Glassworks, Liverpool John Moore Student Accommodation in UK owned by Far East Orchard


A property developer, hotel operator, student accommodation provider or medical centre owner?

Far East Orchard (O10.SI) has the attributes of all.
It is currently trading at $1.12 on SGX at 60% discount off its book value at $2.76.
It has 459,947,000 weighted average number of shares and S$226.5m of cash and equivalents, implying a net cash of $0.49. At $1.12, it is a steal as we are getting some hotels worth $1.54 for free for every share owned! 
I initiated a small investment in FEO in 2018 when it was an undervalued property developer yielding dividends at more than 5% then. I also liked the property assets owned by them, particularly Novena Medical Centre and purpose-built student accommodations in the UK. It was also giving shareholders scrip dividend option to collect dividends in the form...