Friday, December 12, 2008
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
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