Thanks for the info.
In addition, I realise 1 thing; using the parameters of annual household income of 144k, MSR 30%, 30 yr old home loan with annual I/r of 2.6%. A household can only take on an 880k home loan.
Hence Sing holdings is cutting it real tight to sell $1.25 M EC units. The household needs to pay 30% (with cash or CPF) for these type of units
<vested>
Sharp! CY.
144k is actually the upper bound for household income aka if some-one has higher than 144k then he/she will be dis-qualified!
880k loan is also based on upper bound of 30 years loan too.
If EC continue to run away, Gov will further tighten the rules.
Of course, the reverse is true.
A Life not Reflected is a Life not Worth Living.
Doesn't the loan computations take into 13 month, bonuses? I think these are included for private property home loan but not sure for ec...
exactly...smallcaps.
That's why our dear friend use $144k as upper bound (annual salary).
If the annual salary is more than $144k then forget about EC...disqualified.
P.S. minor adjustment for self-employed or commission-based income.
A Life not Reflected is a Life not Worth Living.
(31-12-2013, 08:09 AM)chialc88 Wrote: [ -> ]exactly...smallcaps.
That's why our dear friend use $144k as upper bound (annual salary).
If the annual salary is more than $144k then forget about EC...disqualified.
P.S. minor adjustment for self-employed or commission-based income.
A Life not Reflected is a Life not Worth Living.
I think bonuses are not considered for income ceiling but are considered for home loan...
Yes. Thanks for clarifying smallcaps.
Indeed, there is a Different treatment of bonus for MSR/Loan and income ceiling.
Extracted from HDB website on Income not considered:
Examples of income / allowance that are not considered in the computation of household income are:
1. Rental income
2. Interest from fixed deposit/savings account
3. Alimony allowance (divorce cases)
4. Bonuses
5. Scholarship overseas allowance
6. Income earned from overtime work
7. National Service Allowance
A Life not Reflected is a Life not Worth Living.
Ya it seems if got 13 month plus 2 month bonus, getting a loan close to 1 mil would be possible based on 3.5% interest, more so if got cash to pledge to the bank to boost income...
daily volume just 100-200 lots....imagine the impact on share buyback would be if the company could buy 5% or 20m shares......
at 40cents that would cost $8m ($100m cash in bank now and $160m receivables).
well done management for trying to bring value........well done
(09-12-2013, 08:32 PM)Behappyalways Wrote: [ -> ]I think I have repeated this many times.....there are tools and avenues which are available but not utilised.
(09-12-2013, 07:05 PM)propertyinvestor Wrote: [ -> ]He guaranteed shareholders that the balance sheet will get better and better and he delivered on that. Share price also not boss lee control.
(30-12-2013, 02:32 PM)Behappyalways Wrote: [ -> ]Cost of Robin Plot bought 2 years ago - $176m or 44 cents per share.
Market Cap of Sing Holdings - $160m or 40 cents per share.
Well done "management".......
(30-12-2013, 11:49 AM)cyclone Wrote: [ -> ]As at 31 December 2009 :
Total equity : 146.465 Million SGD.
Number of shares : 400.995 Million.
As at 30 September 2013 :
Total equity : 267.498 Million SGD.
Number of shares : 400.995 Million.
A commendable result.
Borrowed a term from greengiraffee : a wrong term investor.
Btw, I do not see gg in the forum for quite a long time.
Good morning Behappyalways san and every1.
Why not you send 1email to Boss Lee Today and wish them A Happy New Year Too.
A reminder to them that MI are not happy.
Wishing All a Happy, Healthy and Prosperous 2014 New Year!
<vested>
(31-12-2013, 10:54 AM)Behappyalways Wrote: [ -> ]daily volume just 100-200 lots....imagine the impact on share buyback would be if the company could buy 5% or 20m shares......
at 40cents that would cost $8m ($100m cash in bank now and $160m receivables).
well done management for trying to bring value........well done