Eagle Hospitality Trust

[valueinvestor]

How to buy cheaply if they didn't sell to depress the share price  ?

[Stocker]

https://www.lbbusinessjournal.com/queen-...city-says/
Queen Mary Leaseholder Not Meeting Obligations, City Says
By Samantha Mehlinger, Editor- October 21, 2019

The lifeboats on the Queen Mary are in danger of structural failure. Handrails on the ship are broken in some places, and in others, missing entirely. Missing numbers on the ship’s elevator were replaced with drawn-on numerals, and splitting carpet patched with duct tape. The adjacent Queen’s Marketplace, which was supposed to have been demolished, is being used to store rubbish. The ship’s neighbor in its moat, the Scorpion Russian submarine, is heavily corroded and could sink, posing a threat to the structural integrity of the Queen Mary.


The true color is exposed within few  months after listing . Thanks to SGX !

[CY09]

The true color is exposed within few  months after listing . Thanks to SGX !

Hi Stocker,

One liner response with no value is not appreciated in this thread. Please provide more explanation such as posting the source and a brief summary of incidents such as where it shows the Queen Mary has defaulted on its lease etc.

[Stocker]

The true color is exposed within few  months after listing . Thanks to SGX !

Hi Stocker,

One liner response with no value is not appreciated in this thread. Please provide more explanation such as posting the source and a brief summary of incidents such as where it shows the Queen Mary has defaulted on its lease etc.

Sorry CY09 ,  missed the linked message earlier .

[cyclone]

Clarification on The Edge Singapore’s Article

Eagle Hospitality REIT Management Pte. Ltd., as manager (the “REIT Manager”) of Eagle Hospitality Real Estate Investment Trust (“EH-REIT”), and Eagle Hospitality Business Trust Management Pte. Ltd., as trustee-manager (the “Trustee-Manager”, collectively with the REIT Manager, the “Managers”) of Eagle Hospitality Business Trust (“EH-BT”) would like to make certain clarifications regarding The Queen Mary asset.

The REIT Manager refers to the article dated 23 October 2019 entitled “Eagle Hospitality Trust could get wings clipped as key asset The Queen Mary sinks into disrepair” by The Edge Singapore and related articles. The Edge Singapore article refers to a series of reports and a letter (the “Letter”) from the City of Long Beach (the “City”) to Urban Commons, LLC (“UC”), the sponsor of Eagle Hospitality Trust, stating that it has failed to meet obligations under The Queen Mary ground lease to make certain repairs required under the ground lease. When the REIT Manager became aware of the Letter, it immediately communicated with UC to seek clarifications on the Letter.

UC has confirmed to the REIT Manager that they are not in default on The Queen Mary ground lease and that The Queen Mary remains safe and structurally sound. UC has also informed the REIT Manager that they are preparing a response, which will be imminently released to the City addressing items referenced in the Letter. The response will include specific maintenance items that have already been completed, are underway and planned in the future for the long-term preservation of the ship.

More details in https://links.sgx.com/FileOpen/EHT-Clari...eID=582806

[Shiyi]

Clarification on The Edge Singapore’s Article

Eagle Hospitality REIT Management Pte. Ltd., as manager (the “REIT Manager”) of Eagle Hospitality Real Estate Investment Trust (“EH-REIT”), and Eagle Hospitality Business Trust Management Pte. Ltd., as trustee-manager (the “Trustee-Manager”, collectively with the REIT Manager, the “Managers”) of Eagle Hospitality Business Trust (“EH-BT”) would like to make certain clarifications regarding The Queen Mary asset.

The REIT Manager refers to the article dated 23 October 2019 entitled “Eagle Hospitality Trust could get wings clipped as key asset The Queen Mary sinks into disrepair” by The Edge Singapore and related articles. The Edge Singapore article refers to a series of reports and a letter (the “Letter”) from the City of Long Beach (the “City”) to Urban Commons, LLC (“UC”), the sponsor of Eagle Hospitality Trust, stating that it has failed to meet obligations under The Queen Mary ground lease to make certain repairs required under the ground lease. When the REIT Manager became aware of the Letter, it immediately communicated with UC to seek clarifications on the Letter.

UC has confirmed to the REIT Manager that they are not in default on The Queen Mary ground lease and that The Queen Mary remains safe and structurally sound. UC has also informed the REIT Manager that they are preparing a response, which will be imminently released to the City addressing items referenced in the Letter. The response will include specific maintenance items that have already been completed, are underway and planned in the future for the long-term preservation of the ship.

More details in https://links.sgx.com/FileOpen/EHT-Clari...eID=582806

Last month, substantial shareholder Tong Jinquan sold 10 m shares@0.65 while Shih Hau Yuan unloaded 5 m shares @0.675.
I was puzzled then as to why they wanted to sell the shares while the price headed south, and the potential dividend yield more than 10%.

[Stocker]

More selling after clarification from the Sponsor and manager , another con job , thanks to SGX .

[weijian]

More selling after clarification from the Sponsor and manager , another con job , thanks to SGX .

hi Stocker,
To be honest, I think it doesn't do one any favors if one has a tendency to find a bogeyman to blame. With this tendency, we never get to fully learn from our own mistakes since we never take ownership of them.

I read from the history of common equity markets that markets were set up with the main intention for insiders to cash out, not for outsiders to get rich. If the latter happens, it is just a side effect of the former. Rather than blaming reality, would it be better to recognize reality for what it is, and work accordingly to what it is?

I am not sure how much you are into this "blame game". But i assume it is pretty bad because you blamed SGX twice in <24hours. Of course, if i am wrong in my assumption, i do ask for your understanding.


P.S. Although i am a SGX shareholder but I don't think they are doing a great job of protecting people, nor am i interested to try to justify them. I am saying this from a POV of someone who likes to observe human behavior and want to correct my own behavorial biases to become a better investor.

[Stocker]

More selling after clarification from the Sponsor and manager , another con job , thanks to SGX .

hi Stocker,
To be honest, I think it doesn't do one any favors if one has a tendency to find a bogeyman to blame. With this tendency, we never get to fully learn from our own mistakes since we never take ownership of them.

I read from the history of common equity markets that markets were set up with the main intention for insiders to cash out, not for outsiders to get rich. If the latter happens, it is just a side effect of the former. Rather than blaming reality, would it be better to recognize reality for what it is, and work accordingly to what it is?

I am not sure how much you are into this "blame game". But i assume it is pretty bad because you blamed SGX twice in <24hours. Of course, if i am wrong in my assumption, i do ask for your understanding.


P.S. Although i am a SGX shareholder but I don't think they are doing a great job of protecting people, nor am i interested to try to justify them. I am saying this from a POV of someone who likes to observe human behavior and want to correct my own behavorial biases to become a better investor.

Hi Weijian ,

I was merely stating the fact that many companies , including EAGLE , were admitted to list on SGX without proper screening from them . From S chips to.... the lists go on...... . Isn't it the job of our regulator to screen and make sure bonafide companies should be welcome , especially for EAGLE HT which was just listed in May this year .
The Truth  hurts !

[weijian]

Hi Weijian ,

I was merely stating the fact that many companies , including EAGLE , were admitted to list on SGX without proper screening from them . From S chips to.... the lists go on...... . Isn't it the job of our regulator to screen and make sure bonafide companies should be welcome , especially for EAGLE HT which was just listed in May this year .
The Truth  hurts !

Hi Stocker,
Nothing wrong with "stating facts". I just hope the act of "stating facts" is not actually a symptom of some unconscious misconceived bias/belief....The Truth (if we do get there), indeed hurts!