KOP

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#1
A bold statement to make, indeed! Tongue

Jun 8, 2011
KOP Properties upbeat despite slow sales at luxury condo

By Cheryl Lim

DESPITE slow sales at its high-end Hamilton Scotts condominium, luxury property developer KOP Properties will not lower its prices for the Scotts Road project.

Instead, the company will hold out for buyers who are prepared to pay for quality properties, said chief executive Leny Suparman.

In a telephone interview with The Straits Times last week, she expressed optimism about the luxury home sector.

'The only way prices can move is up,' she said. 'If there are two to three more luxury property launches this year, it will start the trend and people will want to come in and get a slice of the action too.'

While prices in the mass market segment have recovered substantially, luxury property prices are still 20 per cent below the pre-crisis peak, Ms Suparman said.

'There needs to be this momentum for the ultra-luxury segment as well - it will be positive for the overall market,' she said.

'There are lots of people with money but when it comes to selling such properties, I believe you need to be able to feel the space before you can decide whether to buy.'

Ms Suparman was speaking after a KOP Properties unit, Hayden Properties, held a 'topping out' ceremony for Hamilton Scotts recently. This marks the final pouring of cement at a property project before completion.

The 30-storey, 54-unit ultra-luxury condo is expected to be completed in the fourth quarter of this year.

In the meantime, it has seen a take-up rate of about 40 per cent - unchanged since last December.

Prices average between $3,600 and $3,800 per sq ft (psf).

KOP Properties said it is in talks with buyers to sell several units in its other development, The Ritz-Carlton Residences.

The project has sold 19 units so far, with the most recent sale in January. Prices for the apartments average between $3,300 and $3,800 psf.
My Value Investing Blog: http://sgmusicwhiz.blogspot.com/
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#2
Developer sees profit in entertainment
Published on May 13, 2014 1:38 AM


Work on KOP's Winterland Shanghai project is expected to begin in the first quarter of next year and be completed by the end of 2018. -- PHOTO: KOP

By Melissa Tan

HOME-GROWN property firm KOP has set its sights on becoming one of Asia's biggest entertainment real estate players, after its reverse takeover of a Catalist-listed entertainment firm.

KOP is known for developing upscale condominiums such as Hamilton Scotts in Orchard, whose units boast "sky garages" that let home owners park their cars next to their living rooms.

But after its reverse takeover of Scorpio East Holdings, the firm now plans to focus on developing large mixed-use projects centred on entertainment, group chief executive Ong Chih Ching said yesterday.

A reverse takeover involves an unlisted business being injected into a struggling listed company.

"The company has enough stature to continue to take on residential and commercial projects, even hotels, so we will continually do that. But the focus is going to be on larger mixed-use entertainment centres... we will invest a lot more in that sector."

Speaking to reporters at KOP's office at The Gateway East, she said it is looking at developing mixed-use projects in key Chinese cities such as Shanghai, Beijing, Guangzhou and Shenzhen.

It is also in talks to develop projects in Jakarta but "there's nothing firm", she added.

The developments will have retail, hotel, residential, office and entertainment components.

Ms Ong, also an executive director at the firm, yesterday said it chose to focus on entertainment real estate for its high returns and as a way to differentiate itself from other developers of more traditional retail space.

Popular entertainment venues can boost the value of other properties around it, given the crowds they draw, she noted. "Once executed well, the returns (from entertainment) are very high."

Executive director Leny Suparman said KOP was also moving towards entertainment real estate because traditional retail projects may find it harder to draw shoppers to brick-and-mortar stores in the near future.

"With technology... the retail scene will go through a very drastic change within the next five years. We have to be slightly ahead of the trend to make sure we are relevant by the time these huge projects are completed in four to five years. It has to be more experiential, whether in arts, culture, theme parks or shows - something you can't get sitting at home."

KOP is developing a $2.8 billion mega winter resort in Shanghai which will feature homes, offices, shops, hotels and leisure facilities such as a theme park, hiking trail and even a beach club.

Construction of Winterland Shanghai is expected to begin in the first quarter of next year and be completed by the end of 2018.

The firm is still in talks with other parties for investments in the resort but will have a controlling stake, Ms Ong said.

Raising its own funds for its Shanghai project was one of the reasons KOP was listing, she said.

KOP will begin trading on the Catalist tomorrow.

melissat@sph.com.sg
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#3
KOP strategic holders:

Han Seng Juan - star broker turned investor
Ong Phang Hoo - younger brother of Lian Beng chairman
Te Kok Chiew - brother in law of Super Group chairman - David Teo
Plus others...

Not Vested
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#4
KOP new valuation price at $0.45/share....soon it will rocket like nothing... now trending upwards $0.305....up up up ...load before too late
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#5
Hi all,

I read about KOP in last week's article of the Edge. Its story sounds interesting and it seems that there is some value waiting to be unlocked. However I was not able to find any financial statement filings in SGX since its RTO to do any analysis. Any buddies can point me in the right direction?
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#6
Hi all,

noted that the price of KOP have been steadily declining the last week till it fell drastically today. Picked up a bit below 20 cents as the owners brought into this RTO at 21 cents. Any thoughts here?
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#7
(15-08-2014, 11:27 PM)enigmack Wrote: Hi all,

noted that the price of KOP have been steadily declining the last week till it fell drastically today. Picked up a bit below 20 cents as the owners brought into this RTO at 21 cents. Any thoughts here?

I thought it was 28.5c which is the compliance placement price?
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#8
(16-08-2014, 01:01 AM)propertyinvestor Wrote:
(15-08-2014, 11:27 PM)enigmack Wrote: Hi all,

noted that the price of KOP have been steadily declining the last week till it fell drastically today. Picked up a bit below 20 cents as the owners brought into this RTO at 21 cents. Any thoughts here?

I thought it was 28.5c which is the compliance placement price?

That was the IPO price when they relaunched the stock after the takeover. From my understanding of the announcement below, KOP group issued out 714,285,714 shares at 0.21 cents to buy over Scorpio, Appendix C

BT Annnocement of KOP RTO

That's my margin of safety when there is no other financial data to calculate the intrinsic value of the stock.
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#9
What if the properties were marked up before they were sold to the company at 21 cents? MOS may not be there then.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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#10
Has the KOP unique strategy worked?

KOP Limited posts 2Q loss of $4.5 million

SINGAPORE (Dec 12): KOP Limited ( Financial Dashboard), the real-estate developer, film distributor and concert organiser, reported a second quarter loss of $4.5 million, compared to earnings of $473,000 a year ago.

In 2Q15 ended Oct, revenue fell 41% to $4.1 million from $6.9 million in 2Q14.

KOP said this was mainly due to a decrease in revenue from real-estate development and investment segment.

The hospitality segment however saw an increase in revenue due to an increase in occupancy and revenue per available room of the group’s resort in Montigo, Nongsa.

KOP said it would continue to grow its property business through new development projects, property acquisitions as well as expansion into other markets.

As part of the group’s strategic restructuring efforts, the group will expand its entertainment business by venturing into the development of real-estate projects which include a lifestyle component, such as entertainment or a MICE facility.

KOP is developing the Winterland Shanghai project in China. The $2.8 billion, 18ha integrated winter resort will feature retail, office, residential and hotel components, alongside entertainment facilities such as a themepark, a hiking trail and a beach club.

As at end Oct, KOP had cash and cash equivalents of $4.4 million.

KOP closed flat at 16.2 cents today.
http://www.theedgemarkets.com/sg/article...45-million
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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