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people focusing on cash proceeds from Tras and Hoy Fatt.
(31-05-2013, 01:12 PM)opmi Wrote: [ -> ]people focusing on cash proceeds from Tras and Hoy Fatt.

Yea, I guess so. Wonder how many property companies have net cash that is more than market cap? Probably EHL is unique based on such a metric.

The cash level might go up even faster if Grove Residence is not progressive payment (I'm not sure even it is or not). Anyone knows about this?
no more deferred payment scheme already. has to be progressive payments.

landed construction faster than condos???
(31-05-2013, 03:46 PM)opmi Wrote: [ -> ]no more deferred payment scheme already. has to be progressive payments.

landed construction faster than condos???

Could be 100% payment upon sale completion?
where got buyers so good one??? hahah....
That's true. But I guess the construction time needed is pretty short anyway. TOP next year.

(30-05-2013, 05:58 PM)ngcheeki Wrote: [ -> ]FY2013 result is out and the most interesting part is in section 8.

Significant Event Subsequent to the Balance Sheet Date
The disposal by Tras Properties Pte. Ltd., a wholly owned subsidiary of the Company, of the 3 storey commercial buildings at 51, 53, 55 and 57 Tras Street, Singapore for the aggregate consideration of $26.5 million is completed on 28 May 2013.

The disposal by Hoy Fatt Pte. Ltd., 70% owned subsidiary of the Company, of a 6 storey building at 12 Hoy Fatt Road, Singapore 159506 for a consideration of $27.0 million is scheduled to be completed on 25 July 2013, subject to approval by all relevant authorities and buyer successfully completing the sale transaction.

Contingent Liabilities
During FY2013, the Company paid an income tax of $0.25 million in relation to YA2009 arising mainly from a different position adopted by the Company from IRAS with regards to the basis of tax computation. In 2012, IRAS has expressed that it is currently reviewing the Company¡¦s basis of assessing management fee received for YA2009 and subsequent YAs; and in particular, whether to appropriately assess the Company as a normal trading company generating a 105% service income and other passive sourced investment income.
On 7 May 2013, the tax advisor has written to IRAS requesting to allow the Company to recompute the management charge to the subsidiaries retrospectively from YA 2010 and subsequent YAs; and at the same time, to allow the recomputed management charges using the new methodology as deduction to the respective subsidiaries retrospectively from YA 2010 and subsequent YAs. The recomputation methodology is applied with a view of minimising tax leakages of the Group, if any. In view of the early stage of this
process, quantification of the Group¡¦s estimated tax payable, if any, at this juncture is not likely to be meaningful.

http://info.sgx.com/webcoranncatth.nsf/V...A000F1950/$file/EHL-Ann-FullYearResults-FY2013.pdf?openelement

Seems like Bryton House sale completion period of 3 months much faster than Tras Street's 6 months.

Anyone knows who is the other party holding 30% interest in Bryton House?
30% Hoy Fatt owned by someone called Dulat Johan Marcel.
This person is a SG citizen, born in 1974.

Used to be EHL shareholder with a few million shares.

http://webb-site.com/dbpub/positions.asp...537&hide=N

http://sg.linkedin.com/pub/johan-dulat/0/22a/547 <<--- dont know if it is the same person.


Why Tras takes 6 months to complete???!!! Will ask this during AGM.
If not, will have $19m profit to show for latest FY! Show me the money!
(31-05-2013, 06:55 PM)opmi Wrote: [ -> ]30% Hoy Fatt owned by someone called Dulat Johan Marcel.
This person is a SG citizen, born in 1974.

Used to be EHL shareholder with a few million shares.

http://webb-site.com/dbpub/positions.asp...537&hide=N

http://sg.linkedin.com/pub/johan-dulat/0/22a/547 <<--- dont know if it is the same person.


Why Tras takes 6 months to complete???!!! Will ask this during AGM.
If not, will have $19m profit to show for latest FY! Show me the money!

Seems like he was still a shareholder, at least up to 29 Jun 2012 as stated in the AR.
2nd biggest minority shareholder, in fact. With 2.4 mil shares.
Not anymore.
(01-06-2013, 12:18 AM)opmi Wrote: [ -> ]Not anymore.

ic, thanks for the info. He should have made a pile from bryton house sale vs the shares.
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