Wing Tai Holdings

[jaco]

For what it is worth: Wing Tai was mentioned as a stock pick by Marc Faber during the Barron's Roundtable recently. Together with SATS, K-reit, Star-Hub, F&N.

http://online.barrons.com/article/SB5000...rticle%3D0

I could not figure out how much of his (team's) time and effort goes into specific stock research, since Marc Faber is more of a macro-economic commentator. The performance of his picks has been excellent though: http://pragcap.com/how-useful-are-the-ba...le-pundits

[freedom]

Wing Tai is cheap, so are a lot of other property development companies.

but privatization, highly unlikely (my person take).

past track record, quite bad. back in 1990's, Wing Tai was one of the hardest hit then. It took it 10 years(or more) to recover in 2006 - 2007. of course, it only means now, it is still worse than back in 1990s.

[camelking]

For what it is worth: Wing Tai was mentioned as a stock pick by Marc Faber during the Barron's Roundtable recently. Together with SATS, K-reit, Star-Hub, F&N.

http://online.barrons.com/article/SB5000...rticle%3D0

I could not figure out how much of his (team's) time and effort goes into specific stock research, since Marc Faber is more of a macro-economic commentator. The performance of his picks has been excellent though: http://pragcap.com/how-useful-are-the-ba...le-pundits

Hi,

Thank you. Something rational and intelligent at least.

[ngcheeki]

This is one of the few property developer with low gearing level of 26% and NAV of 0.523.

It's time to do some catch up!!

[propertyinvestor]

This is one of the few property developer with low gearing level of 26% and NAV of 0.523.

It's time to do some catch up!!

I think what you mean to say is P/B not NAV. NAV is 2.40...HIGHER THAN WHEELOCK

[ngcheeki]

This is one of the few property developer with low gearing level of 26% and NAV of 0.523.

It's time to do some catch up!!

I think what you mean to say is P/B not NAV. NAV is 2.40...HIGHER THAN WHEELOCK

Thank for correcting my error Yes, it should be Price to Book of 0.523

[freedom]

This is one of the few property developer with low gearing level of 26% and NAV of 0.523.

It's time to do some catch up!!

I think what you mean to say is P/B not NAV. NAV is 2.40...HIGHER THAN WHEELOCK

the track record of Wheelock's boss was far better than Wing Tai's.

When Wing Tai was struggling with its Draycott 8, Wheelock was happily developing Ardmore Park.

Wheelock earned 1 billion pre-tax profit from Ardmore Park, How much did Wing Tai lose in Draycott 8?

[propertyinvestor]

This is one of the few property developer with low gearing level of 26% and NAV of 0.523.

It's time to do some catch up!!

I think what you mean to say is P/B not NAV. NAV is 2.40...HIGHER THAN WHEELOCK

the track record of Wheelock's boss was far better than Wing Tai's.

When Wing Tai was struggling with its Draycott 8, Wheelock was happily developing Ardmore Park.

Wheelock earned 1 billion pre-tax profit from Ardmore Park, How much did Wing Tai lose in Draycott 8?

BUT THEY MADE LOADS OF MONEY ON HELIOS RESIDENCES, L'VIV and Belle Vue Residences

For track record, they made MILLIONS out of Oleander Towers, Amarayliss ville, Kovan Melody, Riverine by the Park and VisionCrest Residences!

Who cares about Draycott 8?

And Wheelock only has Ardmore to talk about. Wing Tai still has Wing Tai Malaysia and Wing Tai Hong Kong to dig more money out!

[freedom]

This is one of the few property developer with low gearing level of 26% and NAV of 0.523.

It's time to do some catch up!!

I think what you mean to say is P/B not NAV. NAV is 2.40...HIGHER THAN WHEELOCK

the track record of Wheelock's boss was far better than Wing Tai's.

When Wing Tai was struggling with its Draycott 8, Wheelock was happily developing Ardmore Park.

Wheelock earned 1 billion pre-tax profit from Ardmore Park, How much did Wing Tai lose in Draycott 8?

BUT THEY MADE LOADS OF MONEY ON HELIOS RESIDENCES, L'VIV and Belle Vue Residences

For track record, they made MILLIONS out of Oleander Towers, Amarayliss ville, Kovan Melody, Riverine by the Park and VisionCrest Residences!

Who cares about Draycott 8?

And Wheelock only has Ardmore to talk about. Wing Tai still has Wing Tai Malaysia and Wing Tai Hong Kong to dig more money out!

how much did Helios Residences really make? it has not been sold out yet.

Wheelock already made another billion from its Scotts Square, not mentioning other projects.

The point is that under the same circumstances, Wheelock is making billions, but Wing Tai is still struggling to make millions only.

[propertyinvestor]

Haha same, at what price did you enter?

various prices from 95 - 1.40

Average ard 1.2

I think this and Sing Holdings are the top 2 picks for potential privatisation

talking about privatization.

Will Wing Tai be privatized? at $1, maybe, but will current shareholders accept privatization price of $1? $2+, does Cheng WK look like a fool to you? Where would the money come from to privatize Wing Tai? Either from Cheng WK himself/his family (to gear up himself/him family) or from Wing Tai. highly likely it would be from Wing Tai, which would seriously shrink the balance sheet of Wing Tai (lots of cash will be removed, probably more debt incurred for privatization). Will it help Cheng WK to do bigger and better business with Wing Tai? Absolutely not. the balance sheet is shrunk and geared up, how to do bigger property development projects?

The best for Cheng WK would be maintain the status quo. Cheng WK will be still in control of Wing Tai. He can do almost whatever he wants. The balance sheet of Wing Tai is not bad and growing. Cheng WK can do much bigger property development projects with money from shareholder if required. In the meantime, if the share price is low enough, buy more from open market, it will not hurt.



Why go through all the trouble to gain almost nothing, but likely lose something by privatizing Wing Tai?

Interesting..Didn't know that company can privatised itself...

not exactly the company privatize itself, but to finance its privatization. the owners can use the company's resource to privatize the company. what exactly is the difference?

No, you cannot use company money to privatise. Companies Act does not allow that. Unless its a management buyout where Cheng uses his personal holding or investment vehicle to make a delisting offer. The way to do it is to get back all the shares first and put it under to holding company, den dig the money out to pay off whatever loans you borrowed to finance the delisting offer.

---

This is one of the few property developer with low gearing level of 26% and NAV of 0.523.

It's time to do some catch up!!

I think what you mean to say is P/B not NAV. NAV is 2.40...HIGHER THAN WHEELOCK

the track record of Wheelock's boss was far better than Wing Tai's.

When Wing Tai was struggling with its Draycott 8, Wheelock was happily developing Ardmore Park.

Wheelock earned 1 billion pre-tax profit from Ardmore Park, How much did Wing Tai lose in Draycott 8?

BUT THEY MADE LOADS OF MONEY ON HELIOS RESIDENCES, L'VIV and Belle Vue Residences

For track record, they made MILLIONS out of Oleander Towers, Amarayliss ville, Kovan Melody, Riverine by the Park and VisionCrest Residences!

Who cares about Draycott 8?

And Wheelock only has Ardmore to talk about. Wing Tai still has Wing Tai Malaysia and Wing Tai Hong Kong to dig more money out!

how much did Helios Residences really make? it has not been sold out yet.

Wheelock already made another billion from its Scotts Square, not mentioning other projects.

The point is that under the same circumstances, Wheelock is making billions, but Wing Tai is still struggling to make millions only.

Why are they struggling?

Helios acquisition price was only 670psf ppr. Breakeven price around 1500psf. Average selling price around 3200psf. Like that struggle meh?

Helios is alrdy 55% sold. Made more than enough to cover their cost price and make decent profits.

LVIV is 80% sold.