Wee Hur Holdings

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#11
look like their "en bloc purchase" of ThomsonView is a "No Go" - depending on how mkts swing in the next few months => might even be blessings in disguise

UPDATE ON THE COLLECTIVE PURCHASE OF THOMSON VIEW CONDOMINIUM
The Contract is subject to the Vendors obtaining an Order of Sale from the High Court to sanction the Contract.

The Company understands that the Vendors' application to the High Court of Singapore for an Order of Sale to sanction the Contract was dismissed by the High Court in a written judgment released on 3 September 2013.

below recap of Old News
PUBLISHED SEPTEMBER 06, 2012
Wee Hur's new JV buys Thomson View of $590m
BY CARINE LEE
Wee Hur Holdings Ltd on Thursday said it has acquired Thomson View condominium for $590 million through a newly set up joint venture - Wee Hur-Lucrum Pte Ltd (WHL).

The site, with an existing plot ratio of 2.1, sits on a land area of about 540,314 square feet, making it one of the largest condominiums in land area in Singapore.

The purchase price works out to $712 per sq ft per plot ratio, taking into consideration the estimated differential premium and lease upgrading premium payable for the redevelopment of the site, which is a 99-year leasehold residential property with a remaining term of about 62 years.

The acquisition is subject to terms and conditions such as receiving certain specified approvals from Strata Titles Board (STB), Urban Redevelopment Authority (URA) and Singapore Land Authority (SLA), largely pertaining to being granted a fresh 99-year lease and the permission to redevelop into a condominium development with apartment blocks of up to 24-storeys and a gross plot ratio of 2.1 in accordance with URA's Master Plan 2008.

The group believes the good location of the site - on an elevated ground along Upper Thomson Road directly opposite Thomson Plaza - will be a key attraction for property buyers.

Wee Hur's wholly-owned subsidiary, Wee Hur Development Pte Ltd, will hold a 51 per cent stake in the joint venture, while private equity investment firm, Lucrum Capital Pte Ltd, will hold the remaining 49 per cent
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#12
How does the above No-Go impact on the EPS? tks.
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#13
(04-09-2013, 03:51 PM)Stockerman Wrote: How does the above No-Go impact on the EPS? tks.

sorry, I dun track WeeHur, so can't give you any specific numbers,
note that so far, Company had NOT officially declare that the deal is off yet.

if indeed its a "no go", my GUESS is impact per share will be small, in the forms of overheads expenses+some legal fees incurred..
... but should not exceeds 1c~2c pershr coz Company had over 911m iss shrs.
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#14
10.5% up.. wow
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#15
http://infopub.sgx.com/FileOpen/WHDPress...eID=260853

Quote:
Wee Hur ventures into workers’ dormitory business through new JV

• Group to hold 60% stake in joint venture company, Active System
• JV company, Active System, recently awarded tender by JTC to operate 16,800-bed workers’ dormitory at Tuas South Avenue 1
• Construction of dormitory expected to complete in 2H2014
• With Government’s emphasis on proper management of accommodation for foreign workers, Group is cautiously optimistic on high occupancy of dormitory upon completion

(not vested)
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#16
Anyone vested here or able to provide a RNAV for this counter? Looks like quite a premium to the stated NAV. Is it due to TOPs coming online soon to boost earnings?? Soon to become the king of singapore workers dormitory?
Virtual currencies are worth virtually nothing.
http://thebluefund.blogspot.com
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#17
(29-05-2014, 09:38 PM)BlueKelah Wrote: Anyone vested here or able to provide a RNAV for this counter? Looks like quite a premium to the stated NAV. Is it due to TOPs coming online soon to boost earnings??

Hi Blue Kelah,

This article may aid your understanding

http://www.nextinsight.net/index.php/sto...buy-can-we
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#18
(29-05-2014, 09:48 PM)CY09 Wrote:
(29-05-2014, 09:38 PM)BlueKelah Wrote: Anyone vested here or able to provide a RNAV for this counter? Looks like quite a premium to the stated NAV. Is it due to TOPs coming online soon to boost earnings??

Hi Blue Kelah,

This article may aid your understanding

http://www.nextinsight.net/index.php/sto...buy-can-we

thanks good article, Hehe i did vest some for fun a few months back though due to good dividends...
Virtual currencies are worth virtually nothing.
http://thebluefund.blogspot.com
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#19
Wee Hur’s 1HFY2014 profit to shareholders increases 61% y-o-y to S$13.7 million on higher progressive revenue recognition from residential development projects Proposes interim dividend of S$0.01 per share Group expects Premier@Kaki Bukit to obtain TOP in 3QFY2014 Construction order book of S$301.7 million as at 30 June 2014 to provide project flowthrough FY2017 Phase 1 of Group’s Tuas View Dormitory expected to commence operation in August2014Singapore, 7 August 2014 – Wee Hur Holdings Ltd, (“Wee Hur” or “the Group”) (偉合控股有限公司), a property developer and BCA Grade A1 award winning builder, reported a 61% increase year-on-year (“y- o-y”) in profit attributable to equity holders to S$13.7 million for its half year ended 30 June 2014 (“1HFY2014”).

...

Going Forward

The Group looks forward to a better second half in FY2014 with the TOP of Premier@Kaki Bukit and the revenue from the new dormitory business. Taking a prudent and cautious approach in engaging new business and entering new markets, the Group hopes such new ventures will bring the positive outcomes in future.

Hahaha... I'm happy with the results.
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#20
NOTICE IS HEREBY GIVEN that the Transfer Books and Register of Members of Wee Hur Holdings Ltd. (“the Company”) will be closed on 18 August 2014 for the preparation of dividend warrants.Duly completed transfers received by the Company's Registrar, Boardroom Corporate & Advisory Services Pte Ltd, 50 Raffles Place, Singapore Land Tower #32-01, Singapore 048623 up to the close of business at 5:00 p.m. on 15 August 2014 will be registered to determine shareholders' entitlement to the interim tax exempt (1-tier) dividend of S$0.01 per ordinary share for the financial year ending 31 December 2014 (the “Dividend”).The Dividend will be paid on 25 August 2014 to shareholders registered in the books of the Company on 15 August 2014.In respect of shares in securities accounts with the Central Depository (Pte) Limited ("CDP"), the Dividend will be paid by the Company to CDP which will in turn distribute the Dividend entitlements to holders of shares in accordance with its practice.

I don't quite understand what this mean. Are they going to give out warrants or Dividend or both?
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