Roxy Homes - one of Singapore's 50 fastest growing companies
Roxy Homes Pte Ltd (Roxy Homes), a wholly-owned subsidiary of Roxy-Pacific Holdings Ltd, has been included on the Fastest Growing 50 (FG-50) list, receiving its certification at this year’s FG-50 award ceremony.“We are honoured to be ranked for a second consecutive year in the...
Continue Reading • 18 Aug 2011
Housing, employment are pressing issues amongst most S'poreans
Housing and employment are the main concerns of most Singaporeans, in their response to the recent National Day Rally speech delivered by Prime Minister Lee Hsien Loong. Singapore feedback unit Reach has received nearly 600 responses since Sunday’s speech, up 40 percent from last...
Continue Reading • 18 Aug 2011
UK mortgage fees up by average 17% since 2010
Latest figures from Moneyfacts.co.uk revealed that the average mortgage fee in the UK has grown by £151 over the past year.Currently, the average arrangement fee stands at £1,030, up 17 percent year-on-year from last year.Accord Mortgages posted the most expensive fee at £3,800,...
Continue Reading • 18 Aug 2011
Surge of US refinancing loans as mortgage rates hit bottom
More than 75 percent of mortgage loan applications in the US on 1 August came from homeowners hoping to refinance their loans, up from 60 percent in the spring, according to the Mortgage Bankers Association (MBA).Refinancing even an average-priced home under the lowest rates is a positive...
Continue Reading • 17 Aug 2011
CapitaLand secures prime residential site in Hangzhou
Southeast Asia’s largest real estate company, CapitaLand, through its wholly-owned subsidiary CapitaLand China Holdings, has acquired a 32,040 sq m prime residential site in Hangzhou’s Gongshu District in China for RMB1,113.98 million (S$213.27 million), which translates to around...
Continue Reading • 17 Aug 2011
Ascendas event draws strong interest from industry leaders
Ascendas, Asia’s leading provider of business space solutions, drew strong interest from industry leaders during its first Ascendas Investors Day, held at the Raffles City Convention Centre on 16 August.Themed “Dynamic Asia: Calls for New Investment Paradigms”, the event was...
Continue Reading • 17 Aug 2011
DBSS income ceiling to remain fixed
The pool of potential home buyers for Design, Build and Sell Scheme (DBSS) and Build-To-Order (BTO) flats is now the same, as the government is keeping the monthly income ceiling for DBSS flats at S$10,000.National Development Minister Khaw Boon Wan said yesterday that buyers with a monthly...
Continue Reading • 16 Aug 2011
Oxley Holdings posts full-year net profit of S$14.6m
Singapore property developer Oxley Holdings has posted a S$14.6 million net profit in the financial year ended 30 June 2011, on the back of a S$70.9 million full-year revenue.The company said that during the financial year, it acquired a total of 11 land parcels, including two commercial plots...
Continue Reading • 16 Aug 2011
More Northern UK borrowers likely to be in debt
A survey on regional variation in UK borrowers’ equity position and mortgage arrears indicates that debts continue to vary between the north and south of the country.In the first quarter of 2011, Standard & Poor’s (S&P) analysed 1.5 million loans assisted by UK prime...
Continue Reading • 16 Aug 2011
SOR-pegged home loans axed due to low profit margins
Singapore’s swap offer rate (SOR) — a rate signifying the synthetic cost of borrowing Singapore dollars, by borrowing US dollars at similar maturity and exchanging them for Singapore dollars — turned negative last week as funds seeking safety flooded the local market.This...
Continue Reading • 15 Aug 2011
United Engineers reports Q2 net profit of S$33.4m
United Engineers Ltd (UEL) posted a 39 percent increase in its net profit for Q2 to S$33.4 million, an improvement from S$24.1 million in the same period last year.The company’s revenue, however, fell 13 percent to S$160 million from S$184.9 million. This was attributed to the reduced...
Continue Reading • 15 Aug 2011
SC Global sees 88% rise in profit
SC Global Developments Limited, one of Singapore’s leading high-end property developers, has posted an 88 percent increase in its net profit in the second quarter to S$46.29 million from S$24.63 million in the same period last year.For the first half of 2011, its profits grew 305 percent to...
Continue Reading • 15 Aug 2011
Tiong Seng reports 38% rise in Q2 net profit
Tiong Seng Holdings Limited, one of the leading construction groups and property developers in Singapore, has posted a 38 percent increase in its net profit, mainly attributed to equity holders of S$9.2 million for Q2 ended 30 June 2011.Tiong Seng’s total revenue in Q2 climbed 19 percent to...
Continue Reading • 15 Aug 2011
Govt raises income ceiling for HDB flats
The government has announced that the Housing and Development Board (HDB) will be raising the income ceiling for HDB flats, from S$8,000 to S$10,000.This will be followed by a raise in the income ceiling for executive condominiums (ECs) from S$10,000 to S$12,000.In addition, it has promised to...
Continue Reading • 15 Aug 2011
FBI expects more US mortgage fraud cases
Investment and mortgage schemes aimed at delinquent US homeowners rose in 2010 and may rise even further if the economy continues to slide, according to the Federal Bureau of Investigation (FBI).The bureau stated in its annual report that pending investigations, the number of cases rose 12...
Continue Reading • 15 Aug 2011
Mortgage brokers in Singapore to stop offering SOR-pegged home loans
Several mortgage brokers in Singapore have received orders from two banks to stop providing home loans pegged to Swap Offer Rates (SORs), according to The Business Times.In addition, another bank has added a new clause into offer letters providing a floor rate for the SOR in its mortgages.All...
Continue Reading • 12 Aug 2011
UOL's Q2 net profit up 16% to S$202.2m
Singapore-based property developer UOL Group has recorded a net profit of S$202.2 million in the second quarter, up 16 percent from S$173.7 million in the previous year.The profit after tax and minority interests (Patmi), which includes S$96.5 million in fair value gains on investment properties,...
Continue Reading • 12 Aug 2011
Govt must have contingency plans, says Dr Tony Tan
Former Deputy Prime Minister Dr Tony Tan said that, should he be voted in as president, his experience will help the government. He noted that the Singapore government should enact contingency plans in case the current economic situation plaguing Europe and the United States turns into a...
Continue Reading • 12 Aug 2011
PropertyGuru teams up with Yahoo!
A new partnership has been announced between PropertyGuru and Yahoo! Inc that will see the two publishers provide comprehensive property-related content to more than 17 million visitors across Singapore, Malaysia, Indonesia and Thailand.Under the deal, PropertyGuru will provide property news,...
Continue Reading • 12 Aug 2011
Chip Eng Seng posts lower Q2 profit
Construction and property group Chip Eng Seng Corp Ltd has posted a 14.4 percent decline in net profit for the second quarter, down to S$17.71 million from S$20.7 million over the same period last year.The company’s revenue for the period also fell 31.1 percent to SS$86 million, from S$125...
Continue Reading • 12 Aug 2011