ValueBuddies.com : Value Investing Forum - Singapore, Hong Kong, U.S.

Good noon Behappyalways san and all.

look like EC sales slowing down too.

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tipping point I think......Euro and china not good...only US economy is ok......Sing Holdings and Wing Tai should be ok, not much landbank......let's see which johnny come lately developers suffer.....

http://blogs.telegraph.co.uk/finance/amb...t-it-says/

(17-10-2013, 10:32 AM)old friend Wrote: [ -> ]any news on URA Master Plan 2013?

Thank you very much!

Hi I don't think we should call it master plan 2013 but 2014. Public Exhibition for the Master plans are not up yet and normally URA/MND takes a few months after the exhibit before gazetting the MP. Hence expect MP 2014 and not 2013

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(SkyPark is hot.....)

More than three applications for each unit of SkyPark EC in Sembawang
http://www.straitstimes.com/breaking-new...g-20131021



The plans for Woodlands Regional Centre will be fine-tuned and subsequently exhibited with the draft Master Plan later this year following the feedback and consultation.
http://www.asiaone.com/print/News/AsiaOn...04393.html

741 e-applications


SALES LAUNCH OF EXECUTIVE CONDOMINIUM "WATERWOODS"
http://infopub.sgx.com/FileOpen/Waterwoo...eID=260998

It looks like Waterwoods will likely be a sell-out! Has anyone started doing its earnings estimate and EPS impact on Sing Holdings?

They should be cash rich now with revenue collections from The Laurels....so I hope they sacrifice a bit of sales by launching it higher.....anyway by the time the project's TOP it should be fully sold.....and the next 6-9 mths with no new EC launch, they could further increase their sales.....

(04-08-2013, 11:31 AM)Behappyalways Wrote: [ -> ]GFA of 500,000psf including balcony...slight more.....

The news reported that the Ecopolitan EC is 60% sold on its 1st day...around $800psf



https://www.squarefoot.com.sg/trends-and...land-sales

(18-04-2013, 07:16 PM)ngcheeki Wrote: [ -> ]The construction cost for Pungol Edge Condo is S$218.8 psf based on the GFA of 153,999 psf after including the additional 10% balcony allocation. With the land price of $342.58 psf, the total development cost should be around S$600 psf.


http://info.sgx.com/webcoranncatth.nsf/V...10033BDEF/$file/1.Announcement_Award_of_main_contract_Punggol_Field_Walk_AP.pdf?openelement

(24-10-2013, 06:40 PM)dydx Wrote: [ -> ]It looks like Waterwoods will likely be a sell-out! Has anyone started doing its earnings estimate and EPS impact on Sing Holdings?

(24-10-2013, 06:40 PM)dydx Wrote: [ -> ]It looks like Waterwoods will likely be a sell-out! Has anyone started doing its earnings estimate and EPS impact on Sing Holdings?

Here is my non-profession estimation. Since it is an EC, revenue recognition will only happen on TOP date which is expected to be 31 March 2017.

Total Number of Shares ('000) 400,995.00
Average Selling Price (psf) $780.00
Total cost of development (psf) $600.00 ($342.58 (land cost) + 219 (construction cost) + others)
Profit (psf) $180.00
Total profit $91,475,460.00
Sing Holding Stake 70.00%
Net profit attributable to Sing Holding $64,032,822.00
EPS $0.1597

What about tax?

Anyway the market is reflecting (1)zero value of this project since share price now is 43.5 cents hence market value of $173m(400mx 43.5cents) which is equal to the COST of the freehold Robin plot ($176m).

This also meant that the market is also reflecting (2) zero value to the difference in market value and cost of the Robin plot since the plot was bought about 2-3 years ago, (3)the possible increased in plot ratio of the land, (4) the profit resulting from the launch of the Robin project, (5) zero value to the office units since market cap is equal to Robin plot (6) the difference in market value and cost of their office units and (7) the remaining profits from The Laurels.

A company with undervalued assets could remain undervalued for a long time if the company does not realised the market value of their assets but for Sing Holdings, bear in mind that their assets are not static.....meaning that the EC will be launch next week, the Robin site would be launching next year and also most possibly the URA master plan would be out within the next 2 mths and etc

One possible reason for the discount in valuation of Sing Holdings could be due to the management. Market does not like management that seems to reward themselves 'too well' while not doing much to bring about the actual valuation of the company in terms of share price....hence we have what you call VALUE TRAP......

(24-10-2013, 08:42 PM)ngcheeki Wrote: [ -> ]

(24-10-2013, 06:40 PM)dydx Wrote: [ -> ]It looks like Waterwoods will likely be a sell-out! Has anyone started doing its earnings estimate and EPS impact on Sing Holdings?

Here is my non-profession estimation. Since it is an EC, revenue recognition will only happen on TOP date which is expected to be 31 March 2017.

Total Number of Shares ('000) 400,995.00
Average Selling Price (psf) $780.00
Total cost of development (psf) $600.00 ($342.58 (land cost) + 219 (construction cost) + others)
Profit (psf) $180.00
Total profit $91,475,460.00
Sing Holding Stake 70.00%
Net profit attributable to Sing Holding $64,032,822.00
EPS $0.1597

(23-09-2013, 09:49 AM)kbl Wrote: [ -> ]Good Morning Behappyalways san and All

You morning owl>no need to sleep 1

When Company sold Ocean Tower>there was a special dividend of $0.035(one tier tax)+$0.045(less tax). Now The Laurels TOP>will Boss Lee & BD reward shareholders with a similar or higher dividend payout????

http://www.singholdings.com/past-projects.html

Good morning every1.

I am waiting for the releasing of 3Q results.

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