Wheelock Properties

Parent company garners 90.1% stake in Wheelock Properties at close of offer; starts delisting process
SINGAPORE (Oct 2): Wheelock and Company will proceed to delist Wheelock Properties (Singapore) from the Singapore Exchange following the successful conclusion of its $2.10 privatisation offer for the latter. As at the close of voluntary unconditional general offer at 5.30pm on Tuesday, the total number of Wheelock shares owned by Wheelock and Company’s offer vehicle Star Attraction was 1.08 ...
Wheelock Properties' 1Q earnings jump more than threefold to $30.8 mil on profits from associates
SINGAPORE (May 14): Wheelock Properties announced 1Q18 earnings increased more than threefold to $30.8 million, compared to $9.19 million in 1Q17 on higher share of profit of associates. Revenue for the quarter saw a 40.3% dip to $56.0 million from $93.7 million last year, as The Panorama and Ardmore Three have been completely sold last year, as well as lower interest income from the group’s ...
Stick with these quality companies for upside in 2018, says OCBC
SINGAPORE (Dec 14): OCBC Investment Research says upside remains even as 2018 is unlikely to see a repeat of the “stellar gains” this year. Year-to-date, the benchmark Straits Times Index (STI) has climbed 20% on the back of the financial and property sectors. The financial sector led the way as the best performing sub-index in the Singapore market, with year-to-date gains of 31%. This ...
Robust balance sheet & occupancy rates keep Wheelock Properties at 'buy'
SINGAPORE (Nov 24): OCBC Investment Research is maintaining its “buy” call on Wheelock Properties with an unchanged fair value estimate of $2.27, given the stock is attractively priced at 0.74 times FY16 book. This comes after Wheelock reported 3Q17 results that were broadly in line with the research house’s expectations, indicating a strengthening of the group’s balance sheet in spite ...
Wheelock Properties posts 72% rise in 3Q earnings to $49 mil
SINGAPORE (Nov 14): Wheelock Properties reported 3Q17 earnings increased by 72.1% to $48.8 million compared to 28.3 million in 3Q16. Revenue for the three months ended September rose 19.7% to $182.7 million from $152.6 million a year ago. Cost of sales rose 28.4% to $156.1 million from $121.6 million last year. As a result, the group’s 3Q17 gross profit came up to $26.5 million, 14.5% ...
Singapore residential sector expected to show first rebound in 4 years
SINGAPORE (Sept 28): OCBC is maintaining an “overweight” rating on Singapore’s property sector. The Urban Redevelopment Authority (URA) will be reporting its 3Q17 update for its private residential property price index shortly. OCBC predicts that the figures will show the first rebound in home prices in four years, marking the end of Singapore’s housing bear. And as the rental ...
Wheelock Properties records 3.4% rise in earnings to $36.5 mil
SINGAPORE (Aug 11): Wheelock Properties announced earnings of $36.5 million for 2Q17 ended June, up 3.4% on-year from the $35.3 million in 2Q16. This brings the group’s earnings for the half year to $46.6 million, 0.3% higher from $46.4 million posted in 1H16. The improved quarterly performance comes despite 57.2% decline in revenue to $128.7 million over 2Q17, which was mainly ...
High-yielding billionaire stocks extend beyond the STI
SINGAPORE (June 14): Many investors may not be aware that the Straits Times Index (STI) maintains one of the highest dividend yields across stock markets in Asia Pacific. As of June 9, 14 out of the 30 STI constituents maintain an indicative dividend yield of at least 3%. Among this group of stocks that have averaged a 10.6% dividend-inclusive return in 2017 YTD are Singtel and OCBC. Even ...
Wheelock Properties sees 9.8% fall in 1Q earnings to $10 mil
SINGAPORE (May 12): Wheelock Properties reported a 9.8% fall in 1Q17 earnings to $10 million from a year ago. Revenue rose 2.1% to $93.7 million mainly due to sales in Ardmore Three and 雍景山. This was partially offset by lower sales in The Panorama and lower interest income from the group’s investment in quoted securities. In its outlook, Wheelock says rental income from Wheelock ...
Gordon Tang of Singhaiyi becomes substantial unitholder in OUE C-REIT
SINGAPORE (March 20): Chinese tycoon Gordon Tang has emerged as a substantial shareholder in OUE Commercial REIT (OUE C-REIT). Tang, who heads property developer Singhaiyi Group, now owns 7.68% of OUE C-REIT, up from his previous holding of 4.88%, following a private placement. Tang was a cornerstone investor in OUE Commercial REIT when it was listed in 2014. According to analyst Tata ...