Hock Lian Seng

[GFG]

Bring up this thread....

Recently announced wining of project over S$100Mil, but any buddies know how the sales of the Skywood, Ark@Gambas and Ark@Kaki Bukit?

Sales for skywood not good, according to caveats lodged, only ard 50 units out of 420 units launched are sold
Their partner, king wan, recorded some losses from their property division in their latest FY14Q3 results, I am assuming that comes from the skywoods project

The ark at gambas and kb though, are doing very well
Gambas is almost fully sold, and it's launched earlier
Both of these project are recorded via the COC method according to accounting rules, so I am expecting a big profit boost in FY 15Q1 when they TOP
Already, they are recording costs incurred such as commissions.

Honestly though, there are few earnings drivers for FY14.

Their marina coastal expressway and gali batu projects are completed, with minimal if any, revenue left. The changi project will only contribute after FY14.

My worry is that hls is still not GREEN AND GRACIOUS BUILDER certified. After FY14, those not certified will not get the license to tender BCA contracts.
I have emailed management about this but have yet to receive a reply

(Vested 600lots)

I did mention about this almost a year ago.