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

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1 comment(s). Last comment by albertlaw 2014-08-28 16:36

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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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