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Goodland Group
On Sep 27, Goodland Group : 5PC +1.83% executive director Melanie Tan acquired 124,500 shares at S$0.103 per share. This increased her direct interest from 6.11 per cent to 6.14 per cent. She also maintains a 74.21 per cent deemed interest, bringing her total interest to 80.35 per cent. This also increased the total interest of chairman Ben Tan and managing director and CEO Alvin Tan.
Melanie Tan has an accounting background and first joined the group as financial controller in 1995. She was appointed executive director in August 2009. She oversees the group&rsquo s strategic investments, acquisitions, and finances, including the company&rsquo s initial public offering. She also manages human resources and administration, and drives service innovation within the group.
The group holds a diverse portfolio of investment properties and land banks in Singapore, Malaysia and Cambodia.
Goodland Group
Between Sep 19 and 24, Goodland Group : 5PC +4.81% managing director and CEO Dr Alvin Tan&rsquo s total interest increased from 80.22 per cent to 80.32 per cent. Dr Tan acquired 189,000 shares at S$0.106 per share on Sep 19. His sibling, Tan Bee Bee, acquired 100,400 shares at S$0.102 per share on Sep 24.
Dr Tan oversees the overall management, performance and corporate strategy formulation for the group. With more than 20 years of experience in the construction and property development sectors, he co-founded Goodland Development in January 1993, initially focusing on building and civil engineering projects for both private and public sectors.
Alongside co-founder Ben Tan, he expanded the company&rsquo s operations to include property development in 1994. The group holds a diverse portfolio of investment properties and land banks in Singapore, as well as in Malaysia (Ipoh and Penang), and Cambodia (Siem Reap).
Goodland Group swings into net loss in 1HFY2024
Goodland Group reported a net loss of $5.3 million for the six months to March 31, its FY2024, as revenue halved but costs remained high. Property development revenue fell sharply compared to the same period a year ago. The company operates three main segments: property development, consturction and property investment. Despite a poor showing in the P& L statement both operating and free cash flow were positive in 1HFY2024.
CGS-CIMB lowers China Sunsine' s TP to 60 cents due to potentially weaker FY2023
On Nov 11, China Sunsine reported 3QFY2022 core net profit of RMB128 million ($24.5 million) for 3QFY2022, which was 28% higher y-o-y but 45% lower q-o-q.
CGS-CIMB Research analysts Ong Khang Chuen and Kenneth Tan are keeping their &ldquo add&rdquo call on China Sunsine Chemical Holdings after the company&rsquo s results for the 3QFY2022 ended Sept 30 came in above expectations.
The positive recommendation also comes as the company&rsquo s valuations are deemed as &ldquo attractive&rdquo to the analysts, at an FY2023 P/E ratio (ex-cash) of 1.9x. China Sunsine&rsquo s strong free cash flow generation track record is also seen as a plus.
On Nov 11, China Sunsine reported a core net profit of RMB128 million ($24.5 million) for 3QFY2022, which was 28% higher y-o-y but 45% lower q-o-q. The quarterly net profit brought China Sunsine&rsquo s 9MFY2022 net profit to about 88% of the analysts&rsquo FY2022 forecast despite the challenging macro environment.
&ldquo The beat was due to stronger-than-expected sales volumes (-6% y-o-y), as we had projected a steeper decline in view of a slowdown in China&rsquo s economy,&rdquo Ong and Tan write.
&ldquo 3QFY2022 gross profit margin (GPM) saw some contraction on a q-o-q basis to 27.2%, but was stronger on a y-o-y basis. Stronger y-o-y profits were also helped by a lower effective tax rate as China Sunsine was awarded the &lsquo High-Tech Enterprise&rsquo status in May, which entitles it to a concessionary tax rate of 15% for three years,&rdquo they add.
Despite the &ldquo resilient sales volumes&rdquo , the analysts are anticipating the company to report a &ldquo narrower profit spread&rdquo in the 4QFY2022 due to m-o-m increases in rubber accelerator and aniline prices and given that China Sunsine typically locks in quarterly pricing for its rubber accelerator products with major customers while taking spot prices for raw materials.
On this, the analysts are forecasting the company&rsquo s GPM to decline further q-o-q to 25%.
As global macro conditions seem to be declining further, the analysts believe sales volumes for rubber accelerators will be negatively impacted as consumers dial back discretionary spending such as automobiles.
&ldquo While the potential reopening of China could help spur domestic demand recovery, we still expect FY2023-FY2024 sales volumes to be lower than FY2022 levels on export weakness,&rdquo say Ong and Tan. &ldquo We hence lower our FY2023-FY2024 earnings per share (EPS) [estimates] by 4.1%-4.5%.&rdquo
In their report on Nov 15, Ong and Tan lowered their target price estimate to 60 cents from 70 cents previously. The lower target price is now pegged to a lower FY2023 P/BV of 0.7x, from 0.9x previously, as the analysts account for a potentially weaker FY2023. The new ratio is 0.5 standard deviations (s.d.) below China Sunsine&rsquo s 10-year historical mean.
Goodland Group' s FY2022 net profit rises around 9x
Construction and property developer Goodland Group&rsquo s net profit for the the 12 months to Sept 30, its FY2022, went up around 9x to $10.04 million on the back of a 45% rise in revenue to $37.08 million.
Goodland Group
On Sept 15, Goodland Group Goodland: 5PC 0% executive director Melanie Tan Bee Bee acquired 632,000 shares of the company at 13.0 cents per share.
With a consideration of S$82,160, the married deal increased her direct interest in the lifestyle property developer from 5.89 per cent to 6.07 per cent.
With the 73.83 per cent deemed interests, this took her total interest in Goodland Group to 79.90 per cent.
Ms Tan is responsible for overseeing the finances of the group, its strategic investments, acquisitions and finance, and joined the group as financial controller in 1995.
She also oversees the group' s human resource and administration, and drives service innovation within the group.
Goodland, Chip Eng Seng units to acquire properties
PROPERTY players Goodland Group and Chip Eng Seng Corporation both announced property acquisition deals on Wednesday.
For Goodland, its unit PEG East has entered an agreement to acquire a row of four freehold double-storey shophouses on Serangoon Road for S$16 million.
The properties are 1375, 1377, 1379 and 1381 Serangoon Road, which Goodland described as " conveniently located at the city fringe" and easily accessible via major roads, expressways, MRT stations and shopping malls.
The company intends to redevelop the land on which the properties are situated, subject to approval from the authorities.
The acquisition is being funded through internal resources and/or bank borrowings, and is not expected to have a material impact on earnings per share for the current financial year ending September.
Separately, CES Grosvenor (SA), a wholly-owned unit of Chip Eng Seng Corporation, has entered an agreement to acquire a two-storey commercial building in Adelaide, Australia, for A$2.5 million (S$2.6 million).
Located at 80-82 Hindley Street, the property is situated on a freehold site and has a land size of about 287 square metres, Chip Eng Seng said in a bourse filing. The deal is expected to be completed on July 1.
The property is fully tenanted. 80 Hindley Street is leased for use as a convenience store for a term of three years expiring in November 2023, with an option to renew for a further term of two years.
Meanwhile, 82 Hindley Street is leased for use as a bar for a term of three years expiring in September 2023, with an option to renew for a further term of three years.
In explaining the rationale for the purchase, Chip Eng Seng noted that the property is adjoining other Hindley Street properties it had previously acquired. The company also previously acquired a hotel, now known as Grosvenor Hotel Adelaide, in the same zone.
" While the group considers its redevelopment plans for the area, the proposed acquisition in the meantime presents the opportunity for the group to have increased frontage along Hindley Street, which will allow it to better manage the tenant mix along that street," the company said.
PEG East, a unit of Goodland Group, has entered an agreement to acquire a row of four freehold double-storey shophouses on Serangoon Road for S$16 million, the mainboard-listed property developer announced on Wednesday.
The properties are 1375, 1377, 1379 and 1381 Serangoon Road, which Goodland described as " conveniently located at the city fringe" and easily accessible via major roads, expressways, MRT stations and shopping malls.
The company intends to redevelop the land on which the properties are situated, subject to approval from the authorities. The acquisition is being funded through internal resources and/or bank borrowings, and is not expected to have a material impact on earnings per share for the current financial year ending September.
Shares of Goodland closed at S$0.137 on Wednesday, down 1.44 per cent.
sumitrade ( Date: 16-Dec-2013 16:33) Posted:
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Goodland Group
On Sept 16, Goodland Group managing director and CEO Alvin Tan Chee Tiong acquired 618,000 shares of the listed company for a consideration of S$92,700.
At 15.00 cents per share, the married deal took his total interest in Goodland Group from 79.49 per cent to 79.67 per cent.
He is primarily responsible for the overall management, performance, as well as the formulation of corporate strategies of the group.
Under his leadership, the group has seen a significant expansion in its holdings, and a substantial increase in capital base.
He possesses more than 20 years of industry experience in both the construction and property development businesses.
Goodland Group
On June 5, Goodland Group executive chairman Ben Tan Chee Beng acquired 2,764,400 shares of the listed company for a consideration of S$428,482, at 15.5 cents per share. This took his direct interest in Goodland Group from 7.72 per cent to 8.49 per cent.
He also maintains a considerable deemed interest in the group, and combined with the direct interests, brings his total interest to 79.49 per cent.
Mr Tan is primarily responsible for overseeing the group' s strategic direction and investment. Prior to joining the group, he worked as a civil engineer with the Housing and Development Board, Singapore.
July 1994 saw Mr Tan appointed as a director of Goodland Development Pte Ltd, which commenced operations as a building and civil engineering company undertaking both private projects and public infrastructure works.
Together with the other co-founder, Alvin Tan, they expanded the company' s business operations to include property development.
Goodland listed on Catalist on Oct 8, 2009 and transferred to the Mainboard on June 25, 2013. In its H1 FY20 (ending 31 March) financial statements, the group maintained that it expected the next 12 months to be very challenging.
While monitoring the development of the Covid-19 outbreak and exercising prudence with a focus on taking necessary initiatives to moderate the impact, the group noted that it would continue to look for development and investment opportunities, both locally and regionally, while exercising caution.
Moving up already wor.
Any Sifu can throw some light on this counter??
900lots married deal at 0.365
unusual VOL
Goodland is making inroad in Cambodia property development.
Any good advice please?