The following is what I'd noted based on my recollection and those who had attended the AGM please correct if there are any errors.
Projects sale status
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The Laurels
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Number of Units Sold: 216 out of 229
Percentage Sold by Units: 94%
Total Revenue: S$635.7 millions
Number of Unit Remains: 13
TOP on Q3 of 2013.
ROI: around 20 to 23% (someone asked the margin of The Laurels)
Question: Why there is a change from Q1 2013 to Q3 2013?
CEO replied that based on contract it is supposed to be completed on Q1 2013. However, due to weather condition and construction progress it is
better to revise to Q3 2013. The sale agreement with property buyer is on Q3 2013.
Cost of construction: 95 millions to 100 millions (Provision of raw material prie increase)
Customer statistics: 50% foreigner and mainly indonesian
Biz Tech @ Aljunied:
===================
Number of Units Sold: 31 out of 89
Percentage Sold by Units: 38,4%
Total Size 65,664 psf
Rental Rate: S$2.8 psf
Selling price at S$640 to S$780
Note: There are additional 2 units of Biz Tech sold since Dec 2011 at the price of $780 psf
Sing Holding will only sell off the remaining at the 'right' price and the company does not intend to lower the remaining units of Biz Tech to increase
sale.
Robin
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200m from steven MRT completed by 2015 to 2016
Total price is S$176.33 million
Total Size: 135,462.4 square ft
land price: S$1,302 psf
Construction Cost: Around $450
Expected ROI: 15%
High end property construction cost is around $450 to $500 psf including show flat cost.
Launched date: Not Known
Reason: Construction of the new development will probably commence after Q1 2013. The company's is to complete the construction by the time the MRT is completed
by 2015 - 2016. However, the main reason of delay I speculate in launching the robin is because of 'reliable' information that Steven MRT station will be an i
MRT interchange for 2 MRT lines and there is a high possibility that the government will revise the plot ratio of the land. This is according to the
question asked by a lady who was a former stock analyst if I'm wrong from BNP Paribus. For your information, the current plot ratio is 1.4 and the neighour
ing unit is 2.1. The possibility of revision of plot ratio will only be known by Feb 2013. (5 Years Master Plan, last master plan was reviewed at 2008)
Question: What is the current earning per share (EPS) of the group as per End of 2011 and how much earning per share projected at the December end of the year 2012?
CFO Reply: Based on the current cash of 77,569 K the EPS is around 400,994,652 shares, the EPS is around 19 cents. The CFO said that based on the average
assumption of $4,000,000 cash inflow per month, by end of the year it will be having an additional cash of S$48,000,000 or 12 cents.
Question: Remuneration of CEO and directors have increase 100% (from 0.75 to 1 million to 1.5 million to 1.75 million) whereas the dividend only increase
33.33% from (0.75 o 1 cent). Are there any plan to enhance the shareholder value via bonus issues, special dividend and share buy back?
Answer: % of Dividend and directors renumerations are 2 independent things. He answered that the remunderation committee based on many factors
to decide the salary for the directors. When the company is doing well, there will be additional bonus paid to the them. As a result, the proportion of
bonus is much higher this year compared to last year.
On the issues of enhancing the shareholder value, the directors are exploring the options of measures to enhance shareholder value when the result is good
including using bonus share and special dividend like during FY 2007 with the issue of special dividend. However, CEO that share buyback is unlikely to be
happened because of 2 reasons: 1. Property development bussiness required a large amount of cash to pay contractor or buy land 2. Share buyback will decrease
liquity of the share and artifically prop up the share price. Loyal shareholder will suffer in the event that share buyback end when share price drop.
(18-04-2012, 05:08 PM)propertyinvestor Wrote: [ -> ]Seems like got fund managers interested in the counters!
Are you refer to the lady in blue? Based on what I overheard, she was formerly an stock analyst from BNP Paribas and she is now managing some funds? By the way, the guy with her if I'm not wrong was someone from AmFraser. There was a question asked by the lady on the stock coverage of Sing Holding and CEO replied that there was in 2008 by KE and philip security. There is a high chance that there might be coverage of sing holding based on their conversation with CEO.
Just my speculation only.
