Wheelock Properties

[tealeaves]

and check out Wharf's Fuyang city, Zhejiang Hangzhou, Yong Jing Shan project. (富阳的九龙仓·雍景山)
http://yongjingshanjlc.fang.com/photo/li...095564.htm
The project is massive, includes a 9 mins video.
Wharf is the subsidiary unit of Wheelock.

Included in Wheelock's Q3 15 status report on the project in Hangzhou:
雍景山 
This residential site situated at Fuyang City, 22 km away from Hangzhou, China, comprises villas, townhouses, duplexes and apartments on a site area of 3.2 million sq. ft. Sale of the units in Phase 1 started on 4 July 2015. As at 30 September 2015, about 50% (95 units) were sold out of 191 units launched. The average selling price achieved is about RMB9,300 psm.

Recent article also reported Hangzhou's properties prices heading north...
观点周报：杭州半年收官 市区新房签约额增长88.5%
http://www.guandian.cn/m/show/162724

Dividends wise, Wheelock typically dispenses 6cents per year, so at $1.42, its about 4.2% yield.
Privatisation wise, the talk has been always been in town, but well, dun bet on it, least it serves only as a rumour.
always stoking speculations


YMMV :p

[SLC81]

At this level $1.415, Privatization of Wheelock Properties (Singapore) has become a high possibility in 2016.

Wheelock and Co.  privatized Hong Kong listed Wheelock Properties (Hong Kong) in 2010 at 140% premium.  

Wheelock and Co. has every reason to privatize Wheelock Properties (Singapore), it is selling some office assets in Hong Kong and i think the best of of proceed shall go to privatize Wheelock (Singapore).

Let see if this happen in Q1-2016.

Not the first time it went to $1.4 and lower... 

I believe $1.4  is the bottom. You may not see it again.

[tealeaves]

Wheelock Q1 FY16's profits coming in at $11.1 million, kinda reflect the current state of property prices in season.

Some updates on their prop developments also below.

Property Review Development Properties 
Scotts Square 
As at 31 March 2016, 82% (278 units) of the 338 units were sold at an average price of $4,000 psf. In addition, 31 of the 38 units earmarked for leasing have been leased, representing 82% occupancy at an average monthly rent of $5,000 per month per unit. 
Ardmore Three 
As at 31 March 2016, 7 units have been sold at an average price of $3,300 psf. Ardmore Three was relaunched on 14 April 2016.
The Panorama 
As at 31 March 2016, a total of 597 units or about 96% of the 620 units launched have been sold at an average price of $1,250 psf. Active marketing is on-going. 
雍景山 
As at 31 March 2016, 253 or about 73% of the 345 units launched for Phase 1 were sold at an average price of RMB8,591 psm. Phase 2 construction commenced on 30 December 2015 and sales launch is targeted in the 2nd quarter of 2016.

Wheelock Properties' Q1 earnings fall 9.1% to S$11.1m

http://www.businesstimes.com.sg/companie...1-to-s111m

[tonylim]

It DPS has been consistently higher than EPS , drawing on reserve to pay dividend .

[Scg8866t]

I know Wheelock has a very clean balance sheet but one question, did they pay for extension charges for their unsold units in Scott Square? Or did they buy up and convert to service apartments?

[Scg8866t]

Did they pay extension charges for their unsold scott square or did they buy up the unsold units and convert them to service apartments?

[Scg8866t]

It DPS has been consistently higher than EPS , drawing on reserve to pay dividend .

Cant judge like that have to look at eps from 2009 until now. Property developer earnings are choppy.

[TUBInvesting]

Hi just did a write up on Wheelock Properties.

Its an interesting stock and the balance sheet is strong.

The only concern is the QC charges for Ardmore Three - Hopefully they sell all other 30 units soon.

http://tubinvesting.blogspot.sg/2016/11/...about.html

<Vested>

[Boon]

Hi just did a write up on Wheelock Properties.

Its an interesting stock and the balance sheet is strong.

The only concern is the QC charges for Ardmore Three - Hopefully they sell all other 30 units soon.

http://tubinvesting.blogspot.sg/2016/11/...about.html

<Vested>

Hi TUBInvesting,

NAV as at 30-Sep-2016 is SGD 2.52 per share. How did you get 1.703 ?
________________________________________________________________________________________________________________________________________

[TUBInvesting]

Hi just did a write up on Wheelock Properties.

Its an interesting stock and the balance sheet is strong.

The only concern is the QC charges for Ardmore Three - Hopefully they sell all other 30 units soon.

http://tubinvesting.blogspot.sg/2016/11/...about.html

<Vested>

Hi TUBInvesting,

NAV as at 30-Sep-2016 is SGD 2.52 per share. How did you get 1.703 ?
________________________________________________________________________________________________________________________________________

I did a 50% discount on its Non-current Asset figure. However, it should be around $2.0 instead (30% discount).

Anyway realize there is insider buying in Sep. Not sure if it is already posted.