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Sing Holdings’ Lee brothers pick up shares as Parc Botannia moves at steady clip

Chan Chao Peh
Chan Chao Peh6/25/2018 07:30 AM GMT+08  • 4 min read
Sing Holdings’ Lee brothers pick up shares as Parc Botannia moves at steady clip
SINGAPORE (June 25):  he Lee brothers at the helm of developer Sing Holdings have been steadily nibbling shares on the open market as the company enjoys steady sales of its latest residential project Parc Botannia.
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SINGAPORE (June 25): he Lee brothers at the helm of developer Sing Holdings have been steadily nibbling shares on the open market as the company enjoys steady sales of its latest residential project Parc Botannia.

On June 18, Lee Sze Hao, the company’s managing director and CEO, bought 121,000 shares at an average of 42.413 cents each, bringing his direct stake to 13.9 million shares, or 3.47%. The purchase also brings his total interest, which includes a deemed stake held via an entity called FH Lee Holdings, from just over 156 million shares to nearly 156.2 million shares, or 38.94%.

Lee’s recent purchases at an average price of 42 cents each is at a significant discount of a third off its net asset value of 63.86 cents as at March 31. Like many property plays, Sing Holdings experiences lumpy earnings. For FY2013 ended Dec 30, the company booked earnings per share of 7.19 cents. This figure plummeted to 0.01 cent for the following year, before surging to 5.07 cents and 6.55 cents for FY2015 and FY2016 respectively. For the most recent FY2017, EPS dropped to 0.82 cent. The company’s NAV has been steadily growing, though. From 56.25 cents in FY2013, NAV in FY2017 reached 63.53 cents.

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