Wee Hur Holdings

[Xiaosaint]

ACQUISITION OF LAND FOR PROPERTY DEVELOPMENT IN AUSTRALIA IN THE
ORDINARY COURSE OF BUSINESS

1. INTRODUCTION
The Board of Directors of Wee Hur Holdings Ltd. (the “Company” and together with its subsidiaries, the “Group”) wishes to announce that Wee Hur (Buranda) Pty Ltd, a
wholly-owned subsidiary of the Group, has acquired a plot of land located at Woolloongabba, Brisbane, Australia (the “Land”) from an unrelated and independent party (the “Acquisition”).

2. RATIONALE FOR THE ACQUISITION
The Acquisition is in the ordinary course of the business of the Group. The Acquisition is in line with the Group strategy to venture into overseas property development.

3. INFORMATION ON THE LAND
The land is located at Buranda, Woolloongabba, Brisbane of Australia with land area of 16,946 square meters. According to the preliminary Development Approval in place, the land can be potentially developed into a mixed development with predominantly residential components and complemented with retail and commercial components.

4. PURCHASE CONSIDERATION
The total purchase consideration for the Acquisition is AUD51,290,106 (equivalent to approximately S$55,163,000 (the “Purchase Consideration”)) is arrived at on an arm’s length basis between a willing seller and a willing buyer. The Purchase Consideration will be wholly satisfied in cash and funded by internal resources.

5. FUTURE ACQUISITION
The Group will, in due time, acquire an additional 2,194 square meters of land for AUD5,209,894 (equivalent to approximately S$5,603,000). This will bring the total acquisition cost to AUD56,500,000 (equivalent to approximately S$60,766,000) and total area to 19,140 square meters. This future acquisition is necessary as it forms part of the intended development under the preliminary Development Approval.

6. FINANCIAL EFFECT OF THE ACQUISITION
The Acquisition is not expected to have a material impact on the earnings per share and net tangible assets per share of the Group for the current financial year ending 31 December 2014.

7. DIRECTORS OR CONTROLLING SHAREHOLDERS’ INTEREST
None of the Directors or controlling shareholders other than through their shareholding interest in the Company has any interest, direct or indirect, in the Acquisition.

Comments: Wow! wholly funded by cash and internal resources? Does that might mean we won't get a big "ang pao" early next year?

-Vested-

[RAYMOND]

ACQUISITION OF LAND FOR PROPERTY DEVELOPMENT IN AUSTRALIA IN THE
ORDINARY COURSE OF BUSINESS

1. INTRODUCTION
The Board of Directors of Wee Hur Holdings Ltd. (the “Company” and together with its subsidiaries, the “Group”) wishes to announce that Wee Hur (Buranda) Pty Ltd, a
wholly-owned subsidiary of the Group, has acquired a plot of land located at Woolloongabba, Brisbane, Australia (the “Land”) from an unrelated and independent party (the “Acquisition”).

2. RATIONALE FOR THE ACQUISITION
The Acquisition is in the ordinary course of the business of the Group. The Acquisition is in line with the Group strategy to venture into overseas property development.

3. INFORMATION ON THE LAND
The land is located at Buranda, Woolloongabba, Brisbane of Australia with land area of 16,946 square meters. According to the preliminary Development Approval in place, the land can be potentially developed into a mixed development with predominantly residential components and complemented with retail and commercial components.

4. PURCHASE CONSIDERATION
The total purchase consideration for the Acquisition is AUD51,290,106 (equivalent to approximately S$55,163,000 (the “Purchase Consideration”)) is arrived at on an arm’s length basis between a willing seller and a willing buyer. The Purchase Consideration will be wholly satisfied in cash and funded by internal resources.

5. FUTURE ACQUISITION
The Group will, in due time, acquire an additional 2,194 square meters of land for AUD5,209,894 (equivalent to approximately S$5,603,000). This will bring the total acquisition cost to AUD56,500,000 (equivalent to approximately S$60,766,000) and total area to 19,140 square meters. This future acquisition is necessary as it forms part of the intended development under the preliminary Development Approval.

6. FINANCIAL EFFECT OF THE ACQUISITION
The Acquisition is not expected to have a material impact on the earnings per share and net tangible assets per share of the Group for the current financial year ending 31 December 2014.

7. DIRECTORS OR CONTROLLING SHAREHOLDERS’ INTEREST
None of the Directors or controlling shareholders other than through their shareholding interest in the Company has any interest, direct or indirect, in the Acquisition.

Comments: Wow! wholly funded by cash and internal resources? Does that might mean we won't get a big "ang pao" early next year?

-Vested-

[RAYMOND]

You will receive your "ANG PAO" next year, Wee Hur has $262.5 million cash.

[Xiaosaint]

SINGAPORE: As laws were passed on Tuesday (Jan 20) to introduce a licensing regime for foreign-worker dormitories with at least 1,000 beds, questions were raised as to whether enough was being done to regulate smaller dormitories, leaving the welfare of workers residing there at risk.

The newly-passed framework, which takes effect six months from now, means operators of larger dormitories must meet licensing conditions covering security, public health and social and recreational activities for the residents.

A Commissioner of Foreign Employee Dormitories will be appointed, and will have the power to direct investigations into whether a dormitory is up to scratch, suspend or revoke licences, and in situations where there is immediate danger or risk to the residents, direct an operator to take the necessary action.

The Commissioner will also have the power to order operators to restrict the entry and exit of dorm residents if there is a serious health threat or risk, or if there is a risk that incidents outside and within Singapore – including civil unrest, hostilities, war, and elections – could generate ill-will or hostilities among or between residents. Officers appointed as dormitory inspectors will also have the powers to enter, search and collect evidence from premises.

Proprietors and operators caught running an unlicensed dormitory could be fined up to S$500,000, or jailed up to two years, or both. If they flout the licensing conditions, they could be fined up to S$50,000, or jailed up to one year for each breach or both.

Dormitory Association of Singapore president Kelvin Teo told TODAY that most of its members are aware of the new regulations.

CONCERNS RAISED

During the debate on Tuesday, some Members of Parliament (MPs) questioned why the new laws excluded the smaller operators, and how the authorities decided on the threshold of 1,000 or more beds.

Mr Gan Thiam Poh (Pasir Ris-Punggol GRC) noted that similar problems could arise, regardless of a dormitory’s size.

Responding to the MPs’ concerns, Manpower Minister Tan Chuan-Jin said the threshold will cover all existing and upcoming purpose-built dormitories, which will allow the authorities to factor these new requirements upstream.

“It doesn’t mean the rest of the space (is) not being regulated, they are,” he said. “Existing regulations continue to be there, they continue to be important, they continue to cover a wide-range of concerns that we have today and they will continue to be looked at and strengthened over time.”

There are currently about 50 purpose-built dormitories, with a maximum capacity of 200,000 beds.

On the licensing regime, Ms Irene Ng (Tampines GRC) raised concerns over whether the move would not only isolate workers from the rest of the community but result in these mega-dormitories becoming restrictive places for foreign workers to live, confining them with the strict rules governing their hours and behaviour.

“It is important to guard against the danger of the purpose-built dorms becoming more like a prison or a labour camp, rather than a temporary home for guest workers,” she said.

Ms Foo Mee Har (West Coast GRC) also cautioned that the new laws may “inadvertently encourage discrimination and prejudice against foreign workers”, or even restrict their opportunity to assimilate.

In response, Mr Tan said it would be wrong to associate the steps taken to make dormitories safer and to meet the needs of residents with xenophobic sentiments.

“The Government’s longer-term view is that the accommodation needs of Work Permit Holders are best met in such dormitories where there are self-containing living, social and recreational facilities,” he said.

-TODAY/cy

Well, I guess this does not really affect Wee Hur's Dormitory Business since their Tuas View Dormitory already have the necessary facilities.

[Xiaosaint]

Termination of JV Agreements pertaining to Proposed Investments in Huai’an

The JV agreements pertaining to the proposed Investments in property development projects in Huai’an, Jiangsu Province have been terminated on 2 February 2015 as the proposed investment did not take off.

Personally, I am glad the proposed investment did not take off. Don't really think now is the time to invest in China's property market.

-Vested-


Sent from my iPhone using Tapatalk

[noon]

It show the management is shrewd and not proceed when things don't feel right. too often many companies mount on tigers that they could not get off and get hurt badly

[Curiousparty]

Had one bought Wee Hur at July 2014, one would have still been under water until today .

How is it possible for Wee Hur to trade above its NAV ?

Is its recurring income from dormitory business recurrent for 10 years and beyond ? Max is only 3 + 3 ?

[Curiousparty]

Any idea why Wee Hur is still dropping while CD ? Any bad news coming

[$wise]

No idea if there is any bad news.
I collected almost a million Wee Hur shares, ave price about 38 cts, in the last two mths, hoping to time myself for its awesome FY result and make a quick gain, knowing that it's confirm to be a record breaking FY result. I studied the dates of the past year announcement so as to time my selling.
I also noted CES announcement will be a few days earlier.
When CES result turned out to be a pleasant surprise,with revised PE on about 2.2 ,yet a discount to NAV, I knew it's going to be hard on my Wee Hur , trading at 40cts (above book). I knew there was no time to waste, knowing that there not likely any SGX list company is could to match, I started switching.
When the my expected date of announcement for Wee Hur was due without announced, I dumped all mine and was responsible enough to promptly update my friends whom have bought with my opinion. Just made a marginal profit, way lesser below my expectation.
Indeed (perhaps two days later) Wee Hur's turned out to be a record breaking FY result with the 4Q below expectation.
The share price reacted according to the latter. As I recalled, I last read it at 38 cts.
I am sincerely sorry if my confession hurts anyone, it's just a real life story..
The fact is, "Sometimes, it really pays off to be early ".
There was an old saying : " It is better late than never. "
But I say, " it is not late at all but I was too early. "

[greengiraffe]

U are not investing but engaging in short term trading...

Long term investors will perform thorough due d and won't anyhow long in the first place let alone sell based on timing or watching other companies...

No idea if there is any bad news.
I collected almost a million Wee Hur shares, ave price about 38 cts, in the last two mths, hoping to time myself for its awesome FY result and make a quick gain, knowing that it's confirm to be a record breaking FY result. I studied the dates of the past year announcement so as to time my selling.
I also noted CES announcement will be a few days earlier.
When CES result turned out to be a pleasant surprise,with revised PE on about 2.2 ,yet a discount to NAV, I knew it's going to be hard on my Wee Hur , trading at 40cts (above book). I knew there was no time to waste, knowing that there not likely any SGX list company is could to match, I started switching.
When the my expected date of announcement for Wee Hur was due without announced, I dumped all mine and was responsible enough to promptly update my friends whom have bought with my opinion. Just made a marginal profit, way lesser below my expectation.
Indeed (perhaps two days later) Wee Hur's turned out to be a record breaking FY result with the 4Q below expectation.
The share price reacted according to the latter. As I recalled, I last read it at 38 cts.
I am sincerely sorry if my confession hurts anyone, it's just a real life story..
The fact is, "Sometimes, it really pays off to be early ".
There was an old saying : " It is better late than never. "
But I say, " it is not late at all but I was too early. "