Tuan Sing Holdings

[cyclone]

Tuan Sing and Rich Capital Acquires Peak Court for S$118.88M

SGX-Mainboard listed Tuan Sing Holdings Limited and Rich Capital Holdings Limited have successfully acquired Peak Court, a freehold residential site at 333 Thomson Road for S$118.88 million by way of a collective sale tender.

Peak Court, a 35-year-old development comprising a 4-storey block with a total of 20 maisonette units, presently occupies the 57,378 sq ft land area. Based on the plot ratio of 1.4 and an estimated gross floor area of about 80,329 sq ft, the purchase price of the site works out to about $1,558 psf per plot ratio. The Thomson-Novena area is sought after for its proximity to highly popular schools, Orchard Road, Central Business District and lifestyle & medical facilities. Sitting on elevated grounds, the site offers unobstructed views across the Thomson precinct and is within proximity to the Novena MRT and the upcoming Mt Pleasant MRT of the Thomson-East Coast Line.

Tuan Sing and Rich Capital’s shareholding in the joint venture company is 70% and 30% respectively. The partners expect to complete the acquisition in August 2018 and will work on redevelopment for a launch in 2019.

More details in :
1. http://infopub.sgx.com/FileOpen/TBA_1805...eID=505340
2. http://infopub.sgx.com/FileOpen/TBA_1805...t%20for%20$118.88M_final_revised.ashx?App=Announcement&FileID=505341

[thinleyw]

If you like Tuan Sing Holdings, check out SP Corporation Limited. It's cheaper and owned by Tuan Sing.

[¯|_(ツ)_/¯]

Halted
https://links.sgx.com/1.0.0/corporate-an...fc1db88ad5

Stay home and stay safe, everyone,

[weijian]

Halted
https://links.sgx.com/1.0.0/corporate-an...fc1db88ad5

Stay home and stay safe, everyone,

Tuan Sing to divest Robinson Point for S$500m

PROPERTY developer Tuan Sing Holdings is proposing to divest Robinson Point for S$500 million, the mainboard-listed firm announced in a bourse filing. Tuan Sing expects to realise a gain of about S$128.3 million on the sale. The proceeds may be recycled to fund committed investments, retire existing debts and fund general corporate and working capital needs.

https://www.businesstimes.com.sg/compani...-for-s500m

[CY09]

https://links.sgx.com/FileOpen/TuanSing_...eID=677699

The divestment of Robinson Point is completed and the company has recognized the profits upon disposal.

NAV has increased. Performance in other segments has been improving as well especially its industrial services, this probably explains why the company share prices have been increasing in the past few months due to the re-ratings with increased earnings.

[weijian]

Some time ago, hospitality brands have been signing up/converting hotel independents into their brands. In the era of Airbnb and OTAs, this conversion trend is only accelerating. So it is brave of Tuan Sing to do the opposite - paying a breakup fee to Hyatt Hotels and then doing their own brand/operations.

As a result, Tuan Sing loses the access to 40mil members in the World of Hyatt loyalty program. Then they have to pay brokering fees of ~10-15% to OTAs who direct the booking to their sites. And their IT systems' costs are only amortized over 1 hotel (probably 3 in time to come). Reminds me of the hoteliers at Hotel Grand Central and Hotel Royal.

Residence on Langley Park announces launch at former Hyatt Regency Perth Site

A new hospitality offering is set to launch in Perth, Western Australia, with Residence on Langley Park commencing business and welcoming guests on September 1, 2024. This will be the first Australian-based hospitality venture managed by Grand Hotel Group ("GHG"), a subsidiary of Tuan Sing Holdings. Operated by Residence on Langley Park Pty Ltd, the new offering will be a significant addition to the region’s hospitality scene.

https://links.sgx.com/FileOpen/Residence...eID=814309

[CY09]

Japanese companies have been successful in creating their own hotel brands as well [Think sotetsu and Dormy Inn Chains]

Far East too has seen success in its oasia. Let's see if Tuan Sing will see sucess.