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Chip Eng Seng: Entered contracts to purchase 3 adjoining sites in Doncaster, Victoria, Australia, for an aggregate A$19.3m. The sites located at 154-166 Williamsons Road, 5-17 Henry Street and 59 Margot Avenue, have an aggregate area of 28,002 sqm, which the group intends to develop into a residential project consisting of approximately 90 town houses and 50 apartments. This is the group's fourth property project in Melbourne. Chip Eng Seng currently trades at 5.8x trailing P/E, in line with its 1-year historical average
3Q results 2013: Not so good. 3Q Profit of $27m was entirely contributed by JV project (Prive) - without which the co would hv operating loss for 3Q. Only marginal own development income was reported - could be due to timing of recognition but this is not a problem b'cos the income could flow into Q4. Problem is construction segment which most likely incurred loss, no improvement vs 1H.
Q4: I am expecting most of the development income to flow into Q4, so the full yr results would be very good. Remain vested + increasing exposure. DYODDhttp://infopub.sgx.com/FileOpen/3Q_2013_ANNX.ashx?App=Announcement& FileID=262761Jackpot2010 ( Date: 13-Aug-2013 09:58) Posted:
1H 2013 results out last nite - very much below expectation.
Despite total revenue increasing by 81% mainly from property development, overall profit drop by 3% vs last yr. There is no disclosure on segmental performance, but I guess the construction segment is making losses n eating into property development segment. Nowadays, how to make money on HDB contracts especially on razor thin margin and with recent increase in foreign workers' levy, breaking even is considered lucky. |
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once break 0.72 , see 0.8 soon
Chip Eng Seng break above downtrend line
Chip Eng Seng currently trading at 0.70, our system show a trigger to go long, is it time for the trend to turn up? looking at the downtrend line, seems like price has successfully broken out of the downtrending zone. One can consider to go long with stoploss placed at 0.67(in case price fall back below the trendline. ...last: $0.695...
| Chip Eng Seng-Likely further correction after bearish break |
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By Philip Teo
Likely further correction after bearish break Key support violated.
Chip Eng Seng is likely to see more downside ahead after failing a retest at its 7-month downtrend resistance recently this was followed by a bearish break below the $0.66 key support on significant trading volume yesterday.
Indicator is still bearish.
The MACD is still trending lower steadily as well, suggesting that the downside momentum could continue.
Next key support at $0.57.
The counter could possibly slip further towards the next key base at $0.57 (key trough) for a test in the weeks ahead.
Immediate resistance at $0.66.
Meanwhile, we advocate a stop-loss exit for short sellers at around $0.69, which is slightly above the newly established support-turned-resistance at $0.66. |
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1H 2013 results out last nite - very much below expectation.
Despite total revenue increasing by 81% mainly from property development, overall profit drop by 3% vs last yr. There is no disclosure on segmental performance, but I guess the construction segment is making losses n eating into property development segment. Nowadays, how to make money on HDB contracts especially on razor thin margin and with recent increase in foreign workers' levy, breaking even is considered lucky.
Tallest residential building in Melbourne CBD area, 71-storey Tower Melbourne by CEL Australia." Tower Melbourne was publicly released for sale in February and project director Tim Pearce says interest has been strong, with many apartments, more than half of the townhouses and two of the penthouses already sold." http://www.theweeklyreview.com.au/property/developing-our-city/5985-tower-melbourne/#.UgiOlpIweet
More upside if can clear 0.72. Good luck.
San Centre is about 1.5m from Gallery Hotel.Source: BT
PUBLISHED AUGUST 02, 2013Gallery Hotel changing hands for more than $230m
Ngo family tipped to be selling the 223-room freehold asset to RB Capital
Proximity play: Buying The Gallery Hotel (left) will allow RB Capital to tap synergies with ground floor retail units it bought last year at The Quayside next door. - PHOTO: ARTHUR LEE
THE freehold Gallery Hotel in the Robertson Quay area is understood to have been sold for slightly over $230 million, or just over $1 million per room.
Word on the street is that the 223-room hotel is being sold by Robertson Quay Investment, controlled by the Ngo family, to RB Capital.
The 10-storey hotel was completed in 2000.
Knight Frank, which had been marketing the property quietly, is believed to have brokered the transaction.
2Q Results out next week. Potential bonus issue. Big plans coming for former " San Centre" site acquired in March 2013 - white site, can built Hotel or Residential-cum-Commercial (40/60). The latter could be a better choice. Last traded at 69c vs RNAV $2See who bought San Centre for a cool $113 million
Sold en bloc by Jones Lang LaSalle.
CEL Property Investment Pte Ltd (CEL), a subsidiary of Mainboard-listed Chip Eng Seng Corporation Ltd has successfully purchased San Centre, a 12-storey office building located along Chin Swee Road, said Jones Lang LaSalle in a release.
This marks the first commercial collective sale site sold for the year in Singapore.
The subject office building comprises 107 strata-titled office units and 80 carpark lots, built in the 1970s.
“San Centre has a land area of 28,719 sq ft, and is zoned for Commercial use under the 2008 Master Plan. In response to an Outline Planning Permission application, the planning authorities have advised that they are prepared to support the redevelopment of the site into a 20-storey hotel development or a mixed residential and commercial development with at least 60% of the space set aside for commercial use,” says Mr Karamjit Singh, Head of Investments & Residential, Jones Lang LaSalle.
“As the site of San Centre enjoys the flexibility of various redevelopment options, its tender attracted good interest from investors and developers.”
“In a location flanked by the Central Business District (CBD), the culturally rich Chinatown of Singapore and the vibrant Robertson Quay, a hotel redevelopment would cater to business travellers and tourists. It is also viable to retain its use as an office building, as its close proximity to the Subordinate Courts could appeal to small and medium-sized law firms as potential buyers or tenants,” says Mr Singh.
“Demand remains strong for properties with commercial or hotel redevelopment potentials. Small to medium sized residential en blocs with unique attributes, such as those zoned for landed properties, or sites close to MRT stations, will continue to be well sought after,” added Mr Singh.
Jones Lang LaSalle said that about 90% of owners have consented in writing to CEL‟ s offer of $113 million, which translates to $857 psf over the existing gross floor area. The owners of San Centre will be receiving a gross sale price ranging from about $400,000 to $2.25 million. - Source: Spore Business Review published 27 March 2013
Ah chip woke up yesterday. Watch for high volume before entry. Good luck.
Wahahahah Great chance to load 77.5 to 78. Wahahahah!!!!!!!!
Cum Dividend on 15 March. 4 cents to be included after tomorrow. Wahahahaha!!!!!!!!!!!
inching up. any good news?
Wahahaha!!!! In the afternoon. Wahahaha!!!!!
Time to load. Wahahaha!!!!!!
Construction firm Chip Eng Seng Corporation said on Thursday that its net profit for the fourth quarter had risen 36 per cent to S$39.21 million, from S$28.83 million a year earlier.
Revenue for the three months ended Dec 31, 2012 almost quadrupled to S$222.59 million from S$57.5 million previously. Robust growth in its property development business accounted for over half of the figure as turnover leapt to S$150.69 million from just S$4.41 million a year ago.
Net profit for the full year slid 34.3 per cent to S$81.27 million from S$123.70 million, even as revenue jumped 71.4 per cent to S$617.13 from S$359.98 million.
It kept its final dividend unchanged at 4 Singapore cents per share.
0.04/share. Not bad.
It's normal la. Don't sell how to take profit?
Up so much liao still don't sell, really wait for $1 ah?
EddieLeong ( Date: 14-Feb-2013 19:31) Posted:
| Any sifu know what happen to chip eng SENG sudden huge drop? |
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Over value? Short seller Act? or Stock dilution in process? or etc....
bishan22 ( Date: 14-Feb-2013 19:41) Posted:
The music stopped yesterday. Get out if you are still holding. Good luck.
EddieLeong ( Date: 14-Feb-2013 19:31) Posted:
| Any sifu know what happen to chip eng SENG sudden huge drop? |
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