dui...Ms. Jolin Lai......last time, i made a mistake - bought this counter...from this counter - i learnt the bitter lesson of the importance of management integrity - selling Batu Kawan land at RM45 per square feet...and running a losing F&B business and promising to pay dividend but does not...- shows management does not have much integrity ... i learnt from my mistake liaw... anyway - what i have lost from this counter - i made it back from Gadang...
hey - ohhh - what is your FB / WhatsApp arrr? i got tonnes of K-Drama to share lart
Property developer Global Oriental Bhd (GOB) has lowered the disposal price of da:mén shopping complex to RM486.84 million from RM488 million due to the adjustment made in the number of car park bays.
GOB also said the payment of first half of the fourth instalment has been revised to six months after Jan 4, 2016, which was the date the purchaser received notice of the Certificate of Practical Completion (CPC), instead of six months after the date of issue of CPC on Nov 30, 2015.
Meanwhile, the payment of second half of the fourth instalment has been revised to 24 months instead of 18 months after the date of issue of CPC.
These amendments have been made to the conditional sale and purchase agreement that GOB had on Sept 17, 2015 signed to sell the five-storey shopping mall with a lower ground floor together with 1,672 car park bays to Pavilion Real Estate Investment Trust. The sale is expected to be completed in the first quarter this year.
(source: The Edge Markets, theedgemarkets.com | March 18, 2016 : 9:50 PM MYT)
Just for sharing, the article said that GOB will have a net cash position of 55 sen per share (after paying all the bank debts) upon receipt of the sale proceeds from disposal of Da:men mall.
From the filing to Bursa, Da'men disposal has been completed. Management did not mention how much this transaction has profited or incurred losses! However, I believe GOB will make money plus positive cash flow from such sale. As commented by "valueinvestor", 55 sent per share cash position will transform GOB into new corporate animal having the financial muscle to undertake millions dollar project, such as the JV in jalan Ampang next to French embassy. Let us see how the management is going to deal with such cash position in 2 months time.
Zero cents dividend....dream long long lar...the monies will be returned to Malton via acquisition of aub standard landbanks...like the don't know where punya land at Perak Lumut.
Please read the above article written by Hong Leong Investment Bank on GOB. Very well written and insightful up to date facts. Cash per share after all disposal will be around 55 sen per share, converting into a cash rich company by 30th June 2016.
For luckyman your observation is correct. I have taken into account of losses incurred in F&B, plus further cash flow incurred to complete Da'men (USJ mall) that might happen for the latest quarter to 31st March, 2016. My figure of 55 sen is conservative and I do hope 64 sen as per tabulation of HLIB.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
riskabsorber
582 posts
Posted by riskabsorber > 2016-03-17 09:54 | Report Abuse
Anyone would able to enlighten me that, what are those franchise under GOB's F&B segment ?