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they bought land near or at the peak of cycle. breakeven price will be high with sentiment weak & price dropping like a brick for the higher end market.
future cashflow will be impacted as more money needed for development & interest/principal payment for the $50m loan they have hence the rights issue. The construction cost is obviously bleeding them.
knightbridge ( Date: 30-Oct-2008 18:11) Posted:
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This counter is ok de. The sales revenue is still strong. As for the property, the next run i predict when the casino are in full operation. And hope vegas sand casino do not default on loan currently. If not dun know when the market will pick up.
Got to hold 2 years looking at year 2010 to 2011 from current price $0.12 and sell at $0.24 later
My views only
Huge 225m rights shares issue at 10c.
Popular is popularly screwed...... by its property development. $80m sitting on its balance sheet.
Date & Time of Broadcast
30-Jun-2008 12:36:23
Popular’s FY2008 net profit after tax
rises to S$13.4 million
~ Net profit after tax up 18.3% year-on-year to $13.4 million, on the back of a 9.2% rise in revenue to S$435.0 million
~ Loyal shareholders rewarded with final dividend payout of 0.7 Singapore cents per share
The Edge No 277
Popular holding acquired former Seng Mansion at 1 Robin Road in May last year for $12.5 million. They target the launch date this Oct 07 called One Robin. It will be a 17-storey, 14-apartment project with units in the 2000 - 4000 sq ft range. The hike in development charge (DC) will have no impact on this project as it was acquired last year.
Its second site aquired is at 18 Shelford Road for $27.2 million. They will build a 19 unit Shelford project.
With the current red hot property market. These two projects will be able to command a good per sq ft pricing and thus profits.
To be honest the 4Q result is a very mundane thing, so not much of an impact here. What will drive the share price are these 3 things, viz. 1) may be announced together with the 4Q results while 2) & 3) are real gains in the pipeline yet to be booked.
1) Special Dividend (s.44 tax credit).
2) Prospective gains from no.1 Robin Road (17 storey Luxurious Residential units) and
3) Prospective gains from no. 18 Shelford Rd (Commercial cum residential.
Over the past years , 4th Q results always in the red, hope it is different this year . Vested.
It will be popular again tomorrow as no one is announcing any final results except them. Cheers for good results.
Hi tuntan8888,
Thanks for your invaluable info. Will wait for good news then. See if the stock becomes popular tomorrow. Cheong ah...........
Will comment on 4QResults to 30.4.07 when released tomorrow. Below is the previous 3Q07 nos.
NTA @ 31 Jan 07 (3Q) = 32.16c
EPS (9mth to 31.1.07) = 3.98c
Grossly under-valued stock, NTA @ 30/4 has not booked value appreciation of prime properties @ One Robin Rd (17-storey Luxurious Residential) & 18 Shelford Rd (Commercial + Residential). EPS for 9mth to 30/4 abt 4c already, i.e. PE multiple abt 7.5x. In addition there is chance of special div (S.44), 'cos of huge Revenue reserve = $100m while Share capital only $47m. Just wait for one more day -Announcement of 4Q results tomorrow.......Good luck to all.
Popular Holdings will announce their results tomorrow but the stock doesnt show much progress. Anybody has any idea if the results is good? Dont wish to see another stamford tyre.... sigh.
In April, Popular Land Pte Ltd (?PopLand?), a wholly-owned subsidiary of the
Company, had purchased ten residential units at 18 Shelford Road, Singapore at a total
consideration S$27.2 million.
Given the hefty rise in propety prices over the last two months, what do you think should be the market prices for these 10 units at shelford road?
results should be positive these thursday as their gp or Net profit is at quite a good % compare to others. expect it to move up soon by friday latest.
hi hulumas, wat makes u say tat ? i heard rumours abt popular but 0.42 ? it didnt move much today ..... (very curious abt ur perspective)
Dear Readers,
It seems soon Popular will reach Sgd. 0.42!!!
Money Mind, last night said share price at current business should be about $0.42 and additional $0.10 for the two property development as they bought the property at a low price.
Last night Money Mind.... quite impressed with the CEO business strategy. He was saying that since property is too good to be missed, they have 2 plot of land to be developed. Also they are competing with MPH and Times by setting up a English book store at Vivocity - Harris. Those vested should wait for good result.
Penny stock play...
Should be above Sgd.0.40.
Hi all,
can I know the target price?