No updates thus far except for the Annual General Meeting's presentations listed uploaded on SGXnet. Attended the meeting at St. Regis with two friends. The place looks beautiful, and Mr Po mentioned the location cost is only 5% more costly compared to previous AGM location.
Mr Po mentioned that Pollux Properties Indonesia and Pollux Properties Singapore are managed separately, and they are distinct brands although they share the same logo. There are no plans to integrate both brands together. Maybe RTO is not in their plans.
There is no dividend policy for Pollux Properties for now, and maybe not in the pipeline.
Louis Residences has been delayed for too long, and the addition 2 months of delay was due to regulatory requirements. As for the lease, the previous attempt by the management failed. So with 21 years left, the depreciation per year would be around 5%.
Maybe I'll stop loading for now since property is not looking bright. Valuations might have some corrections...
With regards to Koh Wee Meng, I doubt he has sold his shares away - judging by the trend of volumes.
Perhaps, he parked it under Hong Leong Finances.
The Pinnacle Apartment & Condotel ~ Progress Development!
http://pinnaclesemarang.com/pinnacle-sem...juli-2014/
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Google Translate
Pollux Properties with PT. PP and Posco E & C Indonesia proven commitment to working on projects with always keep the schedule that had been developed. Basement, a concrete wall around the pool, ground floor, and the foundation has done throughout June. The execution of the entire basement area targeted for completion by the end of June 2014
In addition to basement, parking floor also is running the process. Half of the targeted parking area completed by the end of July 2014
The Pinnacle Apartment and Condotel provide profitable investment option in the city of Semarang. Apartment and condotel premium is strategically located in Jalan Pandanaran offers moden residential concept in the city center. This project is the right choice in investing.
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Google Translate
To introduce the The Pinnacle Apartment and Condotel to prospective customers in the area, Pollux Properties held Gathering and Dinner in several potential cities.
Gathering and Dinner was held there in May - June 2 to 14 in Kudus, Pekalongan, Tegal, Semarang, Solo and Yogyakarta. At this gathering, Pollux Properties gives an overview of the advantages and benefits of investing in the Pinnacle Apartment and Condotel.
Prospective customers are invited to this gathering to get a lot of special offers which can only be obtained at the time of this event. Special offers include a special discount, facility to be fully furnished and light installment. Customers who conduct transactions on this event will be eligible to win prize directly.
In addition to describing the benefits of The Pinnacle, Pollux Properties also presenting live music entertainment, talk shows on health of heart with doctors from Telogorejo Hospital Semarang, Free blood sugar and blood pressure check, Free Heena Art and Nail Art.
The Pinnacle is located in a very strategic location in the city center to make sure the investment value increased significantly. This feature is completed with luxurious amenities, such as roof top swimming pool, lobby lounge bar, fine restaurant, BBQ area, spa and fitness center, children playground and other premium services. For more info, call 024-865 79 119.
Louis Serviced Residences ~ 96 Units Fully Furnished 4-Star Residences!
https://www.facebook.com/pages/Louis-Ser...k=timeline
Management had submitted application for extension of leasehold to 99 years and are pending approval.
Previous delay were caused by additional requirement by the authority to install additional sprinkle systems in line with the industry standards.
Louis Residences will be ready for operation within these two months and starts recognising revenue for the group. Looking forward to the renewal of leasehold and re-valuation of this asset once operation kicks in.
Singapore Projects ~ Construction Progress Updates!
http://infopub.sgx.com/FileOpen/AGM_Pres...eID=306828
Park Residences Kovan - Fully Delivered In February 2014.
Metro Loft - 34% Completed, Expected T.O.P June 2015
Pavilion Square - 12%, Foundation Work Completed, Starts Construction. Expected T.O.P March 2016.
Garden Park Residences - 20% Completed, Expected T.O.P December 2015
Mayfair Residences - Starts Foundation Work In August, Expected T.O.P June 2016
Berkeley Residences - 15%, Piling Completed, Pile-Cap In Progress. Expected T.O.P December 2015
Louis Havelock - Expected Commencement Of Operation In Two Months