CES, having recovered from the shock resignation of the CEO, is now a whisker from its all-time high price of 94.5 cents (achieved in Sept 2014). I hope a bumper dividend (exceeding the usual 4 cents/sh) will be proposed in order to sustain/reward investor interest.
Low Keng Huat rose from $0.68 to $0.74 or 8 % Gain, just because of an acquisition that will provide recurring income of only $4.2 million or 0.56 cts per share if no further value is added to the property.
Imagine the market reaction when Chip Eng Seng' s Alex Hotel TOPs in 3 month' s time. Recurring income of $14mil per annum or 2.2 cents per share will kick.
Plus there should be revaluation gain of ~30 cents in NAV because CES cost per hotel room is only around $0.4mil to $0.45mil while a typical 4-star hotel room valuation should be around $0.82mil to $0.9mil.
1. TM: Issue with neighbor
2. CUB: project approved one year ago. having issue with the shadow covering the public library.
3. 242 west coast highway: was 50% own when May2010 first purchased, then partner left, now 100% own by CEL, no project direct till now.
4. Doncaster project: said to be launch during 1H-2015.