Sing Holdings

Q&A minutes https://links.sgx.com/FileOpen/SHL%20Min...eID=619240


Outlook and Prospects of the Company

2.14 The CEO noted that a few shareholders had queried about the lack of projects in the pipeline, the Company’s
future plans after the Parc Botannia project and what the Company views as its competitive advantage in
light of the challenging market conditions. The CEO shared that the Company has not committed to any
new projects at the moment. He noted that the lack of new projects at a high cost has now placed the
Company in a favorable position. He shared that the Company’s competitive advantage during these
challenging times are that the Company’s development project has been fully sold and the construction of
the same had been progressing well before the temporary suspension of work due to the Circuit Breaker. He
further noted that the Company is in healthy financial position, with low gearing and accessibility to standby
credit facilities. In this regard, he shared that the Company is well-positioned to take on new opportunities
now. The CEO shared that the Company’s plan is to continue to focus on property development for growth
and property investment for recurring income, which is in line with the Company’s core business.

2.15 The CEO noted that some shareholders have also queried if the Company’s preference was to deploy its
capital towards replenishment of its land bank or acquisition of additional investment properties. He noted
in response that the Company’s priority is to undertake development projects to achieve better returns.

2.16 To sum up his presentation, the CEO noted that the global economic outlook for 2020 will be adversely
impacted by the COVID-19 measures. He noted that 2020 is a tough year and that the Company will be
similarly affected by the impact of the COVID-19 pandemic. As a result of the COVID-19 measures, he
noted that revenue and profit recognition for the Company’s property development business will be delayed.
He further noted that the Company’s hotel business will face headwinds as tourism and business travel will
take a hit and are unlikely to recover to pre-COVID-19 levels in the near term. On the other hand, he shared
that the Company expects minimal impact on rental income from the Group’s industrial property, BizTech
Centre. The CEO noted that the impact on the Group’s financial performance for FY2020 will depend on
the duration and severity of the economic downturn and the rate of recovery. Going forward, he shared that
the Company will monitor the market closely and keep an active lookout for new business opportunities
while at the same time remaining vigilant.

My guess is that Sing Holdings is likely to rope in a construction partner as a Joint Venture (helps to reduce construction cost post covid-19) if it is awarded Yishun Avenue 9 EC site.

https://www2.colliers.com/en-sg/news/202...-9-results

Extract from the above online article:

The Yishun Avenue 9 EC site received seven bids, in line with our expectations and consistent with the 7-9 bids for the last six EC site tenders since the cooling measures in July 2018.

The top bid of S$373.5 million, or [b]S$576 psf ppr[/b], was submitted by Sing Holdings, pipping the second-placed Maximus Residential Pte Ltd (JV between CDL and MCL) by 8.9%.

(31-10-2020, 10:34 AM)weii Wrote: My guess is that Sing Holdings is likely to rope in a construction partner as a Joint Venture (helps to reduce construction cost post covid-19) if it is awarded Yishun Avenue 9 EC site.

https://www2.colliers.com/en-sg/news/202...-9-results

Extract from the above online article:

The Yishun Avenue 9 EC site received seven bids, in line with our expectations and consistent with the 7-9 bids for the last six EC site tenders since the cooling measures in July 2018.

The top bid of S$373.5 million, or [b]S$576 psf ppr[/b], was submitted by Sing Holdings, pipping the second-placed Maximus Residential Pte Ltd (JV between CDL and MCL) by 8.9%.

Normally they bid with their JV partner.  Looks like they are going to develop this alone as their previous JV partners have already gotten their own sites (Koh Bro and Wee Hur) or are also bidding on their own (MCC, which won the tanah merah site which closed on the same day).  Construction companies should be hungry for business in the current environment so the costs should be competitive.

(31-10-2020, 10:34 AM)weii Wrote: My guess is that Sing Holdings is likely to rope in a construction partner as a Joint Venture (helps to reduce construction cost post covid-19) if it is awarded Yishun Avenue 9 EC site.

https://www2.colliers.com/en-sg/news/202...-9-results

Extract from the above online article:

The Yishun Avenue 9 EC site received seven bids, in line with our expectations and consistent with the 7-9 bids for the last six EC site tenders since the cooling measures in July 2018.

The top bid of S$373.5 million, or [b]S$576 psf ppr[/b], was submitted by Sing Holdings, pipping the second-placed Maximus Residential Pte Ltd (JV between CDL and MCL) by 8.9%.

Looks like Sing Holdings will be making decent profits from the North Gaia EC which they will be launching in April.  There are only 20 EC units left in 2 projects in Singapore and there's a good probability that they can sell their EC at >1200psf average since this is currently the cheapest plot of land in Singapore and nobody has any units to sell at < 1200psf once the last few units of the 2 ECs are cleared.

https://links.sgx.com/FileOpen/Press%20R...eID=709477

For Immediate Release – 1 April 2022

Sing Holdings presents North Gaia, an Executive Condominium
neighbouring Khatib Bongsu Nature Park

The first executive condominium in Yishun in seven years

Sing Holdings will commence the sales gallery preview and e-application for the highly anticipated
new executive condominium, North Gaia, from 7 April 2022. Named for its closeness and
proximity to nature, North Gaia is the first executive condominium to be built within the Yishun
district in the last seven years, with an excellent view and access to the 40-hectare Khatib Bongsu
Nature Reserve in the northeast, a rich mangrove and mudflat habitat on the northeastern coast
of Singapore, and further unblocked views in the southeast.

Spanning eleven blocks, the 616-unit residences feature spectacular views of nature and the
surrounding Khatib Bongsu Nature Park. About 85% of the units at North Gaia sport a north-south
orientation, many of which enjoy pool views or lush greenery. The thoughtfully-designed
development will be complemented by a series of 60 facilities for residents of all ages - including
two 50m swimming pools, a competition-size tennis court, an indoor, outdoor, and aquatic gym,
a continuous 450-metre jogging path, a co-working space, smart lockers, electric vehicle charging
stations, a mini rock climbing wall, and various pavilions and gardens for outdoor activities.

North Gaia boasts a lively ecosystem of leisure and enrichment. There are many primary and
secondary schools in the vicinity - Chongfu School, Huamin Primary School, North View Primary
School and Xishan Primary School are within a 1-kilometre radius; Ahmad Ibrahim Secondary
School, Chung Cheng High School (Yishun), Northbrooks Secondary School and Yishun
Secondary School are also within close proximity. Amenities abound for the entire family, with
malls like Junction Nine Mall within walking distance and Northpoint City accessible within a tenminute drive, and Seletar Aerospace Park being a fourteen-minute drive away.

Apartments range from 958 square feet (sq ft) to 1076 sq ft for a three-bedroom, 1313 sq ft to
1389 sq ft for a four-bedroom, topping off at 1593 sq ft for a five-bedroom unit. Selected 3-
bedroom units offer an optional configuration that can be transformed into a guest room, a hobby
space or a study room with dual access, allowing residents the freedom of customisation for
spaces they need.

Mr Lee Sze Hao (李思豪), Chief Executive Officer of Sing Holdings (星控股有限公司), said, “We
are very excited to present North Gaia, a unique home that offers much tranquility. We have put
a lot of thoughts into the site orientation and interior layout, as well as the landscaping within the
development, to optimise and complement the surrounding nature. We hope that our homebuyers
will truly experience the theme of the development – Nature Lives With You, Within You.”

Scheduled for completion by 2027, North Gaia is set to be the premier residence for residents
seeking a closer relationship with nature.

For more information, please contact:
Ms Sharlin Tan, Sing Holdings Limited
Tel : 9763 8562
Email : sharlin@singholdings.com
Website : www.northgaia.sg

https://www.edgeprop.sg/property-news/e-...rt-april-7

ByCecilia Chow
/ EdgeProp Singapore
|
April 1, 2022 9:49 PM SGT

The e-application of Sing Holdings new executive condominium (EC) North Gaia at Yishun Close will begin on April 7. The 616-unit project is the first EC to be launch in the Yishun district in seven years, according to Sing Holdings. There are 11 blocks of 14 storeys each sitting on the 231,575 sq ft, 99-year leasehold site.

About 85% of the units are said to have a north-south orientation, with units enjoying pool views or of the surrounding greenery, including views of the 40ha Khatib Bongsu Nature Reserve located nearby.

Apartments range from 958 sq ft to 1,076 sq ft for a three-bedroom unit; 1,313 to 1,389 sq ft for a four-bedroom unit and 1,593 sq ft for a five-bedroom unit. A selected number of three-bedroom units allow owners some flexibility in terms of space customisation.

Communal facilities include two 50m swimming pools, a competition-size tennis court as well as indoor, outdoor and aquatic gym. North Gaia is scheduled for completion by 2027.

“We have put a lot of thought into the site orientation and interior layout of the units,” says Lee Sze Hao, CEO of Sing Holdings.

E-application period will stretch from April 7 to 19, with prices of the units to be released on April 20 and 21. Booking of units will start on April 23.

Read up on the past posts in this thread and investors will know the company has been very stingy with minority shareholders.

Despite a good set of earnings, dividends given to minority has been very little as compared to earnings

I would go for other property companies such as KSH whose mgmt are more generous in sharing dividends with minority shareholders. How mgmt declare dividends in tandem with earnings is an important indicator of actions to show its a worthwhile investment. Singholdings fail in this act.

(30-03-2022, 06:47 PM)bargainhunter Wrote:

(31-10-2020, 10:34 AM)weii Wrote: My guess is that Sing Holdings is likely to rope in a construction partner as a Joint Venture (helps to reduce construction cost post covid-19) if it is awarded Yishun Avenue 9 EC site.

https://www2.colliers.com/en-sg/news/202...-9-results

Extract from the above online article:

The Yishun Avenue 9 EC site received seven bids, in line with our expectations and consistent with the 7-9 bids for the last six EC site tenders since the cooling measures in July 2018.

The top bid of S$373.5 million, or [b]S$576 psf ppr[/b], was submitted by Sing Holdings, pipping the second-placed Maximus Residential Pte Ltd (JV between CDL and MCL) by 8.9%.

Looks like Sing Holdings will be making decent profits from the North Gaia EC which they will be launching in April.  There are only 20 EC units left in 2 projects in Singapore and there's a good probability that they can sell their EC at >1200psf average since this is currently the cheapest plot of land in Singapore and nobody has any units to sell at < 1200psf once the last few units of the 2 ECs are cleared.

if you see surrounding private condos which are relatively new, less than 10 years old like symphony suites and nine residences, they are only averaging 11xx. This is afterall an EC. We shall see how Sing Holdings price it on 20th April.

(02-04-2022, 07:58 AM)CY09 Wrote: Read up on the past posts in this thread and investors will know the company has been very stingy with minority shareholders.

Despite a good set of earnings, dividends given to minority has been very little as compared to earnings

I would go for other property companies such as KSH whose mgmt are more generous in sharing dividends with minority shareholders. How mgmt declare dividends in tandem with earnings is an important indicator of actions to show its a worthwhile investment. Singholdings fail in this act.

So far, Sing Holdings' dividend smoothening unofficial policy has paid a minimum of 1c (2.5% dividend yield at $0.40) on years when it earned less than 1c.  Overall, it has been paying around 25% of earnings (average of slightly over 3% p.a. on a 5 year average) out as dividends .  Certainly stingy but at least the 75% earnings retained in the business has not been recklessly reinvested.  They have been conservative in their land bidding and the 75% of cash earnings retained in the company helps to reduce future interest costs by lowering borrowings needed for subsequent property development projects.

(02-04-2022, 12:08 PM)sgpianolessons Wrote:

(30-03-2022, 06:47 PM)bargainhunter Wrote:

(31-10-2020, 10:34 AM)weii Wrote: My guess is that Sing Holdings is likely to rope in a construction partner as a Joint Venture (helps to reduce construction cost post covid-19) if it is awarded Yishun Avenue 9 EC site.

https://www2.colliers.com/en-sg/news/202...-9-results

Extract from the above online article:

The Yishun Avenue 9 EC site received seven bids, in line with our expectations and consistent with the 7-9 bids for the last six EC site tenders since the cooling measures in July 2018.

The top bid of S$373.5 million, or [b]S$576 psf ppr[/b], was submitted by Sing Holdings, pipping the second-placed Maximus Residential Pte Ltd (JV between CDL and MCL) by 8.9%.

Looks like Sing Holdings will be making decent profits from the North Gaia EC which they will be launching in April.  There are only 20 EC units left in 2 projects in Singapore and there's a good probability that they can sell their EC at >1200psf average since this is currently the cheapest plot of land in Singapore and nobody has any units to sell at < 1200psf once the last few units of the 2 ECs are cleared.

if you see surrounding private condos which are relatively new, less than 10 years old like symphony suites and nine residences, they are only averaging 11xx. This is afterall an EC. We shall see how Sing Holdings price it on 20th April.

North Gaia replaces symphony suites' sea view.  Buyers these days also seem keen to buy brand new units to save on renovation costs and also gain the 6 years difference in land lease decay.  Agents have been touting an average psf of 1250psf.  Indeed we shall see if the project is indeed priced so on 20/4 and whether the project can sell well at this price on 23/4.