Chip Eng Seng

[roxhockey]

Curiousparty: the article is about Tower Melbourne. Here's the link to the City Council's report on the development that is being considered at the next meeting on August 5. However as mentioned the Council just provides a recommendation which the State Planning Minister can then choose to ignore.

http://www.melbourne.vic.gov.au/AboutCou...eting.aspx then click on Report 6.4

[value seeker]

Curiousparty: the article is about Tower Melbourne. Here's the link to the City Council's report on the development that is being considered at the next meeting on August 5. However as mentioned the Council just provides a recommendation which the State Planning Minister can then choose to ignore.

http://www.melbourne.vic.gov.au/AboutCou...eting.aspx then click on Report 6.4

Doesn't look like TM. TM is at 150 Queens Street.

[Curiousparty]

Grateful if you could kindly point out the paragraph that referred to TM categorically?

many tks.

Curiousparty: the article is about Tower Melbourne. Here's the link to the City Council's report on the development that is being considered at the next meeting on August 5. However as mentioned the Council just provides a recommendation which the State Planning Minister can then choose to ignore.

http://www.melbourne.vic.gov.au/AboutCou...eting.aspx then click on Report 6.4

[roxhockey]

Sorry, my mistake! This is their other site, not TM. Apologies all

[RT Knight]

To all who has doubt. THis is the recent CEL project at CUB site, which is at the 170Victoria Street. Not the Tower Melbourne. Tower Melbourne more or less, should resume the demolition soon, since the court has give the positive statement to CEL, which CEL has mentioned in the company announcement.

http://www.melbourne.vic.gov.au/AboutCou...arlton.pdf

http://www.melbourne.vic.gov.au/AboutCou...arlton.pdf

[Curiousparty]

How can the City Council be so sure that the 4min is not due to some "margin of error" due to computer simulation?

4 min/ 180 min x 100% = 2.22%.
(faint)


***********
In relation to the State Library forecourt the Clause outlines the following:

"Development should not cast any additional shadows across St Paul’s
Square, the Plaza and the Atrium which are part of Federation Square, any part of City Square, Queensbridge Square or the State Library forecourt, between 11.00 am and 2.00 pm on 22 June".

A shadow analysis undertaken by City of Melbourne using the 3D computing model indicates that the proposed tower will result in shadowing of the forecourt from 1.56pm on 22 June.

Whilst it might be argued that this is technically only four minutes into the period referred to in the policy , the extent of shadow extends across the full width of the space and gets steadily worse, as demonstrated in the shadow diagrams below.

To all who has doubt. THis is the recent CEL project at CUB site, which is at the 170Victoria Street. Not the Tower Melbourne. Tower Melbourne more or less, should resume the demolition soon, since the court has give the positive statement to CEL, which CEL has mentioned in the company announcement.

http://www.melbourne.vic.gov.au/AboutCou...arlton.pdf

[roxhockey]

It is pretty silly! Especially when you consider June 22 is chosen as it is (I believe) the Winter Solstace ie the shortest day of the year (meaning the Sun is lowest in the sky). So for most of the year, especially the summer months where you'd actually want to be outside, the square would be absolutely fine.

Here's hoping the Planning Minister sees it the same way we do. This is the unfortunate reality of Australian property development I'm afraid - makes me wonder if we won't see some Singaporean developers that are expanding into the market tripping over themselves as the different levels of government in Australia have so much regulation. This site was actually designated for a much higher building by the state government which would make the shadowing even worse, suggesting they weren't aware of the Council regulation either.

[Curiousparty]

I think great Singapore sales is coming.... Mr Market has chosen to weigh in so heavily on something that is still before approval by the Planning Minister and slated for launch in 2018/2019, but conveniently chosen to ignore the possible 200% jump in EPS for FY14 as well as locked in profits from other fully sold out projects that will see CES having good EPS for 2015 as well.

This is indeed a good chance to accumulate more.


Mr Market prices Roxy Pacific at roughly its NAV (inclusive of hotel asset) yet chooses to discount other hotel/developers heavily. Oxley is also priced at a premium compared to other developers despite its larger leverage. If anything, the market should be discounting these counters due to poor sales at Trilive & Royal Wharf.

Here is Irrational Mr Market for u

[Curiousparty]

1.3 billion population keeps their cash in Chinese banks, equivalent to some US $3 trillion of households deposits, the largest deposit base on this Earth. Chinese reserves are also the highest in the world. Household deposits plus Chinese reserves will offer a huge buffer. Chinese banks do not need to be bailed out like the US banks during GFC as the Chinese banks are owned by the govt.

GIC and CapitaLand are investing big time in China property if I am not wrong. How far can both GIC and CapitaLand go wrong at the same time ?

Good results are expected for the TOPs coming next few quarters. I am sure Mr. Market and all the value buddies knows by now, in fact the 30 cents may already be factored in since the big climb last year from ~50cents to 80cents++....

There are some risks though which should be pointed out for the newbies here.

there is a chance that a special dividend be given but if you look at dividend history, they have always only gave/raised div at the end of financial year, so profits could be kept till next year May, so maybe its better to buy more towards december time. However always be prepared as CES can do what Low Keng Huat has done and use the profits for reinvestment into buying investment properties for recurring income or replenish land banks in Singapore as per the latest quarterly...

Dispute with Colonial Range(chow family developing next door) may be ending but there could still be some trouble with progress as they are still "moving toward a resolution". The minister for planning Matthew Guy who approved this could unapprove it as well. He has changed his pattern in the past with regards to this rezoning issue..Read more here After TM, 5 more CBD projects have been approved for total 2000+ new apartments. This is causing some opposition on the politics side as it is very bad town planning, the Lord Mayor has been against it.'We don't want canyons': Doyle slams 'arrogant' Tower Melbourne developers

Also note company should have almost 30 million treasury shares now, good if cancelled, bad if given to bosses as "performance shares/share options"

With a large float, unlikely for any privatisations like the recent superbowl or guthrie so other counters like Hobee/LKH/Hongfok could be alternative value buys as usually privatisations really cause the stock to rise fast.

Just my not vested views, trying not to touch any property related stocks with china still bubbling away...

[Curiousparty]

Junction 9 - only left 3 units or 98% sold out.
Alex central - left 2units.

if don't believe, just call up property agent

Q3/Q4 results should be "explosive" (IMHO)