just sharing some notes here ...
not vested.
from sale of 5 wet mkts to sheng siong circular dtd 11nov09
sales of 5 wet mkt for $25.55m
(open mkt value = $29.2m, heeton selling at deficit 13%)
this disposal will generate surplus cash of abt $15m ($0.067 cash per sh) after paying off loans etc
will be used for working capital.
no mention of returning as div.
from 3Q09
NAV = $0.77
num of sh = 223,846,00
equity = 173,824,000
investment prop = 238.5m
devlpt prop = $259.569m
debt = 347.08m => d/e = 1.99! but i guess if they r able to survive last yr, they shld be able to survive moving fwd?
cash + fd = 17.421m = $0.077 cash per sh
but pg 4 showed they have bank overdrafts + fd pledged.
thus reducing cash + cash equivalents to $291,000 only