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PR Newswire
07-11-2013, 06:45 PM
Let me contribute
(Vested by the way.)
It faces same past depressions...
(i) lower rental revenue,
(ii) lower profit from trading of investment securities
(iii) lower gain from disposal of RiverGate apartments and
(iv) higher allowance for impairment losses on investment securities.
Its near book value of 29.94cent
http://markets.ft.com/research/Markets/T...?s=H19:SES
FOR
What is going for it is the Paya Lebar property has completed reno and rented out
UK property pick up
Low debt: Total debt/total equity @ 8.16%, Total debt/total capital @ 7.54%
Against
Unsold Rivergate apartments...
so far sold 100 units out of 545 units, (From Oct 2010 to Oct 2013)
co developed by HwaHong & Capitaland
http://www.capitalandresidential.com/por...ergate.asp
http://phx.corporate-ir.net/phoenix.zhtm...&highlight=
http://sgproptalk.blogspot.sg/2012/02/pr...rgate.html
Orchard Medical Centre - JV with 70% Hong leong, called Hong
http://www.luckyplaza.com.sg/directory.p...&pageid=54
Total 56 doctors’ suites
Sold 9, Left 38
http://www.stproperty.sg/articles-proper...le/a/59225
Other writes on HwaHong
http://www.sharesinv.com/articles/2013/0...93-220413/
Commentary from company on recent results
"In Singapore, the resale market for residential properties continues to be weak. As a result, up to Q3, only one unit of the RiverGate apartment was sold. Our associate company however was able to sell 9 medical office units of the Orchard Medical Centre. Our share of SGD792,000 profit was recognised in Q3 arising from the sale of 2 medical office units. Our share of profits from the sale of the additional 7 medical office units of SGD3 million is expected to be recognized in Q4. The associate has a balance of 38 unsold units.
The residential market in UK is buoyant in terms of price and rental and the Group is looking to capitalize on the strong demand The Group is currently in negotiations for investments in both the commercial and residential sectors.
With signs of a gradual recovery in the UK economy, the Group has plans to reposition the service offices to long-lease offices that will result in lower operating costs and higher income. The repositioning may affect income in the first half of 2014 as existing short-term leases are likely to be terminated.
The Group’s property and investment portfolio will continue to provide a recurrent income for the coming year.
The Group had on 7 October 2013 announced the redemption of loan notes (“Notes”) issued by Eastcomm Pte. Ltd. to ordinary shares in the share capital of AsiaPhos Limited (“AsiaPhos”). The redemption of the Notes and accrued interest resulted in 24,452,384 AsiaPhos shares being issued to the Group at a cost of $0.1875 per AsiaPhos share. Based on the invitation price of $0.25 per AsiaPhos share, the Group had an unrealised fair value gain of approximately $1.5 million on the date of the AsiaPhos Listing. The Group has to observe a 6 months moratorium which will end on 6 April 2014."
(Vested by the way.)
It faces same past depressions...
(i) lower rental revenue,
(ii) lower profit from trading of investment securities
(iii) lower gain from disposal of RiverGate apartments and
(iv) higher allowance for impairment losses on investment securities.
Its near book value of 29.94cent
http://markets.ft.com/research/Markets/T...?s=H19:SES
FOR
What is going for it is the Paya Lebar property has completed reno and rented out
UK property pick up
Low debt: Total debt/total equity @ 8.16%, Total debt/total capital @ 7.54%
Against
Unsold Rivergate apartments...
so far sold 100 units out of 545 units, (From Oct 2010 to Oct 2013)
co developed by HwaHong & Capitaland
http://www.capitalandresidential.com/por...ergate.asp
http://phx.corporate-ir.net/phoenix.zhtm...&highlight=
http://sgproptalk.blogspot.sg/2012/02/pr...rgate.html
Orchard Medical Centre - JV with 70% Hong leong, called Hong
http://www.luckyplaza.com.sg/directory.p...&pageid=54
Total 56 doctors’ suites
Sold 9, Left 38
http://www.stproperty.sg/articles-proper...le/a/59225
Other writes on HwaHong
http://www.sharesinv.com/articles/2013/0...93-220413/
Commentary from company on recent results
"In Singapore, the resale market for residential properties continues to be weak. As a result, up to Q3, only one unit of the RiverGate apartment was sold. Our associate company however was able to sell 9 medical office units of the Orchard Medical Centre. Our share of SGD792,000 profit was recognised in Q3 arising from the sale of 2 medical office units. Our share of profits from the sale of the additional 7 medical office units of SGD3 million is expected to be recognized in Q4. The associate has a balance of 38 unsold units.
The residential market in UK is buoyant in terms of price and rental and the Group is looking to capitalize on the strong demand The Group is currently in negotiations for investments in both the commercial and residential sectors.
With signs of a gradual recovery in the UK economy, the Group has plans to reposition the service offices to long-lease offices that will result in lower operating costs and higher income. The repositioning may affect income in the first half of 2014 as existing short-term leases are likely to be terminated.
The Group’s property and investment portfolio will continue to provide a recurrent income for the coming year.
The Group had on 7 October 2013 announced the redemption of loan notes (“Notes”) issued by Eastcomm Pte. Ltd. to ordinary shares in the share capital of AsiaPhos Limited (“AsiaPhos”). The redemption of the Notes and accrued interest resulted in 24,452,384 AsiaPhos shares being issued to the Group at a cost of $0.1875 per AsiaPhos share. Based on the invitation price of $0.25 per AsiaPhos share, the Group had an unrealised fair value gain of approximately $1.5 million on the date of the AsiaPhos Listing. The Group has to observe a 6 months moratorium which will end on 6 April 2014."