insight
工程技术，地产投资，信仰家园，时尚生活
（2010-08-24）
| ● 吴慧敏 郑维强在昨天的业绩发布会上，对购地持谨慎的态度，因为他相信，购地的风险已经随着地价和楼价的攀升，以及供地量的增加，而明显提高。 吴慧敏 报道 永泰控股（Wing Tai Holdings）主席郑维强认为，大众化私宅市场或许只有六至九个月的销售“窗口”。 这家房地产公司自2007年买下Ascentia Sky地皮后，近年都没有再添购地皮，不过郑维强却在昨天的业绩发布会上，对购地持谨慎的态度，因为他相信，购地的风险已经随着地价和楼价的攀升，以及供地量的增加，而明显提高。 “我的解读是，大众化私宅市场已经到达一个饱和的水平。如果这是一年前，我们会去标地（虽然我们在当时选择了保留现金，以巩固财务实力），但由于地价已迅速攀升，现在去‘追’将非常危险——无论是大众化或中档私宅地皮。” 首都戏院地段除了要将拥有近百年历史的首都戏院，保留做艺术或娱乐相关表演场地外，还必须将部分楼面用作酒店和商场。永泰控股副主席郑维荣在记者会后告诉本报，他也看好在该地段兴建豪华共管公寓的潜能。 目前，永泰控股手头上的未售单位，大多都是高档豪华私宅项目。它计划在近期内推出的新项目，主要是与城市发展合作的Anderson 18。与此同时，它也会继续销售已推出的Belle Vue和Helios项目剩余40％和50％单位。 全年净利暴涨666％ 永泰控股昨天发表了相当傲人的“成绩单”，其全年税后净利暴涨666％，由2098万元增加至1亿6075万元。 集团营收也上升64％至8亿2185万元，这主要归功于Belle Vue和The Riverine by the Park的期款。至于营运盈利则跳涨620％至2亿5440万元，这主要是因为它前年出现了1亿零970万元的重估后亏损，去年却在重估资产后，纳入510万元盈利。 永泰控股的负债对股本比率也由一年前的0.5倍，进一步改善至0.4倍。它手头上持有的现金由3亿8957万元，提高至5亿9405万元。 截至今年6月30日，每股净利为20.66分，每股净资产值为2.18元。董事部建议派发每股3分的一次过年终股息和每股2分的特别股息。 他指出，其实不少发展商已经意识到，扣着项目不发的风险，比楼价可能继续上升的空间来得大，所以都“快手快脚”地将刚刚买到的地皮推出市场销售，而不是扣着不发，等楼价继续攀升。 “现在你可以看到，更多项目想方设法在购地的六至九个月后推出，而不是以往的一年至一年半。” 郑维强认为，如果公司接下来出高价争夺地段，并在随后六至九个月后推出项目，或许会被“卡”住。如果扣着不发，上升的空间也不大，因为大众化私宅价格已经相当高。“以那个的价位，我们很可能无法度过这个周期。” 在上星期的首都戏院（Capitol Theatre）地段招标活动中，永泰控股提呈了两份投标书，似乎对该地段志在必得。 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 |
