Sing Holdings

I wont say the dividend is fantastic but i thought it is still decent, i.e. 4% yield. They probably can easily maintain it for the next 2 years and i think the robin site will make decent sales. People who are desperately selling now seem to think poorly of the robin site.

the plot of land at robin is freehold (you dont find many freehold properties near a mrt) and it is just beside an underground stevens mrt (no noise pollution), with a cold storage at alocassia (very convenient for groceries). Am i missing out something with regards to the robin site? please comment

Interesting the company chose to use almost all the cash to pay down debts instead. Probably, management knows it cant hold too much cash otherwise minority shareholders will query, Lee is probably reading our forum.

They are just manipulating the debt to equity. The management is pretty shrewd but very unfriendly to Minority shareholders as expected

<vested>

yes you got it

the company is doing fine but they are reinforcing the view that they are very unfriendly to the minority interest.....

I think they did quite well in selling 2 more units of The Laurels and the hiring of the new guy probably signal a decision to switch focus....likely the new guy will be focusing on overseas....

when you have underperforming share price, the mgmt. could have use $8m (20m shares out of 400m shares at 40 cents) to do a share buyback mandate....or at least keep dividend stable(what's the difference between 1.5 cents and 1.6 cents....400kk...lol).....but they choose likewise reinforcing the view that they probably don't care about share price.....


This company gonna be a slow burn....as long as cash is still in the company and share price trading at such a discount........the Lees can privatise the company when they want to....just have to sit tight....

by the way...anyone has spare cash $$$$ to do a hostile ^^......quite a good return on investment ^^

(19-02-2014, 08:43 PM)CY09 Wrote: Interesting the company chose to use almost all the cash to pay down debts instead. Probably, management knows it cant hold too much cash otherwise minority shareholders will query, Lee is probably reading our forum.

They are just manipulating the debt to equity. The management is pretty shrewd but very unfriendly to Minority shareholders as expected

<vested>

250M shares are probably not in the Lee hands.

if you can shell out 150M. I am sure you can do a hostile takeover. Also, I don't think the Lees will privatise the company that early. They will take their time and earn big bonuses.

A lesson learnt is that pure property SGX companies held and run by family tend to be very stingy to minority shareholders (in my view). CDL, Sing Holdings, Hong Fok, Hiap Hoe/Superbowl shows it.

As for the results, it is nothing special. Just take note that Q1 will be loss making since they wont be releasing Robin till mid 2014. this brings me to another question, why is the mgmt. holding back so long. We all know that developers will be launching sales tgt in Q2-Q3 and CCR prices are falling, why not act now?

1Q gonna breakeven with 2 units of Laurels sold..

(19-02-2014, 09:16 PM)CY09 Wrote: As for the results, it is nothing special. Just take note that Q1 will be loss making since they wont be releasing Robin till mid 2014. this brings me to another question, why is the mgmt. holding back so long. We all know that developers will be launching sales tgt in Q2-Q3 and CCR prices are falling, why not act now?

$12.6 million dividend paid to non-controlling shareholder of Laurels vis a vis $6 million (1.5 cents) dividend paid to share holders of Sing Holding ---> "Well-done", Management.
Not spending a single cent to do a share buy-back, the cash can be better deployed to reward the minority shareholders considering the underperformance of the stock.

The $12.6m is for the other partner share in The Laurels. Sing Holdings owns 70% stake

Not bad holding a 30% stake in Laurel, the partner get generous dividends in addition to the profit from the sale. Minority shareholder like us received much lower dividends.

The $12.6m is the partner's share of profits.

how come never fall further ah, i am still waiting to buy more, i bought some at 42, some at 37, i would buy more again at 33/34