Sing Holdings

[Bibi]

It might not be faint-hearted shareholders throwing away their wealth due to fear. It could be they are switching to other minority shareholder friendly, higher dividends, potential higher returns companies. Not vested in sing holdings.

[dreamybear]

..... Against the latest 31Dec19 NAV/share at $0.737, the last done at $0.36 has to be a great buy, especially since Sing Holdings is due to book the approx. another half of the development profit of the practically fully sold Parc Botannia condo project in FY20. Looking at the latest B/S, Sing Holdings will likely emerge as a net cash company in FY20 when the remaining sale proceeds of Parc Botannia are in..
https://links.sgx.com/FileOpen/SHL_FY201...eID=596867

.....

Hi dydx,

I hv not followed this company closely but because I am following property news(hopefully can upgrade one day haha), I came across this article which may be helpful :
".... In January 2020, another article featured a new launch sales table again with Parc Botannia as the top selling project in December 2019 after 49 units sold (“New private home sales in December down 53% from November but up 10.6% from year ago”, The Straits Times, January 15, 2020). But a check on the URA data the following month showed that Parc Botannia has 27 returned units out of 49 units sold. The return rate is 55 percent. Similarly, ....."
https://www.propertysoul.com/2020/02/24/...-launches/

Parc Botannia reference in the result statement in the link in your post   :
"The Group has an ongoing private condominium development at Fernvale Road known as Parc Botannia. As at the date of this announcement, approximately 99% ofthe units have been issued options to purchase, amounting to sales value of about S$722.1million. Revenue from sales will continue to be recognised progressively over time based on construction progress.This project is undertaken by a 70:30 joint venture between the Group and Wee Hur Development Pte."

The statement only mentions up to "options to purchase" stage.

I am unable to find further details on return units in URA so I am unable to check further. However, just thought this article may be of use to you.

[dydx]

Hi dreamybear,
What you shared from the article is totally new to me, and I am baffled by what is said that buyers forgoing their 5% (of the purchase price) booking deposit or option fee paid by returning the unit booked to the developer. But I seriously don't believe Sing Holdings' management would do something improper in their property sales.

[Behappyalways]

Yes there seems to be a lot of return units or that they double count the option to buy. Nevertheless the project is almost fully sold or should be fully sold by now

http://investideas.net/forum/viewtopic.p...&start=290

[bargainhunter]

Parc Botannia is already fully sold. Even Wee Hur's announcement has confirmed it. What happened for the "what seems to be returned units" is simply a practice called re-issuing of options.

To help upgraders, the developer had offered units which purchasers can re-issue options until they sell their hdb. This is to help upgraders' cashflow as they do not need to pay 12% absd upfront then claim it back later (after they sold their hdb).

[bargainhunter]

https://links.sgx.com/FileOpen/Sing%20Ho...eID=606021

"As at the date of this report, 100% of the units
at Parc Botannia have been issued an option
to purchase, amounting to sales value of
about $730.6 million, and approximately 93%
of these options have been exercised."

So there are a maximum of 55 units which are on long dated options which may be renewed monthly.

[brattzz]

Post 23th March market maddness,

DIVIDENDS Subject to approval by shareholders at the forthcoming Annual General Meeting, the Board is pleased to recommend a first and final one-tier tax exempt dividend of 1.85 cents per ordinary share at current 32cts, yield at close to 6%, why not buy? and insiders have brought chunks at much higher prices than now! :O

Conservative yet good yield i guess!

[bargainhunter]

Post 23th March market maddness,

DIVIDENDS Subject to approval by shareholders at the forthcoming Annual General Meeting, the Board is pleased to recommend a first and final one-tier tax exempt dividend of 1.85 cents per ordinary share at current 32cts, yield at close to 6%, why not buy? and insiders have brought chunks at much higher prices than now! :O

Conservative yet good yield i guess!

Finally got a date for AGM as 20th May.  That means dividend is likely to be in June at the latest.  5.78% dividend yield at 32c

[bargainhunter]

Post 23th March market maddness,

DIVIDENDS Subject to approval by shareholders at the forthcoming Annual General Meeting, the Board is pleased to recommend a first and final one-tier tax exempt dividend of 1.85 cents per ordinary share at current 32cts, yield at close to 6%, why not buy? and insiders have brought chunks at much higher prices than now! :O

Conservative yet good yield i guess!

some shares available at 31.5c today.  5.87% dividend yield.

[bargainhunter]

https://links.sgx.com/FileOpen/Dividends...eID=609615 Sing Holdings 1.85c ex-dividend date is on 26 May and payment date is on 3 June.