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20 June 2020 eAGM Q&A CDL
https://links.sgx.com/1.0.0/corporate-an...2fc91ec2a0
Question on Balance sheet inventories – how much relates to completed units that are unsold? Is there a government regulation regarding when these units must be sold and what proportion of unsold inventory is affected by such regulation?
Answer:
The majority of our unsold inventory are projects that are under construction with most projects expected to obtain their Temporary Occupation Permits (TOPs) only from 2022 onwards.
The six-month extension given by the Singapore Government (detailed in the response under B4) is timely as the unprecedented circuit breaker measures have resulted in manpower and supply chain challenges for the industry. It provides some buffer time to accommodate any delays.
The only ABSD deadline the Group initially faced this year is for our Forest Woods project, which is 99% sold with only three units remaining. Due to the extension, the deadline is now pushed back to May 2021. The Group is confident of clearing the inventory within this timeframe.
Reminder: eAGM 24 Jun 2020, 3pm
Pre-reg before 21 Jun 2020, 3pm
(audio and visual)
(audio only)
Stay home and stay safe, valuebuddies.
https://links.sgx.com/1.0.0/corporate-an...2fc91ec2a0
Question on Balance sheet inventories – how much relates to completed units that are unsold? Is there a government regulation regarding when these units must be sold and what proportion of unsold inventory is affected by such regulation?
Answer:
The majority of our unsold inventory are projects that are under construction with most projects expected to obtain their Temporary Occupation Permits (TOPs) only from 2022 onwards.
The six-month extension given by the Singapore Government (detailed in the response under B4) is timely as the unprecedented circuit breaker measures have resulted in manpower and supply chain challenges for the industry. It provides some buffer time to accommodate any delays.
The only ABSD deadline the Group initially faced this year is for our Forest Woods project, which is 99% sold with only three units remaining. Due to the extension, the deadline is now pushed back to May 2021. The Group is confident of clearing the inventory within this timeframe.
Reminder: eAGM 24 Jun 2020, 3pm
Pre-reg before 21 Jun 2020, 3pm
(audio and visual)
(audio only)
Stay home and stay safe, valuebuddies.