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After a break - last purchase was on 13Sep11.....
http://info.sgx.com/webcorannc.nsf/Annou...endocument
, BBR resumed buying back its own shares today (23Sep11) and bought back 34 lots at $0.21/share (out of the total 136 lots transacted, all at $0.21).....
http://info.sgx.com/webcorannc.nsf/Annou...endocument
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Today (26Sep11), BBR bought back another 52 lots at $0.21/share (out of the total 112 lots transacted between $0.21 and $0.215).....
http://info.sgx.com/webcorannc.nsf/Annou...endocument
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On 5Oct11, BBR bought back another 179 lots and paid $0.205/share.....
http://info.sgx.com/webcorannc.nsf/Annou...endocument
and today (6Oct11), BBR bought back another 10 Lots and paid $0.20/share (out of a total 32 lots transacted between $0.20 and $0.205).....
http://info.sgx.com/webcorannc.nsf/Annou...endocument
Including the latest purchases, BBR has so far bought back 2438 lots, or approx 0.79% of the total issued shares.
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14-11-2011, 08:29 AM
(This post was last modified: 15-11-2011, 07:59 AM by dydx.)
BBR has just announced having landed yet another big HDB contract - a $179.0m contract to build 1,386 new homes in Pasir Ris Neighbourhood 5.....
http://info.sgx.com/webcoranncatth.nsf/V...50009B033/$file/BBR_PasirRisN5.pdf?openelement
This has raised BBR's order book to $662.0m with projects lasting up to 2015.
Based on the recently announced 3Q results.....
http://info.sgx.com/webcorannc.nsf/Annou...endocument [result announcement + press release]
, and the fact that the Group has already booked a Rev. of $320.6m and a NP of $17.26m in the first 9 months, it does appear that BBR is poised to post a new record Rev. and NP in FY11 - vs. the previous record Rev. of $253.9m (achieved in FY08) and NP of $19.56m (achieved in FY10).
A full-year NP for FY11 of say $21.0m will translate into an EPS of $0.069, based on the latest 305.772m outstanding issued shares, and will raise NAV close to $0.32/share as at 31Dec11.
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Pleasing to see BBR's share price up > 9.5% to Scents 23 today in relatively good volumes - 330,000 shares were traded. Can't help feeling (and hope!) that this is one of those counters that was hit overly hard in the last five months of 2011 - during which its share price hit a low of SCents 20 - and is now due for a bit of a rebound. Going forward, the challenge for BBR's leadership will be to eek out robust margins on delivery of their pretty impressive order book. BBR's management appear to me to be a solid, focused and diligent sort and, while down by about 9% on my initial investment, I hope the coming FY2011 results impress to the extent that further share price gains result.
Vested......... and staying so,
RBM
RBM, Retired Botanic MatSalleh
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A postscript to my BBR posting of yesterday....... BBR's share price went down today exactly the same amount that it went up yesterday. Back to where we started yesterday morning. Such is life.......... I should take a longer term view!!
Still Vested,
RBM
RBM, Retired Botanic MatSalleh
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(26-01-2012, 07:20 PM)RBM Wrote: A postscript to my BBR posting of yesterday....... BBR's share price went down today exactly the same amount that it went up yesterday. Back to where we started yesterday morning. Such is life.......... I should take a longer term view!!
Still Vested,
RBM
Today's transactions: a total of only 29 lots done - 25 lots crossed at $0.22 at 11:21:33, and 4 lots sold to the buyer at $0.21 at 16:18:49.
More importantly, at closing, there were 216 lots queuing to buy at $0.21, and 128 lots at $0.205, vs. only 2 lots queuing to sell at $0.22, and 6 lots at $0.225.
I suppose nobody should lose any sleep on BBR!
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BBR struggles to sell high-end residential apartments
(SINGAPORE) Located in an exclusive neighbourhood near Singapore's Orchard Road shopping district, Nassim Hill condominium boasts 16 luxury triplex apartments with private rooftop pools and gardens.
Singapore property and construction firm BBR Holdings Ltd had expected strong demand for the luxury flats, but is now struggling with sales after the city-state introduced measures aimed at curbing demand from foreign buyers.
'The latest measures really hit the 8 Nassim Hill project because it is a foreigners' market in terms of clientele,' chief executive officer Andrew Tan said.
The company has sold nine out of 16 units so far, at an average price of $10 million, he said. The project was launched in 2007 and was completed in 2010.
However, it still hopes to report a 5 per cent rise in net profit last year, driven by a strong pipeline of construction works for government projects, Mr Tan said late last Friday.
The difficulties faced by BBR in selling premium apartments is symbolic of the slowdown in the local property market.
Last year, residential prices held up well despite a slowing economy, helped by near-record low interest rates and rising demand from overseas investors, in particular those from China.
'Across the board, sales have been declining, especially in the high-end side, where there is more pressure,' said SIAS Research's lead analyst, Ng Kian Teck.
In December, Singapore imposed tough measures targeting foreign buyers to cool property prices, a move expected to hurt high-end developers such as BBR.
BBR has three condominium projects including the one at Nassim Hill.
To counter the slowdown, BBR has started to focus more of its sales efforts on Chinese buyers, as their interest remains strong due to China's restrictions on its own property market.
'We have shifted the focus from European to Chinese buyers as the Chinese buyers are really rich and they also have their own (property) restrictions,' Mr Tan said.
'If they are looking for a place to park their funds, they would want a place that is stable, so Singapore and Hong Kong are where they would look,' he said.
BBR is also looking to develop more mid-end residential apartments that cater more for Singaporeans. One of its properties, the 140-unit Bliss@Kovan, has seen almost half of them sold, with 90 per cent of its buyers being locals, Mr Tan said.
The company reported net profit of $19.6 million in 2010.
BBR competes with construction and property firms such as Koh Brothers Group Ltd and larger rival CapitaLand. - Reuters
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We must not forget, based on the 9 units sold, BBR has booked very good profits in the last 2 FYs, and has, together with their 52% partner, already recovered the total development cost of the "8 Nassim Hill" project. While difficult to sell now, the remaining 7 units when sold should also be on a profitable basis. We must not forget Nassim Rd and Nassim Hill are prime-prime area for the truly rich.
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BBR's CEO Andrew Tan has just issued a factual and positive announcement in response to today's BT report.....
http://info.sgx.com/webcoranncatth.nsf/V...7003AE245/$file/BBR_Clarifications_to_BT_Article.pdf?openelement
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