Wing Tai Holdings

[freedom]

to have a sense on how expensive the new site is.

Ascentia Sky land was bought at 600+ psf pr

[propertyinvestor]

to have a sense on how expensive the new site is.

Ascentia Sky land was bought at 600+ psf pr

To have a sense of how much potential profits the site can yield, Subsale prices for Ascentia Sky is around 1600 and resale prices for Metropolitan is 1700psf.

[ngcheeki]

September 12 Sale

L'Viv
TOP: 2012
Total Number of Units 147
Number of units sold 129
Percentage of sale 87.7%
4 Units sold this month with median price of $2,246

Ascentia Sky
TOP. 4th quarter 2012
Total Number of Units 373
Number of units sold 373
Percentage of sale 100%
5 Units sold this month with median price of $1,564

FORESQUE RESIDENCES
TOP: 2015
Total Number of Units 496
Number of units sold 359
Percentage of sale 72.4%
104 Units sold this month with median price of $1,090

IIRC, the 85% (i.e. 204 ) of the newly released units (i.e. 241) are sold. Hence, we should see more sale recognition (at least another 100 units ) in next month report.

[propertyinvestor]

I love the freshly sliced fruits they serve at the buffet table!

---

Our valued Forum member cheeki will be updating you shortly on what transpired at the AGM.

[ngcheeki]

Q1 FY2013 result is out this evening, as stated by chairman during the AGM. The following is a short summary of the result:
Revenue: $247,116.00
Net Profit attributable to shareholders:: $72,066.00
EPS: $0.0920
NAV: $2.9075
Net Gearing drop from 0.17 to 0.145
Price to Book based on closing price of S$1.7: 0.5847
dividend Yield (7 cents): 4.12%

Forward statement:
In the current quarter, the Group launched the second phase of Foresque Residences. It was well received and to date, more than 80% of the 496 units in this project have been sold.

In September 2012, the Group together with Metro Australia Holdings Pte Ltd and Maxdin Pte. Ltd., were jointly awarded the tender for a 99-year leasehold land parcel located at Prince Charles Crescent, Singapore having an approximate site area of 23,785 square metres. The land will be developed into a premium residential development for sale.
The Group will also be re-developing its freehold site at 105 and 107 Tampines Road. The site has an approximate area of 13,149 square metres and will be developed into a residential development for sale.
The Group will continue to watch the property market closely and will release more residential units for sale in the current financial year.

http://info.sgx.com/webcoranncatth.nsf/V...70032401D/$file/Announcement_Sep_12.pdf?openelement

---

I love the freshly sliced fruits they serve at the buffet table!

---

Our valued Forum member cheeki will be updating you shortly on what transpired at the AGM.

Got to rush back for work so did not manage to grab anything . By the way, the lunch this year looked like better than previous year.

[LKY(LimKaYew)]

WT did very well indeed! One of my best stocks holdings currently. Today it hits a high of $1.74. Highest in the past 52weeks. I'm not in a hurry to take profit coz I believe this stock still can go further fundamentally with its increased NAV & lowered gearing. Good revenues & better profits is of coz another additional piece of good news to me to continue holding. In fact I've been waiting for temporal pull backs along the way to accumulate this share thus far. Nov to me is another month to have lotsa chances to do so. Just a personal note. I'm not advising anyone to buy/sell/hold.

I'm vested.

[propertyinvestor]

WT did very well indeed! One of my best stocks holdings currently. Today it hits a high of $1.74. Highest in the past 52weeks. I'm not in a hurry to take profit coz I believe this stock still can go further fundamentally with its increased NAV & lowered gearing. Good revenues & better profits is of coz another additional piece of good news to me to continue holding. In fact I've been waiting for temporal pull backs along the way to accumulate this share thus far. Nov to me is another month to have lotsa chances to do so. Just a personal note. I'm not advising anyone to buy/sell/hold.

I'm vested.

What price did you start vesting at? You mean you will still buy at today's prices?

[snowcap]

Why not?
Of all the mid-large cap property counters, if you go by asset play, WingTai has one of the best discount to NAV.

[propertyinvestor]

Why is it nobody was buying at $1? Why buy now?

[snowcap]

Why is it nobody was buying at $1? Why buy now?

Who knows the manic depressive behaviour of Mr Market? Actually it is not right to say nobody was buying at $1. For every transaction there has to be a buyer and seller. If people are dumping their shares, somebody has to be buying. Otherwise there is no transaction.

I buy not based on price history, but based on some assessment of intrinsic value (may be NAV, may be DCF). This is the beauty of value investing right? I was buying Wing Tai at sub-$1 in Dec 11, when the NAV was still low $2.xx.