5star properties pty ltd’s first project under 5star Sinai Limited. "Sinai Dreams" had a 100acres of land with 200 shares near the upcoming Sydney's new International Airport which has been sold out in 70 days (1/3 of the expected time frame). The Sinai Dreams project land had two existing houses and was surrounded by all major infrastructures, like main roads, freeways, train stations, Schools, shopping centres, hospitals etc. The shares of sinai dreams were sold to different communities from Kerala, Karnataka, Tamil Nadu, Goa, Andhra Pradesh, (Telangana) Punjab, Gujarat, Maharashtra, Sri Lanka, Pakistan and Bangladesh.
Currently this property has 2 houses and 3 tenants. There is a rental income of $47,000 per year. At present circumstances all maintenance and management expenses for Sinai Dreams will meet from this rental income. So there is no need for contribution from shareholders now. If there is no rental income from these houses, at that time, shareholders contribution may be needed to meet the maintenance and management. Shareholders will not be contributing for director’s fee.
There is a 5 acre land which is adjacent to Sinai Dreams land. The estimated price of that land is 1.1 million. Equivalent 5 acre (which is 10 shares) of Sinai Dreams is only $350,000 which is about 1/3 of current market price.
Directors of 5Star Properties Pty Ltd are the directors of 5Star Sinai Limited.
Until land settlement, all decisions will be taken by the directors of the company. After final settlement, all major decisions regarding Sinai Dreams will be taken by shareholders as per the Corporations Acts. Shareholders will have no role in day to day activities including management and maintenance of the company.
Not now, as per Corporation Acts, company will disclose all financial details to the shareholders at the time of AGM. We can’t disclose those details to public for privacy and confidentiality reasons. It may cause confusion and miss communication.
75% of share holders will decide to sell or develop the land after 10 year locking period. If we get permission to develop and sub-divide the land before the locking period, the shareholders will decide to relax the locking period and develop the land at that time.
Receipt for the payment, Copy of PDS and Share certificate as per AISC regulation. Shareholders details will also enter in shareholders register which will be accessible for shareholders and AISC.
Yes, after sub-division, shareholders can buy plots in their own name. The price (any discount for shareholders) will discuss and will be decided at the time of Annual General Body Meeting (AGM).
Not until subdivide the land as house plots, or until the land sold, it is in company name. Each shareholder will receive a transferable and resalable legal certificate.
Yes, the land title is under “5Star Sinai Limited” name. 5Star Sinai Limited Company has 200 shares and these 200 shareholders are the owner of the company and the owner of the land.
$35,000 per share for the first 100 shares on first come first serve basis. $40,000 per share for the rest of the shares (Directors of the company can change the share prices according to the circumstances)
It operates under the Australian Securities and Investment Commission Act, regulations and Corporation act. Directors of 5Star Properties Pty Ltd are the directors of 5Star Sinai Limited until end of this project.
Sinai Dreams is a pioneer property development project undertaken by 5Star Properties Pty Ltd under a public limited company named “5star Sinai Limited”. 5star Sinai Limited recently bought 100 acres of land in Menangle, near the South West Sydney Growth area (10 mins from Campbelltown). The Sinai Dreams project is a 10 year investment plan near the upcoming international airport and nearby developed area of Camden and Menangle. The company is expecting the full return for investment within 5 to 10 year period. The company will maintain this land and will initiate the development process for residential sub-division according to the NSW Development authority. Each sub-divided residential plots will be sold at market price. The net profit will be equally divided to the 200 shares holders proportionate to their number of shares.