Hiap Hoe

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24 Dec 2014 22:00 #21462 by Ogre
Replied by Ogre on topic Hiap Hoe
Two of Superbowl's investment properties were sold in Nov/Dec.
- Parkland Shopping Mall #04-26/27 for $4,600,000 on 3 Dec 14.
- Balestier Point #02-04 for $6,800,000 on 28 Nov 14.

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25 Dec 2014 00:07 #21463 by ateo
Replied by ateo on topic Hiap Hoe
Wah... Later HiapHoe will make announcement again that NextInsight forum views are not theirs. Haha

Anyway, thank you for the info, we have some headway regarding the sale of Superbowl properties...

Are these prop in the portfolio of assets to be sold Months ago?

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25 Dec 2014 01:46 #21464 by Ogre
Replied by Ogre on topic Hiap Hoe
I am tracking all the units through the Squarefoot research app. Caveats had been lodged. You can check it.

The list of Superbowl's investment properties can be found in Superbowl's 2012 annual report ( infopub.sgx.com/FileOpen/SuperBowl_AR201...spectus&FileID=14949 ) Pg 59.

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25 Dec 2014 02:15 #21465 by ateo
Replied by ateo on topic Hiap Hoe
Yes, ogre! Made a cross-check, it is true.

So, we should expect the rest of the potfolio put up for sale to find their resp buyers soon?

U have been following HH.?

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25 Dec 2014 02:37 #21466 by Ogre
Replied by Ogre on topic Hiap Hoe
Yes i have been a big fan of both Superbowl and Hiap Hoe for a few years now.

I believe the rest of the properties will be disposed off soon or have already been disposed off already (lodging of caveats are not mandatory). The remaining units are huge:
- Parklane B1 units (to be sold together) has a combined floor area of 25317 sqft should fetch around $38mil (@$1500psf est).
- Orchard Tower #B1-01/40 has a floor area of 7868 sqft and should fetch around $27.5mil (@$3500psf est).
- Orchard Plaza #09-01/02 has a floor area of 15328 sqft and should fetch around $23mil (@$1500psf est).

Don't think anything will be announced anytime soon since it is not compulsory to report the disposal of investment properties. All we can do now is to wait for the good news in their Q4 report.

Merry Christmas.
The following user(s) said Thank You: slpingboy

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30 Dec 2014 18:12 #21483 by sumer
Replied by sumer on topic Hiap Hoe
Thanks for the alert on the sale of Hiap Hoe's shop units. Actually, they also sold one of the Bukit Timah Plaza shop unit at quite a good price - $9.68m for the 458 sq m shop.

I am hoping they can achieve higher sale price for Orchard Towers, upwards of $4,000psf, which would mean a cash inflow of $31.5m.

I hope the sale proceeds from the sale of Superbowl's shops and Treasure at Balmoral will translate to higher dividends though, because without that, shareholders have no choice but to sell when the stock price goes up to reap some kind of return (since dividend income is low).

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