Saturday, October 17, 2009

SC Global

Summary of article on SC Global (BT, Mon Oct 5th 09, Ven Sreenivasan). Future reference for next bear market, need to verify the figures below:
  • 1$.42bn debt
  • But asset base is 2.38bn - is developable land valued at cost.
  • 900,000 sq ft landbank, target and higg end of market. 400 units unsold inventory in projects such as the Marq, Hilltops and Martin No 38.
  • Landbank carried on bookas an avg cost of $1500 psf (is this cost price?)
  • Company has sold 20% of its inventory, and is collecting payments progressively.

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