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Tuan Sing and Rich Capital Acquires Peak Court for S$118.88M

SGX-Mainboard listed Tuan Sing Holdings Limited and Rich Capital Holdings Limited have successfully acquired Peak Court, a freehold residential site at 333 Thomson Road for S$118.88 million by way of a collective sale tender.

Peak Court, a 35-year-old development comprising a 4-storey block with a total of 20 maisonette units, presently occupies the 57,378 sq ft land area. Based on the plot ratio of 1.4 and an estimated gross floor area of about 80,329 sq ft, the purchase price of the site works out to about $1,558 psf per plot ratio. The Thomson-Novena area is sought after for its proximity to highly popular schools, Orchard Road, Central Business District and lifestyle & medical facilities. Sitting on elevated grounds, the site offers unobstructed views across the Thomson precinct and is within proximity to the Novena MRT and the upcoming Mt Pleasant MRT of the Thomson-East Coast Line.

Tuan Sing and Rich Capital’s shareholding in the joint venture company is 70% and 30% respectively. The partners expect to complete the acquisition in August 2018 and will work on redevelopment for a launch in 2019.

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If you like Tuan Sing Holdings, check out SP Corporation Limited. It's cheaper and owned by Tuan Sing.

Stay home and stay safe, everyone,
(06-08-2020, 08:41 AM)¯|_(ツ)_/¯ Wrote: [ -> ]Halted

Stay home and stay safe, everyone,

Tuan Sing to divest Robinson Point for S$500m

PROPERTY developer Tuan Sing Holdings is proposing to divest Robinson Point for S$500 million, the mainboard-listed firm announced in a bourse filing. Tuan Sing expects to realise a gain of about S$128.3 million on the sale. The proceeds may be recycled to fund committed investments, retire existing debts and fund general corporate and working capital needs.

The divestment of Robinson Point is completed and the company has recognized the profits upon disposal.

NAV has increased. Performance in other segments has been improving as well especially its industrial services, this probably explains why the company share prices have been increasing in the past few months due to the re-ratings with increased earnings.
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