Chip Eng Seng

[Greenrookie]

Thanks curious party,

But is the sunset clawback pervasive or a industry norm? Most importantly, it did not say if CES aunt has such a clause?? 

But it good news from the look of it

[Sumeria]

CES aborts P99 deal. I like the move as I was at best neutral on this venture.

Meanwhile, for those who don't already know, CEL Australia's revamped drawings for its Fishermans Bend site (15-87 Gladstone Street) are pending approval. (you can go to Urban Melbourne website for picture and details)

It is made up of 746 apts and 596 parking lots in 3 nice 30 storey towers. I believe the authorities are suggesting varying heights for the 3 buildings instead. Hope its successful launch will be the company's next price catalyst.

I do not have an estimate of Q2 results. I am taking the current price weakness to add to my holding.

[BlueKelah]

Even if approved, the launch will just be in time for the apartment glut in melbourne.

A little too late. They should make sure they get tower melb constructed first, investors burnt there are unlikely to want to touch any CEL OTP stuff now.

Oh wait, they can still sell to the chinese. ;p

Sent from my MotoG3 using Tapatalk

[new-comer1]

http://news.asiaone.com/news/business/ex...t-director

[weijian]

Still waiting for that multi-million dollar salary in the private sector that is deserving for ministerial type of talent.

Nonetheless, it is a good start after a year. George Yeo seems to be going from strength to strength. Hope Mr Tuck Yew can pick up and truly realize his potential from all the experience he has gotten earlier in the Gov sector.

[vbReader]

Illustration of the proposed Gladstone Street project from Urban Melbourne site.

https://urban.melbourne/projects/fisherm...-melbourne

[vbReader]

Projects near MRT stations are still selling pretty well, based on how Lake Grande is doing.

This should be encouraging for CES' yet to be launched project near Tanah Merah MRT station, beside The Glades project.

Pricing looks to be similar to Lake Grande's at $1,350psf.

That would reap the co an estimated EPS of $0.168 from this project if fully sold, based on Sumeria's estimates below from a previous post on 25th Feb 2016(Sorry I do not how to quote his post here).


61% of Lake Grande snapped up during its launch

By
Cai Haoxianghaoxiang@sph.com.sg@HaoxiangCaiBT

JUL 25, 20165:50 AM

Singapore
IN what MCL Land chief executive officer Koh Teck Chuan described as "overwhelming demand", the developer sold 436 units or 61 per cent of its Jurong West condo, Lake Grande, during its launch weekend.
"We initially released 350 units out of the 710 units in the project but due to overwhelming demand, we released another 150 units," he said.
The average transacted price was S$1,368 per square foot (psf), with five out of every six units sold being one- or two-bedroom apartments.
Two-bedroom units were the most popular, with 260 such units sold. The average two-bedder - roughly 660 sq ft in size - sold at S$1,365 psf or around S$900,000.

Some 85 per cent of the buyers were Singaporeans, while 12 per cent were permanent residents and 3 per cent were foreigners.

The 17-storey project has units in one- to five-bedroom configurations, and is located near Lakeside MRT station, two stations away from the Jurong East hub.

The project is MCL Land's third in the area after the 738-unit J Gateway by Jurong East MRT station and the 696-unit Lakeville just beside Lake Grande.

MCL Land, a unit of Hong Kong central office landlord Hongkong Land, acquired the land parcel for S$338 million in March last year, which works out to around S$630 per square foot per plot ratio.

Alan Cheong, Savills Singapore research head, said the results might have been expected given the hype around the development of the Jurong Lake District and the high-speed rail line to Malaysia, which will have a terminal station in Jurong East.

"We have to be extremely discerning as to whether this is representative across the market," he said.

He compared the successful launch of Lake Grande with the handful of units sold during the weekend at The Trilinq, a project near Clementi which is just three MRT stops away.

Cushman and Wakefield research director Christine Li said the good performance was also due to little competition in the Jurong market. Lakeville next door is more than 90 per cent sold with only big units left, she said.
Mortgage rates have also come down along with global interest rates after Britain voted to leave the European Union in June. "The most attractive rate in the market is around 1.2 per cent a year for two years, floating," she said.

Source: Business Times

[revelationofpyramids]

CES will launch its Grandeur Park Residences at Tanah Merah after CNY. The floor plans have been released and units are quite bite size. Total gross saleable space works out to be about 544,000 sf. Assuming total cost psf of this space to be $1,120psf ($770 land cost derived at by dividing total price by GSA + $350 construction and other costs) and ASP (Assumed selling price) of $1,360 psf, gross profit psf is $240psf.

Multiply $240 by 544,000 gives a total gross profit of about $130 million.

Note that there is GFA set aside for a child care centre (5,380sf). I am not sure how CES will handle this space. If it's given to residents as space which can generate rental income, it will be a nice marketing angle to potential buyers. The MC will get a monthly income which can be used to offset expenses, leading to lower MC bills for owners.The child care centre is located near to the main entrance, which probably means the lessee of the space can take in children from outside the condo. The convenience of having a child care centre right in your condo will attract buyers planning to have kids soon.

The condo is also connected to the Tanah Merah MRT via a covered walkway, which is a big plus. It also overlooks lots of landed properties, giving it unblocked faraway views.

With CES' past marketing acumen, I am expecting this project to have good and quick sales on its launch.

Meanwhile, CES share price seems to be artificially depressed for a long while, with the bear or bears adamant on closing the stock at a low price everyday. This kind of price pattern is usually bullish over the longer term, when the bear(s) exhaust itself and surrenders to the bulls.

[Curiousparty]

CES will launch its Grandeur Park Residences at Tanah Merah after CNY. The floor plans have been released and units are quite bite size. Total gross saleable space works out to be about 544,000 sf. Assuming total cost psf of this space to be $1,120psf ($770 land cost derived at by dividing total price by GSA + $350 construction and other costs) and ASP (Assumed selling price) of $1,360 psf, gross profit psf is $240psf.

Multiply $240 by 544,000 gives a total gross profit of about $130 million.

Note that there is GFA set aside for a child care centre (5,380sf). I am not sure how CES will handle this space. If it's given to residents as space which can generate rental income, it will be a nice marketing angle to potential buyers. The MC will get a monthly income which can be used to offset expenses, leading to lower MC bills for owners.The child care centre is located near to the main entrance, which probably means the lessee of the space can take in children from outside the condo. The convenience of having a child care centre right in your condo will attract buyers planning to have kids soon.

The condo is also connected to the Tanah Merah MRT via a covered walkway, which is a big plus. It also overlooks lots of landed properties, giving it unblocked faraway views.

With CES' past marketing acumen, I am expecting this project to have good and quick sales on its launch.

Meanwhile, CES share price seems to be artificially depressed for a long while, with the bear or bears adamant on closing the stock at a low price everyday. This kind of price pattern is usually bullish over the longer term, when the bear(s) exhaust itself and surrenders to the bulls.

During some AGM, heard that cost of construction should be able to be kept below $300 PSF. Other costs include marketing , agency fee, etc . Achieving about 15 cents eps net profit should not be an issue if most of units can be sold out in first few weeks , similar to high park residence ...


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[Curiousparty]

close to 60% sold in one weekend alone. This is faster than car selling...