Sing Holdings

[ngcheeki]

JV with UE E&C Ltd for their property development project in Pungol EC to share risk which I think is a prudent move!!

http://info.sgx.com/webcoranncatth.nsf/V...E0033501C/$file/JointVenturePunggol.pdf?openelement

[Share Investor]

JV with UE E&C Ltd for their property development project in Pungol EC to share risk which I think is a prudent move!!

http://info.sgx.com/webcoranncatth.nsf/V...E0033501C/$file/JointVenturePunggol.pdf?openelement

UE E&C has a 30% share and its subsidiary company Great Earth doing the construction work.

[Behappyalways]

Find it strange.....

The first surprise was when Sing Holdings bidded for the punggol EC. That meant that it was 'hungry' after several unsuccessful bids.

This punggol project is not really a big one in terms of capital investment by Sing Holdings and with The Laurels' TOP soon and Robin launching soon, it is not gonna cause any financial distress to the company.

strange is that why 'hungry' Sing Holdings would want to share with Maxdin and in the process i believe will outsource the construction to Maxdin. What value-add does Maxdin brings?

If the picture is the other way round in which Maxdin got the plot of land but allows Sing Holdings to come in with investment but agrees to outsource the construction to Maxdin then that i can understand since Maxdin is more of a construction company than property developer....

Sing Holdings indeed had try to JV with other developers to bid plot of land above $300m without sucess but to JV for a $162m EC project(lower construction cost).....????

maybe some more news in the making....or some more JV etc...let's see....

JV with UE E&C Ltd for their property development project in Pungol EC to share risk which I think is a prudent move!!

http://info.sgx.com/webcoranncatth.nsf/V...E0033501C/$file/JointVenturePunggol.pdf?openelement

[Behappyalways]

Hit post financial crisis high today......looks like a breakout...........patient....

Let's look at some financials.......

EPS for 3Q2012 - 2.67cents
EPS for 9mths2012 - 6.82 cents
NTA for 3Q2012 - 47.25 cents

Valuation of trading properties - $560psf or a total of $29.84m
They are selling at market $850psf or a total of $45m. Under valuation of $15m or around 3.75 cents per share.

If grp's 4Q2012 earnings are same as 3Q2012 and adding 2 cents(out of 3.75 cents) of revaluation of trading properties, earnings for 4Q2012 could be around 4.5 cents.(2.67+2)

Hence estimated FY 2012 - 11.3 cents (6.8+4.5). PE of 4......i want bonus and good dividend!!!!
estimated NTA - 51.75 cents.

NAV is about 65 cents and when Robin is launched, NAV might go up to 80 cents.

[yawnyawn]

Looking forward for a higher dividend than 1c(prior FY) in this coming April.

Minority shareholders are not being rewarded well enough

[Behappyalways]

ai yo we bought 150 lots 2 days ago and still so many sellers.....

the smart boss refused to do share buyback and keep crying father and mother about underlying low price.....when there is a hit on share price due to the cooling measures, mgmt should come out to buy and support the share price and if they are not willing to use their own money then share buyback is a useful tool......no point cying father and mother when tools available are not used or refused to be used....

Looking forward for a higher dividend than 1c(prior FY) in this coming April.

Minority shareholders are not being rewarded well enough

[propertyinvestor]

minority shareholders should not complain because they are buying into a company with strong profitability into the next few quarters. on top of that, Sing Holdings is unaffected by the new EC cooling measures as they were bought under the old rules.

[Behappyalways]

you are back


c) Developers of future EC sale sites from the Government Land Sales programme will only be allowed to launch units for sale 15 months from the date of award of the sites or after the physical completion of foundation works, whichever is earlier.

minority shareholders should not complain because they are buying into a company with strong profitability into the next few quarters. on top of that, Sing Holdings is unaffected by the new EC cooling measures as they were bought under the old rules.

[propertyinvestor]

you are back


c) Developers of future EC sale sites from the Government Land Sales programme will only be allowed to launch units for sale 15 months from the date of award of the sites or after the physical completion of foundation works, whichever is earlier.

minority shareholders should not complain because they are buying into a company with strong profitability into the next few quarters. on top of that, Sing Holdings is unaffected by the new EC cooling measures as they were bought under the old rules.

I went in to buy Tuan Sing again at 33.5c

[Behappyalways]

Went thru a few property counters and recorded their price performance......

1. City Dev
30 Dec 2011 - 8.90
18 Jan 2013 - 11.43 (up by 28.4%)

2. Hiap Hoe
30 Dec 2011 - 0.42
18 Jan 2013 - 0.625 (up by 48.8%)

3. Heeton
30 Dec 2011 - 0.36
18 Jan 2013 - 0.61 (up by 69.4%)

4. Ho Bee
30 Dec 2011 - 1.02
18 Jan 2013 - 1.895 (up by 82.8%)

5. Koh Brothers
30 Dec 2011 - 0.18
18 Jan 2013 - 0.285 (up by 58.3%)

6. Roxy
30 Dec 2011 - 0.26
18 Jan 2013 - 0.60 (up by 130.8%)

7. SC Global
30 Dec 2011 - 0.99
18 Jan 2013 - 1.80 (up by 81.8%)

8. Sing Holdings
30 Dec 2011 - 0.28
18 Jan 2013 - 0.40 (up by 42.9%)

9. Wing Tai
30 Dec 2011 - 0.94
18 Jan 2013 - 1.87 (up by 98.9%)

As you can see from the data, Sing Holdings' share price has underperformed compared to most of the other property counters in the list although its fundamentals and PE are attractive compared to the others......why did the share price underperformed? If it continues to underperform, that is one question minority shareholders need to ponder and ask during the next AGM..........