Wheelock Properties

Yesterday SC Global announced that there would no increase in offer price by Simon Cheong. So it's likely that Wheelock will not sell the SC Global stake.

(12-12-2012, 11:21 PM)greengiraffe Wrote: http://cpf.gov.sg/imsavvy/infohub_articl...7D&print=1

Old BT Article Dated 31/10/2009 - Wheelock average costs in SC Global at $2.35

Upbeat outlook on luxury market



Source: The Business Times © Singapore Press Holdings Limited. Reproduced with permission 31/10/2009

WHEELOCK Properties (Singapore) CEO David Lawrence remains upbeat about prospects for Singapore's luxury residential property market, as the island is increasingly attracting rich people and businesses.
'The interesting thing is that more and more people are becoming PRs and citizens,' he says. 'A lot of them are very rich and want the best product. So you've got to be a good developer producing good products like Wheelock or SC Global or Hotel Properties Ltd (HPL).'
Wheelock owns about 16 per cent of SC Global and almost 21 per cent of HPL. 'We're happy with our stakes in these companies,' Mr Lawrence said in a recent interview with BT.
In April last year, he apologised to shareholders at an annual general meeting for having bought a stake in SC Global at the top of the market in 2007. But now he lets on: 'I should tell you that I have had approaches from Middle Eastern investors recently to buy our stake in SC Global and I said: 'Not interested. Thank you very much'.'
Wheelock acquired its SC Global stake at an average price of $2.35 a share. SC Global's stock price fell from a high of $3.40 in June 2007 to a low of 29.5 cents in March this year. It has since been recovering, ending at $1.41 yesterday, down one cent from Thursday's closing price.
The focus of the Singapore Government's recent measures to stabilise the property market are on the mass and mid segments, which Mr Lawrence reckons 'went out of control a little bit'. 'I don't think the government needs to be concerned about the luxury sector,' he said.
The government has done enough to cool the private residential property market - for instance, by promising to release more land in the first half of next year, he feels.
The recent phenomenon of developers chasing sites and paying high land prices has been fuelled by low interest rate loans to developers by banks. 'If this liquidity gets out of hand, the government can just release more sites. They've got plenty of sites ready to go,' Mr Lawrence said.
Around this time last year, he urged investors to buy Singapore property stocks because they were looking cheap after being battered during the financial crisis. Now that property stocks, along with the overall market, have surged - in some cases 100 per cent or even more - Mr Lawrence advises investors to switch out of property stocks and into real or physical assets. 'Property is one class of real assets and will provide a long-term hedge against inflation,' he argued.
'I am not saying the property markets are going to shoot up, because the Urban Redevelopment Authority is there to stabilise the market. But now is the time to take profit on paper assets and move into physical assets, which are still the best long-term hedge against inflation. And inflation will be coming back in the next few years.'
Sovereign wealth funds and savvy investors are already following this strategy, Mr Lawrence says.

Wheelock properties had purchased 2,098 and 700 lots of SC Global shares in the open market on 2 Jan 2013 and 3 Jan 2013. See the following for more details.

http://info.sgx.com/webcoranncatth.nsf/V...7004BDB7F/$file/Disclosure_of_Dealings_Wheelock.pdf?openelement

http://info.sgx.com/webcoranncatth.nsf/V...80040E6EB/$file/Disclosure_of_Dealings_Wheelock.pdf?openelement

(03-01-2013, 08:12 PM)ngcheeki Wrote: Wheelock properties had purchased 2,098 and 700 lots of SC Global shares in the open market on 2 Jan 2013 and 3 Jan 2013. See the following for more details.

http://info.sgx.com/webcoranncatth.nsf/V...7004BDB7F/$file/Disclosure_of_Dealings_Wheelock.pdf?openelement

http://info.sgx.com/webcoranncatth.nsf/V...80040E6EB/$file/Disclosure_of_Dealings_Wheelock.pdf?openelement

Wheelock now controls 16.51% while Simon now controls 63.972%. SC Exec director owns 3%. In total, they own 83.482%.

Looks like Wheelock is helping Simon to move towards suspension of trading in SC Global shares so that they can discuss what their needs are privately.

Simon has already indicated that he will not raise the offer price, ruling out a better offer at least for 1 year though he can continue to extend his offer period.

Unless anyone is happy to own a delisted entity, any potential windfall from an improved deal is unlikely to materialise as long as SC Global shares continue to trade.

Very interesting General Offer.

This is how the big fishes eat up the small "retail" fishes!

(03-01-2013, 09:07 PM)greengiraffe Wrote:

(03-01-2013, 08:12 PM)ngcheeki Wrote: Wheelock properties had purchased 2,098 and 700 lots of SC Global shares in the open market on 2 Jan 2013 and 3 Jan 2013. See the following for more details.

http://info.sgx.com/webcoranncatth.nsf/V...7004BDB7F/$file/Disclosure_of_Dealings_Wheelock.pdf?openelement

http://info.sgx.com/webcoranncatth.nsf/V...80040E6EB/$file/Disclosure_of_Dealings_Wheelock.pdf?openelement

Wheelock now controls 16.51% while Simon now controls 63.972%. SC Exec director owns 3%. In total, they own 83.482%.

Looks like Wheelock is helping Simon to move towards suspension of trading in SC Global shares so that they can discuss what their needs are privately.

Simon has already indicated that he will not raise the offer price, ruling out a better offer at least for 1 year though he can continue to extend his offer period.

Unless anyone is happy to own a delisted entity, any potential windfall from an improved deal is unlikely to materialise as long as SC Global shares continue to trade.

Very interesting General Offer.

Wheelock is top bidder for Ang Mo Kio Avenue 2 site, at S$550 million or S$789.89 psf and the breakeven price estimated by Square Foot Research is ($PSF)1,243.4. Hence, the selling price will be around S$1,500 psf.

See the following for more detailed.

http://www.businesstimes.com.sg/breaking...e-20130108
http://www.ura.gov.sg/pr/graphics/2013/pr13-02a1.pdf

Another development, wheelock has made another 1,205 lots of purchased of SC Global shares and the company shareholding is now crossing 17% mark.

http://info.sgx.com/webcoranncatth.nsf/V...D0043F5D9/$file/Wheelock_Disclosure_of_Dealings.pdf?openelement
http://info.sgx.com/webcoranncatth.nsf/V...D0043F5D9/$file/Wheelock_Disclosure_of_Dealings.pdf?openelement

Looks like Wheelock cannot take it anymore when everyone (really, everyone) is making piles of money from the Great Singapore Property Boom while they sit there looking at their pile of cash growing mouldy by the day.

(08-01-2013, 10:36 PM)thefarside Wrote: Looks like Wheelock cannot take it anymore when everyone (really, everyone) is making piles of money from the Great Singapore Property Boom while they sit there looking at their pile of cash growing mouldy by the day.

Wheelock used to buy lands only when market was down.
Eg scott shopping centre
It was under the stewardship of the late MD.

So, am surprised to see the bid at such place like ang mo kio ave 2.

Things have changed.......

If locations such as Ang Mo Kio Ave 2 (not so near MRT) is going to sell at $1,500 per sq ft, Wheelock must have much higher rates for central locations. That's why Wheelock is holding on to its SC Global shares because it opines that the offer price of $1.80 per share is too low!

(08-01-2013, 10:36 PM)thefarside Wrote: Looks like Wheelock cannot take it anymore when everyone (really, everyone) is making piles of money from the Great Singapore Property Boom while they sit there looking at their pile of cash growing mouldy by the day.

(08-01-2013, 10:06 PM)ngcheeki Wrote: Wheelock is top bidder for Ang Mo Kio Avenue 2 site, at S$550 million or S$789.89 psf and the breakeven price estimated by Square Foot Research is ($PSF)1,243.4. Hence, the selling price will be around S$1,500 psf.

See the following for more detailed.

http://www.businesstimes.com.sg/breaking...e-20130108
http://www.ura.gov.sg/pr/graphics/2013/pr13-02a1.pdf

Another development, wheelock has made another 1,205 lots of purchased of SC Global shares and the company shareholding is now crossing 17% mark.

http://info.sgx.com/webcoranncatth.nsf/V...D0043F5D9/$file/Wheelock_Disclosure_of_Dealings.pdf?openelement
http://info.sgx.com/webcoranncatth.nsf/V...D0043F5D9/$file/Wheelock_Disclosure_of_Dealings.pdf?openelement

I am really starting to wonder if prices of $1200-1500psf at sub-urban areas is the new norm for condo prices, are there really so many rich people in singapore to soak up all these supply?

(08-01-2013, 11:55 PM)Louhan Wrote: If locations such as Ang Mo Kio Ave 2 (not so near MRT) is going to sell at $1,500 per sq ft, Wheelock must have much higher rates for central locations. That's why Wheelock is holding on to its SC Global shares because it opines that the offer price of $1.80 per share is too low!

(08-01-2013, 10:36 PM)thefarside Wrote: Looks like Wheelock cannot take it anymore when everyone (really, everyone) is making piles of money from the Great Singapore Property Boom while they sit there looking at their pile of cash growing mouldy by the day.

Near to the proposed thomson line station at ang mo kio ave 4