Guocoleisure

Guocoleisure: No news on the 6.2% surge today. Company last announced 2Q13 results on 25 Jan 2013, and mentioned that that the adverse situation in the Eurozone and UK continues to have an impact on the group’s hospitality business which is its largest segment. However, mgmt expects contribution from the Bass Strait oil and gas royalty in Australia to remain strong. The group will also continue to focus on the disposal of its remaining assets in Fiji. Overall, mgmt expects the group to perform satisfactorily. Market watchers have tipped Guocoleisure as an undervalued asset play, particularly as the bulk of its assets comprise invmt properties and properties under devt. In 4Q12, The Edge tipped that the retirement of Jeremy Hosking, a key founder-director of Marathon Asset Mgt, could be a prelude to privatization of the companies it has invested in – Guocoleisure being amongst the list. Hosking was known for value investing, and as an activist shareholder, resisted several buyout offers by major shareholders previously.