Wednesday, 16 May 2012

Hong Fok Corporation (H30.SI)

The company’s investment properties include International Building, a 12-storey commercial building; the Concourse, a 41-storey office tower block with 2 basements; and Concourse Skyline, a retail unit, as well as a vacant land at Claymore Hill. It is developing Concourse Skyline, a part 4/part 7-storey podium car park and apartments with commercial units on the 1st storey, 2 blocks of part 20/part 28-storey, and part 34/part 40-storey housing a total of 360 residential units and 9 retail units. The company’s development properties also comprise Jewel of Balmoral, a 10-storey residential development; and ten@suffolk, a part 13/part 15-storey residential development. Hong Fok Corporation Limited was incorporated in 1967 and is based in Singapore.

NAV at 31 Mar 2012 is $1.30.
FY 2011 EPS is 16.9 cents
All time high is $1.60 in 2008
Outstanding shares is 791,465,621

1Q2012 announced on 15 May 2012
1Q2012 EPS is 0.47 cents.

Hong Fok Corporation is part of Hong Fok Group

International Building is Hong Fok’s freehold prime asset at Orchard Road. Including the surface car park at the rear and an adjoining state land bought in 2007, the combined site is about 54,400 sq ft. Hong Fok has a few redevelopment options on hand. It could do a full redevelopment of the enlarged site to yield a potential 335,000 sq ft of GFA, or have a new building built on the vacant state land or surface car park, or both. Based on its existing use, the latest valuation was less than S$1,600 psf. In April 2011, the car park was put up for tender to redevelop the site into a new 23-storey office tower. There were no takers.

Current price is 44 cents.

Company issued bonus share of 1 for 5 on 18 Apr 2012. 

Chart forHong Fok Corp. Ltd. (H30.SI)

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