GL, formerly known as Guocoleisure, looks interesting after the recent share price decline and the aggressive *6.4m share purchase between $0.830 – 0.858 done by Mr Quek Leng Chan in Jan 2016. It has traded within a range of $0.830 – 0.940 for the past 4 months. Based on Bloomberg, the average analyst target and estimated div yield are $1.260 and 2.7% respectively. Some noteworthy points

1. FY16F likely to be stronger than FY15

FY16F is likely to be stronger vis-à-vis FY15 because a) Refurbished hotels such as Amba Hotel Charing Cross (239 rooms) and the Every Hotel Piccadilly (82 rooms) progressively launched in FY15 are expected to contribute fully in FY16; b) Amba Hotel Marble Arch (692 rooms) slated to launch in Nov 2015 would likely contribute positively in FY16F and (likely) more in FY17F; c) 50K room nights were taken ......