How come the Master Plan 2013 isn't out yet? Sing Holdings hopefully will benefit from a revision of plot ratio for Robin project as it is very near to an upcoming MRT station -- Stevens MRT stationl
The Board of Directors of Sing Holdings Limited (the “Company”) would like to announce that its 373-unit Waterwoods received 741 electronic applications at the
close of the e-application period. Waterwoods is an executive condominium located at Punggol Field Walk / Punggol East which is jointly developed by the Company and UE E&C Ltd.
The showflat and sales gallery of Waterwoods will be open for viewing daily from 26 October 2013 to 31 October 2013 from 10 a.m. to 7 p.m.
Booking for units in Waterwoods will commence at the following timings:
9 a.m. on 2 November 2013 - For e-applicants
3 p.m. on 2 November 2013 - For public
The market is reflecting (1)zero value of this Waterwoods EC project since share price now is 43.5 cents hence market value of $173m(400mx 43.5cents) which is equal to the COST of the freehold Robin plot ($176m).
This also meant that the market is also reflecting
(2) zero value to the difference in market value and cost of the Robin plot since the plot was bought about 2-3 years ago,
(3)the possible increase in plot ratio of the land,
(4) the profit resulting from the launch of the Robin project,
(5) zero value to the office units since market cap is equal to Robin plot
(6) the difference in market value and cost of their office units and
(7) the remaining profits from The Laurels.
A company with undervalued assets could remain undervalued for a long time if the company does not realised the market value of their assets but for Sing Holdings, bear in mind that their assets are not static.....meaning that the EC will be launch next week, the Robin site would be launching next year and also most possibly the URA master plan would be out within the next 2 mths and etc
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