(21-01-2017, 06:00 PM)Scg8866t Wrote: [ -> ]http://infopub.sgx.com/FileOpen/WPSL_ANN...eID=436527
So wheelock say they have no idea for the reason of the surge in price. Either their parent is only doing some initial planning and has not communicated with wheelock directly or it could just be a fluke from the 30% HK macro news.
Either way i dont mind it to tank or surge tmrw. Will stay strict on accumulation only for now at the appropriate level. My view.
Control of Wheelock Marden (the HK listed Company ) was acquired by Sir Y K Pao, the HK Shipping Magnate back in 1985 and for many years "Wheelock" has been under the control of his son-in -law Peter Woo. Since Wheelock Properties ltd ( the Singapore listed subsidiary ) has been under control of Peter Woo for past 31 years and you can expect the dividend payout to remain conservative and unlikely to be generous.
(22-01-2017, 06:42 PM)soros Wrote: [ -> ]Control of Wheelock Marden (the HK listed Company ) was acquired by Sir Y K Pao, the HK Shipping Magnate back in 1985 and for many years "Wheelock" has been under the control of his son-in -law Peter Woo. Since Wheelock Properties ltd ( the Singapore listed subsidiary ) has been under control of Peter Woo for past 31 years and you can expect the dividend payout to remain conservative and unlikely to be generous.
Conservative is relative. Wheelock currently has 31cts per share of cash on hand. Giving out 6cts every year consistently even during the 2009 financial crisis in todays term is closed to 4%. In my view, with such a fortress of a balance sheet that they have and with 76% of their shares owned by the parent, I dont mind treating this as a 4% bond while waiting for them to be privatized.
There are a few clues as to why i think wheelock will ultimately be privatize by its parent in HK. Firstly, they do not have a ceo for quite some time after David died. Means they do not want someone to give directions for wheelock sg. Secondly, they have no more land bank in sg. Thirdly, with such a potential accumulation of cash in their coffeurs and with no new ventures going forward, it makes for an approriate target for its parent to buyout and focus more on their china/hk ventures. My view.
That being said, i might be wrong, but the 4% yield makes it more bearable for the wait.
(22-01-2017, 07:02 PM)Scg8866t Wrote: [ -> ] (22-01-2017, 06:42 PM)soros Wrote: [ -> ]Control of Wheelock Marden (the HK listed Company ) was acquired by Sir Y K Pao, the HK Shipping Magnate back in 1985 and for many years "Wheelock" has been under the control of his son-in -law Peter Woo. Since Wheelock Properties ltd ( the Singapore listed subsidiary ) has been under control of Peter Woo for past 31 years and you can expect the dividend payout to remain conservative and unlikely to be generous.
Conservative is relative. Wheelock currently has 31cts per share of cash on hand. Giving out 6cts every year consistently even during the 2009 financial crisis in todays term is closed to 4%. In my view, with such a fortress of a balance sheet that they have and with 76% of their shares owned by the parent, I dont mind treating this as a 4% bond while waiting for them to be privatized.
There are a few clues as to why i think wheelock will ultimately be privatize by its parent in HK. Firstly, they do not have a ceo for quite some time after David died. Means they do not want someone to give directions for wheelock sg. Secondly, they have no more land bank in sg. Thirdly, with such a potential accumulation of cash in their coffeurs and with no new ventures going forward, it makes for an approriate target for its parent to buyout and focus more on their china/hk ventures. My view.
That being said, i might be wrong, but the 4% yield makes it more bearable for the wait.
good wan 8866
another tidbit is that Wheelock might haf to incur QC payments that they are due for Ardmore 3.
They can of course do a Capland, and sell to Wee or whoever willing to buy.
minor cost involved versus paying the QC charges for any unsold units, after 2 years upon completion.
anyway, WHeelock is flushed with cash, the issue now is how they elect to deploy it the warchest.
Appears after the loss of David Lawrence, they haf really yet to find a man with strong foresight and a midas touch.
so another angle to consider. For info guys. : P
Property listed companies look like having its day finally after many years. Wheelock may retest 2015 high of $1.95.
Boon Wrote:Fuyang Project (Phase 1) Revenue estimate :
For the Fuyang project (雍景山) in the People’s Republic of China (“PRC”), revenue from sale of the development property will be recognised upon the transfer of significant risks and rewards of ownership of the property to the purchasers.
http://www.wtoutiao.com/p/5098uYH.html
http://chuansong.me/n/380601251480
According to the above links:
Phase 1 of Fuyang project is about 100,000 sqm - it had been completed and handed over to buyers in 4Q2016.
Estimated revenue to be recognized in 4Q2016:
= (Average sales price = RMB 9,546 per sqm) x 100,000 sqm / (Exchange rate of 4.8) = about SGD 200 million
_____________________________________________________________________________________________________
Overall, would revenue to be recognised from Panorama (~ 335 m) + Fuyang project phase 1(~ 200m ) + Ardmore Three (???) + Scotts Square (???) exceed 600 m by end of FY2017 ?
I would say close !
Question remains: If cash level reaches a billion, so what? Would DPS be increased?
_____________________________________________________________________________________________________________________________________
天了噜,去年富阳楼市成交额竟然有近200亿元!
http://chuansong.me/n/1484953252023
雍景山 is at 银湖板块, whose property price increased by 20% in 2016.
"从单盘情况来看,绝大部分楼盘的价格还是略有上涨的,银湖片区的楼盘最为典型。野风山和
雍景山均有20%左右的涨幅,富阳主城区的楼盘的涨幅则并不明显,山水国际和百合新城的涨幅均在5%以内"
30 Sept 2015 : 95 units of 191 units launched sold at asp of RMB9,300psm
30 Sept 2016 : 610 units of 634 units launched sold at asp of RMB9,546psm
According to above article, 雍景山 asp for 2016 is RMB10,235.
The possible background for the increased prices in Q42016 could be that in Nov 2016 HangZhou govt announced some property measures to cool the hot property market.
杭州楼市调控二次加码说明什么?
http://cj.sina.com.cn/article/detail/140...0&rfunc=26
富阳 (where 雍景山's 银湖板块 is in) is out of the property curb measure. Dubbed “第九区”. They seemed to have benefited from the curbs in Hangzhou main market as some hot money flowed there instead.
杭州拥有限购豁免权的“第九区”,竟然悄悄开始逆袭?
http://www.kan3721.com/news/show-6728.html
Wheelock has gone ballistic nonstop in the last few days. Perhaps, the market knew something.
Is there an offer being working out for Wheelock minority share holders and what would be a fair deal ? Minimum $ 2.60 ? I think should be more than that. In 2010 when Wheelock privatized Wheelock properties (Hong Kong) and the offer was really good at HK$13.45 apiece, a premium of approximately 143.90% over the last closing price, which was HK$5.33.