Sing Holdings

[behappyalways]

The Waterwoods will TOP in 2016....so 2 more years to go and since it is EC, Sing Holdings will have to acct for its revenue and profit in one lump sum when TOP

2 years or more to go for it to TOP so company needs to sell around 10 units per mth on average.......

Nov Sales = 131 units
Dec Sales = 8 units
Jan Sales = 11 units (if 150 units )

Analyst estimate that company stands to make around $50m if they sold all at $750psf.....so if they are able to sell all at $800psf, then the profit maybe around $60m ++(after tax)

Gross Floor Area of Waterwoods is around 500,000sq f
Average selling price $800psf
Total gross sale proceeds if all sold = $400m (500,000 x 800)
Taking 150 units sold, that's 40% or present gross sale proceeds of $160m......
They kinda got back the land cost......

In 3Q2013 balance sheet, long term debt of $235m well they already got $160m gross sale proceeds.....

that's why I think the Lees should delist.....market is bearish on them but their short term debt and long term debt is kinda 'covered'.....so little risk for them while they can reap the profits from Waterwoods, Robin and Office Units(valued at $535psf cost but latest sale done at $905psf)

[Jordankbl]

The Monetary Authority of Singapore (MAS) on Monday eased the restrictive Total Debt Servicing Ratio (TDSR) on certain property buyers.

Below is the full statement from MAS:

The Monetary Authority of Singapore (MAS) has received feedback from borrowers who face challenges refinancing loans for owner-occupied properties which were bought before the introduction of the Total Debt Servicing Ratio (TDSR) rules. MAS has decided to broaden the existing exemption from the TDSR threshold of 60 percent for such loans to ease the debt servicing burden of these borrowers.
*
Refinancing of owner-occupied property loans

2. Under the revised rules, a borrower who bought a residential property before the TDSR rules were introduced – i.e. the Option to Purchase (OTP) of the residential property was granted before 29 June 2013 – will be exempted from the TDSR threshold as long as he occupies the residential property that is being refinanced. This is a concession compared to the current rules, which also require that he does not own any other property, or have any other outstanding property loan.

3. The Mortgage Servicing Ratio (MSR) will also not apply to the refinancing of loans for HDB flats and Executive Condominiums (ECs) that are owner-occupied and were purchased before their respective MSR implementation dates.

4. A similar concession will apply with regard to loan tenures, for residential properties purchased before the respective implementation dates for the loan tenure limits. In such cases, borrowers whose loan tenures for their owner-occupied residential properties exceed the current regulatory limits will be allowed to maintain the remaining tenures of their loans at the point of refinancing.

Refinancing of investment property loans

5. The TDSR threshold of 60 percent will continue to apply to the refinancing of all investment property loans. This is to encourage borrowers to right-size their loans and thereby reduce their vulnerability to adverse economic conditions or changes in interest rates. However, MAS recognises that some borrowers may face challenges in right-sizing their debt obligations in the short term; the starting level of debt may be too high and there may be significant costs involved if they had to sell their properties to reduce their leverage.
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6. Therefore, MAS will allow a transition period until 30 June 2017, during which a borrower may refinance his investment property loans above the 60 percent threshold, provided he meets the following conditions:
*
(a) the OTP of the property was granted before 29 June 2013;

(b) the borrower commits to a debt reduction plan with the financial institution (FI) at the point of refinancing; and

(c) the borrower fulfils the FI’s credit assessment.

7. The changes are intended to help borrowers ease their immediate debt servicing burdens, while encouraging those who have taken on high leverage on their investment properties to right-size their loans as early as possible.

8. Borrowers should be aware that the current low interest rate environment will not persist indefinitely. When interest rates rise, borrowers will face higher mortgage repayments. Borrowers engaging in refinancing should therefore exercise prudence and review their debt commitments.
*
9. The revised rules will take immediate effect.

[iam802]

I assume the key news for this is the exempt of TDSR from EC

[behappyalways]

see reply No 45

http://forums.condosingapore.com/showth ... 262&page=5

[Jordankbl]

Good afternoon Behappyalways san and All.

what see reply No 45?

[behappyalways]

nothing. just that you can see the sales unit chart.

Good afternoon Behappyalways san and All.

what see reply No 45?

[Jordankbl]

nothing. just that you can see the sales unit chart.

Good afternoon Behappyalways san and All.

what see reply No 45?

oic..10 units got the round yellow sticker...what the yellow sticker for? taken? dummy? Thank you.

[behappyalways]

not too sure? my guess is 'chop' but deal not done yet.....just a guess...

[Jordankbl]

likely a dummy from my agent friend. now waiting for the 4Q results...


<<KHAW CONFIRMS VALUE OF HDB FLATS WILL BE ZERO AT END OF 99-YEAR LEASE>>
http://therealsingapore.com/content/kha ... -singapore

http://therealsingapore.com/content/kha ... year-lease

[Jordankbl]

Good morning Behaapyalways san and every1.

154 units Waterwoods sold. Left 219 units

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