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Update: Rezi 26 Dec 11
Cumulative Units Sold to-date: 95
Median Price ($psf) in the Month: S$958
Units sold in Dec: 2
Cumulative Units Launched but Unsold: 11
Total Number of Units: 106
89.6 % out of the total number of units.
No unit sold for CITYSCAPE @FARRER PARK
No unit sold LINCOLN SUITES
No unit sold for THE BOUTIQ
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dividend has been cut to half cent. Its balance has been stretched so much as more money has been channeled to associates and joint ventures for more land acquisition, probably interim dividend could be cut to half cent or none.
fund raising is likely as its cash is being consumed.
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Yes, I'm disappointed that the final dividend is cut to half from 1 to 0.5 cent.
Agreed that their balance sheet is stretched due to fund channeled into associates and joint ventures for acquisition of lands. I'm wondering why the company choose to issues cash for this year instead of cash/scrip just like previous 2011 final dividend? Another positive surprise is the company issue 1 for 10 bonus issue, in my view is to "make up" for the lost in final dividend.
As for the possibility of raising fund for shareholders, hopefully their construction arm and progressive sale recognition from their launched properties that started construction (i.e. The Boutiq, Lincoln Suites, Cityscape and Reiz 26) will be able to provide sufficient funds for their property joint venture investments as well as a smaller interim and final dividend.
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I wonder what announcement is pending this trading halt.
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UE also halted....not sure if related.
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hi Egghead,
not related. UE & WBL both halted this morning bcos of the UE EGM today.
http://info.sgx.com/webcoranncatth.nsf/V...900105977/$file/UELEGM_22Feb2013.pdf?openelement
(12-03-2013, 09:17 AM)egghead Wrote: UE also halted....not sure if related.
Not a call to Buy or Sell
Mr Bump: All I Can Smell Is My FEAR
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Thanks kbl...turns out it is a placement of shares.
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I was expecting the price to drop - same as what normally happens after a company does a placement; but it goes up instead. Such is the unexpected behavior of the market.