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| Balance Sheet | |
| Total Cash (mrq): | 60.53M |
| Total Cash Per Share (mrq): | 0.01 |
| Total Debt (mrq): | 818.12M |
| Total Debt/Equity (mrq): | 77.18 |
| Current Ratio (mrq): | 2.37 |
| Book Value Per Share (mrq): | 0.16 |
FRAGRANCE GROUP SECURES APPROVAL FOR THE SEEMINGLY DEFUNCT 555 COLLINS STREET
Singaporean outfit Fragrance Group has managed to gain approval for a substantial residential tower at 555 Collins Street.
Long after notions of a 400 metre commercial tower and in the wake of Fragrance Group' s early ambitions for a 300 metre mixed use monolith onsite, a residential tower holding in excess off 600 apartments has been given the green light by Planning Minister Richard Wynne. This process of approval has taken place in conjunction with the site being offered for sale.
After failing to win approval for their initial scheme, Fragrance Group appointed Knight Frank in the early stages of 2016 as handling agent for what still remains a vacant office tower with prime Collins Street frontage.
Permitted this month, Fragrance Group released the following statement to the Singapore Stock Exchange(link is external), dated September 21st:
The Board of Directors of Fragrance Group Limited is pleased to announce that the Company&rsquo s Australian subsidiary, Fragrance VIC-MEL (Collins) Pty Ltd has obtained a planning permit for the property located at 555 Collins Street, Melbourne, Victoria. The planning permit allows for the Property to be developed into a mixed-use multi-storey building for dwellings and retail premises.
The Property, which is fully owned by Fragrance Collins, has a freehold tenure with a total land area of approximately 2,300 square metres. The Property is currently zoned &ldquo Capital City Zone 1&rdquo . Strategically located at the intersection of Kings Street and Collins Street, 555 Collins Street is a unique corner site in the bustling Melbourne CBD. The area is a central hub for business and well connected by public transport.
The development which was approved based on a floor area ratio of 1:24, will comprise of retail and restaurant outlets on the ground floor, 625 residential units consisting of 1, 2, 3 bedroom apartments and penthouses with car parks located in the 4 basements. Other than a whole floor dedicated to well-appointed residential amenities like lounges, gymnasium, swimming pool etc., residents will also be able to get to enjoy a variety of food and beverage and retail provisions on the ground floor amidst large recessed plazas and walkway connecting the development to the adjoining buildings. Periakaruppan Aravindan, Executive Director, Fragrance Group
In comparison the initial Bates Smart-designed tower for the site sought approval for 1,020 apartm
perhaps his children are schooling in australia
Think Ah Koh now diverting his attn to Australia. Let' s see how it goes. My sense though is that he will do OK there. In any case, lumpy results are not unexpected, especially given that the property mkt is, in my view, in a very controlled state at this pt in time, n the different timing of revenue recognition for various projects. DYODD as always. I' m not vested n FG.
BRIEF: For the nine months ended 30 September 2016, Fragrance Group Limited revenues decreased 65% to SP$86.4M.
Net income decreased 80% to SP$12.1M.
Revenues reflect Property Development segment decrease of 68% to SP$72.7M,
Property Investment segment decrease of 3% to SP$13.6M.
Net income also reflects Fair value gain on investment properties decrease of 72% to SP$6.1M (income),
Finance Costs increase of 65% to SP$13.9M (expense).
maybe another giant wireless.... if you know what i mean.... DYODD probably....
Secret_Squirrel ( Date: 13-Nov-2016 18:43) Posted:
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Have you studied the 3q results which was released on 9 November 2016 recently.
The group has sold almost all its residential units in Singapore. They have only one significant ongoing development project currently in Singapore City Gate (Group has 50%interest) which is 85% sold.
dogbone1 ( Date: 12-Nov-2016 15:31) Posted:
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I, for one, am not particularly bothered always abt huge debts. One has to do his/her own homework abt the likelihood or otherwise of default. I' d made some points in the Aspail n Aspail bonds thread. Anyway, Aspail is kaki nang.
anthonykwong ( Date: 12-Nov-2016 16:09) Posted:
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dogbone1 ( Date: 12-Nov-2016 15:31) Posted:
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Sooner or later this counter will delist. No point listing in SGX for only 2 buyers who own more than 85% shares.
Qanghoo ( Date: 25-Oct-2016 08:05) Posted:
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Mr & Mrs Koh. Hahaha
anchorvale ( Date: 24-Oct-2016 23:08) Posted:
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why is this counter going down trend anyone know?
http://www.sandboxadvisors.com/singapore-jobs-news/ceo-salary-singapore
infoshare ( Date: 09-Aug-2016 14:02) Posted:
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insignifcant investment...........3.9million,,,,,,,,,,, how to move the needle?
Probably for long term and multipurpose.......
Good university in Tasmania ?
The Board of Directors (the &ldquo Board&rdquo ) of Fragrance Group Limited (the &ldquo Company&rdquo ) wishes to announce that the Company&rsquo s subsidiary - FRAGRANCE TAS-HOBART (ELIZABETH) PTY LTD (&ldquo Fragrance TAS-Hobart (Elizabeth)&rdquo ) (formerly known as FRAGRANCE VIC-MEL (SOUTHBANK) PTY LTD) in Australia, has acquired the property located at 234 to 250 Elizabeth Street, Hobart, Tasmania, Australia (the &ldquo Property&rdquo ).
The total purchase consideration for the Property is A$3,980,000/- (the &ldquo Purchase&rdquo ) and is funded internally. The Property has a freehold tenure with a total land area of approximately 3,501 square metres and is currently zoned &ldquo Central Business&rdquo in the Hobart Interim Planning Scheme 2015. Strategically located near the corner of Warwick Street and Elizabeth Street, it is only less than 700m from the busy Elizabeth Shopping Mall in the heart of downtown Hobart City&rsquo s Central Business District. Under the current zoning, the Property can potentially be redeveloped for office, retail, hotel and residential uses.
The Purchase, which was completed on 5 August 2016, is not expected to have any material impact on the net tangible assets or earnings per share of the Company for the financial year ending 31 December 2016.
None of the directors and substantial shareholders of the Company has any interest, direct or indirect, in the transaction.
Qanghoo ( Date: 20-May-2016 07:32) Posted:
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New development at Australia for Fragrance sowing the seed for the time being.
infoshare ( Date: 12-Jul-2016 16:55) Posted:
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hibernation .....farming at the new island
There are 6.7 bil shares outstanding. 100k shares is 0.001%. Ah Koh needs another 300 mil shares to reach 90%.
infoshare ( Date: 20-May-2016 00:38) Posted:
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100,000 shares accumulated from market at $0.18