Bukit Sembawang

Re: Bukit Sembawang

Postby behappyalways » Sat Aug 20, 2016 12:05 pm

Bukit Sembawang stirs interest as it moves to unlock land value
http://sgx.i3investor.com/servlets/fdnews/62901.jsp
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Re: Bukit Sembawang

Postby winston » Mon Aug 22, 2016 8:18 am

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Bukit Sembawang stirs interest as it moves to unlock land value

By Zavier Ong

SINGAPORE (Aug 19): Luxury residential property developer Bukit Sembawang Estates is moving to unlock value for its shareholders by converting some agricultural land into residential properties, while resolving a dispute with the Singapore Land Authority (SLA) that dates as far back as 2002.

In its annual report for FY2016 ended March, released on July 8, the company said that it is surrendering its 999-year lease on Lot 12949 MK18, an agricultural land, to receive a 99-year lease with no building restrictions, on which to build a residential development.

Lot 12949A MK18 is located along Nim Road, Ang Mo Kio Avenue 5 and the Central Expressway. The site has an area of 117,000 sqm. Bukit Sembawang has said that it intends to build 167 units of landed houses on part of the plot.

Of course, Bukit Sembawang has more going for it than just the Lot 12949A MK18 land. The company sits on a large land bank, a legacy of its agricultural history, but has tended to move slowly to monetise the value of its land, leading investors to undervalue its shares.

Partly owned by Oversea-Chinese Banking Corp’s Lee family, Bukit Sembawang started life as a rubber planter in 1911. In the 1950s, it began diversifying into development of landed properties by converting its agricultural land into residential developments, and it was listed in 1968.

Since then, Bukit Sembawang shares have gone in and out of favour with investors.

Now, thanks partly to the announcement that it is closer to starting development on a new parcel of land, trading in the stock has been more active over the past month.

Even so, it is still trading below its NTA as at June 30 of $5.09 per share. And, if investors had factored in potential earnings from the plot that is being converted, the stock could have been even more undervalued.

Source: The Edge

http://smr.theedgemarkets.com/article/b ... a-87358173
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Re: Bukit Sembawang

Postby winston » Fri Mar 03, 2017 9:49 am

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Bukit Sembawang a takeover target for investors eyeing Singapore foothold

By PC Lee

SINGAPORE (March 2): DBS Group Research likes Bukit Sembawang Estates as it is a potential takeover target for investors looking to gain access to land in Singapore and boasts of a substantial freehold/999-year lease landbank.

(See also: Bukit Sembawang stirs interest as it moves to unlock land value)

According to an unrated Thursday report, lead analyst Rachel Tan says Bukit Sembawang is the largest owner of land in Singapore, owning more than 2.8 million sf of substantially freehold/999-year leasehold land, of which 75% is undeveloped.

In addition, the group’s Paterson Collection and St Thomas Walk developments in the core central region is expected to do well if launched given the positive sentiment in the luxury residential market.

As at Dec 16, the group has a net cash position $383 million or $1.48/share, implying close to one third of its market cap is backed by cash. In the past two years, it has declared an annual dividend of 33 cents, implying a dividend yield of 7%.

To be sure, Bukit Sembawang’s major shareholder, Lee family of Lee Rubber and OCBC, owns a 44% stake which could be put it up for sale given the family has been in a “divestment” mode in the past few years.

“Given ample liquidity and recent M&A deals in Singapore, we believe that Bukit Sembawang is an attractive prospect for any investor/developer who wants access to land-bank in Singapore,” says Tan who has a potential $7.55 target for the stock.

Shares of Bukit Sembawang are up 18 cents at $5.03.

Source: The Edge

http://www.theedgemarkets.com.sg/smr/?q ... 6-87358173
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Re: Bukit Sembawang

Postby behappyalways » Tue Mar 07, 2017 6:01 pm

Property developer settles dispute with land authority, unlocking value on land
http://www.theedgemarkets.com.sg/articl ... lue-land-0
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Re: Bukit Sembawang

Postby behappyalways » Sat May 27, 2017 7:29 pm

Bukit Sembawang reports 21% fall in FY17 earnings to $72.5 mil on lower revenue recognition
http://www.theedgemarkets.com.sg/bukit- ... ecognition
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Re: Bukit Sembawang

Postby behappyalways » Tue Aug 15, 2017 6:04 pm

bukit-sembawang-posts-78-drop-1q-earnings-596-mil
https://www.theedgesingapore.com/bukit- ... gs-596-mil
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Re: Bukit Sembawang

Postby behappyalways » Fri Dec 01, 2017 7:57 pm

bukit-sembawang-estates-2q-earnings-dropped-54-172-mil-lower-revenue
https://www.theedgesingapore.com/bukit- ... er-revenue
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Re: Bukit Sembawang

Postby behappyalways » Wed Feb 14, 2018 5:22 pm

Bukit Sembawang's 3Q earnings double to $10.7 mil
https://www.theedgesingapore.com/bukit- ... le-107-mil
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Re: Bukit Sembawang

Postby behappyalways » Fri Mar 16, 2018 9:11 pm

Bukit Sembawang acquires Katong Park Towers for $345 mil in en bloc sale
https://www.theedgesingapore.com/bukit- ... -bloc-sale
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Re: Bukit Sembawang

Postby behappyalways » Fri Mar 23, 2018 5:21 pm

Bukit Sembawang scores second en bloc deal in March with $168 mil bid for Makeway View
https://www.theedgesingapore.com/bukit- ... keway-view


Bukit Sembawang buys Makeway View en bloc for $168 million
https://www.edgeprop.sg/property-news/b ... 68-million
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