Chip Eng Seng

[Share Investor]

More buying from Tan Yong Keng. Close to 1 mil shares at 80 cents.

[Ray168]

If I am Tan Yong Keng, I will only buy if the upside is >50% cos there are other stocks may have this upside potential as well.

More buying from Tan Yong Keng. Close to 1 mil shares at 80 cents.

[Share Investor]

If I am Tan Yong Keng, I will only buy if the upside is >50% cos there are other stocks may have this upside potential as well.

More buying from Tan Yong Keng. Close to 1 mil shares at 80 cents.

My target is above $1. The relentless purchase by the substantial shareholder reinforces my belief that my target price is realistic.

[mechu]

What is happening this morning man?

[Share Investor]

What is happening this morning man?

Wow...up 10% as of now.

[mechu]

really crazy.. these days I get a jump when I check the share price..

[Share Investor]

That Tan Yong Keng have stepped up his buying even as the price rises. He bought more than 2.2 mil shares around 85 cents. He must have seen value even at this price.

Or does he has some other strategic objective?

[Ray168]

CES will announce unaudited FY2012 on 21Feb2013. I think these SSH already saw the result. They buy ahead of time to take position.

I think the price will continue to Chiong. OSK's RNAV for FY2013 is $1.03.

However, as the price gets higher, the risk also high. Be careful.

That Tan Yong Keng have stepped up his buying even as the price rises. He bought more than 2.2 mil shares around 85 cents. He must have seen value even at this price.

Or does he has some other strategic objective?

[BeDisciplined]

Actually, one should not only view his last purchase but his accumulation from 5% to 7% which is estimated to be about $10m. This ain't a small sum, at least to me. Even if you were loaded, under what conditions would you make such an investment?

Next, consider 33M completion, the few EC projects due for completion in 2013, the overwhelming strong response to Alexandra Central.....I really wonder what is CES RNAV? What is its true worth?

Result out on 21 Feb, correct? Any bet on how good a score card?

[greengiraffe]

http://www.charterkc.com.au/newsmedia/do...2-2013.pdf

Media Source: The Australian Financial Review
Date of Publication: 11 February 2013
Author: Rebecca Thistleton
Melbourne looking to Asia
The future of Melbourne’s inner-city apartment market lies with Asian backed developers, with more than half the
projects released last year coming from offshore developers, according to Charter Keck Cramer.
Speaking at the “State of the Market” event in Melbourne on Friday, Charter Keck Cramer director Sam Nathan
said the city’s famed liveability encouraged offshore investors, and the local market needed to be more mindful of
exposure to Asia.
“We have to accept the fact that we may be exposed to more volatile markets as a consequence and non-local
fundamentals, but what we’re doing is following a concept common around the world,” he said.
That’s a long bow to draw from a six-flat walk-up in Clayton, I know, but it’s an irrefutable fact that that we have to
look at how the market has grown and see the apartment market in a different context.”
According to CBRE, there has been more than $800 million worth of transactions involving Malaysian, Singaporean
and Chinese investors for CBD and city fringe development sites in the past two years.
Mark Wizel, of CBRE, said he expected more interest from large listed developers in Malaysia and Singapore such
as SETIA and Chip Eng Seng. He said there had also been more interest in passive commercial investment in
Melbourne.
Offshore lenders, such as ICBC, the Construction Bank of China, OCBC and other Malaysian financiers are
building more of a presence in Melbourne, which is also encouraging for Asian investors and developers.
PAGE 2
“We see the increased interest from Asian financiers as being an integral part of the make-up of the market moving
forward,” Mr Wizel said.
“The potential for Asia-based lenders to provide debt funding for clients that have significant portfolios abroad,
which may be used as security against Melbourne interests, is an extremely exciting prospect for both the local
development and investment sector.”
Charter Keck Cramer’s research showed that apartments in the outer suburbs and growth areas had proven less
popular than once thought. Of all the apartments released to the market between 2008 and 2012, only 27 per cent
had been completed. Another 13 per cent were under construction and another 44 per cent were “possible, while
17 per cent had been withdrawn from market.
The city core and city fringe remain the strongest apartment markets. In the city core, 85 per cent of all releases are
either finished, under construction or committed; 6 per cent have been withdrawn. Most of Melbourne’s pipeline is
to be finished this year and next year, with more approved projects now in the marketing phase.
“While there continues to be conjecture around the increased supply of apartments in the CBD, several of the
offshore developers we are dealing with don’t share the same view,” Mr Wizel said.
Speaking after the Australian Property Institute of Victoria’s event on Friday, REIV spokesman Robert Larocca said
industry sentiment was buoyant after a downturn in 2011 and much of 2012.
“Last year ended with the most substantive growth seen in Melbourne since the last peak, a trend that will continue
if consumer confidence continues to lift this year,” he said.
“Unlike the last two upswings, this one, just from its early stages, looks to be much milder as the underlying
fundamentals are different.”