Tuan Sing's Q1 net profit rises to S$5.5m
Mainboard-listed Tuan Sing Holdings has posted a net profit of S$5.5 million in the first quarter, with Q1 revenue in its property portfolio swelling to S$8.1 million, from S$5.2 million over the same period last year.The company said its overall revenue in the first quarter also climbed 49...
Continue Reading • 29 Apr 2011
Allgreen Q1 net profit more than doubles to $84.5m
Singapore property developer Allgreen Properties has recorded robust earnings in the first quarter, despite the series of cooling measures implemented by the government.The company has posted a 56 percent increase in revenue for the first quarter, up to S$242.8 million from S$155.9 million over...
Continue Reading • 29 Apr 2011
Mah criticises NSP housing proposal
Real estate has entered the political battle during Singapore’s election period, as Minister for National Development Mah Bow Tan recently criticised an Opposition party’s suggestion of providing cheaper housing.In opposing the Tampines Group Representation Constituency (GRC), the...
Continue Reading • 29 Apr 2011
Ascott appoints new Regional General Manager
The Ascott Limited (Ascott), CapitaLand’s wholly-owned serviced residence business unit, has appointed Tan Boon Khai as Regional General Manager for both Singapore and Malaysia.Mr. Tan will be responsible for driving Ascott’s growth and ensuring operational effectiveness to enhance...
Continue Reading • 29 Apr 2011
Smaller banks preferred for Aussie borrowers
Smaller domestic banks are becoming popular among Australians seeking mortgages, according to Scott Manning, a bank specialist at JP Morgan who believes that larger banks are witnessing a decline in demand for home loans.He said that consumers are opting for mortgages with smaller lenders rather...
Continue Reading • 28 Apr 2011
CBRE sees strong Q1 revenue growth
Commercial property services company CB Richard Ellis (CBRE) has reported strong earnings and revenue growth in the first quarter of this year, boosted by an improved credit market and a rebound in commercial property sales and leasing.The firm posted a 16 percent increase in revenue to US$1.2...
Continue Reading • 28 Apr 2011
Koon Holdings secures S$16.3m in precast contracts
Infrastructure, construction and precast company Koon Holdings, through its wholly-owned subsidiaries Econ Precast Ltd and Contech Precast Ltd, has secured new precast projects worth S$16.3 million.Under the contract, Econ and Contech will supply, design and deliver precast components for public...
Continue Reading • 28 Apr 2011
MAS projects S'pore GDP growth at higher end of 4 - 6% forecast
Singapore’s economy is expected to grow at the higher end of the official four to six percent forecast this year, according to the Monetary Authority of Singapore (MAS), in its recent half-yearly macroeconomic review.The result implies that there is adequate momentum for the world economy...
Continue Reading • 28 Apr 2011
CDL Hospitality Trusts Q1 results strong
Increasing acquisitions and visitor arrivals helped boost CDL Hospitality Trusts' (CDLHT) results in the first quarter ended 31 March.CDLHT, a stapled group comprising CDL Hospitality Business Trust and CDL Hospitality Real Estate Investment Trust (H-REIT), recorded a gross revenue growth of 21.4...
Continue Reading • 28 Apr 2011
OCBC Malaysia offers loan for London homes
OCBC Bank (Malaysia) Bhd revealed that it will provide a new mortgage loan facility to help customers finance their residential property purchases in prime sections of central London.With the launch of the new scheme, customers can now invest in London properties with peace of mind, knowing that...
Continue Reading • 27 Apr 2011
Starhill Global REIT's Q1 DPU at record 1.07 cents
Starhill Global REIT’s Malaysian and Australian purchases in 2010 has helped buoy Q1 income distribution for unitholders.Income available for distribution increased 27.9 percent to S$24 million. Of this, S$20.8 million was meant for distribution to unitholders, an increase of 13.1 percent....
Continue Reading • 27 Apr 2011
CDL expands into Asia
Singapore property developer City Development Ltd (CDL) plans to develop residential projects in Thailand for THB18 billion (US$600 million), as well as take over hotels and resorts in the country and other Asian markets.Suchad Chiaranussati, Director of M Residence, a wholly-owned subsidiary of...
Continue Reading • 27 Apr 2011
CapitaLand's Q1 profit jump staggering
Southeast Asia’s largest property developer, CapitaLand, has posted a net profit of S$101.5 million in the first quarter, up 241 percent from the restated net profit of S$29.8 million over the same period last year.Q1 revenue also rose 39 percent to S$611.5 million, mainly attributed to...
Continue Reading • 27 Apr 2011
US homeowners can get low-rate loans for energy upgrades
Most US homeowners are now qualified for up to US$25,000 in federally insured loans to develop energy-efficient upgrades such as sealing ducts, adding insulation or replacing windows.Consumers with manageable debt, good credit scores and some equity in their homes can obtain PowerSaver loans...
Continue Reading • 26 Apr 2011
S'pore inflation rate maintained at 5%
Singapore’s inflation remained unchanged at five percent in March, similar to the five percent increase in consumer prices in February.According to the Department of Statistics, the consumer price index (CPI) increased five percent year-on-year in March, primarily due to higher housing,...
Continue Reading • 26 Apr 2011
Singapore govt boosting green building efforts
Innovative technology and design are essential in Singapore, as the property industry works to adopt green building practices, which are largely driven by the robust regulatory framework.Singapore’s position as one of Asia’s green building leaders, and the integration of green designs...
Continue Reading • 26 Apr 2011
Mortgage approvals for UK landlords rise
Mortgage lenders in the UK are rejecting first-time home buyers and other conventional applicants but are instead approving mortgage applications for landlords, which could ignite fears of a fresh buy-to-let bubble.According to statistics released by Moneyfacts, the amount of buy-to-let mortgages...
Continue Reading • 25 Apr 2011
Workers' Party defends housing proposals
The Workers’ Party (WP) has no plans of crashing Singapore’s property market, said Chairman Sylvia Lim, in response to National Development Minister Mah Bow Tan’s latest remarks.Mr. Mah had asserted that the WP’s proposed housing policies would “devalue the assets of...
Continue Reading • 25 Apr 2011
WP's housing proposals slammed by Minister Mah
Housing will not be a make-or-break issue in the 2011 general elections, according to Mah Bow Tan, Minister of National Development.“There are so many other issues,” he said during a press conference after a youth dialogue on the new Tampines Town Hub.But Mr. Mah again took pains to...
Continue Reading • 25 Apr 2011
Aussie banks extend repayment periods for Queensland home owners
Home owners in flood-stricken Queensland with mortgages from Australian banks have received news regarding the extension of the freeze on repayment periods.Lenders came under fire after it was proposed that the payment-free period for home loans would only last 90 days, despite the fact that...
Continue Reading • 21 Apr 2011