Shares & Derivatives
OUE Limited: An asset play that could be cheaper?
By A Singaporean Stockmarket Investor (ASSI)  •  September 25, 2014
I have been eyeing OUE Limited since May this year but I haven't bought its stock. What attracted me is the big discount to NAV (NAV/share is $4.04) although its earnings per share is nothing to shout about. In fact, I estimated the PE ratio to be about 30x when I was crunching some numbers. So, if the NAV is realistic, to me, OUE Limited is an asset play and with asset plays, the question is really whether the value will be unlocked at some point in the future. There is a likelihood that this would happen as OUE Limited hold stakes in OUE H-Trust (43%) and OUE C-REIT (42.5%).
Regular readers know I scribble my research on scrap paper.
A bug bear for OUE Limited now is Twin Peaks. This 99 year leasehold project (from 2010) is a luxury condominium they are developing near Orchard Boulevard in Singapore. They are ......
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By A Singaporean Stockmarket Investor (ASSI)
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