Sing Holdings

[ngcheeki]

Property Project : The Laurels
Update: Sing Holding March 2011
Cumulative Units Sold to-date: 208
Median Price ($psf) in the Month: $3,068
Units sold in March 2011: 3
Cumulative Units Launched but Unsold: 21

[ngcheeki]

1543 private residential units sold in Mar 2011. Mr Mah going to sweat....

->More property cooling measure is coming since the property sale refuse to cool down???

Personally, I find the latest round of property cooling measure is pretty
hash, 16% Seller Stamp Duty for the first year but somehow there are a lot of rich people around keep buying Singapore properties. Who are actually buying the properties? Could it be the Chinese buyer? Rich Singaporean?

[yeokiwi]

If the foreign investors are willing to hold on for 5 years, there is nothing to stop them from putting the money in Singapore.
Together with the slow appreciation of Singapore currency, it is almost a sure win deal.

Till date, most developers are still rather cautious. You do not see them attempting to snatch Pine Grove or Laguna Park even at the quoted price.

Singapore 1st quarter economy is growing at 8.5%. That is rather shocking and I suppose it will add pressure to inflation and also property prices despite the cooling measures.

[edragon]

Yeah, a bird in hand is worth two in the bush.

[Jon-san]

AGM 3.30pm Today.

Weather Forecast - Dark Clouds

Directors in for a surprise ^^

BHA being very mysterious with this statement.

[freedom]

asking for share buyback mandate?

[ngcheeki]

Today's AGM

Few notes.....

1. Board had a meeting a month ago to decide on share buyback. Conclusion is that they decide not to because they believe that fundamentals will determine share price and share buyback would only prop up the share price short term(PS: I don't agree on this). They felt that cash would be put to good use on buying land rather than on their shares.

2. The Robin Drive plot of land would not be launch so early. The CEO wanted to launch it to coincide with the Stevens MRT. So I think earliest could be next year....(PS: I think the govt supply and possible coming financial crisis gonna show that this is a bad decision)

3. They expect $180m revenue from The Laurels this year. Based on my estimate of 15-20% net profit margin, net profit for this year could be in the $30-36m range.

4. My personal view on the directors is that the company is in safe hands but they don't/(do not know how) to play the market. To create buzz......I wanted to ask them if they would declare a bonus issue if the company do well but I did not ask because like what they said earlier, they believe that the fundamentals would determine share price

Maybe others who attend the AGM would disagree with my notes or want to add his views....

å¿ å¿ ç›´ç›´...........

1. Under current assets of "Investment of quoted equity shares" increased from S$4,000 (FY09) to S$355,000 (FY10) on AR Pg 32. Sing Holdings actually did buy other quoted equity shares. By the way, the company Sing Holdings bought was Sing Post and it was for dividend yield.

2. The CEO did mention that they are interested in doing a en-bloc
on the apartments (16 units) besides the One Robin and Robin Court as well as the purchase the state land.

3. They also expect $8.5 m revenue from BelleRive this year. For "The Laurels" project. The CEO did mention the state of construction progress: One of the blocks foundation has been completed and the other block will be completed by June 2011. Note: 10% of revenue will be recognized base on PPS.

4. AR pg 79, receivables that are impaired, $1,717,000 will be reversed
This is because this amount has been paid the debtor and shall be credited back to the balance sheet.

[ngcheeki]

Property Project : The Laurels
Update: Sing Holding April 2011
Cumulative Units Sold to-date: 209
Median Price ($psf) in the Month: $2,947
Units sold in April 2011: 1
Cumulative Units Launched but Unsold: 20

[dydx]

This morning I checked my bank account and noted a nice credit from Sing Holdings' $0.0075/share Final dividend for FY10. Another good feeling!

I really think the company should pay out bigger dividends in the next few years.

[ngcheeki]

CEO Lee Sze Hao purchased 280 lots Sing Holding share @ 31 cents per share. See the following for more information.

1. Date of change of Interest 24-05-2011
2. Name of Registered Holder LEE SZE HAO
3. Circumstance(s) giving rise to the interest or change in interest Open Market Purchase
# Please specify details
Open market purchases of 280,000 shares on 23 May 2011 at $0.31 per share


I reckon that there will be more buying interest on this stock after this purchase .

vested.