| Latest Forum Topics / Heeton Last:0.23 -- |
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Is it time to accumulate this stock now?
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Jackpot2010
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30-Aug-2013 13:33
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Luxury residential property market is dead. Prime location but cannot sell even 1 unit, now on wholesale. At $2.2k - 2.3k psf HH could incur losses or b/even at best.  The 30-unit iLiv@Grange condominium could be put up for en bloc sale, media reports said. According to market chatter, local developer Heeton Holdings is asking for S$2,200 to S$2,300 psf for the units. This works out to S$129 million ? S$135 million given the development's total saleable area of about 58,500 sq ft. The 16-storey building located at 74 Grange Road in District 10 also comprises a basement carpark and recreational facilities. The freehold project is expected to TOP in October. If Heeton fails to get an attractive price, it will likely sell the units individually. Under the Qualifying Certificate conditions, Heeton has two years after the TOP to sell all the project's units. The developer bought the 20,325 sq ft site for S$72.8 million or S$1,700-plus psf ppr in 2007. Considering the current selling price, Heeton will achieve a breakeven cost of around S$2,000 to S$2,200 psf, analysts noted. Source: http://www.propertyguru.com.sg/property-management-news/2013/8/36535/iliv-grange-condo-reportedly-for-sale |
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Jackpot2010
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06-Jul-2013 13:19
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Bonus= 1-for-5, same for Bonus warrant =1-for-5. Value of warrant? The theoretical ex-bonus price of mother share = 66c, computed on current 79c x 5 share divided by 6 share (1-for-5 ratio) = 66c. In this case, the warrant is worth zero (b'cos 66c < 70c exercise px). Assuming the mother share move up to say 80c, then the value of the warrant is = diff between 80c and 70c = 10c. The warrant will expire 2yrs from listing date (not fixed yet). |
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tea444u
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05-Jul-2013 23:04
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HI is it one free warrant for every share owned? btw how much is the warrant value?
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Jackpot2010
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29-Jun-2013 09:58
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ALL prop stocks will drop on Monday. where to find buyers (of residential prop) now, with restrictions on loan-to-value (50%) & now loan-to-income (60%) etc.etc. this is like the final nail in the coffin. But Heeton is ok, it is not solely residential, got many retail/commercial prop. I'm still holding n will buy more if drop. |
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johnloke49
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29-Jun-2013 01:31
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What will the latest property curb have on property counters on Monday? Please comment . |
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LKY(LimKaYew)
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29-Jun-2013 00:24
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Closed at 0.785 on Fri. Will be buying in again if it dips on its uptrend. Not many stocks are like Heeton being able to withstand the recent 2 free falls. | ||
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LKY(LimKaYew)
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28-Jun-2013 01:48
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Sold! 0.75, 0.79 & 0.76 in 3 different batches. Very Good money! | ||
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Jackpot2010
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27-Jun-2013 10:10
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Shareholders are rewarded today = Bonus 1-for-5 & 1 free warrant. This 'dark' horse overtake peers like Lion TC, Chip Eng Seng, KHsp, Hiap Hoe, etc. This 1 free warrant is worth easily 10c each. | ||
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propertyinvestor
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15-Feb-2013 15:37
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Many profitable launches are in the works, including the Hong Leong Gdn site. The big one, of course, is the redevelopment of El Centro at Tg Pagar, which will be highly profitable. Existing tenants in the building are already asked to leave. Assuming a GFA of 60,420 sq ft and ASP of $3,000 psf, I arrive at a sales value of $181m. I believe the book value of the present building plus construction cost for the new one adds up to about $85m, giving Heeton a gross profit of perhaps $96m, or 43ct per share. On a per share basis, the profits from Heeton's many JVs with the likes of Oxley are much higher than the other JV partners' because of its fewer number of outstanding shares (Heeton: 223m shares, Oxley: nearly 3 billion shares). On the negative side, Heeton has failed to move units at Lumos and I Liv At Grange. Nevertheless, RNAV of as high $1.60-$2 should provide price support. |
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propertyinvestor
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15-Feb-2013 12:56
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Retail units at Sun Plaza is carried on the books at a conservative 1680psf or 125million for their 50% share. If the units are resold strata titled, they could fetch as high as 4000psf for the ground floor units and 3000psf for the higher floor units. Such a sale could add around 66c/ share in NAV to bring it up to $1.75/share | ||
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Jackpot2010
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26-Nov-2012 10:38
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http://www.businesstimes.com.sg/sites/businesstimes.com.sg/files/BT20121115-XSA-009-00.pdf |
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Jackpot2010
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24-Oct-2012 10:50
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SkyGreen condo profit (estimate) add approx. 9.3c to Heeton NAV, computed below: SkyGreen Gross floor area: 140,557 sf Enbloc cost of $750 psfppr + est. Building cost of $380 psfppr = $1,130 psf ppr (total cost). Average Selling price: $1,502 psfppr Profit: $372 psfppr x 140,557 sf = $52.287m (Total Condo profit) Heeton's share of JV 40% : $52.287m x 40% = $20.915m Total no. issued share: 223.846m Profit per share = 9.3c each |
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Jackpot2010
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23-Oct-2012 19:25
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http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_1C1006961C0536B448257AA000365C43/$file/HeetonSkyGreenAttractsStrongBuyerResponseonSoftLaunch.pdf?openelement SKY GREEN ATTRACTS STRONG BUYER RESPONSE IN SOFT LAUNCH The 176-unit freehold development has sold approximately 80% before its official launch, which is slated for next weekend. The units were sold at an average of $1,502 per sq ft. Buyers were mainly Singaporeans. |
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Jackpot2010
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09-Oct-2012 14:29
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Despite its solid assets, This 1 fallen more than peers, Down by 3.5c in just 2 days after the 35-yr loan cap. Any bad news? | ||
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wikiwiki
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04-Sep-2012 13:48
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Hi toheewing, am interested in your full report for Heeton. I have sent u a PM, thanks!
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imperialap
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19-Apr-2012 23:47
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Yes, definitely agree that there are few counters that shoot to the roof really fast, like JEL but these counters are the ones that make the average investor lose their pants. For an active trader, these high volume stocks are gold, but most people would suffer otherwise we won't hear about so many investors losing money in the markets. Also, when most people trade in stocks without fundamentals, they only dare to risk a little bit of their money. Therefore, although the stocks may shoot up 2, 3 or even 7 times, the growth in the overall portfolio may only turn up to about 5-10%. Of course, for those who keep getting these plays right such as yourself, then kudos to them, but that's not the average joe. For the debt, it may work out to around 60% debt, but most of us have 80% debt when investing in property. Of course, if the property market falls by 40+%, then Heeton may lose all their NAV. However, most property bears only result in 20+% losses, which only brings Heeton back to fair value. Anyway, it's anyone's guess on how the markets will react, but as mentioned, this is a stock for people wanting to invest in properties to look at. Instead of placing money in properties, why not place it in this stock to get properties at half price, plus the benefit of diversification across commercial and residential properties? Regarding the stock not moving much, do note that if people invest in properties instead, they are tied for a longer period of time usually and transaction costs are huge. Overall, I'm not suggesting that this is a better stock to trade than the rest, but this is a good replacement for those thinking of buying properties. Afterall, it offers a safety of margin which other property investments won't offer. Also, you don't have to deal with tenant nonsense and stuff. |
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readysteadygo
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19-Apr-2012 22:45
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I agree with victortan regarding buying counters with high volume. It is a faster way to earn from the markets, epecially now with all the penny stocks rushing . In fact I noticed victortan has been giving a lot of accurate predictions with pennies . good job! However, I think we have to agree to disagree on some stuff. Trading and investing are different, we have to look at what is the individual investor's risk profile, emotion controls. Ulitimately at the end of the day if he trade liquid stocks but emotions hold him back from cutting loss, or his lifestyle prevents him from monitoring stocks everyday, he is better off trading a non-volatile stock but at least pay out decent dividends over the long run. So to each his own, no " one-size-fits- all" or " technical > fundamental" ,. :) But with regard to investing in Heeton, too much debt may not be a good thing actually, and I would wait for policymakers in Singapore to announce further housing cooling property measures which I believe will happen really soon after looking at Capitaland's sky habitat overzealous activity... Good luck! |
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victortan
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19-Apr-2012 22:34
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I hope you dont mind my word, I know ppl like undervalue stock, and ppl see P/B.and so on, but what so good if nobody is interested???esp BB You know this guy call Kevin Scully, he call ppl to buy undefvalue stock and wait for mkt to come and realise it value...value investing. and at the same time he said it pay good div, u know what. most of his stock are not liquid, like this one. so while waiting for this to happen, what shall we do??? go play golf with him??? anything below a dollar, fund will not buy, and BB like to play hot and empty shell and rumour , concept play, so you want to wait it out in here. opportunity cost, it is worse than i cut loss several time. make hay while the sun shines make your money work harder, play where there is play,dont leave it here . |
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imperialap
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19-Apr-2012 21:03
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I think this stock is really undervalued with a couple of reasons to justify. 1. The NAV per share is about twice the current share price, meaning you are buying a company worth $2 for just $1, even if we assume that the whole company has 0 goodwill and is just about its assets. Also, almost all the assets are Singapore properties which are considered high quality assets which appreciate over time, unlike machines or equipments that depreciate. 2. The gain/loss attributed to properties fair value gain reported by the company seems to be just 1-2% for both 2010 and 2011. Personally, I believe that the price of properties should have appreciated much more than that, whether it's the commercial property for their investment holding or residential property that are their development properties. Therefore, I believe that the NAV may be even higher than what's stated. Just look at how crazily developer sales are being snatched up recently despite the prices being quite steep. 3. Their use of leverage is substantial. To most companies, whether it is good or not is subjective, but for Heeton, this is great. Why do individuals like to buy properties in the first place? To buy a 1m property, we can pay just 200k and when the property moves 20%, we make 200k or a 100% return. That's how many people make their money. Buying shares of Heeton is like buying properties with the amount of properties they hold. 4. With property investment, most people fail to realize that if the market moves in different direction, then we may lose the same amount and get stuck with the property. Of course, property prices tend to increase over time so most people feel that the downside risk is not that substantial. Buying Heeton will limit your risks, since you are just a shareholder and at the most lose all your money. This is not likely to happen too since the valuations are still quite cheap. 5. It has low trading volume, which signals an under-covered stock. If everybody sees a $100 bill, you won't be the person to pick it up. However, Heeton is not seen much and when interests pick up, it may be too late/ pricey to accumulate. Summary To sum up, would you buy a 1m property today if the owner wants to sell it to you at just 500k? To me, buying Heeton is like that, cause they theoretically hold about $1 worth of property (and as mentioned in point 2, may even be higher), even though the share price is just 40 cents. Also, the company uses huge leverage to buy properties, so a 20% increase in property price may result in a 50% gain in NAV. If you're bearish about properties in SG, then stay away from Heeton. However, if you feel that Singapore properties will appreciate or even just stay flat, then Heeton sounds like a good stock to hold. For me, I'm hoping for the double happiness of both Singapore properties appreciating and Heeton's share price matching up to NAV pricing. I am always wondering if this can be a potential multi-bagger. Do your own due diligence, I'm vested so I may be biased. :) |
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propertyinvestor
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21-Mar-2012 09:40
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Queuing today hopefully got some sell down! | ||
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