Guocoleisure

Guocoleisure: (The Edge) SCB was engaged as the independent financial advise and is due to publish a report on Guoco’s asset valuation nxt mth. Market watchers note that Guocoleisure could be unlikely to offload its main hotel assets, but it could divest off some of its non-tel assets. In particular, its pty development units Molokai Properties and Tabua Investments could be up for a sale / spin-off. Molokai properties owns a 54,677 acre property on the island of Molokai in Hawaii, where according to DMG, several parcels of land have been transacted at prices above book value. Tabua Investments is Guocoleisure’s pty investment arm and the Co. has ben actively looking for buyers for its Fiji assets. Meanwhile, GuocoLeisure is receiving a steady stream of cash froman O&G investment, where it essentially earns royalties from BHP and Esso. While the valuation report for Gucco Grp might not necessarily spark a re-rating for Guocoleisure, it is worth noting that the former offered to take Guocoleisure private at $1.25/share in 2005.