With a flurry of results released, just took a few glance and give my thoughts.
1) Hotel Grand Central
-Have to say that the revenue(increase of 1%) and profit (decrease of 31%) is quite bad. With only Singapore recording an increase of around 20-30% in revenue while the rest of the countries such as Australia and New Zealand recording lower revenues.
-Even accounting for its disposal of its investment property which resulted in lower revenue, the net profit still came in lower as the staff cost increased much more
-The only positive thing to talk about is that fixed deposit has increased a lot as the disposal proceeds have been transferred into it.
-Considering even Hotel Royal was able to double its room revenue from 5m to 10.5m, Hotel Grand is literally a joke.
Unfortunately, it will likely be moved out of the portfolio
2) Luminor Financial Holdings (Hodlings)...