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*Official* Chip Eng Seng (SGX: C29)

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Old 19-10-2017, 11:47 AM   #61
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Share is on a tear last 5 days! Anyone holding this?
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Old 19-10-2017, 11:59 AM   #62
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Share is on a tear last 5 days! Anyone holding this?
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Old 19-10-2017, 01:49 PM   #63
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Wk3 master can buy anot
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Old 03-11-2017, 07:19 AM   #64
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Question Chip Eng Seng terminates Tower Melbourne project on protracted hold-up

Chip Eng Seng terminates Tower Melbourne project on protracted hold-up

http://www.straitstimes.com/business...racted-hold-up



SINGAPORE - CHIP Eng Seng Corp has decided to scrap some 556 sales contracts with buyers of its units in the Australian residential project Tower Melbourne as a result of a protracted litigation that has stalled the project's demolition works for four years.

The mainboard-listed property and construction group said that it was also exploring viable exit options that includes a sale of the property.

"As the legal proceedings may still take a considerable period of time, it is not possible to ascertain when they can be resolved with finality. In the same vein, the company is unable to ascertain when demolition works on the property can recommence, if at all," said Chip Eng Seng in an announcement.

The property was originally a commercial building and was acquired by the company's wholly owned unit in Australia in September 2011 for redevelopment into a 71-storey tower comprising 581 freehold residential units.

Demolition works had stalled since 2013 due to objections raised by the owner of the adjoining property.

"While it has always been the intention to develop Tower Melbourne into an iconic residential landmark within the city of Melbourne, and notwithstanding the company's vigorous and relentless efforts in contesting the legal proceedings, these proceedings have nevertheless been protracted and have resulted in significant delay in the completion of the project," said the firm.

At this juncture, the appropriate course of action for the company was to exercise its contractual right under the outstanding sales contracts to terminate all such contracts with the purchasers, which will allow them to exit the transaction earlier, it said.

The termination of the contracts involves the return in full of the deposit (comprising 10 per cent of the purchase price of the relevant unit) placed by each purchaser, together with interest (if any) accrued on the deposit.
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Old 04-11-2017, 08:56 AM   #65
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http://www.businesstimes.com.sg/comp...roperty-higher
Fri, Nov 03, 2017 - 6:31 PM
Chip Eng Seng Q3 profit more than doubles on sale of Australia property, higher revenue

PROPERTY and construction firm Chip Eng Seng on Friday said that net profit more than doubled on a disposal gain and as revenue rose.
Net profit for the three months ended Sept 30, 2017 stood at S$14.05 million, up from S$5.71 million the same period a year ago.
The firm recorded a gain from the disposal of an office building at 420 St Kilda Road in Melbourne, Australia.
Revenue also rose 37.8 per cent to S$209 million.
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Old 22-11-2017, 10:38 PM   #66
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http://www.businesstimes.com.sg/comp...-joint-venture
Chip Eng Seng unit to acquire two properties in South Perth via joint venture
Wed, Nov 22, 2017 - 8:43 PM Lynette Khoo lynkhoo@sph.com.sg

CHIP Eng Seng Corporation Ltd has agreed to acquire two adjoining properties in South Perth in Australia through a joint venture, with plans to redevelop them into a mixed-use development.
Its newly incorporated wholly owned subsidiary CES South Perth (WA) Pty Ltd entered into a share subscription agreement on Wednesday to subscribe for 7.355 million new shares in CES Sirona Lyall (WA) Pty Ltd, the JV company, for A$7.4 million (S$7.6 million). This represents a 70 per cent stake.
Sirona Lyall Street holds the remaining 30 per cent stake in the JV company.
Concurrent with the share subscription, Sirona Asset Management Pty Ltd exercised the option to purchase two adjoining properties located at 31 Labouchere Road and 24 Lyall Street in South Perth for A$10.9 million. The JV company acquired the properties from Sirona Asset Management for the same price.
The acquisition of the properties by the JV company was completed on Wednesday.
The adjoining properties have a total site area of 2,040 sq m, currently housing three residential style buildings which were leased for commercial office purposes until the recent expiration of the lease. The properties have been vacant since.
CES South Perth and Sirona Lyall Street intend to redevelop the site for a mixed-use development, comprising residential apartments and retail/office suites.
To fund the ongoing capital expenditure of the JV company, CES South Perth and Sirona Lyall Street have each entered into a shareholder loan agreement to provide an interest-free shareholder loan not exceeding A$14.5 million and A$6.2 million respectively.
The availability period for the shareholder loan from CES South Perth is from Nov 22, 2017 to Sept 30, 2019 while the availability period for the shareholder loan from Sirona Lyall Street is from Jan 1, 2019 to Sept 30, 2019.

Price link: http://www.shareinvestor.com/fundame...counter=C29.SI
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Old 22-11-2017, 11:11 PM   #67
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Old 30-11-2017, 06:50 AM   #68
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http://www.businesstimes.com.sg/comp...hotel-for-a43m
Chip Eng Seng acquires Adelaide hotel for A$43m
Wed, Nov 29, 2017 - 10:40 PM Andrea Soh sandrea@sph.com.sg

CONSTRUCTION and property group Chip Eng Seng is acquiring a hotel in the Australian state of Adelaide for A$43 million (S$43.8 million).
The Mercure & Ibis Styles Grosvenor Hotel, managed by AccorHotels, is centrally located in the central business district of Adelaide. The six-storey building has 245 guest rooms in total, and also has other facilities including a restaurant, bar, conference and function facilities, and a basement carpark.
The purchase will be financed by internal sources and external borrowings, said the group. The transaction is not expected to have significant impact on its net tangible assets and earnings per share for the current financial year.
This is Chip Eng Seng's second hotel in Australia within six months, as the group expands its hospitality investment portfolio.
Chip Eng Seng on Nov 2 this year completed the purchase of another AccorHotels-managed hotel in Perth. The acquisition of The Sebel Mandurah, which has 84 rooms, was made for A$15 million.

Price link: http://www.shareinvestor.com/fundame...counter=C29.SI
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Old 02-01-2018, 08:02 AM   #69
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http://www.businesstimes.com.sg/comp...te-development
Chip Eng Seng Corp unit to invest in Ho Chi Minh real estate development
MON, JAN 01, 2018 - 9:39 PM VIVIEN SHIAO vshiao@sph.com.sg

CHIP Eng Seng Corporation announced a proposed investment in a real estate development project in Ho Chi Minh City, Vietnam which will be carried out through a loan agreement and a share purchase agreement.
The company's subsidiary in Vietnam, Viet Investment Link Joint Stock Company (VietLink) entered into a loan agreement with Giai Loi Investment Joint Stock Company to provide Giai Loi with a loan of approximately US$18.8 million.
The company also intends to acquire from Tran Vin Hong an aggregate of 23,270 shares in Giai Loi, representing 75 per cent of the charter capital of Giai Loi.
Prior to the entry into the definitive share purchase agreements for the proposed vendor sale, Mr Hong has granted an option to VietLink to purchase up to 23,270 shares. The total consideration for all the shares subject to the call option is approximately US$19.7 million, with the call option lapsing on May 29, 2018.
The project involves the development and construction of a commercial centre and residential apartments for sale or lease on a site in Ho Chi Minh City. It comprises two residential tower blocks of 17 and 30 levels, and a five-storey commercial centre.
The site has a land area of 4,829 sq m, with an estimated total gross floor area of approximately 50,000 sq m. Construction of the foundation and the basement levels have been completed. Upon completion, the company will (through its shareholding interest in Giai Loi) have an effective interest of 60 per cent in the project.
The loan is funded from internal sources, and it is not expected to have a significant impact on the net tangible assets and earnings per share of the company for the current financial year ending Dec 31, 2017.
Negotiations for the definitive terms and conditions in respect of the proposed vendor sale are currently underway, and subject to the finalisation of the share purchase agreements.

Price link: http://www.shareinvestor.com/fundame...counter=C29.SI
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Old 02-01-2018, 11:50 AM   #70
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cxg by this week /???
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Old 09-01-2018, 05:16 PM   #71
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cxg by this week /???
need new cxg

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Old 09-01-2018, 06:39 PM   #72
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Sold at 1.03 yesterday. Those who want to hold mid term can lah.

Likely will consolidate for awhile. FYI counter party on my bite size slowly purchase and sale was Philips.

need new cxg

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Old 09-01-2018, 07:38 PM   #73
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Sold at 1.03 yesterday. Those who want to hold mid term can lah.

Likely will consolidate for awhile. FYI counter party on my bite size slowly purchase and sale was Philips.
waiting to rebalance at new cxg level

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Old 09-01-2018, 08:05 PM   #74
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What’s cxg?

waiting to rebalance at new cxg level

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Old 09-01-2018, 09:33 PM   #75
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What’s cxg?
Fly to new heights

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