Metro Holdings Limited (M01.SI)

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jgyy1990

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This thread is to discuss about metro holdings as I have yet to see any comments on it.

a brief introduction on the company from metro webbie

Listed on the Main Board of the SGX-ST in 1973, Metro Holdings was founded in 1957 by its former chairman, Ong Tjoe Kim. Starting out as a textile store on 72 High Street, Metro has grown over the years to become a property development and investment group, backed by an established retail track record, with a turnover of S$175.2 million and net assets of S$1.0 billion as at March 31, 2011.

Today, the Group operates two core business segments – property development and investment, and retail – and is focused on key markets in the region such as the People’s Republic of China, Indonesia and Singapore.

This month it seems that metro have hit 1 dollar.
 
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Metro Holdings to launch Alexandra Road condominium project this year

Published on May 29, 2013
9:41 PM
By Melissa Tan







METRO Holdings will launch its first Singapore residential project in nearly two decades later this year and plans to further expand its footprint in China, it said.

A site at Prince Charles Crescent off Alexandra Road, which Metro is jointly developing with Wing Tai and UE E&C, will go on the market by the end of the third quarter, chairman Winston Choo said at a results briefing on May 29.

The project's ground-breaking is scheduled for June 4 and the developers are looking to launch it at $1,500 psf at least, he said.

The group suffered an 81 per cent plunge in fourth-quarter net profit year-on-year to $14.9 million.
 
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Metro Holdings profit crashed 29.3% to $91.9m

Metro Holdings profit crashed 29.3% to $91.9m

Blame it on one-off divestment gain.
In a release, Mainboard-listed Metro Holdings Limited reported that its revenue held steady at S$187.1 million for the full year ended 31 March 2013, notwithstanding a decline in rental from its core Property division following the disposal of Metro City Beijing last year.

Turnover was bolstered by higher sales from the Group’s Retail division, particularly in Singapore and Indonesia, with improving consumer sentiments. Net profit was down 29.3% from S$91.9 million in FY2012 to S$65.0 million in FY2013, mainly due to the one-off divestment gain from the sale of Metro City Beijing in FY2012.

Lt Gen (Rtd) Winston Choo, Metro’s Chairman said, “Looking ahead, FY2014 is shaping up to be an eventful and exciting year for Metro, with several of our property developments coming on-stream.

Residential sale launches will be commencing for the Prince Charles Crescent project in Singapore and the Nanchang project in China.” Concurrent to its ongoing projects, where feasible, the Group continues to embrace opportunities that enable it to recycle capital successfully.

As announced on 4 April 2013, Metro expects to record a gain of approximately S$29.6 million following the disposal of its warehouse property at Pasir Panjang in Singapore. The sale is expected to be completed in FY2014.

At the same time, the Group is looking for further yield improvements through asset enhancement initiatives. While costs of the Property division are expected to be affected by the refurbishment of Metro City Shanghai in FY2014, rental yield is expected to improve following this enhancement exercise.

Notwithstanding keen competition and rising operational costs – in particular, staff and rental costs – in the retail sector both in Singapore and Indonesia, the Retail division seeks to further maintain its sales performance. Profitability of the Retail division’s associated company in Indonesia is likely to be affected by start-up costs of stores, both newly opened and under planning.
 
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zeroX26

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Im digging up this old thread for discussion / feedback.

PB is good, currently trading at a big discount to its NAV of about $1.60. But biz seems to be slow. Do you deem metro as a value buy or a value trap?
 
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Didn't study into the stock but not liking companies that has retail as the main business. Don't think retail is going to do well for this year at least. If I want to invest for their property development, I rather take other companies.

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Lai liao lai liao. Vested since $1 in December.
 
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$1.1
 
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$1.11
 
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$1.12
 
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$1.14
 
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