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Metro Holdings
12-11-2010, 11:46 AM,
Post: #1
Metro Holdings
I'm pleasantly surprised that Metro has just declared a special dividend of 2c/share. With a cash hoard of $434.5 million and debt of $209.4 million, Metro is in a healthy net cash position of around $141 million. Based on the most recent nav of $1.58/share and the quality of the properties it owns in China, i do believe that this company is as yet very much undervalued by the market.

Any views on this company?

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12-11-2010, 11:51 AM,
Post: #2
RE: Metro Holdings
None at the moment, as I have very scanty info on the Company. Tongue

But thanks for highlighting this company; I will look into it in finer detail, and post my thoughts here if any. Smile
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12-11-2010, 04:32 PM,
Post: #3
RE: Metro Holdings
(12-11-2010, 11:46 AM)valuehunter Wrote: I'm pleasantly surprised that Metro has just declared a special dividend of 2c/share. With a cash hoard of $434.5 million and debt of $209.4 million, Metro is in a healthy net cash position of around $141 million. Based on the most recent nav of $1.58/share and the quality of the properties it owns in China, i do believe that this company is as yet very much undervalued by the market.

Any views on this company?

Metro has good financials, strong fundamentals but suffers from perception problem because of the high remuneration to one top guy.


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12-11-2010, 05:15 PM,
Post: #4
RE: Metro Holdings
The ROE is too low for my liking.
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13-11-2010, 12:05 AM,
Post: #5
RE: Metro Holdings
Don't see the issue with high remuneration as long as the performance is there.

It's quite interesting, my gf's mom loves to shop at Metro, and in reality it's more of an investment company than a retail group. Had this counter for awhile for their exposure in China and Japan, but subsequently ditched it because of their stingy dividend policy. Why are they holding so much cash for?

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13-11-2010, 12:56 AM,
Post: #6
RE: Metro Holdings
Used to hold this..

But at high of 80 cts in year 2008... when i first started buying shares..

They issued rights and I do not know what is it...

Ended up my Rights became scrap paper..

Finally managed to divest early this year at 0.80 cts..

At least the dividends they gave over the past 2 yrs helps to comfort me during those agonizing years...


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13-11-2010, 10:10 AM,
Post: #7
RE: Metro Holdings
(13-11-2010, 12:56 AM)Zelphon Wrote: Used to hold this..

But at high of 80 cts in year 2008... when i first started buying shares..

They issued rights and I do not know what is it...

Ended up my Rights became scrap paper..

Finally managed to divest early this year at 0.80 cts..

At least the dividends they gave over the past 2 yrs helps to comfort me during those agonizing years...

Metro never issue right but warrant. FYI the warrant is still being traded on SGX , so why u said became scrap paper ?


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13-11-2010, 10:22 AM,
Post: #8
RE: Metro Holdings
(13-11-2010, 10:10 AM)Stocker Wrote:
(13-11-2010, 12:56 AM)Zelphon Wrote: Used to hold this..

But at high of 80 cts in year 2008... when i first started buying shares..

They issued rights and I do not know what is it...

Ended up my Rights became scrap paper..

Finally managed to divest early this year at 0.80 cts..

At least the dividends they gave over the past 2 yrs helps to comfort me during those agonizing years...

Metro never issue right but warrant. FYI the warrant is still being traded on SGX , so why u said became scrap paper ?

Well, at that time, I was ignorant of what is RIghts or Warrants..
So my allocated warrants or rights expired...
Big GrinBig GrinBig GrinBig GrinBig GrinBig GrinBig GrinBig Grin





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13-11-2010, 05:53 PM,
Post: #9
RE: Metro Holdings
Metro Dividend history

2005: $0.02
2006: $0.05
2007: $0.05
2008: $0.05 + 1 for 10 warrant
2009: $0.02
2010: $0.03
1H 2011: $0.02

At the moment, the company has 641 million shares and 50 million outstanding warrants. Assuming full conversion, Metro needs to generate at least $34.5 million cash to fund a $0.05 payout.
Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.

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13-11-2010, 07:11 PM,
Post: #10
RE: Metro Holdings
was reading the presentation slide .. saw walmart was one of the tenant at metro city.

occupancy rate in guangzhou seems to be very good...saw similar trend in uni-asia's guangzhou property in tianhe area

and the locally listed bookstore popular is also one of the tenants

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