Guocoleisure – Portfolio of undervalued assets?

Guocoleisure Limited (“GLL”) is a S$1b company in market capitalization. Mr Quek Leng Chan, #5 richest man in Malaysia (Forbes 2012) has about 66% interest in GLL. GLL’s intermediate holding company is Guoco Group Limited which is in the process of being taken private by Mr Quek Leng Chan. Description of GLL   The screen shot below describes GLL’s various business segments. (Please refer to the company website for the various business segments as I am unable to attach it here.) Investment merits Potentially undervalued assets According to GLL’s annual report 2012, GLL has 8,911 rooms with 8,280 rooms in UK with the balance in […]

Personal compilation of reits and business trusts by total potential return and estimated dividend yield

Dear readers, I have compiled the reits, using Bloomberg data as of 14 Feb and sorted them in this order 1. Total potential return 2. Estimated dividend yield Among the 29 reits / business trusts polled by Bloomberg and compiled by me, Saizen (13.4%); Fraser Comm (12.7%); Cache Log (12.6%) scored the highest in terms of total potential return. This ranking is fluid because it depends on the reits’ prices as well as analysts estimates. Do take a look. I will like to emphasise this is just one of the first steps to screen out some of the reits that […]

Dukang Distillers – still growing despite industry headwinds

It never rains but it pours. This phrase is an apt description for Dukang. Why is this so? With reference to Chart 1 below, it is apparent that Dukang is a laggard in the recent market rally. Dukang’s price had suffered a setback in November after the official Xinhua news agency cited findings by Hunan provincial authorities who corroborated earlier Chinese press reports that excessive plasticizers (i.e. toxic chemicals which can induce early female puberty and cause damage to men’s reproductive health over prolonged consumption.) were found in Jiugui Liquor products. In addition, there was continuous strong anti-corruption rhetoric from the new Chinese leaders which might reduce demand for expensive […]