Wheelock Properties

Re: Wheelock Properties

Postby kennynah » Wed Feb 16, 2011 5:30 pm

ichew wrote:come bro K, this yr we go eat AGM buffet again
food last yr not too bad la
just no goodie bags :P


can, bro ichew :) when is this AGM happening? and can i just go straight to the food portion and skip the hoohah in the room? hahaha...

wah...6cts/share ah.... song loh...

they'd better give more..since i missed out abt ~ a decade's worth of AGM spreads....never attended any of such AGMs...
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Re: Wheelock Properties

Postby ichew » Wed Feb 16, 2011 8:38 pm

we sit behind .. near the exit .. so once food serves, we go q first.
but sometimes agm quite interesting ... got pple ask funny questions
wheelock angmo ceo quite old liao ... but still interesting to hear cos he dares to say
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Re: Wheelock Properties

Postby kennynah » Thu Feb 17, 2011 12:23 am

Nowadays, I hear angmo spout nonsense all around me... Nothing interesting at all..
Better listen to Chinamen lambasting the western pple, more shiok :)
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Re: Wheelock Properties

Postby ngcheeki » Tue Feb 22, 2011 3:47 am

Wheelock properties FY2010 result is out. As usual, dividend announced is 6 cents as expected. The following is snapshot of the result.

GROUP FINANCIAL HIGHLIGHTS (in million unless otherwise stated)
FY2010 FY2009 % CHANGE
Revenue $571.7 $386.6 +47.9%
Gross Profit $329.6 $187.4 +75.8%
Profit before tax $375.6 $284.5 +32%
Earnings Per Share (“EPS”) 26.42 cents 21.92 cents +20.5%
Net Asset Value (“NAV”) $2.31 per share $2.06 per share +12.1%
Gearing Ratio 3.8% 9.5% -60%


See the following link for more information.
http://info.sgx.com/webcoranncatth.nsf/ ... penelement
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Re: Wheelock Properties

Postby ngcheeki » Thu Feb 24, 2011 5:40 pm

Wheelock properties decides to go China to develop properties, land price of RMB1,437,250,000 for 5 pieces of land in Fuyang City. See the following link for more information.

http://info.sgx.com/webcoranncatth.nsf/ ... penelement

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Re: Wheelock Properties

Postby LenaHuat » Thu Feb 24, 2011 6:07 pm

It is venturing into a 3-tiered Chinese city.
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Re: Wheelock Properties

Postby winston » Sat Sep 24, 2011 10:18 pm

Wheelock Properties unit sued for S$14m for defects By Ewen Boey

Residents of The Seaview, an upmarket condominium in the east, are seeking $14 million in compensation for defects that have been plaguing the estate for the last three years.

The developer, Mer Vue Developments, a subsidiary of Wheelock Properties, is being sued for what is believed to be one of the largest amounts ever in Singapore.

The main contractor Tiong Aik Construction, RSP Architects Planners & Engineers and engineering firm Squire Mech are also named in the suit, which was filed by the condo's management corporation (MC), The Straits Times reported on Saturday.

Complaints of shoddy workmanship and bad smells in their units abounded shortly after residents moved into the estate in mid-2008, which was billed originally as the "Ardmore Park of the east".

http://sg.news.yahoo.com/wheelock-prope ... fects.html
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Re: Wheelock Properties

Postby winston » Wed Dec 19, 2012 10:24 am

not vested

Wheelock is currently trading at 0.79x book with a 24% public float and a major shareholder stake of 76%.


Source: OCBC
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Re: Wheelock Properties

Postby winston » Tue Jan 08, 2013 6:43 pm

not vested

Wheelock is top bidder for Ang Mo Kio site

Pinehill Investments, a unit of Wheelock Properties (Singapore), has placed the highest bid for a 99-year leasehold private housing site in Ang Mo Kio Avenue 2.

Its bid of S$550 million, or S$789.89 per square foot per plot ratio (psf ppr), was the highest of 12 bids which the state tender for the site drew.

The second highest bid of $536.2 million, or S$770.08 psf ppr, was from CapitaLand unit Athens Residential Development.

The lowest bid, from Plan Achieve, was S$361.97 million or S$519.86 psf ppr.


Source: Business Times
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Re: Wheelock Properties

Postby winston » Wed Jan 09, 2013 10:06 am

not vested

Wheelock Properties- Back in the Singapore acquisition scene after a long hiatus.

(WP SP/BUY/S$2.00/Target: S$2.41)
FY12F PE (x): 19.6
FY13F PE (x): 17.2

Bidding for the closely contested Ang Mo Kio site closed yesterday, with Wheelock Properties submitting the highest bid and outbidding 11 other developers.

The 99-year leasehold site can yield about 680 units, and is located opposite to St Nicholas Girls’ School (a short three-minute walking distance to the upcoming Mayflower MRT station on the Thomson line).

A cautiously optimistic bid with RNAV accretion of 6 S cents. We expect the breakeven price for the site to be in the range of S$1,300- 1,350psf and selling prices to be upwards of S$1,500psf for the site.

In our view, these selling prices are achievable, considering the fact that Centro Residences, which is located close to the MRT is currently transacting in the price range of S$1,500-1,700psf, while recent transactions in Thomson Grand (located further away from the MRT) are at S$1,300-1,400psf.

The bid also represents a 7.5% discount to CapitaLand’s recent bid for Bishan site (located one MRT station away). We expect overall net profit of about S$110m and an RNAV accretion of 6 S cents from the project.


Maintain BUY, and increase target price to S$2.41/share (previously S$2.36/share), pegged at a 15% discount to our RNAV of S$2.83/share.

Wheelock’s share price is currently trading at a discount of 22% to its book value and 30% discount to our estimated RNAV. Going forward, we expect the discounts to narrow with Wheelock’s more active participation in the Singapore property market.

Source: UOBKH
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