2nd Liner Prop Stocks

PotatoLover,

Could Raymond have resigned in order to prepare himself for politics? After all, GE could take place next year (if so, only a few more months to go...).

The guy has a track record of involvement in the community. Same too for his father in law - the chairman of Chip Eng Seng -- as you can see from this advert in 2013.



Mr Lim Tiam Seng, already a PBM holder, was conferred the Public Service Star (BBM) while Mr Raymong Chia was conferred the Public Service Medal (PBM).

Both r grassroots leaders. Mr Lim Tiam Seng is the Patron of Yio Chu Kang Citizens’ Consultative Committee (CCC) while
Mr Raymond Chia is the Patron of Nee Soon South Citizens’ Consultative Committee (CCC).

KSH consortium (Lian Beng, KOP) announced that they are proposing to sell off Epic Land (9-2) which owns part of Prudential Tower.

The announcement did not indicate the asset owned by this unit, so I am not very sure what is the total space disposed of effectively.

However, there is a mention that the unit's unaudited net liability stood at about $86.6m, which seems to indicate that this unit owns perhaps a few floors of Prudential Tower. (Note that the consortium had used 30 different entities to purchase the different strata units of Prudential Tower)

It would have been helpful if the consortium is clearer on this matter, as well as provide info on the price paid psf, etc. I guess we will have to wait till more info is given.

Recap that the consortium sold a 5,952sf unit for a profit in October at $2,750psf.

Hi Sumer,

The consortium is selling Epic Land (19-2) which has a net liability value of $86593.46. The asset they are selling is half of the 19th floor of prudential tower. I believe it is the same 5952sf unit sold in Oct, just that they are only announcing it now, when the deal is completed.

The 30 entities used are Epic Land (01) Pte Ltd, Epic Land (10-1) Pte Ltd, Epic Land (10-2) Pte Ltd, Epic Land (11-1) Pte Ltd,
Epic Land (11-2) Pte Ltd, Epic Land (12-1) Pte Ltd, Epic Land (12-2) Pte Ltd, Epic Land (13-1) Pte Ltd, Epic Land (13-2)
Pte Ltd, Epic Land (14-1) Pte Ltd, Epic Land (14-2) Pte Ltd, Epic Land (15-1) Pte Ltd, Epic Land (15- 2) Pte Ltd, Epic Land
(16-1) Pte Ltd, Epic Land (17-1) Pte Ltd, Epic Land (17-2) Pte Ltd, Epic Land (18-1) Pte Ltd, Epic Land (18-2) Pte Ltd,
Epic Land (19-1) Pte Ltd, Epic Land (19-2) Pte Ltd, Epic Land (20) Pte Ltd, Epic Land (21) Pte Ltd, Epic Land (22) Pte Ltd,
Epic Land (23) Pte Ltd, Epic Land (24) Pte Ltd, Epic Land (25) Pte Ltd, Epic Land (26) Pte Ltd, Epic Land (27) Pte Ltd,
Epic Land (28) Pte Ltd and Epic Land (29) Pte Ltd.

The numbers in brackets indicates the floor of the unit. Some floors have only one strata unit (whole floor leased to one tenant) while some have 2 strata units such as the 19 floor.

thanks for keeping tab,appreciate the infor.

HI Mervyn, Yes you are correct. I thought mistakenly that it was $86.5m.

You are probably correct that it refers to the unit sold in October. Thanks.

Despite the fact that Alex Mall segment has obtained TOP in Q4 2014 (i.e. 11 Dec 2014), CES has continued to languish at 85 cents.

Can we conclude that Mr Market has already priced in this event?