Pick up some Heeton after carefully reading the OUTLOOK in their last announcement.
<<< Outlook >>>
Going forward, the Group expects near-term demand for private residential properties to be dampened by the recent rounds of anti-speculation measures introduced by the Government, even though projections of population growth point to a sustainable demand trend over the longer term. It is nevertheless looking forward to another positive year in 2013.
1) Construction of its joint-venture project, The Boutiq, at Killiney Road, is progressing well on schedule. With over 80% of the 130-unit development sold to date, Heeton expects to commence recognition of its share of profits from the sale of units from the first quarter of this year.
The Group’s two other joint-venture residential projects, Palacio and Sky Green, were launched in August and October respectively to good response.
2) More than 70% of Palacio, a 21-unit cluster housing development at Telok Kurau Road, have been sold, and
the Group expects to commence construction of the development in April 2013.
3) Sky Green, a 176-unit development located at MacPherson Road, is currently more than 90% sold, and construction of this project is expected to commence in the middle of this year.
Heeton holds a 36% stake in Palacio and a 40% interest in Sky Green.
Last edit: 11 years 8 months ago by erelation. Reason: formating
Today ST - Strong buyer interest in Sennett Residence Units. Tuan Sing Holdings has collected at least 400 blank cheques since the showflat for Sennett Residence in Potong Pasir opened last weekend.
Still plenty of money flooding the money... and developer stock will continue to move up once we see more positive sales figure.
It will be nice if Hiap Hoe & Superbowl sell their two hotel and realize the value from the two hotels.
Below articles from Business Times today.
THE Kum family behind the proposed M&L Hospitality Trusts that was to have been floated last year has sold Ibis Novena at Irrawaddy Road for $150 million or about $622,000 per room.
The Kums will reap a handsome profit from the sale; they acquired the 241-room hotel less than two years ago for $118 million. In the latest transaction, property funds managed by Keppel Land unit Alpha Investment Partners are buying the freehold hotel.
The property, which opened in April 2011, is at the corner of Balestier and Irrawaddy roads. Ibis Novena was one of two Singapore hotels in the portfolio that the Kum family's Grandline International was planning to float under the M&L Hospitality Trusts last year, but the initial public offering was deferred in April.
Market talk at the time was that investors wanted yields higher than the forecast annualised distribution yield of 7.4 to 8 per cent for FY 2012, based on M&L's 80-87 cents per unit indicative price range.
According to industry watchers, it makes sense for the Kum family to have sold Ibis Novena, given the onslaught of competition in the area from two new hotels adding up to nearly 800 rooms from a Hiap Hoe-SuperBowl mixed development project in Balestier.
The 405-room Days Hotel Singapore at Zhongshan Park opened late last year and the 384-room Ramada Singapore at Zhongshan Park is slated to begin operations in the first half of this year.Both hotels are managed by the Wyndham Hotel Group.
erelation, yr idea of HH selling the 2 hotels . It's good for a short term spike up in stock price, but after the special dividend is paid, the price will fall. The company will be a small business once again. better to keep the hotels and see if HH & Super bowl can make good money out of them, and pay a better dividend than now. At 63 cents now, HH looks attractive again
Me still holding on to my Hiap Hoe. Only concern is the profitability of its hotel operation once there is any slow down in economy.
KSH done a placement at $0.4080 per share and yet today market open up reaching a high of $0.465.
Any view on this? Gearing is at low 0.23 with cash and cash equivalent of $66.7 mil. Isn't placement of share at this price a higher cost of capital as compare to loan? Unless they are placing the shares to strategic investors who can value add... perhaps the management also think that the share price is overvalued at this price and more cost efficient to issue more shares?
