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(Post 1 of 38) 09/10/1999.14:31:00 |
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ORCHARD PARADE HOLDINGS LIMITED Joint Venture With Plan-B Technologies Pte Ltd The Board of Directors of Orchard Parade Holdings Limited ("OPHL" or the "Company") is pleased to announce that OPHL has signed a Memorandum of Understanding with Plan-B Technologies Pte Ltd ("Plan-B") to set up Singapore's first IT Incubation Centre through a joint venture company to be called "OPH-POInT.ic Pte Ltd", in which OPHL will take a 90% stake. Plan-B is one of the three Incubation Management Companies appointed by National Science & Technology Board in April this year. Its programme, POInT (Program on Incubating Technopreneurship) was designed and developed specifically to participate in the Technology Incubator Programme to invest in the development of high-tech businesses. The joint venture will promote technopreneurship by providing an integrated suite of physical, personnel and investment capital support to newly start-up businesses involved in the development of high-tech core capabilities. Through OPH-POInT.ic, OPHL will provide the physical infrastructure and facilities to these high-tech start-up businesses at preferential rental rates. OPHL will be working with its parent group, Far East Organization ("FEO"), on designating one of FEO's industrial properties, Eunos Techpark, comprising landed terrace factories with ancillary offices, showrooms and warehouses, as the POInT Incubation Centre. OPHL and Plan-B will also set up the OP Technology Fund with an initial fund of S$3,000,000. The objective of the OP Technology Fund is to invest in the companies which have been selected for the POInT programme and other high-tech companies in varying stages of development in varying amounts on a case by case basis. Through these schemes, OPHL will be involved in the rapidly developing IT industry, which will open up new business opportunities and enable OPHL and its parent, the FEO Group, to expand its customer base in future. This transaction is not expected to have any material effect on the net tangible assets and earnings per share of the Company for the current financial year ending 31 December 1999. None of the Directors or substantial shareholders of the Company has any interest, direct or indirect, in this transaction. BY ORDER OF THE BOARD JENNIFER CHANG MEI-LING SECRETARY Date: 10 September 1999 Submitted by Jennifer Chang Mei-Ling, Company Secretary on 10/09/1999 to the SES |
| (Post 2 of 38) 12/29/1999.15:03:00 |
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ORCHARD PARADE HOLDINGS LIMITED The Board of Directors of Orchard Parade Holdings Limited (the "Company") are pleased to announce that as at the close of business on 9 December 1999, Notices of Election received from members of the Company ("Members") who have elected to participate in the Orchard Parade Holdings Limited Scrip Dividend Scheme (the "Scheme") in respect of the interim dividend of 1% less 26% tax for the financial year ending 31 December 1999 (the "Interim Dividend") resulted in the allotment and issue of an aggregate of 754,791 new ordinary shares of S$0.50 each in the capital of the Company (the "New Shares") at the issue price of S$1.08 per New Share, being equal to the average of the last dealt prices of the Company's shares for each of the market days from 9 November 1999 to 15 November 1999, both dates inclusive, determined in accordance with Clause 4.9 of the Scheme Statement. The New Shares were issued on 28 December 1999 to The Central Depository (Pte) Limited and to Participating Members who are registered in the Company's Register of Members, and the Company has applied for the listing and quotation of the New Shares. The New Shares will rank pari passu in all respects with the existing ordinary shares of the Company in issue. Following the issue of the New Shares, the number of issued and paid-up ordinary shares of the Company was increased to 350,774,021 ordinary shares of S$0.50 each. Members who did not elect to participate in the Scheme have received the Interim Dividend in cash on 28 December 1999. BY ORDER OF THE BOARD JENNIFER CHANG MEI-LING MADELYN KWANG YEIT LAM Secretaries Date: 29 December 1999 Submitted by Jennifer Chang Mei-Ling/Madelyn Kwang Yeit Lam, Secretaries on 29/12/1999 to the SES |
| (Post 3 of 38) 02/14/2000.17:33:00 |
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OPH to issue S$70m worth of Bonds, Singapore Singapore-based Orchard Parade Holdings (OPH) is planning to issue S$70m (approx. US$41.33m) worth of bonds, in order to repay its debts. The bonds issue will be secured on the Central Square mixed development on Havelock Road - owned by OPH Riverside, a subsidiary of OPH. OPH will use the proceeds to repay a S$75m (approx. US$44.28m) loan due yesterday for the construction of the Central Square project. DBS Bank has been appointed to manage the bonds issue, which will mature in 2003. |
| (Post 4 of 38) 03/01/2000.08:19:00 |
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Orchard Parade, Sino Technology take 15 pct stake each in SQL View Orchard Parade Holdings Ltd said it and Sino Technology Corp Ltd have taken a 15 pct stake each in SQL View, which will venture into web-based information management solutions. Additionally, Orchard Parade said it will take up a further 5.0 pct stake in SQL View in exchange for providing incubation services to SQL View at its high-tech industrial park in Singapore. |
| (Post 5 of 38) 03/27/2000.10:37:00 |
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Orchard Parade 1999 net profit pre-extras 3.857 mln sgd vs loss 196.212 mln Orchard Parade Holdings 1999 results: Net profit pre-extras - 3.857 mln sgd vs loss 196.212 mln Extraordinary loss - 26.230 mln sgd vs loss 2.059 mln Net loss - 22.373 mln sgd vs loss 198.271 mln Sales - 212.751 mln sgd vs 193.870 mln Pretax profit - 12.987 mln sgd vs loss 211.514 mln EPS - 1.15 cents vs loss per share 67.02 Final div - nil; unchanged |
| (Post 6 of 38) 04/07/2000.19:10:00 |
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Hi, So much so for the reports and news, but when will it take off? |
| (Post 7 of 38) 04/15/2000.13:29:00 |
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I was alerted to this stock. Didn't really pay much attention to it until I saw the chat which is quite interesting. Something may be brewing after all for this counter and sector...an article in the BT on Fri was talking about how hotels in S'pore are having to turn away guests due to full-capacity. Anyone has further comments on this sector or counter? I have added it on my radar tracking screen already ;-) No vested interests. |
| (Post 8 of 38) 04/19/2000.06:10:00 |
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ORCHARD PARADE HOLDINGS LIMITED PRESS RELEASE OFFICIAL OPENING OF OPH-POInT.ic - THE FIRST PREMIER TECHNOLOGY INCUBATION CENTRE BY ORCHARD PARADE HOLDINGS LIMITED, FAR EAST ORGANIZATION & PLAN-B TECHNOLOGIES · Strategic alliance between OPH-POInT.ic and Oracle Systems, Arthur Andersen & Rajah & Tann to provide an integrated suite of services to technopreneurs 18th April, Singapore - Orchard Parade Holdings Limited (OPHL) and Far East Organization (FEO) jointly announced today the official opening of OPH-POInT.ic. OPH-POInT.ic, a joint venture with Plan-B Technologies Pte Ltd (Plan-B), is Singapore's first premier technology incubation centre that provides assistance to start-up businesses involved in the development of high-tech core capabilities, translating their innovations in technology into commercially viable business ventures. OPH-POInT.ic is 90% owned by OPHL and FEO, with the remaining 10% owned by PLAN-B. In less than six months, OPH-POInT.ic has signed on a total of five new high-tech start-ups or "incubatees" which have settled into four of the six units at the incubation centre. Currently, the incubation centre occupies 6,900 sq. ft. with potential for expansion to about 30,000 square feet in total. With the good response, OPH-POInT.ic is looking to setting up more of such incubation centres to provide assistance to technopreneurs. The creation of OPH-POInT.ic is a timely response to the government's call for technopreneurship. Technopreneurship 21 was launched with the aim to develop entrepreneurial hi-tech businesses as they become a vital component of Singapore's 21st century economic strategy. Technopreneurship 21 strives to lay the foundation with initiatives in four areas, education, facilities, regulation and financing. Recognising that the "incubatees" may require additional assistance, OPH-POInT.ic strives to enhance these offerings by entering into Memoranda of Understanding with three strategic partners, experts in their respective fields, to provide counsel, guidance and a community of business network to these start-ups. They are Oracle Systems (SEA) Pte Ltd, Arthur Andersen and Rajah & Tann. Oracle Systems, part of Oracle Corporation, the world's second largest software company, will provide technology expertise. Arthur Andersen, with a track record of 86 years of growth driven by major business innovations, will provide guidance in eBusiness, Corporate Finance, Tax Services and others. Rajah & Tann, a major Singapore legal firm with specialist practices, will offer counsel on Internet law and regulations, e-commerce, IT contracts and intellectual property. Housed at Eunos Techpark, OPH-POInT.ic's incubatees can benefit from the supportive and intellectually stimulating environment designed to nurture such new ventures. This premier incubation centre is a one-stop high tech facility that provides an integrated suite of services to enable technopreneurs to develop and commercialise their products and/or process innovations. Eunos Techpark, a modern, high-tech industrial development from FEO's quality real estate portfolio located at Kaki Bukit, Eunos Techpark, provides easy access to key locations such as the city centre and Changi International Airport via the major expressways. "Incubatees" will be able to make use of the wide range of facilities such as meeting and conference rooms with presentation equipment and basic business centre services. Incubatees can select their office premises with floor areas ranging from 650 sq. ft. to 2,700 sq. ft. Recreational amenities include swimming pool, jacuzzi, tennis courts and gymnasium. Such complete facilities enable the technopreneurs to literally walk in with their essentials to set up their businesses. Besides the physical infrastructure and facilities, "incubatees" at OPH-POInT.ic will have access to technology investment funds such as the OP Technology Fund with an initial capital of S$3 million as well as management and marketing expertise, provided by Plan-B through OPH-POInT.ic. Mr Leong Horn Kee, Executive Director of FEO commented, "In setting up OPH-POInT.ic, we hope to provide an environment to help start-up companies jump-start their operations, and translate their technological innovations into commercially viable business ventures in the shortest time possible. By providing the necessary infrastructure and networking facilities, together with an integrated suite of business facilitation services, OPH-POInT.ic's raison d'etre is to assist technopreneurs shorten substantially the time to market for their products and service offerings, thereby improving significantly their chances of success." "In support of the Government's drive in encouraging technopreneurship, OPHL is pleased to work with world-class partners like Arthur Andersen, Oracle Systems and Rajah & Tann, to provide comprehensive and fully-integrated services to nurture incubatees. We believe that our investment in OPH-POInT will serve as a catalyst in attracting budding technopreneurs to our Incubation Centre. This will provide opportunities for OPHL to invest in innovative technology in Singapore and will fulfill OPHL's strategy for growth in the new economy," said Mr Chua Tian Chu, Managing Director and Chief Executive Officer of OPHL. "Our joint venture with OPHL and FEO fulfills one of six strategic thrusts in our POInT Master Plan. POInT provides a comprehensive framework to help high tech companies succeed. POInT stands for Program to Incubate Technopreneurship and is an initiative designed and developed by Plan-B Technologies. POInT is an integrated suite of support comprising investment, human and physical capital to translate technological innovations into commercially viable business ventures. In the joint venture, Plan-B brings the human capital while FEO and OPH contributes the physical capital, allowing hi-tech start-ups to benefit from our respective core competencies. We are extremely pleased that we are able to conclude this joint venture with FEO and OPH and sincerely hope that through this we are able to play our part to promote and develop technopreneurship in Singapore," commented Mr Lim Soon Hock, Chairman of PLAN-B OPHL is part of Far East Organization (FEO), a large and established real estate developer in Singapore, and has access to FEO's portfolio of quality real estate. Both OPHL and FEO are confident that OPH-POInT.ic will open up more avenues of assistance to technopreneurs, contributing to the rapid growth of the IT industry. PLAN-B is one of the three Incubation Management Companies appointed by National Science & Technology Board in April this year. Its programme, POInT (Program on Incubating Technopreneurship) was designed and developed specifically to participate in the Technology Incubator Program to invest in the development of high-tech businesses. Submitted by Jennifer Chang Mei-Ling/Madelyn Kwang Yeit Lam, Secretaries on 18/04/2000 to the SES |
| (Post 9 of 38) 04/19/2000.06:11:00 |
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ORCHARD PARADE HOLDINGS LIMITED The Board of Directors of Orchard Parade Holdings Limited (the "Company") wishes to inform of a change of name of two of its companies, as follows: a. OPH Communications Pte Ltd is now known as "OPH e-Investments Pte Ltd" and is a wholly owned subsidiary of the Company; and b. OPH Electronics Pte Ltd is now known as "OPH POInT.ic Pte Ltd". Previously a wholly owned subsidiary, the Company now has a 20% interest in OPH POInT.ic Pte Ltd through OPH e-Investments Pte Ltd, having divested to FEO Ventures Pte Ltd and Plan-B Technologies Pte Ltd. BY ORDER OF THE BOARD JENNIFER CHANG MEI-LING/MADELYN KWANG YEIT LAM Secretaries Date: 18 April 2000 |
| (Post 10 of 38) 04/19/2000.16:26:00 |
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ORCHARD PARADE HOLDINGS LIMITED Orchard Parade Holdings Limited ("OPH Group") is pleased to announce that its wholly owned subsidiary, OPH e-Investments Pte Ltd, has signed a Memorandum of Understanding ("MOU") to take a 21.98% stake in Net2Room.Com Pte Ltd ("Net2Room"). The other joint venture partners are Aztech Systems Ltd, AVSDotCom. Pte Ltd, Somerset E-Investments Pte Ltd, Raffles Holdings Ltd and Startups.com Pte Ltd, whose shareholdings in Net2Room are as follows: Shareholders Value of Shares Percentage OPH e-Investments Pte Ltd S$100,000 21.98% Aztech Systems Ltd S$100,000 21.98% AVSDotCom. Pte Ltd S$100,000 21.98% Somerset E-Investments Pte Ltd S$85,000 18.68% Raffles Holdings Ltd S$45,000 9.89% Startups.com Pte Ltd S$25,000 5.49% Net2Room aims to equip hotel rooms and serviced apartments with broadband network utilising existing telephone wiring. Net2Room's broadband solution includes equipping hotel rooms and serviced apartments with the necessary PC, hardware and software applications to provide a wide range of value-added services including Internet services. To the business travellers and guests of hotels and services apartments, Net2Room provides hassle-free Internet connection and value-added services. To hotel and serviced apartment owners and managers, Net2Room provides a cost-effective and efficient method of providing Internet broadband access to hotel room and serviced apartments, as well as e-commerce opportunities with a secured payment gateway. As a portal for the business travellers, Net2Room will offer a targetted audience for web advertising, promotion and other Internet businesses. OPH Group, together with its parent Far East Organization ("FEO"), are market leaders in serviced apartments and hotels in Singapore. Included in their stable of properties are Orchard Parksuites, Grange Regency, Nassim Regency, Chancery Grove, Cavenagh Lodge, Leonie Condotel, Riverside View, Central Place, Central Square, Orchard Parade Hotel, Elizabeth Hotel and Le Meridien Changi. "Net2Room is one of our strategic e-investments to grow our hospitality business. By committing the combined stock of OPH Group's and FEO's premier serviced apartments and hotels to the venture, we believe that the Net2Room solution will set an industry standard," said Mr Chua Tian Chu, Chief Executive Officer of OPH Group and Executive Director of FEO. Added Mr Chua, "Our guests, especially the business travellers, will enjoy the convenience of high speed direct access to email and net-surfing without the need to bring a laptop. Equipping our rooms with the Net2Room solution will also facilitate e-commerce and in-room entertainment. Our guests will be able to shop, teleconference and avail themselves of VOIP (voice over Internet protocol) facilities, all in the comfort and privacy of their rooms." Under the joint venture, Aztech will provide the hardware and software technology to Net2Room. AVS will carry out the supply of personal computers, systems integration, installation and maintenance. OPH Group, Somerset E-Investments and Raffles Holdings, being major property and serviced apartment players in Singapore and in the region, will provide necessary market access for Net2Room, while Startups.com will bring business and market alliance to the joint venture. This transaction is not expected to have a material effect on the net tangible assets and earnings per share of the Company for the current financial year ending 31 December 2000. None of the Directors of substantial shareholders of the Company has an interest, direct or indirect in this transaction. BY ORDER OF THE BOARD JENNIFER CHANG MEI-LING/MADELYN KWANG YEIT LAM Secretaries Date: 19 April 2000 Submitted by Jennifer Chang Mei-Ling/Madelyn Kwang Yeit Lam, Secretaries on 19/04/2000 to the SES |
| (Post 11 of 38) 08/26/2000.03:58:00 |
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JOINT VENTURES RELATING TO MINARD INVESTMENT LIMITED AND UNIG PTE LTD The Board of Directors of Orchard Parade Holdings Limited (the "Company" or "OPHL") is pleased to announce that the Company's wholly-owned subsidiary, OPH e-Investments Pte Ltd ("OPH e-Investments") has on 25 August 2000 entered into a Shareholders' Agreement with the following parties: (1) Manigreat Company Limited ("Manigreat"), a subsidiary of Sino Land Company Limited, a company listed on the Hong Kong Stock Exchange; and (2) yhs-ecom Pte Ltd ("yhs-ecom"), a subsidiary of Yeo Hiap Seng Limited ("YHS") to participate in a joint venture company known as Minard Investment Limited ("Minard"). Minard is incorporated in the British Virgin Islands and has an authorised share capital of US$50,000. The issued share capital of Minard will be held by the abovementioned parties in the following manner: Manigreat - 50% yhs-ecom - 25% OPH e-Investments - 25% Minard has in turn entered into a Shareholders' Agreement on 25 August 2000 with (1) eMpire Investments Limited ("eMpire"), a subsidiary of City Developments Limited; and (2) Fresco Investments Pte Ltd ("Fresco"), a company incorporated in Singapore; (collectively, the "Shareholders") to carry on, as a joint venture business, the business of real estate electronic commerce and electronic business through a joint venture company known as UniG Pte Ltd ("UniG"). UniG is incorporated in Singapore and has an authorised share capital of S$150,000,000.00 divided into 150,000,000 ordinary shares of S$1.00 each. UniG has a forty percent stake comprising of 1,000,000 shares of S$1.00 each in Construction Exchange Pte Ltd ("CEPL"). CEPL is incorporated in Singapore and carries on the business of owning and managing an electronic portal known as "cxhub.com". This is a B2B portal which offers services in the areas of electronic procurement, electronic tender, electronic archival and electronic project management for construction projects to be performed in the Pan Asia region (excluding Japan). Minard has also on 25 August 2000, entered into a subscription agreement ("Subscription Agreement") with the Shareholders and certain senior management staff of UniG namely Mr Fan Kow Hin, Mr Andrew Aathar, Mr Koo Shuang Yuan, Mr Goh Wee Hong and Mrs Diana Kim Lian Dawson nee Diana Sng Kim Lian, ("the Management"). Under the Subscription Agreement, the Shareholders and the Management will subscribe for an aggregate of 2,000,000 shares of S$1.00 each ("the Subscription Shares") in UniG at par. Minard will subscribe for 40% of the Subscription Shares, amounting to 800,000 ordinary shares of S$1.00 each at par and for cash. The Shareholders' interests in UniG after completion of the subscription and allotment of the Subscription Shares will be: eMpire 800,000 ordinary shares (40%) Minard 800,000 ordinary shares (40%) Fresco 300,000 ordinary shares (15%) the Management of UniG 100,000 ordinary shares (5%) In the event that the Board of Directors of UniG decides that further finance is needed to fund the working capital requirements of UniG, then such finance may be in the form of equity investment, shareholders' loans or both as the Board of UniG may decide. The above investment is not expected to have any significant impact on the net tangible asset and earnings per share of the Company for the financial year ending 31 December 2000. Mr Philip Ng who holds the following positions: 1. Chief Executive Officer of Far East Organization; 2. Chairman of OPHL; 3. Deputy Chairman of YHS; and 4. Director of yhs-ecom will be co-chairman of UniG to lend his experience and contacts locally and regionally in the real estate sector. At the helm of the management team is Mr Fan Kow Hin as Chief Executive Officer. Mr Fan, who was recently appointed a Director of YHS and yhs-ecom, brings with him wide experience in the areas of strategic transformation, growth through business alliances, market expansion and new businesses. Supporting him will be a team of professionals with vast expertise and experience in various fields. Save as disclosed above, none of the directors and substantial shareholders of the Company has any interest, direct or indirect in the above transaction other than as follows: 1. OPHL is a substantial shareholder of YHS. 2. Far East Organisation Pte Ltd, a company whose shareholders and directors are Mr Ng Teng Fong and his wife Mdm Tan Kim Choo, is also a substantial shareholder of YHS and a majority shareholder of OPHL. 3. Mr Ng Teng Fong, is also a majority shareholder of Tsim Sha Tsui Properties Ltd ("TSTP"), a company listed on the Hong Kong Stock Exchange. TSTP is a majority shareholder of Sino Land Company Ltd. BY ORDER OF THE BOARD JENNIFER CHANG MEI-LING MADELYN KWANG YEIT LAM Submitted by Jennifer Chang, Company Secretary on 25 August 2000 to the SGX |
| (Post 12 of 38) 08/30/2000.02:50:00 |
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Clarification Announcement Further to the announcement made by Orchard Parade Holdings Limited (the "Company") on 25 August 2000, in relation to the participation in the joint venture arrangement relating to UniG Pte Ltd, the Company wishes to clarify that UniG has a fifty percent stake in Construction Exchange Pte Ltd and not a forty percent stake as inadvertently announced. BY ORDER OF THE BOARD Jennifer Chang Mei-Ling Madelyn Kwang Yeit Lam Submitted by Jennifer Chang Mei-Ling, Company Secretary on 29/08/2000 to the SGX |
| (Post 13 of 38) 09/09/2000.02:08:08 |
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Orchard Parade H1 net loss 9.993 mln sgd vs profit 17.123 mln
SINGAPORE (AFX-ASIA) - Orchard Parade Holdings Ltd six months to June 2000 results: Net loss - 9.993 mln sgd vs profit 17.123 mln Sales - 118.138 mln sgd vs 101.619 mln Pretax loss - 7.845 mln sgd vs profit 24.483 mln Opg profit - 17.023 mln sgd vs 12.020 mln Loss per share - 2.85 cents vs EPS 5.58 cents Interim div - nil vs 0.5 cents In a statement, it said it does not expect the second half to improve as the "current financial year is one of rationalisation and consolidation." The absence of writebacks of provisons for its property investment in the previous half year resulted in a pretax loss of 7.845 mln sgd in the first half. The hospitality division, however, is expected to improve due to higher occupancy rates for the second half, it said. Orchard Parade said it will be launching the Blissville, a condominium project in Bukit Timah at the end of this year, boosting development profits from 2001 onwards. |
| (Post 14 of 38) 09/12/2000.01:52:48 |
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DJ MARKET TALK/SG/KL: Orchard Parade May Fall On 1H Loss
Source : Dow Jones 08:19 11/09/2000 [Dow Jones] SINGAPORE: Shares of Orchard Parade (O10) could slip on disappointing 1H results; it posted net loss of S$10 million vs net profit of S$17.1 million in same period year ago, although revenue rose 16% to S$118.1 million. Property and hotel company says it doesn't expect 2H results to improve as it will be rationalizing and consolidating its operations for most of year; shares down 0.7% Friday to 70 Singapore cents.(PUJ) |
| (Post 15 of 38) 10/20/2000.01:53:29 |
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Orchard Parade to issue 195 mln sgd 5-yr bonds
SINGAPORE (AFX-ASIA) - Orchard Parade Holdings Ltd said it proposes to issue 195 mln sgd worth of five-year secured bonds with a coupon rate of 5. 375 pct per annum, payable semi-anually. Citicorp Investment Bank Singapore Ltd is lead manager for the bond issue, which will be listed on the Singapore Exchange. Orchard Parade said the bonds will be senior to all existing and future unsecured obligations. The bonds are secured by legal mortgage of Orchard Parade Hotel, it said. Orchard Parade said the proceeds from the bond issue will be used to re-finance existing borrowings and for general working capital. |
| (Post 16 of 38) 10/20/2000.03:33:22 |
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S$195, 000, 000 SECURED FIXED RATE BONDS
The Board of Directors of Orchard Parade Holdings Limited ("OPHL" or the "Company") is pleased to announce that the Company proposes to launch a S$195 million secured fixed rate bond issue (the "Bonds") and in connection therewith, the Company has appointed Citicorp Investment Bank (Singapore) Limited to act as the lead manager. The Bonds will have a maturity of five years and bear a coupon rate of 5.375 per cent. per annum, payable semi-annually. The Bonds will rank pari passu as a single class without any preference or priority among themselves. The Bonds will rank senior to all other present and future unsecured obligations (including subordinated obligations and priorities created by law or the trust deed) of the Company from time to time outstanding. The Bonds will be secured, inter alia, by a legal mortgage over the piece of land known as Lots 653/656, 659 and 769 of Town Subdivision 24 comprised in the Certificate of Title Vol. 85 Fol. 122, Vol. 121 Fol. 86 and Vol. 190 Fol. 191 respectively, together with the building erected thereon known as No. 1 Tanglin Road, Orchard Parade Hotel, Singapore 247905, and any other buildings erected thereon. The proceeds from the issue of the Bonds will be used to re-finance certain existing borrowings and for the general corporate purposes of the Company and its subsidiaries. An application will be made for the quotation and listing of the Bonds on the Singapore Exchange Securities Trading Limited. BY ORDER OF THE BOARD Submitted by Jennifer Chang Mei-Ling, Madelyn Kwang Yeit Lam, Secretaries on 18 October 2000 to the SGX |
| (Post 17 of 38) 11/30/2000.22:48:03 |
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PROPOSED S$195, 000, 000 SECURED TERM LOAN FACILITY
The Board of Directors of Orchard Parade Holdings Limited (the "Company") is pleased to announce that the Company has accepted an offer from Citibank, N.A. and/or its affiliates to arrange a term loan facility for an amount of S$195,000,000 on a fully underwritten basis (the "Facility"). The Facility will be used to re-finance certain existing borrowings and for the general corporate purposes of the Company and its subsidiaries, and is in lieu of the proposed S$195,000,000 secured fixed rate bonds (the "Proposed Bonds") announced by the Company on 19 October 2000. The Company understands that the Proposed Bond issue was well received. Nevertheless, in the course of due diligence, it was decided that the Facility would be a more appropriate instrument of funding. This decision to change the form of funding is driven purely by a legal technicality. The arranger of the Proposed Bonds, Citicorp Investment Bank (Singapore) Limited, accepts the Company's decision not to proceed with the Proposed Bond issue. The Facility will be secured by, inter alia, a legal mortgage over the piece of land owned by the Company and known as Lots 653V/656A, 659X and 769W of Town Subdivision 24 comprised in the Certificate of Title Vol. 85 Fol. 122, Vol. 121 Fol. 86 and Vol. 190 Fol. 191 respectively, together with the building erected thereon known as No. 1 Tanglin Road, Orchard Parade Hotel, Singapore 247905, and any other buildings erected thereon. Submitted by Jennifer Chang Mei-Ling, Company Secretary on 30 November 2000 |
| (Post 18 of 38) 11/30/2000.23:44:15 |
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Orchard Parade to raise funding via term loan facility instead of bond issue
SINGAPORE (AFX-ASIA) - Orchard Parade Holdings Ltd said it has decided to raise the 195 mln sgd funding it needs to re-finance certain existing borrowings via a term loan facility fully underwritten by Citibank NA, instead of a bond issue as announced last month. "The company understands that the proposed bond issue was well received. Nevertheless, in the course of due diligence, it was decided that the facility would be a more appropriate instrument funding. This decision is driven purely by a legal technicality," it said. The facility will be secured by a mortgage on Orchard Parade Hotel. |
| (Post 19 of 38) 12/02/2000.01:46:18 |
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Orchard Parade May Rise On New Loan
Source : Dow Jones 01/12/2000 08:34 [Dow Jones] SINGAPORE: Orchard Parade Holdings (O10) shares likely to open higher on news it will take S$195 million term loan arranged by Citibank; loan will replace earlier proposed issue of same amount in secured fixed rate bonds intended to refinance certain existing borrowings and for "general corporate purposes" of company. Shares closed 6.5% lower at 58 Singapore cents on thin volume.(SHG) |
| (Post 20 of 38) 12/02/2000.01:52:59 |
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Orchard Parade Up After S$195M Loan
Source : Dow Jones 01/12/2000 10:36 [Dow Jones] SINGAPORE: Shares of property and hotel group Orchard Parade (O10) up 3.5% at 60 Singapore cents in razor-thin trade on news it will take S$195 million term loan arranged by Citibank to refinance certain existing borrowings and to use for general corporate purposes. New loan reflects bank's confidence in company despite stagnant property market, traders say.(AXH) |
| (Post 21 of 38) 04/04/2001.23:43:17 |
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Clarification Announcement
Further to the announcement made by Orchard Parade Holdings Limited (the "Company") on 30 March 2001, the Company wishes to clarify the following:- (a) Segmental results for the "Property Development Division" The decline in operating profit before taxation and interest for the Property Development Division of $34.9 million or 69.6% from $50.2 million in 1999 to $15.3 million in 2000 was due mainly to a reduction of $17.9 million of write back for provision in property diminution and an increase of $8.3 million in our share of losses in Raffles Square project in Shanghai, China. These two items alone account for 75% of the $34.9 million decline in operating profit. The remaining difference mainly reflects the erosion in profit margin. The increase in turnover was due to higher sales recognition and does not necessarily correlate directly to the operating profit. We have commented on both the lower write back of property provisions and the losses incurred in the Raffles Square project under paragraph 7(a) of our announcement. (b) Exceptional items The exceptional item relates to provision made in respect of the diminution in the Group's quoted equity investment. Submitted by Jennifer Chang, Company Secretary on 4 April 2001 |
| (Post 22 of 38) 04/19/2001.21:40:28 |
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AMENDMENT OF UNAUDITED FULL YEAR FINANCIAL STATEMENT AND DIVIDEND ANNOUNCEMENT
On 30 March 2001, the Board of Directors of Orchard Parade Holdings Limited ("OPHL" or the "Company") announced the unaudited full-year financial statement on consolidated results of the Company for the financial year ended 31 December 2000 (the "OPHL Accounts"). Also, on 30 March 2001, the Board of Directors of Yeo Hiap Seng Limited ("YHS"), an associated company of OPHL, announced their unaudited full-year financial statement on consolidated results of YHS for the year ended 31 December 2000 (the "YHS Accounts"). On 18 April 2001, YHS announced that consequent to advice on its tax position relating to the asset revaluation reserve prior to April 1997, the Board of Directors of YHS had decided not to make a provision of S$32 million previously made in the YHS Accounts for possible tax on the asset revaluation reserve of the land at The Sterling Project owned by a subsidiary of YHS (the "YHS Announcement"). Arising from the reversal of the said provision, the YHS Accounts were amended in the manner stated in the YHS Announcement. Consequently, the OPHL Accounts are amended by: 1. Group (i) Improving the "Operating profit as a percentage of issued capital and reserves at end of year" in item 3(b) for the latest year from a negative 5.81% to a negative 5.67%. (ii) Increasing the "Net tangible asset backing per ordinary share" in item 3(e) for the latest year from S$1.16 to S$1.20. (iii) Improving the gearing ratio in item 7(a) paragraph 3 from 1.53 to 1.50 at year end. (iv) Increasing the "Associated companies" in item 10 (Balance Sheet) for the latest year from S$310,405,000 to S$322,738,000. (v) Increasing the "Net assets" and "Total shareholders equity" in item 10 (Balance Sheet) for the latest year from S$492,639,000 to S$504,972,000. (vi) Increasing the "Capital reserve" in item 10 (Balance Sheet) for the latest year from S$250,026,000 to S$251,797,000. (vii) Improving the "Retained profits" in item 10 (Balance Sheet) for the latest year from a negative S$111,778,000 to a negative S$101,216,000. Submitted by Jennifer Chang Mei-Ling and Madelyn Kwang Yeit Lam, Secretaries on 19 April 2001 |
| (Post 23 of 38) 04/30/2001.17:54:49 |
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Research reproduced with permission from Lum Chang
Residential Property Sector Residential property prices fell by another 4% in 1Q2001 Mon 30 Apr 2001 Comments Residential Property Sector Should not come as a surprise to the market……… The flash estimate of a 3.7% decline in residential property prices reported at the beginning of the month comes fairly close to the official 4% drop just announced. As such, we do not expect the market to react to the URA data. Expect prices to decline by another 10% to 15% for the rest of the year…… With sentiment remaining fragile amidst the uncertain economic global outlook and weak stock market performances, further price decline seems inevitable. Also, if there is no pick up in buyers’ sentiment, we may continue to see the rate of price decline accelerating further over the next few quarters. All in we now expect prices to decline by another 10% to 15% for the rest of the year. Bulging supply becoming a concern…… The other factor weighing against the property market would have to be the growing supply of unsold properties which has now increased by 12% this quarter to 18,563, comparable to that at the end of 1997 just before the full impact of the crisis was felt. Maintaining short term "Neutral" and long term "Overweight"…… As for property stock performances, we do not expect there to be significant downside for their stock prices as we are of the opinion that much of the negativities surrounding the property market is already in the price but neither do we expect any material upside performance as we do not believe that there will be any major catalyst to draw investors back to property stocks. Thus, we are "Neutral" on the residential property sector in the near term. However, over the longer term we are maintaining our "Overweight" stance given the sound economic infrastructure that Singapore has put in place with buyers’ affordability expected to remain relative intact, which should bode well for long term private housing demand. Office Property Sector Price decline may have been attributed to sale of DBS Securities Building…… Although rentals continued to increase, prices of office space fell during 1Q2001. The drop in capital values according to some market sources may have been attributed to the sale of the 999-year leasehold DBS Securities Building. "Neutral" towards the Office Property sector…… Going forward, although the slowing economy may have some adverse impact on office demand and thus prices, we believe that the limited supply of office space coming onto the market over the next 3 years would probably give some support to prices and prevent any further severe erosion. We thus expect prices of office space to hover at current levels. We are now "Neutral" towards the Office Property sector. Retail Property Sector Maintaining "Neutral" position…… Despite the limited availability of retail space, prices of retail space have been flattish for the first quarter of the new year. This is probably attributed to the uncertainty surrounding our economy given the slowdown in the US economy. Going forward, we expect price rises to be further capped and may even see a slight reversal of trend with prices coming off marginally. Maintaining our "Neutral" stance. Industrial Property Sector Maintaining "Underweight" stance here…… The slowing economy and the potential supply of industrial space coming onstream will continue to weigh on the Industrial Property sector and as such we are maintaining our "Underweight" position on the Industrial Property sector. |
| (Post 24 of 38) 05/03/2001.23:34:47 |
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Very boring,dull,sleepy counter. Many years back it was such a good performer. I am going to sleep. Good Night.  |
| (Post 25 of 38) 05/21/2001.20:08:05 |
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CLARIFICATION ANNOUNCEMENT
Pursuant to Clause 9A(10)(2)(a)(i) of the Listing Manual, the Board of Directors of Orchard Parade Holdings Limited (the "Company") informs that the aggregate value of transactions conducted pursuant to the shareholders' mandate (approved by shareholders of the Company in the Extraordinary General Meeting held on 2 October 1997) during the financial year ended 31 December 2000, was nil. Submitted by Jennifer Chang Mei-Ling and Madelyn Kwang Yeit Lam, Secretaries on 21 May 2001 |
| (Post 26 of 38) 12/04/2001.16:20:06 |
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Somebody accumulating. Unusual volume. |
| (Post 27 of 38) 12/04/2001.16:24:13 |
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no lah ... it is because property "in play". |
| (Post 28 of 38) 02/25/2002.02:16:55 |
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Public housing to reduce to 70% and private homes will double to 30%. However, this is likely to result in higher demand for private homes in the medium to short-term as since the anti-speculation measure in mid-90's, land supply for private housing has declined significantly and also a halt in the construction of HDB homes. The shortage of housing will become severe as pent-up demand caused by this change in the ratio will impact quickly perhaps in the middle of this year. Many private home projects which were delayed have seen speedier construction activity as developers are gearing up to cope with the possible influx in demand. The normally sedated construction projects at Bukit Timah is now seeing busy construction to completion so that the developers can swing into other projects before the launch of the next land sales. |
| (Post 29 of 38) 03/18/2002.08:55:51 |
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ORCHARD PARADE HOLDINGS LIMITED
Announcement Pursuant To Clause 1006(4) of The Listing Manual Pursuant to Clause 1006(4) of the Listing Manual of the Singapore Exchange Securities Trading Limited, the Board of Directors of Orchard Parade Holdings Limited (the "Company") wishes to announce the sale of a unit in the development known as "Seasons View" to a relative of a director of the Company. Seasons View is developed by OPH Marymount Limited, a wholly owned subsidiary of the Company, and is situated along Marymount Road. The development received its temporary occupation permit in August 2000 and its certificate of statutory completion in September 2000. As at 31 December 2001, only 3 units remained unsold. On 7 March 2002, an option was signed by Mr Cheang Weng Seng and Mdm Lim Swee Lin Patricia for the purchase of Unit 20-03 of Tower 2 in Seasons View for a consideration of S$1,233,000. The sale price of $454.48 per square foot for Unit 20-03 represents a 15.94% discount off the prevailing list price for the unit, but a premium of 0.83% over the price of $450.75 per square foot for a similar unit sold in December 2001. Mr Cheang is a relative (as defined Clause 1006(4) of the Listing Manual) of a director of the Company. The Board of Directors of the Company has reviewed the terms and conditions of this transaction and are satisfied that the terms and conditions of this sale are in the best interest of the Company and its minority shareholders. The Audit Committee of the Company has also reviewed and approved the sale and has satisfied itself that the terms are fair and reasonable and in the best interest of the Company and its minority shareholders. The approval of the Company's shareholders is not required in this instance. BY ORDER OF THE BOARD Submitted by Jennifer Mei-Ling Reid, Madelyn Kwang Yeit Lam, Secretaries on 16 March 2002 to the SGX |
| (Post 30 of 38) 03/26/2002.09:09:13 |
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ORCHARD PARADE HOLDINGS LIMITED
OPHL TRIMMED LOSS IN FY2001 DESPITE HIGHER PROVISIONS Main Board listed property and hospitality group, Orchard Parade Holdings Limited ("OPHL") today reported that it has trimmed its after-tax losses in FY2001 by $1.8 million to $26.8 million, despite a property provision of $5.9 million. "This is very encouraging, given the extremely challenging environment experienced by both the property and hospitality businesses in the past year" said the Managing Director of OPHL, Mr. Chua Tian Chu. Despite the slowdown in corporate and leisure travel towards the last quarter of 2001 and the prevailing recession, the Hospitality Division was able to maintain its turnover and profitability. This was mainly attributed to higher revenue per available room at Orchard Parade Hotel and Albert Court Hotel as a result of higher room rates achieved through sustained marketing efforts and greater focus on the corporate clientele. Central Square apartments continued to perform well with higher average rental rates, supported by occupancies in the high 80s. The Group's interest on borrowings was reduced by $6.3 million from $34.7 million to $28.4 million. This was achieved through repaying some of the loans, refinancing certain debts and divesting its 20% stake in the Shanghai Raffles Square project in China. As a result, group borrowings was reduced from $755.2 million in 2000 to $633.5 million in 2001. The gearing ratio has thus improved from 1.50 times in 2000 to 1.36 times in 2001. With the recovery of the hotel industry, the Group will continue to focus aggressively on the high-yield corporate customers. It will be proceeding with converting/adding more rooms at the Albert Court Hotel, so as to achieve economies of scale for the property. To improve the marketability of The Blissville, a freehold residential project, the design and layout are being enhanced. Mr. Chua is cautiously optimistic about the outlook for the Group and expects its performance to be better this year. "The operating environment of the Group's core businesses has gone through some challenging times. However, with the upward revision of the official forecast for the Singapore economy to 1% - 3%, the positive impact of the off-budget measures and the prevailing low interest rates, we expect the property market to recover with increased sales activities in 2002," he added. Submitted by Jennifer Mei-Ling Reid, Madelyn Kwang Yeit Lam, Secretaries on 25 March 2002 to the SGX |
| (Post 31 of 38) 05/08/2002.17:38:20 |
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ORCHARD PARADE HOLDINGS LIMITED
Notice Of Annual General Meeting NOTICE IS HEREBY GIVEN that the Thirty-Fourth Annual General Meeting of Orchard Parade Holdings Limited will be held in Antica V, 6th Floor, Orchard Parade Hotel, 1 Tanglin Road, Singapore 247905 on Thursday, the 30th day of May 2002 at 11.30 am for the following businesses: ORDINARY BUSINESS 1. To receive and adopt the audited accounts for the financial year ended 31 December 2001 and the reports of the directors and auditors thereon. (Resolution 1) 2. To sanction the amount of $297,000 proposed as directors' fees. (Resolution 2) 3. To re-elect Mr Philip Ng Chee Tat as Director under Article 98. (Resolution 3) 4. To re-elect Mr Cheng Hong Kok as Director under Article 98. (Resolution 4) 5. To re-appoint Messrs PricewaterhouseCoopers as auditors for the ensuing year and to authorise the Directors to fix their remuneration. (Resolution 5) 6. To transact any other business which may properly be transacted at an Annual General Meeting. SPECIAL BUSINESS To consider and, if thought fit, to pass the following Ordinary/Special Resolutions with or without modifications: 7. ORDINARY RESOLUTION "That pursuant to Section 161 of the Companies Act, Cap. 50 approval be and is hereby given to the directors to issue further shares in the Company at any time to such persons, upon such terms and conditions and for such purposes as the directors may deem fit, provided always that: (a) where the shares are to be issued to existing shareholders in proportion to their then shareholdings in the Company, the aggregate number of shares to be issued pursuant to this resolution shall not exceed 50 percent (50%) of the issued share capital of the Company for the time being; (b) where the shares are to be issued otherwise than to existing shareholders in proportion to their shareholdings in the Company, the aggregate number of shares to be issued pursuant to this resolution shall not exceed 20 per cent (20%) of the issued share capital of the Company for the time being; and (c) the aggregate number of shares to be issued under sub-paragraphs (a) and (b) of this resolution shall not exceed 50 percent (50%) of the issued share capital of the Company for the time being, such authority shall remain in force until the conclusion of the next annual general meeting of the Company or the expiration of the period within which the next annual general meeting is required by law to be held, whichever is earlier, unless previously revoked or varied by the Company in general meeting." (Resolution 6) 8. ORDINARY RESOLUTION "That approval be and is hereby given for the purposes of Chapter 9A of the Listing Manual of the Singapore Exchange Securities Trading Limited for the Company, its subsidiaries and target associated companies or any of them (excluding Yeo Hiap Seng Limited, a company incorporated in Singapore and whose issued shares are listed on the Singapore Exchange, and its subsidiaries) to enter into any of the transactions falling within the types of interested person transactions as set out in the Company's circular to shareholders of the Company dated 10 September 1997 (the "Circular") with any party who is of the class of interested persons described in the Circular, provided that such transactions are carried out in accordance with the guidelines and procedures of the Company for interested person transactions as set out in the Circular. Such approval shall, unless revoked or varied by the Company in general meeting, continue in force until the conclusion of the Company's next Annual General Meeting, and the Directors be and are hereby authorised to complete and do all such acts and things (including executing all such documents as may be required) as they may consider necessary, desirable, or expedient or in the interests of the Company, as they may think fit, to give effect to the foregoing." (Resolution 7) 9. SPECIAL RESOLUTION "That the Articles of Association of the Company be amended be deleting the existing Article 105 in its entirety and substituting therefore the following new Article 105: 105. The Directors may meet together either in person or by telephone, radio, conference television or such similar communication equipment or any other form of audio, audio-visual, electronic or instantaneous communication by which all persons participating in the meeting are able to hear and be heard by all other participants, for the despatch of business and adjourn and otherwise regulate their meetings as they think fit and that a quorum for such teleconference meetings shall be the same as the quorum required of a Directors' meeting provided under these Articles. A resolution passed by such a conference shall, notwithstanding that the Directors are not present together at one place at the time of conference, be deemed to have been passed at a meeting of the Directors held on the day and at the time at which the conference was held and shall be deemed to have been held at the registered office of the Company, unless otherwise agreed, and all Directors participating at that meeting shall be deemed for all purposes of these Articles to be present at that meeting. Questions arising at any meeting shall be determined by a majority of votes. In the case of an equality of votes the Chairman shall not have a second or casting vote and the resolution in question shall not be carried. A Director may, and the Secretary on the requisition of a Director shall, at any time summon a meeting of the Directors." (Resolution 8) BY ORDER OF THE BOARD Secretaries JENNIFER MEI-LING REID MADELYN KWANG YEIT LAM Singapore 8 May 2002 Notes: 1. A member of the Company entitled to attend and vote at the above meeting is entitled to appoint one or two proxies to attend and vote in his/her stead. A proxy need not be a member of the Company and where there is more than one proxy, the proportion (expressed as a percentage of the whole) of his shareholding to be represented by each proxy must be stated. 2. If a proxy is to be appointed, the form must be deposited at the Registered Office of the Company at 14 Scotts Road #06-01, Far East Plaza, Singapore 228213 not less than 48 hours before the meeting. Note to Ordinary Resolution 4 Mr Cheng Hong Kok, if elected, will continue to serve as an independent member of the Audit Committee. Explanatory Notes on Special Business to be Transacted Ordinary Resolution 6 The proposed Ordinary Resolution 6, if passed, will empower the Directors of the Company from the date of the above meeting until the next annual general meeting or the expiration of the period within which the next annual general meeting is required by law to be held, whichever is earlier, to issue shares in the Company up to and not exceeding in aggregate 50 percent of the issued share capital of the Company for the time being for such purposes as they consider would be in the interest of the Company, subject to the limits contained in Ordinary Resolution 6. Ordinary Resolution 7 The proposed Ordinary Resolution 7 is to renew the mandate to allow the Company, its subsidiaries and target associated companies (except Yeo Hiap Seng Limited) or any of them to enter into certain interested person transactions with persons who are considered "interested persons" (as defined in Chapter 9A of the Listing Manual of the Singapore Exchange Securities Trading Limited). Please refer to the Circular for details. Special Resolution 8 The proposed Special Resolution 8 is to amend the Company's Articles of Association to enable Directors to take part in meetings by means of telephone, audio, audio-visual, electronic or such similar communication equipment. This will facilitate the attendance and participation by Directors at meetings even though they are not in Singapore. Under the Code of Corporate Governance, listed companies are encouraged to have such a provision in their Articles of Association. Submitted by Jennifer Mei-Ling Reid, Secretary on 8 May 2002 to the SGX |
| (Post 32 of 38) 05/31/2002.09:40:13 |
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ORCHARD PARADE HOLDINGS LIMITED
Resolutions Passed At 34th Annual General Meeting The Directors of Orchard Parade Holdings Limited ("the Company") are pleased to announce that at the 34th Annual General Meeting ("AGM") of the Company held earlier today, all the ordinary and the special resolutions as set out in the Notice of the AGM dated 8 May 2002 were passed. Submitted by Jennifer Mei-Ling Reid, Madelyn Kwang Yeit Lam, Secretaries on 30 May 2002 to the SGX |
| (Post 33 of 38) 09/24/2002.20:33:49 |
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ORCHARD PARADE HOLDINGS LIMITED
Proforma Half Year Financial Statement And Dividend Announcement Pls view announcement here. |
| (Post 34 of 38) 06/03/2003.19:20:31 |
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Slowly creeping up... from very low liquidity to some liquidity.. few hundreds done, previously hardly much trades a day.
See HOURLY CHART below. |
| (Post 35 of 38) 06/03/2003.19:22:56 |
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Daily chart, sudden surge and breakout.
What is happening? |
| (Post 36 of 38) 06/03/2003.19:27:49 |
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Fundamentally, besides the high NTA of $1.24, can't see much light at the end of the tunnel for this counter.
Current ratiop is dismal, debt to equity is dismal, making losses ever since 2000, NTA falling year after year.... blah blah... WHat is happening there? |
| (Post 37 of 38) 02/08/2005.12:17:05 |
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This could be the major turnaround after nearly
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| (Post 38 of 38) 02/08/2005.12:19:45 |
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Let me start up the forum thread again, after 1.5yrs since Pipipapipu last posted
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