Chip Eng Seng

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Yes, corporate entites also have to pay 15% ABSD
wef 12 Jan 2013, buyers or transferees who are :
a. FR and entities would have to pay ABSD of 15% on the purchase or acquisition of any residential property.

FR = Foreigners


Note that SSD at 16/12/8/4% will likely apply too, should the ppties be resold within a 1~4 yrs period.

NB: QC Extension charges are based only on landcosts (for unsold units),
while ABSD is based on Price of the completed ppty units.
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Are the critics "sad" that Carlton project has been approved? The official report (from Planning Department) is attached as PDF below.
Based on the news article below, Mr Guy seemed to be telling the Council Planning Staff to go and "Fly Kite".

Probably, CES would have to make a formal announcement soon on the approval given to Carlton project to proceed.
It is very likely that both Doncaster and this Carlton projects would be launched very soon.

Double Happiness !

***
http://www.theage.com.au/victoria/hypocr...1clyb.html

A planned skyscraper will overshadow the State Library forecourt, after a "hypocritical" decision by Planning Minister Matthew Guy to approve a 71-storey apartment building.
Lord mayor Robert Doyle had opposed the tower for the former Carlton and United Breweries site, arguing it was wrong to overshadow the popular public square, even for as little as two minutes. "The forecourt is one of [Melbourne's] great treasures and it so well utilised and it's not overshadowed at all," he said.
The State Library forecourt is one of just a handful of Melbourne landmarks which has protected access to sunlight. According to Clause 22.02 of the planning scheme, new developments should not cast a shadow on the space between 11am and 2pm on June 22 (usually the shortest day of the year).

But a spokeswoman for the Planning Minister said a forecast five-minute impact on the forecourt during that period had been deemed acceptable "for a discretionary planning control".

It is understood the approved tower will begin overshadowing the forecourt at about 1.55pm during the winter solstice. Melbourne City Council modelling for the original application showed that by 2.15pm the forecourt was almost fully in shadow.

The tower approval was announced by the minister in the Herald Sun on Saturday with no reference to the controversial overshadowing of the forecourt. At the same time Mr Guy said he had rejected a 100-level Collins Street tower because it would have overshadowed the Yarra River, a plan Melbourne councillors had narrowly endorsed because it would have delivered a promised new park on the site.

Greens councillor Rohan Leppert said he believed it was "a little bit hypocritical" to reject one tower on the basis that it overshadowed an important public space, while approving another.

"The big problem with all ministerial applications [is that] the decision is made behind closed doors," Cr Leppert said. "The public can't see what the professional advice was. The whole thing is just unsatisfactory."

A request for Mr Guy to further explain the reasoning behind his two decisions went unanswered on Monday, as did questions to the planning department about the Victoria Street tower permit conditions.

Meanwhile, Melbourne City Council recently approved a 33-level apartment adjacent to the State Library forecourt, but a council spokesperson said it did not breach the planning scheme's overshadowing regulations.

(02-08-2014, 07:41 AM)BlueKelah Wrote: Skyscraper faces tall order over Melbourne City Council's shadowing decree on special seven
July 31, 2014
A 77-storey silver skyscraper planned for Carlton is likely to be opposed by Melbourne City Council because of a little-known decree in its planning scheme.
There are seven public spaces in the city considered to be so special that they cannot be overshadowed by new high-rises.
They are the north bank of the Yarra River, Federation Square, City Square, Queensbridge Square, St Paul’s square and the State Library of Victoria forecourt. The south bank of the Yarra is also is also specially named in the planning scheme as being protected from overshadowing from the CBD and Docklands.
Next week one of these rules will come into play when the city council considers whether to support the construction of a 236-metre high-rise on the corner of Victoria and Bouverie streets, former home of the Carlton and United Breweries.

The tower would overshadow the state library forecourt, located about half a kilometre away. According to council’s 3D computer modelling the first shadow would creep into the square at exactly 1.56pm on June 22.
Council planning staff say this is an instant deal breaker.
“Notwithstanding the many other merits of this proposal, the development cannot be supported in its current form on that basis of this issue alone,” they wrote in a report submitted to councillors.
“In addition to the shadowing of the state library forecourt, the proposed tower will also cast shadows on Victoria Street, Swanston Street and Elizabeth Street to La Trobe Street.”

Read more Here

For investors to decide impact on CES. Councils are a pain when developing in Australian CBD.

Fundamentals wise I still think CES has good fundamentals.

To be a value investor, I don't think it would pay to be fickle-minded especially after doing all the research and buying a stock for cheap. I will try to be humored by fickle minded posts in the future as they don't seem to be of much VALUE(pun intended) to members reading and deciding on their investments.


Attached Files
.pdf   90-156-172-Victoria-Street.pdf (Size: 1.63 MB / Downloads: 10)
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
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Developers are usually ahead in the game compared to the Govt.
I am sure they will come up with innovative approach to go around Smile

(31-10-2014, 09:37 PM)Vseeker Wrote: Yes, corporate entites also have to pay 15% ABSD
wef 12 Jan 2013, buyers or transferees who are :
a. FR and entities would have to pay ABSD of 15% on the purchase or acquisition of any residential property.

FR = Foreigners


Note that SSD at 16/12/8/4% will likely apply too, should the ppties be resold within a 1~4 yrs period.

NB: QC Extension charges are based only on landcosts (for unsold units),
while ABSD is based on Price of the completed ppty units.
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
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Just drove by Alexandra Central this morning. It should be fine for the Mall to be completed by the end of this year.

Please refer to the information at BCA website on what it takes to get TOP to be issued.
http://www.bca.gov.sg/TOPCSC/top_inspection.html
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http://www.channelnewsasia.com/mobile/bu...50852.html

Nine residential blocks to be built by 2018 in woodlands...
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Today i went to Ikea, well, and i chat a sup of the site. He said the mall can be ready before 2014 easily, from his experience. He told me he work in this line for some 30 yrs. But the hotel will be much later. Anyway, the construction of the hotel above is in no way hinder the operation of the mall.
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http://www.businesstimes.com.sg/companie...m-contract

Chip Eng Seng wins S$233m contract
By
Jamie Lee leejamie@sph.com.sg@JamieLeeBT

4 Nov5:50 AM
Singapore

CHIP Eng Seng Corporation was among the companies that announced contract wins on Monday.

The construction firm said that it has won a S$232.8 million contract through its wholly owned subsidiary.

The contract was awarded by the Housing & Development Board for
Reply
greengiraffe Wrote:http://www.businesstimes.com.sg/companie...m-contract Chip Eng Seng wins S$233m contract By Jamie Lee leejamie@sph.com.sg@JamieLeeBT 4 Nov5:50 AM Singapore CHIP Eng Seng Corporation was among the companies that announced contract wins on Monday. The construction firm said that it has won a S$232.8 million contract through its wholly owned subsidiary. The contract was awarded by the Housing & Development Board for


Profit margin for construction is very slim. Assuming say 5% net profit margin which is already very high , the potential eps gain is at max less than 2 cents .
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
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yewkim Wrote:Today i went to Ikea, well, and i chat a sup of the site. He said the mall can be ready before 2014 easily, from his experience. He told me he work in this line for some 30 yrs. But the hotel will be much later. Anyway, the construction of the hotel above is in no way hinder the operation of the mall.



Personally , I feel there is no way Alex Mall can TOP within 2 months time . Landscaping not done , scaffolding still can be seen etc . I might be wrong .

Let's wait for official formal announcement and guidance in Q3 results on both the Alex mall and the hotel.
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
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Someone had posted more pictures of Alex...

Does it look like it can TOP in less than 2 month time?

http://www.nextinsight.net/index.php/for...=138#21187


(03-11-2014, 09:02 PM)yewkim Wrote: Today i went to Ikea, well, and i chat a sup of the site. He said the mall can be ready before 2014 easily, from his experience. He told me he work in this line for some 30 yrs. But the hotel will be much later. Anyway, the construction of the hotel above is in no way hinder the operation of the mall.
[I am not here to promote any stocks. Please always do your own research before embarking on any investment decision. I will not be liable for any of your own decisions. Your use of any information or materials is entirely at your own risk. It is your responsibility to ensure that any products, services or information meet your specific requirements. I do not produce material which meets the objectives of any specific financial and risk profile of investors.]
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