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ChipEngS - Low PE, High Yield and High NAV in One
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bishan22
Supreme |
23-Aug-2019 13:31
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Right issue. Avoid .😊
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ysh2006
Supreme |
23-Aug-2019 13:06
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70c broke long long ago....you buy boh...? CES no money already need $ for what? boss last year sold just below 30% now they want our $ back ?
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Starship
Supreme |
23-Aug-2019 00:43
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Chip Eng Seng proposes rights issue to raise S$96m for expansion THU, AUG 22, 2019 - 11:30 PM MAINBOARD-LISTED developer Chip Eng Seng on Thursday said that it plans to do a renounceable underwritten rights issue of about 156.5 million new shares at S$0.63 each, to raise net proceeds of about S$96.3 million for its expansion plans. This will be done on the basis of one rights share for every four existing shares in the company held by shareholders. Proceeds will be used to finance the possible expansion of its property development business in Singapore and overseas, as well as to fund possible strategic investments and acquisitions in the education segment of its business, which is in line with the group' s recent diversification into the education sector. Some money will also be used for the growth and operations of the group' s hospitality segment, as well as for general and working capital. In support of the rights issue, controlling shareholder Celine Tang (also the company' s chairman), her husband Gordon Tang, as well as group CEO Chia Lee Meng Raymond, have given irrevocable undertakings to subscribe for their portion of shares, which constitute about 31.51 per cent of the total number of rights shares. Mr and Mrs Tang have been granted approval by the Securities Industry Council of Singapore not to have to make a mandatory general offer, should their shareholding in the company rise above 30 per cent. Ms Tang has a direct and deemed interest of 29.73 per cent in the company. The price carries a 7.35 per cent discount to the closing price of S$0.68 per share on Aug 22, and a 5.97 per cent discount to the theoretical ex-rights price of S$0.67, assuming the completion of the rights issue, calculated based on the Aug 22 closing price. Chip Eng Seng said it has considered other fundraising options, including further bank borrowings and debt instruments from financial institutions or debt issuances under its S$750 million Multicurrency Debt Issuance Programme, but found a rights issue to be the most " suitable" . This is because its net debt-to-equity ratio is already about 1.8 times as at end-June 2019, and based on the three-year fixed rate notes issued in March 2019 under the programme, the cost of borrowing was 6 per cent per annum. " The cost of borrowing depends on market conditions and may be higher for borrowings of a longer tenor," it said. It has also calculated based on its last paid dividends and Aug 22 closing price, that the cost of equity would be cheaper at about 5.88 per cent per annum. Therefore, a rights issue would strengthen the group' s financial position by improving its balance sheet and capital base, while reducing its net gearing, the firm added. At the same time, it will give the group greater financial capacity and flexibility to capitalise on investment and expansion opportunities and allow it to respond to such opportunities quickly, it said. Chip Eng Seng will be seeking approval from shareholders in an extraordinary general meeting to be convened to vote on the issuance, among other things. United Overseas Bank has been appointed the manager and underwriter for the rights issue. https://www.businesstimes.com.sg/companies-markets/%C2%A0chip-eng-seng-proposes-rights-issue-to-raise-s96m-for-expansion |
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bishan22
Supreme |
02-Aug-2019 18:51
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70 broke...can jeep ... | ||||
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Starship
Supreme |
02-Aug-2019 18:40
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Chip Eng Seng to develop Hyatt Regency Hotel in Adelaide 2/08/2019, 5:55pm INGAPORE (Aug 2): Chip Eng Seng has announced that its newly-acquired property at 51 Pirie Street in Adelaide, Australia will be developed into a new Hyatt Regency. On July 2, Chip Eng Seng acquired the property at a price of A$14.5 million ($14.6 million), funded fully through internal resources. The 27-storey hotel will offer 295 rooms and facilities - including more than 8,000 sqft of event space, a Market Cafe, a Regency Club, swimming pool, fitness facilities and a rooftop bar. Construction of the hotel is expected to commence in early 2020, with operations slated to commence in early 2023. Chip Eng Seng says that the central location of the hotel in Adelaide&rsquo s central business district will allow guests easy access to major corporate and government offices, as well as shopping and dining ventures. https://www.theedgesingapore.com/news/companies-news/chip-eng-seng-develop-hyatt-regency-hotel-adelaide |
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johnng
Supreme |
30-Jul-2019 15:00
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chiong arh CHIPPEE | ||||
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Starship
Supreme |
04-Jul-2019 11:36
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The school will cater to students aged six to 11, and may also extend to a secondary school. The agreement will take effect from July 3, and will continue for an initial term up to the end of the 50th academic year, unless terminated or further extended by the parties, said Chip Eng Seng in a filing to the Singapore Exchange.........................  
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CELSupporter
Member |
04-Jul-2019 11:13
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https://sg.finance.yahoo.com/news/chip-eng-seng-agreement-uk-233804954.html CES start their Elementry Eduction. Now, they have the coverage till 11 years old. Now with their footprint in Singapore, Malaysia, China and HongKong, CES is building their education empire in a rapid way. We will probably see them growing their Revenue contribution to company and earning. Once the business is big enough, we would probably see the chance that listed as a seperate company/business. Don' t forget CES proposed to list their construction sector years ago. However, that didn' t realize. It was because the market of construction turn down and listed would not realize the true value to company. Today market has value CES differently. Cheers! |
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wehuattogether88
Supreme |
04-Jul-2019 09:18
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this stock not much movement with positive news, so will not move much, i guess.. | ||||
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Starship
Supreme |
03-Jul-2019 18:00
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COLLABORATION WITH THE PERSE SCHOOL CAMBRIDGE INTERNATIONAL TO SET UP AN ELEMENTARY SCHOOL IN SINGAPORE 1. INTRODUCTION The Board of Directors (" Board" ) of Chip Eng Seng Corporation Ltd (" Company" ) is pleased to announce that CES Cambridge Pte Ltd (" CESC" ), the Company' s wholly owned subsidiary, has today entered into an agreement (the " Agreement" ) with The Perse School Cambridge International Limited (" TPSCI" ). The Agreement relates to the establishment of an elementary school in Singapore (the " Elementary School" ), the ethos of which will reflect that of The Perse School. TPSCI is a wholly owned subsidiary of The Perse School, an independent school in Cambridge, United Kingdom. The Elementary School will cater to students aged 6 to 11, and may also extend to a secondary school. CESC aims to set up the Elementary School by early 2020. 2. PRINCIPAL TERMS OF THE AGREEMENT 2.1 Term and Termination. The Agreement will take effect from 3 July 2019, and will continue for an initial term up to the end of the 50th academic year, unless terminated or further extended by the parties. 2.2 Exclusivity. Subject to the terms of the Agreement, CESC and TPSCI have granted to each other a mutual exclusivity for 30 years not to establish and operate elementary schools in Singapore using a British brand. In the event the Elementary School is extended to a secondary school, the exclusivity shall apply to the secondary school. 3. INFORMATION ON THE PERSE SCHOOL The Perse School was founded in Cambridge, United Kingdom, in 1615 by Stephen Perse, M.D., a Fellow of Gonville and Caius College, Cambridge University. Today, The Perse School' s campuses remain located in Cambridge and comprise a pre-school (for children aged 3-7 years), a prep school (for students aged 7-11 years) and an upper school and sixth form (for students aged 11-18). The Perse School has an experienced Governing Board comprising Governors from diverse backgrounds. Three out of the 20 Governors of The Perse School are Fellows of colleges of Cambridge University. The Perse School is well-known for producing students with excellent academic results. In the last five years, 185 pupils from The Perse School have gained admission to Cambridge University and Oxford University, which are prestigious universities in the United Kingdom. Its distinguished alumni include Nobel Prize Winners Sir George Thomson and Ronald Norrish, literary critics F.R. Leavis and E.M.W. Tillyard, actors Marius Goring and Josef Behrmann, cartoonist Mel Calman, theatre director Sir Peter Hall, film-maker Humphrey Jennings, scientist and theologian The Revd Dr John Polkinghorne and aviation pioneer Sir Arthur Marshall. https://links.sgx.com/FileOpen/Perse%20-%20Announcement.ashx?App=Announcement& FileID=566907 |
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wehuattogether88
Supreme |
24-Jun-2019 10:59
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Look quiet and not much volume..
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wehuattogether88
Supreme |
24-Jun-2019 09:19
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Will there be a movement from this stock?
Looks quite stagnant. |
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Starship
Supreme |
14-Jun-2019 19:44
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Chip Eng Seng posts Q1 net profit of S$11.25m FRI, JUN 14, 2019 - 7:39 PM PROPERTY developer Chip Eng Seng on Friday posted a net profit of S$11.25 million for its first quarter ended March 31, up 83.8 per cent from S$6.12 million a year ago. Its revenue went up 34.2 per cent to S$267.27 million, mainly driven by contributions from the property developments and hospitality divisions. Earnings per share stood at 1.80 Singapore cents for the quarter, up 0.99 Singapore cent from a year ago. No dividend was declared for the quarter. In its outlook, Chip Eng Seng said that it will exercise caution in its price bids for new land parcels in Singapore, given the slowdown in property sales and the increasing supply. The group plans to launch the Changi Garden project (known as Parc Komo) for sale in 2Q2019. Similarly, the group said that it will exercise caution in its bids for new projects in Australia, as housing prices continue to decline. As for its construction segment, the group said that no contracts were secured in 1Q2019. With more works billed, the group' s total construction order book has slipped to S$388.8 million as at the end of 1Q2019 from S$425.5 million a quarter ago. The group expects competition for HDB construction contracts to remain keen. To diversify, it has tendered for public non-housing and civil engineering projects and will continue to tender for such projects when opportunities arise, it said. It expects growth in international visitor arrivals to underpin the performance of Park Hotel Alexandra, and projects that the performance for hotels outside Singapore to be stable. As for its education segment, the group' s 70 per cent-owned White Lodge completed its acquisition of 64.64 per cent stake of Invictus International School in April. With the addition of an elementary school to its stable of preschools, the group said that it is one step closer to providing a complete K12 education in Singapore. In the coming months, the group plans to extend Invictus International School' s services to provide middle-school education as well as explore opportunities in early education and preschool segments outside Singapore. https://www.businesstimes.com.sg/companies-markets/chip-eng-seng-posts-q1-net-profit-of-s1125m |
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Sgvale
Supreme |
10-Jun-2019 09:28
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Coming 0.76. Expansion of IR beneficiary | ||||
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CELSupporter
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06-Jun-2019 15:23
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https://www.ft.com/content/7476b26c-867f-11e9-a028-86cea8523dc2 Australia cut interest rate, one of the CEL bad selling project going to be benefited from this. |
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Starship
Supreme |
07-May-2019 00:58
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Chip Eng Seng nearly doubles Q1 profit, to S$11.3 million, on condo projects, hotels MON, MAY 06, 2019 - 9:40 PM MAINBOARD-LISTED real estate player Chip Eng Seng Corp nearly doubled its earnings in the first quarter, buoyed by the lynchpin property development business. Net profit came in at S$11.3 millon for the three months to March 31, up from S$6.12 million in the same period the previous year, according to financial results out on Monday. Revenue swelled by 34.2 per cent year on year, to S$267.3 million, driven by increased completion of the Grandeur Park Residences project in Tanah Merah, and Park Colonial in Woodleigh. Contributions from the hospitality division also rose on quarterly contributions from the Mercure and Ibis Styles Grosvenor Hotel in the South Australian state capital of Adelaide, acquired in March 2018. The Grand Park Kodhipparu Resort in the Maldives also posted revenue gains. The group&rsquo s hotels saw overall turnover grow by 19.7 per cent, to S$21.7 million. These two segments - development and hospitality - made up for a weaker performance by the construction segment, where turnover by fell 10.3 per cent to S$37.7 million, partly on lower revenue recognised from works that were finished in the second half of 2018. Meanwhile, revenue from the group&rsquo s property investments was stable year on year. Chip Eng Seng has also started to recognise turnover from its 70 per cent-owned White Lodge pre-school chain and Repton Schoolhouse - to the tune of S$1.75 million, which was not clocked in the year-ago period. The group said that it plans to expand into middle-school and higher-level education in Singapore, as well as explore early education opportunities abroad. The group &ldquo will exercise caution&rdquo in its bids for new projects in Australia, as well as in Singapore, where it flagged a slowdown in property sales amid growing supply, in its outlook statement. Its outstanding construction order book fell to S$388.8 million, down from S$425.5 million the previous quarter, as no new contracts were won. With competition for Housing Board contracts expected to stay keen, Chip Eng Seng will tender for other public projects when it can, it said. Earnings per share rose to 1.8 Singapore cents, from 0.99 Singapore cents previously. The group&rsquo s net asset value stood at 132.4 Singapore cents a share, against 130.56 Singapore cents as at Dec 31, 2018. No dividend was recommended, unchanged from the same period the previous year. https://www.businesstimes.com.sg/companies-markets/chip-eng-seng-nearly-doubles-q1-profit-to-s113-million-on-condo-projects-hotels |
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CELSupporter
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30-Apr-2019 13:51
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CES Changi Village project will be launching soon. The project named Parc Komo. Advertisement in Property guru now listed as price $1500 psf above. This is a pretty good profit price, compared with the cost of the en bloc is $888 psf. |
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CELSupporter
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25-Apr-2019 13:46
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read this https://www.channelnewsasia.com/news/singapore/singapore-listed-companies-not-transparent-enough-in-disclosing-9852772 | ||||
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CELSupporter
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25-Apr-2019 13:43
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frankly speaking, this is common for listed company, many of the company practise the same
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Jamesbond007
Veteran |
25-Apr-2019 13:23
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Personaaly, i would avoid this co. Theee are so many other better ones, n no big ? troubling me. give it a few more years n u will realise the answer. |
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