Posts: 2
Threads: 0
Joined: Jan 2013
Reputation:
0
Sing Holding is still a family business at large; majority of shareholders are family members. They even buy their own development.
Hence, the company is very risk averse and conservative. CEO Lee is certainly under pressure to grow the company but there are just too many stronger and hungrier competitor out there.
Posts: 2,631
Threads: 234
Joined: Sep 2010
Reputation:
28
The ceo specifically said that they won't launch the site till the revision of the plot comes out in feb 2013...shows the level of confidence of the upward revision.
Hmmm...Feb......should i buy some more ?
(19-04-2012, 10:17 AM)Jacmar Wrote: (18-04-2012, 09:01 PM)ngcheeki Wrote: Robin
======
200m from steven MRT completed by 2015 to 2016
Total price is S$176.33 million
Total Size: 135,462.4 square ft
land price: S$1,302 psf
Construction Cost: Around $450
Expected ROI: 15%
High end property construction cost is around $450 to $500 psf including show flat cost.
Launched date: Not Known
Reason: Construction of the new development will probably commence after Q1 2013. The company's is to complete the construction by the time the MRT is completed
by 2015 - 2016. However, the main reason of delay I speculate in launching the robin is because of 'reliable' information that Steven MRT station will be an i
MRT interchange for 2 MRT lines and there is a high possibility that the government will revise the plot ratio of the land. This is according to the question asked by a lady who was a former stock analyst if I'm wrong from BNP Paribus. For your information, the current plot ratio is 1.4 and the neighour
ing unit is 2.1. The possibility of revision of plot ratio will only be known by Feb 2013. (5 Years Master Plan, last master plan was reviewed at 2008)
On the issues of enhancing the shareholder value, the directors are exploring the options of measures to enhance shareholder value when the result is good
including using bonus share and special dividend like during FY 2007 with the issue of special dividend. However, CEO that share buyback is unlikely to behappened because of 2 reasons: 1. Property development bussiness required a large amount of cash to pay contractor or buy land 2. Share buyback will decrease
liquity of the share and artifically prop up the share price. Loyal shareholder will suffer in the event that share buyback end when share price drop.
(18-04-2012, 05:08 PM)propertyinvestor Wrote: Seems like got fund managers interested in the counters!
Are you refer to the lady in blue? Based on what I overheard, she was formerly an stock analyst from BNP Paribas and she is now managing some funds? By the way, the guy with her if I'm not wrong was someone from AmFraser. There was a question asked by the lady on the stock coverage of Sing Holding and CEO replied that there was in 2008 by KE and philip security. There is a high chance that there might be coverage of sing holding based on their conversation with CEO.
Just my speculation only.
I was probably standing beside you when you were talking to the ceo.
The ceo seems confident that the plot ratio will be revised to at least 2.1 with the possibility of going to 2.8 going by what happens at other site of similar infracture ie 2 mrt lines passing through. If it does goes to 2.8 this means indirectly SH would have bought the land at half price realsing a gain of $176million excluding DC charges.This translate to >$0.40/share!!holy Sh**! vs what is the share price now?
The lady mentioned said she is now managing a family trust and the guy(rich kid) besides her was formerly her client when she was at BNP. He was urging the ceo to start a lobby(and he is willing to help in anyway) to have that site plot ratio changed to 2.8. obviously both are heavily invested in the counter. she said that through her contacts she is going to get SH more coverage by the various fund houses. The ceo specifically said that they won't launch the site till the revision of the plot comes out in feb 2013...shows the level of confidence of the upward revision.
forget about share buyback. he is dead against it but at least is open to special dividend. so while you wait for the launch next year9and hopefully a re-rating takes place), i think we can expect a special div this year(just my take).
the ex-amfraser guy is another guy not with the lady.
Posts: 2,631
Threads: 234
Joined: Sep 2010
Reputation:
28
Contract date Type Unit area (sq ft) Price ($psf) Price ($)
2013-01-17 Factory 797 850 677,450
Posts: 2,631
Threads: 234
Joined: Sep 2010
Reputation:
28
The plus of being a CEO of a listed company is that many minority shareholders would have sold off their shares in the company instead of complaining about the underperformance of the company during the AGM. Hence many CEOs get to hear only the good stuffs ^^
http://www.youtube.com/watch?v=ZRR3gEHLH8M
(18-01-2013, 10:55 PM)Behappyalways Wrote: 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..........
Posts: 586
Threads: 7
Joined: Sep 2010
Reputation:
11
Report from DMG :
Scoop of the Day: The corporate reporting season is currently in full swing. We screen through the listed companies and flag some companies that are poised to do well, with prospects for higher dividend payouts. Sing Holdings, a niche developer focused on the mid-to-high end residential market, does not have an official dividend policy but management intends to pay dividends that are in line with earnings. On all indications, FY12 is likely to be a record year for the company as it progressively recognized earnings from its highly successful Laurels project. As of 9M2012, net profit came in at $27.3m, exceeding the
S$22m for the whole of FY11. On our estimates of S$38m net profit for FY12, and assuming a payout similar to last year (18%), the company could raise its payout to 1.5-2.0 cents/share for FY12, representing a 50-100% hike in dividends. Hiap Hoe, another niche property developer, has been conserving its cash over the last few years as it entered a high-capex phase with several on-going projects, including the hotel-cum-commercial development at Zhongshan Park. We expect cash-generation to improve going forward as these projects near completion or
have already been completed. With higher core earnings virtually in the bag (9M12 net profit of S$44m close to matching FY11’s full year net profit of $46.6m), the company could hike its dividend payment from 0.5cts/share in FY11 to 1- 1.5cts/share for FY12. Pan United Corporation, Singapore’s largest cement and ready-mix concrete supplier, is another candidate that is likely to raise its dividend payout for FY12 (FY11: 3.5cts/share) as core earnings rebounded across its 3 divisions of shipping, port & logistics and building materials. 9M12 net profit of
S$34.3m already exceeded FY11’s full year earnings of S$30m, and with rising free cash flows, we estimate dividends of 4-4.5 cts/share for FY12. (Goh Han Peng)
Posts: 1,119
Threads: 16
Joined: Jan 2012
Reputation:
0
Sell Sing Holdings and buy TUAN SING 
Posts: 103
Threads: 0
Joined: Jun 2012
Reputation:
2
13-02-2013, 06:02 PM
(This post was last modified: 13-02-2013, 06:03 PM by shn.)
I have divested Sing Holding recently and re-invested in other counters as Sing Holding does not pay good dividend. Full Year results have just been announced. The dividend is 1 cents final plus 0.6 cents special dividend. At today's closing price of 43.0 cents, the yield is 3.72% (my target is 6%). Share price may go up tomorrow but no regret for me as I prefer to hold a stock for many years to collect dividends.
Posts: 2,631
Threads: 234
Joined: Sep 2010
Reputation:
28
Full year results are out....
http://info.sgx.com/webcoranncatth.nsf/V...1003535DB/$file/FY2012_results.pdf?openelement
http://info.sgx.com/webcoranncatth.nsf/V...1003535DB/$file/Press_release.pdf?openelement
Glanced thru the numbers.........
one minus is that the increased in dividend payout to shareholders is matched by increased in remuneration to employees and directors....
Quite surprised that they did not revalued their office units(trading properties) while posting good 4Q2012. That meant that the units are still valued at $560psf while they are selling for $850psf....
Looks likely they are going to launch their 2 projects in 2Q2013.....The URA Masterplan 2013 should be out soon and let's see how the company is going to benefit from it....
Presently, a project(Robin Suites) near their Robin Site is selling for $2500++psf so their Robin project should do well
http://www.squarefoot.com.sg/latest-tran...esidential
Let's hope the buzz on the 2 projects and masterplan 2013 will revalue the share price and directors will reward 'long-suffering' shareholders with special dividend and bonus in 2Q2013 or etc......
Posts: 2,966
Threads: 71
Joined: Sep 2010
Reputation:
52
Very good full-year results for FY12 (ended 31Dec12).....
http://info.sgx.com/webcoranncatth.nsf/V...1003535DB/$file/FY2012_results.pdf?openelement [result announcement]
http://info.sgx.com/webcoranncatth.nsf/V...1003535DB/$file/Press_release.pdf?openelement [press release]
As expected, the 70%-owned The Laurels condo project - as at 13Feb13, 96% sold for a total contracted sum of $681.7m - has been a solid earner. As approx. 70% of the above sum had been recognised as revenue, the balance approx. 30% or $204.5m will be progressively recognised up to 3Q2013 - the target for TOP. Using the same GPM of 27.3% recorded in 4Q-FY12, we can reasonably expect Sing Holdings to record a total cummulative GP of approx. $55.8m in 1Q through 3Q of this FY13, which should translate to approx. $30.0m in additional NP - equivalent to approx. $0.075 in additional EPS - attributable to Sing Holdings shareholders. By adding this assured EPS that is coming in by 3Q-FY13 to the latest (31Dec12) NAV/share of $0.5068, we get an adjusted NAV/share of $0.5818.
Of course, we should also try to estimate the future development profits from the yet-to-be-launched 100%-owned Robin Drive / Robin Road freehold condo project and the 70-owned Punggol Field Walk / Punggol East EC project. While this will be a more difficult task under the current market conditions, I guess the least we should bear in mind is that every $40.0m in new NP to be derived from these 2 development projects will add approx. $0.10 in EPS and to NAV/share in the next few years.
So Sing Holdings is actually quite a nice residential property developer and business!
Posts: 457
Threads: 7
Joined: Dec 2012
Reputation:
5
(13-02-2013, 06:02 PM)shn Wrote: I have divested Sing Holding recently and re-invested in other counters as Sing Holding does not pay good dividend. Full Year results have just been announced. The dividend is 1 cents final plus 0.6 cents special dividend. At today's closing price of 43.0 cents, the yield is 3.72% (my target is 6%). Share price may go up tomorrow but no regret for me as I prefer to hold a stock for many years to collect dividends.
i wont really mind a company with 3-4% dividends backed with earnings yield of 10-20%. Personally, i would try to avoid one that pays dividend 6% with earnings yields 6%, eg. sph
|
Homepage
PR Newswire
