Wing Tai Holdings

[Stockerman]

unsold units after 2 yrs will be subject to penalty?

I think the property counters are very much affected by the gov policies. If more FTs are coming in, there will be take up on the units the developers are holding. I think many companies like Capitaland are holding the prices because they think population will ultimately increase, so no worry about the unsold units.

[ngcheeki]

FY2013 result is out and Wing Tai Holdings is giving 3 (First and Final) + 9 (Special Dividend) total of 12 cents.

PATMI(S$'000): S$531,126
EPS (with out investment gain) : 37.5 cents
EPS (with investment gain): 67.81 cents
NTA: $3.62

Forward statement:
The total number of new residential units sold islandwide has decreased to 9,950 units in the first half of
2013, as compared to 11,928 new units sold in the first half of 2012. In June 2013, the Monetary Authority
of Singapore introduced the new Total Debt Servicing Ratio (TDSR) framework for property loans, which is
widely expected to have an impact on the demand for new residential units in Singapore.
In the current financial year, the Group launched the second phase of Foresque Residences, a 496-unit
development in the Upper Bukit Timah precinct. To date, about 95% of the total units in this development
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.
This parcel will be developed into a premium residential development for sale. The Group was also awarded
the tender of a residential land in Shanghai Baoshan District, China in November 2012.
The Group will continue to strengthen its position and explore investment opportunities in the markets it
operates, namely in Singapore, Malaysia, China and Hong Kong.

http://infopub.sgx.com/Apps?A=COW_Corpor...esults.pdf

[WolfT]

Wow! 13cts dividend, 6.3% at current price!
Huat arrr!!!!!!!
Should have known Uncle Cheng is now the majority, he will give more as dividend...

[ngcheeki]

Wow! 13cts dividend, 6.3% at current price!
Huat arrr!!!!!!!
Should have known Uncle Cheng is now the majority, he will give more as dividend...

Oops Sorry, it should be 3 + 9 instead of 4 + 9 cents.

[WolfT]

Wow! 13cts dividend, 6.3% at current price!
Huat arrr!!!!!!!
Should have known Uncle Cheng is now the majority, he will give more as dividend...

Oops Sorry, it should be 3 + 9 instead of 4 + 9 cents.

No worries. i go read it later when i am home...
5.88% still not bad

[safetyfirst]

i love Uncle Cheng too.. How i wish the towkays of the other developers can follow in the footsteps of uncle cheng and treat the minority shareholders more fairly.

i think wingtai has done a wonderful job in selling foresque slowly and foresque is now 95% sold. As for L’VIV, Helios Residences and Belle Vue Residences, i think despite the weak market sentiments, wingtai has moved quite a number of high end luxury units in the past few months, which is an amazing feat.

Not to forget, 5.88% dividend yield for a developer is really very generous. Cheers and huat ah!

[specuvestor]

i love Uncle Cheng too.. How i wish the towkays of the other developers can follow in the footsteps of uncle cheng and treat the minority shareholders more fairly.

Uncle Cheng did a partial offer 15% at 1.39... and then now 9cts special I fail to see how that is treating minorities fairly. Agree with WolfT that with higher stake, he is treating himself more "fairly"

[safetyfirst]

well, i would think he can buyback on the open market at a much lower price back then but he didnt...

[specuvestor]

How long does it take to buy 15% before good news kicks in?

[safetyfirst]

Not everyone tendered the shares to him, you have a choice, i sold some to him, my dad didnt.

The close of the partial offer was on 5 jul. From 6 jul to 27 jul, investors still had the chance to buy below the offer price of 1.39.

Apparently, market sentiments was so bad that many didnt care. If you bothered to take note, you would have made decent money.


Date Open High Low Close Volume Adj Close
30 Jul 2012 1.37 1.39 1.36 1.39 1,021,000 1.37
27 Jul 2012 1.37 1.37 1.36 1.37 325,000 1.35
26 Jul 2012 1.37 1.37 1.36 1.37 389,000 1.34
25 Jul 2012 1.37 1.38 1.36 1.36 410,000 1.34
24 Jul 2012 1.34 1.38 1.34 1.38 681,000 1.36
23 Jul 2012 1.37 1.37 1.34 1.34 174,000 1.32
20 Jul 2012 1.38 1.38 1.35 1.37 1,160,000 1.34
19 Jul 2012 1.38 1.39 1.38 1.38 958,000 1.36
18 Jul 2012 1.35 1.37 1.34 1.37 1,734,000 1.35
17 Jul 2012 1.34 1.34 1.33 1.34 1,444,000 1.31
16 Jul 2012 1.35 1.36 1.33 1.33 949,000 1.31
13 Jul 2012 1.34 1.35 1.34 1.35 314,000 1.32
12 Jul 2012 1.34 1.35 1.33 1.34 464,000 1.31
11 Jul 2012 1.34 1.35 1.34 1.34 1,028,000 1.32
10 Jul 2012 1.34 1.35 1.34 1.34 341,000 1.31
9 Jul 2012 1.35 1.35 1.34 1.34 254,000 1.32
6 Jul 2012 1.35 1.35 1.35 1.35 963,000 1.33
5 Jul 2012 1.36 1.36 1.35 1.35 1,897,000 1.33
(source from yahoo finance)

http://infopub.sgx.com/FileOpen/ClosingA...leID=18624