http://infopub.sgx.com/FileOpen/SingHol ... eID=297327
The company will be flushed with cash in 2Q2014 with The Laurels receiving its CSC completion on 28 Mar 2014. There is $106m receivables in the balance sheet. Most probably it will collect most of it in 2Q2014.
one news I like is that they sold 1 unit of biz tech. Their holding cost is $535psf. My guess their selling price is $900psf -$1000psf. Guess they feel that industry units price is too good not to sell even though initially they wanted to keep for rental income. Hopefully they could sell more for my estimate of the full value of the trading properties is more than $40m compare to $28m at cost.
http://www.stproperty.sg/industrial-dir ... rial/10139
They are still timing their launch of Robin Residences.....guess they want to maximise the profits. Personally I hope that since the company would be flushed with cash in 2Q2014, they would use the cash to buy out the 60% minority shareholders and hence not constrained by the QC rules on Robin Residences.....They should get better value when the MRT line is up
behappyalways wrote:From the agm.....
In march the company was looking at a london property for rental income. Not sure if it is still in discussion. Seems like the company will try to go for a higher proportion of income from rental. They mention that they would sell biz tech units if price is good
(my take is that since they are going into investment property then the likelihood of a capital distribution is unlikely as it is capital intensive)
FY2013_Presentation slides.pdf
http://infopub.sgx.com/FileOpen/FY2013_ ... eID=292636
