Banyan Tree divests Thai assets
Banyan Tree Holdings, which is known for its resorts in Thailand, is seeking to diversify its portfolio by growing its presence in other emerging markets and divesting some of its properties in Thailand.“The frequent political events in Thailand have prompted us to accelerate our plans to...
Continue Reading • 16 Aug 2010
F&N Q3 earnings up 6%
Fraser and Neave (F&N) has posted an increase in profits in the third quarter on the back of a strong performance across its property segment and other business arms.The company’s net profit after fair-value adjustments and exceptionals reached $130.6 million, up 6 percent from the...
Continue Reading • 16 Aug 2010
SC Global's profit soars 5 times in Q2
SC Global Developments, a property developer of exclusive high-end luxury residences, has posted a five-fold increase in its Q2 net profit, to $40.4 million from $7.8 million over the same period last year.This was attributed to the higher revenue recognition from development projects such as...
Continue Reading • 16 Aug 2010
Chip Eng Seng's Q2 profit up 56%
Construction and property group Chip Eng Seng Corp recorded a net profit of $22.4 million in the second quarter, up 56 percent from $14.4 million over the same period last year. The increase in net profit was attributed to higher construction activity and property sales.The group’s revenue...
Continue Reading • 16 Aug 2010
Home loans in Shanghai drop 98%
New mortgage loans in Shanghai slumped 98 percent last month as the central government imposed measures to curb property speculation, deterring investors from purchasing homes.According to the Shanghai branch of the People’s Bank of China, home loans fell 11.4 billion yuan ($1.68 billion)...
Continue Reading • 13 Aug 2010
Amara posts H1 revenue of S$29.1m
Mainboard-listed Amara Holdings Limited has posted revenue of S$29.1 million for the first half of the year, with the group’s hotel investment and management segment generating higher revenue.The group saw a 55 percent decrease in revenue in the first half of 2010, to S$29.1 million from...
Continue Reading • 13 Aug 2010
United Engineers' net profit rose more than 200% in H1
United Engineers has posted a 33 percent increase in revenue in the first half of the year, largely attributed to property sales during the period. The group’s net profit increased more than 200 percent to $62.4 million.The company’s revenue from leasing and property development...
Continue Reading • 13 Aug 2010
Soilbuild net profit jumps 66% in Q2, revenue down 24%
Soilbuild Group said that its net profit in Q2 jumped 66 percent to $32.7 million despite a 24 percent drop in revenue to $73.6 million.Revenue was 26 percent less year-on-year at $69 million. This is mainly due to lower contributions from property development, with no contributions recorded from...
Continue Reading • 13 Aug 2010
Genting Singapore hits jackpot in Q2
Genting Singapore hit the jackpot in the second quarter, posting revenue of S$979 million, up from S$120 million in 2009, which was attributed to the contributions of Resorts World Sentosa (RWS).The company also saw a significant increase in net profit to S$397 million this year from a S$50.7...
Continue Reading • 13 Aug 2010
CDL unveils $300m expansion in China
Property developer City Developments Limited (CDL) has announced its expansion plans into the China real estate market, setting aside $300 million as starting capital for its newly-formed unit, CDL China Limited.Mr. Kwek Leng Beng, executive chairman of CDL, said that given the tightening of the...
Continue Reading • 13 Aug 2010
New laws in Australia will make it easier compare home loans
Australians will find it easier to compare home loans with the creation of new federal consumer protection legislation, according to an expert.Lisa Montgomery, head of Resi Mortgage Corporation, a consumer advocacy in Australia, said that the creation of consumer credit protection legislation in...
Continue Reading • 12 Aug 2010
Yanlord's Q2 earnings rise 9%
China-based high-end residential developer Yanlord Group has announced that its net profit in the second quarter increased 9 percent to $99.9 million, attributed to the increase in gross floor area (GFA) delivered.Q2 revenue rose 1 percent to $622.1 million, while gross profit margin climbed 1.3...
Continue Reading • 12 Aug 2010
Koh Brothers' net profit climbs 22% in H1
Mainboard-listed Koh Brothers Group Limited has posted a 22-percent increase in net profit in the first half of 2010, to S$5.4 million from S$4.4 million over the same period last year.The strong H1 result was attributed to the 27-percent growth in sales to S$176.7 million, which was derived from...
Continue Reading • 12 Aug 2010
CDL's net profit jumps 17.6% in Q2
Southeast Asia's second-largest property developer City Developments Limited (CDL) has announced that its net profit in Q2 increased 17.6 percent to S$164.6 million from S$140 million over the same period last year.CDL said that the increase in net profit was attributed to the higher...
Continue Reading • 12 Aug 2010
LaSalle Investment Management completes three deals
LaSalle Investment Management, a leading global real estate investment manager, has announced that it sealed three transactions in the Asia Pacific region worth US$345 million in early August.The transactions include the acquisition of Japan’s Nasu Outlet Mall by LaSalle Asian Opportunity...
Continue Reading • 12 Aug 2010
UK to face more mortgage fraud
Mortgage fraud in the UK looks set to increase, according to a financial expert, but the extent of the issue is not fully clear.Neil Munroe, a spokesperson for information solution group Equifax, made his comments to the publication of the KPMG Fraud Barometer, which showed that mortgage...
Continue Reading • 11 Aug 2010
Singapore could face recession risk in H2
A possible annualized contraction is likely to hit the Singapore economy in the second half of this year due to the global economic downturn, but the country remains to course on becoming one of the fastest growing countries in the world.The Singapore government remains firm on its 2010 growth...
Continue Reading • 11 Aug 2010
KSH reports 56% rise in net profit
Construction and property management group KSH Holdings Limited has posted a 56-percent rise in net profit to S$4.3 million for the first quarter that ended 30 June 2010.Revenue also increased 21 percent to S$72.4 million from S$60.0 million.The company’s core construction business remains...
Continue Reading • 11 Aug 2010
Housing finance in Australia down in June
Housing finance commitments for owner-occupied homes in Australia dropped a seasonally-adjusted 3.9 percent in June to A$20.71 billion, surpassing analysts’ forecast of a 2 percent decline, according to the Australian Bureau of Statistics.A survey conducted by Reuters predicted the number...
Continue Reading • 10 Aug 2010
Singapore to become Asia's fastest-growing economy
Singapore is set to become the fastest growing economy in Asia this year as all the markets have responded positively to economic growth.Jones Lang LaSalle (JLL) has expressed a positive outlook for the office market due to the buoyant economic data, while residential activity remains healthy...
Continue Reading • 10 Aug 2010