Hiap Hoe

sumer
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11 years 3 months ago - 11 years 3 months ago #13193 by sumer

Replied by sumer on topic HH, SB, CES... KSH

I have written much about CES, Hiap Hoe, Superbowl. Here are a few points on KSH, which I also like:
1. KSH has essentially the same developable land as TEE's property arm, which is slated for an IPO. So if TEE revalues its land bank prior to IPO to command a higher NAV and hence IPO price (as well as guide investors on future earnings from its projects), perhaps investors may realise KSH is a better buy than the IPO counter, since KSH's stakes in the same pieces of land should also command higher value. The land that KSH and TEE are co-investing in are all bought at quite low prices, and would be quite profitable if demand does not weaken too much post Jan 2013 measures.
2. Fortunately, KSH is also very exposed to commercial (retail) space among the plots of land that it co-owns with TEE. These include HL Garden, Seletar Garden and King Albert Park - all of which have retail shop component. Â Sam Leong Mansion, which is their 4th piece of land, is 100% commercial, I believe. Watch out for the launch of HL Garden soon; if the retail space sells well at good prices, investors may relook at the developers involved.
3. The 2 residential projects launched are Cityscape (about 67% sold) and Sky Green (91% sold). Cityscape, in particular, is highly profitable because of the low land cost, and should contribute much of 2013 profit because construction is at a late stage.
4. My take of KSH's RNAV is $1-$1.10. OCBC has a buy call on the stock, with an estimated RNAV of $1.00.
5. The launches of the 4 projects with commercial component will be the stock price catalysts.
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Last edit: 11 years 3 months ago by sumer.

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Dongdaemun
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11 years 3 months ago #13232 by Dongdaemun

Replied by Dongdaemun on topic Re:Hiap Hoe : 71 cents and more coming

Me see that this Hiap Hoe thread has nearly 55,000 page views. Many forumers have not only read the postings here but also invested in Hiap Hoe?

I hope a lot of NextInsight readers have made good $ on Hiap Hoe, as the stock now has hit 71 cents.

Still grossly undervalued. And my kakis & I are still holding -- all the way from 50-55 cent range last year.

Incidentally, me don't see Cheongwee posting on HH, so he cannot be among the gainers.

If he did invest, he would have sold too early as he is a self-professed trader (chasing small % gains) and not a value investor. Sorry, brother. you missed a good stock

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mangoyu
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11 years 3 months ago #13237 by mangoyu

Replied by mangoyu on topic Re:Hiap Hoe

Hello all,
I recently stumbled upon this forum discussing about 2nd liner prop stocks and am just curious about this: does it mean that if the share price is much lower than that of its RNAV, then it is worth buying? What is the expected highest price that Hiap Hoe would hit in future? I am considering buying in the Hiap Hoe stock but it is currently at 0.705 so i am hesitant if its price would continue rising. Anyone care to share their views? (:

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Big Fish
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11 years 3 months ago #13291 by Big Fish

Replied by Big Fish on topic Re:Hiap Hoe

Mango: Generally, property developer stocks are assessed with reference to their RNAV, which is the current value of their investment properties and development properties.

We would apply a discount to the RNAV to determine a safe level of entry, or a level at which to exit.

Hiap Hoe has a RNAV of about $1.60, according to a conservative estimate by Sumer. I defer to him. At 70 cents, Hiap Hoe does look safe enough for entry. Good luck. Â

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Rich
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11 years 3 months ago #13311 by Rich

Replied by Rich on topic Re:Hiap Hoe

Currently, 72.5....73.5 cents on volume exceeding 1 m shares.

Still undervalued vis-a-vis RNAV of S$1.20-$1.30.

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Rich
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11 years 2 months ago #13503 by Rich

Replied by Rich on topic Re:Hiap Hoe

Why no big bang opening for the 2 hotels in Balestier? if got, then stock won't be at 63.5 cents.

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