Friday, 27 April 2012

Orchard Parade Holdings (O10.SI)

Orchard Parade Holdings hospitality portfolio includes the 388-room Orchard Parade Hotel, 210-room Albert Court Village Hotel and the Central Square Village Residences with 127 serviced residences. OPH Investment portfolio includes Tanglin Shopping Mall, OPH Podium Block and Albert Cout Commercial units with a total lettable area of  7,108 square metres. OPH Development portfolio includes Floridian (own 60% of 336 units in JV with Wing Tai), euHabitat (own 20% of 750 units in JV with Far East Organisation), 7 and 11 Bassein Road (own 30%) and Land Parcel 825 at Robinson Road (own 20%). It also owned the Plaza Atrium which is under development into serviced apartments Malaysia.

OPH is also a substantial shareholder of Yeo Hiap Seng with 49.51%. Effectively, OPH owns 284.24 million shares of the 574.12 million outstanding shares of Yeo Hiap Seng.

The company announced its 1Q2012 results on 27 April 2012.

FY2011 EPS is 34 cents.
1Q2012 NAV is $3.16
1Q2012 EPS is 12 cents.
Outstanding shares: 363.31 million.
Shares go ex-dividend on 9 May 2012. Dividend is 9 cents a share.

The Group had clarified on both 14 July 2011 as well as recently on 5 March 2012 that it was in preliminary discussions with Far East Organization over the possible injection of some assets held by the Group into a Real Estate Investment Trust (“the Transaction”). It should be noted that there is no certainty that the Transaction will be carried out.

Current price is $1.74
Chart looks neutral.

(note: Orchard Parade Holdings changed its name to Far East Orchard with effect from 31 Jul 2012. Symbol O10.SI remains the same. Will update when 2Q results are out)

Chart forOrchard Parade Holdings Ltd. (O10.SI)

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