Chip Eng Seng

CEO, personal opinion, is just a job title and overrated, you need a whole team to build success
Steve jobs, tim cook without the team behind them, i.e. steve wozniack, jonathan ive etc. will have nothing to sell or market about

What is value investing? "It doesn't matter whether a cat is white or black, as long as it catches mice."

When CES was trading at 80 cents with market cap of only $500mil but had its "market cap worth" of locked in profits yet to be reflected in its books, there WAS value.
When Stratech was trading at 2 cents with market cap of only $30mil. But it managed to secure contract of $50mil (HK airport). It also won Changi Airport and Dubai airports. This speaks volume about the quality of its products. Is Dubai so silly to have chosen iFerret?

E.g. Hupsteel - one can wait for "eons" and it does not move at all. Is this value investing?
E.g. New Toyo - tobacco packaging very resilient?

Management and innovation is key to any company. Currently, CES seems to be lacking in this aspect.
tks.

(21-05-2015, 09:33 AM)jjlim84 Wrote: CEO, personal opinion, is just a job title and overrated, you need a whole team to build success
Steve jobs, tim cook without the team behind them, i.e. steve wozniack, jonathan ive etc. will have nothing to sell or market about

Over-rated or not , the fact remains that a prominent and very important team member (one that is very closely "related" to the company) has left without any replacement or someone groomed to take his place. How long has it been now? This could be seen as "left without any warning" if being pessimistic.

After all this is a half billion $ company.

The chip is down again.

Cheap n even more attractive entry pt.

it will probably fall more.

with the new tightening of lending in Aus, there will be many buyers who have put down deposit for TM few years back, who will now be unable to get enough financing to settle. Even those with pre-approvals for finance will be affected.

CES probably knew about the new changes, hence quickly selling off their CUB site for a fat profit. But they can't do anything about the demolition site that is to be the TM.

look out for CEL announcing withdrawal of deposits for the TM project. Most contracts will have a "subject to finance" clause that will allow buyers to easily cancel contracts and get their deposit back.

-not vested-

(22-05-2015, 01:49 PM)BlueKelah Wrote: it will probably fall more.

with the new tightening of lending in Aus, there will be many buyers who have put down deposit for TM few years back, who will now be unable to get enough financing to settle. Even those with pre-approvals for finance will be affected.

CES probably knew about the new changes, hence quickly selling off their CUB site for a fat profit. But they can't do anything about the demolition site that is to be the TM.

look out for CEL announcing withdrawal of deposits for the TM project. Most contracts will have a "subject to finance" clause that will allow buyers to easily cancel contracts and get their deposit back.

-not vested-

Completely wrong.

Australian subject to finance clauses usually give you 30 days from contract signing to arrange finance. Anyone who fails to settle now would not only lose their deposit, but also be liable to pay the full amount to CES. In the last property crash in Australia (1991) many people were sued by developers to claim amounts owed.

APRA also does not leak upcoming policy changes to Singaporean property developers to allow them to sell their development sites at a profit. This is not some third world corrupt country.

(22-05-2015, 03:23 PM)roxhockey Wrote:

(22-05-2015, 01:49 PM)BlueKelah Wrote: it will probably fall more.

with the new tightening of lending in Aus, there will be many buyers who have put down deposit for TM few years back, who will now be unable to get enough financing to settle. Even those with pre-approvals for finance will be affected.

CES probably knew about the new changes, hence quickly selling off their CUB site for a fat profit. But they can't do anything about the demolition site that is to be the TM.

look out for CEL announcing withdrawal of deposits for the TM project. Most contracts will have a "subject to finance" clause that will allow buyers to easily cancel contracts and get their deposit back.

-not vested-

Completely wrong.

Australian subject to finance clauses usually give you 30 days from contract signing to arrange finance. Anyone who fails to settle now would not only lose their deposit, but also be liable to pay the full amount to CES. In the last property crash in Australia (1991) many people were sued by developers to claim amounts owed.

APRA also does not leak upcoming policy changes to Singaporean property developers to allow them to sell their development sites at a profit. This is not some third world corrupt country.

So are you saying tightening credit gonna be no effect on final TM sales proceeds? Assuming they even complete the project? did the developers recoup all their losses by sueing ppl in that 1991 crash?

sent from my Galaxy Tab S

You stated information as fact that was actually completely incorrect. When i corrected you so that the other posters here are not misled, you now try and twist my words rather than acknowledge you were wrong.

My point is simply: there will not be mass withdrawals of deposits because its simply not allowed. You won't see it from CES, you won't see it from Frasers, or any of the other developers in Australia. You said that there would be, but you were basing that on your assumptiom of what the law is, which was totally wrong.

Your doomsday prophecy is also not shown in the share prices of the Australian decelopers, who should be most impacted by the changes.

dont know right or wrong. from my understanding, let say a 800k TM sold, down payment is 80k for 10%. if buyer choose to walk away when complete, buyer lose 80K. if the unit he give up, sold less than 800k later, developer will have right to sue him for the loss.
if the unit sell more than 800k, developer happier, get the 80k and still selling higher price.

with TM buyer who bought quite years back, they are in a good position, which current nearby loction is much higher price than they bought. wondering how many will give up and walk away? even they wlk away, i believe cel can sell higher price. and this is also Mr hoon sharing to me when AGM.