2nd Liner Prop Stocks

KSH has 2 positive announcements today:

1. Prof Yip has raised his stake above 6% with yesterday's purchase of 447,000 shares.

2. KSH has commenced share buyback with purchases today of 460,000 shares are 52ct.

The 2 purchases are positive in that it shows a major "minority" shareholder as well as the company itself see value in the stock even at current levels, in spite of the market rout and pessimism about the physical property market.

I also like the fact that the share buyback has commenced. I cannot recall if KSH has ever done one.

Just knew that Sembawang Public Library had just reopened at The Sun Plaza last month. Eagerly waiting to see the newly renovated Sun Plaza next year with higher rental revenue for Heeton and Koh Bro.

www.littledayout.com/blog/sembawang-public-library-reopens.html

Sinarmas Land is taking profit (big profit) on its London building. After the market closed yesterday, it announced its sale at S$233.7 million what it bought at S$161 million.

Gross profit : S$72.7 million.

In just 1.5 years!

infopub.sgx.com/FileOpen/SML30-12-12-201...cement&FileID=328133

The property is a freehold Grade A office building located at Great Queen Street. It comprises of a 12-storey tower connected to a nine-storey wing and has a net lettable area of 99, 911 square feet.

Is this a sudden twist or we do not need to worry too much?

Mr Raymond chia of Chip Eng Seng has tendered his resignationation wef 31Dec14, staying another 3 months to smooth transition.

He is the CEO, ED chairman as well.

Mr Chia is the son-in-law of Mr Lim Tiam Seng, the Executive Chairman and a substantial shareholder of the Company.

Mr Chia is the nephew-in-law of Mr Lim Tiang Chuan, the Executive Deputy Chairman and a substantial shareholder of the Company

Mr Chia is the brother-in-law of Ms Dawn Lim Sock Kiang, an Executive Director of the Company.

Mr Chia is the husband of Ms Judy Lim Sock Joo, a Director of CEL Development Pte. Ltd.

Mr Chia is the nephew-in-law of Mr Lim Tian Back, a Director of Chip Eng Seng Contractors (1988) Pte. Ltd., Evervit Development Pte. Ltd. and CES Engineering and Construction Pte. Ltd.

Mr Chia is the nephew-in-law of Mr Lim Tian Moh, a Director of CES-Precast Pte. Ltd. and Chip Eng Seng Contractors (1988) Pte. Ltd

It might drop more in the weeks ahead...This morning dropped to 83.5

Not sure if the company would continue with the share buyback with the resignation of CEO.

The resignation of the CEO at such a critical junction is indeed puzzling. Why would CEO want to give up such a "good job"? The market will never know the real reasons...


Recent negative events
1. Unsold units at Fulcrum
2. Malacca deal called off
3. TM dispute
4. Resignation of CEO
5. TOP of Alex Mall on time?