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Any interest in this counter? I noticed that the prices are rather weak. Margins are pretty poor too.
And, the revenues are stunningly low. Perhaps, its a representative of weak economic outlook, both locally and regionally.
With share consol on the way, would liquidity disappear completely, if any existed in the first place?
The thing I am scared most is not nightmares or market crashes..... Its my greed that I fear the most.
When people ask what is my target price, I never have any good answer for it because Philip Fisher said before (in Common Stock Uncommon Profit) that the best time to sell is never. Equity investment is buying into ownership, not betting slips.
The path to greatness and wealth is necessarily dangerous.... because greed is a fearsome fore that threatens your success at every step.
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http://infopub.sgx.com/FileOpen/LAFE_Pro...eID=356937
Looks like the Emerald Hill property is sold to wife with vendor financing up to 5 years.
It is a good deal. For wife. Not minority shareholders.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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Corporate governance issue. Many interested party transactions.
I wont touch it.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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(01-04-2016, 08:57 AM)TUBInvesting Wrote: Got into this company recently. Seem like it will be filled with cash in a few years time. Just wondering what are their plans moving forward...
http://tubinvesting.blogspot.sg/
A value trap for many many years........... besides the governance issue mentioned by opmi earlier.
Was lucky to get out with a tiny profit many years ago.
Regardless of their plans, gd luck to you if you think they will share any cash with the minority shareholders.
There are no good stocks. Stocks are only good when they go up after you bought them.
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I have to concur about it being a value trap.
My take on this. There are various good reasons not to touch this stock:
1. Property market still down in Singapore and it is hard to tell when will it rebound.
2. Lack of visibility in terms of future earnings. (any idea what their order book size is?)
3. I am doubtful over the commitment of the management to try to jump start their real estate biz in Singapore. Not much news (correct me if i'm wrong).
The following read up doesn't help with the pessimism surrounding Lafe.
http://www.straitstimes.com/business/com...hill-units
There are honestly better developers out there and delivering shareholder value, even in tough times. A familiar name is Ho Bee. While many were still launching new developments, Ho Bee built up recurring income. If one is looking to buy Lafe, he or she should have a look at other property counters which easily offer much better value. Just my 2 cents worth.
PS: I'm not holding Lafe. Nor am I holding Ho Bee. Views are those of my own and do not represent any brokerage or bank's opinions.
The thing I am scared most is not nightmares or market crashes..... Its my greed that I fear the most.
When people ask what is my target price, I never have any good answer for it because Philip Fisher said before (in Common Stock Uncommon Profit) that the best time to sell is never. Equity investment is buying into ownership, not betting slips.
The path to greatness and wealth is necessarily dangerous.... because greed is a fearsome fore that threatens your success at every step.
Posts: 212
Threads: 4
Joined: Sep 2014
Reputation:
8
(01-04-2016, 08:57 AM)TUBInvesting Wrote: Got into this company recently. Seem like it will be filled with cash in a few years time. Just wondering what are their plans moving forward...
http://tubinvesting.blogspot.sg/
Pardon me. Just speaking my mind.
1. If you are "wondering what are their plans moving forward", then you shouldn't be investing in this stock. There is a clear issue with visibility in terms of earnings. A google search on their order book revealed.... nothing. Order book is a good reflection of potential future earnings and it is one of the more reliable measures of near term plans.
2. When you mentioned "seem like it will be filled with cash in a few years time", there are many other companies with solid cash holding today. I'm quite puzzled regarding the basis of your statement. It will surely help fellow board members, if you share your insights about how Lafe would build up this cash balance.
3. Have you attended the shareholder meeting? Perhaps, you should attend before coming to your conclusion. The quality of management matters a lot more than our own personal biased views and should also readily confirm to you their plans moving forward. Just my suggestion.
Sharing some of my thoughts.
The thing I am scared most is not nightmares or market crashes..... Its my greed that I fear the most.
When people ask what is my target price, I never have any good answer for it because Philip Fisher said before (in Common Stock Uncommon Profit) that the best time to sell is never. Equity investment is buying into ownership, not betting slips.
The path to greatness and wealth is necessarily dangerous.... because greed is a fearsome fore that threatens your success at every step.
Posts: 2,743
Threads: 23
Joined: Mar 2013
Reputation:
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"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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