Financial One may delist on SGX
Taiwan’s Financial One Corporation may soon delist on the Singapore stock exchange, after a poor response from investors since its listing in 2007.Financial One, the first and only Taiwanese company listed on the SGX, said the company’s executive chairman Andre Koo is planning an exit...
Continue Reading • 19 Nov 2010
Asia to remain robust next year, says MTI
Asia’s macroeconomic conditions are expected to see supportive growth next year, said the Ministry of Trade and Industry.The advanced economies will continue to grow albeit at a slower pace, and the rebound in business investment will continue to pick up, fuelled by accommodative monetary...
Continue Reading • 19 Nov 2010
UK mortgage lending down 9% on-year
Mortgage lending in the UK dropped to its lowest level in October, as activity in the residential market remain subdued, according to latest figures.About £12.4 billion had been lent during the month, unchanged from the September result but down 9 percent compared with October last year,...
Continue Reading • 19 Nov 2010
Mortgage fraud in the US on the rise
The level of mortgage fraud in the United States has increased since last year, with sales of foreclosed homes the most likely target, according to a report released by CoreLogic.Mortgage fraud cases peaked at 109 in 2006, and fell to 68 in early 2009. However, it rose by over 20 percent to 82...
Continue Reading • 18 Nov 2010
Singapore economy to expand 15% this year
The Singapore economy is likely to see a growth of 15 percent this year and 4 percent to 6 percent next year, said the Ministry of Trade and Industry.Based on preliminary estimates, the Singapore economy expanded 10.6 percent in Q3 from the previous year, compared to a record growth of 19.5...
Continue Reading • 18 Nov 2010
St. Regis opens first luxury resort in Tibet
Starwood Hotels & Resorts Worldwide, Inc. has opened The St. Regis Lhasa Resort, the first-ever luxury resort in Tibet and the first property for St Regis in China.“We are proud to debut the St. Regis brand in China with the opening of The St. Regis Lhasa Resort, offering our discerning...
Continue Reading • 16 Nov 2010
US borrowers go for fixed-rate mortgages
In the third quarter, about 95 percent of US borrowers chose fixed-rate contracts when refinancing their homes, according to the US Federal Loan Mortgage Corp.US homeowners who previously had adjustable-rate loans or 30-year loans were likely to choose 30-year fixed-rate mortgages when...
Continue Reading • 16 Nov 2010
Fragrance to acquire Upp Paya Lebar site
Fragrance Group Limited, through its wholly-owned subsidiary, Fragrance Properties Ltd, has agreed to purchase a site at Upper Paya Lebar Road for approximately S$28 million.The freehold property site, which currently houses old apartment blocks, has a total land area of 3,173.6 sq m with a gross...
Continue Reading • 16 Nov 2010
Aussie home loans stabilise
An improved September result for home lending in Australia indicate that home loans have stabilised, but the recent increase in interest rates may likely limit any further increases, according to economists.According to the Australian Bureau of Statistics, Australian housing finance commitments...
Continue Reading • 15 Nov 2010
Moderate economic growth in 2011, says PM Lee
Singapore’s economy cannot grow another 10 percent in 2011 as another growth spurt would mean risks in overheating bringing in foreign workers, said Prime Minister Lee Hsien Loong.A growth range of 3 percent to 5 percent in the medium term would be more realistic, said Mr. Lee after the...
Continue Reading • 15 Nov 2010
Metro Holding's Q2 profit up 19.7%
Property and investment group Metro Holdings Ltd has announced that its net profit rose 19.7 percent in the second quarter to $43.4 million, attributed to higher revenue from its property and retail businesses.The group recorded $51.9 million in earnings for the second quarter ended 30 September...
Continue Reading • 15 Nov 2010
Bukit Sembawang's Q2 revenue jumps to $92.2m
Bukit Sembawang Estates Ltd’s revenue for the second quarter jumped to $92.2 million from $20.7 million over the same quarter last year, while earnings soared to $30.9 million from $6.7 million.The company’s Q2 net profit also climbed to more than four times over the same period last...
Continue Reading • 15 Nov 2010
Soilbuild's revenue down 52% in Q3
Integrated property developer Soilbuild Group has reported that its revenue in the third quarter declined 52 percent to S$45.9 million from S$95.0 million a year ago, on the back of a 27 percent decline in Q3 gross profit to S$23.4 million against the S$31.9 million achieved a year ago.This was...
Continue Reading • 12 Nov 2010
ARA's YTD profits jump 11%
Real estate fund management firm ARA Asset Management Limited has posted an 11 percent increase in net profit in the nine months ended 30 September 2010 to S$38.1 million.The company’s total year-to-date revenue also jumped 19 percent to S$70.8 million, driven by a 28 percent increase in...
Continue Reading • 12 Nov 2010
Weekly mortgage demand in the US rises
Demand for home loans in the US recovered sharply in the last week, thanks to low fixed mortgage rates, which still hover near all-time lows.According to a report from the Mortgage Bankers Association (MBA), the total loan applications index, a gauge of mortgage loan application volume, increased...
Continue Reading • 12 Nov 2010
Koh Brothers' profit soars 38% to S$10.1m
Construction and property development group Koh Brothers has announced that its net profit for the nine-month period ended 30 September 2010 jumped 38 percent to S$10.1 million, compared to S$7.3 million over the same period last year.The growth was achieved on the back of a 14 percent jump in...
Continue Reading • 12 Nov 2010
UE's profits up nearly 200%
Property and construction group United Engineers Limited has posted a 35 percent increase in revenue to $655.8 million in the nine months ended September 30, attributed to progressive recognition of revenue from property sales, while net profit jumped 199 percent to $96.9 million.Revenue from...
Continue Reading • 12 Nov 2010
UOE records healthy profit boost
Mainboard-listed property group Overseas Union Enterprise (OUE) reported that its net profit in the third quarter climbed more than 16 times to $127.3 million from $7.5 million a year ago, on the back of a 52.9 percent increase in revenue to $512.2 million.This was largely attributed to the...
Continue Reading • 12 Nov 2010
UOL's Q3 net profit up 18%
UOL Group has announced that its net profit for the third quarter rose 18 percent from $105.6 million to $124.7 million, while revenue jumped 7 percent year-on-year to $345.2 million from $323.9 million.The growth in turnover was due to the progressive recognition from the sales of UOL’s...
Continue Reading • 11 Nov 2010
CDL Q3 earnings up 1.1%
International property and hotel conglomerate City Developments Ltd (CDL) has posted a 1.1 percent year-on-year rise in Q3 net profit to 195.8 million, while revenue declined 20.8 percent to $745.5 million from $940.9 million a year ago.Though the company has achieved strong sales for its...
Continue Reading • 11 Nov 2010