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1 comment(s). Last comment by albertlaw 2014-08-28 16:36
Posted by albertlaw > 2014-08-28 16:36 | Report Abuse
Just received prospectus, EGM 12 Sept-Hotel Grand Chancellor Pte Ltd was tendered for $48.89mil in 2007 and 328 room was constructed at a cost 459.23mil and hotel was opened in 2010..valued at $201mil on Sept 2012.Hotel Grand expected profit of $67.02mil after paying off $54mil in outstanding bank loans and the net proceeds of 4192mil will be placed in interest bearing bank' s term deposits to pursue groth opportunities and fund the co' s future business plan.NTA expected to increase from $1.43 to $1.55 and sale expected to complete by 15 Jan 2015
Coupled with the 600 rooms of 2 brand new hotels in front of Istana,hope one day maybe the closely knit family may sell off at a higher valuation.Ever hit a high of $2 plus slightly
Despite the cessation of the hotel operations at Orchard,company's 1 H 2014 still increases
HOTEL GRAND CENTRAL LIMITED
Company Registration No. 196800243H
Unaudited Financial Statement for the Period Ended 30 June 2014
PART I - Information required for announcements of quarterly (Q1, Q2 & Q3), half year
and full year results
1 (a) An income statement for the Group together with a comparative statement for the
corresponding period of the immediately preceding financial year
1(a)(i) Consolidated Income Statement for the Period Ended 30 June 2014:
2014 2013 % 2014 2013 %
Note S$'000 S$'000 Change S$'000 S$'000 Change
Revenue
Hotel operations and management 33,921 33,347 2% 69,502 69,944 -1%
Rental income from investment properties 1 2,635 1,379 91% 5,199 2,755 89%
Total revenue 36,556 34,726 5% 74,701 72,699 3%
Other income 2 70 52 35% 1,142 108 957%
36,626 34,778 5% 75,843 72,807 4%
Costs and expenses
Staff costs (12,837) (11,982) 7% (24,859) (24,112) 3%
Depreciation and amortisation (4,722) (4,485) 5% (9,186) (9,336) -2%
Hotel operating expenses (13,570) (13,502) 1% (27,693) (27,135) 2%
Total costs and expenses (31,129) (29,969) 4% (61,738) (60,583) 2%
Profit from operating activities 5,497 4,809 14% 14,105 12,224 15%
Interest expense (709) (555) 28% (1,393) (1,186) 17%
Interest income 1,115 1,170 -5% 1,990 2,336 -15%
Foreign exchange gain/(loss) 3 430 (8,568) n/m 3,252 (5,993) n/m
Share of results of associates 115 336 -66% 105 449 -77%
Profit/(loss) before tax 6,448 (2,808) n/m 18,059 7,830 131%
Income tax expense (1,776) (2,154) -18% (3,521) (4,535) -22%
Net profit/(loss) attributable to owners of the parent 4,672 (4,962) n/m 14,538 3,295 341%
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Posted by albertlaw > 2014-08-28 16:25 | Report Abuse
Just received prospectus, EGM 12 Sept-Hotel Grand Chancellor Pte Ltd was tendered for $48.89mil in 2007 and 328 room was constructed at a cost 459.23mil and hotel was opened in 2010..valued at $201mil on Sept 2012.Hotel Grand expected profit of $67.02mil after paying off $54mil in outstanding bank loans and the net proceeds of 4192mil will be placed in interest bearing bank' s term deposits to pursue groth opportunities and fund the co' s future business plan.NTA expected to increase from $1.43 to $1.55 and sale expected to complete by 15 Jan 2015 Coupled with the 600 rooms of 2 brand new hotels in front of Istana,hope one day maybe the closely knit family may sell off at a higher valuation.Ever hit a high of $2 plus slightly