Friday, December 12, 2008
BUYING HONG FOK IS LIKE BUYING A PROPERTY WHICH WAS ONCE WORTH 1.86MILLION AT THE PEAK OF THE CYCLE AND NOW HAS CRUSHED TO $160,000. WHEN IT WAS AT 1.86MILLION I WAS TELLING MYSELF, IF ONLY...................... A WAR, ANOTHER SARS, A FINANCIAL CRISIS COULD CRUSH THIS BABY SO THAT I CAN COME IN A BUY
ANOTHER REASON WHY I SAY HONG FOK IS A STEAL AT CURRENT PRICE, AMONG ALL THE LISTED PROPERTY COUNTERS HONG FOK HAS THE BIGGEST DISCOUNT TO ITS NAV OF $1.37CENTS. ABOUT 85%. YOU GO AND DO YOUR OWN MATH. GUOCOLAND NAV 2.50 SHARE PRICE $1.15, KEPLAND NAV $3.26 SHARE PRICE $2.17, HO BEE NAV $1.164 SHARE PRICE 40.5CENTS, CAPITAL LAND $3.81 SHARE PRICE $3.24, WING TAI $2.09 SHARE PRICE 76CENTS, WHEELOCK PROP. NAV $1.72 SHARE PRICE 95CENTS. SC GLOBAL NAV 97CENTS SHARE PRICE 61CENTS. THE RANGE IS BETWEEN 14%-65%. SO THINK ABOUT IT, WHY HONG FOK IS NOT SUNKIST ORANGE AT 8CENTS
I'M STILL QUEUING TO BUY HONG FOK 20CENTS, I CONSIDER HONG FOK AT THIS PRICE, IS A STEAL, RECENTLY, IF YOU CAN REMEMBER YTL CORPORATION BUYING INTO MMP REITS AT 82CENTS, ITS NAV VALUE IS $1.61 CENTS, THAT'S ABOUT 50% BELOW THE PRICE OF ITS NAV. NOW I'M BUYING HONG FOK AT 85% BELOW ITS NAV OF $1.37. HOW, GOOD OR NOT? YOU DECIDE. HONG FOK, LIKE I SAID OWNS THE CONCOURSE, I DON'T KNOW HOW MUCH THEY PAY FOR THIS PIECE OF LAND. MUST BE DIRT CHEAP AND BESIDES THE CONCOURSE, THEY ALSO OWN THE INTERNATIONAL BUILDING IN ORCHARD ROAD. WHICH IS FREEHOLD. AND AT WHAT PRICE DID THEY PAY FOR THIS LAND? YES, DIRT CHEAP AGAIN
Thursday, December 11, 2008
Tuesday, December 9, 2008
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