Sing Holdings

[cyc]

read from the forum that punggol used to be many pig farms. so as u can guess the fate of pigs eventually..many slaughtering past..thus the fengshui there where waterwoods is situated may not be so fully good. on the other side, it is bound protectedby the river which is good

With its proximity to the river, more than 40% of the total units were sold. Without the river.......it could have been worse.

[BestPrice]

Received a reply email. I think I will keep the content to myself for the time being

Let me make a guess.

Considering that the share price of Sing Holdings has fallen substantially and might hit bottom this year and hover around the low price, boss Lee (想通了) and decided to include the following in the coming AGM:

ORDINARY RESOLUTION: THE PROPOSED ADOPTION OF THE SHARE BUYBACK MANDATE

He also understand that get the Share buyback Mandate passed in the coming AGM he has nothing to lose and whether eventually he buy back any shares in another thing.

If my guess comes true, Behappyalways will Bealwayshappy.

[cyc]

Share buyback will definitely sustain the price, but at what price is considered attractive enough for LSH to enter the market to buy back ? He could have called an EGM and done so last year to bolster investors confidence if he considered the stock to be undervalued.

2014 results will be uninspiring considering the belated launch of Robin Residences, cooling measures still in place and depletion of its land bank. Assuming there is a good response to the sales launch of Robin Residences in June, FY15 will definitely see an improved performance over FY14 in terms of revenue and profit recognition.

[CY09]

Revenue recognised for FY14 may be higher than FY15. I remembered revenue for private property is recognised by its stage of progression and not everything on TOP. In addition, Robin Residence is expected to TOP only in 2016. Fellow people may correct me as I am not quite sure how revenue is recognised for ppty developments

Secondly, I maintain my view that approx. 70% units of Waterwoods will be sold upon TOP UNLESS Sing Holdings/UE do more aggressive marketing. In my personal view, I am not really keen in mgmt. using more of shareholder's money to buy more land.This mgmt. is not that good and shareholder friendly; Failure in understanding the EC market, having to raise cash in 2009 "to fund" its property development, Sitting on Robin Residence for too long.

Reason why I invested is that its an asset play who is sitting in too deep a discount to its RNAV. (hoping the company converts all its assets to cash and being stuck with too much cash, return it to shareholders or delist)

[cyc]

Yes, revenue recognition is based on percentage of completion method for residential properties, unlike ECs, industrial & commercial properties.

Sing holdings has started construction in Q2 or Q3 last year. We will need the property experts in this forum to project the estimated percentage completed from Q2(2013) to Q4(2014). If it's going to TOP in 2016, my view is that more revenue would be booked in 2015 & 2016 than 2014. Assuming 90% of Robin Residences can be sold out by TOP, I estimate it can achieve a NP of $59 million to be spread out from 2014 to 2016 (assuming $2400 psf sales price and 20% net margin). If my computation is wrong, please correct me as I have rudimentary knowledge on finance stuff.

The only investment merit for this company is the steep discount to RNAV (now it's already trading at a 35% discount to its current NAV). The other catalyst to drive the stock has to be higher profits (not lower profits). The price was holding well in 1st half of last year due to higher profits, but gradually dropped owing to the weak 2nd half results.

For sure, H1(2014) results will pale in comparison to H1(2013) results. One can only hope for a good turnaround in H2(2014) as compared to the 1st half results.

LSH is probably folding his arms, waiting for the opportune time to strike. Based on past records, he would purchase shares in the open market ever year. It's just a matter of when, not IF. His last purchase at around $0.43 was in Feb 2013, fully aware that the 1st half results would be good.

[ngcheeki]

Sing Holdings is one of the few stocks mentioned in the following article whereby 2/3*Net current asset per share (i.e. 42 cents) less than the current share price (36 cents). By the way, Sing Holdings has returned to positive cash flow in FY2013.

http://www.fool.sg/2014/02/21/are-these-...ood-value/

vested

[CY09]

Sing Holdings is one of the few stocks mentioned in the following article whereby 2/3*Net current asset per share (i.e. 42 cents) less than the current share price (36 cents). By the way, Sing Holdings has returned to positive cash flow in FY2013.

http://www.fool.sg/2014/02/21/are-these-...ood-value/

vested

"In a nutshell, companies that could pass through the Net-net screen are likely to be ones that are facing large operational difficulties or that might carry very high business risks".

Sing Holdings is facing a low degree of operational difficulties. However, the main reason for its net-net status is shareholder unfriendliness, perhaps something to inform the author

[Behappyalways]

Top 5 most HATED undervalued stocks?

hee hee.........

patience........

[cyclone]

hee hee.........

patience........

Hmm, It's been 4 years. The share price is going nowhere, it's even under water for me.
Probably will be like this in the next 4 years.
As specuvestor often said : asset, business, structure.
Asset => excellent
Business => ??
Structure => ?????

<still vested, much reduced now, not a call to buy or sell>

[Behappyalways]

well my suggestion is to write to the management else they might be thinking they are doing ok......if one man writes, they might think he is the odd one out and everyone else are happy......they are decent people so it is ok to email them and say ni hao

http://www.youtube.com/watch?v=ODY3uMkiNrs