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No one  has  posted the Q3 report (10 Nov) below yet.

PROPNEX&rsquo S 3Q2021 NET PROFIT AFTER TAX MORE THAN DOUBLE TO S$15.5 MILLION
- Revenue doubled to S$234.4 million with strong cash position of S$123.7 million
- Salesforce in Singapore first to cross 10,000-mark, solidifying position as Singapore&rsquo s largest real estate agency
- Company aims to pay out 75% to 80% of its FY2021 profits to shareholders as dividends
- Collective Sales Division gaining momentum, Lakepoint Condo tender closing in December 2021
- Sets up PropNex Real Estate Salespersons Chapter &ndash Agents&rsquo Voice Matters to champion real estate salespersons&rsquo welfare and professionalism

Singapore, 10 November 2021 &ndash PropNex Limited (&ldquo PropNex&rdquo , or the &ldquo Company&rdquo , and together with its subsidiaries, the &ldquo Group&rdquo ), Singapore&rsquo s largest listed real estate agency, today reported a net profit after tax (&ldquo NPAT&rdquo ) of S$15.5 million for the third quarter ended 30 September 2021 (&ldquo 3Q2021&rdquo ), more than double the NPAT of S$7.2 million in the previous corresponding period (&ldquo 3Q2020&rdquo ). This was achieved on the back of S$234.4 million in revenue, up 98.8% from S$117.9 million in the previous corresponding period. 

The Group&rsquo s revenue for the quarter was mainly driven by higher commission income from agency services of approximately S$67.5 million and from project marketing services of approximately S$48.9 million. This was a result of a higher number of transactions completed in 3Q2021 following improvements in both the Covid-19 situation and the economy. The three key market segments of new launches, private resale and HDB resale saw strong growth year-on-year growth in 3Q2021. Notably, 3Q2021 was one of the quarters with highest number of private resale transactions over the past ten years, with 5,362 units changing hands. The last time when resale volume exceeded 5,000 units was in the second quarter of 2010. According to data from the Urban Redevelopment Authority, overall private home prices continued to climb for the sixth consecutive quarter in 3Q2021, and was up 7.5% yearon-year. The HDB resale price index of 150.6 in 3Q2021 surpassed the previous peak in the second quarter of 2013 which had an index of 149.4. These were attained despite the tighter Covid-19 safe management measures under the Phase 2 Heightened Alert in July and August 2021. 

Mr. Ismail Gafoor, co-founder, Executive Chairman and CEO of PropNex, said, &ldquo PropNex delivered a commendable revenue and profit this quarter, demonstrating broad-based strength and the resilience of our business model. This bears testament to the strength and power of our platform and productivity of our people. Besides our key drivers of growth in agency services and project marketing services, we are also heartened to see heightened activity in the en bloc space, and have made significant progress in securing viable projects in this regard. Keen interest is expected for the Lakepoint Condominium at the reserve price of S$640m with tender closing on 22 December 2021.&rdquo

&ldquo To stay ahead of the curve, we continue to invest significant resources in talent development, innovation and technology. Our financial strength allows us to make timely investments to transform the businesses that we operate, enables us to deliver better experiences for customers, to win market share and to reinforce our leadership position over the long term,&rdquo added Mr Ismail. For the nine months ended 30 September 2021 (&ldquo 9M2021&rdquo ), revenue doubled to S$715.5 million from S$358.4 million a year ago (&ldquo 9M2020&rdquo ). NPAT for 9M2021 grew 114.8% to S$49.9 million from S$23.2 million in 9M2020. This was mainly driven by the increase in commission income from agency services and project marketing services.

" Following the strong set of results for 1H2021, the Company paid interim dividend of 5.5c per share on 3 September 2021 to shareholders. That was about 65% of 1H2021 PATMI. The real estate market remained resilient and the momentum continued in 3Q2021, with strong performance in terms of volume and price. The overall volume of transactions for 9M2021 had exceeded that for the entire year of 2020. That will enable the Company to add onto the strong 1H2021 results. Barring projects or corporate activities that may require significant cash outlay, and that the Group&rsquo s working capital continues to remain adequate, the Company aims to pay out 75% to 80% of its FY2021 profits to shareholders," remarked Ismail Gafoor, Executive Chairman and CEO of PropNex. The Group continued to be debt free, and its balance sheet remained healthy with cash and cash equivalents of S$123.7 million as at 30 September 2021, compared to S$94.7 million as at 30 September 2020.

Championing Salespersons&rsquo Welfare and Professionalism PropNex marked another milestone on 7 October 2021 by being the first real estate agency to set up the PropNex Real Estate Salespersons Chapter &ndash Agents&rsquo Voice Page 4 of 5 Matters with a formalised framework supported by the Singapore Industrial and Services Employees&rsquo Union (&ldquo SISEU&rdquo ) under NTUC. The chapter serves to look into the welfare of real estate salespersons, promoting professionalism in enhancing the business and industry practices and allows a platform for raising issues. The collaboration with SISEU allows PropNex salespersons to take the lead in playing a more active role in voicing their concerns and educating fellow salespersons of fair practices in the industry. PropNex will provide subsidies of S$0.5 million for all of its salespersons to be part of the PropNex Real Estate Chapter, in supporting their rights as well as promoting and advancing their interests. &ldquo As our salesperson numbers grow, it is timely now for this partnership with SISEU to strengthen PropNex&rsquo s offering as a fair and progressive Real Estate Agency. We strive to adopt the industry&rsquo s best practices, including fair recruitment, when contracting with salespersons and establishing a dispute resolution mechanism for all salespersons. We are delighted to be the first agency to cross the 10,000 salespersons on 1 November 2021, being the preferred real estate agency for career development among new and experienced salespersons,&rdquo added Mr Gafoor.

Market Outlook The healthy demand for homes is expected to continue to support prices, and buyers&rsquo confidence remains generally intact amid the gradual economic recovery, the low interest rate environment and excess liquidity in the market. In the upcoming 4Q2021, the residential market may be slightly muted due to the restrictions under the &ldquo Stabilisation Phase&rdquo as well as the festivities at the end of year. Page 5 of 5 For the whole of 2021, barring any unforeseen circumstances, the Group is projecting a total of close to 13,000 private new homes (excluding executive condominiums) and over 18,000 private resale units to be transacted. The figures represent an increase of 30% from 9,982 new homes sold in 2020, and a more than 67% increase from the 10,729 resale properties transacted in 2020. Overall private home prices are expected to rise 6% to 7%. In addition, the dwindling unsold stock &ndash at 17,140 units as at the end of 3Q2021 &ndash may also keep prices resilient given the limited supply. On the public housing front, the Group is projecting overall HDB resale volume to exceed 30,000 units in 2021, an increase of more than 20% from 2020&rsquo s number, largely attributed to the delay in completion of new BTO flats. The strong demand for resale flats will likely continue to support HDB resale prices for the rest of the year and into 2022. PropNex expects HDB resale prices to grow by 11% to 12% for the whole of 2021. The higher HDB resale prices may also motivate flat owners to sell their flats to recycle capital to purchase a larger resale flat or a private property.

 

what happen to this counter and apac? 

 

if want to save money, please group up with all the buyers, bid for GLS.
then get a contractor, to build your own condo ..... wow save a lot of money !!
if want to save every cent, please bring your own ingredient, prepare your own food at home
close all the hawker centres, coffeeshops
 

 

You heard but unverified news/info leh.. Lolxx 

Maybe for Developer F they always like to do what you have said. The other developers will direct the buyers to their appointed agencies to serve by queue number.

Seems like you probably are one of those who wanna service from realtors but not willing to pay type. They are professional and they deserve to be paid if anyone receive a service from them or from any professionals. 

In other countries, the realtors are paid first by the clients before the realtors commence work. Only Uniquely in Singapore, there are people who wants services from professional but not willing to pay for the services. This I can' t comprehen and no logic. It' s like a boss/client ask you to work and not willing to pay for the work scope done. Will anyone ever work for free?

honesty      ( Date: 11-Nov-2021 14:30) Posted: heard lots of direct buyers going direct to developers to get discount off those high commission paid to showroom agents and freelance agents hooking up buyers and bringing them to showroom. also some buyers after being brought there , go direct to developers agencies will survive if developers play their part to refuse direct buyers albeit developers are dropping commission to 1% very soon instead of now paying between 4 to 8% depending on which new project,  time for buyers to save up if want to upgrade to condo and go direct TradeExpert      ( Date: 10-Nov-2021 10:32) Posted: Corrections and sign of profit takings.... On its way down to around $1.6 to $1.65.

 

heard lots of direct buyers going direct to developers to get discount off those high commission paid to showroom agents and freelance agents hooking up buyers and bringing them to showroom. also some buyers after being brought there , go direct to developers
agencies will survive if developers play their part to refuse direct buyers albeit developers are dropping commission to 1% very soon instead of now paying between 4 to 8% depending on which new project, 
time for buyers to save up if want to upgrade to condo and go direct

TradeExpert      ( Date: 10-Nov-2021 10:32) Posted: Corrections and sign of profit takings.... On its way down to around $1.6 to $1.65.

 

PropNex might slowly climb up to beyond $2 if momentum permits. Dyodd

 

Corrections and sign of profit takings....

On its way down to around $1.6 to $1.65. 

 

Wah, no wonder never see you in SMM thread. You hiding here. HAHA.

uiop1223      ( Date: 05-Nov-2021 15:28) Posted: If its delivery, im ok. If its open for dine in, i want privacy in my condo and not want many strangers walk in and out

 

Thomson View Condominium launched for collective sale at $950 million .. https://www.edgeprop.sg/property-news/thomson-view-condominium-launched-collective-sale?utm_source=pushengage& utm_medium=pushnotification& utm_campaign=pushengage

wehuattogether88      ( Date: 08-Nov-2021 14:48) Posted: Before PropNex and Apac gives out the next round of dividends, can grab a bit of these shares. But always dyodd.  Remember its your money.

 

Before PropNex and Apac gives out the next round of dividends, can grab a bit of these shares.
But always dyodd. 
Remember its your money.

 

If its delivery, im ok. If its open for dine in, i want privacy in my condo and not want many strangers walk in and out

 

QR code for entry la, also now everywhere is 2 ppl, if F& B still can survive, home cook also can n will do delivery,  go with the flow. This will inevitably reduce food costs by good chefs cooking from home, no need pay commerical rent. in cbd, many offices in shophouses complain about F& B next door, noisy yet pest infestations, staff working in those offices always face to face meeting with cockroaches etc. Cooking from Home will be cleaner because it is a Home, will stay spick and span. F& B renting the shophouses wont bother much after midnight, just clean up , pack and go, wont bother to check corners for pests

uiop1223      ( Date: 05-Nov-2021 14:28) Posted: Limit of 2 visitors per day. How to have home cook dinning? And if u r the chef neighbours, do u like many strangers walking pass ur unit? zillion      ( Date: 05-Nov-2021 13:21) Posted: On your note of passing the ever increasing rental costs to consumers esp in F& B govt should think more out of the box by allowing home kitchen cooking with NEA guidelines. With food delivery good chefs should find own biz cooking at home. In many countries they allow diners at their home. Like online shopping no need so many retail shops. Like home based working no need so many office buildings. What I can see is the govt is reinventing itself in the digital world. Property investing (Sell1Buy2) is no longer attractive. Foreigners just monetised their ill gotten gains by parking their $$$ in commerical property

 

Limit of 2 visitors per day. How to have home cook dinning? And if u r the chef neighbours, do u like many strangers walking pass ur unit?

zillion      ( Date: 05-Nov-2021 13:21) Posted: On your note of passing the ever increasing rental costs to consumers esp in F& B govt should think more out of the box by allowing home kitchen cooking with NEA guidelines. With food delivery good chefs should find own biz cooking at home. In many countries they allow diners at their home. Like online shopping no need so many retail shops. Like home based working no need so many office buildings. What I can see is the govt is reinventing itself in the digital world. Property investing (Sell1Buy2) is no longer attractive. Foreigners just monetised their ill gotten gains by parking their $$$ in commerical property. honesty      ( Date: 05-Nov-2021 11:38) Posted: agreed, commercial in particular shophouses have shot up through the roof with so many foriegn ownerships of our so call " Conservation Shophouses" , these are almost 50% foreign owned to avoid ABSD and SSD. With so much money out there, there will be a day, many of these will be foreign-owned and locasl who are in the food business got to pay very high rental and it will be in sync to raise food prices. Relevant authority must act soon and swift on the absd and ssd including offices

 

Residental property is the best investment around. From Aug to Oct, within 2mths, my investment property jump 6%. Just like shares, dont anyhow buy.. like those who bought Jowell, woodleigh.. u become another robert. 😂 Clavon was good but many missed the boat 😊

 

very well said, hopefully the govt opens up their mind on Home Cooking as long as there is sufficient insurance coverage for any incidental fire, pets infestations etc and should be checked fortnightly without notice by Food Authority and Home environment. Let the so many foreign owned shophouses/conservation houses hold it without tenants albeit if there is ill gotten money in the purchase is okay to them.  perhaps our authority should step up on checks meticulously since these shophouses are very expensive in the multi-millions. Shophouses/Conversation Houses should be owned by locals or must pay ABSD and SSD, otherwise buy today and sell next month no need pay SSD 12% 1st year/8% 2nd year and 4% 3rd year. These stamp duties will help increase the govt coffers and use it to pay more to our hospital employees who work so hard to save patients

zillion      ( Date: 05-Nov-2021 13:21) Posted: On your note of passing the ever increasing rental costs to consumers esp in F& B govt should think more out of the box by allowing home kitchen cooking with NEA guidelines. With food delivery good chefs should find own biz cooking at home. In many countries they allow diners at their home. Like online shopping no need so many retail shops. Like home based working no need so many office buildings. What I can see is the govt is reinventing itself in the digital world. Property investing (Sell1Buy2) is no longer attractive. Foreigners just monetised their ill gotten gains by parking their $$$ in commerical property. honesty      ( Date: 05-Nov-2021 11:38) Posted: agreed, commercial in particular shophouses have shot up through the roof with so many foriegn ownerships of our so call " Conservation Shophouses" , these are almost 50% foreign owned to avoid ABSD and SSD. With so much money out there, there will be a day, many of these will be foreign-owned and locasl who are in the food business got to pay very high rental and it will be in sync to raise food prices. Relevant authority must act soon and swift on the absd and ssd including offices

 

On your note of passing the ever increasing rental costs to consumers esp in F& B govt should think more out of the box by allowing home kitchen cooking with NEA guidelines. With food delivery good chefs should find own biz cooking at home. In many countries they allow diners at their home. Like online shopping no need so many retail shops. Like home based working no need so many office buildings. What I can see is the govt is reinventing itself in the digital world. Property investing (Sell1Buy2) is no longer attractive. Foreigners just monetised their ill gotten gains by parking their $$$ in commerical property.

honesty      ( Date: 05-Nov-2021 11:38) Posted: agreed, commercial in particular shophouses have shot up through the roof with so many foriegn ownerships of our so call " Conservation Shophouses" , these are almost 50% foreign owned to avoid ABSD and SSD. With so much money out there, there will be a day, many of these will be foreign-owned and locasl who are in the food business got to pay very high rental and it will be in sync to raise food prices. Relevant authority must act soon and swift on the absd and ssd including offices  zillion      ( Date: 05-Nov-2021 11:21) Posted: Already we are experiencing hyper inflation. Since the whole world needs to syn by taxing the rich and famous, we will not be short changed as the whole world is experiencing everything prices have shot up and will stay that way. The only way for our economy and the rest of the world to collapse is from Fed increasing interest rates to fight off high inflation just like Paul Volcer' s time when interest rates shot up way above 15%. Knowing Fed Powell he will not use such a playbook he will just prinit print print and we all have to live with hyper inflation. Now with Russia in Opec+ many expect oil prices to remain high reminiscent of around 1970s oil embargo time. Presiden Biden called Opec 3 times few months ago and Opec just ignored him

 

i rarely say anything good to short..

But i believe this counter have a lot of room to short?

Honestly, this pandemic.. alot of agent huat big time..

People are generally still live in the olden days of thinking " buying 2nd property" will huat.

But the hype is over? My ex gf is a PA. No joke... now alot of people buy GCB or all the office, shophouses.. really left right centre.. havent account for all the dua-pek gong at the showroom one.. new launch etc..

Idk la but maybe garhmen now havent taken notice all these.. so far no new changes? except all the single cannot buy prime estate.. or mature location.. dont know simi LJ but ya.. their focus is damn rakhbah... peope already flip until cannot flip.. rich become richer.. and its true. 

if i ever to short this.. ill be like.. really praying garhmen come out some imba tax rules.. then all PA toh kind
 

 

agreed, commercial in particular shophouses have shot up through the roof with so many foriegn ownerships of our so call " Conservation Shophouses" , these are almost 50% foreign owned to avoid ABSD and SSD. With so much money out there, there will be a day, many of these will be foreign-owned and locasl who are in the food business got to pay very high rental and it will be in sync to raise food prices. Relevant authority must act soon and swift on the absd and ssd including offices 

zillion      ( Date: 05-Nov-2021 11:21) Posted: Already we are experiencing hyper inflation. Since the whole world needs to syn by taxing the rich and famous, we will not be short changed as the whole world is experiencing everything prices have shot up and will stay that way. The only way for our economy and the rest of the world to collapse is from Fed increasing interest rates to fight off high inflation just like Paul Volcer' s time when interest rates shot up way above 15%. Knowing Fed Powell he will not use such a playbook he will just prinit print print and we all have to live with hyper inflation. Now with Russia in Opec+ many expect oil prices to remain high reminiscent of around 1970s oil embargo time. Presiden Biden called Opec 3 times few months ago and Opec just ignored him. TradeExpert      ( Date: 05-Nov-2021 10:45) Posted: If Govt impose ABSD and SSD or any other fom of tax on commercial properties, be prepared for a financial crisis and the govt cannot afford to do it. If they do impose, they are silly to the core and will end up banging their head against the wall when majority of the investors and funds will put out their investments from Singapore. Also, there will be tremendous detrimental effects on the businesses. Everything will just rise overnight from your food to etc etc.  Do you think they will and can afford the price

 

Already we are experiencing hyper inflation. Since the whole world needs to syn by taxing the rich and famous, we will not be short changed as the whole world is experiencing everything prices have shot up and will stay that way. The only way for our economy and the rest of the world to collapse is from Fed increasing interest rates to fight off high inflation just like Paul Volcer' s time when interest rates shot up way above 15%. Knowing Fed Powell he will not use such a playbook he will just prinit print print and we all have to live with hyper inflation. Now with Russia in Opec+ many expect oil prices to remain high reminiscent of around 1970s oil embargo time. Presiden Biden called Opec 3 times few months ago and Opec just ignored him.

TradeExpert      ( Date: 05-Nov-2021 10:45) Posted: If Govt impose ABSD and SSD or any other fom of tax on commercial properties, be prepared for a financial crisis and the govt cannot afford to do it. If they do impose, they are silly to the core and will end up banging their head against the wall when majority of the investors and funds will put out their investments from Singapore. Also, there will be tremendous detrimental effects on the businesses. Everything will just rise overnight from your food to etc etc.  Do you think they will and can afford the price? zillion      ( Date: 05-Nov-2021 10:36) Posted: Govt depends on land sale proceeds to fill up its kitty not to be touched by health sector or any other sector. It depends heavily on stamp duty, absd and the only escape route for foreigners to buy property is non residential property. Since want to implement tax on rich people round the whole world, it should impose tax on commercial property too