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ChipEngS - Low PE, High Yield and High NAV in One Post Reply Rate topic
LianBeng Member	16-Apr-2016 10:00        LianBeng About Contact  Quote this Post!
x 0   x 0  Alert Admin	2015 Q4 recorded an impairment loss on development properties of 10.4 million. If this related to this project, the impairment will reverse soon. Then profit increased by 10.4 million. Qanghoo      ( Date: 16-Apr-2016 00:01) Posted: Very convenient - on fringe of CBD.  Next door to entrance of the future Katong Park MRT Station, close to city n stadium, also  running n cycling track all the way to Marina Barrage,    Short walk to Dumman High School too.  Very strong selling pts.  So, shd sell well even with this kind of px, current mkt conditions notwithstanding.  Margins very good too.  I think shd be sold out by end of current FY.  Bumper  profit n sd again? tangsookiam1947      ( Date: 15-Apr-2016 22:39) Posted:   CES managed to sell Fulcrum at $2327 PSF in this type of market condition!!!!
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tangsookiam1947 Master	16-Apr-2016 08:20        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Should easily achieve 7.5 to 8 cents EPS for FY16, if sold out within FY16. Plus many other sources of EPS too (including High Park Residence, land sales at Victoria, improving hotel margins as occupany improves, investment properties including full year recognition for CES centre, construction income which is bread and butter). I expect full year EPS to be around 22 cents.
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Qanghoo Supreme	16-Apr-2016 00:01        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Very convenient - on fringe of CBD.  Next door to entrance of the future Katong Park MRT Station, close to city n stadium, also  running n cycling track all the way to Marina Barrage,    Short walk to Dumman High School too.  Very strong selling pts.  So, shd sell well even with this kind of px, current mkt conditions notwithstanding.  Margins very good too.  I think shd be sold out by end of current FY.  Bumper  profit n sd again? tangsookiam1947      ( Date: 15-Apr-2016 22:39) Posted:   CES managed to sell Fulcrum at $2327 PSF in this type of market condition!!!!
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LianBeng Member	15-Apr-2016 23:05        LianBeng About Contact  Quote this Post!
x 0   x 0  Alert Admin	May be obtained TOP give some premium. Anyway, management do a good job tangsookiam1947      ( Date: 15-Apr-2016 22:39) Posted:   CES managed to sell Fulcrum at $2327 PSF in this type of market condition!!!!
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tangsookiam1947 Master	15-Apr-2016 22:39        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	CES managed to sell Fulcrum at $2327 PSF in this type of market condition!!!!
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tangsookiam1947 Master	15-Apr-2016 19:34        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	8 Apr 2016 33 Fort Road #XX-XX New Sale 474 Strata 2,327 1,102,000 N.A 6 Apr 2016 33 Fort Road #XX-XX New Sale 441 Strata 2,008 886,000 N.A 3 Apr 2016 33 Fort Road #XX-XX New Sale 441 Strata 1,976 872,000 N.A 3 Apr 2016 33 Fort Road #XX-XX New Sale 474 Strata 2,059 975,000 N.A 3 Apr 2016 33 Fort Road #XX-XX New Sale 829 Strata 1,800 1,491,888 N.A 30 Mar 2016 33 Fort Road #XX-XX New Sale 678 Strata 2,211 1,499,465 N.A 30 Mar 2016 33 Fort Road #XX-XX New Sale 678 Strata 2,179 1,477,575 N.A 29 Mar 2016 33 Fort Road #XX-XX New Sale 700 Strata 2,157 1,509,000 N.A 29 Mar 2016 33 Fort Road #XX-XX New Sale 818 Strata 1,699 1,390,000 N.A 24 Mar 2016 33 Fort Road #XX-XX New Sale 840 Strata 1,816 1,525,000 N.A 22 Mar 2016 33 Fort Road #XX-XX New Sale 678 Strata 1,980 1,343,000 N.A
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tangsookiam1947 Master	12-Apr-2016 15:40        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	If EPS indeed improves by 100%, we should see higher dividend too. Q1 2016 results should be interesting. It should include the 4 cents EPS from the land sales at Victoria ...
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Qanghoo Supreme	11-Apr-2016 13:09        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thx a lot, brother.  Very encouraging ..... tangsookiam1947      ( Date: 11-Apr-2016 13:04) Posted: HPR total EPS = 18 cents spread over 3 yrs. So for FY16, 6 cents will be recognized. total for FY16 = 22 cents (including 6 cents from HPR)
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tangsookiam1947 Master	11-Apr-2016 13:04        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	HPR total EPS = 18 cents spread over 3 yrs. So for FY16, 6 cents will be recognized. total for FY16 = 22 cents (including 6 cents from HPR)
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Qanghoo Supreme	11-Apr-2016 12:58        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Brother.  thx.  Think HR over three yrs, so, FY16 shd be 18c?  Still good, giving PE < 4.  Now with CD, so to me good entry pt cost buying at ard 66c. tangsookiam1947      ( Date: 11-Apr-2016 12:27) Posted: EPS for 2016 likely to be much higher compared to 2015. a. Fulcrum (if fully sold in 2016) - 7.5 cents b. High park residence - 6 cents (per annum over next 3 yrs) c. land sales at Victoria, Australia - 4 cents d. construction income - 2.5 cents e. Investment properties + hotel - 2 cents total EPS (estimated) for 2016 = 22 cents, 100% improvement over 2015.
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tangsookiam1947 Master	11-Apr-2016 12:27        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	EPS for 2016 likely to be much higher compared to 2015. a. Fulcrum (if fully sold in 2016) - 7.5 cents b. High park residence - 6 cents (per annum over next 3 yrs) c. land sales at Victoria, Australia - 4 cents d. construction income - 2.5 cents e. Investment properties + hotel - 2 cents total EPS (estimated) for 2016 = 22 cents, 100% improvement over 2015.
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tangsookiam1947 Master	10-Apr-2016 23:49        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	URBAN REDEVELOPMENT AUTHORITY - PRIVATE RESIDENTIAL PROPERTY TRANSACTIONS WITH CAVEATS LODGED OR OPTIONS ISSUED                                                           S/N Project Name Street Name Type Postal District Market Segment Tenure Type of Sale No. of Units Price ($) Nett Price ($) Area (Sqft) Type of Area Floor Level Unit Price ($psf) Date of Sale         1 FULCRUM FORT ROAD Condominium 15 RCR Freehold New Sale 1 975000 - 474 Strata 11 to 15 2059 Apr-16         12082928 2 FULCRUM FORT ROAD Condominium 15 RCR Freehold New Sale 1 1491888 - 829 Strata 16 to 20 1800 Apr-16         6136 3 FULCRUM FORT ROAD Condominium 15 RCR Freehold New Sale 1 872000 - 441 Strata 01 to 05 1976 Apr-16         1969.186 4 FULCRUM FORT ROAD Condominium 15 RCR Freehold New Sale 1 1499465 - 678 Strata 16 to 20 2211 Mar-16           5 FULCRUM FORT ROAD Condominium 15 RCR Freehold New Sale 1 1477575 - 678 Strata 16 to 20 2179 Mar-16           6 FULCRUM FORT ROAD Condominium 15 RCR Freehold New Sale 1 1509000 - 700 Strata 16 to 20 2157 Mar-16           7 FULCRUM FORT ROAD Condominium 15 RCR Freehold New Sale 1 1390000 - 818 Strata 11 to 15 1699 Mar-16           8 FULCRUM FORT ROAD Condominium 15 RCR Freehold New Sale 1 1525000 - 840 Strata 16 to 20 1816 Mar-16           9 FULCRUM FORT ROAD Condominium 15 RCR Freehold New Sale 1 1343000 - 678 Strata 01 to 05 1980 Mar-16             CES has started selling Fulcrum. 9 units sold in March and early April 2016 at average PSF of close to $2000 PSF!!!
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Qanghoo Supreme	14-Mar-2016 00:28        Qanghoo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Brother, thx.  This one actually sold last yr.  But completed only this yr.  Shd be accounted for in current qtr result. So, there' d be a boost.  tangsookiam1947      ( Date: 13-Mar-2016 23:03) Posted: SINGAPORE - Chip Eng Seng Corporation (CES) has entered into a sales contract to sell a vacant development site in Victoria Street in Melbourne, Victoria, the company said on Friday. The sale price of the site is A$64.8 million (S$68.9 million), plus goods and services tax. The settlement date is March 26, 2016. http://www.straitstimes.com/business/companies-markets/chip-eng-seng-sells-melbourne-site-for-twice-of-what-it-paid
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tangsookiam1947 Master	13-Mar-2016 23:03        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	SINGAPORE - Chip Eng Seng Corporation (CES) has entered into a sales contract to sell a vacant development site in Victoria Street in Melbourne, Victoria, the company said on Friday. The sale price of the site is A$64.8 million (S$68.9 million), plus goods and services tax. The settlement date is March 26, 2016. http://www.straitstimes.com/business/companies-markets/chip-eng-seng-sells-melbourne-site-for-twice-of-what-it-paid
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jeremyow Master	04-Mar-2016 15:31        jeremyow About Contact  Quote this Post! Style: Flexible   Mood: Yells: "Passionate business investor"
x 0   x 0  Alert Admin	Chip Eng Seng Corporation has its IPO during year 1999 at a share price of $0.18. Over the past 17 years until year 2016, its share price has grown to $0.69 as of current. The company has grown and transformed from a construction business higher up the value chain to now a developer. Though its revenue and operating profits have been bumpy through the years (expected of property developers as property developement is a cyclical business), it showed a general steady increase through the years. An estimate on the compounded annual growth rate (CAGR) on its performance of its share price   and inclusive of all dividends collected by shareholders through the period of 17 years since its IPO until now yields around 10.5% per annum. If we compare Chip Eng Seng Corp' s performance in its share price and total dividends collected with other companies in other industries such as Raffles Medical Corp in the healthcare industry which yields around 15% CAGR per annum, Chip Eng Seng still pales in comparison over a similar period of duration though a CAGR of 10.5% per annum is already decent enough. This could suggest why construction and property development counters rarely trade at high PE ratio given their cyclical nature of business and their CAGR is reasonable but not exceptionally high. Of course, there maybe those few exceptions of excellent companies within the industry which consistently enjoy a better competitive edge against their peers. Then again, it is not a fair comparison to compare companies in different industries as we are comparing apples to oranges. One should compare Chip Eng Seng Corp' s performance to its peers in the same construction and property development industry.  However, this exercise of comparing different companies across different industries does give us a general indication that not all industry are equally profitable. Does that mean an investor should avoid certain industries that generally yield lower returns and only invest in high yielding industries? Unless the total shareholder returns are really very low such as below 5% CAGR over the long term, then one may consider carefully whether it is worthwhile to totally invest all his funds into a low yielding vehicle. Also, it maybe too risky to just invest in one single industry though that industry maybe highly profitable as there is also company risk that a consistent performer may also fall. Past performance may not indicate future performance in a company as well as an industry. There is no such thing as a 100% risk free investment. It therefore pays to diversify suitably one' s investment across different companies and industries to minimise risk and maximise potential returns.             ecekca      ( Date: 04-Mar-2016 13:21) Posted: Just buy , no need to think cos everything going up bishan22      ( Date: 04-Mar-2016 13:07) Posted: Inching up to 7.
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ecekca Elite	04-Mar-2016 13:21        ecekca About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	Just buy , no need to think cos everything going up bishan22      ( Date: 04-Mar-2016 13:07) Posted: Inching up to 7.
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bishan22 Supreme	04-Mar-2016 13:07        bishan22 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Inching up to 7.
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nphp1117 Member	09-Feb-2016 21:40        nphp1117 About Contact  Quote this Post!
x 0   x 0  Alert Admin	When is ex Dividend? Does anyone know? Thanks bishan22      ( Date: 04-Feb-2016 19:25) Posted: CHIP Eng Seng Corp' s fourth-quarter net profit dropped 94.2 per cent to S$9.8 million on less revenue from property developments, the building and development company announced on Thursday after the market closed. On a per-share basis, profit was 1.57 Singapore cents for the three months ended December 2015. Chip Eng Seng is declaring a 4.0 Singapore cent per share dividend for the year. The stock closed at 65 Singapore cents on Thursday before the results were announced.
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tangsookiam1947 Master	09-Feb-2016 10:25        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	http://www.skyscrapercity.com/showthread.php?t=1500584& page=46 ë xtract from the above website " Referring to the Sunset Date of this landmark project, on July 2014 I believe CEL had contacted all purchasers to amend the Sunset Date to 96 months from the date of Sale, which means the Sales Contracts have been extended by 24 months. Example sign Sales Contract on 22 Feb 2013, original Sunset Date would be 22 Feb 2019. By signing the amendment, the purchaser agree to extend the contract to 22 Feb 2021. I believe that many of us here are very anxious to know the progress of this project for so many reasons. Some are investors that had put all their hard earned money for investment purposes or hoping to get this units for their children when they are studying in Melbourne or any other various reasons. It' s been devastating to live outside Melbourne and not being able to get any updates on this particular project. Therefore, please keep this forum alive as this is the only source I can have updates on this project. Let' s keep our fingers crossed and pray that in 2016 we will see the demolition continued and this tower will be build. "
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Qanghoo Supreme	04-Feb-2016 23:51        Qanghoo About Contact  Quote this Post!
x 0   x 1  Alert Admin	Brother, ur view I also agree lah.  Just hope others understand too cos I see so many people saying why this one div so small, that one so little, bla, bla, bla.  But if give all away as div, future projects how to fund - by debt?  But that means incur interest cost n profit will eventually drop n finally div kena cut.  But I just  thot CES profit last yr was really super bumper n they cld give a bit more.  Thx for ur  sharing anyway.  edwinjup      ( Date: 04-Feb-2016 20:00) Posted: 4c very good liao.....better keep.some.cash for.raining days....give shareholders.easy but hard.to take back.when there.is.a.need....lol Qanghoo      ( Date: 04-Feb-2016 19:43) Posted: Disappointing no SD.  Thought from last yr' s bumper profit, wld have been generous of them to continue with the SD for another yr at least.
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