I refer to an old article of UOL written 2 years ago.
I find the valuation method direct, useful and wanted to apply them.
Under the financial part, i can easily get the following from the UOL’s latest balance sheet (1Q2014)
- Real estate
Development properties: $776.8 million
Investment properties: $3,823.6 million
- Cash and bank balance: $433.4 million
However, i have problem getting the Marketable securities from the balance sheet.
- Marketable securities
43.67% stake in United Industrial Corp Limited: $2,018.3 million
Available for sale financial assets: $852.8 million
Would appreciate if you could guide me to derive the value of $2,018.3 Mil and 852.8 Mil respectively.
The available for sale financial assets is derived from the balance sheet while the 43.67% is derived from the market capitalisation of Untied Industrial Corp (UIC). For example, now UIC’s market cap is $3916.7 million so 43.67% of it is worth $1710.4 ($3916.7 * 0.4367).
Thanks for answering.
I believe the 43.67% of UIC is parked under Investments in associated companies under non-current asset? It did not gave details under the footnote about the 43.67% of UIC. I believe you took the figures from FY2013 annual report?
You can get it from the latest FY2015 (http://www.uol.com.sg/attachments/Publication/uol_annual_report_2015.pdf) Page 12 where they show their interest in UIC which increase to 44.3%
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