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GuocoLeisure

By Dan Stratful

Wednesday 14th March 2012 2 Comments

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GuocoLeisure (NZX: GLL ) was formerly known as Brierley Investments however Sir Ron Brierley retired from the Board in March 2001 and the company has since changed its name to  GuocoLeisure in October 2007.

Today it bears little resemblance to the company it once was and it has a diverse and unrelated range of investments in Hotels (UK), Property Development (Hawaii and Fiji) and Oil and Gas (Australia). GLL’s primary stock exchange listing is in Singapore with a secondary New Zealand listing.

GLL appears to be a mini conglomerate with a diverse range of international investments and it just reported its first half results which showed a profit of US$36 million.

In the first half ended 31 December 2011 GLL reported a 5% fall in revenue to US$190 million, but it did benefit from higher oil prices from its 50% stake in its Bass Strait oil and gas investment.

Hotel revenue was higher but volatility in its Gaming investments meant that gaming revenues fell which led to an overall decline in first half revenue. GLL’s overall strategy is unclear and it does not pay a high level of dividends to shareholders.

Its bizarre investments include 55,000 acres of land in Molokai, Hawaii which it plans to develop at some stage and property assets in Denarau, Fiji, which it is looking to sell.

It has also just struck off a dormant wholly-owned subsidiary incorporated in the British Virgin Islands.

Investors holding shares in GLL probably do so by default through its previous association with Brierley Investments. However the company has long since restructured its assets and direction, and Kiwi investors may want to consider investing in companies that operate closer to home.

Status: SELL

GLL’s shares recently traded at 58c.

For portfolio, sharemarket and fixed income enquires contact:
Dan Stratful at Investment Research Group (IRG)
Authorised Financial Adviser (AFA)
0800 437 8489, 09 304 0232, dan.stratful@irg.co.nz
**A disclosure statement is available, on request and free of charge.


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In accordance with the Financial Advisers Act 2008 (“the Act”) Sharechat is “Class Advice” and any advice or recommendations contained on this webpage is not “Personalised Advice” as defined by the Act. This means Sharechat does not take into account an investor’s particular financial position, financial needs, financial goals, risk profile or asset allocation. Investor’s who require “Personalised Advice” should contact an Authorised Financial Adviser (AFA).

DISCLAIMER: To the extent that any of the content above constitutes advice, it is general advice that has been prepared without reference to investor’s objectives, financial situation or needs. Before acting on any advice, investors should consider the appropriateness of the advice and IRG recommend that investors should obtain appropriate financial, legal and taxation advice before making any financial investment decision. The report is based on information compiled from public information and private research. IRG have completed the report on a best endeavours basis and do not accept any liability of loss or damage. IRG suggest that clients use this as part of a decision making process and check key data before making any investment decisions.
Employees may have an interest in the securities discussed in this report.



Comments from our readers

On 16 March 2012 at 8:23 am Roger said:
It might be a bizarre list of investments but they very much represent the old Brierly Investments - Hotels, Oil Royalites and Hawaii were all part of the line up that was BIL - itself always puzzling conglomerate.
On 16 March 2012 at 5:59 pm R B Allen said:
Have held these shares for years, waiting for the olimpics to show some promise ? Going nowhere.Directors have too account Where are the profits going
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