$970 mil bid for Tampines Court a ‘quantum leap of faith’ from Sim Lian

SINGAPORE (Aug 16): DBS Group Research is remaining cautious on news of property developer Sim Liam Group’s potential purchase of Tampines Court, which would represent the condominium property home owners’ third attempt for a collective sale.

To recap, the Business Times reported that Sim Lian is believed to have placed a bid of $970 million for the sale of the property, with a total sum of more than $1 billion to be paid after the inclusion of additional payments.

In a flash note on Thursday, analysts Rachel Tan and Derek Tan say they believe the move to be a “quantum leap of faith” from Sim Lian, considering the significant number of units that need to be reabsorbed upon the launch of property.

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