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Wing Tai
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FearValueGreed
Master |
22-Aug-2015 21:45
Yells: "Long Term Timing X Capital = Well Deserved Payout" |
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Waiting for 50 cents.
Time is my friend |
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goldenpotato
Member |
21-Aug-2015 13:55
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I am not vested, but I would like to share with you guys here. http://www.channelnewsasia.com/news/business/wing-tai-plans-to-close/2048626.html |
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lglg666
Supreme |
21-Aug-2015 13:41
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Guessed it follows everything down too. Even banks also down badly. I'm vested too
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investshare
Supreme |
21-Aug-2015 13:39
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even lower price now. |
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Henry$$$
Veteran |
27-Dec-2014 09:17
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The Three Numbers That Underpin Wing Tai Holdings. http://www.fool.sg/2014/06/23/the-three-numbers-that-underpin-wing-tai-holdings/?source=s76yhocs0070001.It is right time to re-visit this company. Is it under value gems? |
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HugoLee
Member |
13-Nov-2014 19:22
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Hi! Just popping my head in here again to see if there are any news? Seems like property market in Singapore will continue downward trend into 2015. Will Wingtai do a fire sale soon to avoid QC tax? SINGAPORE: Slashing prices is not the best way to increase sales in the luxury home segment despite the current property climate, as developers risk tarnishing the brand image of their offerings, said Wing Tai Holdings chairman Cheng Wai Keung on Thursday (Aug 28). This is one of the reasons the company has not taken that option with its freehold Ardmore Park project, Le Nouvel Ardmore. Wing Tai has sold only three of the 43 units on offer but, under the Qualifying Certificate, it has until mid-2016 to sell all the units. &ldquo There is no point in lowering the price &hellip it&rsquo s almost like retail &mdash you don&rsquo t see the high-end, luxury products on a fire sale. If LVMH does that, it is destroying its brand. In the high-end segment, you&rsquo re selling a brand image not for utility. If it&rsquo s for utility, you can never sell at that kind of price,&rdquo said Mr Cheng. &ldquo We still have one-and-a-half years for Le Nouvel Ardmore. We will hold our price and wait until that time to make a decision.&rdquo Several developers have in the past months lowered prices of their projects to move units. One of them, MCL Land, cut prices of its Core Central Region project Hallmark Residences by about 10 per cent earlier this year. With residential property prices here likely to continue trending downwards because of a build-up in supply and an impending rise in interest rates, the company hopes to make further inroads in China and Malaysia &mdash the other markets it has a presence in. Wing Tai on Thursday announced that its net profit had plunged 48 per cent on-year to S$143.1 million in its fiscal fourth quarter ended June. Revenue was 42 per cent lower at S$179.8 million. For the entire financial year, revenue declined 40 per cent to S$803.4 million, while net profit fell 52 per cent to S$254.4 million. -TODAY/es |
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Kyoto2008
Elite |
30-Aug-2014 12:28
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The chart looks good on Wing Tai. Price has broken out of 20 MA and heading upwards in recovery mode. |
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basantd
Senior |
30-Aug-2014 11:59
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Blackrock is one of the most value seeking funds in the world. If Blackrock Fund Advisors & Blackrock UK both see value in Wing Tai, there must be something there besides short term results. Wing Tai is also well invested in the China, HK, Malaysia, besides the Singapore market in which also their projects will benefit with the new Thomson East Coast line. Vanguard, the only fund which Warren Buffett has given his thumbs up for, also has a stake in Wing Tai. Furthermore, the CEO is now Second-in-charge in Temasek. |
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moneyplant
Master |
29-Aug-2014 20:16
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http://www.propertyguru.com.sg/property-management-news/2014/8/61631/wing-tai-posts-42-drop-in-revenue |
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basantd
Senior |
29-Aug-2014 17:27
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While most of Wing Tai' s peers trade at an average premium of 30% on net tangible assets, Wing Tai is 100% undervalued and trading at only 3.7 times earnings. The CEO and majority owner is one the most able managers in the country, and has recently been appointed to be deputy Chairman of Temasek Holdings, Singapore Governments Investment arm. Institutional investors include: Ell Capital Management Inc BlackRock Fund Advisors Fidelity Emerging Asia Dimensional Fund Advisors The Vanguard Group |
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andante
Member |
12-Aug-2014 09:24
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why the sudden drop in this counter ? |
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shygiraffe
Member |
06-Aug-2014 09:55
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Anyone knows its reporting? |
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papayaface
Supreme |
18-Jul-2014 08:55
Yells: "This is the best time to enter....when everythings uncertain" |
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When the company make big bucks over the past 3-5 years for him and his family, he didnt even utter a thank the government. Now KPKB for what? Easy way out is to price down the unsold units .... the most, lose a few millions which is peanuts compared to the hundreds of millions made from the public before. Better be careful to buy this share as it seems over valued and i wonder how much QC charges it would be paying soon. DYODD. Good luck.
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shygiraffe
Member |
18-Jul-2014 08:47
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NAV-$3.62, PE-2.9, I suspect stock is deeply under-valued |
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WanSiTong
Supreme |
18-Jul-2014 06:26
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Published July 18, 2014
Delisting not on the cards for Wing Tai
Chairman says the group wouldn' t go that way to avoid QC rules, calls for the rules to be lifted
 Nouvel 18 (above) and Le Nouvel Ardmore: The projects must be sold by 2016 deadlines. - PHOTO: YEN MENG JIIN WING Tai Holdings will not be doing an SC Global. It won' t take the delisting route, declares chairman Cheng Wai Keung, as a way out from rules requiring the company to dispose of all units in its high-end residential projects here within two years of completion. He also called on the authorities to lift this condition, which is stipulated under the Qualifying Certificate (QC) that foreign housing developers need to obtain when they buy a residential site from private-sector sources. After all, the government has given such reprieve to developers in the past amid external shocks that rocked Singapore' s property market, he argued. The Cheng family owns slightly more than 50 per cent of mainboard-listed Wing Tai which, like many other developers, is stuck with unsold units in high-end residential projects developed on sites bought at high prices before the 2008 global crisis. Wing Tai has sold only three of the 43 units at Le Nouvel Ardmore. The freehold project received Temporary Occupation Permit |
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WanSiTong
Supreme |
24-Jun-2014 15:31
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The Three Numbers That Underpin Wing Tai HoldingsJune 23, 2014 If there is one type of industry that Singapore does not have a shortage of, it is property developers. It also seems that every man who owns a business &ndash if they aren&rsquo t already a property developer &ndash wants to be a property developer one day.
Wing Tai Holdings started life in 1955 in Hong Kong as a garment factory. It still has connections with garments today but its main focus is property development in Singapore, Malaysia, Hong Kong and China. Around 80% of the company&rsquo s revenues come from property development, while the remainder is generated from investments and retail. Wing Tai Holdings boasts one of the highest Returns on Equity (RoE) in the market. At 19%, it is more than twice the returns generated by Singapore&rsquo s blue chips. The median RoE for the 30 companies that make up the Straits Times Index is around 8.5%. The main contributor of Wing Tai&rsquo s extraordinarily high RoE stems from its outstanding Net Income Margin. At 39.5%, the company generates more bottom-line profit for every dollar of sales than peers City Development and CapitaLand. However, it is lags Hongkong Land, which generates around S$68 of profit for every S$100 of sales. Wing Tai only produces 30 cents of sales for every dollar of asset employed in the business. That is not too surprising given the asset-intensive nature of property development. That said, Wing Tai&rsquo s Asset Turnover is better than that of City Development, CapitaLand and Hongkong Land. Wing Tai doesn&rsquo t employ a great deal of leverage, though it does have borrowings. It has total liabilities of around S$1.7b and total assets of roughly S$4.7b. This equates to a Leverage Ratio of 1.6, which is par for the course for Singapore companies. By dismantling Wing Tai&rsquo s Return on Equity, it is easy to see what exactly underpins the company. Its RoE of 19% is the product of an outstanding Net Income Margin of 39% a modest Asset Turnover of 0.3 and a bearable Leverage Ratio of 1.6. |
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shygiraffe
Member |
20-Jun-2014 08:32
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FY results soon..... |
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HugoLee
Member |
18-Jun-2014 19:30
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I got out already. It was a good ride. $$$ I suspect property will face difficulty in growth for the short term. Good luck to all. |
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shygiraffe
Member |
18-Jun-2014 16:39
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got life... 2.00 today |
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guoyanyunyan
Supreme |
08-May-2014 07:17
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Wing Tai - Weak residential sales Target S$2.00 (Stock Rating: HOLD) Wing Tai reported 3QFY14 core net profit of S$39m, down 59% yoy and 20% qoq. This was slightly below our expectations, with 3Q/9M forming 20%/59% of our full-year forecast, as weak residential sales continue to be a drag on earnings. While mass market projects Tembusu and Foresque Residences should help to underpin its development earnings in FY14-16, its high-end projects in Singapore (~23% of GAV) remains the weak spot. Despite its cheap valuations and low gearing, we believe there are limited re-rating catalysts at the moment. Maintain Hold, with higher RNAV-based target price (discount: 30%) as we update rent and cost estimates for the China project. FY14-16 EPS drops by 5-16% as we push back our high-end residential sales estimates. Mass-market projects supportive 9M operating profit was 50% lower yoy, largely due to lower contributions from development properties. We believe Wing Tai' s Singapore mass market projects, estimated at 15% of GAV, will continue to support its earnings in FY15-16. The Tembusu and Foresque Residences are 80% and 96% sold, respectively, and should bring in c.S$180m of after-tax profit over the next two years. The Crest, expected to be launched this year, should book a 14% PBT margin given our estimation of S$1,700 psf selling price and S$1,490 psf breakeven cost. The weak spot: high-end residential Singapore high-end projects, estimated to account for 23% of its GAV, continue to be Wing Tai' s weak spot. Le Nouvel Ardmore and Nouvel 18, 7% and 0% sold, respectively, may face extension premium in 2016 should the units remain unsold. Coupled that with the unsold high-end inventory and weak investment demand within the Singapore residential market, its high-end exposure is likely to remain a drag on earnings. Maintain Hold Wing Tai remains cheap at 31% discount to RNAV and 0.53x FY14 P/BV. However, we believe there are limited re-rating catalysts at the moment while its high-end exposure presents additional risks. Maintain Hold as we await a more meaningful catalyst. Source: CIMB Daybreak ...last:$1.96... |
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