KGI Securities (Singapore) report: Lee Sze Hao, CEO of Sing Holdings: His direct and indirect interest in the company has risen by 1.318 million shares in March-April this year. NextInsight file photo.The group launched the sale of its 735-unit private residential project Parc Botannia at Fernvale Road in November 2017. It has already issued options to purchase up to 43% of the units as of 26 Feb 2018, just four months within launch. We estimate an average selling price (ASP) of S$1,250 psf, which is 25% higher than our initial estimates of S$1,000 psf.
As a result, we raise our RNAV estimate to S$0.98 and apply a 30% discount to arrive at a fair value of S$0.68 (+55% upside potential).
Watch video of the project --> |
||||||||||||||||||||||
