Lee Kim Tah   

Broad-based recovery

S'poregal,

Hi!  Will need your help to analyse this counter. Thank you.

 

The Lee family members have been buying up their own shares. Somehow, at closing time today at $0.595, weakness is detected.  Anyone knows when their results will be out?

 

The Centris, a JV between Lee Kim Tah, Guthrie and a German party, sold all of the 107 units released at a preview within 24 hours last Friday, and despite rasing price for another 100, half of which were also quickly snapped up.



The Centris is part of an integrated development comprising 610 residential units, a shopping mall connecting with Jurong Point and a bus interchange. Gross area is estimated at 1,262,900 sq ft. Total development costs, including land, are estimated at $770m. There's easy access to Boon Lay MRT station.



The Centris is coming up on a 33,523.8 sq. m site that the 3 parties put up the highest bid of $415m in Jun '05. The 50% interest of Lee Kim Tah and Guthrie is through Prime oint Realty, whle TMW PCCW GmbH of Germany owns the remaining 50%.



The good response to the Centris is significant in that it suggests the strong recovery of the high-end residential property market has at last started to filter into the mid-range / mass housing segment.



This stock could start to move.