ROXY-PACIFIC HOLDINGS LIMITED
E8Z.SI
Roxy-Pacific Holdings: - Open market purchases by management
- We note that management continues to purchase from the open market Roxy-Pacific shares, which trade with limited liquidity.
- Yesterday, it was reported that the group’s CEO, Mr Teo Hong Lim, had purchased through his investment vehicle, Kian Lam Investments Pte Ltd, some 35k shares while the share price traded at a wide intra-day range of S$0.39 and S$0.47. Mr Teo had also entered the open market twice over the last two months, purchasing some 152k shares at an average price of S$0.46.
- To recap, Roxy-Pacific reported earlier in the month that its 2Q16 PATMI increased 57% YoY to S$20.6m mostly due to fair value gains on its Australian assets, higher contributions from its development segment and stronger share of associates and JV profits from Eon Shenton.
- The group currently sits on total pre-sale revenues of S$363.3m which will be progressively recognized from 3Q16 to 2020.
- Maintain HOLD with an unchanged fair value estimate of S$0.52 per share.
Eli Lee
OCBC Investment
|
http://www.ocbcresearch.com/
2016-08-26
OCBC Investment
SGX Stock
Analyst Report
0.520
Same
0.520
