I don't think TM will turn in zero profit. Cost of construction delay is mainly restricted to the holding cost for the land. In this case, it's an approximate A$20m cost - not the kind of figures we see in Singapore. Meanwhile, CES would be collecting interest from the 10% downpayment received from buyers, and with 98% of the units sold, this should be quite a bit. In fact, assuming gross total sales is A$300m, that 10% amounts to A$30m, which is more than enough to pay for the land cost.
Since construction has not begun, I do not know of any other major costs involved that would lead to any serious bleeding for CES. A slight paper cut is all i suspect the injury is.
it will definitely not go to zero.
For the TM, Raymond mentioned that, when CEL sign the S&P agreement with the buyer, they have include almost all the worst situation into the agreement. The worst situation is that, Raymond expect the project fail.
What would CEL impact if this happen? According to him, he mentioned that, CEL will need to compensate back the buyer with the deposit with some interest. This could take as the reference on the delaying on the TM project, which initially target to finish at 2017 and now 2018. The delay has been brought up during early this year AGM, I think the resuming work at TM recently, is just nice to let CEL to finish the TM project at the early of 2018.
well，nowadays，you don't even need to be there to know something... friends in Melbourne, property investors in Melbourne, local news, local community forum, etc, all are your good information resources...
passing by ALex Centre this morning.
The surrounded working fence has been removed.
working is doing the planting.
how far from it opening? or TOP? Before Christmas?
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