Quote:
Originally Posted by StarCity
Lucky never buy from formosa dealers at $13 mil. 
$270k is a steal.. |
We define
Fixtures as items attached to the property like central air-con, central water heater, timber flooring, doors, fitted carpets, light fittings, exhaust hood, fixed cabinets, integrated appliances, wirings, piping and other renovation finishes, etc
Whereas
Fittings are items not attached to the property and movable like beds, cooking utensil, table&chairs, curtain, fridge, towels, bed sheets, sofa, table lamp, speakers, amplifiers, etc
Probably the formosa management was unable to sell the whole hotel assets (Fixtures + Fittings) over a long period of time, desperate in need of fund to pay employees' salary therefore had no choice but to sell the movable assets (Fittings) at S$27K.
So now the question is how to sell the Fixtures only without the Fitting. Unlikely a potential buyer will just buy the Fixture as it will not be complete for a hotel to operate and this may lead to even more difficult to sell.
Fittings are generally cheaper in cost while Fixtures is expensive as it requires labour, material and equipment to install.
If Fixtures + Fitting put up for sale at S$13 million and Fittings alone sold for S$27k, then it would be difficult to sell the Fixtures at S$12,973,000