Tuan Sing

Yesterday Dow Jones got nothing better to report.....
DJ MARKET TALK: Tuan Sing +14.9%; Still At Steep Discount To NAV



0339 GMT [Dow Jones] Tuan Sing (T24.SG) is +14.9% at S$0.27 on strong volume. Traders cite a column in today's Singapore Business Times paper, highlighting the property group as an undervalued stock, as a reason for the jump. Even at the current price, the stock trades at only 0.6X P/B, one of the lowest for Singapore developers. Interest picked up even before today's run-up, with the shares +9.3% since beginning December following Tuan Sing's success with 2 property acquisitions in Singapore: S$99.1 million for Serene House and S$123 million for a land parcel, both of which will be developed into housing projects. The company is also deemed a beneficiary of the growing interest in Singapore's office market, as it owns 2 properties in the central business district. Resistance is expected at S$0.30, last tested in May 2008. (frankie.ho@dowjones.com)

Flat today at 31.5 cents, but I have a feeling the upside is still very much there. What has changed the landscape is Tuan Sing's latest 2 property acquisitions, the impending redevelopment of its Robinson Towers and ... of course the bull market sentiment going forward. At 31.5 cents, there is lots of room for investors to buy up to 45 cents. People who compare this time with previous times when the run-up faltered after a few days are gonna be proven wrong.

As i said in previous posting..... Tuan Sing has touched 33.5 cents, up 2 cents.
I was waiting at 29 cents for a deep correction today (3 days contra period up) but looks impossible now.

This stock hit 39 cents on Jan 3, but has now corrected to just 33 cents.

Down 15% within 2 weeeks -- excessive correction.

Tuan Sing has been hit in the past 2 trading days becos of property tightening; However, the company is actually more into commercial play - it's building are along Robinson Rd which are ready for a makeover or redevelopment to extract higher value.

Singapore property developer Tuan Sing said its fourth
 quarter net profit rose 66 percent to S$37.4 million
 year-on-year. The firm said it plans to market launch the
 estimated 400 units at Seletar, one of the two residential sites
 it secured in Singapore, by the fourth quarter of 2011.

NAV 49 cents, stock price 31 cents.

Tuan Sing (30 cents) is a mid- to long-term play on the transformation of its Robinson Road and Market Street properties into spanking new office buildings with a higher plot ratio. Tuan Sing wants to ride on rising office rentals, instead of selling them outright.

Their intention is not confirmed. Tuan Sing could just decide to redevelop the buildings into high-end condos and reap a one-off big profit.
Stock was somewhere around 23 cents for a long time then it shot up to 39 cents in Jan this year. Now down to 30 cents, which is mid-way point.