Being the advocater of Sing Holdings Ltd previously, I feel that I should provide my comments on their latest purchase of the residential site at Fernvale Road.
This plot of land seems to be besides or near High Park Residences, that was purchased and developed by Chip Eng Seng.
This purchase was also a collaboration between Sing Holdings Ltd (70%) and Wee Hur Holdings Ltd (30%).
Details of the Purchase as per below (The document is as per attached in this link.)
There are 2 discussion points which I believe I should address:
1. Is this a good purchase?
The bid works out to $517.03 psf (per square feet). As compared to High Park Residences, which Chip Eng Seng bought for only $438/448 psf for 2 times this plot of land. As discussed in valuebuddies forum, larger plots of land has cheaper construction and marketing cost due …