He's probably referring to this -Originally Posted by Amber Woods
http://www.moneynews.com/MKTnews/Mar...o_code=13001-1
Sorry hor , I am not Mr B or seletar but I do take heed of this ..
Newbie
He's probably referring to this -
http://www.moneynews.com/MKTnews/Mar...o_code=13001-1
Sorry hor , I am not Mr B or seletar but I do take heed of this ..
Amber
Alamak! The Bulls are not going to like you here. You have just hurt their rice bowls.He's probably referring to this -
http://www.moneynews.com/MKTnews/Mar...o_code=13001-1
Sorry hor , I am not Mr B or seletar but I do take heed of this ..
Newbie
Logic tells you that there are an element of truths .. if you watch the video ..and realised the way easy n irresponsible $$$ are printed in America ... things can go hey wire from now to 2016 ... Be safe is my message when tsunami come it buried you ...
Newbie
The greatest investor is one who know when to unlock value at near (or pass, let you interpret) optimum time .. the signs are there already eg population white paper already out, CM8 s measures blah blah .. I am no Mr B .. But Mr B was never wrong ..It is only a matter of time ..
Senior
How rich always get richer is because they know when to exit the market.
Correction might be around the corner.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Junior
yawn...same old chart again. Now everyone knows why you started this thread in the first place.
This rich person in question is someone who hasn't exactly been spot on in his decision making.
Opinion from one forumer in relation to news article (below) on comments made by that rich person..
Source: Business Times – 7 June 2012
Suburban-urban price gap narrows because of MRT, amenities
SINGAPORE'S MRT network, along with a lethargic high-end market, has led to a narrowing price gap between suburban condos near MRT stations and those in the CBD/prime districts.
One way for the authorities to cool the mass segment of the private housing market would be to release more sites further away from MRT stations, reckons Wing Tai chairman Cheng Wai Keung.
He also notes that the network of MRT stations around the island has also reduced price differentiation between various suburban locations.
"The MRT transport network is so good that what is important now is not how far a property is from the centre or CBD; it (the price) is now more defined by how close you are to the MRT station.
"Two MRT stations, three stations, although you may think that it's far but in actual travelling time, it's not so much difference."
Besides MRT stations, the government has done a good job providing amenities.
"Today, living in a place like Sengkang is not so unbearable. There's an MRT station, a mall, library, everything." In some locations, there are also office buildings "so you don't have to come to town to work".
In short, shopping malls and other amenities that were in the past offered only in urban locations are now duplicated in suburban areas.
"This convenience has narrowed the price difference between urban and suburban areas, and also between the different suburban centres," Mr Cheng says.
SLP International managing director Peter Ow estimates that average launch prices for new suburban condos near MRT stations, excluding small units, are around $1,000 per square foot (psf).
Some market watchers have also commented that there was hardly a price gap between Sky Habitat in Bishan, which sold at a median price of $1,583 psf in April, and d'Leedon in the Farrer Road location, with a median price of $1,603 psf in April based on developer sales data lodged with the Urban Redevelopment Authority. Both are 99-year leasehold condos.
Mr Cheng, however, does not believe that the price gap will continue to narrow between suburban and prime locations such as Orchard because of the "perceived prestige . . . snob value".
"High-end locations still have a certain brand value."
One solution for the government to tackle the rise in property prices in the suburbs would be to release more land that is not next to MRT stations.
Land and property values for such sites are lower than those next to MRT stations.
While Mr Cheng acknowledges the motivation for government to tender out plots closer to MRT stations, to intensify land use near major transport nodes, he highlights some of the benefits of selling more land further away from MRT stations.
"You bring down the price . . . psychologically (when) you don't see at every tender, prices continuing to move up, with 15 developers going in to fight for a choice site. This will reduce the anxiety of people . . . and help to moderate the urge to quickly want to buy (a property) before price goes up."
Secondly, by selling land that is further from an MRT station, "you allow people a choice to have cheaper housing".
In exchange for this, they may be willing to give up the convenience of living closer to the MRT station. "They can walk (longer), take a transfer bus to the MRT station."
From the state's perspective too, it makes economic sense to release not-so-conveniently located sites in a hot market rather than in a dull market.
"At the end of the day, you have to release that site anyway, but if you release it in a dull market, the price will be even more depressed . . . or nobody may want it."
In the current market, there will still be some takers for such plots.
"So you also safeguard a certain value of the land. It's a good time to release more of not-so-choice sites in a hot market," Mr Cheng says.
Senior
Was reading ST today, they are wondering why Wing Tai doesnt want to redevelop this site into small plot and then sell them individually.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Junior
GCB is owned by privately held investment vehicle of CWK and his wife and not Wing Tai.
A privately-held investment vehicle controlled by Wing Tai chairman Cheng Wai Keung and his wife Helen has put its Nassim Road bungalow on a sprawling 84,839 sq ft freehold site on the market.
Jones Lang LaSalle - the sole marketing agent appointed to handle the sale of the property by tender - said the owners, whom it did not identify, are aiming to receive offers in the region of $250-300 million. This would work out to $2,947-3,536 per square foot (psf) on the land area.
Even the lower ends of the absolute and psf price ranges, if achieved, would set record prices for Good Class Bungalows.
In terms of absolute quantum, the highest transaction in a GCB Area was for $87.5 million in 2001 involving a 291,000 sq ft parcel in Swettenham Road in an asset swop deal between Singapore Press Holdings and Lum Chang, according to JLL's head of investments and residential Karamjit Singh.
Senior
as chairman of wingtai he would have the experience and resources to redevelop this plot, either by himself or through his investment vehicle.
Just like how other developer such as Kheng Leong or Hong Leong Holding does them.
Whats your opinion about this sale? Do you think he will find a buyer at this price? Or do you think he is stupid to sell landed property in Singapore.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Junior
Potential conflict of interest if he goes into property development himself....
Last edited by proper-t; 11-04-13 at 19:01.
Senior
care to explain why so?
Do you think he is stupid to sell landed property?
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Junior
For all you know, he could just be trying to boost the value of his other Nassim road property. Who knows how many he may own in that area?
The Nassim Road site is owned by Winright Investment Pte, according to property records obtained by Bloomberg News. Cheng and his wife, Helen Chow, who list their address at another Nassim Road home, are the shareholders of Winright, a company set up for “holding of property for long-term investment purposes,” according to company records obtained by Bloomberg News.
Senior
[quote=proper-t]For all you know, he could just be trying to boost the value of his other Nassim road property. Who knows how many he may own in that area?
that has got nothing to do with conflict of interest. What conflict of interest are you talking about?
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Junior
[quote=Ringo33]Wing Tai is marketing high end property which may target the same type of clientele as a prime landed project.
Senior
[quote=proper-t]Wee Cho Yaw has got his privately held Kheng Leong that does property development. Kwek Leng Beng has got his privately held Hong Leong Holding that does property development as well.. What does private investment decision has got to do with what their other company does?
Wingtai is just like any other developers, they do mass market, mid end, highend etc. But I have not heard about them selling GCB in Singapore. Which GCB development did the sell in Singapore?
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Junior
Ask CWK yourself. He could be very wary of flouting Companies Act and wants to avoid any potential conflict at all cost.
For all you know, he might just not want to go through the hassle of re-developing and selling the project.
Only he would know the real reason.
Last edited by proper-t; 11-04-13 at 19:46.
Senior
Yes, but what I am asking you is where is the conflict of interest if he choose to redevelop the plot himself or through his privately held investment company.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Junior
As long there exist a possibility (however remote) that his private company may be competing for the same customers as his public interest, then there may be a perception of a conflict which he may want to avoid at all cost.
Senior
As a chairman of WingTai, he cannot sell property because potential buyers of his 250m property could possibility be a customer of WingTai?
Is that what you are saying?
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Junior
No, I never said that. All I pointed out was that he may not want to put himself in a position where people might perceive or say there could be a possible conflict of interest and potentially run afoul of the authorities.
Senior
If thats not what you said, that may I know what conflict on interest are you talking about? And what is wrong with making money from redeveloping GCB?
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Junior
What if he is hosting a dinner with the super wealthy and at the table, a super rich individual says he is considering either buying a penthouse at Ardmore area or a new bungalow in a prime area and ask for his recommendations.
What would be his response?
Assuming there are shareholders of Wing Tai sitting at the same table, what do you think will be their perception if that individual eventually bought his bungalow project even though he may not have said or recommended anything at the table.
The main thing is what people perceive to be a possible conflict. As long as he wants to avoid people having such perceptions, to him, it may be better to draw a distinct line.
This could also be one of the reasons why the property is going through a public tender.
.
Last edited by proper-t; 11-04-13 at 20:58.
Senior
So what you are saying is that as chairman of WingTai, he should not make profit from property because of conflict of interest. And the same should also apply to all employee of wingtai perhaps?
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Junior
Why are you trying so hard to put words in my mouth? Your attempts are quite laughable.
I never said he could not make money from personal property interest. All I said is that one of the reasons he may not want to embark on this GCB redevelopment is because he may be of the mind that people may perceive a potential conflict of interest with his public interest. Why are you bringing employees of Wing Tai into this? The focus should be on CWK and this GCB sale.
Senior
You say that as chairman of WingTai there is a possible conflict of interest if he redevelop his GCB for sale because potential buyers for his GCB should also be interested i WingTai properties.
So wont that mean that ALL employee of WingTai or any developers should not sell, invest or speculate in property because potential buyers ot their propery could also be potential buyer of WingTai property?
Is this what you are implying?
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Junior
Sigh.....Go read up Companies Act on Director's Duties. Are all employees of Wing Tai on the Board of Directors as well?
3.2 In addition to his usual statutory duties, a director is required to: –
(a) act in good faith in the interests of the company;
(b) act with due care and skill;
(c) avoid conflicts of interests; and
(d) use his powers for proper purposes.
Duty to act in good faith in the company’s interest
Last edited by proper-t; 11-04-13 at 22:06.
Senior
Are you implying that as Director or Chairman of WingTai, investing in property is consider as conflict of interest? How do you explain Wee Cho Yaw or Kwek Leng Beng? They actually do it in massive scale. Why are they not prosecuted?
What about WingTai employment contract? I am sure in every employee's EC, there will be a clause which touch of conflict of interest isnt it?
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Junior
Why are you still trying to put words into my mouth. Pretty pathetic attempt.
Did I say that investing in property is considered a conflict of interest?
The only point I raised is that one of the reasons why CWK may not want to embark on this GCB redevelopment is because he may be of the mind that people may perceive a potential conflict of interest with his public interest. Some people may just not want to invite any attention at all even though the possibility of a conflict is debatable.
I am not privy to Wing Tai Employment contract. Like I said, we are discussing CWK and the GCB sale, not Wing Tai employees.
Senior
Obviously there is no conflict of interest and you are just saying this because you have got nothing better to say, and the explain why you cant even explain yourself clearly.
Conflict of interest? try writing to the authority loh because Wee Cho Yaw and Kwek Leng Beng are doing it openly and in direct competition with UOL and CDL.
What say you? Wee and Kwek, are not worry about "Perceive conflict of interest"
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Junior
You have obviously not been following the thread. I just explained the possibility of conflict in post #52.
Instead of coming up with a logical counter, all you can dish out is to accuse me of implying this and implying that.
Wee and Kwek's thinking and personality may be totally different from CWK. Why are you comparing them to CWK?
As long as there is a possibility that there could be a conflict of interest, he may be of that mind too and could be the reason why he has decided not to proceed with redevelopment of the GCB.
Unless you can prove that there is absolutely zero possibility of a conflict arising, then you cannot dispute my statement
Posting Permissions
Reply With Quote