Agreed with you.
If one wants to "talk down" a stock, pls use a more solid basis. Give us the link to the legislation, etc.
tks.
(22-05-2015, 04:39 PM)roxhockey Wrote: [ -> ]You stated information as fact that was actually completely incorrect. When i corrected you so that the other posters here are not misled, you now try and twist my words rather than acknowledge you were wrong.
My point is simply: there will not be mass withdrawals of deposits because its simply not allowed. You won't see it from CES, you won't see it from Frasers, or any of the other developers in Australia. You said that there would be, but you were basing that on your assumptiom of what the law is, which was totally wrong.
Your doomsday prophecy is also not shown in the share prices of the Australian decelopers, who should be most impacted by the changes.
I was at the last agm and I found Hoon impressive. Maybe CES is considering promoting him to CEO after a probation period hence no employment from outside co. In fact my gut feel is Hoon is even better tthan Raymond. Certainly sound smart and knowledgeable and talks well too.
(23-05-2015, 12:14 AM)RT Knight Wrote: [ -> ]dont know right or wrong. from my understanding, let say a 800k TM sold, down payment is 80k for 10%. if buyer choose to walk away when complete, buyer lose 80K. if the unit he give up, sold less than 800k later, developer will have right to sue him for the loss.
if the unit sell more than 800k, developer happier, get the 80k and still selling higher price.
with TM buyer who bought quite years back, they are in a good position, which current nearby loction is much higher price than they bought. wondering how many will give up and walk away? even they wlk away, i believe cel can sell higher price. and this is also Mr hoon sharing to me when AGM.
I think I saw some guys asking Mr Hoon during the "coffee break" at the agm. May have seen you. I concur with what you heard. Vaguely remember though. He dispelled concerns regarding risk of buyers "running off".
(23-05-2015, 11:48 AM)vesfreq Wrote: [ -> ] (23-05-2015, 12:14 AM)RT Knight Wrote: [ -> ]dont know right or wrong. from my understanding, let say a 800k TM sold, down payment is 80k for 10%. if buyer choose to walk away when complete, buyer lose 80K. if the unit he give up, sold less than 800k later, developer will have right to sue him for the loss.
if the unit sell more than 800k, developer happier, get the 80k and still selling higher price.
with TM buyer who bought quite years back, they are in a good position, which current nearby loction is much higher price than they bought. wondering how many will give up and walk away? even they wlk away, i believe cel can sell higher price. and this is also Mr hoon sharing to me when AGM.
I think I saw some guys asking Mr Hoon during the "coffee break" at the agm. May have seen you. I concur with what you heard. Vaguely remember though. He dispelled concerns regarding risk of buyers "running off".
not sure if i am the one you mention. btw, attending agm is quite fruitful, manage to exchange information with company management, like the hotel, junction 9, fulcrum, fernvale, perth project, melbourne project, new hq, vietnam business etc.. can understand how the company operate, what is the direction, and whether they act as what they say..
not only that, there are plenty of property counters in SG, some of them are quite similar or having development in the same market like Australia, exchanging information do help in recognize different company capability and also risk management.. especially australia market, where i see quite a number of companies are very conservative, which i think is good
The Straits Times (Singapore)
April 11, 2015 Saturday
Volatile year for hospitality trusts, says DBS Vickers;
Slowing arrivals, increased supply of new hotel rooms will affect sector: Report
______________
According to data provided by the Singapore Tourism Board (STB), arrivals from Indonesia and China in the first two months in 2015 dropped by 16.4 per cent and 3.4 per cent year on year respectively. This followed a 3.1 per cent drop in total arrivals last year, the first decline since 2009.
The drop came after China implemented its Tourism Law in October 2013 which places restrictions on travel agencies selling tours to Chinese consumers. The strong Singapore dollar has also deterred some visitors.
The number of Indonesian visitors will also be weak this year, DBS Vickers said, owing to a 25 per cent cut in seat capacity by low-cost carriers flying from Indonesia to Singapore in the first half of 2015.
As a result, the hospitality sector as a whole has been hit by a 7 per cent year-on-year drop in the revenue per available room (RevPAR) in the first two months this year. Average room rate also dropped 5 per cent in the same period, while occupancy rate dropped 1.5 per cent, STB data shows.
___________
Not sure the impact on CES hotel..
(22-05-2015, 03:23 PM)roxhockey Wrote: [ -> ] (22-05-2015, 01:49 PM)BlueKelah Wrote: [ -> ]it will probably fall more.
with the new tightening of lending in Aus, there will be many buyers who have put down deposit for TM few years back, who will now be unable to get enough financing to settle. Even those with pre-approvals for finance will be affected.
CES probably knew about the new changes, hence quickly selling off their CUB site for a fat profit. But they can't do anything about the demolition site that is to be the TM.
look out for CEL announcing withdrawal of deposits for the TM project. Most contracts will have a "subject to finance" clause that will allow buyers to easily cancel contracts and get their deposit back.
-not vested-
Completely wrong.
Australian subject to finance clauses usually give you 30 days from contract signing to arrange finance. Anyone who fails to settle now would not only lose their deposit, but also be liable to pay the full amount to CES. In the last property crash in Australia (1991) many people were sued by developers to claim amounts owed.
APRA also does not leak upcoming policy changes to Singaporean property developers to allow them to sell their development sites at a profit. This is not some third world corrupt country.
it is a common misconception to many that the “subject to finance” clause is a "get out of jail free card" that can be used by the buyer to easily cancel the contract............
When a “subject to finance” clause ceases to protect a purchaser
http://www.rklawyers.com/areas-of-practi...-kron.html
Putt & Anor v Perfect Builders Pty Ltd [2013] VSC 442
http://www.aicvic.com.au/uploads/news/id...y%20Ltd%20[2013]%20VSC%20442.pdf
(25-05-2015, 09:10 PM)Zip113 Wrote: [ -> ]just saw the update by jeff
http://singaporestockstrading.com/2015/0...firmation/
any thoughts on incorporating technical analysis to look for better entry price for long term investment stocks?
You are new to VB. TA has its own merit, but VB normally don't discuss TA related topics. Please focus on FA for further discussion.
Regards
Moderator
anyone has any update on the TM project?
Not sure how long this would be dragged before the project is called off? Is it technically possible to call off the TM project at this stage?
Not sure the "financial drain" of this delay?
trolling for answers as usual.
anyone has any update on the TM project? NO.
Not sure how long this would be dragged before the project is called off? DUNNO but since potatolover is also an active participant at skyscraper city forum, he should know about this "Nicholas H over at urban.melbourne has just reported they have until Mid-November this year to commence construction" whereby the permit will need to have an application for extension which might/might not be granted.
Is it technically possible to call off the TM project at this stage? YES
Not sure the "financial drain" of this delay? Info should be readily available in financial reports.
Likelyhood CES will flip this site to China company like they did the CUB site is getting higher each day demolition work is not commenced.
-nv-