Sing Holdings

Sharing: Stage of construction of Robin Residences as of now.







Robin Residence will house 134 apartments.

55 apartments have been launched -- out of which 21 have been sold as of Sept 2014. (The Oct sales figures are not available yet on the URA website)

Median price : S$2,382 psf.

Sing Holdings' cost is around $1800 to $1850psf, translating into a net profit margin of about 15%.

TOP in Q4 FY 15.

Share price currently is 34 cents (despite insider buying) while RNAV estimates per share by various investors/analysts are in the 70s, 80s and even 90s.

Waterwoods EC, from 272 units as at end-Sept 2014 to 301 units sold as at Nov 13.




www.executivecondominium.sg/Waterwoods.html

Interesting buying of Sing Holdings today. Nice to see it putting on 2 cents to hit 32 cents. We all know this is a grossly undervalued property developer ...and we know the insiders have been accumulating ....while the sellers have lost patience with this counter.

Update: 318 units of Waterwoods EC sold. Left only 55 units.

SING HOLDINGS is an alluring privatisation play. It may be why the insiders have been accumulating the stock.

As for Waterwoods EC, an update: 333 units sold, only 40 units left. (Sept 2014 , the no. of units sold stood at 227 )

RHB analyst report today says "At SGD0.34, the stock is trading at a 51% discount to its RNAV of SGD0.69/share."

Quotes mgt saying it will pay higher dividends cos lots of cash coming in for its current 2 projects.

"Robin Residences is a 100%-owned private condominium development. As at the date of this announcement, approximately 49% of the units have been issued an option to purchase, amounting to contracted sales value of about S$128.5 million. Revenue is
recognised progressively based on the stage of construction. As at 3Q2015, the project was 76% completed."

infopub.sgx.com/FileOpen/SHL_3Q2015.ashx...cement&FileID=376173

NAV of Sing Hldgs is 54.67 cents already. Share price only 30.5 cents.

If only some cooling measures were lifted! Will it happen next yr?