Wheelock Properties

and check out Wharf's Fuyang city, Zhejiang Hangzhou, Yong Jing Shan project. (富阳的九龙仓·雍景山)
http://yongjingshanjlc.fang.com/photo/li...095564.htm
The project is massive, includes a 9 mins video.
Wharf is the subsidiary unit of Wheelock.

Included in Wheelock's Q3 15 status report on the project in Hangzhou:
雍景山 
This residential site situated at Fuyang City, 22 km away from Hangzhou, China, comprises villas, townhouses, duplexes and apartments on a site area of 3.2 million sq. ft. Sale of the units in Phase 1 started on 4 July 2015. As at 30 September 2015, about 50% (95 units) were sold out of 191 units launched. The average selling price achieved is about RMB9,300 psm.

Recent article also reported Hangzhou's properties prices heading north...
观点周报：杭州半年收官 市区新房签约额增长88.5%
http://www.guandian.cn/m/show/162724

Dividends wise, Wheelock typically dispenses 6cents per year, so at $1.42, its about 4.2% yield.
Privatisation wise, the talk has been always been in town, but well, dun bet on it, least it serves only as a rumour.
always stoking speculations


YMMV :p

(16-12-2015, 09:55 PM)piggo Wrote:

(16-12-2015, 08:17 PM)SLC81 Wrote: At this level $1.415, Privatization of Wheelock Properties (Singapore) has become a high possibility in 2016.

Wheelock and Co.  privatized Hong Kong listed Wheelock Properties (Hong Kong) in 2010 at 140% premium.  

Wheelock and Co. has every reason to privatize Wheelock Properties (Singapore), it is selling some office assets in Hong Kong and i think the best of of proceed shall go to privatize Wheelock (Singapore).

Let see if this happen in Q1-2016.

Not the first time it went to $1.4 and lower... 

I believe $1.4  is the bottom. You may not see it again.

Wheelock Q1 FY16's profits coming in at $11.1 million, kinda reflect the current state of property prices in season.

Some updates on their prop developments also below.

Property Review Development Properties 
Scotts Square 
As at 31 March 2016, 82% (278 units) of the 338 units were sold at an average price of $4,000 psf. In addition, 31 of the 38 units earmarked for leasing have been leased, representing 82% occupancy at an average monthly rent of $5,000 per month per unit. 
Ardmore Three 
As at 31 March 2016, 7 units have been sold at an average price of $3,300 psf. Ardmore Three was relaunched on 14 April 2016.
The Panorama 
As at 31 March 2016, a total of 597 units or about 96% of the 620 units launched have been sold at an average price of $1,250 psf. Active marketing is on-going. 
雍景山 
As at 31 March 2016, 253 or about 73% of the 345 units launched for Phase 1 were sold at an average price of RMB8,591 psm. Phase 2 construction commenced on 30 December 2015 and sales launch is targeted in the 2nd quarter of 2016.

Wheelock Properties' Q1 earnings fall 9.1% to S$11.1m

http://www.businesstimes.com.sg/companie...1-to-s111m

It DPS has been consistently higher than EPS , drawing on reserve to pay dividend .

I know Wheelock has a very clean balance sheet but one question, did they pay for extension charges for their unsold units in Scott Square? Or did they buy up and convert to service apartments?

Did they pay extension charges for their unsold scott square or did they buy up the unsold units and convert them to service apartments?

(16-05-2016, 09:50 AM)tonylim Wrote: It DPS has been consistently higher than EPS , drawing on reserve to pay dividend .

Cant judge like that have to look at eps from 2009 until now. Property developer earnings are choppy.

Hi just did a write up on Wheelock Properties.

Its an interesting stock and the balance sheet is strong.

The only concern is the QC charges for Ardmore Three - Hopefully they sell all other 30 units soon.

http://tubinvesting.blogspot.sg/2016/11/...about.html

<Vested>

(27-11-2016, 11:26 AM)TUBInvesting Wrote: Hi just did a write up on Wheelock Properties.

Its an interesting stock and the balance sheet is strong.

The only concern is the QC charges for Ardmore Three - Hopefully they sell all other 30 units soon.

http://tubinvesting.blogspot.sg/2016/11/...about.html

<Vested>

Hi TUBInvesting,

NAV as at 30-Sep-2016 is SGD 2.52 per share. How did you get 1.703 ?
________________________________________________________________________________________________________________________________________

(28-11-2016, 01:44 PM)Boon Wrote:

(27-11-2016, 11:26 AM)TUBInvesting Wrote: Hi just did a write up on Wheelock Properties.

Its an interesting stock and the balance sheet is strong.

The only concern is the QC charges for Ardmore Three - Hopefully they sell all other 30 units soon.

http://tubinvesting.blogspot.sg/2016/11/...about.html

<Vested>

Hi TUBInvesting,

NAV as at 30-Sep-2016 is SGD 2.52 per share. How did you get 1.703 ?
________________________________________________________________________________________________________________________________________

I did a 50% discount on its Non-current Asset figure. However, it should be around $2.0 instead (30% discount).

Anyway realize there is insider buying in Sep. Not sure if it is already posted.