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it was 48p prior to announcement so i think DIVI is priced in this time Last year, it was announced subject to sale which was months ago so i think a lot of people missed it - i bought more a few weeks prior before any rise hoping that this wasn't a 'dodgy Chinese' company. A lot of people will sell on DIVI DATE (seen it many times) and i still think too many people think its high risk as Chinese but at least i know this has a track record of paying a decent dividend and happy to hold for years
Hi Dan. Agreed so very undervalued and def worth a play.. These Special Divi shares have been kind to me over the years. The figures this one plays with are eye watering and they honor the shareholders with great Dividends. I have expected this to be a lot higher than it currently is maybe it will still be ? Roughly 28% of divi payment if in before next Thursday 30/3. I once had one where I managed t sell on x day with no reduction and the Divi was payed out fine.. Best luck all.
The issue is that people dont like Chinese Companies as so many fell due to fraud here The positive is circa 97% is in BOD They are paying Dividends - 40p in a year If that was a FTSE company - you would expect £8 - £10 a share minimum I know its an exceptional circumstance with the sale of Lah Dinga but its good to see this been distributed I bought on news of sale, i topped up prior to original dividend and then sold a stake as i was too top heavy here - retained a small free interest but this has been my best share not to watch and keep up to date on
Amazing result, if we add the 17 p dividend paid less than a year ago equates to 99p now vs 17p a year ago, has any stock done better over this period?...now as Dan says another 23.4p dividend. With an NTA of 182p [with hotel revaluation] and NET cash of 74.5p [pre dividend] it still looks cheap....Move into UK property with weak pound and asset values looks like another smart move .... with an NTA of 182p [selling at 45% of NTA today] and the track record of value growth by the executive and directors and the significant reduction of running costs the valuation gap should close, thanks and look forward to the share price reflecting the NTA
CASH ASSETS MORE THAN SP ALL GOOD TO ME
I am not one to ever say "I told you so", but ............... Go AGP.
Well done, DanBrown83.
23.4p it works out at current Exchange Rate.
Happy Days with these accounts Why looking at the Financials is always a good thing
London a massive beacon for new business deals, see some of the big names shifting hqs and jobs to the city. This should be an astute purchase for coming years imo.
IMO its at worst neutral and probably a good purchase. There are two ways that AGP can maintain the huge discount between NTA and its share price - make heavily value destroying purchases and never resolve the ownership structure. This shouldn't be a value destroying purchase. Noting the purchase was in the country of its stock exchange listing it could be part of a master-plan to resolve liquidity issues.
A gilt edged property investment, and an astute foreign exchange play following the Brexit battering of the GBP. This will almost certainly prove to be an excellent long term investment for AGP as world markets face some volatility over the next decade.
Dunno on this one: Positive is Tenant quality / strength and Rent Roll is decent for London Property Negative is why invest in London now - outlook for London Property is at an all time low with BREXIT looming Other positive is that its diversification into UK and not holding every asset in Asia is certainly decent
Note the NAV of 140.6p after the payment of the special dividend. The majority of this is now represented by cash with a further increase to come in both NAV and cash holdings from the subsequent sale of the Chengdu China property.
AGP released their 6mth result late Friday 19 Aug. This included the following comment about its net cash position: “As at 30 June 2016, after netting off bank borrowings of HK$1,459.4 million (£139.6 million), the Group had a net cash position of HK$8,586.2 million (£821.2 million), compared to a net debt position of HK$342.3 million (£29.8 million) with gearing ratio of 2.3% as at 31 December 2015.” So with 886m shares on issue the net cash position is 93p per share. AGP also has some other property assets. The exchange rates have also assisted pounds based values to be larger - The annual report exchange rates are: For 30 June 2016: £1 = HK$10.4562 For 31 December 2015: £1 = HK$11.4841 For 30 June 2015: £1 = HK$12.1357 For the Company's shareholders' information, the exchange rate on 18 August 2016 was £1 = HK$10.1975
someone is building in 7.5k chunks
Just calculated the Dividend would of been 11% higher using current exchange rate. Using the same circa 10% is a huge revaluation due to exchange rate - especially when a significant proportion is in cash
Market Makers have just widened the spread in every share until BREXIT calms down - whether it benefits the company or not
So this companies assets are predominately Asian assets, especially HKD cash. The Pound falls against all currencies so foreign assets are theoretically more valuable when converted back into Pounds. The Market Makers response is to lower the buy and sell quotes - go figure
Paid in to account around 2pm today . Small profit if I sell , bought in at 33p / 50p / 52p .
Just received my Dividend If you haven't received - i recommend contacting your Broker
Dear Mr Brown, Thank you for your secure message dated 13 June 2016. This is the first dividend payment we have received from Asian Growth Properties (AGP: VGG054341083) and as such, we are unsure what to expect when it comes to payment from the company. As this is being paid from Hong Kong, we do have to wait for the money to be passed from our International Custodian for this dividend - generally with matters like this, it can take up to 10 working days for us to actually receive the cash. The cash may also be paid to us in Hong Kong Dollars, and as our accounts only deal in Sterling we would have to convert the monies, too - a process which can take a few working days to complete, depending on how many of our clients holding this stock. This is the first working day after the dividend's payment date, and I anticipate that we will receive the dividend payment within the coming working days. Whether this has to be converted from Hong Kong Dollars is another matter that we unfortunately cannot determine at this point. It may be best to follow this up within 10 working days, when we should have clearer information on the payment details. I appreciate this may cause inconvenience, please accept my apologies. Should you have any further enquiries, please do not hesitate to get in touch again. Our response time to secure message or email is usually 1 working day, although in times of high volumes we may take up to 5 working days.
I'm sure it'll land for you soon, Dan. Enjoy your weekend. Hopefully next week, eh?
As I said, message back from my bud was that it will take a bit longer as it's a foreign currency conversion.
I phoned interactive investor and they are looking into it for me, anyone get anything today??