Low Keng Huat (Singapore)

[Jacmar]

Hi guys, I have some queries regarding the latest financial statement http://infopub.sgx.com/FileOpen/20170615...eID=457867

1st quarter ending april 2017
On pg6, I noticed there was an unsecured debt of $45m compared to none in the previous quarter
On pg7, from a cash generated of 126mm 2016 q1, it has become a loss of 165mm in 2017 q1

are these valid concerns?

vested 4000 shares

The $45m is just for working capital.They loan some money to purchase the perumal site. see b/s under current liabilities refer to note 12.
As for the $165m "loss" it actually came about from their purchase of the perumal land bid. this "loss" is after capital changes. Again no concern here as you can see that the recent land bidding prices has gone a bit frothy. So this project is already in the money and should be profitable.

[beefjerky]

thanks for your reply. appreciate it!

[cyclone]

Acquisiton of 67 Cairnhill Road Singapore

Low Keng Huat (Singapore) Limited announced that one of its subsidiaries, Glopeak Development Pte. Ltd. has entered into a Sale & Purchase Agreement on 7 June 2018 with the registered proprietor of 67 Cairnhill Road, Singapore and Lots 836C and 844T both of Town Subdivision 27 for the sale and acquisition of the Property at the purchase consideration of S$100,000,000.

Brief details of the Development are as follows:
(a) Tenure : Freehold
(b) Land Area : Approximately 19,800 square feet
© Plot ratio : 2.8
(d) Location : 67 Cairnhill Road Singapore situated on Land Lot No. 838W Town Subdivision 27 together with Land Lots 836C and 844T both of Town Subdivision 27

More details in http://infopub.sgx.com/FileOpen/20180607...eID=509215

[cyclone]

Demise of Non-Executive Chairman

Tan Sri Dato’ Low Keng Huat, co-founder and Non-Executive Chairman of LKHS, passed away peacefully on 20 February 2019.

My deepest condolences.

[computerpunk]

My deepest condolences.

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[chialc88]

RIP.

I benefited from LKH greatly long long time ago when it was a hot stocks.

[cyclone]

Appointment of Executive Chairman of Board of Directors

The Board has appointed Mr Low Keng Boon @ Lau Boon Sen as its Executive Chairman. He will ensure that the Board is effective in its task of setting and implementing the Company’s direction and strategy. He will also provide mentorship and guidance to the Board and Management and ensures effective communication with shareholders.

[cyclone]

Retirement of Independent Directors

Mr Lee Han Yang and Mr Lucas Liew Kim Voon have indicated their intention to retire by rotation and will not stand for re-election at the coming Annual General Meeting to be held on 29 May 2019.

[Jacmar]

Amazing, the mkt totally missed the announcement by LKH for their disposal of 10% out of 20%of the AXA tower. Instead SPH has only 5.25% and they got reported. LKH made an investment gain of $53.9million(equivalent to 7.3/share) and yet the mkt price hardly moved. They still have another 10% stake in there and the unrealised gain would be another 7.3/share.

Given past behaviours, LKH would award div generously from their investment gains and I am expecting a special div of 3-4cents for this FY21(their FY ends in Jan21). However 2020 being an unusual yr, I am not sure what they would do. I will be writing to Mr Low towards the end of the year to request for it. The only reason I am vested in LKH is they are OPMI friendly unlike some other property developer that is severely under valued and end up as a value trap eg Sing Hldgs, HKLand etc

[vingaard]

That's right. There was a lot of mention about SPH's small stake but nothing at all on LKH. That's actually good for us investors who are aware.

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