Fragrance Group

[pianist]

today announcement of the warchest of prime locations the company has in the pipeline:

In addition to the above, the Group has acquired the following properties recently.
i) Lot 1343W and 1344V TS23 at Hoe Chiang Road – a freehold commercial property
located in CBD area for S$360.0 million. The Group is exploring various
redevelopment options for this property.
ii) Novena Ville – a freehold property situated in a sought after location near Novena
MRT station, for S$131.5 million. It is intended to be redeveloped into a mixed
development for commercial and residential use.
iii) Key Point – a commercial building located at Beach Road for S$360.0 million. This
is a joint venture project with Aspial Corporation Limited and the Group has 50%
interest. The special purpose company is exploring various options including a
commercial development with retail shops and offices or an integrated development
with retail shops, offices and residential units.
iv) Tai Keng Court – a freehold property for S$161.1 million. This is a joint venture
project with Aspial Corporation Limited in which the Group has 60% interest. It is
intended to be redeveloped into a mixed development for commercial and residential
use.

[greengiraffe]

When the whole mkt is trying to reduce share float, Fragrance is busy raising the float - close to 7bn shares post latest bonus.

Still a prop co and a newbie on the bloc that is taking on even higher risks. Definitely better discounts available elsewhere with other more established prop companies.

If you are not in, its probably too late. If you are in, time the exit. Never forget the fates of stock market darlings (Raffles Edu, Midas, Wilmar, Noble....)

[money]

When the whole mkt is trying to reduce share float, Fragrance is busy raising the float - close to 7bn shares post latest bonus.

Still a prop co and a newbie on the bloc that is taking on even higher risks. Definitely better discounts available elsewhere with other more established prop companies.

If you are not in, its probably too late. If you are in, time the exit. Never forget the fates of stock market darlings (Raffles Edu, Midas, Wilmar, Noble....)

haha it seems that management is quite good at "financial engineering". However, the market seems to love it too. They dont really care about the underlying business or the leverage it takes on, they are only interested in whether management will issue a 1-for-1 bonus issue year after year. Should management do a 2-for-1 bonus issue, it may even rise to 70 cents. Amazing...

Yeah i totally agree, if you are in, it is time to exit. If you are not in, you should delete it from yr watchlist

[pianist]

what wrong with its underlying business?

[pianist]

Where is Lot 6219X and 7138M MK25 location? is it the one at tyrwhitt road?

The Board of Directors (the “Directors”) of Fragrance Group Limited is pleased to announce that the
Company’s wholly owned subsidiary Fragrance Realty Pte Ltd (“FRPL”) has commenced legal
proceedings, the details of which are as follows:
FRPL is the legal owner of Lot 6219X and 7138M MK25 (“Property”) and is in the process of
redeveloping the Property. FRPL has found out through its main-contractors that a concrete/brick wall
(“Encroachment”) is sitting on the Property and therefore encroaching onto the Property.
Certain subsidiary proprietors of an adjacent property (“Defendants”) have claimed ownership of the
Encroachment and have refused to remove the Encroachment.
Therefore, FRPL has instituted the legal proceedings against the Defendants and seek, inter alia, the
following court orders:
(a) A declaration that the concrete/brick wall is encroaching onto the Property;
(b) That the defendants be ordered to demolish and remove the concrete wall.
The Company will make further announcements on the updates as and when it is available.

[ValueBeliever]

I not too sure? May be Mr Koh worked very hard to reward himself. 1 of the very few self-made thru sheer hard work as a contractor to rise up to billion dollar status.

My guess is that Fragrance top the lead in all the property counters since 2009! Bonus after bonus and dividend just as generous.

May be thats why brother making a move? He wants to follow big brother eg. but nowhere to turn to as brother bz is pretty complicated.

2nd comes Sim Lian - this Co. is 100% pure execution and strategy. I think shldrs who had held on since the start of crisis if dont panic sell - beat the hell of investing in property!!

3rd - u can guess....everybody is watching... definitely not the big caps property...

[pianist]

Tycoon sues over luxury car 'flaw'

A billionaire's bid to seek more than $1 million in damages from a Rolls-Royce car dealer here over an alleged defect in a $1.4 million Phantom began in the High Court Monday.

Mr Koh Wee Meng, boss of the Fragrance Group, alleges that the high-end luxury car, bought in December 2008, emits noises and vibrates when moving out of a three-point turn.

The 50-year-old said he had complained many times to Trans Eurokars and was assured the problem would be rectified. When no remedy was in sight, he decided to sue the dealer.

"I consider it a defect, I cannot accept it," he said on the stand Monday.

Trans Eurokars said the noise and vibration is a characteristic of the Phantom and cannot be considered a defect.

Each side has engaged expert witnesses to support its case.

Mr Koh is seeking more than $1 million in damages - the difference between the car's purchase price and its scrap value of more than $300,000.

The property and budget-hotel tycoon was ranked Singapore's 15th-richest man by Forbes last year, with an estimated net worth of US$1.25 billion (S$1.54 billion).

"That price was paid for what Rolls-Royce itself claimed was ultimate luxury, pin-drop silence and near perfection," his lawyer, Senior Counsel Davinder Singh, said in his opening statement.

Instead, Mr Koh got "a Phantom plagued by noises and vibrations" when it moved out of a three-point turn, added the lawyer.

Trans Eurokars' lawyer, Senior Counsel Tan Chee Meng, noted that Mr Koh was claiming damages for a car he had driven for four years and which had clocked some 46,000km to date.

But Mr Koh noted that he had complained within three days of taking delivery.

Mr Tan pointed out that between November 2009 and September 2011, Mr Koh had sent the car to the workshop for servicing and other works no fewer than eight times but did not complain about the noise and vibration, and suggested that the issue was "non-existent" during this period.

Mr Koh disagreed.

He replied that since Trans Eurokars was not able to resolve the problem, he saw no point in dragging it up every time he went to the workshop for other issues.

In a statement Monday, Rolls-Royce Motor Cars said it has supported the dealer over the past four years in its dealings with Mr Koh.

"We have not experienced any similar complaint from any other customer anywhere in the world."

A record 39 Rolls-Royce cars were sold here in 2011.

The trial continues.

[Ray168]

Spend so much money and now not happy; some more now spend time to sue... haha .... Money cannot buy happiness..

[brattzz]

Senior Counsel Davinder Singh... Vs Senior Counsel Tan Chee Meng

waos... xiao Lee's lawyer Vs ex-CNB Chief Ng BG lawyer!

[greengiraffe]

I personally think that he probably feels that most operational matters within the company is progressing well hence he can allocate some personal time to attend to finer details in life.

Anyway, with money, one can certainly pursue many different aspects of life. To each his own.

Nice drama for distraction from the usual stock market movements at least for buddies here.