Junior
The facts are:
CCR properties really lag the market for the past 3 years.
OCR properties are really the winner in these last 3 years!
Congrats to those who managed to catch the right wave...
What will happen in the next 3 years?
Will CCR languish again while OCR go up another 47%?
Senior
wait long long neck long longOriginally Posted by teddybear
Yes you are right! Developers are super-bullish on CCR condos over the long-term, that is why they are willing to hold on to the completed & TOP CCR properties unless they can sell at a good price.
SC Global owner take the opportunities to privatise cheap cheap when CCR properties are at one of lowest premium to OCR properties (because SC Global only hold CCR properties). I believe he look at the long-term, and the long-term bold well for CCR properties, if you believe in the investment acutement of SC Global owner.
On the other hand, do you see developers willing to hold on to OCR properties for the long-term? Not Capitaland, not Keppel Land, not Wheelock, not SC Global, not even Ho Bee!
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Newbie
Bro Teddybear, I think Bro Hopeful is being sarcastic leh.... SC Global obviously privatise to avoid paying the penalty for developers with foreign shareholders....Even a peasant like me can see that.
Junior
actually brudder teddybear is right...
All the developers can lower their selling price and yet make lotsa money on their CCR new condos. All the enbloc land price is max 2k psf... many of them actually enbloc at much lower like 1500+psf...
But they choose to hold on to them coz its freehold and it can wait till the market turn up for luxury properties...
I am sure if new condos in CCR sell at 2300psf sure got buyers right, but the developers choose to hang on...
I am not saying this coz my nick is CCR, its the truth, if the developers sell all these at massive discount, what happens? no more freehold land in CCR to sell when the luxury markets picks up again and they have to buy enbloc land at evern higher price now...
So what they do now is to just hold on to it, while make money by quickly churning the OCR properties so that they still can make profits esp for public listed companies...
And slowly wait for the right buyers to come for their CCR properties...
I think if forummers are objectives, most will agree this is what is happening
Senior
Sim Lian project going to be launch soon...
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Global recession is coming....
Saw you post too late, CCR has already made a very good reply to your question.
As to your comments about SC Global privatise just to avoid paying penalty for developers with foreign shareholders, why would SC Global's Mr Cheong want to privatise a company that he can't have significant profit out of it later? Why so troublesome and put all his eggs into 1 basket by privatising SC Global?
For much lower risks and easy job, he might as well just sell all those CCR properties that SC Global is holding so that SC Global will hence have ZERO PENALTY with foreign shareholders, and he can just sit back and relax as kiao-ka CEO and collect fat cheques (paid 50% by other shareholders) and fat bonus and incentive shares/warrants (courtesy of other shareholders again)!
Furthermore, after selling all SC Global holding's CCR properties, SC Global will be so cash-rich to pay top bid for govt GLS land and make a quick flip by selling all these properties on paper only! Easier job isn't it? Let other people hold the babies! Why would he want to hold the babies that nobody want and he can't make a big profit out of them?
Junior
but SC Global never had a blue fin tuna being cut up in their showrooms, so its CCR developments aren't as happening as some OCR localeSaw you post too late, CCR has already made a very good reply to your question.
As to your comments about SC Global privatise just to avoid paying penalty for developers with foreign shareholders, why would SC Global's Mr Cheong want to privatise a company that he can't have significant profit out of it later? Why so troublesome and put all his eggs into 1 basket by privatising SC Global?
For much lower risks and easy job, he might as well just sell all those CCR properties that SC Global is holding so that SC Global will hence have ZERO PENALTY with foreign shareholders, and he can just sit back and relax as kiao-ka CEO and collect fat cheques (paid 50% by other shareholders) and fat bonus and incentive shares/warrants (courtesy of other shareholders again)!
Furthermore, after selling all SC Global holding's CCR properties, SC Global will be so cash-rich to pay top bid for govt GLS land and make a quick flip by selling all these properties on paper only! Easier job isn't it? Let other people hold the babies! Why would he want to hold the babies that nobody want and he can't make a big profit out of them?
Newbie
Simon Cheong probably worked out that privatising the company was cheaper than paying the penalty? Wheelock also realised that getting out was better than dying together, and decided to sell off, rather than to be delisted with no market value (bcos free float < 10%).
That said, you are right that Simon Cheong is waiting again for the day that CCR properties will catch up. The big question is when the day will come. 3 years, 5 years, 10 years?
Junior
Sim Lian project going to be launch soon...
again, happening in the west. too bad don't have a brothels.
Senior
SC is stuck between a rock and a hard place. On one hand there is tax penalty, on the other hand he cannot afford to tarnish his SC Global reputation by giving massive discount to move their super highend project. So the best way forward will be to delist the company and take it private.
Having said that, we need to remember that most of SC Global projects luxury and ultra luxury development which have been in the market for many years; way before the recent TDSR and some other cooling measures. I reckon that the reason why its not moving is because there are not enough well heeled tenants in Singapore to live in these kind of apartment. And this could be due to corporate restructuring in banking industry, where bonus, allowance and budgets have been cut.
I think SC Global is prepare to hold their project for long haul and perhaps rent out those unsold units to generate some income. But for such highend and over the top kind of project, it will get out of fashion very quickly.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Newbie
More and more Jurong HDB flats are selling at below valuation. Feeling nervous?
developers are obviously very bullish on the potential in the west...
Junior
not nervous lah, they are selling below valuation so that they can spend $$ to makan blue fin tuna sushi
Newbie
BEWARE!!!!!
I think the thread starter has done a great injustice to the west with all his nonsense and hyperbole. It wouldn't have attracted half the crap if he'd have just kept it in the realm of reality.
Newbie
prepared by R33's japanese HDB neighbour who just talked to him the other day about the infinite potential of Jurong - so many others are talking about it too. Every bar and restaurant I go to it's THE No1 topic on discussion by all.
Senior
I am pretty sure the developers behind those bids are well aware of the market potential for residential property in Jurong, one of the largest employment hub in Singapore.
Plus, what does resale HDB price has got to do with EC, when EC is targeted at sandwiched class first timer who doesnt qualify for BTO.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Senior
You can continue to amuse yourself with your own little fairytale but please dont act blur on my question on best and worst street leh.prepared by R33's japanese HDB neighbour who just talked to him the other day about the infinite potential of Jurong - so many others are talking about it too. Every bar and restaurant I go to it's THE No1 topic on discussion by all.
All Fart No Shit huh???
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Junior
prepared by R33's japanese HDB neighbour who just talked to him the other day about the infinite potential of Jurong - so many others are talking about it too. Every bar and restaurant I go to it's THE No1 topic on discussion by all.
every bar and restaurant?! wow!! you better show proof that you went to these bars and restaurants, or else the moron will demand to know when you visited them.
still can't get over blue fin tuna = happening. to the sua gu, i'm surprised your so-called "japanese neighbours" didn't educate you that they have access to top grade fish and sushi on a daily basis.
Senior
I also wonder why people bother to fly all the way to Japan fish market to see blue fin auction..kamgong right? (that if we assume he was really there in the first place)
Somemore dont even understand the meaning of WHEN and WHERE. then want to kpkb...
Last edited by Ringo33; 10-01-14 at 07:45.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Junior
The best barometer of whether j gateway is now over priced is simply to wait for the launch of MCL next launch at jurong east.... If launch at 1500 psf and still got takers then ok j gateway still good
Newbie
ha ha!! you are so stale and predictable.
Everybody can read what you have written.
Everybody can see what I have written.
nobody is in doubt about who is making "facts" up (japanese neighbour in your humble HDB -fairytale is all yours - as written by you!)
nobody is in doubt who has answered your stupid question to death.
nobody is in doubt you are just too stupid to understand simple answers.
nobody is doubt you can't even click on simple links provided to answer your question
nobody is in doubt that you cannot understand simple answers to simple questions.
nobody is in doubt about your pathetic diversionary tactics of never answering a question & attempting to drag the conversation off at a tangent to topics that have already been addressed countless times every time you put yourself into an awkward situation & get called on it.
nobody is in doubt that you are incredibly unoriginal and can only copycat things I say (your sig & All Fart No Shit) - I shouldn't mind , I suppose it's OK for you to look up to your betters.
what we all have doubt is - did you actually buy a unit at JG? how much psf? you never saywhy so shy?
you really give a very poor account of yourself here - but please carry on. You are a highly amusing individual & the free entertainment you provide here is actually priceless. You are the most amusing poster to condosingapore since Basic!
Senior
ha ha!! you are so stale and predictable.
Everybody can read what you have written.
Everybody can see what I have written.
nobody is in doubt about who is making "facts" up (japanese neighbour in your humble HDB -fairytale is all yours - as written by you!)
nobody is in doubt who has answered your stupid question to death.
nobody is in doubt you are just too stupid to understand simple answers.
nobody is doubt you can't even click on simple links provided to answer your question
nobody is in doubt that you cannot understand simple answers to simple questions.
nobody is in doubt about your pathetic diversionary tactics of never answering a question & attempting to drag the conversation off at a tangent to topics that have already been addressed countless times every time you put yourself into an awkward situation & get called on it.
nobody is in doubt that you are incredibly unoriginal and can only copycat things I say (your sig & All Fart No Shit) - I shouldn't mind , I suppose it's OK for you to look up to your betters.
what we all have doubt is - did you actually buy a unit at JG? how much psf? you never say
you really give a very poor account of yourself here - but please carry on. You are a highly amusing individual & the free entertainment you provide here is actually priceless. You are the most amusing poster to condosingapore since Basic!
If you want to act blur there is no need to write so much bs. Fart so much still no shit.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Junior
did i say i flew all the way to japan just to look at tsukiji? kam gong?! heard of the term "holidaying"?I also wonder why people bother to fly all the way to Japan fish market to see blue fin auction..kamgong right? (that if we assume he was really there in the first place)
Somemore dont even understand the meaning of WHEN and WHERE. then want to kpkb...
so speakth the moron who failed PSLE english, and your japanese neighbours didn't tell you what grade of fish and produce they have in japan?! sua gu kam gong
Senior
So bluefin tuna cutting in Singapore is not big deal but flying to japan to see same fish auction is justifiable.
You must be one of the most kamgong in this forum. Choking on your own stools you still don't know.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Junior
whoa piang!!! said so many times it's holidaying and yet you're psychedelically raving about a fictious scenario you imagined about.
not only you need to go for english lessons, you need to get your brains checked. oh wait, it's just a void in your cranium......no hope
Senior
a) Did you said that Blue Fin tuna event at Jurong East was no big deal, or not a happening event?
b) Did I not ask you WHEN was the last time you saw a bluefin tuna being cut up by Sushi chef?
c) Did you not mistaken then meaning of WHEN for WHERE and say that you been to Tsukiji fish market. Yes, i ask you WHEN not WHERE
d) Did you not realize how dumb you were when you say that bluefin tuna cutting is no big deal while at the same time you say you go all the way to Japan fish market to see bluefin auction.
Kamgong will always be kamgong regardless how hard you try.
Last edited by Ringo33; 10-01-14 at 15:35.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Newbie
Owners in the West beware!! Reply to Thread
Great Piece of Information, thanks for sharing...!!
The Riverbank Condo @ Fernvale
Senior
Beware, 3000+1000 new jobs will come to jurong by end of the year.
http://www.channelnewsasia.com/news/...ng/951056.html
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Junior
You did not minus off those who lose their job in other sector. Its happening everyday especially in the west.
Beware, its happening.
Senior
Rental demand is still good in the west. I have been receiving many SMS from agents with tenants who want to view. It should be even better as JLD becomes more developed.
Newbie
Today Sunday Times Life has an article on the Jurong magnet.
Good publicity for JLD.
Posting Permissions
