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ACQUISITION OF 66 STRATA-TITLED OFFICE UNITS IN THE PROPERTY KNOWN AS BURLINGTON SQUARE LOCATED AT 175A BENCOOLEN STREET, SINGAPORE
http://info.sgx.com/webcoranncatth.nsf/V...800441A5D/$file/A_BSQacquisitionF_080512.pdf?openelement
The Board of Directors of Guthrie GTS Limited (the “Company”) wishes to announce that its
joint venture company, Guthrie-SV Pte. Ltd. (“GSV”), has incorporated eight wholly-owned
subsidiaries, Guthrie-SV BSQ5 Pte. Ltd. (“BSQ5”), Guthrie-SV BSQ6 Pte. Ltd. (“BSQ6”),
Guthrie-SV BSQ7 Pte. Ltd. (“BSQ7”), Guthrie-SV BSQ8 Pte. Ltd. (“BSQ8”), Guthrie-SV
BSQ9 Pte. Ltd. (“BSQ9”), Guthrie-SV BSQ10 Pte. Ltd. (“BSQ10”), Guthrie-SV BSQ11 Pte.
Ltd. (“BSQ11”) and Guthrie-SV BSQ12 Pte. Ltd. (“BSQ12” and together with BSQ5, BSQ6,
BSQ7, BSQ8, BSQ9, BSQ10 and BSQ11, the “BSQ Subsidiaries”), to acquire a total of 66
strata-titled office units (the “Units”) in the property known as Burlington Square located at
175A Bencoolen Street, Singapore (the “Property”) for an aggregate purchase price of
$89.3 million (the “Transaction”).
"Each of the BSQ Subsidiaries entered into a sale and purchase agreement (the “SPA”) with
Burlington Square Properties Pte Ltd and Burlington Square Investment Pte Ltd (collectively,
the “Vendors”) to acquire the Units. A deposit equivalent to 10% of the Purchase Price was
paid upon execution of the SPA. The balance of 90% of the Purchase Price will be payable
on completion which shall take place on 31 July 2012. "
Burlington Square Properties Pte Ltd and Burlington Square Investment Pte Ltd is 50% owned by Wing Tai Holdings. Hence, it will recognize some profit from the above divestment to Guthrie.
Wing Tai Holdings has an unofficial dividend policy of 30% as confirmed by the chairman during last year AGM. I'm expecting the dividend of FY12 to be $0.05. So far it is still on track, as 3Q EPS is $0.132.
http://info.sgx.com/webcoranncatth.nsf/V...800441A5D/$file/A_BSQacquisitionF_080512.pdf?openelement
The Board of Directors of Guthrie GTS Limited (the “Company”) wishes to announce that its
joint venture company, Guthrie-SV Pte. Ltd. (“GSV”), has incorporated eight wholly-owned
subsidiaries, Guthrie-SV BSQ5 Pte. Ltd. (“BSQ5”), Guthrie-SV BSQ6 Pte. Ltd. (“BSQ6”),
Guthrie-SV BSQ7 Pte. Ltd. (“BSQ7”), Guthrie-SV BSQ8 Pte. Ltd. (“BSQ8”), Guthrie-SV
BSQ9 Pte. Ltd. (“BSQ9”), Guthrie-SV BSQ10 Pte. Ltd. (“BSQ10”), Guthrie-SV BSQ11 Pte.
Ltd. (“BSQ11”) and Guthrie-SV BSQ12 Pte. Ltd. (“BSQ12” and together with BSQ5, BSQ6,
BSQ7, BSQ8, BSQ9, BSQ10 and BSQ11, the “BSQ Subsidiaries”), to acquire a total of 66
strata-titled office units (the “Units”) in the property known as Burlington Square located at
175A Bencoolen Street, Singapore (the “Property”) for an aggregate purchase price of
$89.3 million (the “Transaction”).
"Each of the BSQ Subsidiaries entered into a sale and purchase agreement (the “SPA”) with
Burlington Square Properties Pte Ltd and Burlington Square Investment Pte Ltd (collectively,
the “Vendors”) to acquire the Units. A deposit equivalent to 10% of the Purchase Price was
paid upon execution of the SPA. The balance of 90% of the Purchase Price will be payable
on completion which shall take place on 31 July 2012. "
Burlington Square Properties Pte Ltd and Burlington Square Investment Pte Ltd is 50% owned by Wing Tai Holdings. Hence, it will recognize some profit from the above divestment to Guthrie.
(02-05-2012, 02:19 PM)sgpunter Wrote: I'm looking to average down my holdings in Wing Tai as well. Based on my check for the last ten years, it has always paid out a dividend despite ups and downs unlike another property counter trading at a discount to NAV, Hong Fok. Its just a matter of time before the market will realize its potential. I have listed the dividend history below.
FY02 - $0.03
FY03 - $0.01
FY04 - $0.02
FY05 - $0.03
FY06 - $0.03 + $0.03 (Special Div)
FY07 - $0.03 + $0.05
FY08 - $0.03 + $0.03
FY09 - $0.03 + $0.01
FY10 - $0.03 + $0.02
FY11 - $0.03 + $0.04
Wing Tai Holdings has an unofficial dividend policy of 30% as confirmed by the chairman during last year AGM. I'm expecting the dividend of FY12 to be $0.05. So far it is still on track, as 3Q EPS is $0.132.
