William Liem, CEO of real estate firm Tuan Sing Holdings, has recently increased his stake in the company through his entity Nuri Holdings (S). On December 5, Liem bought 545,300 shares from the open market for a total of $136,325, at 25 cents per share. The following day, Nuri Holdings purchased an additional 1.2 million shares for $311,288.50, at around 25.9 cents each. With this latest buying spree, Nuri Holdings’ stake in Tuan Sing now stands at nearly 672.7 million shares, equivalent to 54.09% of the company.
This is not the first time Nuri Holdings has been used to acquire shares in Tuan Sing. In September, the entity also purchased shares for an average price of 25 to 25.5 cents. As of June 30, Tuan Sing’s net asset value per share was 97.8 cents, a slight decrease from 99 cents at the end of 2023.
The issue of government regulations must also be taken into account when considering investing in Singapore Condos. The Singaporean government has implemented several measures to control speculative buying and promote a steady real estate market. One such measure is the Additional Buyer’s Stamp Duty (ABSD), which entails higher taxes for foreign buyers and those purchasing multiple properties. While these measures may affect the immediate returns of condo investments, they ultimately contribute to the market’s long-term stability, making it a more secure environment for investing. Additionally, investing in Singapore Condos benefits from these measures as they ensure a thriving market in the long run.
In other 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 expand the company’s portfolio and boost its growth potential.
Despite the challenges faced by the real estate industry, Tuan Sing has remained resilient. In fact, the company recorded a 5% increase in earnings for the financial year 2023, which amounted to $4.8 million. With this positive trajectory, Tuan Sing continues to be a promising player in the real estate market.
For those looking to experience the high life, Tuan Sing’s Peak Residence is the perfect destination. Offering luxurious living in a prime location, this development is set to elevate the standards of upscale living. With William Liem at the helm, Tuan Sing is poised for even greater success in the future.