iCann wrote: 100,000 housing units to be built next to Kallang River in next 20 years
Good news for those who have always wanted to live near a river: A total of 100,000 new residential units will be built next to Kallang River over the next 20 years.
Minister for National Development Mr Lawrence Wong said the new home units will be within 2km of both sides of the Kallang River, with Kampong Bugis being one of the key residential precincts.
He made the announcement Wednesday (Mar 29) at the launch of 'A River Runs Through It', an exhibition on the rejuvenation of Kallang River by the Urban Redevelopment Authority (URA).
The Kampong Bugis area is about 17 hectares in size, and is envisioned as a new residential precinct "that is people-centric and car-lite", said Mr Wong.
Also primed to be developed into a new waterfront housing area is Kallang Distripark, said the URA in a statement on Wednesday. As such, URA said it will introduce "vibrant commercial and recreational nodes along the river to provide more avenues for both work and play."
Older industrial estates can be transformed into new mixed-use areas, said Mr Wong in his speech this morning.
Congrats to all fellows who follow my early coverage on CNMC, Food Empire and Tat Hong since the start of this forum. Though I have sold some to recycle my capital, I am still vested in the above. Now my next target will be ETC Spore and Perennial Hldgs.
I think some big fish(insiders) are trying to accumulate the stock by blocking with big numbers of shares at 0.435 and 0.44 level while the massive turnover was done at 0.425, 0.43 and 0.435.
Who on earth with a sound mind will show the market his has ton of shares to sell without forcing the price to drop, thereby making his sales proceeds smaller??? Worst, he probably couldn't even unload!
You don't even get to see sellers force selling shares and buyers disappearing. Obviously, it's accumulation!
For every supply there must an equal demand, price being constant. --Newton's First Law of Economics.
Privatisation or buyout? I am still vested at 90% of my portfolio. The macro picture is too captivating to miss out on this one. Just my own thoughts, do your own diligence also.
A Green-shoot Property Developer with streams of projects in China providing a good Dividend Yield for you to get-paid-while-you-wait
The Board of Directors (the “Board”) of Figtree Holdings Limited wishes to announce that Figtree Developments Pte. Ltd. (“FDPL”), a whollyowned subsidiary of the Company, had on 8th March 2017, entered into a joint venture agreement (the
“Agreement”) with the existing shareholders of 重庆埔程物流有限公司 (“Pucheng”), who are unrelated third parties, to subscribe for a 20% stake in the enlarged share capital of Pucheng for a cash consideration of RMB20.0 million (the “Subscription”).
Vibrant Group Limited (“Vibrant”), the holding company of Singapore Enterprises Limited, which is a controlling shareholder of the Company, is also a joint venture partner subscribing for a 31% stake in Pucheng for a cash consideration of RMB31.0 million.
2. Information on Pucheng
Pucheng is a logistics company incorporated in Chongqing in the People’s Republic of China (“PRC”) since June 2014. Pucheng‘s operating site is situated at 重庆市江北区鱼嘴镇东风路 in Yufu Industrial Park,Liang Jiang New Area (两江新区) (“LJNA”). LJNA is located in the main City of Chongqing, to the north of the Yangtze River and east of the Jialing River. Pucheng operates about 65,936 square metres (“sqm”) of warehouses and 10,085 sqm of office block, dormitories and vehicle workshop facilities on a leased land area of approximately 189,810 sqm.
The principal business activities are those relating primarily to the leasing and management of the logistics hub and the provision of integrated multi-modal logistics operations. This strategic collaboration with Pucheng is intended to allow us, together with Pucheng, to bid to jointly develop the Multi-Modal Distribution and Connectivity (DC) Centre in LJNA which is in line with the announced Chongqing
Connectivity Initiative (CCI) between Singapore and PRC.
Upon completion of the shares subscription exercise and by way of capitalisation of the existing shareholders’ loans of RMB29.0 million, Pucheng’s share capital will be increased from RMB20.0 million to
RMB100.0 million. The unaudited net asset value of Pucheng as at 31 December 2016, after the completion of the shares
subscription by FDPL and Vibrant and the capitalisation of shareholders’ loans, will be approximatelyRMB91.7 million. The purchase consideration represents approximately a 9.05% premium over the share of the net asset value of Pucheng.
3. Rationale for Subscription
The current principal business activities of Pucheng are those relating primarily to the leasing and management of the logistics hub and the provision of integrated multi-modal logistics operations.
Pucheng will procure a 50 years leasehold right of the current site from the local government (the “Purchase”). The Company understands that the site has been earmarked by the local authorities for the Multi-Modal Distribution and Connectivity (DC) Centre in line with the announced Chongqing Connectivity
Initiative (CCI) between Singapore and PRC. The Company understands that the centre will coordinate and integrate logistics resources across neighbouring logistics centres and aims to enhance the trade flow inland and internationally. The Company intends to participate in the development of the logistic hub.
4. Purchase Consideration
Pucheng intends to increase the share capital from RMB20.0 million to RMB100.0 million of which the Group intends to have a 20% stake. The purchase consideration of RMB20.0 million (the “Consideration”) for the Subscription shall be fully satisfied in cash.
The Consideration shall be payable upon the completion of the Purchase. The Consideration was arrived after taking into account, inter alia, the prospects of Pucheng, commercial merits of the Subscription and the net asset value of Pucheng, of approximately RMB41.0 million. The Subscription will be funded by internal resources.
(a) Current Financial Period Reported On
Any dividend declared for the current financial period reported on?
Yes. Payment Date Undeclared
Name of Dividend : First and final
Dividend Amount per share : S$0.0125
Tax Rate : Tax-exempt The proposed first and final dividend for the financial year ended 31 December 2016 of S$0.0125 (31 December 2015: S$0.016) per share is subject to the approval of the shareholders at the forthcoming Annual General Meeting of the Company.
(b) Corresponding Period of the Immediately Preceding Financial Year
Any dividend declared for the corresponding period of the immediately preceding financial year?
Name of Dividend : First and final
Dividend Amount per share : S$0.016
Tax Rate : Tax-exempt
Proposed first and final dividend FY'16 S$3,945,703 FY'15S$ 4,681,810
Figtree’s joint venture unit acquires mixed development site
in Jiangyin, China for RMB225 million
SINGAPORE, 24 October 2016 – SGX Catalist-listed Figtree Holdings Limited (“Figtree” or the “Company” and together with its subsidiaries, the “Group”), a leading specialist in the design and build of commercial and industrial facilities, as well as property development, has acquired a mixed residential and commercial development site in the city of Jiangyin, Jiangsu Province, China, through its newly-formed joint venture company, Master Development (Jiangyin) Co., Ltd (江阴德輝置业有限公司) (“Master Development”).
The site, which was acquired for RMB225 million, has a total land area of 30,249 sqm with a maximum plot ratio of three (3). This works out to an average purchase price of RMB2,479 per sqm per plot ratio for this 70-year leasehold land.
Strategically located along 中山路, South of 环城南路 and North of 毗陵路, the site is
conveniently situated near hotels, schools, city garden and parks, public hospitals, other inner city residential districts, central commercial hub, and office buildings.
Master Development, in which Figtree has an effective interest of 24%, plans to develop 508 units of residential apartments, 148 units of commercial units and 400 basement car parklots.
Mr. Danny Siaw, Executive Chairman and Managing Director of Figtree said,
“With our success in the two earlier housing projects in the city of Jiangyin, we have
established a track record for our reliability and professionalism in property
development, and this acquisition will further strengthen our position in this city. We
hope to continue to ride on the growth momentum of this rapidly developing and
INDUSTRIAL LAND ACQUISITION IN CHANGSHU BY ASSOCIATED COMPANY, FERVENT
The Board wishes to announce that Fervent has acquired a 76,553 square meter (“sqm”) industrial land in Changshu High Tech Industrial Park, CEDZ, Jiangsu, for RMB24,114,195 or an average purchase price of RMB315 per sqm in a public land tender (the “Acquisition”) on 03 March 2017. This 50 years leasehold plot of land is next to Fervent’s first completed Changshu Fervent Industrial Park in Changshu, China, consisting of six blocks of standard light industrial factory and a five-storey multi-purpose facility.
The Group has an effective 32% shareholding interest in this Acquisition.
The land will be reserved for development of built-to-order industrial factories. The design & build of the factories will be customised to the specification of tenants. This Acquisition was funded from shareholders’ loans which were contributed in proportion to the joint venture partners’ equity portion and were on the same terms.
SINGAPORE: A subsidiary of Sapphire Corporation has secured a $92 million contract to build part of Beijing’s metro railway system.
Ranken Infrastructure will undertake work for 834m of the 29.6km Beijing Metro line 12. The project is slated for completion in over four years and is expected to have a positive impact on the company’s financial performance from FY 17.
“This new Beijing Metro Line contract is an extension of our involvement in the development of the capital city’s metro network, which reaffirms our strong track record in China’s rail infrastructure sector,” says Teh Wing Kean, Sapphire’s chief executive officer and managing director.
This contract win follows $180 million worth of contracts to design and build metro lines in other Chinese cities including Taiyuan and Chongqing. To date, Ranken’s order book remains at RMB2.8 billion ($571 million).
(Tat Hong has been involved with many infrastructure projects, including construction of nuclear plants in China. Source: Annual Reports)