Chip Eng Seng   

Reason to Vest

Pursuant to the Subscription Agreement, Citadel will, subject to the fulfillment of the conditions

precedent set out in the Subscription Agreement, subscribe for 60,726,290 ordinary shares

(the ?Subscription Shares?) in the Company at an issue price of S$0.50 in cash for each

Subscription Share making an aggregate issue price of S$30,363,145 (the ?Subscription

Price?) (the ?Subscription?). The Subscription Shares represent approximately 9.1% of the

enlarged issued share capital of the Company. Completion of the Subscription Agreement is

conditional upon, inter alia, the completion of due diligence on the Company and its

subsidiaries (the ?Group?)

 

2morrow Halt ! Any news!

 

 

They have gone beyond construction and are also property developers as well. Will see its profit surge like all other property developers.  Cheers to all vested !

 

CES is putting on high volume and higher price.

 

Fundemental good, cash flow good, dividend good, positioning the booming time in construction industry.  If it could secure any construction contract from IR, lagi best!  Two days ago, read the newspaper, secure a 40 million worth contract.  I think more good news may come. cheers.  Cheong Ah.......Ah Semg

 

 

Singapore looking at reopening granite quarry Posted: 09 April 2007 1403 hrs SINGAPORE: Singapore is looking at reopening a granite quarry on Pulau Ubin http://www.channelnewsasia.com/stories/singaporelocalnews/view/269297/1/.html

 

Hi, cheongsl. Great to hear that you had been collecting good dividends for the past few years from Chip Eng Seng. Me too, I had getting the dividends since I bought at 16 cents. I think dividend-investing is one of the good approach.

For those who are unfamiliar towards dividend-investing, there are two articles about it, focusing on stocks and unit trust

Stock         -  http://www.helium.com/tm/232440

Unit Trust - http://www.helium.com/tm/217830

 

Myanmar has suggested to Singapore that it could be a long-term supplier of sand, cement, granite and other construction materials.


http://www.channelnewsasia.com/stories/singaporelocalnews/view/268311/1/.html

 

moving up again

 

Time to collect divident 0.75cts First and final and 0.75 cts special divident. Have been collect for past few years

 

Chip Eng Seng, which has teamed up with investment bank Lehman Brothers to develop property in, expects a trebling in profits in 2007, when it launches three residential projects.



Chip Eng Seng's Executive Director Raymond Chia told Reuters in an interview on Thursday that UOBKH's forecast of a $36 million net for 2007, a tripling of expected profits of $12.3 million in 2006, is "close enough." Chip Eng Seng means "United and Eternally Successful" in Mandarin.

Last July, the firm formed a joint venture with U.S. investment bank Lehman Brothers' private equity real estate fund -- Lehman Brothers Real Estate Partners II -- to develop properties. The joint venture is building two high-rise apartment projects in Singapore's prime and suburban districts.



More deals are likely to follow, said Chia, the son-in-law of company founder and executive chairman Lim Tiam Seng. Chia said the company hopes to acquire a construction-related company, to ride on building demand from the two casino resorts -- costing US$6.6 billion -- that are due for completion in 2009/10.



"Foreign companies that come in would likely need a local firm to help them execute the project," Chia said. "They would need specialist sub-contractors, as it'll be extremely expensive to bring theirs in."



"To me, the best way for an expansion plan is not through organic growth, I would have to go into acquisitions," he said.



Chia said the company plans to issue a 2-year bond of up to $150 million in tranches to finance its current projects, acquisitions and for working capital. The first $60 million tranche would be released in March. Sales from the firm's ongoing residential projects would be able to exceed that, Chia said.



"We have to give bond holders the certainty and comfort that we'll be able to pay," he said.



Besides Lehman Brothers, Chip Eng Seng has also partnered with Chicago-based hedge fund Citadel Investment Group to develop properties in Singapore.



Chia said the firm, which has expanded to Australia, hopes to develop properties in Vietnam and China within two to three years.

 

going to up now.

 

hey awchyeong, apologies missed this post since i usually don't read on counters i'm not vested in.

anyhow, ChipES has been on a TA downtrend since the time i predicted the sell for you.

but in this kind of market, haha, even dud stocks will go up.

will find koh brothers thread and post that there.

alanwong; construction stocks shot up on news after lunchtime that their profit last year was (i can't remember how many) billions, and expected to do well this year.  

 

Construction stocks shooted up (3 to 10%) after 2pm today. 6 out of 9  stocks with at least 10mil traded each went up. Koh Brother, Chip Eng Seng, Hiap Hoe , Lum Chiang, Liang Beng and CSC. Any good reason behind the push-up after 2p.m?  

 

Elf : Finally I let go at 4.15. make 1k+. Thanks for the guide along the way. Eye for 'koh brother' now. any advise. may comments under thread of ' K bro'

 

thanks both of you, alanwong12345 and rickytan.

 

Hi Taybc1071 / Rickytan,

Please view the following link to see whether what you are looking for.

http://research.uobkayhian.com/research/content.show.action?filename=2007010919062156845069533.pdf

 

hi taybc1071, I think I have deleted the e-mail.  It's a daily report either from UOB Kay Hian or CIMB.  Can only check when I am back to office on Monday.

 

Hi rickytan, mind to share the report that target price is 42 cts. Thanks.