insight
工程技術，地產投資，信仰家園，時尚生活
（2010-08-24）
| ● 吳慧敏 鄭維強在昨天的業績發布會上，對購地持謹慎的態度，因為他相信，購地的風險已經隨著地價和樓價的攀升，以及供地量的增加，而明顯提高。 吳慧敏 報道 永泰控股（Wing Tai Holdings）主席鄭維強認為，大眾化私宅市場或許隻有六至九個月的銷售“窗口”。 這家房地產公司自2007年買下Ascentia Sky地皮後，近年都沒有再添購地皮，不過鄭維強卻在昨天的業績發布會上，對購地持謹慎的態度，因為他相信，購地的風險已經隨著地價和樓價的攀升，以及供地量的增加，而明顯提高。 “我的解讀是，大眾化私宅市場已經到達一個飽和的水平。如果這是一年前，我們會去標地（雖然我們在當時選擇了保留現金，以鞏固財務實力），但由於地價已迅速攀升，現在去‘追’將非常危險——無論是大眾化或中檔私宅地皮。” 首都戲院地段除了要將擁有近百年曆史的首都戲院，保留做藝術或娛樂相關表演場地外，還必須將部分樓麵用作酒店和商場。永泰控股副主席鄭維榮在記者會後告訴本報，他也看好在該地段興建豪華共管公寓的潛能。 目前，永泰控股手頭上的未售單位，大多都是高檔豪華私宅項目。它計劃在近期內推出的新項目，主要是與城市發展合作的Anderson 18。與此同時，它也會繼續銷售已推出的Belle Vue和Helios項目剩餘40％和50％單位。 全年淨利暴漲666％ 永泰控股昨天發表了相當傲人的“成績單”，其全年稅後淨利暴漲666％，由2098萬元增加至1億6075萬元。 集團營收也上升64％至8億2185萬元，這主要歸功於Belle Vue和The Riverine by the Park的期款。至於營運盈利則跳漲620％至2億5440萬元，這主要是因為它前年出現了1億零970萬元的重估後虧損，去年卻在重估資產後，納入510萬元盈利。 永泰控股的負債對股本比率也由一年前的0.5倍，進一步改善至0.4倍。它手頭上持有的現金由3億8957萬元，提高至5億9405萬元。 截至今年6月30日，每股淨利為20.66分，每股淨資產值為2.18元。董事部建議派發每股3分的一次過年終股息和每股2分的特別股息。 他指出，其實不少發展商已經意識到，扣著項目不發的風險，比樓價可能繼續上升的空間來得大，所以都“快手快腳”地將剛剛買到的地皮推出市場銷售，而不是扣著不發，等樓價繼續攀升。 “現在你可以看到，更多項目想方設法在購地的六至九個月後推出，而不是以往的一年至一年半。” 鄭維強認為，如果公司接下來出高價爭奪地段，並在隨後六至九個月後推出項目，或許會被“卡”住。如果扣著不發，上升的空間也不大，因為大眾化私宅價格已經相當高。“以那個的價位，我們很可能無法度過這個周期。” 在上星期的首都戲院（Capitol Theatre）地段招標活動中，永泰控股提呈了兩份投標書，似乎對該地段誌在必得。 Wing Tai reports seven-fold rise in net profit to S$160.8mThe hot housing market has boosted the annual earnings of property developer Wing Tai Holdings. Its net profit for the financial year ended June, soared seven-fold to S$160.8 million from S$21.0 million in the previous year. Its fourth quarter net profit came in at S$68.9 million compared to a loss of S$53.8 million a year ago. Wing Tai’s property sales were the main drivers of its increased annual revenue. It achieved a 64 percent increase in its revenue to S$821.9 million. Its revenue a year ago was S$501.8 million. Wing Tai’s revenue for the fourth quarter, ended June, rose 17 percent to S$222.3 million from S$190.1 million in the same period a year ago. The property developer said the revenue increase was due to the sales of Belle Vue Residences and the progressive sale from The Riverine by the Park. At its results briefing, Wing Tai also said it expects a price correction of the upgraders market in the next six to 12 months. It added that the government will likely continue to release more land supply. But Wing Tai noted that this is not sustainable as it’ll eventually result in an oversupply in the market. It has seen a spillover price effect of the upgraders market to the mid-tier properties but warned that the upgraders market will likely come to a saturation point soon. So Wing Tai said it will continue to keep its focus on the mid- to high-end market for the long term. Tan Hwee Bin, Executive Director, Wing Tai Holdings, said: “We’re looking at the possibility of launching Belle Vue and Helios and possibly some projects at Admore area as well. Prices have already spilled over the mid-tier and now it’s moving on to the high end. We feel that this is probably the opportune time to launch some of these projects. If you look at our portfolio at this point in time, we have about 900,000 sellable area, GFA and about half are in the high-end market and about half are in the mid-tier market and that has consistently been our focus.” Singapore contributes about 70 percent of Wing Tai’s assets while the rest are in Hong Kong, Malaysia and China. Mr Tan said: “Going forward, taking a medium to long term view, we think that Singapore will be about 60 percent of our portfolio and the other countries will count for about 40 percent of our portfolio.” The Group is also keeping its eye on its two bids put in for the stretch of commercial sites along Stamford Road, which includes the Capitol Theatre. The site has attracted a total of 14 bids. Wing Tai said it’s expected to make its concept and design presentation for the area at the end of next month. Wing Tai is recommending a three cents per share for the first and final dividend. It is also recommending a special dividend of two cents per share for this year. Source : Channel NewsAsia – 23 Aug 2010 |
