Tuan Sing Holdings

(05-07-2013, 12:56 AM)Clement Wrote: Hi, not sure if this is the correct forum to share this. From my experience, shares like Tuan Sing tend to rise based on "play" and of course stock specific news. In general illiquid small caps do not tend to rally when blue chips are cheap.

Ya..I am just as puzzled, this is quite an illiquid counter, even if Market realize the value, but given the low liquidity of this stock...capital appreciate seems difficult and the catalyst of high dividend is not there as well. How will the price go up, if buying and selling are in low quantity and dividend is not good?

Forgive me i am just plain ignorant.

the owner does not look shareholder friendly at all.

it has trap written all over it.

check other companies it owns.

(05-07-2013, 06:56 PM)cheeseburger Wrote:

(05-07-2013, 12:56 AM)Clement Wrote: Hi, not sure if this is the correct forum to share this. From my experience, shares like Tuan Sing tend to rise based on "play" and of course stock specific news. In general illiquid small caps do not tend to rally when blue chips are cheap.

Ya..I am just as puzzled, this is quite an illiquid counter, even if Market realize the value, but given the low liquidity of this stock...capital appreciate seems difficult and the catalyst of high dividend is not there as well. How will the price go up, if buying and selling are in low quantity and dividend is not good?

Forgive me i am just plain ignorant.

Hi, I think few would dispute that Tuan Sing is undervalued. If you have the patience just collect at the low prices and just put a limit order to sell at the higher end of the trading range. While all of us would love to hold till near intrinsic values, there is an opportunity cost of being stuck in a non-moving stock.

Tuan Sing should report results later this week.

Another decent set of results reported by Tuan Sing group. Looking forward, profits are likely to go up further from progressive profit recognition of SPR and Sennett Residences

292 out of 332 units sold for Sennet Residences.

Also, Only 20 units left in Seletar Park Residences.

Demolition for RT will be completed by Q4 2013

Morgan ups ante in Hyatt stoush
BY:BEN WILMOT From: The Australian August 26, 2013 12:00AM
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SYDNEY'S claim to Australia's largest hotel sale could be challenged if Melbourne's iconic Grand Hyatt hits the market amid a dispute between owners Morgan Stanley and Singapore-listed Tuan Sing Holdings.

A long-running spat between the pair -- who together hold equal stakes in the Grand Hotel Group, which owns the Grand Hyatt Melbourne and Hyatt Regency Perth -- has worsened with Morgan Stanley serving writs on its partner.

After months of behind-the-scenes deadlock, Morgan Stanley is seeking, on behalf of the funds invested in the hotel property venture, an order that an independent third party be nominated under the security-holder agreement between Tuan Sing and its own Kara Investments, "to conduct a joint sale of all the securities in Grand Hotel Group".

The pair's two five-star hotels are worth more than $500 million and the market is running hot after last week's sale of the 531-room Four Seasons Hotel Sydney to South Korea's Mirae Asset Global Investments set a benchmark for a single hotel

of $340m, which Morgan Stanley may seek to top with the offer of the 547-room Melbourne

hotel.

The offer of the hotels as a pair may draw in parties from Asia that want to set up in Australia on the back of existing corporate structure, and Singaporean giant Ascendas is thought to have reviewed the idea.

Equally, the Perth property could be carved off to one of the local buyers that have made the running in recent hotel WA deals.

Morgan Stanley has for a long time wanted to sell the hotels owned by Grand Hotel Group to capitalise on the fevered state of the hotel property market and to return funds to its investors.

The venture has reaped healthy returns already by disposing of Hyatts in Canberra and Adelaide for about $155m in 2008.

Tuan Sing, which in 2006 worked with Morgan Stanley to take the then listed Grand Hotel Group private, said it "will defend the claims brought by the plaintiffs".

The group's reputation as a tough party to work with goes back to the days when it held a major stake in the then-listed Grand Hotel Group.

In the six months to the end of June, Grand Hotel Group posted revenue of $64.5m, in line with the same period last year.

But net property income dipped 5 per cent to $20.1m because of a lower contribution from hotel operations, which was offset partly by higher contribution from non-hotel rentals.

The combined revenue per available room -- a measure of hotel profitability-- reported by Grand Hyatt Melbourne and Hyatt Regency Perth edged down 1 per cent year-on-year as a result of a marginal decrease in occupancy and room rates.

The drop was mitigated partly by higher food and beverage revenue as compared with that for last year.

After deducting finance costs and deferred tax provision at the investment holding level, Tuan Sing's hotels investment contributed a profit after tax of just $1.2m, and it appears to want to keep owning them.

The hotels, run by Hyatt International, would be keenly sought by offshore investors as they chase exposure to hotels that serve the business sector, rather than leisure-based resorts.

The fight between the investment banking heavyweight and Singaporean group came into public view in January when Tuan Sing warned the disagreement with Morgan Stanley "may or may not" lead to arbitration or legal proceedings.

http://infopub.sgx.com/FileOpen/TBA-1310...eID=260831

Quote:

UPDATE ON AWARD OF TENDER - GILSTEAD COURT

The Company wishes to inform that the Purchaser is consulting its legal counsel on its legal rights relating to the Claim, and that the Purchaser is of the view that the allegations made by the Office Bearers against the Purchaser including the Claim are without merit and will defend the Purchaser’s legal position and reputation vigorously. The Purchaser shall seek redress for all costs and damages. The Company understands that to-date, the Application by Office Bearers has not been served on the Purchaser.

For the record, the Purchaser denies that it has breached the Contract as alleged in the Application by Office Bearers or at all. The Offer was made to the Sale Committee, acting for all owners of Gilstead Court. This Offer lapsed after 1 October 2013. The Purchaser will continue to adhere to the obligations of the Contract pending the decision of the High Court.

(not vested)

It would be a good thing if the sale doesnt go through. Tuan Sing still has Cluny park Residences to fall back on.

Condo 40% sold before launch

Published on Mar 07, 2014


An artist's impression of the 52-unit freehold Cluny Park Residence, which will be launched for sale tomorrow. The high-end condo's location - it faces the Botanic Gardens - is a major selling point. -- PHOTO: TUAN SING

A NEW condominium project in the tony Cluny Park area could be a breath of fresh air for the moribund high-end market when it is launched for sale tomorrow.

The 52-unit freehold Cluny Park Residence opened for preview late last year and has received commitments for 20 units so far, its developer Tuan Sing told a briefing yesterday.

Consultants said the take-up rate of nearly 40 per cent was strong and signalled that the ultra-rich were still keen on projects with attractive locations.

Calling it a "surprisingly strong performance", Savills Singapore research head Alan Cheong said the healthy sales reflected the project's plum Cluny Park Road location.

"You're looking at the ultra rich, who are masters of being able to read the market. They could be buying because they read it as bottoming or close to bottoming out," he added.

The condo faces the Botanic Gardens and is next to the French embassy. It is near prestigious schools such as Nanyang Primary School and Singapore Chinese Girls' School. Prices begin from $2.3 million for a 754 sq ft two-bedder and go up to $8.3 million for a 2,842 sq ft four-bedroom penthouse - or a price range of $2,920 per sq ft (psf) to $3,050 psf. The project has only two-bedders and four-bedders.

Chief executive William Liem said at the project's Dempsey Road showflat yesterday that the four-bedroom units were more popular, "which we didn't expect". Of the 20 units sold, six are two-bedders and the rest are four-bedders. He added he himself had picked up a four-bedder.

R'ST Research director Ong Kah Seng said the project's price point of about $3,000 psf was attractive, given its location and exclusivity. Although smaller units with cheaper total prices may be generally selling faster now, "buyers with strong financing capacity will still prefer quality large units in well-conceptualised projects and localities", he said.

"They understand that in the longer term, it will be easier to extract intrinsic resale value from these units, but this is not quite so for small units in high-end projects or prime projects with too many units."

Cluny Park Residence is designed by SCDA Architects, which is behind other posh freehold projects such as The Marq on Paterson Hill and Botanika at Holland Road. It is expected to be completed in September 2016.

Another small mixed-use project on Balestier Road will also open for preview tomorrow. Ascent @ 456, developed by TA Corp, has 28 residential units. These are all three-bedders ranging from 689 sq ft to 829 sq ft.

Agents said they could be priced from more than $900,000 to around $1.2 million, or more than $1,400 psf.

MELISSA TAN