Hiap Hoe

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22 Mar 2017 14:03 #23679 by Ogre
Ogre replied the topic: Hiap Hoe
Four Points by Sheraton to open on 28 Mar 17. www.starwoodhotels.com/fourpoints/proper...=4146&language=en_US

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29 Apr 2017 10:59 #23803 by Ogre
Ogre replied the topic: Hiap Hoe
Updates from Hiap Hoe's AGM on 28 Apr 17.

1) The general sentiment from the shareholders was that the dividend of $0.01 was too low. The Chairman noted this and mentioned that he would try to do something next period.

2) In response to shareholder query, the Chairman updated that the interested party transaction of Waterscape was done at the market valuation of between $1300 - $1400 psf.

3) In response to shareholder query, the Chairman mentioned that he is open to selling the Four Points hotel in Melbourne as well as the other investment properties in Singapore if the right opportunity arises. He added that he is not ruling out the option of forming a REIT with JV partners.

4) The Chairman also shared that there were no plans for further constructions plans in the next few years, citing increasing costs and lack of good opportunities.

In my opinion, Hiap Hoe still remains a possibility for privatisation in the next few years. The strategy of the Chairman appears to be slowing expansion of the group and reducing its long-term debt.

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