Thus, I felt that it is good to find out who are the developers of these properties.
After all, I do have numerous developers in my portfolio (most probably will do an update on my portfolio soon) and hopefully none of the properties belong to the developers I have.
Another reason to list out these developers is to find out who they are and understand what are the various tactics they will take on. These tactics that they take on may positively or negative impact their share prices. This may then lead to opportunities for me to "pound" on.
Some of the tactics we have encountered developers to engage in, in order not to pay ABSD or Qualifying Certificates Charges, are as follows:
- Selling to a Singapore Subsidiary
- Selling to its parent company
- Bulk Sales
|As per Straits Time Article|
The Trilinq - IOI Properties Group (Parent Company is IOI Corporation Berhad one of Malaysia's biggest conglomerates)
Mon Jervois - Singapore Land Ltd (Parent Company is UIC Ltd)
Eco - Far East Organization, Frasers Centrepoint Ltd and Sekisui House Ltd
Kingsford Hillview Peak - Kingsford Development Pte Ltd (Parent Company is a Hong Kong registered company Kingsford Investments)
Stratum - Elitist Development Pte. Ltd
Vue 8 Residence - Publique Realty (Pasir Ris) Pte Ltd
Pollen & Bleu - Singapore Land Ltd (Parent Company is UIC Ltd)
Sant Ritz - Santarli Realty Pte Ltd (Majority interest from Santarli Group of Companies)
The Siena - Far East SOHO Pte. Ltd. (Parent Company is Far East Organization)
The Venue Residences - City Developments Ltd
The Crest - Wingcrown Investment Pte Ltd (Jointly developed by WingTai Land, Metro Australia Holdings Pte Ltd & Maxdin Pte Ltd)
The Glades - Sherwood Development Pte Ltd. (Parent Company is Keppel Land)
Sky Vue - Allamanda Residential Development Pte Ltd (Parent Company is CapitaLand Ltd)
Alex Residences - Singapore Land Ltd (Parent Company is UIC Ltd)
This post is mainly for my own knowledge as well and for reference in 2017 for new developers to add into my portfolio. Thus, I will ignore overseas developers and private limited developers listed above,
From the initial view, it seems that UIC Ltd and City Developments Ltd has been appearing more than once. In fact, UIC Ltd has 3 developments listed in the table.
However, the most important thing is to understand the percentage of units that has been sold out and the urgency of selling the remaining units.
Therefore, if I only take the first 3 months of 2017, UIC Ltd seems to be worst hit by the ABSD charges with Mon Jervois at only 58.7% sold.
If the first 6 months in 2017 is to be taken into account, UIC Ltd is, again, the worst hit with Mon Jervois as well as Pollen & Bleu with ONLY 12.3% SOLD!
This is followed by CapitaLand Ltd on the VUE 8 Residences with only 81.9% sold - Although the percentages seem high, but it remains 84 units yet to be sold.
This is not the first time I have talked about UIC Ltd. It is currently a deep value stock. It will be interesting to see what it will do to "escape" these charges and how it will affect its ultimate parent companies, UOB Kay Hian, UOL and UOB.
For those who are interested in the Enhanced Triple S Scorecard, do not hesitate to contact me directly.
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