Sing Holdings

Good evening everyone.

Shake head. Throw in Free Fridge & Washer $5,000/- Discount to move units.

176 units Waterwoods sold. Left 197 units.

http://www.executivecondominium.sg/Waterwoods.html

(21-03-2014, 03:11 PM)header Wrote: Dear all

I too have sent the letter earlier to the company and received the reply below. Further to that, I sent another email to the company. See below. You may want to also send a follow up email to the company to tell them reserving money for acquisition is not excuse not to do a share buyback.
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Dear Puay Kuan

Thank you for the reply. I noted that Sing Holdings share price has come down. I would like to ask for the remuneration of directors and key management over the same period, including the latest FY. In addition, I kindly request the Board Remuneration Committee to explain how the remuneration of key management are determined and what is the policy.

On your/ the Board stated reasons under point 1 to 4, I wish to highlight that the Board should view share buyback on the same basis any other land acquisition. This is because substantial value of Sing Holdings now is in the Robin Road site, as you are aware. Buying the company shares now will be no different from buying any other raw land, except that the Board is most familiar with the Robin Road project & the company's status and the company can buy at a substantial discount to NAV/ RNAV. In fact, on risk/ reward basis, from the Board's perspective, share buyback should be most attractive compare to other land acquisition. As such, the need for business expansion is no argument to reject a share buyback, from shareholders's perspective.

On that basis, the Board should also consider tapping on bank debt for share buyback, as that is what the company will do for land acquisition. Be that as it may, I will be grateful if you can share what is the company's cash position after full collection from The Laurel project.


Thank you.

Hi header,

Just curious has Sing Holdings replied you on this? Interested to know their response

Hi CY09

This is the reply from the CFO. I did not have the time to look compare the remuneration of dirs and key mgmt yet. Anyone can help? I am disappointed on her "seek understanding" of rationale for no share buyback. Anyone planning to attend AGM? I may if I am free on that day.


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The remuneration of directors and key management for the last two financial years will be disclosed in the Company’s annual report for the financial year ended 31 December 2013, which will be distributed to all shareholders in due course. The remuneration policy will also be stated in the corporate governance report therein.

On share buyback, the Company has laid out its stand clearly and explained its rationale in our email to you on 18 March 2014. We seek your kind understanding on the matter.

Thank you.

Regards
Puay Kuan

AGM dates is out. Back to the old venue where XO Carrot cake is served

Meeting Date and Time 23/04/2014 15:30:00
Venue: The Executive Club, 65 Chulia Street #33-01 OCBC Centre
Singapore 049513

http://infopub.sgx.com/Apps?A=COW_CorpAn...0NWsqiSwhM

Good evening everyone.

179 units Waterwoods sold. Left 194 units.

http://www.executivecondominium.sg/Waterwoods.html

(08-04-2014, 07:32 PM)kbl Wrote: Good evening everyone.

179 units Waterwoods sold. Left 194 units.

http://www.executivecondominium.sg/Waterwoods.html

progress not too bad leh, another 8 more units will make it 50% sold

(08-04-2014, 09:54 AM)ngcheeki Wrote: AGM dates is out. Back to the old venue where XO Carrot cake is served

Meeting Date and Time 23/04/2014 15:30:00
Venue: The Executive Club, 65 Chulia Street #33-01 OCBC Centre
Singapore 049513

http://infopub.sgx.com/Apps?A=COW_CorpAn...0NWsqiSwhM

XO carrot cake? never tried before..how does it taste like?

2013 Annual Report - Page 68

Details of development properties as at 31 Dec 2013

1. Robin Residences - Stage of completion - 10%
Expected date of completion - 2015

2. Waterwoods - Stage of completion - 10%
Expected date of completion - 2015

Page 70

Trade Receivables - $107m unbilled receivables (see below)

(02-04-2014, 11:03 AM)Behappyalways Wrote: http://www.ura.gov.sg/lad/HBG/progressPayments.htm

That meant it should be receiving the remaining 15% of the total gross proceeds from The Laurels. It should collect about $110m cash (15% of $700m total gross proceeds plus 2 units sold in 1Q2014). The other partner's 30% stake in The Laurels will receive $33m leaving the company with $77m or 19 cents per cash(still got to subtract some construction costs).

(01-04-2014, 10:57 PM)pwgc99 Wrote: CSC had obtain on 28/03/2014 for The Laurels

In page 61 of AR, there is an "allowance for impairment of trade receivables" of 255K in FY2013 and its looked like there is likely default of payment for units in "The Laurel" project.

Another new information to me, in page 5 of chairman statement stated that BizTech Centre is just crossed the upcoming Mattar MRT station. The fair value of BizTech Centre will be increase once the MRT Station is built.

182 units Waterwoods sold. Left 191 units.