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Joelton
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16-Aug-2021 09:57
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First Sponsor Group
Between Aug 4 and 11, First Sponsor Group First Sponsor: ADN -2.03% (FSGL) non-executive chairman Calvin Ho Han Leong increased his total interest in the company by 1,276,400 shares.
With a consideration of S$1.83 million, and average price of S$1.43 per share, the acquisitions increased both his direct and indirect interests in FSGL, with his total interest increasing from 46.63 per cent to 46.77 per cent.
These acquisitions followed Mr Ho' s acquisition of 4,039,518 shares at S$1.33 per share between May 18 and 19.
Appointed as the non-executive chairman of the company in April 2015, Mr Ho had served as the non-executive vice-chairman of the company since October 2007.
He has also been instrumental in assisting the group' s senior management in the conceptualisation and setting of the strategic direction and corporate values of the group.
He has accumulated extensive experience during his tenure as chief executive officer of Singapore-incorporated Tai Tak Estates (Tai Tak), having been involved in its businesses, including in plantations, listed and private equities, as well as property holding and development.
Between Aug 4 and 6, the FSGL alternate director to the non-executive chairman, Ho Han Khoon, acquired 195,000 shares of the listed company for a consideration of S$273,329. At S$1.40 per share, this increased his total interest in FSGL from 31.70 to 31.72 per cent.
Following on from FSGL issuing 5,434,680 new shares on Aug 12 pursuant to the exercise of warrants, Mr Calvin Ho and Mr Ho Han Khoon saw their total interests in FSGL reduced from 46.77 per cent to 46.63 per cent and 31.72 per cent to 31.61 per cent respectively.
Appointed as an alternate director to Mr Calvin Ho in May 2014, Mr Ho Han Khoon also holds the position of executive vice-president of Tai Tak, where he has the responsibility of overseeing the group' s overall business and financial strategy, investments and operations.
Following FSGL reporting half yearly results in 2020, Mr Ho Han Khoon made a similar acquisition of 195,000 shares, between July 23 and 28, for a consideration S$244,798 at S$1.26 per share.
On July 30, FSGL reported H1FY21 (ended June 30), net profit of S$69.0 million, which was up 18.7 per cent from S$58.1 million in H1FY20.
This in turn, followed on from 49.4 per cent year-on-year net profit growth in H1FY20.
Subsequently, in July, the group entered into a joint venture to subscribe for a 36 per cent equity stake in a project company that owns and will redevelop two adjacent plots of mixed-use development land in Humen, Dongguan.
The development land has a saleable gross floor area (GFA) of approximately 110,000 sq m, which comprises approximately 82,000 sq m of residential GFA and 28,000 sq m of commercial GFA.
The principal business activities of the group are property development, property holding and property financing.
This marked the group' s fourth property development acquisition in the Greater Bay Area for the year.
Property financing was the key contributor to the group' s revenue and profitability in FY20, delivering S$97.9 million in gross profit, accounting for 57 per cent of its FY20 total gross profit.
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PhillipTan
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16-Aug-2021 09:32
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Director and substantial shareholder transactions - First Sponsor GroupBetween Aug 4 and 11, First Sponsor Group First Sponsor: ADN -0.69% (FSGL) non-executive chairman Calvin Ho Han Leong increased his total interest in the company by 1,276,400 shares.With a consideration of S$1.83 million, and average price of S$1.43 per share, the acquisitions increased both his direct and indirect interests in FSGL, with his total interest increasing from 46.63 per cent to 46.77 per cent. These acquisitions followed Mr Ho' s acquisition of 4,039,518 shares at S$1.33 per share between May 18 and 19. Appointed as the non-executive chairman of the company in April 2015, Mr Ho had served as the non-executive vice-chairman of the company since October 2007. He has also been instrumental in assisting the group' s senior management in the conceptualisation and setting of the strategic direction and corporate values of the group. He has accumulated extensive experience during his tenure as chief executive officer of Singapore-incorporated Tai Tak Estates (Tai Tak), having been involved in its businesses, including in plantations, listed and private equities, as well as property holding and development. Between Aug 4 and 6, the FSGL alternate director to the non-executive chairman, Ho Han Khoon, acquired 195,000 shares of the listed company for a consideration of S$273,329. At S$1.40 per share, this increased his total interest in FSGL from 31.70 to 31.72 per cent. Following on from FSGL issuing 5,434,680 new shares on Aug 12 pursuant to the exercise of warrants, Mr Calvin Ho and Mr Ho Han Khoon saw their total interests in FSGL reduced from 46.77 per cent to 46.63 per cent and 31.72 per cent to 31.61 per cent respectively. Appointed as an alternate director to Mr Calvin Ho in May 2014, Mr Ho Han Khoon also holds the position of executive vice-president of Tai Tak, where he has the responsibility of overseeing the group' s overall business and financial strategy, investments and operations. Following FSGL reporting half yearly results in 2020, Mr Ho Han Khoon made a similar acquisition of 195,000 shares, between July 23 and 28, for a consideration S$244,798 at S$1.26 per share. On July 30, FSGL reported H1FY21 (ended June 30), net profit of S$69.0 million, which was up 18.7 per cent from S$58.1 million in H1FY20. This in turn, followed on from 49.4 per cent year-on-year net profit growth in H1FY20. Subsequently, in July, the group entered into a joint venture to subscribe for a 36 per cent equity stake in a project company that owns and will redevelop two adjacent plots of mixed-use development land in Humen, Dongguan. The development land has a saleable gross floor area (GFA) of approximately 110,000 sq m, which comprises approximately 82,000 sq m of residential GFA and 28,000 sq m of commercial GFA. The principal business activities of the group are property development, property holding and property financing. This marked the group' s fourth property development acquisition in the Greater Bay Area for the year. Property financing was the key contributor to the group' s revenue and profitability in FY20, delivering S$97.9 million in gross profit, accounting for 57 per cent of its FY20 total gross profit. |
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Joelton
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01-Aug-2021 22:38
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First Sponsor sees 18.7% earnings growth to $69 mil for 1H21, declares interim DPS of 1.1 cents
First Sponsor Group has reported earnings of $69 million for the 1HFY2021 ended June, up 18.7% y-o-y from $58.1 million.
Earnings per share (EPS), on a fully diluted basis, came in at 5.2 cents for the period, declining 1.3% y-o-y from 5.27 cents previously.
Revenue grew 50.5% y-o-y to $156.8 million, primarily driven by a $59 million increase in property development revenue on the back of the handover of SOHO loft units in Plot F of the Chengdu Millennium Waterfront project in 1H2021.
However, gross profit fell 15.2% y-o-y to $71.3 million, which First Sponsor attributes to the &ldquo significantly lower gross profit margin&rdquo on the SOHO loft units.
Despite the fall in gross profit, profit before tax grew 2% y-o-y to $68.5 million, driven mainly by a higher share of income from associates and a one-off gain from the divestment of Wan Li.
Lower tax expenses of $5.2 million for the 1HFY2021 (compared to $15.2 million in 1HFY2020), bumped profit after tax up 20.1% y-o-y to $68.5 million.
Cash and structured deposits stood at $294.7 million as at June 30, compared to $476.3 million the year before.
The board has approved a first interim tax-exempt (one-tier) cash dividend of 1.1 cents per share, unchanged from the same period the year before. &ldquo Subject to the successful implementation of the group&rsquo s business strategy and market conditions amidst the current uncertainties arising from the Covid-19 pandemic, the board will continue to work towards a stable dividend payout with a steady growth,&rdquo says Neo Teck Pheng, group CEO for First Sponsor.
In July, the Group entered into a joint venture to subscribe for a 36% equity stake in a project company that owns and will redevelop two adjacent plots of mixed-use development land in Humen, Dongguan with a saleable GFA of approximately 110,000 sqm which comprises approximately 82,000 sqm (75%) of residential GFA and 28,000 sqm (25%) of commercial GFA.
This marks the Group&rsquo s fourth property development acquisition in the Greater Bay Area for the year.
First Sponsor also highlighted the completion of the group&rsquo s 33-owned Terraced Tower project, its first residential development project in the Netherlands. The group intends to commence development of the Dreeftoren Amsterdam project, which encompasses 312 residential units with a lettable floor area of 20,300 sqm and office with a lettable floor area of 15,600 sqm and 1,600 sqm of commercial space in 4Q2021.
Preliminary discussions with the relevant authority have commenced regarding the redevelopment potential of Meerparc which is located in the Amsterdam CBD.
Looking ahead, the Group expects the performance of its European operating hotel portfolio to remain weak. In addition, hotel performance will be materially and adversely impacted if the Group&rsquo s European operating hotels are not eligible for the government subsidies or the government subsidies are no longer available in the future.
On the flip side, First Sponsor highlights that the Crowne Plaza Chengdu Wenjiang and Holiday Inn Express Chengdu Wenjiang Hotspring Hotel in the PRC have returned to a performance level similar to pre-Covid-19 times.
&ldquo Backed by a strong balance sheet, substantial potential equity infusion from the exercise of outstanding warrants and unutilised committed credit facilities, the group says it will continue to actively pursue opportunities to expand its footprint in the regions that it has an existing exposure,&rdquo says Neo.
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PhillipTan
Supreme |
31-Jul-2021 00:39
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First Sponsor sees 18.7% earnings growth to $69 mil for 1H21, declares interim DPS of 1.1 centsFirst Sponsor Group has reported earnings of $69 million for the 1HFY2021 ended June, up 18.7% y-o-y from $58.1 million.Earnings per share (EPS), on a fully diluted basis, came in at 5.2 cents for the period, declining 1.3% y-o-y from 5.27 cents previously. Revenue grew 50.5% y-o-y to $156.8 million, primarily driven by a $59 million increase in property development revenue on the back of the handover of SOHO loft units in Plot F of the Chengdu Millennium Waterfront project in 1H2021. However, gross profit fell 15.2% y-o-y to $71.3 million, which First Sponsor attributes to the " significantly lower gross profit margin" on the SOHO loft units. Despite the fall in gross profit, profit before tax grew 2% y-o-y to $68.5 million, driven mainly by a higher share of income from associates and a one-off gain from the divestment of Wan Li. Lower tax expenses of $5.2 million for the 1HFY2021 (compared to $15.2 million in 1HFY2020), bumped profit after tax up 20.1% y-o-y to $68.5 million. Cash and structured deposits stood at $294.7 million as at June 30, compared to $476.3 million the year before. The board has approved a first interim tax-exempt (one-tier) cash dividend of 1.1 cents per share, unchanged from the same period the year before. " Subject to the successful implementation of the group' s business strategy and market conditions amidst the current uncertainties arising from the Covid-19 pandemic, the board will continue to work towards a stable dividend payout with a steady growth," says Neo Teck Pheng, group CEO for First Sponsor. In July, the Group entered into a joint venture to subscribe for a 36% equity stake in a project company that owns and will redevelop two adjacent plots of mixed-use development land in Humen, Dongguan with a saleable GFA of approximately 110,000 sqm which comprises approximately 82,000 sqm (75%) of residential GFA and 28,000 sqm (25%) of commercial GFA. This marks the Group' s fourth property development acquisition in the Greater Bay Area for the year. First Sponsor also highlighted the completion of the group' s 33-owned Terraced Tower project, its first residential development project in the Netherlands. The group intends to commence development of the Dreeftoren Amsterdam project, which encompasses 312 residential units with a lettable floor area of 20,300 sqm and office with a lettable floor area of 15,600 sqm and 1,600 sqm of commercial space in 4Q2021. Preliminary discussions with the relevant authority have commenced regarding the redevelopment potential of Meerparc which is located in the Amsterdam CBD. Looking ahead, the Group expects the performance of its European operating hotel portfolio to remain weak. In addition, hotel performance will be materially and adversely impacted if the Group' s European operating hotels are not eligible for the government subsidies or the government subsidies are no longer available in the future. On the flip side, First Sponsor highlights that the Crowne Plaza Chengdu Wenjiang and Holiday Inn Express Chengdu Wenjiang Hotspring Hotel in the PRC have returned to a performance level similar to pre-Covid-19 times. " Backed by a strong balance sheet, substantial potential equity infusion from the exercise of outstanding warrants and unutilised committed credit facilities, the group says it will continue to actively pursue opportunities to expand its footprint in the regions that it has an existing exposure," says Neo. Shares in First Sponsor closed up 4 cents or 3.03% higher at $1.36. |
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Joelton
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24-May-2021 09:07
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First Sponsor Group
Between May 18 and 19, First Sponsor Group (FSGL) non-executive chairman Calvin Ho Han Leong acquired 4,039,518 shares of the company for a consideration of S$5,357,356. At an average price of S$1.33 per share, this increased his total interest in the property development, property holding and property financing company from 46.19 per cent to 46.63 per cent.
Appointed as the non-executive chairman of the company in April 2015, Mr Ho had served as the non-executive vice-chairman of the company since October 2007.
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rushhour4
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18-May-2021 22:21
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6 million volume today? what happened anyone know? | ||||||||||||||||||||||||
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Joelton
Supreme |
15-Mar-2021 09:13
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First Sponsor Group
Between March 5 and 8, First Sponsor Group non-executive chairman Calvin Ho Han Leong acquired 533,000 shares of the company for a consideration of S$752,883.
At an average price of S$1.41 per share, this increased his total interest in the property development, property holding and property financing company from 46.14 per cent to 46.20 per cent.
This followed Mr Ho' s acquisition of 496,900 shares at S$1.39 per share between Feb 6 and March 1.
Appointed as the non-executive chairman of the company in April 2015, Mr Ho had served as the non-executive vice-chairman of the company since October 2007.
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Joelton
Supreme |
08-Mar-2021 09:14
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First Sponsor Group
Between Feb 26 and March 1, First Sponsor Group (FSGL) non-executive chairman Calvin Ho Han Leong acquired 496,900 shares of the listed company for a consideration of S$680,011.
At an average price of S$1.39 per share, this increased his total interest in the property development, property holding and property financing company from 46.08 per cent to 46.14 per cent.
Appointed as the non-executive chairman of the company in April 2015, Mr Ho had served as the non-executive vice-chairman of the company since October 2007.
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Joelton
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11-Feb-2021 09:20
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First Sponsor Q4 profit plunges 92.7% proposes to acquire Guangzhou project
FIRST Sponsor Group on Wednesday posted a 92.7 per cent plunge in net profit to S$6.9 million for its fourth quarter ended Dec 31, 2020, from S$94.9 million a year ago.
This came as the mainboard-listed property developer saw its revenue slide 73.5 per cent on lower revenue from the sale of properties, rental income from investment properties, hotel operations and a decrease in revenue from property financing.
Earnings per share stood at 0.76 Singapore cent for the quarter, down 93.5 per cent from 11.75 cents a year ago, according to a bourse filing.
Revenue for Q4 stood at S$39.7 million, down 73.5 per cent from S$149.8 million a year ago. Revenue from the sale of properties saw the deepest plunge of 91.4 per cent to S$8.7 million, from S$101.5 million a year ago.
This was mainly due to the absence of revenue recognition of residential and commercial units from the Millennium Waterfront project in the current period as these have been handed over in the prior years.
For the full year ended Dec 31, 2020, net profit was down 38.3 per cent to S$103.2 million, from S$167.1 million a year ago. Revenue was down 36.1 per cent to S$203.9 million, from S$319.2 million.
First Sponsor has declared a second interim dividend of two Singapore cents for the full year, which will be paid on Feb 26 after the Feb 18 record date. The company paid an interim dividend of 1.1 cents on Oct 1, 2020 for the half year ended June 30, 2020.
Separately, First Sponsor said on Wednesday that it had entered into a conditional sale and purchase agreement to acquire a company with a full stake in a property development project in Panyu, Guangzhou. The group will pay 1.56 billion yuan (S$323.3 million) for the deal and expects to own a 95 per cent interest at completion.
This comes after the group in January acquired an 18 per cent economic interest in a property development project in Fenggang, Dongguan, in a bid to ride on the growth and prospects of the Greater Bay Area (GBA).
FS Dongguan No 6, wholly-owned by First Sponsor, will acquire Hong Kong-incorporated Double Wealthy Company - which owns the land use rights in respect of three development land parcels situated at Liangang Road, Shilou Town, Panyu District.
The Panyu District is located in the southern part of Guangzhou, adjacent to Dongguan and Foshan. It is also in the geographic centre of the Guangdong-Hong Kong-Macau GBA.
These land parcels have a saleable gross floor area of nearly 162,959 square metres (sq m), of which around 98 per cent and 2 per cent are for residential and commercial use respectively.
They will be developed as the third phase of an existing development project named Chuang&rsquo s Le Papillon. The first and second phases of Le Papillon - which are on adjacent land parcels - were completed in 2012 and 2015 respectively.
In addition to the land parcels, Double Wealthy Company owns one club house, 16 unsold villas and 382 unsold car park lots at Le Papillon&rsquo s first and second phase. The club house, 15 unsold villas and 368 of the unsold car park lots will be part of the proposed acquisition, First Sponsor said.
Another First Sponsor wholly-owned subsidiary has entered into a conditional sale and purchase agreement with the entity which owns a second club house and one car park lot at Le Papillon.
Prior to the completion of the proposed deal, a company owned by Shu Zhen - who oversees First Sponsor&rsquo s Dongguan operations - will acquire a 5 per cent stake in FS Dongguan No 6.
First Sponsor group chief executive Neo Teck Pheng said the group continues to be optimistic about the GBA and will actively pursue further opportunities in the region to capitalise on the positive outlook of the GBA development plan.
He noted that the group' s hospitality property holding business was hit hard by the Covid-19 pandemic - which saw temporary lockdowns, entry restrictions and border closures.
" The lacklustre performance of the hospitality sector is expected to continue in the near future, which will have a negative impact on the group' s profitability," he said.
However, sales of the group' s various Dongguan property development projects have to date been " very strong" .
As the roll-out of the vaccinations to the worldwide population gathers momentum, business activities across all sectors are expected to pick up, he added.
" The group will review its business investment strategy on an ongoing basis to ensure that it remains relevant in the post-Covid-19 new normal," Mr Neo said.
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Joelton
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31-Aug-2020 09:06
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First Sponsor Group
Between Aug 25 and 26, First Sponsor Group CEO and executive director, Neo Teck Pheng, acquired 12,000 shares of the listed company for a consideration of S$15,474, at an average price of S$1.29 per share. Mr Neo maintains a total interest of 38.71 per cent in First Sponsor Group. The majority of his deemed interest comes from his 80 per cent interest in First Sponsor Management Ltd.
He has overall responsibility for management, operations and growth of the group' s businesses, and he was previously a board member of various entities within Hong Leong Group Singapore.
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Joelton
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03-Aug-2020 09:22
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First Sponsor Group
Between July 27 and 28, First Sponsor Group (FSGL) non-executive chairman Calvin Ho Han Leong increased his deemed interest in the mixed property developer by 319,958 shares for a consideration of S$399,819. The average price per share of the acquisitions was S$1.25. This increased his deemed interest in FSGL from 45.99 per cent to 46.03 per cent.
Appointed as the non-executive chairman in April 2015, he was non-executive vice-chairman since October 2007. Mr Ho has also been instrumental in assisting the group' s senior management in the conceptualisation and setting of the strategic direction and corporate values of the group.
He has accumulated extensive experience during his CEO tenure of Singapore-incorporated Tai Tak Estates Sdn Bhd (Tai Tak), having been involved in its businesses, including in plantations, listed and private equities, and property holding and development.
Between July 23 and 28, FSGL alternate director to non-executive chairman, Ho Han Khoon, acquired 195,000 shares of the listed company for a consideration of S$244,798. At S$1.26 per share, this increased his total interest in FSGL from 36.08 to 36.11 per cent.
Appointed as an alternate director to Mr Calvin Ho in May 2014, he is also the executive vice-president of Tai Tak, where he is responsible for overseeing Tai Tak group' s overall business and financial strategy, investments and operations.
On July 23, FSGL reported that in its H1FY20 (ended June 30), the group achieved a net profit of S$58.1 million, a 49.4 per cent growth from H1FY19.
The board has approved an interim tax-exempt (one-tier) cash dividend of 1.1 Singapore cents per share for FY20, matching that of last year. The company will also undertake a one-for-four bonus issue of free warrants to reward shareholders for their continuing support and participation.
Each warrant is exercisable into one new share at the exercise price of S$1.08 at any time from the date falling six months from the date of listing of the warrants and ending on the date immediately preceding 8.5 years from the issue of the warrants.
The principal business activities of the group are property development, property holding and property financing.
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Joelton
Supreme |
24-Jul-2020 09:17
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First Sponsor' s H1 net profit jumps nearly 50% to S$58.1m
FIRST Sponsor Group on Thursday posted a 49.4 per cent rise in net profit to S$58.1 million for the six months ended June 30, from S$38.9 million a year ago.
The property group achieved a higher overall gross margin of 80.7 per cent in H1, compared to 69.2 per cent a year ago. It said this was due mainly to a change in sales mix, as the higher-yielding property financing business contributed a larger share of the total revenue in the current period.
In addition, carpark sales were recognised at a 100 per cent gross profit margin, since the carpark lots were carried at zero book costs, it added.
Earnings per share stood at 6.9 Singapore cents for the half year, up from 5.35 cents a year ago.
Revenue for H1 fell 16.5 per cent to S$104.1 million, from S$124.8 million a year ago. This was due to a decline in revenue from the sale of properties (S$28.6 million), hotel operations (S$13.2 million) and rental of investment properties (S$2.2 million).
The drop was partially offset by a S$23.3 million increase in revenue from property financing, First Sponsor said.
An interim cash dividend of 1.1 Singapore cents per share was declared for the half year, unchanged from a year ago. The dividend will be paid on Oct 1, after books close on Sept 17.
First Sponsor group chief executive officer Neo Teck Pheng said the company will undertake a one-for-four bonus issue of free warrants to " reward shareholders for their continuing support and participation" .
Each warrant is exercisable into one new share at S$1.08 each.
He said the group is " cautiously optimistic" that the Covid-19 pandemic may bring " new opportunities, whether during or in the aftermath of the crisis" .
" With a strong balance sheet, undrawn committed long-term debt facilities and potential equity infusion from the exercise of outstanding warrants as well as warrants to be issued pursuant to the aforesaid bonus issue, the group is well equipped financially to enable it to take advantage of such opportunities when they arise," Mr Neo added.
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Joelton
Supreme |
01-Jun-2020 10:08
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First Sponsor Group On May 26, First Sponsor Group lead independent director Yee Chia Hsing acquired 110,000 shares of the listed company for a consideration of S$122,846 at an average price of S$1.12 per share. This increased his direct interest in the property developer and owner, from 0.05 per cent to 0.06 per cent. Mr Yee was appointed as the lead independent director of the company on May 19, 2014. He is currently head, Catalist, of CIMB Bank Berhad, Singapore branch, a position he has held since early 2011. At CIMB Bank, he is responsible for the introduction, supervision and continuing sponsorship of Catalist companies. Mr Yee has more than 20 years of experience in the banking and finance industry. https://www.businesstimes.com.sg/companies-markets/new-substantial-shareholder-for-sin-heng-heavy-machinery |
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Joelton
Supreme |
29-Apr-2020 09:57
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First Sponsor Q1 profit rises 4.8% to S$24.9mTUE, APR 28, 2020 - 9:17 AMMAINBOARD-LISTED First Sponsor Group posted a 4.8 per cent rise in net profit to S$24.9 million for its first quarter ended March 31, 2020, from S$23.8 million a year ago. This comes as the property developer recorded a rise in revenue from property financing, according to its voluntary interim update on Tuesday. Earnings per share stood at 2.94 Singapore cents for the quarter, down from 3.43 cents a year ago. Revenue for Q1 rose 1.1 per cent to S$45.8 million, from S$45.3 million a year ago, driven mainly by revenue from property financing. Property financing revenue rose to S$26.7 million from S$23.5 million a year ago due to a one-off establishment fee from the provision of a A$370 million (S$339.2 million) construction facility to fund the redevelopment of City Tattersalls Club in Sydney. No dividend was declared for the quarter, unchanged from a year ago. First Sponsor said in its update that it successfully issued five-year S$100 million medium-term notes at a coupon rate of 3.29 per cent per annum during the quarter. The group completed the refinancing of its committed revolving credit facilities with two banks for a total amount of S$193.3 million in April 2020, with a higher gearing loan covenant which further extended the group' s debt maturity profile. First Sponsor said these committed bank lines with a less restrictive loan covenant, along with a strong balance sheet, will help the group weather the period of uncertainty amid the Covid-19 pandemic, and allow it to capitalise on good business opportunities when they arise. Operations were temporarily suspended for 13 out of the 16 hotels the group owns and operates. These include Holiday Inn Express Wenjiang Chengdu Hotel, Bilderberg Bellevue Hotel Dresden in Germany and the 11 hotels in the Dutch Bilderberg hotel portfolio. Crowne Plaza Chengdu Wenjiang Hotel, Hilton Rotterdam and Hampton by Hilton Utrecht Centraal Station remain open with low occupancy rates. First Sponsor said it would apply to the Dutch and German authorities under relevant wage subsidy programmes to mitigate operating losses of its Dutch and German hospitality operations respectively. The group said it has received requests for rental concessions from some tenants of its European property portfolio. It added different business plans have been adopted to help certain tenants, depending on previous business conduct and circumstances. On its outlook, the group said the full extent of the Covid-19 crisis' impact on its financial performance for the next few quarters - especially regarding its hospitality operations, cannot be determined at this junction. However, the group is " cautiously optimistic" that the novel coronavirus situation may also create new deal opportunities, whether during or in the aftermath of the crisis. The group said it may raise additional cash by tapping the debt and equity capital markets to allow it to take advantage of such opportunities when they arise. First Sponsor further disclosed that its proposed final dividend of 1.6 Singapore cents per share for fiscal 2019 will be tabled for approval by shareholders at the group' s annual general meeting on May 20. First Sponsor shares closed flat at S$1.12 on Monday. https://www.businesstimes.com.sg/companies-markets/first-sponsor-q1-profit-rises-48-to-s249m |
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Joelton
Supreme |
30-Mar-2020 09:26
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SGX grants time extensions for First Sponsor, Serrano to hold AGMsSUN, MAR 29, 2020 - 8:23 PM Property developer First Sponsor Group on Saturday said it has obtained permission from the Singapore Exchange Regulation (SGX RegCo) to postpone its annual general meeting (AGM) for its financial year ended Dec 2019, in light of stricter measures that limit gathering sizes to prevent the further spread of Covid-19. " The company sought the waiver (from complying with listing rules) as it is waiting for details as to the alternative arrangements to be put in place in relation to the manner of conduct of the AGM and it will require time to put in place such arrangements," it said in a notice filed to the exchange. It said that it will issue its annual report to its shareholders and the Singapore Exchange SecuritiesTrading by April 15. According to its indicative timeline, it seeks to issue its notice of AGM and letter to shareholders in relation to the proposed change of auditors and proxy forms by June 14, and will hold its AGM by June 30. Separately, Catalist-listed interior designer Serrano on Saturday said that SGX has granted a four-month time extension to April 30 for the company to submit its trading resumption proposal a two-month extension until April 30 to announce its full year unaudited financial results for FY19 and a two-month extension until June 30 to hold its FY19 AGM, among other things. https://www.businesstimes.com.sg/real-estate/sgx-grants-time-extensions-for-agms-to-first-sponsor-serrano |
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jack2906
Veteran |
27-Apr-2017 07:36
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pls buy more then~
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NextEvolution
Elite |
27-Apr-2017 07:26
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Good set of result just out. Price should move up | ||||||||||||||||||||||||
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waters
Senior |
11-Feb-2017 18:59
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Dear all, Singapore Exchange (SGX) mainboard-listed First Sponsor Group Limited (&ldquo First Sponsor&rdquo or the &ldquo Company&rdquo , and together with its subsidiaries and associated companies, the &ldquo Group&rdquo ), a mixed property developer and owner of commercial properties in the People&rsquo s Republic of China (the &ldquo PRC&rdquo ) and the Netherlands, and provider of property financing services in the PRC, today announced the Group&rsquo s unaudited financial results for 4Q2016 and FY2016.
RECORD NET PROFIT OF S$113.1 MILLION, AN INCREASE OF 67.9% OVER LAST YEAR
FINAL TAX-EXEMPT (ONE-TIER) DIVIDEND OF 1 SINGAPORE CENT PER SHARE, ADDING UP TO A TOTAL OF 2 SINGAPORE CENTS PER SHARE FOR FY2016, A 17.6% INCREASE FROM FY2015
Financial Highlights
· The Group has delivered a record net profit for FY2016. Net profit attributable to the equity holders of the Company is S$113.1 million (FY2015: S$67.4 million) which represents a year-on-year increase of 67.9%.
· The Board is recommending a final tax-exempt (one-tier) ordinary dividend of 1 Singapore cent per share, adding up to a total dividend for FY2016 of 2 Singapore cents per share which represents a 17.6% increase from FY2015. The Board will work towards a stable payout with a steady growth when appropriate, subject to the successful implementation of the Group&rsquo s business strategy and prevailing market conditions.
***
&ldquo We are pleased to report a record net profit of S$113.1 million for FY2016 which is an increase of 67.9% from FY2015.
The Group has realised a gain of approximately S$97.3 million in 4Q2016 through a dilution of its interest in the Star of East River project in Dongguan. This partial divestment has unlocked the capital gain of the Group&rsquo s investment in this project, thereby enabling the Group to recoup all its cash capital previously invested with a surplus cash return of approximately S$23.2 million and a remaining 30% equity stake in the project. Going forward, the Group will work with Vanke to realise the full potential value of this project for the benefit of all investors.
The Millennium Waterfront project recorded a 50% increase in residential sales with 1,486 residential units sold in FY2016 (FY2015: 994 residential units) out of which 606 residential units were sold in the last quarter of the year. Capitalising on this strong buying sentiment, the Group has soft launched 2 residential blocks in Plot D, the last and best residential plot in the project, in late December 2016. In addition, the Crowne Plaza Chengdu Wenjiang and Holiday Inn Express Chengdu Wenjiang Hotspring hotels with an aggregate of 608 rooms, have soft opened on 28 December 2016. The hotspring facilities will commence operations later in the year. The successful development of the two hotels is a significant addition to the property holding business of the Group.
In the Netherlands, through its 33% owned FSMC, the Group has secured the sale for 75% of the residential units by signing down a sales and purchase agreement with CBRE Global Investors. FSMC retains the right to sell the remaining 25% to individuals at a higher price within twelve months from delivery of the residential units, failing which CBRE Global Investors has agreed to purchase the remaining unsold units at a pre-determined price. The Group&rsquo s property development business is shaping up well as we look for more opportunities to expand our footprint beyond Rotterdam. Further to the acquisition of Dreeftoren in October 2016, the Group has purchased Oliphant, a vacant office property in late December 2016 for redevelopment purposes. The two properties are in close proximity to the Group&rsquo s Arena Towers hotels in Amsterdam Southeast, which is recently ranked as the second best office location in the Netherlands by JLL. The Group is exploring the possibility of adding residential apartments for sale in Dreeftoren and Oliphant. This would build up a strong business presence for the Group in Amsterdam Southeast.
On the property holding front, the Group has disposed the last two non-core Dutch properties, namely Blue Wings and Ooyevaarsnest, at an attractive 81% and 96% premium to cost respectively. The Group has also, amongst other lease extensions, concluded a lease extension negotiation with Van Doorne, the existing tenant of the Zuiderhof I property for another 7 years, thereby securing a stable long term recurring income. The Group will in addition embark on a capital expenditure program to enhance the quality and organically expand its existing Dutch property portfolio, including the Dreeftoren, Munthof and possibly Oliphant, all of which are located in Amsterdam.
With regards to the property financing business segment, for the second defaulted loan which comprises eight inter-related loans with an aggregate loan principal of RMB470 million, the court has completed the foreclosure auction for one of the loans with principal amounting to RMB70 million. The mortgaged property - two floors of prime office space in Guangzhou, were sold for approximately RMB128 million. The auction proceeds were more than sufficient to cover the loan principal and its related penalty interest. The excess auction proceeds will serve as additional security for the remaining loans due to the cross collateralization. Correspondingly, the Group has recognised penalty interest income relating to only this particular defaulted loan in 4Q2016. The revised loan to value ratio for the remaining loans is estimated to be approximately 22%. Favourable rulings were obtained for all of the remaining seven loans out of which six loans with loan principal amounting to RMB350 million in aggregate have just progressed to the court enforcement stage. The Group remains optimistic of the full recovery of all the defaulted loans, but will continue to adopt a conservative approach of only recognising penalty interest income from those defaulted loans upon successful auction of the loan collaterals.
With a strong balance sheet, the Group continues to be on a disciplined quest for investment opportunities in the Netherlands, PRC and other regions.&rdquo
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Please refer to the Group&rsquo s unaudited financial results announcement for 4Q2016/FY2016 and the investor presentation slides dated 7 February 2017 for a detailed review of the Group&rsquo s performance and prospects.
Please visit us on our Company&rsquo s website (www.1st-sponsor.com.sg) and let us know of any comments, suggestions or enquiries.
Thanks.
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waters
Senior |
11-Feb-2017 18:58
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PRESS RELEASE 7 February 2017 First Sponsor and Provast to develop 3 residential tower blocks in Amsterdam Southeast
First Sponsor Group Limited from Singapore is working together with Provast to develop three residential tower blocks with facilities in the heart of Amsterdam Southeast (also known as Amsterdam-Zuidoost), directly opposite the Amsterdam ArenA. ZZDP Architect will be responsible for the architecture design.
First Sponsor acquired the Dreeftoren and Oliphant office towers in October and December 2016 respectively, and is also the owner of the hotels in the Arena Towers in close proximity to the two office towers. Under the proposed project, First Sponsor and Provast will be using the land adjoining the Dreeftoren and Oliphant office towers to develop three residential tower blocks comprising a total of approximately 600 high-quality apartments and 2,000 square metres of auxiliary facilities. In addition, the existing Dreeftoren and Oliphant office buildings will be totally renovated by First Sponsor in collaboration with CBRE Development Services. Discussions with the city council are underway on the development project. Zuidoost is being developed at a fast pace. Besides offices, shops and facilities, a large number of homes will be built over the next few years. This is very much in keeping up with the city&rsquo s growth, and will give Zuidoost a huge boost in its transformation to becoming a truly vibrant place to have fun, live and work in.
Located in close proximity to the well-connected transportation hub at the Bijlmer ArenA station, the location offers quick access to the historical city centre and the South Axis (Zuidas) international business and residential district. It is also just a stone&rsquo s throw away from ArenA Boulevard which contains large retailers such as MediaMarket, Decathlon and Villa ArenA. Locals can also enjoy the extensive shopping opportunities offered by the Amsterdamse Poort shopping centre. In recent years, many older buildings have been replaced by low-rise and medium-rise apartment buildings. Through the combination of offices &ndash including the future headquarters of ING &ndash and auxiliary facilities, the area is rapidly turning into an extremely interesting part of Amsterdam.
Accessibility The Gooiseweg provides a good connection by car to and from the centre of Amsterdam. The A1, A2, A9 and A10 are only a few minutes&rsquo drive away. Zuidoost is also extremely accessible by public transport. The centre of Amsterdam can be reached within 15 minutes by metro. There are also several train stations nearby, with direct links to Schiphol and Utrecht.
Please visit us on our Company&rsquo s website (www.1st-sponsor.com.sg) and let us know of any comments, suggestions or enquiries.
Thanks.
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waters
Senior |
30-Nov-2016 18:57
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PRESS RELEASE 28 November 2016 FIRST SPONSOR AND PROVAST SELL 344-APARTMENT HIGH END RESIDENTIAL TOWER IN ROTTERDAM TO CBRE GLOBAL INVESTORS AN ASSOCIATE OF SINGAPORE' S FIRST SPONSOR GROUP LIMITED AND PROVAST REDEVELOP BOOMPJES 55-58 OFFICE COMPLEX TO CREATE 344 APARTMENTS. CBRE GLOBAL INVESTORS ACQUIRE 258 APARTMENTS, THE COMMERCIAL SPACES AND THE ASSOCIATED SPACES IN THE CAR PARK. OZ ARCHITECTS IS RESPONSIBLE FOR THE DESIGN. The remaining 86 apartments in the project will be sold to individual purchasers. The existing Boompjes office building is in a prominent location fronting onto the Maas River. The 12,000 m2 office complex is undergoing a transformation to create a landmark residential tower of 344 apartments, with a 1050 m2 street-level commercial plinth to accommodate catering and retail premises and a 210-space car park. Construction will start in the first quarter of 2017. The project has an expected sales value of around &euro 100 million. A diverse range of apartments aimed at a broad target group will be developed, taking modern, flexible city homes as the starting point. There will be truly spectacular views of the city and the Maas from the terraces, extending across the full breadth of the residential properties. At the base of the building will be facilities including a restaurant, also featuring terraces. Neo Teck Pheng, Group CEO at First Sponsor Group Limited: " We are happy to have this opportunity to work with CBRE Global Investors and Provast and to bring this redevelopment project to this phase at such speed. We look forward to a smooth delivery and further cooperation going forward." Anton Koomen, partner at Provast: " There' s a reason why Rotterdam has been named as Europe' s finest city. Rotterdam is hot. Of the four major cities in the Netherlands Rotterdam alone has managed to attract predominantly native newcomers. Projects like this are a perfect fit with the growing trend towards urbanisation." Paul Oremus, Fund Manager at CBRE Dutch Residential Fund, CBRE Global Investors: &ldquo We are very pleased with the acquisition of this project in Rotterdam. For the CBRE Dutch Residential Fund we are actively seeking acquisitions for both existing properties and new developments in the Randstad area. We want to optimize our portfolio and create an excellent return on investment for our investors.&rdquo Team First Sponsor/Provast was advised on this transaction by Loyens & Loeff and CBRE. CBRE Global Investors obtained legal advice from Houthoff Buruma. For media queries, please contact: Zhang, Jiarong, First Sponsor Group Limited&rsquo s communications contact, T (65) 6436 4920
Please visit us on our Company&rsquo s website (www.1st-sponsor.com.sg) and let us know of any comments, suggestions or enquiries.
FIRST SPONSOR GROUP LIMITED 63 Market Street, #06-03 Bank of Singapore Centre, Singapore 048942 Tel (65) 6436 4935/4920 | Fax (65) 6438 3170 Email: [email protected] Website: http://1st-sponsor.com.sg A member of Hong Leong Group, Singapore |
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