Daejan Investors - DJAN

Daejan Investors - DJAN

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Stock Name Stock Symbol Market Stock Type
Daejan Holdings Plc DJAN London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 8,050.00 01:00:00
Open Price Low Price High Price Close Price Previous Close
8,050.00 8,050.00
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Industry Sector

Top Investor Posts

retsius: NTV I don't think that is likely. The share is in a sector that is completely depressed at the moment. The prospect of a Labour victory in an election and all that brings is affecting the share price badly. Brexit looms over everything as well and affects sentiment. Any large sales will heavily depress it further. It's all smokes and mirrors at the moment, wait until the AGM.o American assets are a substantial proportion of assets, remember that, and as such provide some relief at this time. At the end of the day look at the NAV and look at the SP, to give the investor some cheer. R.
mw8156: article in Mail on Sunday today- seems 71 year old chairman 'Benny' is set to meet with pirc and an institutional investor to discuss composition of the Board and other governance.
konradpuss: Skyship, a few more observations. Highcoft have an 'interesting' portfolio. The out of town retail properties are not in prime locations. As to their in town stuff they have a couple of shops in Oxford. One of the cleverest property funds I know is the Trinity College Cambridge property fund. Three years back they sold all their retail. Now as to management having 'skin in the game' I cannot work this one out. There are two large shareholders, however I do not know if the management is connected to these. To be fair, the pay for the directors is low. All in all, these guys seem to do a reasonable job with a relatively high yielding portfolio that seems to be made up of 'safe' investments. As we know the definition of a safe investment is one that you have not as yet seen the problems with. Now Daejan has a way over remunerated board who have plenty of 'skin in the game'. I am also not encouraged in the fact that another Freshwater company manages the property and charges a fee. The portfolio has some prime assets (Africa House, Stand Palace Hotel and a block on Oxford Street). It also has a large regulated residential tenancy portfolio, much other carp and the highly geared American portfolio. Now a question for you, if you had kept your shares in Daejan purchased fifty years ago and not sold, how well would you have done? I think many investors would do far better if they did not trade so much and bought the best assets they could get hold of and just held them for the long pull. Well it's like comparing Highcroft and Daejan really. Now did you see what I did there?
apollocreed1: Maybe Investors chronicle is planning a write-up about the stock.
walbrock82: One thing about Daejan Holdings investors should note is the net valuation gains grew investment property by 5%, while rental income rose by 1.8%. For more click http://bit.ly/2Luyasa
retsius: Good day all in all,hoping for some more interest tomorrow. The IC does not cover the stock and hence it remains well below the 'radar' of most investors. I believe it now sits at a 45% discount to NAV. American reduction of corporation tax was an unexpected windfall,and they have a very substantial US portfolio now. Must have value, R.
retsius: NTV Yes, very 'steady as she goes results 'which is very reassuring as there are no Trading Statements throughout the year . With the added tax credit of £39.9m the NAV has risen to £111. Cash in bank has risen nicely. These must represent excellent value to any new investor. Very pleased, R.
trytotakeiteasy: retsius - hope you are right. Someone I saw did a presentation a while ago about how the best investors are able to take pain. I.e. hold onto their convictions during difficult times. We have certainly taken a bit of pain here in recent months. I think at a certain point the deep value investors take a look at stocks like these.
trytotakeiteasy: In my view, ST is hopelessly superficial in how he analyses stocks and companies. It is all about the next bit of exciting news, the chart or the valuation. There is no real analysis on whether a company will do well over the long-term. As a result ST has lots of recommendations that go up in the short-term but then fail over the medium to long-term. His Chinese tips were a disaster with many going under. A recent failure is Safestyle. Daejan - yes lets wait for the interim results in just under two months time (end of November). Ex-dividend on the 12th for 63p too. The trouble is that Daejan aren't able to draw in any new investors due to weak investor relations. So when we have a persistent seller the share price tanks. I think with the level of disclosure this only appeals to the deep-value guys. I was looking recently at Grainger and GCP Student Living. Their level of shareholder engagement and transparency is miles ahead.
trytotakeiteasy: retsius - You have more faith in ST than me. He seems to go for faddish stocks that blow up after a while. Lots of his Chinese ones went under. apollocreed1 - I agree that Daejan is efficiently managed. However, it is also a frustrating story for investors. I think I made a mistake here with this stock to be honest. Some issues for me are: - A lack of transparency on the real estate locations. London is over 50% of assets but we don't really know where their holdings are in London. What is the exposure to the City for example? - Annual report lacks depth. Continuing on this front we get very little information from the annual report. This year rents in the UK went down but we weren't really told why. - No real information on succession. We simply do not know what happens when the second generation executives running the company leave. All we are told is that the third generation family members are non-executives. - A lack of investor engagement. I understand this is a family company but that doesn't mean that they can't engage with investors. PPHE Hotel Group and Wilson Sons are both controlled by families. Yet they put out presentations and so forth. In summary I think Daejan is a stock to buy at over a 40% discount and then to sell out when the discount narrows. This is only a share that deep value investors will buy given the lack of transparency, shareholder engagement and lack of clarity on succession. Some thoughts for discussion anyway.
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