Hotel Properties Limited (HPL) / Ong Beng Seng

[winston]

vested

Nov 13, 2019

3Q Results

Revenue: +3%
Profits Before Tax: -71%

https://links.sgx.com/FileOpen/Announce ... eID=585822

[behappyalways]

Hotel Properties' new UK-based joint venture to acquire 90% stake in Italian hotel for $61 mil
https://www.theedgesingapore.com/news/m ... tel-61-mil

[winston]

not vested

BRIEF-Hotel Properties Posts HY Loss Attributable S$71.8 Million

Aug 14 (Reuters) - Hotel Properties Ltd :

* HOTEL PROPERTIES LTD- HY LOSS ATTRIBUTABLE S$71.8 MILLION VERSUS PROFIT OF S$16.6 MILLION

* HOTEL PROPERTIES LTD- HY REVENUE S$144.8 MILLION VERSUS S$277.2 MILLION

Source: Reuters

[behappyalways]

HPL to book $29 million gain from sale of London hotel
https://www.theedgesingapore.com/news/p ... ndon-hotel

[behappyalways]

Hotel Properties disposes of all its units at Ming Arcade
https://www.theedgesingapore.com/news/p ... ing-arcade

[winston]

not vested

DBS initiates 'buy' on Hotel Properties with TP of $4.35

by Felicia Tan

Runs and owns 39 hotels across 15 countries under renowned names such as Four Seasons, Concorde, InterContinental Hotels, Six Senses and Como.

The group is also involved in property development in Singapore, Thailand and the UK and owns prime commercial and retail properties in Singapore.

Source: The Edge

https://www.theedgesingapore.com/capita ... ies-tp-435

[winston]

not vested

HPL back in the black for FY2022 with earnings of $76.4 million

Hotel Properties has reported earnings of $76.4 million for FY2022, a big swing from the loss of $7.7 million suffered in the preceding financial year ended Dec 31 2021.

Revenue increased by 52.7% to $525.5 million, as the property and hospitality firm enjoyed a strong recovery from the pandemic.

The company plans to pay a first and final dividend of 4 cents per share, plus a special dividend of 1 cent. For the preceding FY2021, HPL paid 4 cents.

Its NAV, as at Dec 31 2022, was $3.16, down from $3.25.

Source: The Edge Singapore

https://www.theedgesingapore.com/capita ... 64-million

[winston]

Hotels Properties Limited (HPL) – Plans to rejuvenate its Orchard assets back on the cards?

HPL reportedly submitted a development proposal for its Orchard assets i.e., The Forum Mall, Voco Orchard and HPL House sites

If approved, potential to lift overall GFA by more than 5x if built to full potential with a mega- development integrating hotel and retail assets touted

Sizable capex outlay could mean that HPL could look for capital partners to co-develop the site

Significant uplift to current RNAV of S$5.80/share expected as we have valued the properties on an “as-is” basis

Source: DBS

https://www.dbs.com/insightsdirect/comp ... ecid=14664

[winston]

not vested

Hotel Properties Limited ($3.86, down 1 cent) reported that that it has been notified by Mr Ong Beng Seng, Managing Director of the Company, that he has been requested by the Corrupt Practices Investigation Bureau (“CPIB”) to provide information in relation to his
interactions with Minister S Iswaran.

Mr Ong has further updated the Board as set out below.

1. No charges have been filed against Mr Ong.

2. He will be travelling from 14 July 2023 and will be surrendering his passport to CPIB upon his return to Singapore.

3. He has been given a notice of arrest and has posted bail of $100,000.

4. Mr Ong is cooperating fully with CPIB and has provided the information requested.

5. As this is an ongoing matter, he is unable to provide further details at this point. He has undertaken to provide updates to the Board if there are subsequent material developments.

The Nominating Committee has assessed the above and has determined that Mr Ong continues to be suitable to carry out his duties and responsibilities as Managing Director.

The Board and the Nominating Committee will continue to monitor the progress of the
matter and the Nominating Committee will continue to re-assess the suitability of the continued appointment of Mr Ong.

The Company will update on any material developments in respect of this matter.

Hotel Properties Limited’s market cap stands at S$2.0bln and currently trades at 22.7x forward PE and 1.2x PB, with NAV of $3.16 and dividend yield of 1.3%

Consensus target price stands at $4.35, representing 12.7% upside to share price.

Source: Lim & Tan

[winston]

not vested

Who is Ong Beng Seng, the tycoon caught up in CPIB’s probe involving Iswaran?

As at December 2022, HPL’s hotel division had a portfolio of 38 hotels and resorts across 15 countries including Singapore, the United States, the Maldives and Italy.

It owns brands such as the Four Seasons Hotels & Resorts, Hard Rock Hotels and Marriott International.

In May 2022, HPL was part of a consortium – along with state-owned investment firm Temasek – that bought the real estate assets of Singapore Press Holdings, the former publisher of The Straits Times, for US$2.8 billion. The assets include Paragon shopping mall and the Seletar shopping mall.

Source: The Star

https://www.thestar.com.my/aseanplus/as ... ng-iswaran