Chip Eng Seng (CES)

Chip Eng Seng in agreement with UK Perse School to start Singapore branch

SINGAPORE (July 4): Chip Eng Seng’s wholly owned subsidiary, CES Cambridge (CESC) has entered into an agreement with The Perse School Cambridge International (TPSCI) regarding the establishment of an elementary school in Singapore.

TPSCI is a wholly owned subsidiary of The Perse School, an independent school in Cambridge, United Kingdom.

In an announcement on Wednesday night, Chip Eng Seng noted that The Perse School has rich historical and cultural roots, while being innovative at the same time, with an emphasis on quality education both inside and outside the classroom.

Chip Eng Seng in joint $47.5 mil investment of China distressed property company

SINGAPORE (June 15): Chip Eng Seng and controlling shareholder Haiyi Investment are jointly investing RMB240 million ($47.5 million) in a distressed property company based in Taicang city in Jiangsu province, China.

Chip Eng Seng says the investment will enable the project company to discharge its outstanding liabilities such that its assets will be unsealed and restart a project involving the development and construction of a residential development on a land area of 38,000 sqm, with a gross floor area of 111,111 sqm.

Chip Eng Seng posts 84% higher 1Q earnings of $11.3 mil on property development, hospitality segments

SINGAPORE (May 7): Property group Chip Eng Seng reported 1Q earnings of $11.3 million or 1.8 cents, 84.6% higher compared to $6.12 million, or 0.99 cents, a year ago due to higher sales.

Revenue rose 34.2% y-o-y to $267.3 million as property development segment grew 48.9%, driven by the Grandeur Park Residences and Park Colonial private-home projects here.

Hotel contributions also rose by 19.7%, lifted by contributions from the Mercure and Ibis Styles Grosvenor Hotel in Adelaide, which the group acquired in March last year.

Right timing: STI looks able to break out

SINGAPORE (Feb 1): Although the Straits Times Index moved sideways over the past five trading sessions, the index still looks able to challenge and break out above resistance and its 200-day moving average now at 3,238.

Volume has expanded, and quarterly momentum is on an uptrend. The 50- and 100-day moving averages have made positive cross, which should confirm the ability of the index to break out.

Why DBS remains cautious on Chip Eng Seng despite Kampong Java site win

SINGAPORE (Jan 17): DBS Group Research is forecasting property transaction volumes to fall 20% y-o-y to 7,500-8,500 units in 2019, and says it is possible for the property price index (PPI) to decline by up to 3% this year, and even further, should macro conditions worsen.

The research house currently has a “hold” call on developer Chip Eng Seng (CES) with a target price of 75 cents, which has yet to factor in the group’s ongoing acquisition of a land parcel at Kampong Java.

DBS keeps Chip Eng Seng at 'fully valued' following positive 2Q earnings results

SINGAPORE (Aug 6): DBS is reiterating its “fully valued” recommendation on construction and property group Chip Eng Seng (CES), with a target price of 75 cents.

This came following the group announcing that it has turned over earnings of $11.1 million in 2Q18, compared to a loss of $2.56 million in 2Q17 post restatement.

This brings 1H18 earnings to $17.2 million, 181.9% higher than $6.09 million a year ago.

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