Wing Tai's earnings jump on back of completed projects. Profit soared by 122%.
According to CIMB, development income went up on physical completions. 3Q13 revenue and core net profit soared 256% and 122% yoy, respectively, mainly attributed to full recognition of Malaysian project, Verticas Residences upon completion and additional sales of Singapore projects.
Here's more from CIMB:
More units were sold in completed projects, Helios and Belle Vue Residences. Based on URA data, six units of L’VIV and 29 units of Foresque Residences were sold in 3Q13.
In Feb, one unit was launched and sold at ultra-high-end Le Nouvel Ardmore, at a price of S$4,372 psf.
Not vested
More than 200 units sold at Tembusu: sources
SALES at The Tembusu, Wing Tai's condo project in the Kovan area, are said to have crossed 200 units by yesterday evening. The average price for the 337-unit freehold condo is understood to be in the $1,400-1,500 psf range.
http://www.stproperty.sg/articles-proper...s/a/132477
I think Tembusu price is not expansive given its freehold, near mrt status. Few weeks ago it shld be sold out on day 1. Generally suburban buyers still can leverage since they have a hdb asset to back up.
The plot of land which tembusu sits on was acquired by Wing tai at dirt cheap prices 20years ago.
To convert their former HQ site into residential.....already telling you how they feel about property prices.....and not to forget the boss tried to sell its bungalow too ^^
(14-08-2013, 03:10 PM)Behappyalways Wrote: [ -> ]Not vested
More than 200 units sold at Tembusu: sources
SALES at The Tembusu, Wing Tai's condo project in the Kovan area, are said to have crossed 200 units by yesterday evening. The average price for the 337-unit freehold condo is understood to be in the $1,400-1,500 psf range.
http://www.stproperty.sg/articles-proper...s/a/132477
Thank you for your information. By the way, what is your view on Wing Tai? Wing Tai is more diversified and have more stable income sources. I'm expecting an "Ang Po" because of the group founding 50th anniversary!!.
I think the property counters are very much affected by the gov policies. If more FTs are coming in, there will be take up on the units the developers are holding. I think many companies like Capitaland are holding the prices because they think population will ultimately increase, so no worry about the unsold units.
(14-08-2013, 04:37 PM)Behappyalways Wrote: [ -> ]To convert their former HQ site into residential.....already telling you how they feel about property prices.....and not to forget the boss tried to sell its bungalow too ^^
I sold out Sing Holdings to invest in better companies like Tuan Sing
Wing Tai Malaysia, 60.42% owned subsidiary of Wing Tai Holdings has reported a set of good result. This will have positive impact to Wing Tai Holdings. The following is a short summary.
Last Traded price: RM 2.460
Revenue(RM'000): 601,200
Profit PATMI(RM'000):132,056
EPS (Sen):42.07
DPS (Sen): 10.00
NAV per share(RM): 3.2200
http://www.bursamalaysia.com/market/list...ts/1383221
In addition, Wing Tai Holdings 34.87% associate Wing Tai Properties (HK) has also reported the 1HFY2013 result. Though the result looked impressive of HKD1,035.8 million, the majority of the gain is due to fair value gain from their investment properties of HKD 826.1 million. After taking away the fair value gain, the PATMI is still respectable HKD 20 million
http://infopub.sgx.com/FileOpen/eResults...eID=253531
On a separate note, there is a sale of properties, “The Tembusu” to interested persons which are:
(i)Cheng Wai Wing Edmund, a director of the Company;
(ii)Cheng Kar-Yee, Carol (daughter of Cheng Wai Keung, a director of the Company); and
(iii)Cheng Zen-Tak, Kelvin (son of Cheng Wai Keung, a director of the Company).
http://infopub.sgx.com/FileOpen/Announce...eID=253404
