Guocoleisure

Guocoleisure - Recall that Street has been touting the independent valuation report by SCB, on GuocoGroup assets to be released somewhere in the end of April, which would cast further light on the actual valuations of its subsidiary GuocoLeisure. Recall that GLL’s properties are held at deep discount to book value. GLL carries its hotels and property, plant and equipment at historical cost less accumulated depreciation. According to mgt, the last revaluation date was in 2005. With an independent valuation report of GLL’s assets likely to be issued in the near term (due to privatisation of Guoco Group, the ultimate holding company of GLL), market watchers believe it will shed light on the highly undervalued property portfolio.