I went to Clark in December 2019. It is a really nice place...

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Cyph

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22/02/21

17:09

Post #: 51222588
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Originally posted by Portfolio: ↑

ok. I have read that. I assume EGP has done a lot more work on it than me but looking through the web you get property like the below at Php 4000 /m2 inside Clark Freeport zone (ours is really just land value at the moment I assume). Now I am no expert on the area so I dont know how comparable this property is but doing the maths:

We have 300,000 m2 at an exchange rate of 0.027 x php 4000 = $32m AUD valuation. This would still be a decent outcome but a valuation like this makes more intuitive sense to me given the deal with Nic. I doubt Vern would have handed him a valuation that was half or a quarter of what the land was worth.

https://www.carousell.ph/p/farmland-for-sale-inside-clark-freeport-zone-1069750367/?t-id=uQOIgYd3ig_1613595465420&t-referrer_browse_type=search_results&t-referrer_request_id=VSKMSn8baDw4z8Ru&t-referrer_search_query=clark%20freeport%20zone&t-referrer_sort_by=highest_price

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I went to Clark in December 2019. It is a really nice place compared to Metro Manila. I think the concept they are building there is really good and if there are jobs available, then Filipinos would be mad not to move there for what seems to be a better quality of life to me - but, their family/friends and social connections may be cut which is very important to them.

If you punch into google maps New Clark City Aquatics Centre and then map it to the destination of Centennial Road, Clark Freeport, Mabalacat, Pampanga, Philippines, you should see it's a 30km, 48 min drive. It's not even close. You cannot remotely compare the two pieces of land.

I'm a holder in EGP, so if we still have it in the portfolio then I hope for our sake SIT does well with this piece of land.

Last edited by Cyph: 22/02/21

SIT Price at posting: 1.6¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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