Wing Tai Holdings

[ngcheeki]

I'm expecting the company to pay 5 cents dividend or more which consist of normal dividend of 3 cents and special dividend of 2 cents.

Wing Tai full year 2011 result is out!! Dividend of 7 cents instead of 5 cents.

NAV: $2.64
EPS: 40.3 cents
Price/book value (i.e based on current price of $1.255): 0.51

Let's see if Cheng Wai Keung will resume purchase of Wing Tai share at current price!!

See the following for more detail:
http://info.sgx.com/webcoranncatth.nsf/V...B0031BFE8/$file/FY2011Results.pdf?openelement

[ngcheeki]

Let's see if Cheng Wai Keung will resume purchase of Wing Tai share at current price!!

Cheng Wai Keung has resumed his purchase of Wing Tai share on yesterday, 1 September 2011. See the following announcement from SGX on his purchase.

http://info.sgx.com/webcorannc.nsf/Annou...endocument

[SLC81]

I'm expecting the company to pay 5 cents dividend or more which consist of normal dividend of 3 cents and special dividend of 2 cents.

Wing Tai full year 2011 result is out!! Dividend of 7 cents instead of 5 cents.

NAV: $2.64
EPS: 40.3 cents
Price/book value (i.e based on current price of $1.255): 0.51

Let's see if Cheng Wai Keung will resume purchase of Wing Tai share at current price!!

See the following for more detail:
http://info.sgx.com/webcoranncatth.nsf/V...B0031BFE8/$file/FY2011Results.pdf?openelement

Wingtai's balance sheet is also much stronger comparing to other high-end property developer for instance SC Global.

[freedom]

a close look on Wing Tai, there is not going to be too much revenue to be recognized in the next few quarters (only sold units in L'VIV and Foresque Residences, around 400 - 500 million in 2 years). most of its development properties in Singapore are unsold (remaining units in Helios Residences, Belle Vue Residences L'VIV, Foresque Residences; Le Nouvel not launched yet) and given the current cooling measures, probably not a lot of its unsold units can be sold quickly and profitably. probably quite far from bottom out.

[ngcheeki]

How about their sale recognition/proceed from their 40% owned joint venture properties of "Floridian" 92% sold TOP expected this coming quarter i.e. based on the last quarter financial statement of Orchard Parade Holding and also 40% owned "Ascentia Sky" 90% sold TOP expected to be 4th quarter 2012? Furthermore, there are also sale proceed from their Wing Tai Malaysia Berhad and Wing Tai Properties in HK.

[freedom]

they can recognize profit from its joint venture project and associates, but probably difficult to get cash out of them, as their shareholder loan probably would subordinate the loan from banks.

[ngcheeki]

Updates of Wing Tai property projects sale status.
L'Viv
TOP: 2012
Nov 11 Sale
Total Number of Units 147
Number of units Launched 111
Number of units sold 111
Percentage of sale 75.5%

Ascentia Sky
TOP: ??
Total Number of Units 373
Number of units Launched 342
Number of units sold 342
Percentage of sale 91.68%

HELIOS RESIDENCES
TOP obtained
Total Number of Units 140
Number of units Launched 76
Number of units sold 76
Percentage of sale 54.28%


FORESQUE RESIDENCES
TOP: 2015
Total Number of Units 496
Number of units Launched 216
Number of units sold 209
Percentage of sale 42.13%

Also Floridian which is a JV with Orchard Parade Holding is already 315 out of 336 or 93.75% Sold.

[PeterSoh]

Hi everyone, I recently noticed that wing tai's share prices have increased quite abit from $1.00 at 12th Jan to $1.225 at 27th Jan.

Comparing the financial reports for the past 5 years, it can be seen that they have a reasonably strong cashflow, revenue that increases every year (except for the drop from 2007 to 2008, $981,634,000 to $428,173,000). Despite the drop in revenue in year 2011, the EPS has almost doubled compared to 2010 (40.32 to 20.66) with an increased dividend from 5cents to 7cents/share.
For the year 2011, their Price/Book ratio was 0.38 which is not so attractive compared to previous years when the share prices were higher.
Furthermore, a few results that caught my eye for their 1st quarter
1st quarter 30 Sep 11 30 Sep 10
Revenue 108,970,000 68,632,000
Total Profit 26,354,000 7,566,000
Net cashflow 191,719,000 (14,632,000)

Revenue has increased by 40mil, profit is more than 3 times compared to 2010 and the net cashflow is just phenomenal from a 14mil deficit to a 191mil increase. There are many other results that are great and it can be seen that Wing Tai rewards their shareholders whenever they produce a decent result judging from how they increase dividends when doing well. They have consistently paid dividends over the past 5 years. I'm really keen in investing into this share but as I'm just a very new and fairly young (I believe) investor, I'm hoping to gather more information on the thoughts of the people on this forum.

Forgive me if I sound really naive and all, and thanks in advance for all the input!

[propertyinvestor]

Wing Tai, like Sing Holdings, has the potential to be the next takeover candidate!

[PeterSoh]

Published February 14, 2012

Wing Tai Q2 net up a notch
By MICHELLE TAN

WING Tai Holdings posted a net profit of $34.2 million for the second quarter ended Dec 31, 2011, up a slight one per cent from the restated $33.9 million a year ago.

The group's Q2 revenue rose 18 per cent year-on-year to $185.6 million on the back of more units being sold as well as increased recognition from the progressive sales of certain developments.

However, operating profit fell 41 per cent over the same period to $33.2 million from $56.3 million as cost of sales shot up 47 per cent to $104.1 million. Distribution expenses climbed 13 per cent to $25.1 million.

For the half year, the group's net profit attributable to shareholders climbed 46 per cent to $59.3 million from $40.5 million a year back.

Overall revenue for the first six months of the fiscal year was also up 31 per cent at $294.6 million. 'Revenue recognised from the progressive sales of Foresque Residences and L'VIV as well as the additional units sold in Helios Residences and Belle Vue Residences in Singapore were the main contributors to the higher revenue,' said Wing Tai.

But six-month operating profit fell to $50 million, declining 22 per cent from the same period last year, due to a higher cost base.

Fortunately, the group's share of profits of associated and joint-venture companies increased by 62 per cent to $50.1 million, bolstering the bottom line, following higher contributions from The Floridian and Ascentia Sky by Tanglin projects in Singapore as well as Wing Tai Properties Limited in Hong Kong.

Wing Tai also said the group's net gearing ratio has been reduced from 0.36 times as at end-June 2011 to 0.26 times as at end-December 2011.

Earnings per share for the second quarter and half year came in at 4.38 cents and 7.60 cents respectively.

'...the property market is consolidating. The group will keep a close watch on it and will at the appropriate times release more residential units for sale in the current year,' said Wing Tai.

The counter closed one cent lower yesterday at $1.285.

Anyone vested in this?