Warhol Residences ~ July Newsletter!
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http://wrsl.co.id/media/WR-July-2014.pdf
Progress Development W/R Simpang Lima
Development of W / R Simpang Lima showed significant growth. 7th floor structure, completed in the second week in June, 2014 and 9th floor structure which is apartment floor finishes at the end of June 2014.
PT.PP also working on finishing beam and floor plate parker. In addition, working plumbing, including work related to mechanical and electrical, plumbing and installation of rain water on the floor parker was held on the second week in June 2014.
In the third week in June 2014, the brick lightly on the 5th floor apartment began to be installed. In the same week, precast concrete wall structures began to be brought out of the apartment. The next stage after the construction is completed, will be made a mock up of the outside wall on the 5th floor east.
W / R Semarang Simpang Lima is built on an area of 1,200 sqm in a very strategic location in the center of the city of Semarang. The project is planned to consist of 18 floors of apartments.
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Pollux International Property Expo I & II
Pollux Properties ~ International Property Expo organized for the second time on 22 ~ 27 April 2014 and on the Ground Floor Atrium Paragon Mall Semarang. Pollux Expo II was held 28 ~ March 31, 2014 in the Grand Ballroom of Crowne Plaza Semarang.
The projects showcased in the expo include W / R Simpang Lima, The Pinnacle Apartment and Condotel, and the Marquis de Lafayette. The third project is located in a very strategic location in the center of the city of Semarang. In addition to the three projects in
Semarang, Pollux also showcase projects in
Jakarta, Lombok, and Singapore.
One of the projects that received considerable attention from visitors is W / R Simpang Lima. This apartment is located at the end of Jalan Ahmad Yani, close to the heart of Semarang. W / R Simpang Lima offers excellent investment value offering given the high price of land in the area. Strategic location and attractive range of facilities offered by the developers prompted many customers who are interested in investing in the W / R Simpang Lima.
Pollux Properties also show appreciation to customers who make transactions during the expo to provide immediate reward in the form of the Samsung Galaxy Note 3. Properties Pollux commitment in providing the best service for the customer is also seen in an effort to always provide development progress updates on a regular basis. For more info, contact us at 024-865-79119
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AGM information out!
At Senator's Room, St Regis.
More Clues From Chairman's Official Statement! ~ AR2014
http://infopub.sgx.com/Apps?A=COW_Prospe...ny&F=20831
Meanwhile, the Group will continue to explore opportunities in
investment properties locally and other parts of Southeast Asia
such as Indonesia.
In addition, the Group will enter into the serviced residences
sector with the inaugural launch of its Louis Serviced
Residences in the second half of 2014.
More Clues From AR2014!
MR. JAMES KHO CHUNG WAH, CFA
Mr. Kho, 38, was appointed as an Independent Drector of the Company on 29 May 2014. He has over 13 years of investment banking and regulatory experience and has held various senior positions in the investment banking and corporate finance departments of international banks and major local securities houses.
He started his career in the equity markets with the Issuer Regulation Department of Singapore Exchange, where he is involved in the review of listing applications and ensuring compliance of listed companies.
Currently, he is the cofounder and Managing Director of Willan Capital Pte. Ltd. as well as the Executive Director of Pacific Star (Greater China) Pte. Ltd. Mr. Kho has been awarded the CFA Charter and is a member of the CFA Institute. He has obtained his Bachelor of Business (Second Upper Honours) degree from Nanyang Technological University, majoring in financial analysis and minor in applied economics
I agree with Volmax about some corporate action at Pollux being possible. Because the people put in charge and in director seats seem to be too "big" for this small company especially if you think that most of Pollux development projects are already launched and quite well sold. There is no new projects, no new land purchased etc and even Louis is small serviced apartment (I am concerned about its short remainder lease years), so why put so many big shots in the company - that is what makes me suspect about corporate action, but its just a suspicion. I have no proof but thank you Volmax for the constant Indonesian angles. AGM on 25 July at St Regis is rather strange too.. so much money spent on AGM when maybe only 20-30 shareholders will attend?
(09-07-2014, 10:50 AM)Volmax Wrote: [ -> ]Louis Serviced Residences alone is valued at S$56m, much higher than Pollux's market cap. of S$51.1m as of yesterday. Once operation kicks in, Louis Residences valuation will be taken into the book, giving a boost to the total asset.
Based on AR2014, the value of Louis Service Residence accounted for in Balance sheet is S$47.4 million versus the market value of S$56 million, hence the fair value gain is S$8.6 million or 1.38 cents per shares.
The lease of Louis Service Residence is only 21 years left.
It is valued via cash flow method.
I wonder -- would its value drop since we are seeing property sector doing some correction.