you'd be surprised that some CEOs from large Asian-listed cos personally answer some of their queries. For a small company like SMI with no liquidity to speak of to ignore a potential investor speaks poorly of their opinion of their own shareholders. GIving this a miss.

[specuvestor]

By my observation the only real Myanmar stock in Singapore is Yoma. I'm not referring to beta or dream plays

But IMHO the Myanmar story is over for now. As per my post in YZJ, an alpha stock is usually not going to perform on an absolute basis when the sector (in this case country) is not conducive.

[chialc88]

But IMHO the Myanmar story is over for now....( country) is not conducive.

bro,
can gives some tips on your -ve view?
I know the regime changes but then how does it affect a (normal and decent) coy?

P.S. I buy a bit of Myanmar shares purchased back in 2015.

Thanks in advanced.

 Love Compassion

[specuvestor]

Hi Chia

Sorry been busy

The Myanmar hype maxed out during the 2015 elections. You can recall a few Myanmar-linked stocks

By some accounts some of the property prices in Yangon was comparable to Singapore. Even the chairman of Yoma who develops property said back then it is ridiculous and would watch to see how newcomers survive.

The regime change is positive for Myanmar but it's usually the unrealistic timeline that people expect the grind to produce results. Just like big picture wise 3G was positive for mobile internet, it took another 10 years for internet-on-the-go to develop with iPhone and iPhone 3G being the catalyst. Imagine if you hold a 3G concept stock... the macro thesis is right but....

And if you believe management is important in analyzing a company, then a change in political landscape ie management of a country, can have impact on a normal and decent company.