Heeton Holdings

[propertyinvestor]

Management Indicated about hidden value in Sun Plaza and Elcentro. Elcentro may be redeveloped or revamped according to market sentiment...and of course subject to changes in the master plan.

Existing lease will terminated and tenants clear out by end Mar2013... for redevelopment
13-storey Elcentro with 40 resi units will be redevt into 19-storey Onze @ Tanjong Pagar with 50 resi units and 13 shops/restaurants.

The new showflat (located at 1st level of existing Elcentro) is now open... and "seeking indication of interest"

Commercial units start from 5000psf -8000 for prime ground floor units

Cheapest residential unit in development around 2600psf.

[kelvesy]

Good that Heeton is mitigating the challenges from local market through diversification around the SEA region. They are pushing for hospitality to reduce the cyclical housing market and creating more earning bases.

the Group targets to increase the proportion of its development and investment properties from overseas significantly to around 30% by FY2016.

<vested>

[propertyinvestor]

Lets not forget that Heeton is still waiting to divest off the Sun Plaza!

[Behappyalways]

Heeton seeking single buyer for iLiv@Grange
http://www.businesstimes.com.sg/premium/...e-20130830

not vested

[BeDisciplined]

The property development projects that KSH participated in such as The Boutiq, Lincoln Suites, Rezi 26, Palacio, to name a few, Heeton also has a minority stake (<50%) in each of them.

But why is KHS recognizing so much 'Share of profits from associated companies' (eg Q1 Jun 2013 at $7.8m) but Heeton has so little $542k only. That is a HUGE DIFFERENCE.

Also, in Heeton's Q2 Jun 2013 report, it only call out The Boutiq, what has happened to the rest of the projects? Heeton's corporate presentation released in Aug 2013 mentions its takes in the rest of the property development ....

Appreciate any enlightenment.

[Behappyalways]

From The Edge

A luxury condo that it developed jointly with Koh Brothers at Leonie Hill is the 53-unit The Lumos, which was completed in August 2011. ........ Under the Qualifying Certificate(QC) rules, the developers have to complete the construction of a residential project within five years, and sell all the units within two years of the project obtaining TOP(which meant Aug 2013). The penalty is a charge of 8%, 16% and 24% based on the proportion of unsold units for the first, second and third year of extension respectively. Koh Brothers and Heeton have applied to SLA for approval to lease out the remaining units. "In the meantime, we're still doing soft marketing as there are interested buyers." says Low

not vested

[Vseeker]

The property development projects that KSH participated in such as The Boutiq, Lincoln Suites, Rezi 26, Palacio, to name a few, Heeton also has a minority stake (<50%) in each of them.

But why is KHS recognizing so much 'Share of profits from associated companies' (eg Q1 Jun 2013 at $7.8m) but Heeton has so little $542k only. That is a HUGE DIFFERENCE.

Also, in Heeton's Q2 Jun 2013 report, it only call out The Boutiq, what has happened to the rest of the projects? Heeton's corporate presentation released in Aug 2013 mentions its takes in the rest of the property development ....

Appreciate any enlightenment.

i beli KSH's major contributions come from its 35% stake in high margins Cityscape @ FarrerPark,
Lincoln Suites (split equally betwn KohBros, LianBeng,KSH & Heeton -- 25% each) actually been clocking small losses.

...both Rezi 26 & Palacio are much smaller projects
Palacio : recognitions not commence yet
Rezi 26: KSH have 45%, but Heeton's only 10% stake
so Heeton can only recognised dividends whenever they get declared - usually only close to or after project completion

==> so Heeton's contributions from Assocs mainly come from Boutique this time round.

my guess: Heeton's likely to outperform many of its peers within property sector, over the next few years... let's wait and see how things unfolds in the mths/yrs ahead...

[propertyinvestor]

Personally, I find WingTai undervalued at current prices. I may be severely wrong but it is just my opinion.
Comparing it with the other same industry companies, Wing Tai really stands out among them.

The problem is because of past actions such as the partial offer Mr Cheng did before. Many forum members were divided on the pros and cons, and some felt that they were given a bad deal while the others thought otherwise. Even the high dividend this year is seen as Mr Cheng paying himself more fairly instead of the simple reason that the company shares it's profit.
This makes me feel that the management is very crafty and like to play tricks which ultimately will cause all minority shareholders to lose out.

Heeton Holdings and Tuan Sing are also severely undervalued. The problem lies with no big player pushing up the stock.

[kelvesy]

Seems like someone is actively buying Heeton shares today.

[revelationofpyramids]

Ya, this one had been like sleeping for so long. Strange buying activities recently. Don't know what is going on. Hope for privatisation at $1.

Profits from its various projects will start to come in this year. And also won a EC site in Jurong recently. With HSR station going to be built in the west, this will be good news.

Also going in Cambodia property market.