SingHaiyi *Official* (SGX:5H0)
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ultimacloud
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loaded at 0.035 last week , and i'm out already.
Neil Bush (pictured), the younger brother of former US President George W
Bush is set to become a major investor in Singapore-based developer
SingXpress Land, which plans to change its name to SingHaiyi Group.
The move will take place following a rights issue and share placement by
the SGX Catalist-listed developer that plans to raise up to S$226.5 million
in proceeds. Mr Bush is expected to be named Chairman after the share
placement is completed, replacing Yeo Wee Kiong who will remain as
Non-Executive Director.
The fund-raising exercise is the largest-ever by SingHaiyi and will see the
firm looking for growth opportunities in the US, specifically in properties
or projects that are on the brink of bankruptcy.
Mr Bush is President of privately-owned oil and gas company ATX Oil and is
engaged in various business activities focusing on the US, China and Middle
Eastern markets.
It is believed he is a long-time business partner of Gordon Tang who
controls Haiyi Holdings, which currently has a 62.3 percent stake in
SingHaiyi. Both are linked through American Pacific International Capital,
which has a portfolio of commercial properties in the US.
On his new role, Mr Bush said: “I am elated by the opportunity to
participate in the growth of SingHaiyi. Through my network and business
experience, I hope to strengthen the investment opportunities between Asia
and the United States, using SingHaiyi and Singapore as a springboard.”
SingHaiyi's top management added: “The Board has great confidence in the
abilities and network of Mr Neil Bush and we look forward to his
contributions as the company explores real estate investment opportunities
in the US and elsewhere.”
Meanwhile, the firm and Mr Bush continue to have faith in Singapore’s
economy and real estate sector. SingHaiyi is part of the consortium which
launched the much-talked about CityLife executive condominium (EC) at
Tampines in December last year which sold a S$2 million “presidential
suite”.
Bush is set to become a major investor in Singapore-based developer
SingXpress Land, which plans to change its name to SingHaiyi Group.
The move will take place following a rights issue and share placement by
the SGX Catalist-listed developer that plans to raise up to S$226.5 million
in proceeds. Mr Bush is expected to be named Chairman after the share
placement is completed, replacing Yeo Wee Kiong who will remain as
Non-Executive Director.
The fund-raising exercise is the largest-ever by SingHaiyi and will see the
firm looking for growth opportunities in the US, specifically in properties
or projects that are on the brink of bankruptcy.
Mr Bush is President of privately-owned oil and gas company ATX Oil and is
engaged in various business activities focusing on the US, China and Middle
Eastern markets.
It is believed he is a long-time business partner of Gordon Tang who
controls Haiyi Holdings, which currently has a 62.3 percent stake in
SingHaiyi. Both are linked through American Pacific International Capital,
which has a portfolio of commercial properties in the US.
On his new role, Mr Bush said: “I am elated by the opportunity to
participate in the growth of SingHaiyi. Through my network and business
experience, I hope to strengthen the investment opportunities between Asia
and the United States, using SingHaiyi and Singapore as a springboard.”
SingHaiyi's top management added: “The Board has great confidence in the
abilities and network of Mr Neil Bush and we look forward to his
contributions as the company explores real estate investment opportunities
in the US and elsewhere.”
Meanwhile, the firm and Mr Bush continue to have faith in Singapore’s
economy and real estate sector. SingHaiyi is part of the consortium which
launched the much-talked about CityLife executive condominium (EC) at
Tampines in December last year which sold a S$2 million “presidential
suite”.
@ 39c there is still huge support for this counter as investors see the counter being under valued.
True a fair reflection would be about 48c, judging by the volume & interest with the diva names onboard breaking 40c is a done deal.
Many holding for 50c in the next two days, there is no more meat in the bones just probably some skin.
Entering @ 39c and letting go at 46c for 7c profit in 2 days .... Counter not expected to be losing energy in the next two days.
True a fair reflection would be about 48c, judging by the volume & interest with the diva names onboard breaking 40c is a done deal.
Many holding for 50c in the next two days, there is no more meat in the bones just probably some skin.
Entering @ 39c and letting go at 46c for 7c profit in 2 days .... Counter not expected to be losing energy in the next two days.
Sinkie
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Are you sure
Do you know how much is the placement to Neil bush and also singhaiyi nav?
And also what business Neil bush is injecting into the company?
Amazing how you derived 48c as the true value of the company lol
Last edited:
Jupiter2017
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http://www.businesstimes.com.sg/companies-markets/singhaiyi-groups-q2-earnings-surge-588
Tue, Nov 07, 2017 - 9:55 PM
SingHaiyi Group's Q2 earnings surge 58.8%
MAINBOARD-LISTED SingHaiyi Group Ltd posted on Tuesday a 58.8 per cent surge in its second-quarter net profit to S$6.2 million, while first-half earnings more than tripled to S$24.4 million.
For the three months ended Sept 30, 2017, earnings per share was 0.216 Singapore cent, up from 0.136 Singapore cent the year before.
The group recorded total revenue of S$106.7 million for Q2 2018 from S$13.3 million in Q2 2017, arising mainly from the revenue recognised for its completed executive condominium project, The Vales.
In Q2 2017, revenue contribution mainly arose from sales of completed units from Vietnam Town, a 141-unit commercial condominium project in San Jose in the US.
For H1 2018, revenue soared to S$389.6 million from S$24 million the year before.
SingHaiyi closed unchanged at S$0.123 on Tuesday.
Tue, Nov 07, 2017 - 9:55 PM
SingHaiyi Group's Q2 earnings surge 58.8%
MAINBOARD-LISTED SingHaiyi Group Ltd posted on Tuesday a 58.8 per cent surge in its second-quarter net profit to S$6.2 million, while first-half earnings more than tripled to S$24.4 million.
For the three months ended Sept 30, 2017, earnings per share was 0.216 Singapore cent, up from 0.136 Singapore cent the year before.
The group recorded total revenue of S$106.7 million for Q2 2018 from S$13.3 million in Q2 2017, arising mainly from the revenue recognised for its completed executive condominium project, The Vales.
In Q2 2017, revenue contribution mainly arose from sales of completed units from Vietnam Town, a 141-unit commercial condominium project in San Jose in the US.
For H1 2018, revenue soared to S$389.6 million from S$24 million the year before.
SingHaiyi closed unchanged at S$0.123 on Tuesday.
guards80
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SingHaiyi: Asset Acquisitions and Disposals :: Acquisition of How Sun Park
http://repository.shareinvestor.com/rpt_view.pl/id/714100.1/type/sgxnet/original_filename/1
http://repository.shareinvestor.com/rpt_view.pl/id/714100.1/type/sgxnet/original_filename/1
guards80
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How Sun Park sold for S$81.09m in collective sale
A SUBSIDIARY of SingHaiyi Group Ltd has been awarded the How Sun Park site for S$81.09 million through a collective sale.
The price works out to S$1,092 per square foot per plot ratio inclusive of an estimated development charge of S$2.92 million. Owners of the townhouses will receive approximately S$4.05 million per unit, which is slightly more than double the amount had they sold their units individually.
The most recent transaction in the development was just three months ago at just under S$1.9 million.
How Sun Park is a freehold three-storey development comprising 20 townhouses on a land area of 54,942.7 square feet.
Sieow Teak Hwa, managing director of Teakhwa Real Estate, which brokered the sale told The Business Times that so far consent for the en bloc sale has been obtained from owners of 19 of the 20 units.
"If approval from the last owner is not obtained within a few weeks, we shall have to make an application to the Strata Titles Board seeking its approval for the collective sale," Mr Sieow said.
The tender for the collective sale closed on Tuesday.
"We received interest from a few parties and awarded to the highest bidder. The owners' reserve price was reasonable, at S$70 million, which is why the site has drawn interest," he added.
In its filing with the Singapore Exchange late on Tuesday, SingHaiyi Group said that its subsidiary SingHaiyi Huajiang Amber, which took part in the tender, is a 50:50 joint venture between Corporate Bridge, a wholly-owned subsidiary of the company, and Huajiang Properties II, an entity controlled by Gordon Tang and Celine Tang. The Tangs are the controlling shareholders and directors of the company.
How Sun Park is zoned for residential use with a 1.4 plot ratio (ratio of maximum floor area to land area) and an allowable height of up to five storeys.
http://www.businesstimes.com.sg/companies-markets/how-sun-park-sold-for-s8109m-in-collective-sale
A SUBSIDIARY of SingHaiyi Group Ltd has been awarded the How Sun Park site for S$81.09 million through a collective sale.
The price works out to S$1,092 per square foot per plot ratio inclusive of an estimated development charge of S$2.92 million. Owners of the townhouses will receive approximately S$4.05 million per unit, which is slightly more than double the amount had they sold their units individually.
The most recent transaction in the development was just three months ago at just under S$1.9 million.
How Sun Park is a freehold three-storey development comprising 20 townhouses on a land area of 54,942.7 square feet.
Sieow Teak Hwa, managing director of Teakhwa Real Estate, which brokered the sale told The Business Times that so far consent for the en bloc sale has been obtained from owners of 19 of the 20 units.
"If approval from the last owner is not obtained within a few weeks, we shall have to make an application to the Strata Titles Board seeking its approval for the collective sale," Mr Sieow said.
The tender for the collective sale closed on Tuesday.
"We received interest from a few parties and awarded to the highest bidder. The owners' reserve price was reasonable, at S$70 million, which is why the site has drawn interest," he added.
In its filing with the Singapore Exchange late on Tuesday, SingHaiyi Group said that its subsidiary SingHaiyi Huajiang Amber, which took part in the tender, is a 50:50 joint venture between Corporate Bridge, a wholly-owned subsidiary of the company, and Huajiang Properties II, an entity controlled by Gordon Tang and Celine Tang. The Tangs are the controlling shareholders and directors of the company.
How Sun Park is zoned for residential use with a 1.4 plot ratio (ratio of maximum floor area to land area) and an allowable height of up to five storeys.
http://www.businesstimes.com.sg/companies-markets/how-sun-park-sold-for-s8109m-in-collective-sale
Jupiter2017
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http://www.businesstimes.com.sg/companies-markets/singhaiyi-takes-stake-in-cromwell-property-group
SingHaiyi takes stake in Cromwell Property Group
MON, DEC 11, 2017 - 3:35 PM NISHA RAMCHANDANI nishar@sph.com.sg
MAINBOARD-LISTED real estate group SingHaiyi has, in conjunction with Haiyi Holdings, subscribed for about 175.1 million units of stapled securities, or a 9.9 per cent stake, in Australia-listed Cromwell Property Group for A$169.6 million (S$172.4 million).
Haiyi Holdings is a wholly owned entity of SingHaiyi's controlling shareholders, Gordon Tang and Celine Tang.
Each unit of stapled security comprises one ordinary share in Cromwell Corporation stapled to one unit in Cromwell Diversified Property Trust. The issue price of A$0.9691 per security represents a 4.9 per cent discount to Cromwell's one-month volume weighted average price of A$1.0191 per security.
Of the total subscription, SingHaiyi will subscribe for 61 million units of stapled securities for A$59.1 million, representing a 3.45 per cent stake in Cromwell; this will be fully funded through internal cash funds.
This "marks another step in SingHaiyi's strategy to diversify its income streams and geographical exposure to provide stable and visible earnings, while delivering greater value for shareholders," said SingHaiyi in a press release.
As at June 30, 2017, Cromwell has a market capitalisation of A$1.7 billion, a direct property investment portfolio in Australia valued at A$2.3 billion, and total assets under management of A$10.1 billion across Australia, New Zealand and Europe. Cromwell is also the sponsor of Cromwell European Real Estate Investment Trust (CEReit), in which Mr and Mrs Tang are cornerstone investors with a stake of about 13.9 per cent.
SingHaiyi's group managing director, Mrs Tang, said: "We are constantly on the lookout for opportunities to grow and broaden our income streams through yield-accretive acquisitions, quality property developments and astute investments. The subscription in stapled securities of Cromwell Property Group will firmly position SingHaiyi to be a direct beneficiary of the strong growth potential of Cromwell's prime Australian commercial property assets."
She added: "The subscription will also offer SingHaiyi unprecedented exposure to Cromwell's wider portfolio of high quality income producing assets across Australia, New Zealand and Europe."
Price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=5H0.SI
SingHaiyi takes stake in Cromwell Property Group
MON, DEC 11, 2017 - 3:35 PM NISHA RAMCHANDANI nishar@sph.com.sg
MAINBOARD-LISTED real estate group SingHaiyi has, in conjunction with Haiyi Holdings, subscribed for about 175.1 million units of stapled securities, or a 9.9 per cent stake, in Australia-listed Cromwell Property Group for A$169.6 million (S$172.4 million).
Haiyi Holdings is a wholly owned entity of SingHaiyi's controlling shareholders, Gordon Tang and Celine Tang.
Each unit of stapled security comprises one ordinary share in Cromwell Corporation stapled to one unit in Cromwell Diversified Property Trust. The issue price of A$0.9691 per security represents a 4.9 per cent discount to Cromwell's one-month volume weighted average price of A$1.0191 per security.
Of the total subscription, SingHaiyi will subscribe for 61 million units of stapled securities for A$59.1 million, representing a 3.45 per cent stake in Cromwell; this will be fully funded through internal cash funds.
This "marks another step in SingHaiyi's strategy to diversify its income streams and geographical exposure to provide stable and visible earnings, while delivering greater value for shareholders," said SingHaiyi in a press release.
As at June 30, 2017, Cromwell has a market capitalisation of A$1.7 billion, a direct property investment portfolio in Australia valued at A$2.3 billion, and total assets under management of A$10.1 billion across Australia, New Zealand and Europe. Cromwell is also the sponsor of Cromwell European Real Estate Investment Trust (CEReit), in which Mr and Mrs Tang are cornerstone investors with a stake of about 13.9 per cent.
SingHaiyi's group managing director, Mrs Tang, said: "We are constantly on the lookout for opportunities to grow and broaden our income streams through yield-accretive acquisitions, quality property developments and astute investments. The subscription in stapled securities of Cromwell Property Group will firmly position SingHaiyi to be a direct beneficiary of the strong growth potential of Cromwell's prime Australian commercial property assets."
She added: "The subscription will also offer SingHaiyi unprecedented exposure to Cromwell's wider portfolio of high quality income producing assets across Australia, New Zealand and Europe."
Price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=5H0.SI
Jupiter2017
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http://www.businesstimes.com.sg/com...-bulk-sale-of-its-vietnam-town-phase-ii-units
SingHaiyi enters into agreement for bulk sale of its Vietnam Town Phase II units
TUE, DEC 19, 2017 - 7:48 PM NAVIN SREGANTAN navinsre@sph.com.sg
MAINBOARD-LISTED SingHaiyi Group said on Tuesday that it has entered into a purchase and sale agreement, and initial escrow instructions for the bulk sale of all of its Vietnam Town Phase II units for a total cash consideration of US$95.3 million.
The sale, which was made to an unrelated third party, will see a non-refundable deposit of US$7.5 million paid out in five tranches and held in escrow on conclusion of the agreement, SingHaiyi said in a filing with the Singapore Exchange.
The US$87.8 million balance will be paid out on or before each close of escrow, the property group added.
Vietnam Town is a commercial condominium development project in San Jose, California. It comprises nine blocks of commercial condominium units and a four-storey parking structure.
The group's stake in the project consists of 192 units, of which 51 units have been successfully completed and sold in Phase I.
SingHaiyi's group managing director, Celine Tang, said: "This bulk sale is testament to the immense potential of Vietnam Town as one of the pre-eminent commercial projects in San Jose, California."
"Vietnam Town Phase II is well on track for completion and we expect to begin delivery of the first block in the second quarter of 2018."
In the past three months, SingHaiyi acquired Sun Rosier condominium in September for S$271 million and was awarded the tender for How Sun Park in November for S$81.1 million.
SingHaiyi shares closed S$0.003 or 2.5 per cent higher at S$0.124 on Tuesday.
Price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=5H0.SI
SingHaiyi enters into agreement for bulk sale of its Vietnam Town Phase II units
TUE, DEC 19, 2017 - 7:48 PM NAVIN SREGANTAN navinsre@sph.com.sg
MAINBOARD-LISTED SingHaiyi Group said on Tuesday that it has entered into a purchase and sale agreement, and initial escrow instructions for the bulk sale of all of its Vietnam Town Phase II units for a total cash consideration of US$95.3 million.
The sale, which was made to an unrelated third party, will see a non-refundable deposit of US$7.5 million paid out in five tranches and held in escrow on conclusion of the agreement, SingHaiyi said in a filing with the Singapore Exchange.
The US$87.8 million balance will be paid out on or before each close of escrow, the property group added.
Vietnam Town is a commercial condominium development project in San Jose, California. It comprises nine blocks of commercial condominium units and a four-storey parking structure.
The group's stake in the project consists of 192 units, of which 51 units have been successfully completed and sold in Phase I.
SingHaiyi's group managing director, Celine Tang, said: "This bulk sale is testament to the immense potential of Vietnam Town as one of the pre-eminent commercial projects in San Jose, California."
"Vietnam Town Phase II is well on track for completion and we expect to begin delivery of the first block in the second quarter of 2018."
In the past three months, SingHaiyi acquired Sun Rosier condominium in September for S$271 million and was awarded the tender for How Sun Park in November for S$81.1 million.
SingHaiyi shares closed S$0.003 or 2.5 per cent higher at S$0.124 on Tuesday.
Price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=5H0.SI
Jupiter2017
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http://www.businesstimes.com.sg/com...o-raise-s143-million-for-property-investments
SingHaiyi to raise S$143 million for property investments
TUE, DEC 26, 2017 - 7:43 PM LEE MEIXIAN leemx@sph.com.sg
Property developer SingHaiyi Group is looking to raise net proceeds of up to about S$143.16 million for property investments through a rights issue.
On Monday, it announced that it is proposing a renounceable non-underwritten rights issue of up to about 1.44 billion new shares at S$0.10 each, to be issued on the basis of one rights share for every two existing shares to shareholders.
Most of the proceeds will go towards property investments, either through direct acquisition of real estate or the acquisition of vehicles holding the real estate, it said.
The remainder will be used for general corporate and working capital.
The issue price represents a discount of 16.7 per cent to the closing price of S$0.12 on Dec 26, and a 11.8 per cent discount to the theoretical ex-rights price of S$0.113 per share.
Majority shareholder Haiyi Holdings, which has a 56.17 per cent stake in the company, has provided an irrevocable undertaking to subscribe for its pro rata entitlement of 806.2 million rights shares, but also all of the rights shares beyond its provisional allotments.
Haiyi Holdings is owned by husband-and-wife pair Gordon Tang, a non-executive director of the company, and Celine Tang, the group managing director.
They have done this to demonstrate their support for the rights issue and confidence in the company, according to the filing to the Singapore Exchange.
Because of the irrevocable undertaking and the savings in costs for the company as a result of not having to bear any underwriting fees, SingHaiyi has decided to proceed with the rights issue on a non-underwritten basis.
It has appointed United Overseas Bank as the manager for the issuance.
The company added that the rights issue will help to strengthen the group's financial position by improving its balance sheet and capital base, and reducing its net gearing.
"It will also provide the group with greater financial capacity and flexibility to capitalise on any investment opportunities in a timely manner as and when such opportunities arise," it said.
SingHaiyi's stock ended 2.4 per cent or 0.3 Singapore cent lower at S$0.12.
price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=5H0.SI
SingHaiyi to raise S$143 million for property investments
TUE, DEC 26, 2017 - 7:43 PM LEE MEIXIAN leemx@sph.com.sg
Property developer SingHaiyi Group is looking to raise net proceeds of up to about S$143.16 million for property investments through a rights issue.
On Monday, it announced that it is proposing a renounceable non-underwritten rights issue of up to about 1.44 billion new shares at S$0.10 each, to be issued on the basis of one rights share for every two existing shares to shareholders.
Most of the proceeds will go towards property investments, either through direct acquisition of real estate or the acquisition of vehicles holding the real estate, it said.
The remainder will be used for general corporate and working capital.
The issue price represents a discount of 16.7 per cent to the closing price of S$0.12 on Dec 26, and a 11.8 per cent discount to the theoretical ex-rights price of S$0.113 per share.
Majority shareholder Haiyi Holdings, which has a 56.17 per cent stake in the company, has provided an irrevocable undertaking to subscribe for its pro rata entitlement of 806.2 million rights shares, but also all of the rights shares beyond its provisional allotments.
Haiyi Holdings is owned by husband-and-wife pair Gordon Tang, a non-executive director of the company, and Celine Tang, the group managing director.
They have done this to demonstrate their support for the rights issue and confidence in the company, according to the filing to the Singapore Exchange.
Because of the irrevocable undertaking and the savings in costs for the company as a result of not having to bear any underwriting fees, SingHaiyi has decided to proceed with the rights issue on a non-underwritten basis.
It has appointed United Overseas Bank as the manager for the issuance.
The company added that the rights issue will help to strengthen the group's financial position by improving its balance sheet and capital base, and reducing its net gearing.
"It will also provide the group with greater financial capacity and flexibility to capitalise on any investment opportunities in a timely manner as and when such opportunities arise," it said.
SingHaiyi's stock ended 2.4 per cent or 0.3 Singapore cent lower at S$0.12.
price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=5H0.SI
Jupiter2017
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http://www.businesstimes.com.sg/com...-unit-to-buy-jalan-lempeng-property-for-s841m
SingHaiyi unit to buy Jalan Lempeng property for S$841m
Thu, Jan 11, 2018 - 10:21 PM Jamie Lee leejamie@sph.com.sg
PROPERTY firm SingHaiyi Group on Thursday said that it will purchase a property along Jalan Lempeng for S$841 million, after the tender submitted by its joint-venture (JV) firm was accepted by the property owners.
The property is known as Park West and located at 2-20 Jalan Lempeng. It is to be acquired by Sing-Haiyi Gold, a 50-50 joint venture between wholly owned subsidiary SingHaiyi Land and Haiyi Wealth, an entity controlled by Gordon Tang and Celine Tang. The husband and wife duo are in turn the controlling shareholders and directors of the company through Haiyi Holdings.
The property comprises a leasehold estate of 99 years commencing on March 8, 1982 with a land area of about 58,867 sq m with a plot ratio of 2.1.
The JV firm intends to apply to the Singapore Land Authority for the grant of a fresh 99-year lease for the property and to lift certain title restrictions.
The deal comes as the property developer in December moved to raise some S$143 million for property investments through a rights issue.
It proposed a renounceable non-underwritten rights issue of up to about 1.44 billion new shares at S$0.10 each, to be issued on the basis of one rights share for every two existing shares to shareholders.
Majority shareholder Haiyi Holdings, which has a 56.17 per cent stake in SingHaiyi, committed to subscribe for not only its pro-rata entitlement of 806 million rights shares, but also to mop up more available rights shares.
Shares of SingHaiyi closed on Thursday at S$0.115, down 0.1 Singapore cent.
price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=5H0.SI
SingHaiyi unit to buy Jalan Lempeng property for S$841m
Thu, Jan 11, 2018 - 10:21 PM Jamie Lee leejamie@sph.com.sg
PROPERTY firm SingHaiyi Group on Thursday said that it will purchase a property along Jalan Lempeng for S$841 million, after the tender submitted by its joint-venture (JV) firm was accepted by the property owners.
The property is known as Park West and located at 2-20 Jalan Lempeng. It is to be acquired by Sing-Haiyi Gold, a 50-50 joint venture between wholly owned subsidiary SingHaiyi Land and Haiyi Wealth, an entity controlled by Gordon Tang and Celine Tang. The husband and wife duo are in turn the controlling shareholders and directors of the company through Haiyi Holdings.
The property comprises a leasehold estate of 99 years commencing on March 8, 1982 with a land area of about 58,867 sq m with a plot ratio of 2.1.
The JV firm intends to apply to the Singapore Land Authority for the grant of a fresh 99-year lease for the property and to lift certain title restrictions.
The deal comes as the property developer in December moved to raise some S$143 million for property investments through a rights issue.
It proposed a renounceable non-underwritten rights issue of up to about 1.44 billion new shares at S$0.10 each, to be issued on the basis of one rights share for every two existing shares to shareholders.
Majority shareholder Haiyi Holdings, which has a 56.17 per cent stake in SingHaiyi, committed to subscribe for not only its pro-rata entitlement of 806 million rights shares, but also to mop up more available rights shares.
Shares of SingHaiyi closed on Thursday at S$0.115, down 0.1 Singapore cent.
price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=5H0.SI
Jupiter2017
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http://www.businesstimes.com.sg/com...profit-rises-128-as-revenue-more-than-triples
SingHaiyi's Q3 net profit rises 12.8% as revenue more than triples
Wed, Feb 07, 2018 - 7:15 PM Lee Meixian leemx@sph.com.sg
SINGHAIYI Group on Wednesday posted a 12.8 per cent increase in net profit to S$1.4 million for its third quarter ended Dec 31, 2017, as revenue more than tripled to S$41.7 million.
The property developer said the surge in turnover arose mainly from the revenue recognised for its completed executive condominium (EC) project, The Vales, as well as sales of completed units from Vietnam Town in the US.
Property development income rose to S$39.2 million, from S$8.9 million a year ago. Cost of sales surged to S$35.8 million, from just S$5.9 million a year ago, but the group said this was "in line with the increase in property development income".
In the quarter, the group had secured the bulk sale of Phase II of Vietnam Town, a 141-unit commercial condominium project in San Jose, for US$95.3 million.
It expects to begin delivery of the first block in Q2 2018. The bulk sale is slated for completion by September 2018, and is expected to have a positive impact on the group's net tangible assets and earnings per share for FY19, it said.
Gross profit margin decreased by 37.1 percentage point year-on-year, which the company attributed mainly to the change in geographical revenue mix as more revenue from property development with lower profit margins was recognised in the latest reporting quarter.
price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=5H0.SI
SingHaiyi's Q3 net profit rises 12.8% as revenue more than triples
Wed, Feb 07, 2018 - 7:15 PM Lee Meixian leemx@sph.com.sg
SINGHAIYI Group on Wednesday posted a 12.8 per cent increase in net profit to S$1.4 million for its third quarter ended Dec 31, 2017, as revenue more than tripled to S$41.7 million.
The property developer said the surge in turnover arose mainly from the revenue recognised for its completed executive condominium (EC) project, The Vales, as well as sales of completed units from Vietnam Town in the US.
Property development income rose to S$39.2 million, from S$8.9 million a year ago. Cost of sales surged to S$35.8 million, from just S$5.9 million a year ago, but the group said this was "in line with the increase in property development income".
In the quarter, the group had secured the bulk sale of Phase II of Vietnam Town, a 141-unit commercial condominium project in San Jose, for US$95.3 million.
It expects to begin delivery of the first block in Q2 2018. The bulk sale is slated for completion by September 2018, and is expected to have a positive impact on the group's net tangible assets and earnings per share for FY19, it said.
Gross profit margin decreased by 37.1 percentage point year-on-year, which the company attributed mainly to the change in geographical revenue mix as more revenue from property development with lower profit margins was recognised in the latest reporting quarter.
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Tangs offer to privatise SingHaiyi Group at 11.7 cents per share
https://www.theedgesingapore.com/ne...fer-privatise-singhaiyi-group-117-cents-share
Gordon and Celine Tang, the couple controlling developer SingHaiyi, is making an offer to privatise the developer.
The offer price of 11.7 cents is a premium of 8.3% over the last traded price of 10.8 cents as of Nov 8.
As at Sept 30, the company’s net asset value per share was 14.96 cents, versus 14.67 cents per share as at March 30.
The Tangs and their concerted parties already control 78.37% of the company and they hope to privatise the company and enjoy more flexibility in managing this business. As a private company, there’s also no compliance and listing costs to be incurred.
According to UOB, which is advising the Tangs, the offer is an opportunity for Shareholders to realise their investment at a premium without incurring brokerage fees.
The offer is also a chance for other shareholders to cash out from this low-liquidity stock.
For 1HFY2021 ended Sept 30, the company reported earnings of $12.5 million, a turnaround from a loss of $4.6 million in the year earlier. Revenue in the same period surged from $50.6 million to $202.8 million.
On Aug 19, the Tangs bought 233.2 million sharesfor $21 million in a married deal. The transaction works out to an average of 9 cents each.
On July 5, SingHaiyi shares spiked more than 40%, drawing a query from SGX.
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