Sing Holdings

[8ALEX8]

Hi all there, i've vested in this company recently. Btw, why is the revenue recognised and collected different? If it's recognised, shldnt it be in the accounts alrdy?

[Behappyalways]

FYI

Revenue recognition and collection are different......

If you look at 2Q2013 report you will notice that it has $664m worth of development properties but the company has only 2 plots of land(punggol EC($170m) and Robin($176m)) worth about $350m and yet to be launched. So where does the remaining $310m($664m-$350m)(yes they will be collecting $310m....^^) comes from? From the yet to be collected but already recognised revenue of The Laurels.....

Another example is EC. On Page 11, company reminds that revenue from sale of units in the Punggol project will not be recognised until upon issuance of the Notice of Vacant Possession after the TOP is obtained. Yes revenue will be a one lump sum instead of % of completion for EC.

2Q Annoucement says only 4% will be recognised upon TOP...

As at the date of this announcement, approximately 98% of the units in The Laurels project have been sold, amounting to contracted sales value of about S$700.0 million. Of this, approximately 96% had been recognised as revenue. The Group targets to obtain TOP for this development by 3Q2013, upon which, the remaining 4% of the contracted sales will be recognised. As such, the Group expects a lower profit for the next quarter.

Hi all there, i've vested in this company recently. Btw, why is the revenue recognised and collected different? If it's recognised, shldnt it be in the accounts alrdy?

[8ALEX8]

May i know what is TOP? Dont really get it when reading it online

[Behappyalways]

Temporary Occupation Permit

http://www.ura.gov.sg/lad/HBG/progressPayments.htm

May i know what is TOP? Dont really get it when reading it online

[8ALEX8]

so how does the TOP actually affects in anyway? like if its earlier or later date

[Behappyalways]

(strange...no news on waterwoods EC.......)

Strong demand for SkyPark Residences EC
http://www.channelnewsasia.com/news/sing...45498.html

From the Edge on JBE's Skypark Residences

.....developers who have won EC sites can only launch the new project 15 months after the acquisition date or upon completion of the piling and foundation works, whatever is earlier.

Typically, piling works take 12 months to complete, estimates Lam. However, even if a developer has a three-month headstart to launch an EC project by completing the piling works first, there's the construction cost to be incurred. Piling usually accounts for about 15% of the construction cost. " So, there's little incentive for most developers to complete the piling works first," explain Lam.

[Behappyalways]

762 applications?

http://robinwam.wordpress.com/2013/10/10...pp-closed/

[kbl]

Update: The Laurels September 2013
Cumulative Units Sold to-date: 225
Median Price ($psf) in the Month: 0
Units sold in the month: 0
Cumulative Units Launched but Unsold: 4
Total Number of Units: 229

https://www.ura.gov.sg/realEstateIIWeb/p...rch.action

[Behappyalways]

ECs (The Latest Five ECs)

Update: The Forestville September 2013
Cumulative Units Sold to-date: 372
Median Price ($psf) in the Month: 733
Units sold in the month: 27
Cumulative Units Launched but Unsold: 281
Total Number of Units: 653


Update: Twin Fountains September 2013
Cumulative Units Sold to-date: 345
Median Price ($psf) in the Month: 745
Units sold in the month: 6
Cumulative Units Launched but Unsold: 73
Total Number of Units: 418


Update: Ecopolitan September 2013
Cumulative Units Sold to-date: 348
Median Price ($psf) in the Month: 806
Units sold in the month: 14
Cumulative Units Launched but Unsold: 164
Total Number of Units: 512


Update: Lush Acres September 2013
Cumulative Units Sold to-date: 333
Median Price ($psf) in the Month: 794
Units sold in the month: 24
Cumulative Units Launched but Unsold: 47
Total Number of Units: 380


Update: Sea Horizon September 2013
Cumulative Units Sold to-date: 317
Median Price ($psf) in the Month: 818
Units sold in the month: 317
Cumulative Units Launched but Unsold: 178
Total Number of Units: 495

[old friend]

any news on URA Master Plan 2013?

Thank you very much!