Chip Eng Seng

http://video.xin.msn.com/watch/video/chi...%257c%257c

(25-11-2012, 03:35 PM)funman168 Wrote: http://video.xin.msn.com/watch/video/chi...%257c%257c

Not to worry... if you google you will find 12 storey is possible for CES site.. 2 other sites nearby are already approved for 12 storey (the rest is 8 storey), and CES site can also be approved for same 12 storey subject to one condition - building a pedestrian mall access to Hastings Street. So it's not true that it's not possible for CES to build 12 storey on it.

However, it is true that it has been a while since the site was bought and there is no official launch, but it could be due to mispricing or re-designing of the building, timing, etc.

Anyway small sum investment only for this site.. no big deal, probably mean big or smaller profit thats all.

Big catch is still the launch of Alexandra hotel shops next month. Very high psf of $4.000-5,000+ psf I heard.

CES did a share buyback in the mkt yesterday: 3.2 million shares at 49.16 cents. This bodes well for the stock which on the charts look like going to near a resistance line at about 51ct. Once this breaks technical traders other than fundamentals buyers may pile in to the counter.

http://m.heraldsun.com.au/news/victoria/...6533175370

Tower Melbourne approved!! 1 risk factor down

More share buy back today at 54 cents.

More share buy-back today using close to $1m. Anyone knows if company is planning any share option for staff?

CES bought back another 2,617,000 shares at an average price of 0.569910 today.

Total number of shares trasacted today is 5,947,000.

NAV is 64.81.

(17-12-2012, 07:18 PM)shn Wrote: CES bought back another 2,617,000 shares at an average price of 0.569910 today.

Total number of shares trasacted today is 5,947,000.

NAV is 64.81.

NAV will increase next year with contribution from Tower Melborne.

CES has launched an industrial project called 100 Pasir Panjang announced yesterday on SGX site. Very nice building design - better than many condos. Should sell well.

Also announced yesterday confirmation that Tower Melbourne is approved fully. Non stop aggressive share buyback, impending launch of Alexandra shops...mean I am still accumulating this one.

Will consider selling only when stock price passes 80ct.

Fair value of Chip Eng Seng is easily more than $1 when Tower Melborurne is completed. Not forgetting that they still have yet to announce plans for office development in Perth.