Author: admin

Taking stock on developer stocks rally

Taking stock on developer stocks rally I have mentioned in my previous post on my position in developer stocks to ride the rising land price cycle. The focus for me was on companies that got their land bid in 2016 when land price was still relatively depressed and the en bloc party was but a

Insights on UOL Third Quarter Financial Results

Insights on UOL Third Quarter Financial Results One of the most significant item that is presented in UOL’s Third Quarter Results is the other gain recognised of about $527 million resulting from negative goodwill on acquisition of a subsidiary and loss on derecognition of associated and joint venture companies. The gain arises from a share

En bloc party

Take stock on the en-bloc party You know it is not business as usual when you see news on successful en-bloc every other week. Digging into Singapore real estate archives, such active en-bloc “party” was not seen since the 2006 – 2007. The by-product of the last boom are developments like d’Leedon (former Farrer Court) and Interlace (Gillman Heights). Transaction

Guocoland Beach Road foray

On 29 September Guocoland nets a top bid of $1.62 billion for a 2 ha site at Beach Road or $1,706 per sqft per plot ratio. My immediate thoughts or more aptly action: “jaw dropping”. To put it in perspective, the market capitalisation for Guocoland is about $2.5 billion and this bid price on land

Goodland Group Limited

Value analysis on property development company – Goodland Group Limited 1.      Balance sheet analysis Key value indicator: Net current assets: $176,768k Do note that out of the net asset of $236,880k, equity attributable to shareholders of the Group is 190,748 arising from its non-wholly owned subsidiaries in Malaysia (Banyan Housing Development Sdn Bhd and T-City Sdn

Price vs Value On 4 September 2017, Straits Times published an article highlighting “more upside ahead for developers. As real estate companies are typically heavy on their balance sheet, I did a back testing on the historical book value compared to share price of the companies highlighted in the article. The financial data is based on the

Singapore developers seek to top up their landbank

THE recent pick-up in residential sites acquired by Singapore developers suggests that they have finally come around to the prospect of a more decisive recovery in Singapore’s residential market, and the downside of a depleting landbank.

Real Estate Developer

Real estate development business is a popular business venture for a number of companies, from the traditional developers: Far East, UOL, Capitaland and Fraser Centrepoint to the “converts” which are usually from companies that operate in related businesses such as construction: Chip Eng Seng and Low Keng Huat. It is also not hard to find