ShareJunction - Member Posts

x 0

Didn?t you realise there was a lot of possible scooping the past few days? Methinks Price was pushed down, possibly to accumulate..

calvinlooi ( Date: 29-Nov-2017 14:30) Posted:

Just to discuss, I think the volume is fake one?

I think is own self to own self. That sell q had been there since very long time already...

x 0

Please try again, I don't need login to access

https://research.uobkayhian.com/content_download.jsp?id=42954&h=3461d99a30c72933c66cac4f1c02bd14

Goldfinger ( Date: 29-Nov-2017 14:25) Posted:

Can?t access as need log in.

Stanton ( Date: 29-Nov-2017 14:04) Posted:

Those interested to read the full report can go to this link.
https://research.uobkayhian.com/content_download.jsp?id=42954&h=3461d99a30c72933c66cac4f1c02bd14

x 0

Just to discuss, I think the volume is fake one?

I think is own self to own self. That sell q had been there since very long time already...

x 0

Can?t access as need log in.

Stanton ( Date: 29-Nov-2017 14:04) Posted:

Those interested to read the full report can go to this link.
https://research.uobkayhian.com/content_download.jsp?id=42954&h=3461d99a30c72933c66cac4f1c02bd14

x 0

Those interested to read the full report can go to this link.
https://research.uobkayhian.com/content_download.jsp?id=42954&h=3461d99a30c72933c66cac4f1c02bd14

x 0

div yield only 1.54% ...debt level also quite high ...debt to equity 1.2

x 1

x 0

Well - we all knew that stock Analysts were beginning to start covering this. So - the big TS rally has only just begun.

SmallSmall ( Date: 29-Nov-2017 09:40) Posted:

BUY
(Initiate Coverage)
Share Price S$0.415
Target Price S$0.71
Upside +71.9

By UOB Kay Hian

x 0

thank you

sunview ( Date: 29-Nov-2017 10:24) Posted:

Ride The Property Market With Prime Assets At Fire-sale Prices

Reputable developer TSH offers a unique opportunity to ride the property
upcycle with an enviable S$2.3b property portfolio, which includes prime
Singapore freehold properties and key Australia hotel assets, at fire-sale prices.
We see RNAV expansion and yield pick-up with redevelopment of 18 Robinson
completed and sale/monetization of non-core assets and property inventory
unlocking value. Initiate coverage at BUY and SOTP-based target price of S$0.71.

INVESTMENT HIGHLIGHTS

?h Initiate coverage with a BUY and SOTP-based target price of S$0.71, offering
71.9% upside. We conservatively estimate our RNAV at S$1.07/share, with
S$263.8m, S$1,613.9m and S$414.5m of development, investment and hotel
properties respectively and zero value on two non-profitable subsidiaries. At current
prices, property developer Tuan Sing Holdings (TSH) is trading at fire-sale levels of
61.2% discount to RNAV and 52% of book value.

?h Reputable property developer with multiple awards on corporate governance,
architecture and hospitality. Listed in 1973, TSH is reputable property developer
who has won multiple awards on corporate governance and transparency (Top 1.1%
on 2016 Singapore Governance & Transparency Index, Most Transparent Company
Award for Mainboard Small Caps SIAS 2016) as well as architecture and hospitality.

?h Enviable S$2.3b property portfolio. TSH boasts a property portfolio worth about
S$2.3b including Singapore properties in prime districts in Singapore such as
Robinsons Road/Upper Bukit Timah. On top of that, TSH has a portfolio of prime
freehold hospitality assets in Melbourne and Perth, Australia.

?h Riding property upcycle at fire-sale prices. With en-bloc fever marking the
beginning of Singapore&rsquo s property market upcycle and onset of a recovery in Grade A
office rental as pipeline supply eases significantly, TSH is well positioned and offers
investors an unique opportunity to ride the property upcycle at fire-sale prices.

?h Completion of 18 Robinson redevelopment in 2H18 to see book value gain and
yield pick-up Sime Darby to offer redevelopment potential. In 2H18,
redevelopment of 18 Robinson is expected to be completed. On top of revaluation
gain, this could add a stable stream of S$19.8m in annual rental income which could
result in a pick-up in current yield. Going forward, Sime Darby Centre offers further
redevelopment potential as the area gears towards being a healthcare medical hub.

?h Disposal of non-core assets and property inventory should unlock value in
excess of S$149.5m. TSH owns a 44.5% stake in Gul Technologies (which focuses
on in-demand rigid-flex PCBs, generating US$22.2m in net profit in 2016) and 80.2%
stake in SGX-listed SP Corporation. Management has indicated their openness to a
disposal of non-core assets which could unlock gains of up to S$116.7m. TSH could
also see further S$32.8m gains from the sale of its property inventory.

?h Fragrance CEO&rsquo s highest purchase price at S$0.455/share. Hotelier and property
magnate Mr Koh Wee Meng, founder and CEO of Fragrance Group, purchased a total
of 69,457,000 shares of TSH in the open market to bring his direct interest in the
company to 5.905%. His highest purchase price of TSH was at S$0.455/share. Given
Mr Koh&rsquo s respectable background in the hotel and property markets, investors should
ascribe significant value to TSH at current levels.

Foo2019 ( Date: 29-Nov-2017 10:13) Posted:

Is there a link that you can share with us? Thank

x 0

Ride The Property Market With Prime Assets At Fire-sale Prices

Reputable developer TSH offers a unique opportunity to ride the property
upcycle with an enviable S$2.3b property portfolio, which includes prime
Singapore freehold properties and key Australia hotel assets, at fire-sale prices.
We see RNAV expansion and yield pick-up with redevelopment of 18 Robinson
completed and sale/monetization of non-core assets and property inventory
unlocking value. Initiate coverage at BUY and SOTP-based target price of S$0.71.

INVESTMENT HIGHLIGHTS

?h Initiate coverage with a BUY and SOTP-based target price of S$0.71, offering
71.9% upside. We conservatively estimate our RNAV at S$1.07/share, with
S$263.8m, S$1,613.9m and S$414.5m of development, investment and hotel
properties respectively and zero value on two non-profitable subsidiaries. At current
prices, property developer Tuan Sing Holdings (TSH) is trading at fire-sale levels of
61.2% discount to RNAV and 52% of book value.

?h Reputable property developer with multiple awards on corporate governance,
architecture and hospitality. Listed in 1973, TSH is reputable property developer
who has won multiple awards on corporate governance and transparency (Top 1.1%
on 2016 Singapore Governance & Transparency Index, Most Transparent Company
Award for Mainboard Small Caps SIAS 2016) as well as architecture and hospitality.

?h Enviable S$2.3b property portfolio. TSH boasts a property portfolio worth about
S$2.3b including Singapore properties in prime districts in Singapore such as
Robinsons Road/Upper Bukit Timah. On top of that, TSH has a portfolio of prime
freehold hospitality assets in Melbourne and Perth, Australia.

?h Riding property upcycle at fire-sale prices. With en-bloc fever marking the
beginning of Singapore&rsquo s property market upcycle and onset of a recovery in Grade A
office rental as pipeline supply eases significantly, TSH is well positioned and offers
investors an unique opportunity to ride the property upcycle at fire-sale prices.

?h Completion of 18 Robinson redevelopment in 2H18 to see book value gain and
yield pick-up Sime Darby to offer redevelopment potential. In 2H18,
redevelopment of 18 Robinson is expected to be completed. On top of revaluation
gain, this could add a stable stream of S$19.8m in annual rental income which could
result in a pick-up in current yield. Going forward, Sime Darby Centre offers further
redevelopment potential as the area gears towards being a healthcare medical hub.

?h Disposal of non-core assets and property inventory should unlock value in
excess of S$149.5m. TSH owns a 44.5% stake in Gul Technologies (which focuses
on in-demand rigid-flex PCBs, generating US$22.2m in net profit in 2016) and 80.2%
stake in SGX-listed SP Corporation. Management has indicated their openness to a
disposal of non-core assets which could unlock gains of up to S$116.7m. TSH could
also see further S$32.8m gains from the sale of its property inventory.

?h Fragrance CEO&rsquo s highest purchase price at S$0.455/share. Hotelier and property
magnate Mr Koh Wee Meng, founder and CEO of Fragrance Group, purchased a total
of 69,457,000 shares of TSH in the open market to bring his direct interest in the
company to 5.905%. His highest purchase price of TSH was at S$0.455/share. Given
Mr Koh&rsquo s respectable background in the hotel and property markets, investors should
ascribe significant value to TSH at current levels.

Foo2019 ( Date: 29-Nov-2017 10:13) Posted:

Is there a link that you can share with us? Thanks

SmallSmall ( Date: 29-Nov-2017 09:40) Posted:

BUY
(Initiate Coverage)
Share Price S$0.415
Target Price S$0.71
Upside +71.9

By UOB Kay Hian

x 0

Is there a link that you can share with us? Thanks

SmallSmall ( Date: 29-Nov-2017 09:40) Posted:

BUY
(Initiate Coverage)
Share Price S$0.415
Target Price S$0.71
Upside +71.9

By UOB Kay Hian

x 0

BUY
(Initiate Coverage)
Share Price S$0.415
Target Price S$0.71
Upside +71.9

By UOB Kay Hian

x 0

Depends on whether you are buying a investor or trader. If you are trader, trying to read short term price movement has never been easy even for the so called seasoned golden stock buyers. If you are an investor and you believe you got your investment case for Tuan Sing correct, then just keep storage until fundamentals kick in (never fall in love with a stock forever). I doubt KWM is losing sleep or regreting over his purchase of TS.

rayoflight ( Date: 15-Nov-2017 18:54) Posted:

Very sad

In 2014 when koh wee meng bought in @0.43 to become a ssh

P/nav was 0.7x 0.43/0.6x

Now NAV increased to 0.777 yet share price still remained at 0.42 and P/NAV is a measly 0.55x

What is missing here?

x 0

Just wait - next year will be the golden year for Tuan Sing, I believe. I wouldn' t be so silly to sell now at these prices, when the completion of 18 Robinson and other initiatives on the residential and hotel developments, will bring much cheer.

rayoflight ( Date: 15-Nov-2017 18:54) Posted:

Very sad

In 2014 when koh wee meng bought in @0.43 to become a ssh

P/nav was 0.7x 0.43/0.6x

Now NAV increased to 0.777 yet share price still remained at 0.42 and P/NAV is a measly 0.55x

What is missing here?

x 0

Very sad

In 2014 when koh wee meng bought in @0.43 to become a ssh

P/nav was 0.7x 0.43/0.6x

Now NAV increased to 0.777 yet share price still remained at 0.42 and P/NAV is a measly 0.55x

What is missing here?

x 0

Yet again.. back to 420/425

For 1 mth..same pattern

x 0

Sellers queue significantly reduced...

x 0

430 1 mil shares went poof in 1 minute

x 0

Vested but I doubt there is any catalyst coming soon. Waiting for robinson tower next yr as the next major catalyst. Going to average down if it dips as i was got in at a relatively high price

x 0

Wait n wait

I smell something big coming

x 0

Thanks for the update!

Goldfinger ( Date: 08-Nov-2017 11:47) Posted:

Just passed 18 Robinson/Robinson Towers, and I think they are now built up to the 25th/26th floor. So its quite within reach to complete the entire building structure with 28 floors by end 2017. Looks like Q3 2018 completion of 18 Robinson is now within reach, and rental revenues can commence. A very memorable day once it opens - and I shall go down to the opening, as a proud minority. Yeah.