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Post by hope on Feb 24, 2015 21:20:55 GMT 7
Hello oldman
Really strange, within such short time of purchase, sell at loss? Unbelievable. Maybe sold % of share or decoupling? Can share how you can find such info?
Amazing.
Thanks.
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Post by sptl123 on Feb 24, 2015 22:09:47 GMT 7
Hope, The loss is $1.353 mil including the 3% usual buyer stamp duty (If he is first property owner, else 10% if he has 2 property,13% for 3rd property). He is very lucky already because his neighbors is asking for one million lesser now! That also means the buyer of his property is poorer by $1,000,000.00 immediately ! 同人不同命; the previous owner gained about $ 2.5 mil on the same property: Property for sales:
Hello oldman Really strange, within such short time of purchase, sell at loss? Unbelievable. Maybe sold % of share or decoupling? Can share how you can find such info? Amazing. Thanks. Heard that an investor lost around $1.2 mil for buying and selling this 99 year leasehold property within 3 months ..... this includes a seller stamp duty of 16% on market value as it is sold within a year ( 16% of $3.6 mil = $576,000 ). Difference between selling and buying price = $650,000. Added together, it is around $1.2 mil. Am actually surprised at the sale price as the property appears to be very close to the Japanese cemetery.
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Post by oldman on Feb 25, 2015 5:21:07 GMT 7
sptl123, thanks for the additional info. I don't have access to your level of data. Actually, I am rather confused with these transactions as in June 2014, the next door property which is slightly larger, appeared to have been put up for sale at $2.88 mil: For those who are not aware of the high seller stamp duties: Holding period of 1 year : 16% of price or market value, whichever is higher Holding period of 2 years : 12% of price or market value, whichever is higher Holding period of 3 years : 8% of price or market value, whichever is higher Holding period of 4 years : 4% of price or market value, whichever is higher www.iras.gov.sg/irashome/page04.aspx?id=10212Hope, The loss is $1.353 mil including the 3% usual buyer stamp duty (If he is first property owner, else 10% if he has 2 property,13% for 3rd property). He is very lucky already because his neighbors is asking for one million lesser now! That also means the buyer of his property is poorer by $1,000,000.00 immediately ! 同人不同命; the previous owner gained about $ 2.5 mil on the same property: Property for sales:
Hello oldman Really strange, within such short time of purchase, sell at loss? Unbelievable. Maybe sold % of share or decoupling? Can share how you can find such info? Amazing. Thanks. Heard that an investor lost around $1.2 mil for buying and selling this 99 year leasehold property within 3 months ..... this includes a seller stamp duty of 16% on market value as it is sold within a year ( 16% of $3.6 mil = $576,000 ). Difference between selling and buying price = $650,000. Added together, it is around $1.2 mil. Am actually surprised at the sale price as the property appears to be very close to the Japanese cemetery.
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Post by zuolun on Feb 25, 2015 7:02:20 GMT 7
sptl123, It shouldn't be 同人不同命 instead, it should be 可怜之人必有可恨之处 = lesson learned from extremely greedy and gullible investors who speculate at the peak of an extended uptrend. Investors who buy property now is similar to buying sky-high Blumont, prior to its collapse. If you're well-versed in technical analysis yet still want to go ahead buying; it is a high-risk big gamble with the odds against you. Compare one investor who bought 500,000 Blumont shares @ S$0.0302 per share = S$15,087 versus another investor who bought 50,000 Blumont shares @ $2.40 per share = S$120,000; the former who paid cash for Blumont shares still got hope as long as the stock is not delisted while the latter who speculated at the peak of an extended uptrend, had already lost heavily and die pain pain liao... Hope, The loss is $1.353 mil including the 3% usual buyer stamp duty (If he is first property owner, else 10% if he has 2 property,13% for 3rd property). He is very lucky already because his neighbors is asking for one million lesser now! That also means the buyer of his property is poorer by $1,000,000.00 immediately ! 同人不同命; the previous owner gained about $ 2.5 mil on the same property: Property for sales:
In the stock market, turnaround/bottom-picking play is the toughest gameplay. Retail players love it as it has the highest returns if played correctly = Multibagger Stocks (四两博千金) But the hidden risk is position sizing, i.e. you could win big but also lose big. Example 1: BlumontCost of shares500,000 shares X S$0.0302 = S$15,087 Market value of shares as at 18 Sep 2013 (Prior to the collapse on 3 Oct 2013)
500,000 shares X S$2.36 = S$1,180,000 Some investors facing legal action over lossesBy Jonathan Kwok & Rachel Scully 1 Nov 2013 THE penny stock debacle has cost many local investors dearly and left some facing legal action from brokers and banks determined to get their money. Last month, three stocks in particular, Blumont Group, Asiasons Capital and LionGold, suffered big share price falls. One analyst's estimate is that shareholders of the three firms notched up losses of almost $1.5 billion when trading restrictions were in place for two weeks. One investor, who wanted to be known only as Joseph, forked out $120,000 of his retirement savings on 50,000 shares in mining firm Blumont when they were sky-high at $2.40 each just days before the stock crashed. Now his stake is worth only $5,850."I'm one of many saddened and disheartened investors who will have to live with this painful memory for a long time," he said. "I hoped that (Blumont) would go beyond $3 with the company's diversified business on top of its investment in copper mining." After strong rises in recent months, shares of the three counters tumbled on Oct 4, prompting the Singapore Exchange (SGX) to slap a suspension and then trading curbs on them. The restrictions were lifted last Monday, and the Monetary Authority of Singapore and SGX have started probing the trading activities around the stocks. Some punters have used borrowed money from brokerages or banks to buy the shares and now have to pay up. Sources say that many pledged their other stocks or secured bank overdrafts on their property for more credit. For those who have used homes as collateral, this means they have to find some way of raising funds to repay the overdraft, or risk losing the property. Brokerages and banks typically give clients seven to 14 days to pay back money, and may act if they do not get the cash by then. "Banks or stockbroking firms will at first issue letters to their clients to ask for repayment for any losses incurred," said Mr Chou Sean Yu, who heads the banking and financial disputes practice at law firm WongPartnership. "They may give, say, (another) seven or 14 days. Clients who face difficulty in making payment would try to negotiate for more time," said Mr Chou. "If the losses are substantial and the institution does not receive a positive response from the clients after this time period for payment, they may then proceed to file an action in court." Industry players say that broking firms may also choose to go after the client's remisier, who act as guarantors for investors. The Straits Times understands some lawyers have already been engaged by institutions seeking to reclaim money from their clients. United States dealer Interactive Brokers Group recently said it has seven accounts of individuals with exposure to the penny stock crash, amounting to deficits of US$68 million (S$84.1 million). It has organised its legal team to collect its debts.
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Post by chlio on Feb 25, 2015 16:08:28 GMT 7
sptl123, It shouldn't be 同人不同命 instead, it should be 可怜之人必有可恨之处 = lesson learned from extremely greedy and gullible investors who speculate at the peak of an extended uptrend. Investors who buy property now is similar to buying sky-high Blumont, prior to its collapse. If you're well-versed in technical analysis yet still want to go ahead buying; it is a high-risk big gamble with the odds against you. Compare one investor who bought 500,000 Blumont shares @ S$0.0302 per share = S$15,087 versus another investor who bought 50,000 Blumont shares @ $2.40 per share = S$120,000; the former who paid cash for Blumont shares still got hope as long as the stock is not delisted while the latter who speculated at the peak of an extended uptrend, had already lost heavily and die pain pain liao... Hope, The loss is $1.353 mil including the 3% usual buyer stamp duty (If he is first property owner, else 10% if he has 2 property,13% for 3rd property). He is very lucky already because his neighbors is asking for one million lesser now! That also means the buyer of his property is poorer by $1,000,000.00 immediately ! 同人不同命; the previous owner gained about $ 2.5 mil on the same property: Property for sales:
In the stock market, turnaround/bottom-picking play is the toughest gameplay. Retail players love it as it has the highest returns if played correctly = Multibagger Stocks (四两博千金) But the hidden risk is position sizing, i.e. you could win big but also lose big. Example 1: BlumontCost of shares500,000 shares X S$0.0302 = S$15,087 Market value of shares as at 18 Sep 2013 (Prior to the collapse on 3 Oct 2013)
500,000 shares X S$2.36 = S$1,180,000 Some investors facing legal action over lossesBy Jonathan Kwok & Rachel Scully 1 Nov 2013 THE penny stock debacle has cost many local investors dearly and left some facing legal action from brokers and banks determined to get their money. Last month, three stocks in particular, Blumont Group, Asiasons Capital and LionGold, suffered big share price falls. One analyst's estimate is that shareholders of the three firms notched up losses of almost $1.5 billion when trading restrictions were in place for two weeks. One investor, who wanted to be known only as Joseph, forked out $120,000 of his retirement savings on 50,000 shares in mining firm Blumont when they were sky-high at $2.40 each just days before the stock crashed. Now his stake is worth only $5,850."I'm one of many saddened and disheartened investors who will have to live with this painful memory for a long time," he said. "I hoped that (Blumont) would go beyond $3 with the company's diversified business on top of its investment in copper mining." After strong rises in recent months, shares of the three counters tumbled on Oct 4, prompting the Singapore Exchange (SGX) to slap a suspension and then trading curbs on them. The restrictions were lifted last Monday, and the Monetary Authority of Singapore and SGX have started probing the trading activities around the stocks. Some punters have used borrowed money from brokerages or banks to buy the shares and now have to pay up. Sources say that many pledged their other stocks or secured bank overdrafts on their property for more credit. For those who have used homes as collateral, this means they have to find some way of raising funds to repay the overdraft, or risk losing the property. Brokerages and banks typically give clients seven to 14 days to pay back money, and may act if they do not get the cash by then. "Banks or stockbroking firms will at first issue letters to their clients to ask for repayment for any losses incurred," said Mr Chou Sean Yu, who heads the banking and financial disputes practice at law firm WongPartnership. "They may give, say, (another) seven or 14 days. Clients who face difficulty in making payment would try to negotiate for more time," said Mr Chou. "If the losses are substantial and the institution does not receive a positive response from the clients after this time period for payment, they may then proceed to file an action in court." Industry players say that broking firms may also choose to go after the client's remisier, who act as guarantors for investors. The Straits Times understands some lawyers have already been engaged by institutions seeking to reclaim money from their clients. United States dealer Interactive Brokers Group recently said it has seven accounts of individuals with exposure to the penny stock crash, amounting to deficits of US$68 million (S$84.1 million). It has organised its legal team to collect its debts. hi all, I am surprised that the transaction can be completed within 10 weeks! It is almost as if the buyer already decided to sell right after his purchase!
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Post by sptl123 on Feb 26, 2015 10:01:58 GMT 7
RE: SSD : Seller Stamp DutyHolding period of 1 year : 16% of price or market value, whichever is higher Holding period of 2 years : 12% of price or market value, whichever is higher Holding period of 3 years : 8% of price or market value, whichever is higher Holding period of 4 years : 4% of price or market value, whichever is higher www.iras.gov.sg/irashome/page04.aspx?id=10212Some one sold a Shoe-box unit in a newly launched property after 1 year and 1 day to escape 16% SSD. However, he still suffered $ 222K or 34% loss after paying buyer and seller stamp duty.
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Post by zuolun on Mar 1, 2015 15:41:03 GMT 7
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Post by zuolun on Mar 3, 2015 21:58:58 GMT 7
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Post by sptl123 on Mar 3, 2015 23:28:58 GMT 7
For a S$ 1 million loan over 20 years, if and when interest rate goes up by 0.5%, the monthly installment will be increased by S$ 226 per month. Over the period of 20 year, the additional interest payable is S$ 53,000.
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Post by zuolun on Mar 4, 2015 11:23:14 GMT 7
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Post by zuolun on Mar 5, 2015 13:17:18 GMT 7
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Post by sptl123 on Mar 7, 2015 21:23:34 GMT 7
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Post by kenjifm on Mar 7, 2015 21:52:23 GMT 7
This is just the beginning. 2016 will have more impact.
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Post by sptl123 on Mar 7, 2015 21:57:40 GMT 7
Things are not well. Someone I know just sold a unit in Ang Mo Kio 99-years-lease Centro at record low PSF. The person holding the property for 4.5 years and has Zero capital gain after deducting duty and fees. Price in green means the lowest PSF price in a development.
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Post by pain on Mar 8, 2015 13:39:32 GMT 7
Centro Residence by Far East Organisation built by Lian Beng Group. Strategic location at AMK Hub itself commanding $1,700 psf at one time. Average psf was about $1,300 psf when launched. The price scared me off though I can get a 5% discount. Good place for rental and families stay. Certainly not a good time for flipping units. Things are not well. Someone I know just sold a unit in Ang Mo Kio 99-years-lease Centro at record low PSF. The person holding the property for 4.5 years and has Zero capital gain after deducting duty and fees. Price in green means the lowest PSF price in a development.
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