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ChipEngS - Low PE, High Yield and High NAV in One Post Reply Rate topic
tangsookiam1947 Master	26-Jun-2016 23:47        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	The recurring income from hotel and property investment is around 1.5 cents (EPS) per annum going forward while the construction arm earns about 2 cents EPS each year. So essentially, we have ~ 3.5 cents of recurring income each year. The recurring income is set to grow further as the company is on the active look out for investment properties to acquire when time is ripe. With the High Park Residence more than 97% sold, company should  have no problem sustaining its annual regular dividend of 4 cents until 2020, and possibly beyond.
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tangsookiam1947 Master	21-Jun-2016 20:51        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Visibility of sustaining current dividends to 2020. Including only the progressive recognition of revenue and development profits from High Park Residences until its TOP (~$32m/year), translating to an EPS of $0.04 which matches the DPS of $0.04 (excluding special dividends) for the past 6 years. http://internetfileserver.phillip.com.sg/POEMS/Stocks/Research/ResearchCoverage/SG/CES20160314.pdf
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tangsookiam1947 Master	21-Jun-2016 20:44        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Based on current share price  of only 62.5 cents, the sustainable yield is at 6.4% (assuming 4 cents dividends, which has been paid by CES for many many years....)
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tangsookiam1947 Master	17-Jun-2016 10:14        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	High park residence - as of end of May 2016 (97.1% sold average PSF = S$ 1,031 psf) Can someone compute and confirm  the potential amount of EPS from this project alone? ___ Fulcrum - as of end of May 2016 (31.3% sold average PSF = S$ 1,969 psf) Can someone compute and confirm  the potential amount of EPS from this project alone?
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tangsookiam1947 Master	14-Jun-2016 16:08        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	why not total asset minus total liabilites? is there a typo? So, did anyone notice that the hotel was accounted for a book value, implying a potential revaluation gain of ~25 cents (if reflected at market value).
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tangsookiam1947 Master	12-Jun-2016 10:37        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	now that Raymond has a potentially bigger stake in CES ( due to the issue of stock options to him), his interests are aligned with shareholders...
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tangsookiam1947 Master	09-Jun-2016 22:31        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	to recap, 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. CES had paid A$32 million for the site about a year ago. 102.5% Gain !!! Exciting upcoming Q2 result is awaiting...
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lifeisgood Supreme	07-Jun-2016 15:30        lifeisgood About Contact  Quote this Post!
x 0   x 0  Alert Admin	Becareful, Chip Eng Seng may be buying over Raymond Chia and Alan Wang' s property portfolio in Australia. If the portfolio was doing well, Raymond dont need to come back to CES to eat 回 头 草 。 Anybody guess it will be purchased at distressed price? I doubt so. I guess shareholders of CES may be made to pay up for it.
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LianBeng Member	07-Jun-2016 15:03        LianBeng About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thank you on the update. On 3 Jun 2016, CES announced granted of option of 40m shares @ $0.5542 (around 15% discount)  to Raymond. This is represents approximately 6.45% of No. of issued shares (excluding treasury shares) as at 31 Dec 2015. Besides retain Raymond in CES (due to option only exercisable after 2 years), there look like no other vested condition (ie. achieve certain KPI). tangsookiam1947      ( Date: 03-Jun-2016 21:15) Posted: skyscrapercity.com/showthread.php?t=1500584& page=46 someone wrote this:- 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. ___
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nphp1117 Member	07-Jun-2016 10:27        nphp1117 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Sorry I couldn' t understand. What do you mean? tangsookiam1947      ( Date: 07-Jun-2016 08:34) Posted: simple reason - to retire old bond coming due in 2017 :) no need to think so deep...
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tangsookiam1947 Master	07-Jun-2016 08:34        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	simple reason - to retire old bond coming due in 2017 :) no need to think so deep...
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jm2212 Master	06-Jun-2016 13:20        jm2212 About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	plan to issue bond today....split & spin off of construction business?
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fruitty Senior	06-Jun-2016 05:35        fruitty About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yes buyers capital gain has nothing to do with purchasers. No penalty interest to govt for chip eng Seng too as sunset date can be extended and if purchasers disagree they can terminate Contracts. tangsookiam1947      ( Date: 06-Jun-2016 00:25) Posted: does captial tax gain matter to CEL? it is the buyer' s issue rite?
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tangsookiam1947 Master	06-Jun-2016 00:25        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	does captial tax gain matter to CEL? it is the buyer' s issue rite?
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edwinjup Supreme	05-Jun-2016 10:24        edwinjup About Contact  Quote this Post!
x 0   x 0  Alert Admin	Aust capital gain tax is 30%?? tangsookiam1947      ( Date: 05-Jun-2016 10:15) Posted: in short, no need to worry about penalty to be paid by CEL. In Australia, buyer only paid 10% of pruchase price..
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tangsookiam1947 Master	05-Jun-2016 10:15        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	in short, no need to worry about penalty to be paid by CEL. In Australia, buyer only paid 10% of pruchase price..
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tangsookiam1947 Master	03-Jun-2016 21:15        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	skyscrapercity.com/showthread.php?t=1500584& page=46 someone wrote this:- 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. ___
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LianBeng Member	03-Jun-2016 17:27        LianBeng About Contact  Quote this Post!
x 0   x 0  Alert Admin	In Malaysia and Singapore, S& P normally stated the expected completion date. If developer not able to hand over the houses on the completion date. Developer will paid penalty to buyer based on the delay time frame. Anyone can share this on TM project? tangsookiam1947      ( Date: 03-Jun-2016 13:08) Posted: despite the long delay to this TM project, it is still no doubt a very profitable project that will create a bonazza few years down the road for CES...
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tangsookiam1947 Master	03-Jun-2016 13:08        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	despite the long delay to this TM project, it is still no doubt a very profitable project that will create a bonazza few years down the road for CES...
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tangsookiam1947 Master	03-Jun-2016 13:00        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	does anyone know whether demolition work is resuming at Tower Melbourne soon?
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