Sing Holdings

[behappyalways]

land is freehold.....they don't update their website....that's why one shareholder was displeased....just click on investor relation and you see why


http://www.singholdings.com/index.html

and to add, the land cost is $1300psf. If I am correct, Far East project, Cyan is selling above $2000psf.....so the land is in the money

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Sing Holdings' 1Q2011


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

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http://www.nracapital.com/netresearchV4 ... log_no=636

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FYI

During the AGM, the director stated that The Laurels has completed piling one of the two tower blocks. The company has accounted for 14% completion of the project(The Laurels) while looking at the balance sheet for 1Q2011, the company has a receivable amount of $66.4m meaning that this amount could be the payment for completion of foundation work. The company could have received 30% payment of the project by now.

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

http://www.ura.gov.sg/lad/HBG/progressPayments.htm

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http://www.youtube.com/user/kimengvideo ... zf2SRbaVPA

http://www.youtube.com/user/kimengvideo ... V5Vi36YGbo

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2Q2011 Result

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

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2Q2011 Result

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

Notes on 2Q2011 results......

1. As at up to date of announcement, company sold about 93% of The Laurels compared to 91% in 2Q2011. This meant that the company sold about another 4 units in July 2011.

2. The value of the company's trading properties is $31.7m which consists of office units in BizTech Centre. They sold 2 units in 2Q2011 for $2m with a gain of $300kk. The value of the trading properties should continue to provide revaluation gain and profit for the company.

3. 2 more units of Bellerive(50 out of 51 sold) were sold but they were not reported in 2Q2011 so they would be booked in 3Q2011 and since the project TOP in 1Q2011, the 2 units would add about $3.5m - $4m to sales.

4.$541.m of balance progress billings(from the 93% sales revenue of The Laurels) will be progressively recognised as revenue from 3Q2011 to FY2013. Taking TOP of The Laurel in 4Q2013, that's about 10 quarters, meaning an average revenue recognition of $54m per quarter compared to $22m in 2Q2011.

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Property Project : The Laurels
Update: Sing Holding July 2011
Cumulative Units Sold to-date: 213
Median Price ($psf) in the Month: $2,985
Units sold in July 2011: 3
Cumulative Units Launched but Unsold: 16

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The share price has been underperforming the market even though the company is doing well. Minority shareholders really got to think for themselves whether the mgmt is doing a good job. The Lee Family currently owns about 35% of the company. If share price continues to languish, no doubt the significant shareholder may mount a takeover at a low price and minority shareholders will suffer. Personally I am thinking they are in a process of 'lowering' share price. They decline share buyback, they decline to join SGX research scheme hence basically few analysts are covering the counter and even failed to update the company's website. What the XXXX the management is doing?

http://www.singholdings.com/annualreports.html

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Stevens MRT -2015

http://en.wikipedia.org/wiki/File:Stevens_large.jpg