Probably old fuck idea. Based on lousy information from ho jinx. Ho jinx just a useless puppet. Yeah. Some parties have to benefit out of the deal.
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Temasek in talks to buy stake in Li Ka Shing's A. S. Watson: Wall St Journal
- Thread starter nutbush
- Start date
Ho Jinx Just Made Hongkongers USD 5.7B Richer!
http://www.reuters.com/article/2014/03/21/us-watson-temasek-holdings-idUSBREA2K06M20140321
[h=1]Temasek agrees to buy stake in beauty retailer A.S.Watson for $5.7 billion[/h]By Denny Thomas and Donny Kwok
HONG KONG Fri Mar 21, 2014 6:52am EDT
0 Comments
<!-- end PhotoControls-->
1 of 3. Hutchison Whampoa Limited Deputy Chairman Victor Li (L-R), Chairman Li Ka-shing and Group Managing Director Canning Fok attend a news conference in Hong Kong March 21, 2014.
Credit: Reuters/Bobby Yip
<!-- end slideshowInline -->
[h=3]Related Topics[/h]
HONG KONG (Reuters) - Singapore state investor Temasek Holdings TEM.UL has agreed to buy almost a quarter of health and beauty retailer A.S. Watson for about $5.7 billion in what would be its single biggest investment and one that would boost its exposure to Asia's fast growing consumer sector.
The purchase of 24.9 percent of A.S. Watson, owned by Asia's richest man Li Ka-shing, is part of Temasek's aggressive reshaping of its $170 billion portfolio to ensure higher returns. The state investor's returns have often lagged its own internal metric in recent years as it focused on blue chip stocks.
Retail sector investments are seen as a way to profit from rising consumer spending in emerging Asian markets such as China and Indonesia. A.S. Watson's business includes personal care stores which dominate the beauty and health market in China, a sector forecast to grow by around 40 percent to $186 billion by 2015.
"The consumer retail sector is a good proxy to growing middle income populations and transforming economies," Chia Song Hwee, head of the Temasek's investment group, said in a statement.
"This is very much part of our investment themes as we shape Temasek's portfolio for the long term."
Temasek has 24 consumer-related direct investments, according to Standard & Poor's CapitalIQ database. They include China online education services company TutorGroup, global sourcing firm Li & Fung Ltd (0494.HK) and Indonesia retail giant PT Matahari Putra Prima TBK (LPPF.JK).
Last week, a Temasek-led shareholder group offered $2.1 billion in cash for the shares in commodities trader Olam International Ltd (OLAM.SI) they don't already own. Reuters previously reported the state investor was seeking to sell a stake in Thai telecoms operator Shin Corp INTUCH.BK.
GOOD RELATIONSHIP
Li's Hutchison Whampoa (0013.HK), which owns A.S. Watson, said in a statement on Friday that it would use part of the proceeds from the stake sale to pay a special dividend of HK$7.00 per share to its shareholders.
Hutchison launched a strategic review of its retail operations in October, aiming to float part of A.S. Watson in Hong Kong, among other financial centers, in what would have been the world's biggest retail sector initial public offering.
Li told reporters he was still considering an IPO in A.S. Watson in Hong Kong and Singapore, but that any such offering was likely to happen in two to three years.
Li had previously said the IPO, aimed at raising money to expand the health and beauty business in China, was likely to take place this year.
"We have a very good relationship with Temasek," Li said. "Sometimes we are not only looking at the pricing. If the partners like it very much and consider we are doing the right thing, we are happy."
Temasek's investment in A.S Watson values the company at HK$177 billion ($22.8 billion). A.S. Watson's business includes supermarket chain ParknShop and the Watsons and Superdrug and Kruidvat personal care stores.
Last year, Hutchison Whampoa scrapped the sale of ParknShop after bids for the company came in below expectations.
A.S. Watson last year generated $19.2 billion in revenue last year from some 11,000 outlets worldwide.
Its net profit rose by 13 percent in financial year ending Dec 29, 2013 to HK$7.8 billion, Hutchison said in the statement.
(Additional reporting by Stephen Aldred and Donny Kwok; Editing by Ryan Woo and Miral Fahmy)
http://www.reuters.com/article/2014/03/21/us-watson-temasek-holdings-idUSBREA2K06M20140321
[h=1]Temasek agrees to buy stake in beauty retailer A.S.Watson for $5.7 billion[/h]By Denny Thomas and Donny Kwok
HONG KONG Fri Mar 21, 2014 6:52am EDT
0 Comments
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<!-- end PhotoControls-->
1 of 3. Hutchison Whampoa Limited Deputy Chairman Victor Li (L-R), Chairman Li Ka-shing and Group Managing Director Canning Fok attend a news conference in Hong Kong March 21, 2014.
Credit: Reuters/Bobby Yip
<!-- end slideshowInline -->
[h=3]Related Topics[/h]
- Deals »
- Global Deals Review: 2011 Q3 »
- Global Deals Review: 2011 Q2 »
- Global Deals Review »
- Inflows Outflows »
HONG KONG (Reuters) - Singapore state investor Temasek Holdings TEM.UL has agreed to buy almost a quarter of health and beauty retailer A.S. Watson for about $5.7 billion in what would be its single biggest investment and one that would boost its exposure to Asia's fast growing consumer sector.
The purchase of 24.9 percent of A.S. Watson, owned by Asia's richest man Li Ka-shing, is part of Temasek's aggressive reshaping of its $170 billion portfolio to ensure higher returns. The state investor's returns have often lagged its own internal metric in recent years as it focused on blue chip stocks.
Retail sector investments are seen as a way to profit from rising consumer spending in emerging Asian markets such as China and Indonesia. A.S. Watson's business includes personal care stores which dominate the beauty and health market in China, a sector forecast to grow by around 40 percent to $186 billion by 2015.
"The consumer retail sector is a good proxy to growing middle income populations and transforming economies," Chia Song Hwee, head of the Temasek's investment group, said in a statement.
"This is very much part of our investment themes as we shape Temasek's portfolio for the long term."
Temasek has 24 consumer-related direct investments, according to Standard & Poor's CapitalIQ database. They include China online education services company TutorGroup, global sourcing firm Li & Fung Ltd (0494.HK) and Indonesia retail giant PT Matahari Putra Prima TBK (LPPF.JK).
Last week, a Temasek-led shareholder group offered $2.1 billion in cash for the shares in commodities trader Olam International Ltd (OLAM.SI) they don't already own. Reuters previously reported the state investor was seeking to sell a stake in Thai telecoms operator Shin Corp INTUCH.BK.
GOOD RELATIONSHIP
Li's Hutchison Whampoa (0013.HK), which owns A.S. Watson, said in a statement on Friday that it would use part of the proceeds from the stake sale to pay a special dividend of HK$7.00 per share to its shareholders.
Hutchison launched a strategic review of its retail operations in October, aiming to float part of A.S. Watson in Hong Kong, among other financial centers, in what would have been the world's biggest retail sector initial public offering.
Li told reporters he was still considering an IPO in A.S. Watson in Hong Kong and Singapore, but that any such offering was likely to happen in two to three years.
Li had previously said the IPO, aimed at raising money to expand the health and beauty business in China, was likely to take place this year.
"We have a very good relationship with Temasek," Li said. "Sometimes we are not only looking at the pricing. If the partners like it very much and consider we are doing the right thing, we are happy."
Temasek's investment in A.S Watson values the company at HK$177 billion ($22.8 billion). A.S. Watson's business includes supermarket chain ParknShop and the Watsons and Superdrug and Kruidvat personal care stores.
Last year, Hutchison Whampoa scrapped the sale of ParknShop after bids for the company came in below expectations.
A.S. Watson last year generated $19.2 billion in revenue last year from some 11,000 outlets worldwide.
Its net profit rose by 13 percent in financial year ending Dec 29, 2013 to HK$7.8 billion, Hutchison said in the statement.
(Additional reporting by Stephen Aldred and Donny Kwok; Editing by Ryan Woo and Miral Fahmy)
Re: Ho Jinx Just Made Hongkongers USD 5.7B Richer!
C, that's y I said recently lee Kah shing praised Singapore there was an ulterior motive ... He laughing us as 凱子
C, that's y I said recently lee Kah shing praised Singapore there was an ulterior motive ... He laughing us as 凱子
Re: Ho Jinx Just Made Hongkongers USD 5.7B Richer!
Li Cash King said the deal was consummated so fast for something involving so much money that TemaSICK must have not done proper due diligence. 今次「閃賣」屈臣氏股權，可謂快「快到離譜」，李嘉誠說︰「歷史之中如此大的交易，雙方傾談順利，快到離譜」
Chinese article said TemaSICK paid 20 times last year's earnings and 22 times this year's estimated earnings. Which means this year's earnings will be lower than last year's. Pay 22 times earnings for a business with declining profits? Only TemaSICK can do that.
「快到離譜」? Why waste time on proper due diligence when the name is all that matters? Yeah right - Lehman, UBS, Merrill Lynch, et cetera - those are all famous names. Price is not important, after all it is daft Sinkies' money. If loss, at most remind Sinkies that TemaSICK is owned by Ministry of Finance so none of their business anyway.
售 屈 臣 氏 股 權 李 嘉 誠 ： 非 撤 資
(星島日報報道)和黃（013）原本計畫分拆屈臣氏零售業務上市，昨突然變「閃電」引入新加坡主權基金淡馬錫做股東，以四百四十億港元代價，出售百分之二十四點九五屈臣氏權益予淡馬錫。長和主席李嘉誠反駁外界指他撤資的說法，指「這次派發特別股息，等同賣了部分海外資產拿回來香港派息。屈臣氏海外店鋪佔九成四，香港只佔百分之六。所以不要再說我從香港撤資，不要成為笑話。」
今次「閃賣」屈臣氏股權，可謂快「快到離譜」，李嘉誠說︰「歷史之中如此大的交易，雙方傾談順利，快到離譜」；他指今年屈臣氏肯定不會上市，但會在兩至三年內在港星兩地第一上市，希望爭取更高估值。屈臣氏暫時無意在倫敦上市，他指因為要在多一個市場上市，要做多很多工作。
說到撤資問題，他說︰「和黃和長江都是國際公司，沒有分香港或外國。例如八號碼頭西，和黃不夠兩年前買入，早前出現好提議，引入中遠為夥伴，增多了生意，在商言商，即使賣了六成，但是由和黃港口管理，希望大家明白，長和出售資產，大家不要再分香港、海外。今次出售屈臣氏所得，都是貢獻香港，是一件好事。」
按交易價計，屈臣氏估值約一千七百七十億港元，相當於每股佔和黃四十一點五元，即和黃昨日收市價一百零七元的三成九。去年底時屈臣氏資產淨值約九十二億元，市場人士指出，由於交易之故，和黃要將屈臣氏的價值重新列帳，即相當於今年有特殊盈利接近一千六百八十億元。和黃及長實股東都可獲派每股特別息七元，也是公司罕有的安排。
為何選擇與淡馬錫組成策略聯盟，他說，和黃與淡馬錫在業務上一直都合作愉快，例如貨櫃碼頭，珍惜彼此合作的關係。和黃當初進行策略評估時，向一些潛在投資者了解對屈臣氏的興趣。和黃主動接觸淡馬錫，對方有非常濃厚的興趣，他認為，賣給一個投資者比今年上市更好。他指上市沒有困難，目的是籌集資金，現在這個方式更快捷，有何不好？
至於淡馬錫會否增持？他說亦有可能，但目前不能說得準確。淡馬錫入股能釋放出屈臣氏價值，又能為和黃所持餘下權益提供估值重要參考根據，是更佳的選擇。
有說法指交易作價較市場預期略低，他認為作價算高還是低，交由市場作判斷。長和與淡馬錫關係良好，出售並非只看售價，而且淡馬錫是很好的夥伴。以二○一三年企業價值與除息稅及攤銷前盈利計，則為十三倍。去年經調整後市盈率約為二十倍，今年則為二十二倍，即估計盈利至少達八十億元，去年則為七十八億元。
淡馬錫投資部總裁謝松輝指，收購屈臣氏權益有助涉足更多零售行業，平衡在亞洲及歐洲的發展；零售行業將成為淡馬錫其中一個長遠投資組合。
至於長和會否有些資產是不會出售？李嘉誠坦言，資產不是古董，如果有一個很吸引的出價，也可能會出售的。至於今年會考慮出售那些資產？他以「不如拿本帳簿出來講」輕鬆化解敏感問題。
http://std.stheadline.com/yesterday/loc/0322ao01.html
Li Cash King said the deal was consummated so fast for something involving so much money that TemaSICK must have not done proper due diligence. 今次「閃賣」屈臣氏股權，可謂快「快到離譜」，李嘉誠說︰「歷史之中如此大的交易，雙方傾談順利，快到離譜」
Chinese article said TemaSICK paid 20 times last year's earnings and 22 times this year's estimated earnings. Which means this year's earnings will be lower than last year's. Pay 22 times earnings for a business with declining profits? Only TemaSICK can do that.
「快到離譜」? Why waste time on proper due diligence when the name is all that matters? Yeah right - Lehman, UBS, Merrill Lynch, et cetera - those are all famous names. Price is not important, after all it is daft Sinkies' money. If loss, at most remind Sinkies that TemaSICK is owned by Ministry of Finance so none of their business anyway.
售 屈 臣 氏 股 權 李 嘉 誠 ： 非 撤 資
(星島日報報道)和黃（013）原本計畫分拆屈臣氏零售業務上市，昨突然變「閃電」引入新加坡主權基金淡馬錫做股東，以四百四十億港元代價，出售百分之二十四點九五屈臣氏權益予淡馬錫。長和主席李嘉誠反駁外界指他撤資的說法，指「這次派發特別股息，等同賣了部分海外資產拿回來香港派息。屈臣氏海外店鋪佔九成四，香港只佔百分之六。所以不要再說我從香港撤資，不要成為笑話。」
今次「閃賣」屈臣氏股權，可謂快「快到離譜」，李嘉誠說︰「歷史之中如此大的交易，雙方傾談順利，快到離譜」；他指今年屈臣氏肯定不會上市，但會在兩至三年內在港星兩地第一上市，希望爭取更高估值。屈臣氏暫時無意在倫敦上市，他指因為要在多一個市場上市，要做多很多工作。
說到撤資問題，他說︰「和黃和長江都是國際公司，沒有分香港或外國。例如八號碼頭西，和黃不夠兩年前買入，早前出現好提議，引入中遠為夥伴，增多了生意，在商言商，即使賣了六成，但是由和黃港口管理，希望大家明白，長和出售資產，大家不要再分香港、海外。今次出售屈臣氏所得，都是貢獻香港，是一件好事。」
按交易價計，屈臣氏估值約一千七百七十億港元，相當於每股佔和黃四十一點五元，即和黃昨日收市價一百零七元的三成九。去年底時屈臣氏資產淨值約九十二億元，市場人士指出，由於交易之故，和黃要將屈臣氏的價值重新列帳，即相當於今年有特殊盈利接近一千六百八十億元。和黃及長實股東都可獲派每股特別息七元，也是公司罕有的安排。
為何選擇與淡馬錫組成策略聯盟，他說，和黃與淡馬錫在業務上一直都合作愉快，例如貨櫃碼頭，珍惜彼此合作的關係。和黃當初進行策略評估時，向一些潛在投資者了解對屈臣氏的興趣。和黃主動接觸淡馬錫，對方有非常濃厚的興趣，他認為，賣給一個投資者比今年上市更好。他指上市沒有困難，目的是籌集資金，現在這個方式更快捷，有何不好？
至於淡馬錫會否增持？他說亦有可能，但目前不能說得準確。淡馬錫入股能釋放出屈臣氏價值，又能為和黃所持餘下權益提供估值重要參考根據，是更佳的選擇。
有說法指交易作價較市場預期略低，他認為作價算高還是低，交由市場作判斷。長和與淡馬錫關係良好，出售並非只看售價，而且淡馬錫是很好的夥伴。以二○一三年企業價值與除息稅及攤銷前盈利計，則為十三倍。去年經調整後市盈率約為二十倍，今年則為二十二倍，即估計盈利至少達八十億元，去年則為七十八億元。
淡馬錫投資部總裁謝松輝指，收購屈臣氏權益有助涉足更多零售行業，平衡在亞洲及歐洲的發展；零售行業將成為淡馬錫其中一個長遠投資組合。
至於長和會否有些資產是不會出售？李嘉誠坦言，資產不是古董，如果有一個很吸引的出價，也可能會出售的。至於今年會考慮出售那些資產？他以「不如拿本帳簿出來講」輕鬆化解敏感問題。
http://std.stheadline.com/yesterday/loc/0322ao01.html
Re: Ho Jinx Just Made Hongkongers USD 5.7B Richer!
Nobody contributes to the CPF insomuch as they get robbed by the CPF.
[video=youtube;ElKCso_muLs]https://www.youtube.com/watch?v=ElKCso_muLs[/video]
Nobody contributes to the CPF insomuch as they get robbed by the CPF.
[video=youtube;ElKCso_muLs]https://www.youtube.com/watch?v=ElKCso_muLs[/video]
Re: Ho Jinx Just Made Hongkongers USD 5.7B Richer!
HKonger are smiling to their banks, hehehe... thanks for the CPF money.
HKonger are smiling to their banks, hehehe... thanks for the CPF money.
my philosophy is not to place all eggs in a basket.
your thinking is gambling not trading.
your thinking is gambling not trading.
Last edited:
What Temasick board members all so cooperative wor. Wah so many BILLIONs money wor. HEHEHEHEHE. Oh! I forgot, only KAKI lang can get into the board.
remember juz earlier, ah shing was repoted saying sinkielan was betta dan hongkong? ... c? he was oni making ah loon happy so dat ah loon wil pour moni in2 his coy ... n dat 154th was blasting iz trumpet n daft sinkies was so conned in2 believing it ...
Re: Ho Jinx Just Made Hongkongers USD 5.7B Richer!
Classic Chinese Helicopter, for surh for surhhhh.......
Classic Chinese Helicopter, for surh for surhhhh.......
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