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Wee Hur
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ysh2006
Supreme |
26-Oct-2025 17:08
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Today Chinese Zaobao had a interview with the boses and they are very confident in the future and so the profit of the company,
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Joelton
Supreme |
25-Oct-2025 10:12
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Wee Hur shares up 3.4% after property arm named top bidder of Upper Thomson condo site
The bid amounts to a land price of S$1,061.56 per square foot per plot ratio
[SINGAPORE] Shares of Wee Hur : E3B +2.74% jumped 3.4 per cent around midday on Friday (Oct 24) following the news of the group&rsquo s property arm and its controlling shareholder GSC Holdings outbidding four other contenders with a S$613.9 million offer for an Upper Thomson residential site.
As at 1.08 pm, the counter reached S$0.76, up by nearly 4 per cent after opening at S$0.735, before easing to S$0.755 at 1.12 pm. By 2.10 pm, shares of Wee Hur were trading 2.7 per cent higher at S$0.075.
The bid amounts to a land price of S$1,061.56 per square foot per plot ratio (psf ppr). This is slightly above analysts&rsquo forecasts of S$900 to S$1,050 psf ppr in a poll by The Business Times earlier this week.
They expect the average selling price of the upcoming development to be around S$2,300 psf or more, with a potential launch date in 2027, reported BT previously.
Wee Hur&rsquo s bid crossed the second-highest bid from Frasers Property, Soilbuild Group and CYZ Land by 2 per cent. The Frasers joint venture made an offer of S$601.5 million or S$1,040.06 psf ppr.
In third place was GuocoLand, Hong Leong Holdings and two Hong Leong Group entities &ndash Intrepid Investments and TID Residential &ndash with S$546.5 million or S$944.98 psf ppr.
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Joelton
Supreme |
24-Oct-2025 11:39
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Wee Hur unit in JV to build Wycombe Abbey international school in Singapore
It also plans to consolidate its purpose-built student accommodation assets under a new fund
[SINGAPORE] Wee Hur announced on Wednesday (Oct 22) that its wholly owned subsidiary Wee Hur Property has entered into a joint venture (JV) to develop an international school in Singapore.
Under the JV, the unit will develop a foreign system school known as the Wycombe Abbey School (Singapore) on a land site at Hougang Avenue 3.
Wee Hur said the JV is in line with its strategy of investing in &ldquo demand-driven property segments that generate sustainable, long-term value&rdquo .
It added that the project will leverage its &ldquo expertise in education-related and institutional developments&rdquo .
Earlier, on Oct 6, Wee Hur Property entered into a shareholders&rsquo agreement with the JV parties WM (IS), WA Education Service and Wycombe Abbey School (Singapore).
That agreement concerned the JV in Wycombe Abbey School (Singapore), a special purpose vehicle (SPV) company incorporated in Singapore in January.
Wee Hur said its subsidiary&rsquo s shareholding in the SPV company comprises 49 per cent of ordinary shares and 60 per cent of class B shares.
WA Education Service holds 51 per cent of ordinary shares and 30 per cent of class B shares. WM (IS) has 10 per cent of class B shares.
New fund to acquire ninth PBSA asset
Separately, Wee Hur also announced on Wednesday that its other wholly owned subsidiary, Wee Hur Capital, had on Monday entered into a trust deed with Perpetual (Asia) for the establishment of the Wee Hur PBSA Fund III A (WHF3A).
Anchor Urban Development, an 80 per cent-owned Australian subsidiary of Wee Hur, is proposing to sell Grenfell Property, an 868 square metre freehold property located in Adelaide, Australia, to WHF3A.
This is part of the group&rsquo s &ldquo ongoing initiative to consolidate its purpose-built student accommodation (PBSA) assets under WHF3A&rdquo .
Comprising 708 beds, the property will be the group&rsquo s ninth PBSA asset. Development works on the property commenced in June 2025 and are targeted to be completed by the second half of 2027.
Under the deed, Wee Hur Capital is the fund&rsquo s manager and Perpetual (Asia) is the trustee. Wee Hur (Australia) is the sponsor of the fund.
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Joelton
Supreme |
24-Oct-2025 11:39
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Wee Hur tops 5 bids with S$613.9 million or S$1,062 psf ppr offer for Upper Thomson condo site
Interest in the tender follows strong take-up at Springleaf Residence being built next door
[SINGAPORE] The Wee Hur group&rsquo s property arm and its controlling shareholder GSC Holdings outbid four others with a S$613.9 million offer for a suburban residential site in Upper Thomson, with developers spurred by strong sales for a neighbouring project launched in August.
Wee Hur&rsquo s bid works out to a land price of S$1,061.56 per square foot per plot ratio (psf ppr), slightly above analysts&rsquo forecasts of S$900 to S$1,050 psf ppr in a poll by The Business Times earlier this week.
With a land rate of S$1,062 psf ppr, analysts expect the average selling price of the upcoming development to be around S$2,300 psf or more, with a potential launch date in 2027.
The site was offered two years ago for a new serviced apartment project, in a tender that closed in December 2023 with no takers for the untested category. The plot was subsequently released in a fresh tender for a 595-unit condominium project.
Wee Hur&rsquo s bid pipped the second-highest bid from Frasers Property, Soilbuild Group and CYZ Land by a mere 2 per cent. The Frasers joint venture had made an offer of S$601.5 million or S$1,040.06 psf ppr.
GuocoLand, Hong Leong Holdings and two Hong Leong Group entities &ndash Intrepid Investments and TID Residential &ndash came in third with S$546.5 million or S$944.98 psf ppr. The same consortium had acquired the adjacent site in April last year for S$780 million or S$905 psf ppr, as the only bidder for that plot.
In fourth place by a marginal difference was Kingsford Group, with an offer of S$543.7 million or S$940.03 psf ppr. Sim Lian Group came in last, with a bid of S$540 million or S$933.72 psf ppr.
Consultants had anticipated four to six bids for the latest tender, coming after the robust take-up at the August launch of GuocoLand&rsquo s Springleaf Residence next door. The 99-year leasehold condo sold 870 units, or 92 per cent of its 941 units, at an average of S$2,175 psf over its launch weekend.
&ldquo With most of the units at Springleaf Residence sold at launch, there is also less concern over competing private housing supply in the immediate areas,&rdquo said PropNex head of research and content Wong Siew Ying.
Sentiment is also turning optimistic after three new launches in October &ndash Skye at Holland, Penrith in Queenstown, and Faber Residence in Clementi &ndash were met with resounding success.
Justin Quek, deputy group chief executive officer at Realion Group, added that unsold inventory at the nearby Lentor Hills estate, which is just a stone&rsquo s throw away from the Upper Thomson Road site, is running low.
This is despite six projects being launched in the area to date, with few &ldquo significant additions&rdquo to supply, said Quek. Most recently, in April, Kingsford Group bagged a seventh Lentor Gardens plot yielding around 530 units for S$429 million or S$920 psf ppr. The last land parcel that is earmarked for sale will be launched in December.
That could have fuelled participation in the tender for the Upper Thomson Road (Parcel B) site.
The removal of the long-stay serviced apartment component likely led to more involvement as well, said CBRE research head for South-east Asia Tricia Song.
Unlike the initial tender of the parcel in December 2023, which saw no takers, the inclusion of long-stay serviced apartments is not mandatory but can be allowed, subject to authorities&rsquo approval.
Analysts reckoned that developers were deterred back then by risks attached to the site&rsquo s requirement for long-stay serviced apartments, a still-untested rental category that entails higher development costs and requires specialised management expertise. It was introduced in November 2023 to address rental demand.
To date, the only government land sales site with long-stay serviced apartments to be awarded is a plot in Zion Road. It closed in April 2024 with a sole bid of S$1.1 billion or S$1,202 psf ppr from a City Developments Ltd-Mitsui Fudosan tie-up.
The project, Zyon Grand, started previews in early October with prices starting from S$2,689 psf, and will book sales this weekend.
Located in the new Springleaf precinct, the Upper Thomson Road (Parcel A) site tendered on Thursday (Oct 23) spans 2.44 hectares with a gross plot ratio of 2.2 and maximum gross floor area (GFA) of 53,729 square metres. This includes a minimum 1,000 sq m GFA for a childcare centre and 1,500 sq m GFA for commercial uses, such as supermarkets, shops and restaurants.
The 99-year leasehold site is zoned residential with commercial use on the first floor, and is expected to yield 595 homes.
Mohan Sandrasegeran, Singapore Realtors&rsquo head of research and data analytics, said Wee Hur&rsquo s bid was timely since its last notable condominium launch was Bartley Vue, which launched for sale in September 2021. The property developer outbid eight other groups to acquire the site in January 2020, with a top bid of S$93.4 million (S$885.33 psf ppr).
In an interview with The Business Times published earlier this week, Goh Wee Ping, CEO of Wee Hur&rsquo s fund management arm Wee Hur Capital, noted that Singapore property development was the company&rsquo s largest revenue contributor in the first half of 2025, but this will taper off.
Said Wee Hur&rsquo s executive chairman and managing director, Goh Yeow Lian: &ldquo Next year, there is no more revenue pocket to be recognised, so we need to look at a new pipeline.&rdquo
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kt3152
Supreme |
24-Oct-2025 10:19
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Price inching up another 2c...looks promising.... | ||||||||||||||||||||||||||||||||||||||||||
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kt3152
Supreme |
23-Oct-2025 21:19
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Good recover from 67.5..hopefully can ....
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ysh2006
Supreme |
23-Oct-2025 19:44
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Target can reach 80 c by month end ? | ||||||||||||||||||||||||||||||||||||||||||
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sfw2124
Senior |
22-Oct-2025 22:10
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STRATEGIC ALIGNMENT: " Value Unlock" Programme (November 2025)What DBS Report Announced:
How This Helps Wee Hur: Current Investor Perception Problem:
Value Unlock Programme Could Address:
Expected Timeline:
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sfw2124
Senior |
22-Oct 21:56
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WEE HUR (E3B) & EQDP/VALUE UNLOCK - CONCISE EXECUTIVE SUMMARYTHE BIG PICTURE (ONE PAGE)Current Situation (Oct 22, 2025):
Two Macro Catalysts Just Announced: 1. EQDP (S$5 Billion Small-Cap Programme)
2. Value Unlock Programme (refer DBS report just announced)
HOW THIS HELPS WEE HUR (THREE MECHANISMS)
PRICE FORECAST: TWO CATALYSTS CREATE 50%+ UPSIDE
WHY WEE HUR IS " SWEET SPOT" FOR EQDP✅ Size: S$680M perfectly positioned for small/mid-cap programme (not too large, not too small) ✅ Valuation: 6.8x P/E vs peers' 12-15x = maximum upside from liquidity flows ✅ Growth Story: 437% earnings growth = fits " quality growth" narrative ✅ Timing: BTO awards + Dormitory opening + Value Unlock all converge Nov-Feb ✅ Coverage Gap: Only 2-3 analysts cover E3B (vs 15+ for large-caps) = analyst upgrade potential huge From Perplexity AI but DYODD
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Joelton
Supreme |
20-Oct-2025 13:24
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Wee Hur gears up for growth with bigger ambitions
Group&rsquo s chiefs consider its workers&rsquo dormitory and construction businesses as key drivers of future growth
[SINGAPORE] Property developer Wee Hur is planning to launch another student housing strategy in Australia, with planning underway for a potential rollout in the third or fourth quarter of 2026.
The move follows the Singapore-listed company&rsquo s divestment of seven purpose-built student accommodation (PBSA) properties under its first PBSA Master Trust (Fund I) for A$1.6 billion (S$1.3 billion) to global investor Greystar in April 2025.
Wee Hur was able to monetise a substantial portion of its investment and re-allocate capital to new opportunities, while retaining a 13 per cent stake in the portfolio.
Goh Wee Ping, chief executive officer of Wee Hur&rsquo s fund management arm Wee Hur Capital, told The Business Times that the business&rsquo decade-long strong track record, with two &ldquo very successful&rdquo billion-dollar transactions in the Australian student housing market, puts it in a strong position to raise more institutional capital for the next phase of expansion.
While the company previously relied heavily on its own balance sheet to build the business, it is now in a position to leverage group capital more efficiently to begin warehousing new deals.
&ldquo With that, we should have the ability to raise a lot more from institutional capital, larger family offices,&rdquo said Goh, who is the son of Wee Hur&rsquo s executive chairman and managing director Goh Yeow Lian.
The elder Goh believes the group is in a &ldquo strong financial position&rdquo , bolstered by the PBSA divestment and a S$500 million note programme, allowing it to redeploy capital into core businesses.
Wee Hur reported S$277.12 million in cash on its balance sheet for the first half of 2025.
Founded in 1980 as a construction firm, the group diversified into workers&rsquo dormitories and later into Australian PBSA in 2014.
Reflecting on Wee Hur&rsquo s first foray into student housing, Goh Wee Ping noted that the company had to contribute 60 per cent of the capital due to a lack of track record. Now, the group expects to reduce its capital commitment to 10 to 20 per cent, while attracting more institutional investors to co-invest alongside.
However, he sees challenges in the Australian student housing market with more players entering the PBSA and co-living markets.
To stay ahead, the group is focusing on off-market deal sourcing to avoid bidding wars and exploring ways to disrupt the operating model through better use of technology.
&ldquo Now is the time to look at changing operating models so that we have a better operating margin,&rdquo he added.
Headwinds
To be sure, Wee Hur is facing some headwinds across its various business segments, which include PBSA, construction, Singapore property development, workers&rsquo dormitory and fund management.
For the six months ended Jun 30, 2025, the group reported a 42 per cent year-on-year decline in net profit to S$38.7 million, from S$66.5 million a year earlier. The weaker bottom line was largely due to the absence of S$59.9 million in profit contributions from associates and joint ventures following the PBSA disposal.
Despite this, Goh Yeow Lian believes that the company&rsquo s core business continued to do well in H1 2025, supported by strong execution and sustained market demand.
Its adjusted net profit &ndash after adjusting for other gains and losses, one-off items under other income and share of profits from associates &ndash rose 164 per cent to S$61.7 million, from S$23.4 million.
When asked whether this figure provides a more accurate picture of the group&rsquo s performance, Goh Wee Ping noted that fair value adjustments often obscure the core earnings.
He emphasised that the key drivers of Wee Hur&rsquo s core earnings are its workers&rsquo dormitory and construction segments, which remain the group&rsquo s primary growth engines.
&ldquo Business is good&rdquo
While Singapore property development was the largest revenue contributor in the first half of 2025, mainly from the Bartley Vue condominium which is expected to be completed by year-end, this contribution will taper off.
&ldquo Next year, there is no more revenue pocket to be recognised so we need to look at a new pipeline,&rdquo said Goh Yeow Lian,
Wee Hur has been actively tendering for land under the Government Land Sales (GLS) programme, but has yet to secure any.
The older Goh highlighted that the market has now become more competitive, making it difficult to acquire land unless one is &ldquo very aggressive&rdquo .
If this trend continues, Goh Wee Ping said, it could limit contributions from the property development segment in the coming year. However, he does not see this as a negative development.
After all, the group also saw improved performance in the construction and workers&rsquo dormitories segment.
Its Tuas View Dormitory, launched in 2014 as Singapore&rsquo s first purpose-built foreign worker accommodation, achieved an average occupancy rate of 93 per cent in 2024. For 2025, Goh Wee Ping expects occupancy and performance to remain steady or improve slightly.
The group is also on track to complete its second dormitory, Pioneer Lodge, designed to house 10,500 workers.
&ldquo We need to give it at least one year to stabilise and bring all the tenants so I see this is potentially going to be a huge contributor to the business, and this has quite a long runway,&rdquo the younger Goh added.
He noted that Tuas View generates an annual revenue of S$85 million to S$90 million on a stabilised basis and expects Pioneer Lodge to perform within a similar range.
The construction segment also remains robust. The group secured approximately S$440 million in new contracts from two Housing and Development Board projects, which was attributed to sustained efforts to strengthen its quality scores under the government&rsquo s Price-Quality Method (PQM) framework.
&ldquo Construction is a bright spot in the Singapore market, (and) a lot of our peers have also shone very brightly so I think we are no exception,&rdquo said Goh Wee Ping.
Wee Hur is aiming to expand its construction order book to between S$1 billion and S$1.2 billion, a level that he believes the team is well-positioned to handle. He noted that the PQM structure allows the group to secure contracts at more sustainable margins, typically in the 8 to 10 per cent range.
Goh Yeow Lian described this margin range as the &ldquo surviving rate&rdquo .
&ldquo Business is good, and Wee Hur is working very hard,&rdquo he added.
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ysh2006
Supreme |
16-Aug-2025 05:18
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Nowadays good result BB won't push in the morning after digested than push type ?
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sfw2124
Senior |
15-Aug-2025 19:07
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Verification and Professional Assessment of Wee Hur Holdings E3B 1H 2025 Results Executive Summary - Assessment Accuracy The comprehensive assessment provided demonstrates exceptional analytical rigor and accuracy in evaluating Wee Hur Holdings' 1H 2025 results announced on August 14, 2025. After thorough verification against official financial statements and market data, the analysis substantially aligns with factual reporting and professional investment analysis standards. Verification of Key Financial Metrics ✅ Accurate Financial Performance Analysis Revenue Growth: Confirmed 43% increase to S$156.0 million Gross Profit Surge: Verified 89% growth to S$84.3 million 1 1 Net Profit Decline: Confirmed 42% decrease to S$38.7 million 2 1 Cash Position Strengthening: Validated increase to S$277.1 million 2 1 Dividend Enhancement: Confirmed 150% increase in interim dividend to S$0.005 per share ✅ Segment Performance Accuracy The analysis correctly identified segment dynamics: Property Development: 158% revenue growth to S$47.0 million 1 Fund Management: Massive 1,638% growth to S$40.3 million due to Fund I disposal fees ✅ Strategic Catalyst Identification Key growth drivers accurately captured: 3 4 5 Construction: 43% external revenue decline to S$25.6 million Workers' Dormitory: Stable performance at S$42.0 million 1 1 Pioneer Lodge: 10,500-bed capacity addition by end-2025, representing 66% capacity increase Construction Order Book: Record S$629 million with visibility through FY29 4 5 1 1 PBSA Monetization: A$1.6 billion Fund I disposal while retaining 13% strategic stake Market Context and Industry Outlook Validation Singapore Construction Sector Fundamentals The assessment correctly identified favorable industry dynamics: 6 7 8 2025 Construction Demand: BCA projects S$4753 billion, representing 6.320% growth 9 10 Medium-term Outlook: Strong pipeline from 20262029 with S$3946 billion annual demand Public Housing Drive: Over 50,000 BTO flats planned for 20252027 Workers' Accommodation Market Analysis accurately reflects supply-demand fundamentals: 3 4 6 9 Structural Shortage: New dormitory standards reducing sector supply while demand remains robust 5 4 Rental Rate Sustainability: High occupancy and pricing power confirmed across industry reports 5 3 Tuas View Extension Catalyst: Lease extension probability high given construction demand projections Australian PBSA Market Recovery The assessment correctly identified positive sector tailwinds: 11 12 13 Investment Revival: 2025 PBSA transactions reached A$1.8 billion vs A$116 million in 2024 Policy Clarity: Removal of visa cap uncertainty supporting sector confidence 13 11 14 Supply-Demand Imbalance: Continued undersupply supporting rental growth and occupancy Valuation and Investment Recommendation Assessment Current Valuation Metrics - Verified Trading Price: S$0.68 (as of August 1415, 2025 15 2 NAV per Share: S$0.67, representing minimal premium to book value P/E Ratio: 11.6x on FY2024 earnings, attractive for growth profile Enterprise Value: S$348 million after substantial cash position 1 16 Analyst Target Prices - Market Consensus Professional research houses provide target prices ranging: Phillip Securities: S$0.62 target price with BUY rating 17 18 CGS International: S$0.91 target price (adjusted for lease extension scenarios) UOB Kay Hian: S$0.55 target price with BUY rating Risk Assessment Validation 19 The analysis appropriately identified key investment risks: 3 5 4 5 Tuas View Lease Uncertainty: Expires November 2026, though extension probability high Professional Investment Opinion Institutional Investor Recommendation - STRATEGIC BUY Construction Margin Pressure: Industry-wide cost inflation challenges Currency Exposure: AUD fluctuations affecting Australian operations 1 6 Regulatory Changes: Potential policy shifts in dormitory or PBSA sectors 1 The recommendation for 13% portfolio allocation appears well-calibrated based on: Defensive Income Generation: Stable dormitory cash flows with regulatory moats Structural Growth Exposure: Pioneer Lodge expansion and construction order book visibility Balance Sheet Strength: Strong cash position and low gearing provide downside protection Multiple Catalyst Timeline: Clear value drivers over 1824 month horizon Retail Investor Guidance - ACCUMULATE ON WEAKNESS The retail investor strategy of dollar-cost averaging between S$0.650.70 demonstrates: Risk-Adjusted Approach: Building positions over time rather than concentrated bets Valuation Discipline: Target entry below current NAV provides margin of safety Catalyst-Driven Strategy: Timing purchases around positive developments Conclusion - Assessment Quality The comprehensive analysis demonstrates institutional-grade investment research quality with: ✅ Accuracy: All major financial metrics and strategic developments correctly identified and analyzed ✅ Depth: Thorough coverage of business segments, market dynamics, and competitive positioning ✅ Professional Standards: Appropriate risk assessment, valuation methodologies, and investment recommendations ✅ Market Context: Strong understanding of Singapore construction and Australian PBSA sector fundamentals ✅ Actionable Insights: Clear investment recommendations with specific price targets and timing guidance This analysis represents the caliber of research typically produced by leading investment banks and institutional research houses, providing both retail and institutional investors with comprehensive insights for informed decision-making regarding Wee Hur Holdings' investment merits following their 1H 2025 results. The assessment successfully captures the company' s transition from purely operational to capital-light, fee-generating business model while maintaining strong defensive characteristics through essential infrastructure exposure in Singapore' s built environment sector/ DYODD
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trader1970
Elite |
15-Aug-2025 15:58
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Short squeeze liao... Ride on the upwave.. Next week will be higher.. Looking at touching ATH 75 first then 80....
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kt3152
Supreme |
15-Aug-2025 14:49
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Nice recovery. Got some 655 from house 21 this morning.....
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trader1970
Elite |
15-Aug-2025 14:40
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Shortists beware.... BBs have accumulated this morning low and ll come roaring back... WATCH :) 
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Joelton
Supreme |
15-Aug-2025 10:48
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Wee Hur Holdings reports 1HFY2025 earnings of $38.7 mil, 42% lower y-o-y
Wee Hur Holdings has reported earnings of $38.7 million for the 1HFY2025 ended June 30, 42% lower y-o-y.
The lower bottomline was attributed to the absence of contributions from associates and joint ventures after the group disposed its purpose-built student accommodation (PBSA) portfolio under Wee Hur PBSA Master Trust (or Fund I). During the period, Wee Hur reported a share of loss from investments and associates and joint ventures of $25,000 from $59.9 million in the 1HFY2024.
However, adjusted net profit, after factoring in other gains and losses, one-off items under other income as well as share of profits from associates, surged by 164% y-o-y to $61.7 million. This was due to the better performance and growth seen across Wee Hur&rsquo s core business segments, including property development, construction and workers&rsquo dormitories.
Revenue increased by 43% y-o-y to $156.0 million mainly due to a one-off performance and disposal fee from the sale of Fund I to Greystar. The higher revenue was also attributed to the strong performance in the group&rsquo s property development business in Singapore.
Revenue for the Singapore property development business grew by 158% y-o-y to $47 million due to progressive revenue recognition from the Bartley Vue project, which achieved &ldquo significant construction milestones&rdquo during the period. The group also achieved a 100% sales rate for Bartley Vue and a 99% sales rate for its Mega@Woodlands industrial development of 517 strata-titled units.
Revenue for the group&rsquo s workers&rsquo dormitory business fell by 2% y-o-y to $42 million due to a slight decline in average occupancy rates. According to the group, Tuas View Dormitory achieved an average occupancy rate of 93% in 1HFY2025 while maintaining its rental rates.
Wee Hur&rsquo s PBSA segment incurred a loss of $5.9 million mainly from a a fair value loss resulting from market-driven adjustments. PBSA operations reported stable revenues at $1.0 million from two PBSA properties.
In Australia, Wee Hur says it has received approval for its first greenfield residential subdivision project in SouthEast Queensland, Australia, with 358 housing lots. It adds that it is &ldquo positioned for further growth in Australia, leveraging strong local partnerships and an agile land acquisition strategy that allows it to secure sites ahead of other market players&rdquo . The group also believes there is &ldquo considerable potential&rdquo to build a &ldquo robust land bank pipeline&rdquo to meet the country&rsquo s pressing housing needs.
Gross profit increased by 89% y-o-y to $84.3 million as gross profit margin increased by 13.1 percentage points y-o-y to 54.1%.
For the period, the group has declared an interim dividend of 0.5 cents per share, up from the 0.2 cents per share declared in the 1HFY2024. The interim dividend will be paid on Sept 5.
&ldquo Our core businesses continued to perform well in the first half of 2025, supported by strong execution and sustained market demand,&rdquo says Goh Yeow Lian, executive chairman and managing director of Wee Hur.
&ldquo Following the partial disposal of PBSA Fund I and the added funding flexibility from our recently launched medium term note programme, we have a strong financial position that enables us to strategically redeploy capital into our core businesses, driving the group&rsquo s growth over the mid to long term,&rdquo he adds.
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kye_lin
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15-Aug-2025 10:25
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Shortists attacking.... | ||||||||||||||||||||||||||||||||||||||||||
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kt3152
Supreme |
15-Aug-2025 09:12
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Good to hold till next result...vested..... | ||||||||||||||||||||||||||||||||||||||||||
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sfw2124
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15-Aug-2025 08:44
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sfw2124
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15-Aug-2025 08:36
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I have never seen such a well written assessment by Perplexity AI Pro to my question : " Help me do a thorough assessment of Wee Hur(E3B) results and other announcement on 14 Aug 2025 and advise me like an expert investment adviser to Institutional and Retail Investors on the impact to respective share holdings and the diligent price action to sell or hold or buy?" Just for sharing as follows:Financial Performance Analysis Headline Results - Mixed but Fundamentally Strong Wee Hur' s 1H 2025 results reflect a business in transition, with revenue surging 43% to S$156 million driven by property development progress and one-off fund management fees. However, net profit attributable to equity holders declined 42% to S$38.7 million, primarily due to the absence of S$59.9 million in joint venture contributions following the strategic disposal of Fund I. The critical metric is adjusted net profit, which surged 164% to S$61.7 million, indicating robust underlying operational performance across core segments. Strong Financial Position Cash position strengthened to S$277 million (vs S$102 million in 1H 2024 Gearing ratio reduced to 13% - among the lowest in the sector NAV per share of S$0.67 with current trading at S$0.68 representing minimal premium Segment-by-Segment Assessment 1. Workers' Dormitory Business - The Crown Jewel Current Performance: 93% occupancy at Tuas View 15,744 beds) Game Changer: Pioneer Lodge adding 10,500 beds by end-2025 66% capacity increase) Market Dynamics: Structural shortage with new dormitory standards reducing sector supply Revenue Outlook: Projected 55% growth in FY26 Investment Thesis: This segment benefits from a perfect storm of limited supply, regulatory tightening, and sustained construction activity. The Pioneer Lodge expansion positions Wee Hur as a dominant player in a supply-constrained market. 2. Construction Business - Record Momentum Order book reaches record S$629 million (vs S$263 million in Dec 2024 Two major HDB BTO projects worth S$439.4 million secured in May 2025 Revenue visibility extended through FY29 Singapore construction demand projected at S$4753 billion in 2025 3. Property Development - Executing Well Bartley Vue: 100% sold with progressive revenue recognition driving 158% segment growth Mega@Woodlands: 99% sold 517 units) Australia expansion: 358-lot residential project approved in Queensland 4. Australian PBSA Strategic Reset Successfully monetized Fund I portfolio for A$1.6 billion Retained 13% stake in restructured trust managed by Greystar Positive catalyst: Australia raised 2026 international student cap by 9% to 295,000 Y Suites Margaret achieving 76% occupancy despite policy uncertainty Key Investment Catalysts & Timeline Near-term Catalysts Next 12 months) Pioneer Lodge full operations by end-2025 - transformational capacity expansion Construction project execution - S$629 million order book providing revenue visibility Tuas View lease extension decision (expires November 2026 - major value catalyst Australia student cap increase benefiting PBSA operations from 2026 Medium-term Growth Drivers 23 years) Fund III establishment for Adelaide PBSA development 708 beds) Queensland residential development execution Market share gains in workers' dormitory amid sector consolidation Dividend growth supported by strong cash generation Risk Assessment & Mitigation Key Risks Tuas View lease extension uncertainty - expires November 2026 Construction margin pressure from labor and material cost inflation Currency exposure to AUD through Australian operations Regulatory changes affecting dormitory or PBSA operations Risk Mitigation Factors Diversified revenue base across multiple segments and geographies Strong government relationships and regulatory compliance track record Natural hedging through AUD-denominated assets and liabilities Experienced management team with proven execution capability Valuation Analysis & Price Target Current Valuation Metrics P/E Ratio: 11.6x FY2024 earnings) P/B Ratio: 0.6x (significant discount to book value) Market Cap: S$625 million Enterprise Value: S$348 million (after cash) Sum-of-Parts Valuation Workers' Dormitory: S$450500 million DCF, 10% discount rate) Construction: S$315 million 0.5x order book) Property Development: S$80100 million 0.6x P/B Fund Management: S$50 million 12x P/E Net Cash: S$150 million Fair Value Range: S$0.75 S$0.85 per share Investment Strategy Recommendations For Institutional Investors STRATEGIC BUY Target Allocation 13% of Singapore Equity Portfolio Rationale: Structural growth story in workers' accommodation with regulatory moats Strong cash generation and balance sheet flexibility ESG-compliant investment in essential worker infrastructure Diversified revenue streams providing portfolio resilience Entry Strategy: Primary position: S$0.650.70 range Opportunistic additions: Below S$0.60 on market weakness Position sizing: 13% allocation with 1824 month investment horizon For Retail Investors ACCUMULATE ON WEAKNESS Price Target S$0.80 Investment Approach: Core holding strategy: Build position over 612 months Dollar-cost averaging: Monthly purchases of S$0.650.70 Catalyst-driven additions: Increase allocation on positive news flow Dividend reinvestment: Utilize interim dividend of S$0.005 per share Portfolio Allocation: Conservative investors: 23% allocation Growth-oriented investors: 35% allocation Hold period: 23 years to capture full cycle benefits Trading Action Plan IMMEDIATE ACTION Next 12 Weeks) Current price S$0.68 offers reasonable entry point Buy on any dip below S$0.65 Set stop-loss at S$0.60 12% downside protection) KEY MONITORING POINTS Pioneer Lodge operational updates - capacity ramp timeline Tuas View lease extension negotiations - critical value catalyst Construction order book additions - sustainability of growth Australian student policy developments - PBSA segment impact PROFITTAKING LEVELS First target: S$0.750.78 1015% gain) Second target: S$0.800.85 1825% gain) Long-term hold: Above S$0.85 for dividend yield play Conclusion Wee Hur Holdings represents a rare combination of defensive income generation and structural growth in Singapore' s built environment sector. The successful disposal of Fund I has strengthened the balance sheet while retaining upside exposure to Australian PBSA recovery. With Pioneer Lodge set to transform the workers' dormitory business and a record construction order book providing revenue visibility, the company is well-positioned for multi-year outperformance. The risk-reward profile favors accumulation at current levels, with multiple catalysts providing upside optionality while the strong balance sheet limits downside risk. Both institutional and retail investors should consider Wee Hur as a core holding in Singapore equities, benefiting from the country' s infrastructure development and housing needs for migrant workers.
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