Monday, January 28, 2013

Hiap Hoe/Super Bowl

Hiap Hoe/Super Bowl: Their first-ever hotel - Days Hotel - opened a few weeks ago on Balestier Road and their second one - Ramada Hotel, just a stone's throw away - is due to open in a few weeks. The two hotels were developed by a JV of the two co’s at a bargain price during the depths of the 2008 global financial crisis. The impending opening of these hotels has given some buzz to the stocks of the two listed property developers in the past year (see charts), aided by SG's strong tourism numbers. The stocks continue to hold their own because they are currently still trading at more than 50% discount to their RNAVs, going by estimates.

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