GuocoLand Limited *Official* (SGX: F17)
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Yes overbidded. That area commercial is very lacklustre.
Lucky I sold off and took profit.
I think they may call for rights since they overbidded.
What a poor poor decision.
Jupiter2017
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http://www.businesstimes.com.sg/companies-markets/huge-q1-profit-jump-for-guocoland
Thu, Oct 19, 2017 - 11:31 PM
Huge Q1 profit jump for GuocoLand
GUOCOLAND posted a higher first quarter net profit of S$165.55 million, up from S$25.64 million a year-ago.
Earnings per share were 14.92 Singapore cents compared to 2.31 Singapore cents.
Revenue for the first quarter ended Sep 30 jumped 79 per cent to S$361.98 million.
Gross profit surged 41 per cent to S$60.38 million mainly due to higher sales and progressive revenue recognition from its residential projects in Singapore.
It also posted S$170.54 million in share of profit of associates and joint ventures, a reversal from a loss of S$119,000 for a year-ago period.
GuocoLand pointed to two key signs of commercial and residential property markets strengthening in Singapore. Flash estimates released by the Urban Redevelopment Authority for the third quarter reflected a 0.5 per cent increase in private residential property prices after 15 consecutive quarters of decline.
Separately, several property consultants have indicated that Grade A office rents in the Central Business District may have picked up.
It highlighted its intent to develop a new iconic city-centre work-live-play destination at a prime commercial site it secured in Beach Road.
Thu, Oct 19, 2017 - 11:31 PM
Huge Q1 profit jump for GuocoLand
GUOCOLAND posted a higher first quarter net profit of S$165.55 million, up from S$25.64 million a year-ago.
Earnings per share were 14.92 Singapore cents compared to 2.31 Singapore cents.
Revenue for the first quarter ended Sep 30 jumped 79 per cent to S$361.98 million.
Gross profit surged 41 per cent to S$60.38 million mainly due to higher sales and progressive revenue recognition from its residential projects in Singapore.
It also posted S$170.54 million in share of profit of associates and joint ventures, a reversal from a loss of S$119,000 for a year-ago period.
GuocoLand pointed to two key signs of commercial and residential property markets strengthening in Singapore. Flash estimates released by the Urban Redevelopment Authority for the third quarter reflected a 0.5 per cent increase in private residential property prices after 15 consecutive quarters of decline.
Separately, several property consultants have indicated that Grade A office rents in the Central Business District may have picked up.
It highlighted its intent to develop a new iconic city-centre work-live-play destination at a prime commercial site it secured in Beach Road.
Jupiter2017
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http://www.businesstimes.com.sg/companies-markets/guocoland-announces-internal-restructuring
GuocoLand announces internal restructuring
Fri, Nov 17, 2017 - 9:11 PM Vivien Shiao vshiao@sph.com.sg
GUOCOLAND Limited announced on Friday that it has undertaken an internal restructuring exercise where certain hotels in the GuocoLand Group, held and owned by different subsidiaries within the GuocoLand Group in Singapore and Malaysia, will be consolidated under a distinct strategic business unit GuocoLand Hotels (GLL Hotels).
The company said that the internal restructuring will enable the GuocoLand Group to "better align its holding of hotel assets, promote business efficacy and enhance synergy".
It will involve the transfer of shares in the company's subsidiaries holding the respective hotel assets to GLL Hotels.
On the Singapore side, GLL Hotels had entered into an agreement with GuocoLand Singapore in which 8 million shares representing 80 per cent of the issued and paid-up share capital of TPC Hotel were transferred from GuocoLand Singapore to GLL Hotels. GuocoLand Singapore owns 80 per cent of TPC Hotel's shares. TPC Hotel owns Sofitel Singapore City Centre. Following the internal restructuring, the company's indirect interest in TPC Hotel remains unchanged at 80 per cent.
The internal restructuring is not expected to have any material effect on the net tangible assets per share or earnings per share of the GuocoLand Group for the current financial year ending 30 June 2018.
Price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=F17.SI
GuocoLand announces internal restructuring
Fri, Nov 17, 2017 - 9:11 PM Vivien Shiao vshiao@sph.com.sg
GUOCOLAND Limited announced on Friday that it has undertaken an internal restructuring exercise where certain hotels in the GuocoLand Group, held and owned by different subsidiaries within the GuocoLand Group in Singapore and Malaysia, will be consolidated under a distinct strategic business unit GuocoLand Hotels (GLL Hotels).
The company said that the internal restructuring will enable the GuocoLand Group to "better align its holding of hotel assets, promote business efficacy and enhance synergy".
It will involve the transfer of shares in the company's subsidiaries holding the respective hotel assets to GLL Hotels.
On the Singapore side, GLL Hotels had entered into an agreement with GuocoLand Singapore in which 8 million shares representing 80 per cent of the issued and paid-up share capital of TPC Hotel were transferred from GuocoLand Singapore to GLL Hotels. GuocoLand Singapore owns 80 per cent of TPC Hotel's shares. TPC Hotel owns Sofitel Singapore City Centre. Following the internal restructuring, the company's indirect interest in TPC Hotel remains unchanged at 80 per cent.
The internal restructuring is not expected to have any material effect on the net tangible assets per share or earnings per share of the GuocoLand Group for the current financial year ending 30 June 2018.
Price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=F17.SI
Mancunian2
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Jupiter2017
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http://www.businesstimes.com.sg/real-estate/guocolands-ecoworld-could-buy-sydney-residences-for-a40m
Guocoland's EcoWorld could buy Sydney residences for A$40m
Fri, Nov 24, 2017 - 1:58 PM Kenneth Lim kenlim@sph.com.sg
GUOCOLAND'S Malaysia-listed unit, EcoWorld International, has entered into an option agreement that will allow it to buy 25 out of 30 strata units in a Sydney site for A$33.8 million (S$34.7 million).
EcoWorld has until Sept 7, 2018 to exercise its option to purchase. If it does not exercise the option by that date, the owners of the 25 apartments have 30 days to force EcoWorld to buy the units from them.
The agreement gives EcoWorld consent from owners holding 84.2 per cent of the unit entitlements in the site, more than the 75 per cent required under Australian law to redevelop or sell. EcoWorld will seek to acquire the remaining five units by negotiation or through the strata renewal process.
Assuming the remaining five units are acquired at the same rate of A$3,635 per square metre, EcoWorld could pay A$40 million for the project.
Located at 1 to 3 Lachlan Ave in Macquarie Park, the site lies 12 kilometres north-west of Sydney's central business district, close to the Macquarie Innovation Park District.
Both Guocoland and EcoWorld are property development companies.
Price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=F17.SI
Guocoland's EcoWorld could buy Sydney residences for A$40m
Fri, Nov 24, 2017 - 1:58 PM Kenneth Lim kenlim@sph.com.sg
GUOCOLAND'S Malaysia-listed unit, EcoWorld International, has entered into an option agreement that will allow it to buy 25 out of 30 strata units in a Sydney site for A$33.8 million (S$34.7 million).
EcoWorld has until Sept 7, 2018 to exercise its option to purchase. If it does not exercise the option by that date, the owners of the 25 apartments have 30 days to force EcoWorld to buy the units from them.
The agreement gives EcoWorld consent from owners holding 84.2 per cent of the unit entitlements in the site, more than the 75 per cent required under Australian law to redevelop or sell. EcoWorld will seek to acquire the remaining five units by negotiation or through the strata renewal process.
Assuming the remaining five units are acquired at the same rate of A$3,635 per square metre, EcoWorld could pay A$40 million for the project.
Located at 1 to 3 Lachlan Ave in Macquarie Park, the site lies 12 kilometres north-west of Sydney's central business district, close to the Macquarie Innovation Park District.
Both Guocoland and EcoWorld are property development companies.
Price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=F17.SI
Jupiter2017
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http://www.businesstimes.com.sg/companies-markets/jiak-kim-st-bid-fcl-can-opt-for-long-term-play
HOCK LOCK SIEW
Jiak Kim St bid: FCL can opt for long-term play
WED, DEC 20, 2017 - 5:50 AM KALPANA RASHIWALA kalpana@sph.com.sg
FRASERS Centrepoint Ltd's (FCL's) winning bid earlier this month for the Jiak Kim Street plot has been deemed to be bullish.
The S$1,732.55 per square foot per plot ratio (psf ppr) is some 40 per cent higher than the S$1,239 psf ppr that GuocoLand paid in June last year for a nearby site which it is developing into the Martin Modern condo.
FCL's bid set a new high for a 99-year leasehold pure private residential site or residential site with first storey commercial use sold at a state tender.
A seasoned property consultant estimates that GuocoLand's breakeven cost for the Martin Modern project is about S$1,900 psf. According to URA Realis data as of Tuesday, GuocoLand has to date sold 211 units in the development at an average price of S$2,254 psf. So far it has released 211 units - less than half the 450 in the project.
The consultant estimates Frasers Centrepoint's breakeven cost for the Jiak Kim project at around S$2,450 psf. Assuming FCL needs a profit margin of, say, 10 per cent, it would be eyeing an average selling price of around S$2,700 psf.
This pricing level reflects a 20 per cent increase from the Martin Modern price. What are the chances that FCL will be able to attract buyers if it were to launch its project on the Jiak Kim Street site in about a year's time at S$2,700 psf?
Here's one way of looking at things. The Jiak Kim plot, which also includes three conserved warehouse buildings that once used to house the Zouk nightspot, is superior location-wise to the Martin Modern site.
Superior location
For one, the Jiak Kim site fronts the Singapore River whereas Martin Modern will not be a riverfronting development, though some units in the condo will enjoy views of the river.
Moreover, the Jiak Kim Street plot is also seen as being more accessible - as it is just off Kim Seng and Havelock roads in addition to being closer to an MRT station (the future Great World and Havelock stations on the Thomson-East Coast Line) compared with the Martin Modern site.
Based on these attributes, one could argue that currently, residential units on the Jiak Kim site could command 5 to 10 per cent more than Martin Modern. For the sake of argument, let's assume the upper end of this range.
It is not unimaginable for, say, a further 10 per cent price appreciation in the next 12 months given the prevailing buoyant sentiment - which would result in an average price of S$2,727 psf for FCL's project.
In short, FCL can achieve a price that will allow it to earn an estimated 10 per cent profit margin on the development.
Moreover, FCL has other options. The group, which is an established owner and operator of serviced apartments, may choose to build serviced apartments on the Jiak Kim site, as allowed under the Urban Redevelopment Authority's tender conditions for this site.
Upfront remission of the 15 per cent additional buyer's stamp duty on the site's purchase price of S$955.41 million - which would amount to a whopping S$143.3 million - would be available if FCL decides to develop serviced apartments, just as it would if it were to build strata apartments for sale.
The ABSD remission will be subject to several conditions; for a serviced apartment project, these would include FCL never ever converting the serviced apartments to strata apartments for sale. If it does, penalties would apply
Assuming one is confident about the long-term prospects for Singapore, developing serviced residences on a riverfronting District 9 site is workable.
From an internal rate of return and cashflow perspective, though, FCL may well opt to develop strata apartments for sale.
The annual net income from operating serviced apartments on the site would only be a small percentage - 5 per cent or less - of the capital value of the completed project. It would take many years before FCL recoups its investment.
On the other hand, if the group were to develop the Jiak Kim site into apartments for sale, it would be able to recover its total development cost and even earn a profit from the project by the time the project is completed in three or four years' time - assuming the current upbeat sentiment in the residential property market continues to prevail over the next few years.
So FCL has the option of a long-term play or short-term play on the Jiak Kim site.
Martin Modern benefits
GuocoLand began selling Martin Modern in July this year and to date it has released only 211 units. Its strategy has been one of controlled release of units accompanied by an inching up of prices as each batch of units is released.
Analysts say GuocoLand could further slow down or even halt the release of new units in Martin Modern - until closer to the time when FCL launches its Jiak Kim project - to ride on higher prices.
GuocoLand, controlled by Malaysian tycoon Quek Leng Chan, was the second lowest bidder at the Jiak Kim tender, offering S$835.44 million or S$1,515 psf ppr. It was probably just trying its luck, or to borrow a Malay phrase, was on a tikam-tikam expedition at the tender.
Price link:
http://www.shareinvestor.com/fundamental/factsheet.html?counter=TQ5.SI
http://www.shareinvestor.com/fundamental/factsheet.html?counter=F17.SI
HOCK LOCK SIEW
Jiak Kim St bid: FCL can opt for long-term play
WED, DEC 20, 2017 - 5:50 AM KALPANA RASHIWALA kalpana@sph.com.sg
FRASERS Centrepoint Ltd's (FCL's) winning bid earlier this month for the Jiak Kim Street plot has been deemed to be bullish.
The S$1,732.55 per square foot per plot ratio (psf ppr) is some 40 per cent higher than the S$1,239 psf ppr that GuocoLand paid in June last year for a nearby site which it is developing into the Martin Modern condo.
FCL's bid set a new high for a 99-year leasehold pure private residential site or residential site with first storey commercial use sold at a state tender.
A seasoned property consultant estimates that GuocoLand's breakeven cost for the Martin Modern project is about S$1,900 psf. According to URA Realis data as of Tuesday, GuocoLand has to date sold 211 units in the development at an average price of S$2,254 psf. So far it has released 211 units - less than half the 450 in the project.
The consultant estimates Frasers Centrepoint's breakeven cost for the Jiak Kim project at around S$2,450 psf. Assuming FCL needs a profit margin of, say, 10 per cent, it would be eyeing an average selling price of around S$2,700 psf.
This pricing level reflects a 20 per cent increase from the Martin Modern price. What are the chances that FCL will be able to attract buyers if it were to launch its project on the Jiak Kim Street site in about a year's time at S$2,700 psf?
Here's one way of looking at things. The Jiak Kim plot, which also includes three conserved warehouse buildings that once used to house the Zouk nightspot, is superior location-wise to the Martin Modern site.
Superior location
For one, the Jiak Kim site fronts the Singapore River whereas Martin Modern will not be a riverfronting development, though some units in the condo will enjoy views of the river.
Moreover, the Jiak Kim Street plot is also seen as being more accessible - as it is just off Kim Seng and Havelock roads in addition to being closer to an MRT station (the future Great World and Havelock stations on the Thomson-East Coast Line) compared with the Martin Modern site.
Based on these attributes, one could argue that currently, residential units on the Jiak Kim site could command 5 to 10 per cent more than Martin Modern. For the sake of argument, let's assume the upper end of this range.
It is not unimaginable for, say, a further 10 per cent price appreciation in the next 12 months given the prevailing buoyant sentiment - which would result in an average price of S$2,727 psf for FCL's project.
In short, FCL can achieve a price that will allow it to earn an estimated 10 per cent profit margin on the development.
Moreover, FCL has other options. The group, which is an established owner and operator of serviced apartments, may choose to build serviced apartments on the Jiak Kim site, as allowed under the Urban Redevelopment Authority's tender conditions for this site.
Upfront remission of the 15 per cent additional buyer's stamp duty on the site's purchase price of S$955.41 million - which would amount to a whopping S$143.3 million - would be available if FCL decides to develop serviced apartments, just as it would if it were to build strata apartments for sale.
The ABSD remission will be subject to several conditions; for a serviced apartment project, these would include FCL never ever converting the serviced apartments to strata apartments for sale. If it does, penalties would apply
Assuming one is confident about the long-term prospects for Singapore, developing serviced residences on a riverfronting District 9 site is workable.
From an internal rate of return and cashflow perspective, though, FCL may well opt to develop strata apartments for sale.
The annual net income from operating serviced apartments on the site would only be a small percentage - 5 per cent or less - of the capital value of the completed project. It would take many years before FCL recoups its investment.
On the other hand, if the group were to develop the Jiak Kim site into apartments for sale, it would be able to recover its total development cost and even earn a profit from the project by the time the project is completed in three or four years' time - assuming the current upbeat sentiment in the residential property market continues to prevail over the next few years.
So FCL has the option of a long-term play or short-term play on the Jiak Kim site.
Martin Modern benefits
GuocoLand began selling Martin Modern in July this year and to date it has released only 211 units. Its strategy has been one of controlled release of units accompanied by an inching up of prices as each batch of units is released.
Analysts say GuocoLand could further slow down or even halt the release of new units in Martin Modern - until closer to the time when FCL launches its Jiak Kim project - to ride on higher prices.
GuocoLand, controlled by Malaysian tycoon Quek Leng Chan, was the second lowest bidder at the Jiak Kim tender, offering S$835.44 million or S$1,515 psf ppr. It was probably just trying its luck, or to borrow a Malay phrase, was on a tikam-tikam expedition at the tender.
Price link:
http://www.shareinvestor.com/fundamental/factsheet.html?counter=TQ5.SI
http://www.shareinvestor.com/fundamental/factsheet.html?counter=F17.SI
Jupiter2017
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http://www.businesstimes.com.sg/com...-on-absence-of-divestment-gain-from-associate
GuocoLand's Q2 profit slumps on absence of divestment gain from associate
Thu, Feb 01, 2018 - 8:12 PM Lynette Khoo lynkhoo@sph.com.sg
GUOCOLAND Limited reported a 25 per cent drop in net profit to S$43 million in the second quarter ended Dec 31, 2017 due to a divestment gain by an associate in the comparative period.
Its revenue jumped 60 per cent to S$370.6 million, thanks mainly to stronger sales and higher progressive revenue recognition from its Singapore residential projects.
During the quarter, its share of profit from associates and joint ventures fell to S$9 million from S$44.8 million a year ago as it recognised a one-time gain from the divestment of a land parcel in the year-ago quarter.
For the fiscal first-half, GuocoLand's net profit more than doubled to S$208.5 million from S$82.8 million a year ago on the back of higher revenue and share of profit of associates and joint ventures.
The 69 per cent jump in revenue for the six-month period to S$732.5 million was led by stronger performance of its residential projects in Singapore.
Contribution from Changfeng Residence, a joint-venture residential project in Shanghai that has been substantially sold and completed, was the main reason behind the surge in share of profit of associates and joint ventures to S$179.5 million in the six-month period, up from S$44.7 million in the year-ago period.
Giving an update on its projects in Singapore, GuocoLand said that its city-fringe condominium project Sims Urban Oasis has obtained its temporary occupation permit in October last year. The 1,024-unit project was about 94 per cent sold as at end-2017.
Its luxury residential project Martin Modern at Martin Place, launched last July, sold 210 units out of a total of 450 units as at end-2017.
The group secured a commercial site in Beach Road last October for S$1.622 billion in a 70-30 joint venture with its parent, Hong Kong-listed Guoco Group. Both companies are controlled by Malaysian tycoon Quek Leng Chan.
price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=F17.SI
GuocoLand's Q2 profit slumps on absence of divestment gain from associate
Thu, Feb 01, 2018 - 8:12 PM Lynette Khoo lynkhoo@sph.com.sg
GUOCOLAND Limited reported a 25 per cent drop in net profit to S$43 million in the second quarter ended Dec 31, 2017 due to a divestment gain by an associate in the comparative period.
Its revenue jumped 60 per cent to S$370.6 million, thanks mainly to stronger sales and higher progressive revenue recognition from its Singapore residential projects.
During the quarter, its share of profit from associates and joint ventures fell to S$9 million from S$44.8 million a year ago as it recognised a one-time gain from the divestment of a land parcel in the year-ago quarter.
For the fiscal first-half, GuocoLand's net profit more than doubled to S$208.5 million from S$82.8 million a year ago on the back of higher revenue and share of profit of associates and joint ventures.
The 69 per cent jump in revenue for the six-month period to S$732.5 million was led by stronger performance of its residential projects in Singapore.
Contribution from Changfeng Residence, a joint-venture residential project in Shanghai that has been substantially sold and completed, was the main reason behind the surge in share of profit of associates and joint ventures to S$179.5 million in the six-month period, up from S$44.7 million in the year-ago period.
Giving an update on its projects in Singapore, GuocoLand said that its city-fringe condominium project Sims Urban Oasis has obtained its temporary occupation permit in October last year. The 1,024-unit project was about 94 per cent sold as at end-2017.
Its luxury residential project Martin Modern at Martin Place, launched last July, sold 210 units out of a total of 450 units as at end-2017.
The group secured a commercial site in Beach Road last October for S$1.622 billion in a 70-30 joint venture with its parent, Hong Kong-listed Guoco Group. Both companies are controlled by Malaysian tycoon Quek Leng Chan.
price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=F17.SI
Mergui219067
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Got agm? Eat free bento?
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Bull market we lose money
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