Latest news with #WingTaiHoldings
Independent Singapore
7 days ago
- Business
- Independent Singapore
‘We're fast becoming like Hong Kong now': Wing Tai Holdings' 88% sold River Green condo draws flak over ‘very small' 980 sq ft four-bedders
SINGAPORE: Property developer Wing Tai Holdings' River Green residential project launch saw brisk take-up, with 88% of its units gone the day after it launched on Saturday (Aug 2). However, the project has since drawn flak over its 'very small' 980 sq ft four-bedroom units. By 6 p.m. on Sunday (Aug 3), buyers had taken up 460 units of the 524-unit development in District 9, making it the best-selling project in the Core Central Region (CCR) so far this year, according to Huttons Asia CEO Mark Yip, as reported by EdgeProp Singapore . Units were sold at an average price of S$3,130 per square foot (psf), with 98% of buyers being Singaporeans and Permanent Residents (PRs), and the rest foreigners. 'All units were well received,' the developer added. PropNex CEO Kelvin Fong said more than 90% of the two-, three-, and four-bedroom units were taken up at the launch. Mr Yip added that the larger units were especially popular, with only seven of the 104 three-bedroom units and two of the 35 four-bedroom units left. According to EdgeProp Singapore's report in early July, 53% of the development was made up of two-bedroom units, which range from 527 sq ft for typical layouts to 657 sq ft for two-bedroom plus study units. Three-bedroom units, as well as one-bedroom and one-bedroom plus study units, each made up 20% of the development—three-bedders ranged from 786 to 883 sq ft, while the one-bedroom and one-bedroom plus study units have 420 sq ft and 452 sq ft, respectively. The remaining 7% were four-bedroom units at 980 sq ft. While nearly sold and 'well received' by buyers, netizens online were surprised by the 'very small' sizes of the units. One commenter wrote, 'Four bedders at 980 sq ft? That's just 91 sq m! One of those bedrooms can only fit a single bed, maybe squeeze in a wardrobe…Some two-bedders that are 527 sq ft; that's just 49 sq m!' 'This is very small. Even for a three-bedder, it's just barely enough,' said another commenter. Others compared the sizes with older condos, saying even their two-bedroom homes were larger. One commenter noted that their own two-bedroom unit is 1,200 sq ft and already feels cramped, questioning how four bedrooms could fit into something smaller. 'Can all four of those bedrooms even accommodate a wardrobe and a bed? ' he added. A few compared the situation to Hong Kong, with one saying, 'We're fast becoming like Hong Kong now,' with another adding, 'We definitely don't want to head in that direction.' Others, however, were not surprised. One user pointed out that the pricing is cheap when looked at as a whole because the four-bedroom units are only 980 sq ft. However, he warned that while this might sound good for investors, it could be 'bad for the country' if the trend goes on. 'Can you imagine a day where all of the new four-bedroom condos and five-room flats are as small as 900+ sq ft? Can you imagine a whole family of six in such a small space?' he said. Singapore's property 'shrinkflation' has been happening since 2010, a trend analysts link to developers adjusting to loan restrictions, property cooling measures, and changing buyer demands. According to Cushman & Wakefield, the median size of new non-landed homes in Singapore fell by 10.6%, from 1,012 sq ft in 2010 to 904 sq ft in 2024. The decline was even steeper in prime areas, where average unit sizes shrank by 20.6% to 829 sq ft. /TISG Read also: Is Sheng Siong's upcoming Orchard Road outlet at The Cathay a shift from its 'core identity' of serving heartland communities?
Business Times
25-05-2025
- Business
- Business Times
Riverstone and Ho Bee Land chairmen make fresh share purchases
[SINGAPORE] Over the five trading sessions from May 16 to 22, institutions were net sellers of Singapore stocks, with net institutional outflows of S$65 million, adding to net outflows of S$55 million for the preceding four sessions. This brings the net institutional outflow for the 2025 year to May 22 to S$1.73 billion. The stocks that had the highest net institutional outflows over the five sessions were DBS , OCBC , Yangzijiang Shipbuilding Holdings , UOB , Mapletree Industrial Trust, CapitaLand Ascendas Reit , Genting Singapore , Frasers Logistics and Commercial Trust , Sats , and Thai Beverage . Leading the net institutional inflows were Singapore Airlines , ST Engineering , Singapore Exchange , CapitaLand Integrated Commercial Trust , Hongkong Land , SIA Engineering , Sembcorp Industries , Seatrium , Wilmar International , and UOL Group . From a sector perspective, financial services and real estate investment trusts (Reits) experienced the highest net institutional outflow, while industrials and real estate (ex-Reits) had the most net institutional inflows. In the five sessions, 18 primary-listed companies made buybacks with a total consideration of S$67.6 million. Secondary-listed Hongkong Land conducted share repurchases in each of the five sessions, with 2,395,200 shares bought at an average price of US$5.19 apiece. The manager of ESR-Reit also bought back 338,700 units at an average price of S$2.19. More than 70 director interests and substantial shareholdings filed for more than 30 primary-listed stocks. Directors or CEOs filed 16 acquisitions, and no disposals, while substantial shareholders filed nine acquisitions and six disposals. This included director or CEO acquisitions in Asian Pay Television Trust , Cosmosteel Holdings , Ho Bee Land , Mapletree Industrial Trust, Megachem , Niks Professional , Riverstone Holdings , Sinostar Pec Holdings and Wing Tai Holdings . BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Cosmosteel Holdings Between May 20 and 22, Cosmosteel Holdings executive director and CEO Jack Ong acquired 6,050,000 shares at an average price of S$0.219 apiece, increasing his direct interest from 14.50 to 16.81 per cent. Ong leads corporate strategy and drives sales to major end-users and oil majors. Since joining in 1998, he has built deep expertise in the group's operations and logistics in the steel industry. On May 15, Evolve Capital Advisory, on behalf of 3HA Capital, announced a voluntary conditional cash offer for all issued and paid-up ordinary shares of Cosmosteel Holdings at S$0.20 apiece. Ong, his brother Ong Tong Yang and father Ong Chin Sum have since raised queries to the offeror to ensure that all shareholders have the necessary information to assess the offer. Wing Tai Holdings Wing Tai Holdings chairman and managing director Cheng Wai Keung continued to raise his deemed interest in the company from 61.72 to 61.78 per cent, through shares bought by his spouse, Helen Chow. Riverstone Holdings Between May 20 and 22, Riverstone Holdings founder, executive chairman and chief executive officer Wong Teek Son acquired 1.5 million shares at an average price of S$0.717 per share. This increased his total interest in the Malaysian-based leading clean room gloves manufacturer from 51.34 to 51.44 per cent. His preceding acquisitions on the open market were in December 2021, when 2.79 million shares acquired. The preceding acquisitions were acquired over nine transactions, which began at S$0.607 a piece on Dec 10, and ended on Dec 29 at S$0.725 apiece. Wong has played a key role in growing the group's client base and strengthening global ties. He also leads business strategy and oversees group operations. His more recent acquisition follows the Q1 FY2025 business update, which reported a revenue gain of 1.1 per cent from Q1 FY 2024, while net profit declined 21.8 per cent to RM56.4 million (S$17.1 million) from RM72.2 million. Riverstone Holdings sells in US dollars, and the US dollar/ringgit exchange rate was 5 to 6 per cent weaker in Q1 FY2025 versus Q1 FY2024. FY2024 revenue thus increased 17 per cent from FY2023 to RM1.07 billion, while net profit climbed 30 per cent to RM287 million. Nitrile gloves remain the group's main revenue driver while the United States, South-east Asia, and Europe are its key markets. At the FY2024 annual general meeting in April, Wong said that the company has added new clean room customers, and is expanding to boost capacity and order flexibility. Since the pandemic, he noted, healthcare buyers have shifted to smaller, more frequent orders – especially in Japan and Australia. Wong said that Riverstone's single production lines suit this trend well, and supported the company's strategy to deliver customised products quickly and efficiently. Wong also highlighted that the company secured two new contracts for healthcare products last year, with anticipated double-digit percentage growth for this year. This means its current order book stands at approximately 700 million units per month, encompassing both clean room and healthcare products. Ho Bee Land Between May 16 and 20, Ho Bee Holdings acquired 129,200 shares of Ho Bee Land at S$1.75 apiece. This increased its deemed interest of Ho Bee Land executive chairman Chua Thian Poh from 75.63 to 75.65 per cent. Since reporting its FY2024 (ended Dec 31) turnaround net profit of S$109.7 million that was driven by increased revenue and divestment gains in late February, Chua has increased his deemed interest from 75.59 per cent. Chua noted that the group's development projects in FY2024 saw strong demand, especially in Australia, while commercial properties in Singapore and London stayed highly occupied, ensuring steady rental income. Ho Bee Land's FY2024 revenue rose 19 per cent from FY2023 to S$528 million, boosted by contributions from Elementum. As a mixed-use 12-story development in Buona Vista, Elementum was completed at the end of FY2023 and integrates biomedical facilities, offices and retail spaces. It achieved more than 90 per cent occupancy within the first year of operations. In August 2024, an Asian sovereign wealth fund (SWF) acquired a 49 per cent stake in Elementum. Beyond the deal, Ho Bee Land also formed a strategic partnership with the SWF, opening doors to wider collaboration and future growth opportunities. In FY2024, Ho Bee Land also issued its first S$160 million green bond and made solid strides in cutting emissions – keeping pace with its FY2026 reduction goal. Mapletree Industrial Trust On May 20, Mapletree Industrial Trust Management non-executive chairman Cheah Kim Teck acquired 100,000 units of Mapletree Industrial Trust (MIT) at S$1.93 per unit. This increased his direct interest in the Reit to 350,000 units or 0.01 per cent. His preceding acquisition was in September 2022 with 100,000 units acquired at S$2.47 per unit. On May 19, chief executive officer and executive director Lily Ler also increased her MIT deemed interest by 75,000 units at S$1.94 per unit. On May 16, the manager of MIT proposed a divestment of three Singapore industrial properties which supports its strategy of recycling capital into higher-value opportunities while enhancing portfolio resilience. Post-divestment, Singapore will still represent approximately 44.4 per cent of MIT's assets under management. Pending re-investment, the approximate S$523.8 million proceeds will be used to repay borrowings, lowering leverage and interest costs. Sinostar PEC Holdings Between May 19 and 21, Sinostar PEC Holdings executive chairman and CEO Li Xiang Ping acquired 800,000 shares acquired at S$0.142 apiece. This increased his deemed interest in the China-based producer and supplier of downstream petrochemical products from 69.38 to 69.46 per cent. In April, Li acquired 880,000 shares. Since the end of 2019, he has raised his deemed interest from 57.80 per cent, primarily through a rights issue earlier this year. On May 12, Sinostar PEC Holdings reported a Q1 FY2025 (ended Mar 31) net profit of 45.1 million yuan (S$8 million), representing a decrease of 48.9 per cent from Q1 FY2024, primarily attributable to less market demand for its products. In addition, the preceding Q1 FY2024 net profit maintained a high base of 88.4 million yuan, compared to 13.2 million yuan in Q1 FY2023 and 50.3 million yuan in Q1 FY2022. The group noted that while China's polyolefin sector faces pressure from rising supply and slower demand, which may squeeze margins, it believes demand for high-end polypropylene is expected to grow, driven by electric vehicle, green consumption and supportive policies. The group maintains it will remain focused on premium products, tech investment and adapting to market shifts. The writer is the market strategist at Singapore Exchange (SGX). To read SGX's market research reports, visit
Yahoo
18-03-2025
- Business
- Yahoo
Wing Tai Holdings Limited's (SGX:W05) largest shareholders are private companies with 51% ownership, individual investors own 30%
Wing Tai Holdings' significant private companies ownership suggests that the key decisions are influenced by shareholders from the larger public 52% of the business is held by the top 3 shareholders 12% of Wing Tai Holdings is held by insiders If you want to know who really controls Wing Tai Holdings Limited (SGX:W05), then you'll have to look at the makeup of its share registry. With 51% stake, private companies possess the maximum shares in the company. Put another way, the group faces the maximum upside potential (or downside risk). Meanwhile, individual investors make up 30% of the company's shareholders. In the chart below, we zoom in on the different ownership groups of Wing Tai Holdings. View our latest analysis for Wing Tai Holdings Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index. We can see that Wing Tai Holdings does have institutional investors; and they hold a good portion of the company's stock. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Wing Tai Holdings' historic earnings and revenue below, but keep in mind there's always more to the story. We note that hedge funds don't have a meaningful investment in Wing Tai Holdings. The company's largest shareholder is Wing Tai Asia Holdings Ltd, with ownership of 29%. With 12% and 11% of the shares outstanding respectively, Empire Gate Holdings Ltd. and Wai Keung Cheng are the second and third largest shareholders. Wai Keung Cheng, who is the third-largest shareholder, also happens to hold the title of Chairman of the Board. After doing some more digging, we found that the top 3 shareholders collectively control more than half of the company's shares, implying that they have considerable power to influence the company's decisions. While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. As far as we can tell there isn't analyst coverage of the company, so it is probably flying under the radar. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group. It seems insiders own a significant proportion of Wing Tai Holdings Limited. Insiders have a S$108m stake in this S$893m business. We would say this shows alignment with shareholders, but it is worth noting that the company is still quite small; some insiders may have founded the business. You can click here to see if those insiders have been buying or selling. With a 30% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Wing Tai Holdings. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run. It seems that Private Companies own 51%, of the Wing Tai Holdings stock. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company. I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. For example, we've discovered 1 warning sign for Wing Tai Holdings that you should be aware of before investing here. If you would prefer check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, backed by strong financial data. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
