Between May 19 and 22, PropNex executive director Kelvin Fong Keng Seong acquired 748,200 shares at an average price of S$1.02 per share. This increased his direct and deemed interest in Singapore’s largest listed real estate group from 8.75 per cent to 8.85 per cent.
His preceding acquisitions were in July 2022, with 72,100 shares acquired at S$1.52 per share.
Fong oversees the group’s training development curriculum and also administers the development of IT strategies and technology innovations to improve the group’s competitive edge in the industry.
Prior to joining the management team, Fong was one of the top team leaders and his team of salespersons has a strong track record for outstanding sales performance and excellent customer service.
Fong also spearheads the sales and leadership training programmes.
In a presentation on Apr 6, Fong noted
In 2022, PropNex launched its fifth overseas brand presence in Australia. PropNex’s real estate brokerage services are operated by its wholly owned flagship subsidiary PropNex Realty Pte Ltd. PropNex Realty derives commission-based fees through the provision of property brokerage.
In Singapore, the group maintains a substantial market share in the residential segments of new project launches, private resale, HDB resale and rental including commercial and industrial properties.
On the recent round of cooling measures directed at the Singapore property market, PropNex maintained that the government is moving early to rein in any exuberance that may be building up in the residential property market, seeing that overall private home prices rose by 3.3 per cent in Q1 2023 compared to Q4 2022, as shown by the URA property price index flash estimates
From May 19 to 22, Kelvin Fong Keng Seong, executive director of PropNEX, acquired 748,200 shares at an average price of SGD 1.02 per share. This increased his direct and equal equity interest in Singapore's largest listed real estate group from 8.75% to 8.85%.
His previous acquisition was in July 2022, where he bought 72,100 shares at SGD 1.52 per share.
Fong is responsible for overseeing the Group's training development courses and managing the development of IT strategy and technological innovation to enhance the Group's competitive advantage in the industry.
Prior to joining the management team, Fong was one of the team's senior leaders, and his sales team had a strong track record of excellent sales performance and excellent customer service.
Fong is also responsible for sales and leadership training programs.
In a presentation on April 6, Fong stated that with its regional influence, PropNEX has a sales force of nearly 15,000 sales people.
In 2022, PropNEX launched its fifth overseas brand in Australia. PropNEX's real estate brokerage services are operated by PropNEX Realty Pte Ltd, its wholly-owned flagship subsidiary. PropNEX Realty charges commissions by providing real estate brokerage services.
In Singapore, the group maintains a significant market share in the residential sector of new project launches, private resales, group house resales, and leases, including commercial and industrial properties.
Regarding the recent round of cooling measures against the Singapore real estate market, PropNEX insisted that the government is acting as soon as possible to curb any boom that may accumulate in the residential real estate market, as overall private housing prices rose 3.3% in 2018. A comparison between the first quarter of 2023 and the fourth quarter of 2022, as shown by the URA Real Estate Price Index flash estimates
丰衣足食 :
—Dahua Jixian analyst Adrian Loh said in a research report that since Singapore residential properties dominate, PropNEX is still the “preferred” stock for residential properties in Singapore. He raised the target price of the stock from S$1.07 to S$1.16, and the buying rating remained unchanged. Given the agency's continued strong leverage over the Singapore housing market and its new growth plans to enter the commercial market through the establishment of a consulting department, the agency is still optimistic about the long-term prospects of the real estate agency. Additionally, the analyst added that the company's recently issued 1-to-1 bonus has greatly increased its liquidity and broadened investors' accessibility. Shares fell 2.8% to SGD 1.04
丰衣足食 :
Maybank Research analyst Eric Ong said in a report maintaining the stock's buying rating that PropNEX's trading volume may improve as supply increases. Analysts pointed out that the supply of private housing under the government's land sales plan has increased from 3,500 units on the confirmation list in the second half of 2022 to 4,100 units in the first half of 2023. The analyst added that the Singapore Housing and Development Commission will launch as many as 23,000 apartments this year, and will launch a total of around 40,000 new apartments from 2024 to 2025. Given PropNEX's growing market share and better trading liquidity, Bank Malay valued the stock at a higher price-earnings ratio and raised the target price from S$1.10 to SGD 1.20. Shares fell 1.0% to SGD 1.01. (ronnie.harui@wsj.com)
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丰衣足食 : PropNex
Between May 19 and 22, PropNex executive director Kelvin Fong Keng Seong acquired 748,200 shares at an average price of S$1.02 per share. This increased his direct and deemed interest in Singapore’s largest listed real estate group from 8.75 per cent to 8.85 per cent.
His preceding acquisitions were in July 2022, with 72,100 shares acquired at S$1.52 per share.
Fong oversees the group’s training development curriculum and also administers the development of IT strategies and technology innovations to improve the group’s competitive edge in the industry.
Prior to joining the management team, Fong was one of the top team leaders and his team of salespersons has a strong track record for outstanding sales performance and excellent customer service.
Fong also spearheads the sales and leadership training programmes.
In a presentation on Apr 6, Fong noted
In 2022, PropNex launched its fifth overseas brand presence in Australia. PropNex’s real estate brokerage services are operated by its wholly owned flagship subsidiary PropNex Realty Pte Ltd. PropNex Realty derives commission-based fees through the provision of property brokerage.
In Singapore, the group maintains a substantial market share in the residential segments of new project launches, private resale, HDB resale and rental including commercial and industrial properties.
On the recent round of cooling measures directed at the Singapore property market, PropNex maintained that the government is moving early to rein in any exuberance that may be building up in the residential property market, seeing that overall private home prices rose by 3.3 per cent in Q1 2023 compared to Q4 2022, as shown by the URA property price index flash estimates
丰衣足食 : PRONEX
From May 19 to 22, Kelvin Fong Keng Seong, executive director of PropNEX, acquired 748,200 shares at an average price of SGD 1.02 per share. This increased his direct and equal equity interest in Singapore's largest listed real estate group from 8.75% to 8.85%.
His previous acquisition was in July 2022, where he bought 72,100 shares at SGD 1.52 per share.
Fong is responsible for overseeing the Group's training development courses and managing the development of IT strategy and technological innovation to enhance the Group's competitive advantage in the industry.
Prior to joining the management team, Fong was one of the team's senior leaders, and his sales team had a strong track record of excellent sales performance and excellent customer service.
Fong is also responsible for sales and leadership training programs.
In a presentation on April 6, Fong stated that with its regional influence, PropNEX has a sales force of nearly 15,000 sales people.
In 2022, PropNEX launched its fifth overseas brand in Australia. PropNEX's real estate brokerage services are operated by PropNEX Realty Pte Ltd, its wholly-owned flagship subsidiary. PropNEX Realty charges commissions by providing real estate brokerage services.
In Singapore, the group maintains a significant market share in the residential sector of new project launches, private resales, group house resales, and leases, including commercial and industrial properties.
Regarding the recent round of cooling measures against the Singapore real estate market, PropNEX insisted that the government is acting as soon as possible to curb any boom that may accumulate in the residential real estate market, as overall private housing prices rose 3.3% in 2018. A comparison between the first quarter of 2023 and the fourth quarter of 2022, as shown by the URA Real Estate Price Index flash estimates
丰衣足食 : —Dahua Jixian analyst Adrian Loh said in a research report that since Singapore residential properties dominate, PropNEX is still the “preferred” stock for residential properties in Singapore. He raised the target price of the stock from S$1.07 to S$1.16, and the buying rating remained unchanged. Given the agency's continued strong leverage over the Singapore housing market and its new growth plans to enter the commercial market through the establishment of a consulting department, the agency is still optimistic about the long-term prospects of the real estate agency. Additionally, the analyst added that the company's recently issued 1-to-1 bonus has greatly increased its liquidity and broadened investors' accessibility. Shares fell 2.8% to SGD 1.04
丰衣足食 : Maybank Research analyst Eric Ong said in a report maintaining the stock's buying rating that PropNEX's trading volume may improve as supply increases. Analysts pointed out that the supply of private housing under the government's land sales plan has increased from 3,500 units on the confirmation list in the second half of 2022 to 4,100 units in the first half of 2023. The analyst added that the Singapore Housing and Development Commission will launch as many as 23,000 apartments this year, and will launch a total of around 40,000 new apartments from 2024 to 2025. Given PropNEX's growing market share and better trading liquidity, Bank Malay valued the stock at a higher price-earnings ratio and raised the target price from S$1.10 to SGD 1.20. Shares fell 1.0% to SGD 1.01. (ronnie.harui@wsj.com)
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