Hafary

Off he went to be Deputy CEO for oxley... Personal interest pursued...

divads27 wrote: Reminds me of See Hup Seng Thomas Lim (Old) vs Jimmy (Young)?

Maybe son wants to focus on Oxley but father wants to concentrate on tiles??

Then another majority shareholder , Oxley's CEO Ching having 28+% shares comes into picture..

hmm.. interesting..

or maybe son sees the business on track, after upgrading to mainboard, everything settled and smooth sailing already, can do what he wants to do?

Interesting development. Privatisation ??? Dun forget their 4 properties are worth quite a lot especially the Eunos Ave 3 HQ, take it private and dispose of the properties?

Eric Low becomes Deputy Chief Executive Officer of Oxley, really wants to focus on Oxley. Think leave Hafary to his father. I think Hafary no more "sexy" liow as Oxley is earning much more $$$ than Hafary.

Switch to Oxley

Del wrote: Divads, it's most odd that Eric has stepped down from CEO post. Does he have another big job to go on to? Oxley ?
I would not be surprised given his close ties with Ching and his shareholding in Oxley. And the fact that Oxley has grown very big in a short space of time. It surely can do with an additional top guy. But is Eric qualified to run a property developer?

-- eh, my guess made on Xmas Eve was right on the mark!

Eric leaving Hafary to his dad. Think all resources will be used for Oxley. Hafary will be left in the cold. And the recent results which showed Hafary making lesser profit than last year signifies the turning point already. Volume will slowly grinding to a halt. I no longer holding hafary as I fear been stuck. All the best to Hafary shareholders, cheers.

I would say Hafary is good for the yield. It's also got fundamentals, ie the HDB building boom will progressively require a lot of tiles from Hafary. These requirements are typically realised as the new flats are completed, so got lots of demand to meet by Hafary.

Del wrote: I would say Hafary is good for the yield. It's also got fundamentals, ie the HDB building boom will progressively require a lot of tiles from Hafary. These requirements are typically realised as the new flats are completed, so got lots of demand to meet by Hafary.

At first I also thought so, that's why I was a shareholder, attended the AGM, everything looks so rosy at least for the next 2 years. But the latest financial results show a significant drop in profit(even for core business, excluding one time gain) and a somewhat less optimistic comment on the prospect.
Just within one financial half, all the optimistic view and prediction of better profit gone. And with Eric Low departure, this will become a illiquid stagnant counter. Although it may still do so so for the next 1 year, after that, I think is quite bleak. The sexy one would be Oxley, even Eric Low abandon Hafary for Oxley, leaving his dad to handle Hafary. So u can see Oxley definitely is the "sexier" one.