Sing Holdings

[old friend]

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

Waterwoods 227 units sold (74% sold)

[propertyinvestor]

Boss Lee has mysteriously stop buying again. And its not even blackout period yet.

[opmi]

Maybe privatisation offer coming. Then no need to bother with minority investors.


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[propertyinvestor]

Everybody keeps talking about privatisation. Its just not going to happen knowing how Boss Lee operates. Privatise for what? Shareholders are paying his salary anyway!

[Behappyalways]

Waterwoods hit 75% sold....

LAND PARCEL AT LORONG PUNTONG
http://www.ura.gov.sg/uol/media-room/new...4-61a.ashx

[kbl]

Good afternoon every1.

Update: Robin Residences Sep 2014
Cumulative Units Sold to-date: 21
Median Price ($psf) in the Month: 2,382
Units sold in the month: 7
Cumulative Units Launched but Unsold: 113
Total Number of Units: 134


Update: Waterwoods EC Sep 2014
Cumulative Units Sold to-date: 272
Median Price ($psf) in the Month: 820
Units sold in the month: 21
Cumulative Units Launched but Unsold: 101
Total Number of Units: 373


https://www.ura.gov.sg/realEstateIIWeb/p...rch.action

[old friend]

sold 301 units Waterwoods as at 13/11/2014. More four bedrooms units sold.

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

[ngcheeki]

Some updates on Sing Holdings development projects.

Update: Robin Residences Nov 2014
Cumulative Units Sold to-date: 28
Median Price ($psf) in the Month: $2,379
Units sold in the month: 4
Total Number of Unsold Units: 106
Total Number of Units: 134
Percentage Sold: 20.9%


Update: Waterwoods EC Nov 2014
Cumulative Units Sold to-date: 306
Median Price ($psf) in the Month: $795
Units sold in the month: 21
Total Number of Unsold Units: 68
Total Number of Units: 373
Percentage Sold: 81.77%

Latest updates on number of units sold for Waterwood on 13 Dec 2014
Total Number of sold Units: 313
Total Number of Unsold Units: 60
Total Number of Units: 373
Percentage Sold: 83.91%

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

Recent share purchase made by F. H. Lee Holdings (Pte) Limited

1. 27 Nov 2014 purchase made by F. H. Lee Holdings (Pte) Limited for 33,000 @ 33.5 cents

http://infopub.sgx.com/FileOpen/_FORM3_2...eID=326295

2. 09-Dec-2014 purchase made by F. H. Lee Holdings (Pte) Limited for 75,000 @ 31.5 cents

http://infopub.sgx.com/FileOpen/_FORM3_1...eID=327846

[Shrivathsa]

Earnings announced, net loss of 200K SGD for 1st Half, shares down on high volume, i.e. higher than average volume.

From report "The Group expects to report a loss for the next half year as revenue from Waterwoods will be recognised only upon issuance of the Notice of Vacant Possession after TOP is obtained."

I guess this means that full year will show a loss.

The big question mark will be whether there is a dividend in April 2015, it does not seem logical for them to provide a dividend, when they are making a loss.

However, from 2006 till date, they have been issuing dividends. So, they might want to continue that.

Let us think aloud how Mr. Market might value it.

What we know for is that NAV is 54.76 cents.

Assuming that it hits lowest PTB of last five years, shares can slide to 33 cents.

Now, if we add a 10% hair-cut to account for lack of dividend, which means our holding period will have to be at least 1.5 years before seeing anything, the share can slide to 30 cents.

Yes, you might argue that the share intrinsic value is at least 38 cents, but that is over 20 years.

In the next 1.5 years, it might trade to as low as 30 cents.

This assumes that they cut dividend to zero.

Personally, I hope they do, as it will let the stock become cheaper.

Well, that did not take one and a half years.

I estimated that it would slide down from 38 cents to 30 cents over a year

It has reached 30.5 cents as of today.

[CY09]

Its my worst investing mistake this year. While it is selling for below NAV and the potential earnings prospect of Waterwoods EC, the ability of minority interests to reap their fair share of rewards is not high. However, things may change when the Lee family increases stake to above 70%. Learnt a valuable lesson from this coy and the importance to view the attractiveness of an investment through the perspective of an passive minority interest

<not vested>