GoldenCity P1 Aug2016 optGolden City, a luxury development in Yangon, was 49% acquired by ETC Singapore for US$24.9m in Oct 2016. Photo: Company NextInsight and several analysts are headed to Yangon, Myanmar tomorrow (20 March) to check out ETC Singapore’s luxury property project called Golden City.

TanThiamHee CU 2.2016ETC's chief executive officer, Tan Thiam Hee, will also be on the trip.We will also have opportunities to speak with project managers for insights into the evolving dynamics of the Yangon property market.

ETC Singapore is the new name of Cedar Strategic after it shed several legacy issues, cleaned up its balance sheet and started generating profits.

ETC stands for Emerging Towns & Cities, which reflects its property-related interest in emerging markets.

ETC seeks short-term property development profit as well as recurring rental income.

ETC Singapore  11.3 cents
52-week range 2.5-16 cents
Market cap S$94 million
PE (ttm) 5.8
Dividend yield --
Year-to-date return 38%
Source: Bloomberg

Acquired last year (2016), Golden City made its maiden contribution with a bang.

For FY2016, RMB 570.2 million was recognized from the sale of 205 units. (As at 31 Dec 2016, 230 additional units have been sold but yet to be recognised.)

At its other project -- Daya Bay holiday resort in Guangdong, China -- RMB 138.7 million was recognized from the sale of 232 units.

Profit attributable to shareholders in 2016 multiplied 8.5 times to RMB 63.9 million.

Look out for our reports and photos!

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