Hiap Hoe

[freedom]

this kind of illiquid counter and not overvalued yet also short? must say got guts.

[godjira1]

First posting ever... Got a bit fat fingered and bought more than I meant to on this stock today.

Like the P/E, P/B. Leverage a little on the high side but overall ok. Let's see how this goes!

<vested>

[mkmk]

http://infopub.sgx.com/FileOpen/HiapHoe_...eID=258492

HIAP HOE MAKES FURTHER INROADS IN AUSTRALIA
- Signs MOU with Probuild, Australia’s leading construction company, to explore joint-venture opportunities
- Completes acquisition of A$43.8 million 380 Lonsdale Street, Melbourne
o Mixed development to include a 350-room upper-scale hotel

[revelationofpyramids]

Shareholders of SB have sold out and switched or switching to Hiap Hoe. That explains this one has been going up. Imagine Elinton sold off their SB shares... how many HH shares they have to buy to be similarly expose to SB assets... 20 million?

If they even want to own just half of that, it will led to higher prices at Hiap Hoe.. maybe they have bought 5m so far?

[crabcrab]

At the AGM, all resolution passed.

[sykn]

I didn't know that Hiap Hoe has the dubious honour of having one of its completed developments completely unsold for some time (Treasures at Balmoral, if I am not wrong)! Not sure if PM Lee's announcement this morning in the news is going to hit this company, although I believe they concentrate on high end residential and commercial properties. Glad to know that they are going overseas to Australia to get business. The local market is just too small, congested and highly dependent on Government property policies, which of course, cares more about the population than about the businesses of property companies.

[greengiraffe]

Go-ahead for $500m project in Melbourne Docklands

GREG BROWN THE AUSTRALIAN JUNE 03, 2014 12:00AM

LISTED Singaporean group Hiap Hoe has won planning approval from the Victorian government for its $500 million-plus hotel and apartment development in Melbourne’s Docklands.

The site, at 6-22 Pearl River Road, was approved last week and is likely to result in a project with 461 apartments and a hotel with 320 suites.

Starwood Hotels and Resorts Worldwide will manage the hotel under the Four Points brand, with the hotel to be named Four Points by Sheraton Melbourne Docklands.

Construction is expected to begin early next year. Hiap Hoe is already marketing the apartments in Singapore and Shanghai, as well as in Melbourne and Sydney.

The designer of the project is dKO Architecture. Its director, Koos de Keijzer, said two residential towers were planned, each with a 5 degree tilt in them. One of them would lean towards the water while the other would tilt away from it.

The towers would also be artistic with colour schemes, with one of them white with light windows and the other black with dark windows.

“It’s probably going to be the biggest sculptural tower ever built in Australia,” Mr de Keijzer said.

Hiap Hoe has bought aggressively in Australia in the past couple of years. It has a site on Lonsdale Street with potential to build a 350-room hotel and 658 apartments.

It also owns a site on Melbourne’s 206 Bourke Street, and also bought a Perth site in February for $90m.

[sykn]

Ordinarily, I would have opined that because Australia is a mature market, Singaporean property developers looking for business there is a bad idea. But I have changed my views after seeing the slew of Condominiums sprouting up in Sydney when I last visited there, not bought by local Aussies, but by the HK and China (and other Asian) people, who don't care so much about beautiful scenery and large land size, but more practical issues like closeness to shopping malls, food outlets, etc. So I wish our local chaps best of luck with their new ventures as there is better than even chance that our chappies may be better able to cater to the whimps of these new migrants in the capital cities in Australia.

[greengiraffe]

never extrapolate your Singapore experience Down Under. Australia is very big. Wrong location will worsen the draggy experience Down Under.

Just wondering if CES's Tower Melbourne manage to resolve their issue with their neighbours?

FYI, if you look under Melbourne properties thread, you will learn that there is massive supply of apartments there.

Ordinarily, I would have opined that because Australia is a mature market, Singaporean property developers looking for business there is a bad idea. But I have changed my views after seeing the slew of Condominiums sprouting up in Sydney when I last visited there, not bought by local Aussies, but by the HK and China (and other Asian) people, who don't care so much about beautiful scenery and large land size, but more practical issues like closeness to shopping malls, food outlets, etc. So I wish our local chaps best of luck with their new ventures as there is better than even chance that our chappies may be better able to cater to the whimps of these new migrants in the capital cities in Australia.

[sykn]

Point taken, I hope HH senior management has the business sense to find the best places to start their little venture into Australia, ha ha! I must admit that I've only been to Melbourne twice and don't know anything about the property scene there at all. But what I can say from personal experience rebuilding my own home is that I found the Aussie builders much better than our local contractors whose workers are mostly "foreign talent". So HH and our other Singaporean companies will indeed find the locals there give them a good run for their money if they want to compete in that market.