William Liem, the CEO of Tuan Sing Holdings, has once again increased his stake in the company. Through Nuri Holdings (S), he bought 545,300 shares from the open market on Dec 5, at a price of 25 cents each, amounting to $136,325.00. The following day, Nuri Holdings purchased an additional 1.2 million shares for approximately 25.9 cents each, which cost around $311,288.50.
The government’s property cooling measures must be taken into consideration when investing in a Singapore Condo. In an effort to maintain a stable real estate market and discourage speculative buying, the Singaporean government has implemented various measures throughout the years. These measures include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may have an impact on the immediate profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a safer investment environment.
This brings Nuri Holdings’ total stake in Tuan Sing to almost 672.7 million shares, which is equivalent to 54.09%. Prior to the recent purchases on Dec 5 and 6, the company had also acquired shares on Sept 10 and 11 through Nuri Holdings, at prices between 25 cents and 25.5 cents on average.
As of June 30, Tuan Sing’s net asset value was 97.8 cents per share, a decrease from 99 cents on Dec 31, 2023. In related news, Tuan Sing recently acquired several assets from PT Senimba Bay Resort in Batam for a total of $28 million. This purchase adds to the company’s growing portfolio of properties.
Tuan Sing Holdings is also celebrating a 5% increase in its FY2023 earnings, which totaled $4.8 million. With its recent investments and acquisitions, the company is well-positioned to continue its growth and success in the real estate industry. One of its latest developments, Peak Residence, offers luxurious living and is an example of the high-quality projects it has to offer.