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What is the potential value of The Place Holdings&rsquo s stake in Tianjie Yuntai Wanrun (Xiuwu) Property Development Co., Ltd?
I have stated in my last 2 writeup &ndash Check them out. But I will do the calculation here.
As per annual report &ndash &ldquo In November 2020, the Group announced it had completed the subscription of a 80% stake in Tianjie Yuntai Wanrun (Xiuwu) Property Development Co., Ltd. which owns approximately 270,500 square metres of commercial land in the Southeast of Mount Yuntai. In March 2021, the Group had completed the change in land zoning of Wanrun&rsquo s Land from commercial to residential. This not only increases the gross floor area (&ldquo GFA&rdquo ) and allows the project to be marketed to a wider group of potential buyers, it also increases the land use rights from its existing 40 years to 70 years&rdquo
Search 云 台 山 恒 大 养 生 谷 on Baidu &ndash a location near Yun Tai San (Go and find out on the Baidu map). The cost is this 普 通 住 宅 均 价 ： 7500元 /m² 洋 房 均 价 ： 9500元 /m² 叠 拼 均 价 ： 11000元 /m²
So the potential value is : 270,500 x 7000 x 80% = RMB$ 1,514,800,000.00 (7000 to be conservative)
Assume SGD to RMB: 1: 5 (Conservative)
1,514,800,000.00 / 5 = S$302m
This is around 1/3 of the market cap currently based on conservative figures excluding the SG property business and the Media and event management business.
big whack down
once dist out drop to 113 i also not surprised
hope dont consolidate then become like artivision everyday down
Place Holding
What a name.
Secret_Squirrel ( Date: 20-Apr-2021 12:47) Posted:
Chiong to sell after lunch, if price really chiong up.
tec96157 ( Date: 20-Apr-2021 12:27) Posted:
Chiong after lunch...  |
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Chiong to sell after lunch, if price really chiong up.
tec96157 ( Date: 20-Apr-2021 12:27) Posted:
Chiong after lunch...
tec96157 ( Date: 19-Apr-2021 20:16) Posted:
| Lai lo... tomorrow see the show. :) |
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Chiong after lunch...
tec96157 ( Date: 19-Apr-2021 20:16) Posted:
| Lai lo... tomorrow see the show. :) |
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I clipped it from another forum thread...it shows the potential of the digital economy and also track record of the management team behind THE PLACE HOLDINGS...looking forward to more developments from the SGX list co.
Thought of sharing the following excerpt from an interesting article by Deloitte concerning the Digital Disruption In Commercial Real Estate.
The retail marketing and distribution channel we were taught in our early years is no more. To survive and succeed, the modern day retailer and commercial real estate operator will need to work hand in hand to embrace digitalisation, the internet and technology to engage the new-age shopper to not only push products and services to the his/ her fingertips but to create the ultimate shopping experience.
The Sky Canopy in The Place Beijing as I know it is moving in the right direction especially so in the context of China, where digital payments and online sales is most prevalent.
Lai lo... tomorrow see the show. :)
I noted a subtle change in the PLACE HOLDINGS webssite:
Establishing A Strong Business Platform with New Growth Opportunities in the Digital Economy
The recognition and popularity of THE PLACE, BEIJING shows that the management team have a strong track record in harnessing the opporunities by combining both traditional biz and new-age technology solutions.
Come and try some for making Durian money :)
WATCH.. decent vol accumulated past week for breakout soon:):)
Did a google check on THE PLACE HOLDINGS' project at Mount Yuntai Tourism Township.
FYI....China Evergrande is also developing part of the land at Mount Yuntai Tourism Township:
https://www.sohu.com/a/319554523_99901948
近 日 ， 由 三 航 局 承 建 的 河 南 省 焦 作 市 云 台 山 恒 大 养 生 谷 项 目 首 期 三 标 段 26栋 住 宅 楼 全 部 封 顶 ， 标 志 着 该 项 目 主 体 工 程 顺 利 完 工 。
云 台 山 恒 大 养 生 谷 项 目 是 以 养 生 养 老 、 文 化 娱 乐 、 健 康 运 动 为 一 体 的 综 合 型 房 建 项 目 ， 位 于 河 南 省 焦 作 市 云 台 山 脚 下 。 项 目 总 建 筑 面 积 149万 平 方 米 ， 三 航 局 承 接 的 首 期 三 标 段 建 筑 面 积 约 31.6万 平 方 米 ， 主 要 包 括 26栋 住 宅 楼 、 健 康 体 验 馆 、 售 楼 中 心 、 会 议 中 心 、 星 级 酒 店 及 商 业 广 场 等 设 施 。 For_The_Next_Leg ( Date: 18-Apr-2021 21:21) Posted:
$The Place Hldg(E27.SI) how much will the place holdings land in China be worth?
I found an area where it is close to The Place Holding' s land in China.
Check out 云 台 山 恒 大 养 生 谷 . This is one of the website in china that states the prices: https://jiaozuo.newhouse.fang.com/loupan/2514144749.htm
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px hit 143 again
decending triangle vertex
this must hold then w5 come
$The Place Hldg(E27.SI) how much will the place holdings land in China be worth?
I found an area where it is close to The Place Holding' s land in China.
Check out 云 台 山 恒 大 养 生 谷 . This is one of the website in china that states the prices: https://jiaozuo.newhouse.fang.com/loupan/2514144749.htm
Wanrun&rsquo s Land Use Right
As also disclosed in the 2018 Circular, Wanrun was initially granted the land use right (expiring in October 2051) for a piece of commercial land with an area of approximately 270,500m2 in South East of Mount Yuntai (the &ldquo Land&rdquo ). The Land is part of Mount Yuntai Integrated Tourist Township Project, to be developed by JTYI and its related entities. As a condition for granting the land use right, Wanrun had committed to invest a minimum amount of RMB243,450,000 (approximately $49,347,000) to develop the Land (Note 23).
As announced by the Company on 1 November 2020, following the acquisition of Wanrun, the Group had applied to the relevant authorities to change the land zoning of the Land from commercial to residential type. Subsequent to the financial year, in March 2021, the requisite approvals for the change in zoning was procured and the Land could now be developed for residential purposes. The expiry date of the land use right has also been extended to October 2081. As significant development activities will be carried out on the Land in future, the land use right is classified as a &ldquo development property&rdquo (Note 7(a)) for the purpose of the Group&rsquo s financial statements as at 31 December 2020.
https://links.sgx.com/1.0.0/corporate-announcements/H6A3NUACITF6IPHY/f47dd80c3ff2305233cbd0ccc4d62d471a27c565741b92fce2b75c9e9bed70cf
my opinion it is a positive comment. :)
How the matter was addressed in the audit
In obtaining sufficient appropriate audit evidence, the following audit procedures, amongst others, were carried out: 1) We considered management&rsquo s assessment of the concentration test and its accounting for the acquisition. 2) We examined the salient terms and conditions of the Proposed Subscription (see Note 5(b)), and the evidence substantiating the acquisition date and control over the subsidiary. 3) We evaluated the qualifications, competence and objectivity of the external valuer. We reviewed the purchase price allocation report considered the appropriateness of the valuation methodology and tested data used by management and the external valuer and assessed the reasonableness of the key assumptions used by them comparing against available market data. 4) We conducted site visits of the Land (see Note 5(b)) and discussed with management regarding its plan and status of developing the Land. Based on the results of our audit procedures performed, we found that the judgement applied by management in determining the basis for accounting the acquisition of Wanrun as an asset acquisition for the purpose of the Group&rsquo s financial statements was corroborated by available information as of the date of this report, and that the acquisition was properly accounted for. The valuation was also supported by independent valuation report and the underlying valuation assumptions were within range of market data.
In conclusion, the Board wishes to further reiterate that the &ldquo except for&rdquo qualified opinion is a consequential effect of qualification in the previous financial year and this matter had been fully resolved by end of FY2020 upon the full refund of Refundable Deposit and completion of the subscription of 80% shareholdings of Tianjie Yuntai Wanrun (Xiuwu) Property Development Co., Ltd. Furthermore, the zoning of the land of Tianjie Yuntai Wanrun has been changed from commercial to residential with effect from 23 March 2021, as per announcement on 28 March 2021. The land-use rights assigned has been increased from its existing 40 years to 70 years.
By Order of the Board Ji Zenghe Executive Chairman 14 April 2021
Mmmm!! Independent Auditor have some comment 
