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HendriJB
Supreme |
20-Nov-2018 00:53
Yells: "Breathe, Step Back - Think " |
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MCL Land sells 329 units at Parc Esta, with average price of $1,680 psf
19 November 2018 MCL Land?s Parc Esta, the much-anticipated launch at Sims Avenue in Eunos, chalked up sales of 329 units on the first day of sales on Nov 17. This works out to 73% of 450 units released. The most popular unit types were the one- and two-bedroom units which range in size from 420 to 624 sq ft and 581 to 1,023 sq ft respectively. Average price of units sold was $1,680 psf ?We are happy with the encouraging sales from yesterday,? according to an MCL spokeswoman who declined to be named. Even though we knew we had a great project in terms of location ? in the city fringe, near an MRT station, and just one stop from Paya Lebar regional centre, we worked very hard to deliver a good product with high-specifications. People found it a value buy https://www.edgeprop.sg/property-news/mcl-land-sells-329-units-parc-esta-average-price-1680-psf |
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HendriJB
Supreme |
18-Nov-2018 01:17
Yells: "Breathe, Step Back - Think " |
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PropNex - 3Q18 Wind in Its Sails
Author: simonsg Publish date: Thu, 15 Nov 2018, 07:08 PM PropNex's 9M18 results came above our expectations, with net profit of S$17.6m (+47.2%) underpinned by growth in its salesforce to 7,626 agents (+14.1% ytd) as at 12 Nov 18 and improved agents? productivity PropNex is poised to ride on a bumper 2019 for its project marketing segment, amid an unprecedented heavy launch pipeline and unsold inventories Maintain BUY with an unchanged target price of S$0.65. 3q18 Results above expectations PropNex reported 3Q18 net profit of S$7.2m (+41.6% y-o-y), bringing 9M18 net profit to 83% of our full-year forecast. 3Q18 revenue grew 26% y-o-y to S$124.2m, due to increased commission income from agency services and project marketing services as a result of the group's 14.1% growth in its sales force and improved salespersons' productivity Constructive outlook on Singapore residential in 2019. For 9M18, private residential transaction volume was 18,279 units, seeing a marginal dip of -2.7% y-o-y In terms of private resale, management expects volumes to be supported by en-bloc owners (ie who are looking for immediate replacement homes For new sale units (ie non-landed private new sales) in 2019, management has guided for a range of about 9,000-10,000 units, with reference to an inherent demand of about 7,000-unit base (ie during the 2014-15 period HDB resale, which is traditionally more resilient, also saw 7,063 units transacted (ie the highest volume since 3Q10). Management expects positive growth in the public housing segment going into 2019 Strengthened its lead as the largest agency, with 7,626 sales persons as at 12 Nov 18 Since 1 Jan 18, PropNex has grown its agency salesforce by 14.1% (or 942 agents). During 10M18, PropNex attracted more than 10 team leaders, more than 600 experienced agents, and about 300 new agents Management attributed their growth in sales force and productivity to the group's robust training, development programmes and strong culture of sharing We believe that the agency business model continues to favour scale, which brings an extensive outreach to more home-buyers, investors, lessors/lessees, as well as a wider revenue base to spread its overheads Market leader in new launches, amid a strong pipeline. Ytd, PropNex has been involved in 29 new launches. Among them, 24 were new launches, and five were appointed after the initial launch. PropNex led in terms of the number of units, in 18 of the 24 new launches, against other joint marketing agencies. The six projects which PropNex did not lead were mostly smaller-scale high-end developments (eg Wallich Residences (181 units), 8 Hullet 44 units, and marginally lower by a few units compared with the leading agency. Another project is RiverCove Residences executive condominiums (EC) (628 units), which management attributed to them being appointed at a shorter notice. Upcoming launches 🚀 The next two launches that PropNex is involved in are Parc Esta (1,399 units) and Mayfair Modern (171 units), scheduled to launch on 17 Nov and 24 Nov 2018 respectively. In addition, PropNex has been appointed for another 24 new projects, with an inventory about 10,000 units to be launched in 2019. Additionally, there is a line-up of another 25 government land bids and collective sale sites (with no appointed agencies yet We believe PropNex is in a strong position to gain a majority of the appointments given its largest (7,626 sales persons as at 12 Nov 18) and more effective sales force Project marketing segment poised for a record 2019, .. on the back of aforementioned unsold inventory (ie from 29 launches ytd), launch pipeline (ie 20 appointed projects and 25 yet-to-be appointed sites), as well as a larger dedicated sales force (ie which has grown to 7,626 agents) for execution Going forward, management also guided that the new normal for a good take-up rate during the first-weekend launch should range between 20-25% (vs 40% pre-cooling measures) Good take-ups will be contingent not only on sensitive pricing and good locational attributes, but also the appointment of agencies (ie those with a large and effective network of agents) for good execution. Regional expansion on track PropNex continued to enlarge its regional reach by expanding to Ho Chi Minh City, Vietnam in Aug 18, and has about 100 agents there currently. The group also has presence in Indonesia (about 1,000 agents) across 19 offices, and about 200 agents in Malaysia across two offices Earnings Revision / Risk We retain our earnings estimates Valuation / Recommendation Maintain BUY and target price of S$0.65, based on DCF (9.75% required return, 0% terminal growth) and 2019F PE of 10x with reference to its closest comparable, APAC Realty (SGX:CLN) (predominantly Singapore-focused, and similar in terms of commission structure and operating segments). Share Price Catalyst Positive newsflow on new launches and take-ups. Source: UOB Kay Hian Research - 15 Nov 2018 |
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HendriJB
Supreme |
14-Nov-2018 17:28
Yells: "Breathe, Step Back - Think " |
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*PropNex 3Q Looks Good and Healthy*
Very strong insider buying 👍 👍 👍 CEO and founders bought at avg price 57-58 CEO daugther came in recently at 55 BB also came in big volume on fri at 55 Target 🎯 0.65, IPO price which NTUC bought UOB Kay Hian bought 3M of stock as they were the under writer
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HendriJB
Supreme |
14-Nov-2018 13:15
Yells: "Breathe, Step Back - Think " |
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OLD NEWS
*UOB-Kay Hian buys nearly S$3m in PropNex shares as stabilising managers of IPO* Jamie Lee JUL 6, 2018 08:39 PM UOB-Kay Hian bought 4.65 million shares in PropNex Ltd at between S$0.60 and S$0.635 per share on Friday as stabilising managers of the initial public offering (IPO), with shares of PropNex battered by Thursday's surprise property cooling measures The price range translates to a total purchase price of between S$2.79 million and S$2.95 million Shares of PropNex - Singapore's largest real estate agency - slumped 24.6 per cent on Friday after the government announced additional cooling measures on the property market. The stock closed on Friday at S$0.52, down 17 Singapore cents, on hefty trading. Some 27.3 million shares changed hands PropNex made its trading debut on SGX on Monday. Its IPO price was set at S$0.65 Today Below - time to buy? Of Course PROPNEX?S PROFIT AFTER TAX SURGES 42.4% TO $8.3 MILLION FOR 3Q 2018 − Singapore?s largest real estate agency grew 49.9% in total revenue to $348.5 million in 9M 2018 − Net profit increased 46.0% to $20.0 million for 9M 2018 − Salesforce in Singapore expanded 14.1% to 7,626-strong, up from 6,684 in January 2018 − Group extends regional footprint to Vietnam operational since August 2018 DYOR :) |
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HendriJB
Supreme |
14-Nov-2018 13:11
Yells: "Breathe, Step Back - Think " |
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Hahaha
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huathuat88888
Elite |
14-Nov-2018 12:39
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Why buy " agency stock " in which the " main assets " are the people ? If the top talents sold off + cash out their shares and restart another company say Pop Next , what can u do ? LOL AVOID . | ||||
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HendriJB
Supreme |
14-Nov-2018 12:21
Yells: "Breathe, Step Back - Think " |
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IPO $0.65
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HendriJB
Supreme |
14-Nov-2018 12:11
Yells: "Breathe, Step Back - Think " |
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*PropNex posts 42% rise in 3Q earnings to $7.2 mil on higher sales*
By Samantha Chiew 14/11/18, 11:48 am SINGAPORE (Nov 14): PropNex says that its 3Q18 earnings have increased by 41.6% to $7.21 million, compared to $5.09 million in 3Q17 This brings 9M18 earnings to $17.6 million, 47.2% higher than $11.9 million in 9M17 Revenue for the quarter was 26.0% higher at $124.2 million from $98.5 million last year, mainly due to the increase in commission income from agency services and the increase in commission income from project marketing services. 👍 👍 👍 👍 👍 The increase in commission income from both services were the result of the group growth in the sales force and improved salespersons? productivity Finance income surged to $267,000 from $32,000 a year ago, mainly due to an increase in overall fixed deposit and bank balances from net IPO proceeds Other income increased 15.8% y-o-y to $756,000, due to an increase in referral fee income, an increase in sponsorship income and an increase in training and seminar income. As at end Sept, the group?s cash and cash equivalents stood at $76.1 million Year to date, the group has been involved in 29 project launches On the outlook, the group expects demand for private residential market in 2019 to be similar to 2018, mainly attributable to the demand from en bloc owners who have collected their proceeds and are on the continued search for replacement homes Ismail Gafoor, co-founder, executive chairman and CEO of PropNex, says, Importantly, we remain confident in our growth strategies and intend to maintain a strong leadership position in our real estate brokerage services. As at 11.47am, shares in PropNex are trading 1.5cents or 2.75% higher at 56 cents. |
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HendriJB
Supreme |
13-Nov-2018 18:13
Yells: "Breathe, Step Back - Think " |
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Full Report 👉 PropNex Result
http://infopub.sgx.com/Apps?A=COW_CorpAnnouncement_Content&B=AnnouncementLast12Months&F=LLUQ7ZFC9FZOANST&H=316179e2eb2f25eae3ed4dedb877735c3588e43e6cb9def50ee97106312e2b0a
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HendriJB
Supreme |
13-Nov-2018 18:10
Yells: "Breathe, Step Back - Think " |
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PROPNEX?S PROFIT AFTER TAX SURGES 42.4% TO $8.3 MILLION FOR 3Q 2018
− Singapore?s largest real estate agency grew 49.9% in total revenue to $348.5 million in 9M 2018 − Net profit increased 46.0% to $20.0 million for 9M 2018 − Salesforce in Singapore expanded 14.1% to 7,626-strong, up from 6,684 in January 2018 − Group extends regional footprint to Vietnam operational since August 2018 👍 👍 👍 |
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HendriJB
Supreme |
13-Nov-2018 18:06
Yells: "Breathe, Step Back - Think " |
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APAC Realty kept at 'buy' by RHB on 3Q beat.
(Am sure Propnex will have profit too!) By: PC Lee 13/11/18, 12:37 pm SINGAPORE (Nov 13): RHB Research is maintaining APAC Realty at ?buy? given its slight 3Q beat, stock selldown after the latest round of cooling measures and healthy demand shown at recent launches. APAC Realty posts 19% rise in 3Q earnings to $6.5 mil on higher revenue ?We expect steady sales to continue as developers remain mindful of the high supply pipeline and stringent ABSD regulations would prompt them to focus on clearing inventory,? says analyst Vijay Natarajan in a Tuesday report. In 3Q18, APAC Realty?s gross margin improved to 12.9% from 11.8% in 1H18 which saw a large number of co-broking transactions. Going forward, gross margin should stabilise at 12-13%, according to RHB. In October 2018 APAC Realty announced the acquisition of agents from CBRE Realty Associates and HSR International Realtors. (With the cooling measures opening up a window for agency consolidation, we see the move as timely and will help to keep pace with larger rival, Propnex, in terms of agent count), says Natarajan. Post-cooling measures, launches have remained steady, says RHB, with more than 3,000 units being sold across 18 new launches since July as developers lowered pricing by 10-15% and with pent-up liquidity from en-bloc sales slushing around. As volumes, not pricing, are APAC Realty?s key driver, Natarajan says the impact of policy measures is mitigated. Looking ahead, ERA has secured a new launch pipeline of 27 projects, translating to 12,958 units. In the private resale market, Natarajan believes units held back for potential en bloc sale should be released back with the en-bloc cycle nearing its end and this should support resale volumes in 2019 Meanwhile, the HDB resale & rental market segment should not impacted by measures (Overall, we have modelled in a 10%/5% decline in primary volumes and 5%/2% decline in secondary volumes for 2018-2019) says Natarajan. RHB has a lower target price of 72 cents or 7.4 times FY18F earnings, a more than 20% discount to its closest peer Propnex which Natarajan thinks is ((unjustified)) Dividend yield at 8% also attractive Year to date, shares in APAC Realty are down 44% to 0.49 APAC REALTY 👍 👍 👍 PropNex will definitely showed their rainbow 🌈 colours. |
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guards80
Supreme |
13-Nov-2018 17:52
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result profit | ||||
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HendriJB
Supreme |
13-Nov-2018 12:12
Yells: "Breathe, Step Back - Think " |
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Round up specifications ? Positive start for sales of three private residential developments
City Developments had sold about 160 out of 240 units at its Whistler Grand condominium as at 5pm on Sunday. 91% of the buyers are Singaporeans and 9% are Singapore permanent residents and foreigners. Of the Singaporeans and PRs, 71% are first-time buyers. Prices for its weekend launch started from S $608,000 for one-bedroom, S$792,000 for two-bedroom, S$1.198m for three- bedroom, S$1.568m for four-bedroom and S$1.788m for five-bedroom, with an average selling price of S$1,380 psf. In addition, by the end of Saturday Roxy- Pacific had sold 40 out of 70 units released at Arena Residences following the launch last Friday, with selling prices averaging between $1,750 and $1,850 psf. A third development, Belgravia Green, developed by Tong Eng Group, had sold 27 out of 81 units launched as of Sunday. This development comprises 10 semi- detached houses being sold with an average price of S$3.8m, and 71 terrace houses at prices of between S$2.9m and S$3.2m for lift-equipped units and between S$2.65m and S$2.8m for units without a lift HDB resale price dips 0.2%MoM HDB resale prices dropped 0.2% MoM in Oct, according to SRX Property. Prices in Oct were down 14.3% from the peak in Apr 2013 and down 2.1% YoY. Resale prices in mature estates increased by 0.4% MoM, while those in non-mature estates dropped 0.6% MoM. By size, three-room and five-room units saw price increases of 0.8% MoM and 1.5% MoM, respectively, while four-room flats and executive flats fell 0.7% MoM and 2.2% MoM. In addition, 1,994 HDB resale flats were sold in Oct, versus 1,999 sales in Sep and 1,783 in Oct 2017. The overall transaction-over-x-value that measures whether buyers are overpaying or underpaying was negative S$1,000 in Oct, up S$100 from that in Sep. The TOX values for three-roomers, five-roomers and executive flats was negative S$1,500, negative S$2,000 and negative S$3,000 respectively, while that of four-room units was zero. Colliers expects 14% increase in CBD Grade A office rents Colliers International?s data shows that premium and Grade A office rental value in the CBD rose by 4.3% QoQ to S$9.2 psf per month in Q3, versus 2.6% QoQ in Q2. Colliers forecasts that the CBD Grade A rents will rise by 14% this year, the first double-digit annual growth since 2011 and the fastest pace of increase since 2010. In Q3, the vacancy rate for CBD Premium and Grade A office increased slightly by 0.1% to 5.6%, below the 10-year average of 6.2%. In addition, Colliers expects that with new supply completion averaging about 570,000 sq ft annually, 10 November 2018 Property The Realty Singapore in contrast to the large supply completion of about 2.16m sq ft in 2017, the supply pipeline will taper significantly over 2019-2021. Meanwhile, the volumes of office investment were lower in Q3 for smaller deal sizes transacted. The rolling 12- month volumes of office and mixed-used commercial transactions dropped by 28% QoQ to S$3.83m. The average imputed capital value of CBD Grade A office was S$2,401 psf, up 2.2% QoQ, and the implied yield ranged from 3.2% to 3.8% on average, remaining stable |
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HendriJB
Supreme |
12-Nov-2018 22:46
Yells: "Breathe, Step Back - Think " |
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https://www.edgeprop.sg/property-news/how-do-condo-sizes-impact-rental-yields?utm_term=Autofeed&utm_medium=article&utm_source=Facebook#Echobox=1541735409 | ||||
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HendriJB
Supreme |
12-Nov-2018 22:41
Yells: "Breathe, Step Back - Think " |
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Residential property outlook for 2019
[email protected] EdgeProp10 November 2018, With 2018 drawing to a close, Cushman & Wakefield Christine Li gives a snapshot of how next year could pan out. The private housing market may not be as gloomy as widely perceived. During the weekend of Nov 3 and 4 MCL Land?s preview of Parc Esta in Eunos drew more than 5,000 visitors. That weekend, two projects were launched and registered relatively healthy sales. Roxy Pacific Holdings sold 45 out of a total of 98 units at the freehold Arena Residences on Guillemard Lane. The average price of units sold was $1750 to $1850 psf. City Developments (CDL) sold 160 of the 240 units released at the 721-unit Whistler Grand on West Coast Vale, with units priced at an average of $1380 psf. |
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HendriJB
Supreme |
12-Nov-2018 19:44
Yells: "Breathe, Step Back - Think " |
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PropNex Result coming out end of November 2018 | ||||
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HendriJB
Supreme |
12-Nov-2018 19:43
Yells: "Breathe, Step Back - Think " |
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APAC Reality (ERA Agents) 3Q Result out.
APAC Realty: Posts Double-Digit Growth In Net Profit For 9M FY2018. 12 Nov 2018 | 6:00 PM Total revenue jumped 26.3% to S$342.1 million in 9M FY2018, mainly due to the increase in brokerage income from the resale and rental of properties, and new home sales. Net profit increased 11.8% to S$20.2 million in 9M FY2018 from S$18.0 million in 9M FY2017 Enlarged agency salesforce with nearly 450 agents joining ERA from CBRE and HSR Strong 43% market share of the private and HDB resale market in 9M FY2018. Clarity of growth with a pipeline of mandates for another 27 new project launches, totalling 12,958 units as at 12 November 2018... |
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Sgvale
Supreme |
12-Nov-2018 18:44
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Encouraging sales? Like no launch. Close & reopen next year is wise.
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HendriJB
Supreme |
12-Nov-2018 17:53
Yells: "Breathe, Step Back - Think " |
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About 60% of 50 units released at The Woodleigh Residences? sold on first weekend of sales
The weekend of Nov 10-11 saw about 60% of 50 units released sold at The Woodleigh Residences, according to a press statement released by Kajima-SPH, the joint venture between Japanese developer Kajima Development and Singapore Press Holdings (SPH). Average price of units sold is said to be above $2,000 psf ?Given the current challenging property market condition, we were encouraged by the response and released another 50 units,? commented Kazunori Ichihashi, project director of Kajima Development The sales gallery of The Woodleigh Residences will close from November 19, in preparation for the official launch in early 2019, according to Kajima-SPH. Soft-launch prices will still be offered to the public who are keen to make a purchase before 19 November 2018, adds Ichihashi The Woodleigh Residences has 667 units, with a good mix of two- to four-bedroom units with views of the Bidadari Park and the Alkaff Lake. The residential project contains 11 blocks of 11-storeys, and is linked to The Woodleigh Mall, the Woodleigh MRT station and the first underground air-conditioned bus interchange station An integrated development, The Woodleigh Residences ?is a good long-term investment home given its limited supply,? says Ichihashi. Along with its good design layout, Japanese craftsmanship, and views of the park and lake, we believe buyers will appreciate the premium attributes of this development |
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HendriJB
Supreme |
08-Nov-2018 13:45
Yells: "Breathe, Step Back - Think " |
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PropNex 3Q Result end of this month roughly, no annoucement of date yet it seems | ||||
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