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Good morning Singaporegal Master, many thanks for yr kind advice. God bless.
From TA perspective, I'll only consider a stock a good option if its daily trading volume has been consitently high over the past 6 months (at least). This one doesn't meet this criteria.
Appreciate if any Gurus and Seniors can advise on the TA of this counter. It looks interesting as it has been active these 2 days. Thanks.
The sale will yield a profit of $48.8m for Sing Hldgs, which expects to receive a cash flow of $81.1m which will help expand its property business.
Sing Holdings and Keppel Land, with Hong Lim Investments are selling their stake in Sing-Mas Investments, which owns about 98% of Ocean Towers, a commercial building in Shanghai, for $152.5m.
Sing Hldg develops property in S'pore and China. It's not a pure China play, unlike Sunshine.
yes, especially if China continues to raise interest rates, does not bode well for property development companies like Sing Holdings,
strange that it went up on Friday though, I had a target price of 40 cents in my IPO writeup at my blog on the basis that since Sunshine is trading at 0.9x RNAV/Price, then Sing Holdings should be trading at least at the valuation (which would be 36 cents)
My target price of 40 cents is based on 1.0x RNAV/Price including forecasted 2006 earnings.
http://kelongstocks.blogspot.com
It raised one of the smallest amounts among the IPOs. What can it do with only $12 mln? Valuation is too rich at FY04 PER of 22.73x.
Think it's going downhill from here.
How come everyone so quiet about this IPO?
From Reuters -
Shares of Sing Holdings, a Singapore-based property development and investment company, rose as much as 13.3 per cent to $0.34 in the first minutes of trade on Wednesday, compared to their issue price of $0.30.
The company, which has about $362 million worth of assets in Singapore and Shanghai, raised about $12 million in its initial public offering of 44 million new shares. Sing Holdings, which would have a market capitalisation of about $68 million based on the offer price, said proceeds from the IPO will be used for expansion, to repay loans and as working capital. -- REUTERS