Top Global

Top Global: announces plans to launch two freehold residential devts, R Maison and E Maison, at Braddell Road and Sommerville Walk respectively. Located on the sites of the former Braddell Regalia and Braddell Park, the two projects cover a combined site area of approx 10,255 sm, and total GFA of approx 14,356 sm. Comprising 175 units in total, The Maisons feature 1-bedroom apts at ~570 sf, through 2- and 3-bedroom units, to penthouses spanning 2,357 sf. Prices are anticipated to range btwn $1,350 – 1,450 psf, reflecting a 10-15% downward adjustment to prices from previous estimates. The Maisons is targeted to be officially launched btwn late Mar ’13 and early Apr ’13 subject to authority clearances and TOP is expected to be in Jun ’16. The stock, which counts Ms Oei Siu Hoa (famous investor Oei Hong Leong’s sister) as the top shareholder with 51.7% stake, trades at 3.1x P/E, 1.0x P/B.