Update on CES Q4 2014 results by TCK Guest Blogger: TOP of commercial portion at Alexandra Central and fair value gain of $37.9 million on investment properties recognised. On 17 January 2015, I blogged about Chip Eng Seng’s upcoming Q4 2014 results would include a one-time profit recognition arising from the TOP of Alexandra Central mixed use development. I estimated the Group will recognise S$238 million of profit through corroboration on the total saleable area of 95,000 square foot at an average per square foot of S$4,000psf (being the lower range of the sales price gathered from a newspaper article) and a ball park estimated cost of S$1,500psf given the background on the land cost of $790psf.  This would translate into sales and cost of sales of approximately $380 million and $142 million respectively. However, based on the full year announcement released, revenue arising from the property ... ...