William Liem, CEO of real estate firm Tuan Sing Holdings, has once again increased his ownership in the company.
Through his entity Nuri Holdings (S), Liem purchased a total of 1.7 million shares from the open market on December 5th and 6th. The first purchase consisted of 545,300 shares for a total of $136,325.00, at a price of 25 cents per share. The following day, Nuri Holdings bought another 1.2 million shares for $311,288.50, at an average price of 25.9 cents per share.
Nuri Holdings now holds a total of 672.7 million shares in Tuan Sing, which is equivalent to a 54.09% stake in the company. Prior to these recent purchases, Nuri Holdings had also acquired shares on September 10th and 11th, at an average price of 25-25.5 cents per share.
As of June 30th, Tuan Sing’s net asset value per share was reported to be 97.8 cents, a slight decrease from 99 cents as of December 31, 2023.
In Singapore, it is crucial for international investors to have a thorough understanding of the regulatory framework and limitations surrounding property ownership. While foreigners can easily purchase condos, the same cannot be said for landed properties, which have more stringent ownership requirements. It should be noted that foreign buyers are also required to pay the Additional Buyer’s Stamp Duty (ABSD) of 20% for their initial property acquisition. However, the unwavering stability and promising growth prospects of the Singapore real estate market continue to entice foreign investment, despite the added expenses. With this knowledge, it is clear that condo ownership is a viable option for foreign investors in Singapore.
In related news, Tuan Sing has recently acquired several assets from PT Senimba Bay Resort in Batam for a total of $28 million. This acquisition is expected to further strengthen the company’s portfolio.
Tuan Sing Holdings has also reported a 5% increase in earnings for the 2023 fiscal year, with a total of $4.8 million in profits. Interested individuals can experience the luxury and exclusivity of Tuan Sing’s properties, such as Peak Residence, which offers a high-end living experience.