Sing Holdings

[behappyalways]

Boss bought 949 lots at average $0.357 in the past 2 days. Check SGX announcements.

[behappyalways]

They left 30 units of The Laurels as of Nov 2010. I expect further sales in Dec 2010. Dec 2010 should be a good month. I believe what spur the govt measures was that they have seen the prelim result of Dec sales so they decide to move.

I don't expect the company to be affected significantly because not many units left except for the land in Robin Drive. On a positive note, price expectations for enbloc will go down and maybe a good chance for the company to build up their landbank.

If share price falls, maybe a good chance to accumulate.

[behappyalways]

Property Project : The Laurels
Update: Sing Holding Dec 10
Cumulative Units Sold to-date: 203
Median Price ($psf) in the Month: $3,161
Units sold in Dec: 4
Cumulative Units Launched but Unsold: 26

[Chinaman]

Property Project : The Laurels
Cumulative Units Launched but Unsold: 26

Hmmss, this left over 26 units, from now on might be difficult to find buyers... hope for the best.

[behappyalways]

Property Project : The Laurels
Cumulative Units Launched but Unsold: 26

Hmmss, this left over 26 units, from now on might be difficult to find buyers... hope for the best.

2 years to TOP....every mth sell one ^^ lol no sweat.

[behappyalways]

How much Sing Holdings pays for the land in Robin? $1363psf.
How much is Ying Mansions selling? $1750psf.


Ying Mansions, Villa D'Este public tenders launched by CBRE


CB Richard Ellis (CBRE) yesterday launched the public tender for Ying Mansions on Robin Road and relaunched the public tender for Villa D'Este, which sits along Dalvey Road.


The guide price for the freehold, eight-unit Ying Mansions is $70 million, which excludes a development charge (DC) of $18.1 million. It sits on a 23,975 square foot plot of land in District 10 and has a plot ratio of 2.1 - which translates to a price of $1,750 per square foot per plot ratio (psf ppr).

Villa D'Este's reserve price is $110.6 million - slightly lower than the guide price of $115 million that was quoted when the freehold site was first put up for sale last year. With a gross floor area of 49,071 sq ft, its psf ppr price is $2,253. No DC is payable.

According to CBRE's executive director for investment properties Jeremy Lake, the guide price for Ying Mansions was not modified to reflect the current mood within the property market. Some developers of properties that were launched for sale last weekend lowered their asking prices, following the government's latest cooling measures.

'We will see how the government measures turn out. Some types of properties might be more affected than others. The prime market is more impervious to the measures,' said Mr Lake.

He added that the reserve price for Villa D'Este was lowered because it realised that the pricing last year was 'on the high side, so we have reduced it a little'. The decision to cut the price was made before the government rolled out its latest property curbs, he said.

CBRE expects 3-5 bids to be made for each site.

All the units at Ying Mansions are owned by a single owner and the sale is not subject to approval from the Strata Titles Boards. The site can be developed into a property with a maximum of 24 storeys.

The developer can choose to build 40 apartments, assuming an average size of 1,200 sq ft, said CBRE in a statement. It is minutes away from the proposed downtown-line Stevens MRT Station, and is close to schools such as the Singapore Chinese Girls' School and Anglo-Chinese School (Barker Road).

The Ying Mansions tender closes at 3pm on Feb 23.

The Villa D'Este plot can house 13-14 apartments assuming an average size of 3,500 sq ft, said CBRE. The 12 apartments currently forming Villa D'Este sit in an area approved by the Urban Redevelopment Authority for the most exclusive housing: Good Class Bungalows. Currently, 10 of its 12 owners have signed the collective sale agreement.

The tender for the site - which is in the Nassim Road area and within walking distance of the Singapore Botanic Gardens - closes at 3pm on Feb 15.

[behappyalways]

Bought another piece of land - $1,297psf

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

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

Ying Mansions priced at $1,750psf

http://www.sgpropertyevolution.com/prop ... -jan-2011/

[behappyalways]

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

They bought an adjoining site to the old site that they bought in Sept 2010. They would be combining the two sites. They bought the new site for a lower psf than former site hence bringing the land cost to $1,297psf from $1,363psf initially.

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

From what Kevin Scully said in Net research, they intend to launch the site in 2014/2015. I believe that is intended to create a smooth earning flow after The Laurels and also intended for the completion of Stevens MRT in 2015 to fetch a higher price.

http://www.nracapital.com/netresearchV4/...log_no=613

If the combined Robin Site's build up cost is about $1,700psf and if in 2014, they launched the site for $2,500psf, estimated profit would be about $80m or 20 cents a share. That's about 8 cents for 2.5 years assuming it takes 2.5 years to complete.

So foreseeable earnings from 2011 to 2015 provided no other land bids......

FY2011 - 15 cents (TOP of Bellerive and contribution of The Laurels)
FY2012 - 15 cents (Contribution of The Laurels)
FY2013 - 5-10 cents (TOP of The Laurels)
FY2014 - 8 cents (Robin)
FY2015 - 8 cents (Robin)

[behappyalways]

Sing Holdings is basically a property development and investment group.

This company is relatively easy to understand as there are only a few main assets. NTA of 35 cents and the assets consist of property projects 1)Bellerive and 2)The Laurels both of which are residential developments undertaken by 70:30 joint ventures with Forum Asian Realty Income II, L.P. . 3) Two plots of land in Robin Drive and 4) 69(73 units in FY2009) strata industrial units in BizTech Centre in Aljunied Road.


1. As of 31/09/2010, Bellerive is 94% sold(48 units out of 51 units) and would TOP in 1Q2011

2.As of 31/09/2010, The Laurels is about 85% sold(about 90% sold as of 31/01/2011) with gross proceeds of $583m. The group bought the plot of land in 2007 for $361m and awarded $95m construction project to Lian Beng in Apr 2010. Commencing on Apr 2010, the construction contract period is 34 months. Overall, group share of profit from this project would be around $150m, about 35 cents per share taking 401m shares in issue.

3. These 2 plots of land in Robin Drive are bought for a total cost $124.33m or $1,297psf

4. 69 units as of 31/09/2010 with a value of $33.63m, having sold 4 units during the year.

As of 31/09/2010, company has a short term debt level of $43m and $306m long term debt. The long term debt is due to The Laurels and would be paid off as revenue stream from The Laurels comes in.


After TOP of The Laurels, NTA would be around 70 cents meaning equity of $280m with 401m shares in issue. If group would to do nothing, the group would be left with the plot of land in Robin Drive and 69 units of industrial units. That would meant a total of $160m in land and office units and $120m in cash or 30 cents in cash with no debts.

[behappyalways]

Property Project : The Laurels
Update: Sing Holding Jan 2011
Cumulative Units Sold to-date: 205
Median Price ($psf) in the Month: $3,311
Units sold in Jan: 2
Cumulative Units Launched but Unsold: 24

(Ps: Higher selling price......)