Wing Tai Holdings

[ngcheeki]

Cheng Wai Keung (Chairman) of Wing Tai Holdings on 6 January 2011 and 7 January 2011 has purchased 3,200,000 shares @ $1.77. This worked out to be $5,664,000. Please see the following for more detailed.

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

Does the above purchase signal undervaluation of this company?

The following is some of the data I've for wing tai:
Q1 FY 11
Total equity ($ '000) $1,701,131.00
Total Number of Shares ('000) 793,908.56
NAV $2.1427

"Development properties(Belle Vue Residences, The Riverine by the Park
Helios Residences, L'VIV, Le Nouvel Ardmore etc) $1,462,028.00
Investments in associated companies (Wing Tai, DNP companies) $493,903.00
"Investments in joint venture companies (Choice Hotes - 30%, Orwin deve - 40%,
Summervalue - 50%, WinPeak - 45%, WinPride - 40%, Uniqlo - 49%)" $162,837.00
Investment properties (Winsland house I, II, Windsland Residences) $494,934.00
Total values $2,613,702.00
(17+18+19)/Total Number of Shares $3.29

Cash S$ '000) $575,672.00
Cash Per Shares(US$ '000) $0.73

Amount repayable <= 1 Year Amount in S$'000
Secured $338,433.0000
Unsecured $101,544.0000
Amount repayable > 1 Year
Secured $447,115.0000
Unsecured $455,684.0000
Total Debt $1,342,776.0000
Debt / Equity 0.78934309

Net Cash/Debt ($767,104.00)
Net Debt per Shares ($0.97)

Amount in (S'000)
Total Current Asset $2,130,129.0000
Toal Current Liability $647,607.0000
Total non-Current Liability $1,155,462.0000
Net Current Asset $327,060.0000
Net Current Asset Per Share $0.4120

Market Price (070111) $1.78
Price to Book $0.83


Vested.

[mikh]

Tks for sharing.
I fail to understand why property counters such as WT has not gone up while real property prices have been hot for so long. Must be missing something.

vested

[ngcheeki]

Cheng Wai Keung (Chairman) of Wing Tai Holdings on 16-02-2011 purchased 900,000 shares @ $1.584. This will definitely
provide support for share price of Wing Tai which closed at $1.560.

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

Vested.

[ngcheeki]

Cheng Wai Keung (Chairman) of Wing Tai Holdings on 21-02-2011 purchased another 1,300,000 shares @ $1.587.

See the following for more information:

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

Vested.

[ngcheeki]

Cheng Wai Keung (Chairman) of Wing Tai Holdings on 22-02-2011 and 23-02-2011 purchased another 1,200,000 shares @ $1.562. I'm suspecting he's purchasing more as the price drop to $1.51 at the end of today .

See the following for more information:

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

Vested.

[ngcheeki]

Wing Tai goes to china just like what Wheelock has done. However, they're
going in with SingBridge, which is a Tamasek unit. Wing Tai owns 40%.

http://info.sgx.com/webcoranncatth.nsf/V...D003289EC/$file/NewsRelease.pdf?openelement

will more singapore property developers will follow soon given the current
land price of singapore is so expansive?

[tonylim]

CWK not buying lately.

---

[ngcheeki]

I suppose he can't because of black out period before the FY result. The company is going to announce its full year result by end of August. 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.

For your information:
Last year earning attributable to minority shareholder: 160.7 millions.
3rd this year: 143.58 millions.

[tonylim]

I suppose he can't because of black out period before the FY result. The company is going to announce its full year result by end of August. 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.

For your information:
Last year earning attributable to minority shareholder: 160.7 millions.
3rd this year: 143.58 millions.

Why did you highlight on this MI ? Any significant to shareholders of WT ? Thanks for your advice.

[ngcheeki]

Oops, it is a typo .

What I meant was that the net profit last year attribute to shareholder is : S$ 160.7 millions and the company is giving dividend of 5 cents. By 3Q of FY 2011, the profit to shareholder is already S$143.58 millions hence the chances of exceeding the last year profit is very high and hence the dividend is likely to be at least 5 cents.

As a reference, the following are the list of projects on sale by Wing Ting and their status:


L'Viv
TOP: 2012
June 11 Sale
Total Number of Units 147
Number of units Launched 110
Number of units sold 107
Percentage of sale 72.79%

Ascentia Sky
TOP: 2014
Total Number of Units 373
Number of units Launched 317
Number of units sold 317
Percentage of sale 84.99%

Belle Vue Residences
TOP: Dec 2010
Total Number of Units 176
Number of units Launched 176
Number of units sold 138
Percentage of sale 78.41%


FORESQUE RESIDENCES
TOP: 2015
Total Number of Units 496
Number of units Launched 194
Number of units sold 178
Percentage of sale 35.89%

Also Floridian which is a JV with Orchard Parade Holding is already 89% Sold.