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The Lee family's holdings has bought shares at 0.37 from the open market. Possibly a vote of confidence from them.

Waterwoods has sold 204 units thus far. Another approx. 70 units and the project will breakeven.
He bought quite a few shares over 19 May, 20 May and 21 May, and he's smart enough to make an announcement only today.
Boss bot total 653,000 shares.
Boss lee knows the intrinsic value of his company. He will be in no hurry to buy up his stock in the market
My dissatisfaction with Sing Holdings is how their JV have wrongly priced/designed so many 4-bedrm EC units. Despite being the "best EC selling unit in March and April", the 4 bedroom complex has not moved- 2 units sold in past 2 months. The 4 bed-room complex's revenue is about $100M at $800PSF valuation. To put it in perspective, Waterwoods is expected to yield a $406M sales revenue assuming overall sales of $800 PSF.

It is fortunate the total cost of the EC project is about $295M - $163M (land), $112M (Construction), $15M (Marketing), $5M (Misc Cost)
The bigger units were probably expected to fetch better prices in a hot market especially from overseas investors. The only thing thing they should have anticipated was the case where property market and demand goes down it will be very hard to sell


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(25-05-2014, 11:08 AM)BlueKelah Wrote: [ -> ]The bigger units were probably expected to fetch better prices in a hot market especially from overseas investors. The only thing thing they should have anticipated was the case where property market and demand goes down it will be very hard to sell


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Good point, but do note Waterwoods is an EC unit so only SC/SPR couples can apply etc. If both are PRs cant buy EC. Secondly, to buy an EC, there is an income ceiling of approx 12k and a TDSR regulation, the marketers at waterwoods were expecting 4 bed rm buyers to be 1) Cash/CPF rich (to pay for the 20% down payment), 2) rich parents who could sponsor their children or 3) couples prepared to gear to their teeth.

The whole lesson highlights the importance of future EC project developers to know they should price most of their units at quantum of $1M or below to move units; despite having to sell their projects at above $800 PSF. Future EC projects at Punggol or Yung Ping, JW ( the consortium of OKP, BBR and others) should take note of this
updates

207 units Waterwoods sold. Left 166 units.


21-May-2014 18:47:39
http://infopub.sgx.com/FileOpen/FORM1_21...eID=298276

26-May-2014 17:59:05
http://infopub.sgx.com/FileOpen/FORM1_26...eID=298752

29-May-2014 18:06:04
http://infopub.sgx.com/FileOpen/FORM1_29...eID=299327


I think this is the unit that they sold when they announced their 1Q interim result

BizTech Centre
$905psf
Contract date Type Unit area (sq ft) Price ($psf) Price ($)
2014-04-28 Factory 958 905 866,950

As of 1Q2014, company has 52,358 sqf of office units valued at cost $27,997m ($535psf)
Share price of Sing Holding is inching up slowly to hit 40 cents again!! Smile Smile. Got a feeling that many of the buddies has already sold their shares to Boss Lee.

Just a short update on Waterwood EC:
210 units is sold and left 163 units or 56.3% sold.

http://www.executivecondominium.sg/Waterwoods.html

still vested
Hi cheeki,

I am still holding. Don't underestimate our buddies holding power

<vested 125 lots>