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Tuan Sing
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Multi-year bullish reversal ?
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yipyip
Master |
04-Nov-2008 23:39
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November 4, 2008, BT Tuan Sing's Q3 sinks 94% on exceptional loss Tuan Sing Group on Tuesday reported that its net profit for the third quarter ended September 30, 2008 sank 94 per cent compared to a year ago to S$814,000. Earnings per share (EPS) was 0.1 cent for 3Q2008 as compared to 1.3 cents for 3Q2007. This was because its results was dragged down by its share of S$6.9 million from an exceptional loss in its jointly-controlled company in Australia, the Grand Hotel Group (GHG). GHG had marked down to zero market value the interest hedge instrument it entered into last year. Revenue for the quarter slipped 1 per cent to S$80.33 million. Tuan Sing also confirmed that it had, in accordance with the sales agreements, billed to and received from buyers of up to 60 per cent of the sales value of its Botanika Project. In view of this relatively high proportion of the sales values having been paid, no major default on future payments by buyers is expected. The Botanika Project is expected to receive its Temporary Occupation Permit in November. Overall, the group said it would not achieve the same level of profit as in last year, but expects to deliver satisfactory results at the operating level barring unforeseen circumstances. |
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Luostock
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10-Aug-2008 17:27
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The Group's total profit after tax was 151.8 million in 2007, up from $79.8 million in 2006. The record profits have resulted in earnings per share rising to 13.3 cts from 6.9 cts and the net asset backing per share rising to 38.4 cts from 22.5 cts. Such a good report, why is the share languishes at 20+ cts ? Can anyone throw some light on this ? |
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Luostock
Senior |
30-Jun-2008 22:36
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SUCCESSFUL BID FOR KATONG MALL Singapore, 30 June 2008 Prior to the collective sale, Golden Cape owned approximately 72% of the total strata floor area of Katong Mall. With the successful bid, the Company will have full ownership of Katong Mall, which is situated in a historically vibrant part of East Coast. Golden Cape has indicated that they are pleased to invest in Katong Mall, which is well positioned to serve the needs of East Coast residents for years to come. In addition, it intends to upgrade and create a stronger identity for the mall, and also to find an ideal tenant mix that would realise the full potential of the mall. Katong Mall is situated at 112 East Coast Road, is a 4-storey building with 3 basement levels comprising car parks on the 2 – Golden Cape Investments Ltd (“Golden Cape”), a wholly owned subsidiary of main board-listed Tuan Sing Holdings Limited, has been successful in its tender for Katong Mall in the first full retail collective sale site in Singapore. Golden Cape bid $219 million for the 99-year leasehold property. With a gross floor area of 281,369 sq ft, this translates into $778 per sq ft per plot ratio for the retail mall along East Coast Road.nd and 3rd level basement; shops on the 1st and 2nd level basements; and shops and exhibition halls on the remaining floors.About Tuan Sing Holdings Limited Tuan Sing Holdings Limited was established in 1969 and listed on the Singapore Stock Exchange in 1973. The primary business activities of Tuan Sing, its subsidiaries and related companies (collectively the Tuan Sing Group) are property, investment in hotel properties, industrial services and retail. The Group’s Property segment focuses on investment and development of prime residential, commercial, industrial properties in Singapore and China. The Group’s Investment in Hotel Properties is represented by Grand Hotel Group in Australia, which owns four 5-star Hyatt hotels in Melbourne, Perth, Adelaide and Canberra. The Group’s Industrial Services segment is mostly carried out by its 80.2%-owned listed subsidiary, SP Corporation Limited, with its core businesses in Auto Related Products Distribution, Commodities Trading, and Geotechnical and Soil Investigation. The Retail segment consists of TS Planet Sports Pte Ltd, which holds a 60% stake in the Pan-West Group of companies, which is in the business of distributing, retailing and marketing of golf and golf-related lifestyle products in the region. The Group also owns 43.33% interest in an associate, publicly listed Gul Technologies Singapore Ltd, a printed circuit board manufacturer with operations in Singapore and China. |
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Goldfinger
Member |
02-Jun-2008 10:03
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I thought this was a good development, ie swapping its loans to GulTech for a stake in hard property assets from TS' controlling shareholders which can be realised into cash eventually. I think TS will retain its stake in GulTech too?? Anyone else has views? Vested. Business Times - 02 Jun 2008 Tuan Sing seeks stake in Katong Mall By ARTHUR SIM TUAN Sing Holdings, which is looking to divest its hotel assets, is seeking a stake in Katong Mall, which was put up for collective sale last week. In a statement released over the weekend, Tuan Sing said that it is looking to dispose of $107 million in loans it had extended to its associate Gul Technologies Singapore (Gul Tech) through an asset swap with the controlling shareholders of Tuan Sing for certain strata units in Katong Mall. The asset swap will involve 129 strata shop units at Katong Mall with an aggregate purchase consideration of about $63.1 million. This was arrived at based on the aggregate value of the properties of $130.1 million, representing 70 per cent of the open market value of Katong Mall, but less outstanding borrowings of $66 million and rental deposits and advance rental of about $1 million, which will be retained by the vendors. The purchase consideration will be satisfied by Tuan Sing and certain of its subsidiaries novating the Gul Tech loans in favour of the vendors of the Katong Mall units, which are companies under the controlling shareholders of Tuan Sing. This is subject to a $44 million loan waiver by the controlling shareholders. Tuan Sing said that the proposed assets swap would be beneficial as it allows the company to secure a 'realistic and tangible recovery of the loans, albeit that Tuan Sing would have to recognise a partial write-down of the loans'. It will also transform Gul Tech's equity from a negative to a positive net asset position with the controlling shareholders waiving about $44 million of the loans. Tuan Sing said that it had already made provisions for the loans in prior years, and estimated that the net effect of the partial writedown on equity is about $0.7 million. The company also said that it planned to dispose of its 50 per cent held hotel assets worth about A$615 million (S$799 million) to third parties as and when opportunities arise. Tuan Sing will hold two separate extraordinary general meetings on June 16, 2008, to seek shareholders' mandate for the two transactions. Copyright © 2007 Singapore Press Holdings Ltd. All rights reserved. |
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cathylmg
Elite |
14-May-2008 12:16
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Chart looks beautiful but no volume. Wonder it will come back.... |
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terencefok
Master |
07-May-2008 09:36
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Here is the results presentation slides. http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_2A3530B517B7623E482574410035AB47/$file/TBA-080506-1Q2008ResultsPresentationfinalclean.pdf?openelement |
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yipyip
Master |
06-May-2008 22:50
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1Q08 FS income $65,167,000 (drop 19% vs 1Q07) profit $6,099,00 (nm vs -$4,022,000 on 1Q07) |
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terencefok
Master |
06-May-2008 19:08
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Reversed a loss of 0.4 cents in Q1 07 to a profit of 0.5 cents in Q1 08. NAV also increased a little to about 39 cents. First quarter results exclude those from their 80.2% listed subsidiary SP Corp, as it is not publishing Q1. |
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cathylmg
Elite |
06-May-2008 17:32
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Any news yet? |
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cathylmg
Elite |
06-May-2008 15:15
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I don't have good feelings for this one. All sell down. |
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terencefok
Master |
06-May-2008 09:42
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Q1 results will be out today. Will update later. From technical viewpoint, Tuan Sing is bullish with an uptrend, if you know how to see the charts properly. Its simply beautiful. Sorry, do not know how to post chart here. Maybe others can help. Tks |
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terencefok
Master |
21-Apr-2008 10:43
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Tuan Sing has plans to sell some hotels in Australia, EPS could increase by 3.3 cents if the sale goes through. Vested. |
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Ah_Ken
Member |
02-Apr-2008 14:40
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Moving again...huat arh |
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terencefok
Master |
19-Feb-2008 20:49
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Huat arh!!!!! |
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BullRun
Elite |
19-Feb-2008 20:27
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Getting stronger....good sign!! |
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Ah_Ken
Member |
11-Feb-2008 11:25
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Agree. PE so cheap, only about 2x........ Chiong arh!!!!!!!!!!!!!!!!!!!! |
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terencefok
Master |
11-Feb-2008 09:01
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Cheap one here... |
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Manikamaniho
Senior |
10-Feb-2008 17:51
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This one showed it can still "Cheong" in such market bad conditions... 
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terencefok
Master |
10-Feb-2008 17:46
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Watch this stock tomorrow, candlestick charts look good. |
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BullRun
Elite |
10-Feb-2008 11:42
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woh........wonderful!!! |
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