Keong Hong Holdings

I expect so. The last time I visited the site, only the car park is not quite ready. Anyway, its 1H15 Financial year will end in March 15 and Twin Waterfalls will certainly be able to secure TOP by then.

The main developer FCL reports the progress status of Twin Waterfalls at
http://www.fraserscentrepointhomes.com/c...?projid=22

A property agent reports the sale of Skypark Residences at
http://www.executivecondominium.sg/SkyPa...ences.html

7 more units of Skypark Residences have been sold since 2 December 14. As of 6 January 2015, 349 units have been sold with 157 units available -- 68.97% sold.

For its construction business, the following projects would have been completed between November 14 and January 15:
Paterson 2/Paterson Collection
Terrasse (TOP in Nov 14)
Twin Waterfalls (TOP expected in January 15)
Alexandra Central (Retail space TOP in December 14)
Expansion of the Kooddoo domestic airport (expected to be completed by Jan 15)

Typically the margin is high when the constriction project is close to completion.

I expect the 1H15 results to be reported in May 2015 to be excellent.

Seems like it is a good time to increase holdings in this value stock. Apparently there are little or no transactions below $0.39 for the past weeks. Waiting patiently for sellers to sell me : )

(08-01-2015, 01:48 PM)ValueMushroom Wrote: Seems like it is a good time to increase holdings in this value stock. Apparently there are little or no transactions below $0.39 for the past weeks. Waiting patiently for sellers to sell me : )

I just sold some odd lots of this counters weeks back. Not because it is a bad stock, just trimming my portfolio to a more manageable number.

After 19th January, I bet there will be much more sellers as many of us old investors are still stuck with odd lots from past bonus issue.

Saw the launch of Amore EC at Punggol Central/Edgedale Plains in Straits Times today. Keong Hong has a 15% stake in this development. Booking will start on 17 January 2015.

Indicative prices for different types of units are shown here: http://www.propnex.com/theamore/theamoreprice.html

Based on today's ST advertisement, price starts from $595,000, which could be for the 2 bedroom Type A1a unit of 700 sqft.

I'm a bit worried about this Amore EC project of Keong Hong due to its relatively weak location in over crowded Punggol/Seng Kang area. However good thing is that Keong Hong involvement is only 15%. Let's hope Amore can do well.

Today sellers sold down at $0.37. Managed to grab some : )

Thanks for the tip off! I have studied the company and bought some lots at 37 cents, which looks quite reasonable although the construction industry is highly dependent on Government public spending for this year. This company may go the way of ISOTeam which has done very well so far.

(09-01-2015, 10:58 PM)ValueMushroom Wrote: Today sellers sold down at $0.37. Managed to grab some : )

Hi 5 skyn. I've got keong hong and isoteam in my portfolio as well. Mind sharing your intrinsic value for keong hong and isoteam? Assuming they can maintain the current ratios.

Hi, intrinsic value can be calculated in many ways; I recommend for your reading, Value Investing from Graham to Buffett and Beyond by Professor Bruce Greenwald of Columbia Business School. His view is that we can calculate this value in 3 fundamental ways - the Asset Reproduction Value (ARV, explained in his book), the Earning Power Value (EPV) assuming no growth in future net profits, and EPV with assumed growth (used by Buffett and some others) which he does not advocate and gives very good arguments why so in his book. My estimate of ISOTeam's ARV is 30 cents and EPV is 86 cents based on its FY14 annual report. As for Keong Hong, I'm new to the counter and haven't gotten round to do this computation yet; I bought in because of its high ROE and recent low price, although I note that this ratio has been declining since FY12 albeit to a respectable 20's in FY14. Hope it helps.

(12-01-2015, 10:44 PM)Life is a game Wrote: Hi 5 skyn. I've got keong hong and isoteam in my portfolio as well. Mind sharing your intrinsic value for keong hong and isoteam? Assuming they can maintain the current ratios.

Hi Sykn sure I will take look at the book recommended. Thanks and to share back. My intrinsic value calculation for isoteam is 65 cents and keong hong is 80 cents.