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2041-2060 of 2173
juz bot into kepland at 1.32
huat ar!
Ooops, sorry. I was referring to SPH.
That is the problem when we study too many charts at one go on the screen.
oinkoink1999 ( Date: 12-Feb-2009 22:46) Posted:
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One is CappedMAN the other is KeptMAN..see which man u wanna be..haha
you referring to cap land i suppose? :)
trader88.sg ( Date: 12-Feb-2009 22:22) Posted:
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Current resistance is at 2.83.
any idea when is the next resistance? Its trading near 52wk low for quite a while..
bh704428 ( Date: 12-Feb-2009 18:05) Posted:
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I thought yesterday you said u not interested in this? So wat price u bought yr 10 lots?
freeme ( Date: 12-Feb-2009 17:38) Posted:
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i am holding 10lots
ozone2002 ( Date: 12-Feb-2009 17:06) Posted:
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Many ppty developer including reits are trading at big discounts to its NAV now......the key is to look for those with low debt level/gearing and strong sponsor. :-)
NAV for Kept-MAN is $3+
getting at a 50% discount..where to get such lobang..
freeme..how many lots did u grab?
Quote from the Edge:
Keppel Land didn’t participate in the property stocks rebound dealers say, on account of institutional selling, reportedly by Schroder Investment Management Group. On Feb 5, Schroeder announced it had ceased to be a substantial shareholder and owned less than 5%.
Hmmm....stuck in the current range with BBs sell down, suspect RI is on the card.
wah lei long 1.31!..woo..
just got another 5 lots..
yo.. i just buy up on this.. hw many lots u holding nw?
ozone2002 ( Date: 12-Feb-2009 15:23) Posted:
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Kepland is freaking LOW!!..
$1+ for Kepland cheap sale man..
don't know abt u..i'm definitely grabbing some for long term..
analyst prefer in the order. Is Kepland really that bad, or will it fall below $1? Kepland has small warchest, right?
1) citydev
2) capitaland
3) kepland
WOW! look @ the vol!!!
definitely the smart money is in KEPLAND!..
This will definitely chiong..mark my words..
Kepland will follow Capitaland UP UP UP and AWAY. tomorrow.
Hmm...will this one be the next to follow the RI trend? It's anybody's guess. I hope not, otherwise pls come sooner rather than later but best is never. 
Waiting for one buck at the end of the year 2009.
des_khor ( Date: 05-Feb-2009 11:19) Posted:
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Business Times - 09 Feb 2009
Hock Lock Siew
Write down and start selling
By ARTHUR LEE
WHEN Keppel Land announced its quarterly financial results last month, it said it had reviewed its residential landbank and concluded that no provisions or write-downs were required as their breakeven prices were lower than market prices.
With other developers expected to report their latest quarterly results soon, it will be interesting to see who else takes the same line.
Write-downs by developers have been expected for some time. But most have adopted a head-in-the-sand approach, perhaps hoping that price falls will somehow moderate this year if they drag their feet.
However, with economic data worsening by the day, this reading could be wrong. And it could be time for developers to wake up and smell the coffee, if only to help the property market pick up and move on.
The market, which is near catatonic - with only 700 new units launched for sale in Q4 2008 - is suffering from developers' refusal to accept the pricing realities of the current economic condition.
Keppel Land still has homes to launch for sale, including those at Reflections at Keppel Bay and Marina Bay Suites in which it has a 33.3 per cent stake.
In March 2007, joint-venture partners Cheung Kong Holdings/ Hutchison Whampoa, Hongkong Land and Keppel Land paid $907.67 million for the Phase II site of Marina Bay Financial Centre (MBFC) where Marina Bay Suites is located.
The breakeven price for Marina Bay Suites is difficult to estimate because MBFC is a mixed development site. But the consortium came close to launching the luxury condo in January 2008 at about $3,000 per square foot, before changing its mind.
According to the Urban Redevelopment Authority's data, the latest transacted price (January 2009) for a unit at Marina Bay Residences next door was just $1,638 psf.
In contrast to developers, some real estate investment trusts (Reits) have begun to recognise the fall in asset values.
CapitaCommercial Trust's portfolio booked a 3 per cent or $241.8 million net decrease in fair value at Dec 1, 2008, resulting in an adjusted net asset value (NAV) per unit (excluding H2 2008 distributable income to unit-holders) of $2.92 at Dec 31, 2008, compared with $3.11 at June 30, 2008.
K-Reit, however, did report that its portfolio valuation of $2.1 billion remained unchanged from the previous year. It added that its current aggregate leverage of 27.6 per cent would only exceed 60 per cent if capital values were to drop more than 54 per cent. Capital values of commercial property tend to lag those of residential property.
A write-down will, of course, have an adverse effect on a company's NAV and share price, which partly explains the reluctance to make such a move. By not acknowledging a fall in asset values, developers are likely to continue to resist discounting home prices and rely on external funding, rather than cash flow, to finance holding costs.
But given the rising cost of finance (if you can get it), could launching developments at a discount and locking in some cash be the lesser of two evils?
One developer at least appears to be going about things differently.
Last week, Frasers Centrepoint took the bold step of launching the first phase of its 712-unit Caspian condo next to Lakeside MRT Station in Jurong. It bought the site in late 2007 for $248 psf per plot ratio. At the time, the breakeven price was estimated to be around $550 psf.
It proved a good move. The first phase of Caspian was launched at an average of $580 psf, and sales so far have been very encouraging.
Hock Lock Siew
Write down and start selling
By ARTHUR LEE
WHEN Keppel Land announced its quarterly financial results last month, it said it had reviewed its residential landbank and concluded that no provisions or write-downs were required as their breakeven prices were lower than market prices.
With other developers expected to report their latest quarterly results soon, it will be interesting to see who else takes the same line.
Write-downs by developers have been expected for some time. But most have adopted a head-in-the-sand approach, perhaps hoping that price falls will somehow moderate this year if they drag their feet.
However, with economic data worsening by the day, this reading could be wrong. And it could be time for developers to wake up and smell the coffee, if only to help the property market pick up and move on.
The market, which is near catatonic - with only 700 new units launched for sale in Q4 2008 - is suffering from developers' refusal to accept the pricing realities of the current economic condition.
Keppel Land still has homes to launch for sale, including those at Reflections at Keppel Bay and Marina Bay Suites in which it has a 33.3 per cent stake.
In March 2007, joint-venture partners Cheung Kong Holdings/ Hutchison Whampoa, Hongkong Land and Keppel Land paid $907.67 million for the Phase II site of Marina Bay Financial Centre (MBFC) where Marina Bay Suites is located.
The breakeven price for Marina Bay Suites is difficult to estimate because MBFC is a mixed development site. But the consortium came close to launching the luxury condo in January 2008 at about $3,000 per square foot, before changing its mind.
According to the Urban Redevelopment Authority's data, the latest transacted price (January 2009) for a unit at Marina Bay Residences next door was just $1,638 psf.
In contrast to developers, some real estate investment trusts (Reits) have begun to recognise the fall in asset values.
CapitaCommercial Trust's portfolio booked a 3 per cent or $241.8 million net decrease in fair value at Dec 1, 2008, resulting in an adjusted net asset value (NAV) per unit (excluding H2 2008 distributable income to unit-holders) of $2.92 at Dec 31, 2008, compared with $3.11 at June 30, 2008.
K-Reit, however, did report that its portfolio valuation of $2.1 billion remained unchanged from the previous year. It added that its current aggregate leverage of 27.6 per cent would only exceed 60 per cent if capital values were to drop more than 54 per cent. Capital values of commercial property tend to lag those of residential property.
A write-down will, of course, have an adverse effect on a company's NAV and share price, which partly explains the reluctance to make such a move. By not acknowledging a fall in asset values, developers are likely to continue to resist discounting home prices and rely on external funding, rather than cash flow, to finance holding costs.
But given the rising cost of finance (if you can get it), could launching developments at a discount and locking in some cash be the lesser of two evils?
One developer at least appears to be going about things differently.
Last week, Frasers Centrepoint took the bold step of launching the first phase of its 712-unit Caspian condo next to Lakeside MRT Station in Jurong. It bought the site in late 2007 for $248 psf per plot ratio. At the time, the breakeven price was estimated to be around $550 psf.
It proved a good move. The first phase of Caspian was launched at an average of $580 psf, and sales so far have been very encouraging.