Sing Holdings

In their 2Q2012 results.... info.sgx.com/webcoranncatth.nsf/VwAttach...2012.pdf?openelement The Group currently owns 55 strata units in BizTech Centre with a saleable area of 56,707 square feet, of which about 88% is tenanted. Book value of $31.635m or $560psf. But selling for $850psf www.commercialguru.com.sg/listing/849289...-sale-biztech-centre

The  has on 6 December 2012 submitted a tender bid of S$162.1 million for the land parcel at Punggol Field Walk / Punggol East (the “Bid”).

Based on the provisional tender results released by the Housing & Development Board (the
“HDB”), the Bid emerged as the highest bid for the tender.

 the Company will develop an Executive Condominium housing development with a gross floor area of 42,921 square metres on the land parcel (the “Project”). The Project will be funded internally and through bank borrowings or from other sources as deemed appropriate by the Board.

Copied from investideas.net/forum/index.php?sid=398e...bd8db500bef54293320d by Behappyalways
 
 
www.ura.gov.sg/pr/text/2008/pr08-55.html

www.ura.gov.sg/pr/text/2008/pr08-116.html

Mgmt
said they will begin construction of the Robin plot in early 2013. It is not
prudent if the management based their construction on the draft master plan, so
most probably they will ignore the master plan 2013 and stick to 2008 master
plan. Time is also a concern. The first piece of land in Robin was bought in Jan
2011 so they probably can't wait longer to launch and construct esp to wait till
the final master plan 2013 which might only be near end 2013.

So my guess
is no revision for the land in Robin by Sing Holdings and they will probably
launch the project very soon.....


As for the punggol land. The gross
floor area is over 400,000psf and if they made a profit of about $100psf, that
would be around $40m or 10 cents a share......if $150psf, then 15 cents......I
was told that EC profit recognition is only when completed so the earnings would
only be recognised in 2015 or 2016....takes about 6-8mths to launch the project
so most probably this EC will be launched in 2H2013.

Honestly I was quite
surprised that Sing Holdings tendered for the plot of land....they probably
quite 'frustrated' with their recent unsuccessful bids and with price of land
appreciating it is quite hard for them.....could it be a signal that the mgmt
changed their biz model? To me property is about leverage and esp so for a
property developer. One should not put too much emphasis on fat margins but
should rather focus on turnover with a not too bad profit margin. One good
example is Far East.....and maybe Oxley.....which is why they can grow so
fast.....To be honest the margins for those fast turnover is still very
attractive because the actual amount invested by the property developers is only
a certain percentage of the total cost since they could mortgage the land for a
loan. The trick is turnover.....they must be able to sell the project with a not
too bad profit margin.....

So 2013 might be a good year for the share
price with 2 projects gonna launch soon starting with Robin and The Laurels's
TOP. Personally I hope they can clinch another plot of land....Financially they
should be able to do so with The Laurels's TOP soon......

EC nowadays are selling like hot cakes.......
 
info.sgx.com/webcoranncatth.nsf/VwAttach...nder.pdf?openelement

Mo Yan, Sumer & $$, thank you for highlighting SING HOLDINGS. Now finally... breached 42-c level and I am in the money! Worth around 60 cents in my view. Any detractors pls express yourself.

will their new EC project be wildlyprofitable?