Sing Holdings

[behappyalways]

http://infopub.sgx.com/Apps?A=COW_Corpo ... 3Q2013.pdf
Sing Holdings 3Q2013 Balance Sheet

Trade Receivables $161m
Cash and Cash Equivalent $100m
Devt Properties $388m (The robin plot and Waterwoods together should be around $360m so I guess maybe another $20-30m from The Laurels.....Let's take $20m)

Trade and other payables $30m
Interest bearing bank loan $116m
Loan from non-controlling shareholders plus provn for taxation $31m( $27+$5m)

So if company takes the cash and near cash plus remaining Laurels' proceed and payoff the current liablilties - $281m(161m+$100m+$20m) -$177m =$104m
Take Sing Holdings 70% stake .......$70m or $0.175 per share.


The Trading properties is worth $28m valued at cost $535psf.......latest selling price is $905psf or 70% above cost.....let's take $750psf (40% above $535psf) which equates to around $40m or $0.10 per share.

Development Properties $368m ($388m - $20m(The Laurels))
Long term loans and loans from controlling shareholders $234m ($217m +$17m)
The long term loans are pegged to TOP of the development properties......Net Devt Properties over Long term loans $134m ($368m -$234m) or $0.335 per share
Bear in mind the development properties($368m) are at cost and does not include any profits......

As of 27/01/2014.....151 units of Waterwoods are sold.....or 40% sold....Waterwoods gross floor area is around 500,000 sq feet and if average price is $800psf......Gross total proceeds from project if all sold is around $400m......now it is 40% sold meaning....gross proceeds of $160m at present......
Compare it with long term debt......basically company already covers the short term debt and a big portion of the long term debt........basically not much risk since debts are covered....

The significant shareholder should delist it and reap the profit from Waterwoods, Robin and office units.......

(there might be some errors here or there in my calculation but the big picture is there....)

[ngcheeki]

Chinese New Year is an occasion to celebrate with our families and friends - to catch up with those are dear to us, especially loved ones who we have not seen for a long time, at reunion dinners and home visits over an abundance of good food and delicacies aplenty. This is also a time when we reflect on the year that has passed and be thankful too for the many blessings amongst us.


The Year of the Wooden horse is said to bring peace, health, and happiness ... ... Here's wishing Behappyalways san, Ngcheeki san and All a Blessed Lunar New Year ahead!


我恭祝大家2014 马年行大运、发大财、身体健康、万事胜意!

kbl, behappyalways san and all others, wish you a very prosperous and happy Chinese new year too. Hopefully, there will be big "Ang Bao" from Sing Holdings in term of special dividend just like what they offer for the waterwood EC

[behappyalways]

Sing holdings is not bidding for EC any more(due to the new measures)......and the next few tenders are either too big or EC.....so they would be hoarding on cash....but they recruited a new guy and that probably meaning they are going new areas....that might involve cash.......

https://www.squarefoot.com.sg/trends-an ... land-sales

[behappyalways]

another one thing going for Waterwoods........

http://www.channelnewsasia.com/news/sin ... 77732.html

[Jordankbl]

Good afternoon and Gong Xi Fa Cai every1.

SkyPark got 4 units return.

http://www.executivecondominium.sg/SkyP ... ences.html

SingHoldings 4Q results next wk if same as last yr.

<vested><not a call to buy or sell>

[behappyalways]

went down to robin road. They are setting up the showflat at the moment. The exterior for the showflat is up. Let's hope that they can launch the project in 1Q

[Jordankbl]

Good afternoon every1.
**Property industry experts are hoping to see a reduction of some of the previous market cooling measures in the Singapore Budget 2014, which will be revealed by Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam (pictured) on February 21.

Tweaks, or an entire roll-back of the additional buyers stamp duty (ABSD) and the total debt service ratio (TDSR) would be most welcomed by the sector.

Donald Han, Managing Director at Chesterton Singapore, said: “Our wish is for the government to consider scaling back or loosening certain measures which have yielded the desired results.”

Notably, the introduction of the ABSD as well as the seller’s stamp duty saw sub-sales and foreigners’ participation rates in the Singapore property market hit new lows, while the TDSR framework has successfully slammed the brakes on skyrocketing property prices and transaction volumes.

Han added that reviewing these policies will give foreign investors the “right signal^^

http://www.propertyguru.com.sg/property ... g-measures

[behappyalways]

a good time to launch robin is after budget.....if the govt relax some of the rules, then they might be able to increase sales and price

[Jordankbl]

Waterwoods 1 more units sold

[Jordankbl]

Good morning Behappyalways and every1.

153 units Waterwoods sold. Left 220 units

http://www.executivecondominium.sg/WaterWoods.html