Ng has assumed an average selling price (ASP) of $1,000 per sq ft compared to recent transactions around the area, which range from $970 to $1,060 per sq ft.
SINGAPORE (Aug 30): KGI Securities is recommending “buy” for Sing Holdings with a fair value estimate of 54 cents, based on an implied 0.83 times P/B FY16 earnings, as well as a 30% discount to the property developer’s revalued net asset value (RNAV) estimate of 77 cents.
In a Wednesday report, analyst Joel Ng says he expects the group’s upcoming launch of its 735-unit private residential project at Fernvale Road to sell well, given the recent upturn in new property sales transactions in Singapore.
