Wing Tai

[winston]

Not vested

WING TAI HOLDINGS - Property developer Wing Tai Holdings said its third quarter net profit more than doubled to S$59.5 million from S$23.2 million a year ago, helped by higher sales from its residential units


Source: Reuters

[winston]

Not vested

RESEARCH ALERT- Kim Eng cuts Wing Tai target to S$2.12, keeps buy

SINGAPORE, July 8 (Reuters) - Kim Eng Securities kept its buy rating and lowered its target price on Singapore-listed property developer Wing Tai Holdings to S$2.12 from S$2.30.

STATEMENT: Kim Eng has lowered its target price to S$2.12 from S$2.30 as it ascribed a higher 30 percent discount to Wing Tai's restated net asset value on the back of continued government policy challenges for developers.

Wing Tai announced the sale of a unit at its Singapore property Le Nouvel Ardmore at S$16.7 million ($13.7 million) without discount and Kim Eng estimated that this will translate to a price of around S$4,200 per square foot.

This was 20 percent higher than Kim Eng's earlier estimate of S$3,500 per square foot for the project.

Kim Eng said that despite uncertainties brought about by policy challenges, the demand for well-located, high-quality projects such as Wing Tai's Foresque Residences will continue.

The demand for mid- and high-end projects, which make up the bulk of Wing Tai's landbank, will continue as they are more resilient to policy measures.

At 0247 GMT, Wing Tai shares were up 0.67 percent at S$1.49, and have fallen about 12 percent so far this year.

Source: Reuters

[winston]

not vested

WINGTAI HOLDINGS - Property developer Wing Tai Holdings said its fourth quarter net profit more than doubled to S$170.6 million from S$68.9 million a year earlier.

Source: Reuters

[winston]

not vested

RESEARCH ALERT-CIMB cuts Wing Tai price target

SINGAPORE, Aug 31 (Reuters) - CIMB Research cut its share-price target on Singapore-listed retailer and property developer Wing Tai Holdings to S$1.51 from S$1.93 and kept its "outperform" rating on the stock.

STATEMENT: CIMB Research cut its target price to account for lower average selling prices of the company's residential units.

Wing Tai Holdings said on Monday its fourth-quarter net profit more than doubled to S$170.6 million. [ID:nSNZ75lkdd] The company has proposed a final dividend of 7 Singapore cents for the year, implying an attractive yield of 5.5 percent, CIMB said.

Sales of its residential units, especially those priced at the higher end, could remain sluggish, but Wing Tai is in a strong financial position to weather any slowdown in the property market, CIMB said.

At 0124 GMT, shares of Wing Tai were 6.8 percent higher at S$1.34. They have fallen 20.4 percent since the start of the year.


Source: Reuters

[winston]

not vested

Wing Tai shares jump 15 pct on chairman's acquisition plan

SINGAPORE, May 10 (Reuters) - Shares of Singapore property developer Wing Tai Holdings Ltd jumped as much as 15 percent to a three-month high, after its chairman offered to buy about 15 percent of shares in the firm he did not already control.

By 0613 GMT, Wing Tai shares were 11 percent higher at S$1.305 with 876,000 shares traded. This was 1.9 times its average daily volume over the last five sessions.

Wing Tai's chairman Cheung Wai Keung plans to buy 68.1 million Wing Tai shares at S$1.39 apiece through a vehicle called Ascend Capital, raising his family's stake to about 50.6 percent from around 41.9 percent. [nL4E8GA1Q1]

"The major shareholders are using the currently attractive valuation to try to increase their stake. Even at this offer price, it's still quite a discount to the book value," said Wilson Liew, an analyst at Maybank Kim Eng.

Ascend's offer price was about 44.6 percent below Wing Tai's net asset value per share of S$2.51 on March 31.

Source: Reuters

[behappyalways]

not vested

2Q2014 result
http://infopub.sgx.com/FileOpen/Announc ... eID=272446

NTA $3.57 1H2014 EPS 9.25 cents
Share Price $1.775

[ngcheeki]

not vested

Hi behappyalways,

still not vested ? At what price than you're buying??? . Joke aside, I'd recently increased my holding on Wing Tai Holdings based on low price to book < 0.5X as well as expected dividend yield of around 4% or 7 cents. Not sure if it is a right move though!!

[behappyalways]

I think property as a sector is suffering from bearish sentiment.....the selldown is kinda absurd but that's how the market is behaving.....If i am adding more property shares, i would rather hold sing holdings....because their assets more liquid.....and more predictable earnings.....but sing holdings' boss is a blank blank....hee hee I think the company should not distribute cash but use the cash to take the company private......

not vested

Hi behappyalways,

still not vested ? At what price than you're buying??? . Joke aside, I'd recently increased my holding on Wing Tai Holdings based on low price to book < 0.5X as well as expected dividend yield of around 4% or 7 cents. Not sure if it is a right move though!!

[behappyalways]

Not vested

DBS Vickers Securities: WingTai
http://www.remisiers.org/cms_images/res ... ai-buy.pdf

[behappyalways]

not vested

share buyback
http://infopub.sgx.com/Apps?A=COW_Corpo ... &F=1060610

right thing to do.....not like Sing Holdings that choose to be a sitting duck with $100m in cash....