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(16-01-2011, 02:31 PM)freedom Wrote: (16-01-2011, 02:14 PM)yeokiwi Wrote: (16-01-2011, 01:37 PM)freedom Wrote: SC Global could do a cash call very soon.
It has 800+ million debt matured in 2011 and cash on hand only 165 million. with quite some properties completed or near completion, but not launched or sold. with more cooling measures coming, will SC Global obtain enough cash to settle its debt or potentially a cash call very soon?
Unless, the assets used for securing the loans have dropped in valuation drastically(quite unlikely at the moment), SC global will be able to roll over the debt. Besides, SC global has enough cash to pay for the interest on the loans.
$165 million of cash is good enough to handle small drop in the valuation.
does everyone see a future in property developers?
if not, banks will not roll over the debt given the uncertainty in the property business. just too much risks.
during 2008, it was not that everyone could not pay its debt, but banks still did not allow rollover of debt.
valudation is not the only killer. confidence is also very important.
I guess we should keep an eye on REITs/Property trust with debts maturing before 2012.
Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.
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all of sudden, Wheelock's low landbank does not seem that bad.
anyway, no matter what kind of landbank you have, the market will find fault.
the expectation of more cooling measures alone will crash the property market in the mid-term. around the time to start the property down-cycle.
the remaining units of Orchard View should be put into launch soon. or postponed indefinitely? How long can a property developer hold the topped property? Will Wheelock still launch their Ardmore III this year?
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Proposed Acquisition of Sites in Fuyang City, The People's Republic of China
http://info.sgx.com/webcoranncatth.nsf/V...1003142D8/$file/WPSL_ANN_PRC.pdf?openelement
The acquisition cost is approx S$279 million.
Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.
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Anyone has idea why Wheelock venture into China?
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To replenish its land bank ? Local land is pretty expensive at the moment ?
Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.
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Thanks freedom for your reply!
I was wondering why Wharf wants Wheelock to venture in China, instead of focusing in Singapore?
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Oh i see... thanks for the info!
how much do you estimate the intrinsic value of Wheelock?
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