Great Eastern reports Q1 results
Great Eastern has announced that its net profit for the first quarter dropped 24 percent to S$179.1 million, compared to the same quarter last year. The insurance firm’s Q1 results was attributed to a higher base in Q1 net profit last year coming from a...
Continue Reading • 5 May 2010
Top Malaysian banks to introduce more IPOs in Singapore
Several leading Malaysian investment banks are increasingly targeting a bigger slice of the initial public offering (IPO) launches in Singapore, bringing with them not just their expertise in the housing market but more diversity in their pool of listing candidates. AmFraser Securities is...
Continue Reading • 5 May 2010
The 60-minute promise of POSB
HDB home loans from POSB can now be secured within 60 minutes, in a move to improve convenience and efficiency for customers, said the bank. With POSB's 60-minute promise, borrowers who apply for HDB home loans can complete and return the necessary documents through fax or email from Monday to...
Continue Reading • 5 May 2010
Opening of new CCL stations retards business at CityLink Mall
Retailers usually benefit from the opening of new MRT stations and train services. However, stores at CityLink Mall are seeing the reverse, with business dropping 20 percent to 30 percent, on average, after the new Circle Line (CCL) stations in the area opened in April....
Continue Reading • 5 May 2010
Fortress Investment setting up office in Singapore
Fortress Investment, one of the largest publicly traded alternative asset managers in the world, plans to restore its operation in Asia and is working to set up an office in Singapore. Hedge funds have been creating a path for Asia, driven by the strong economic...
Continue Reading • 5 May 2010
Fannie Mae to increase mortgage requirements for applicants
Government-backed mortgage lender Fannie Mae has released its latest list of requirements for mortgage applicants, in a move to ensure that the US property market continues its upward swing. These new changes will affect home borrowers in the US who are applying for...
Continue Reading • 4 May 2010
Private-equity funds unable to invest US$80 billion
Private-equity funds that purchase real estate were unable to invest as much as US$80 billion due to difficulty in finding deals, and some of that may be lost if it is not spent this year, according to a report by London-based research firm Preqin Ltd. The figure...
Continue Reading • 4 May 2010
Asian recovery gains likely to increase capital inflow risks
Strong economic growth in the Asian region and rising interest rates are luring more capital inflows. However, many observers stressed that unlike the months before the financial crisis hit Asia in 1997, there are some concerns about money flowing in. But for now,...
Continue Reading • 4 May 2010
Singapore casts wider net for investors looking to tap into Asian growth story
Investment interest in Singapore from non-traditional locations including Russia and the Middle East is escalating, as firms look for a base from which to tap the growth of Asia. Currently, around 310 Middle East companies are registered in the country, higher than...
Continue Reading • 4 May 2010
Ying Li issues earnings warning for its H1 performance
Mainboard-listed property developer Ying Li International Real Estate has issued a profit warning for its performance for the first half of the year ending June 30.The firm said that it expects an increase on its expenses after issuing convertible bonds worth S$200 million.The residential and...
Continue Reading • 4 May 2010
95% home loans to attract Australian buyers
Home loans in Australia for which borrowers could borrow up to 95 percent of the total value of the house have started to reappear in the Australian mortgage market, as non-bank lenders try to lure first-time homebuyers away from major banks. Last week, Hemisphere...
Continue Reading • 3 May 2010
Singapore market opens on a weak note
The market started the week on a negative note, with the key Straits Times Index down 0.64 percent or 19.03 points at 2,955.58.In the broader market, losers beat gainers at three to one in a volume of 49 million valued at $45.9 million.Top decliners included SPH, HL...
Continue Reading • 3 May 2010
Realty firms in Singapore stop lending activities
Property firms in Singapore with moneylending arms, and which have roaring business operations, are now putting the brakes on their ventures.Their activity came under scrutiny after National Development Minister Mah Bow Tan said in Parliament that the Ministry of...
Continue Reading • 3 May 2010
Tuan Sing's earnings up in Q1
With the strong sale, profit recognition and progressive revenue on its property projects in Shanghai, Tuan Sing Holdings has announced that its net profit for the first quarter was $20.9 million, up from last year’s $724,000.Its revenue has more than doubled from $29.6 million to $105.7...
Continue Reading • 3 May 2010
STC signed no agreement on Orchard site
Ms. Chew Gek Khim, executive chairman of Straits Trading Company (STC), said the company did not sign any contract with OCBC Bank on the development of the prime Specialists' Shopping Centre and Hotel Phoenix site in Orchard Road. “Contrary to popular belief,...
Continue Reading • 3 May 2010
Mortgage rates in the US drop in the latest week
Mortgage rates in the US dropped in the latest week, according to a closely watched mortgage survey yesterday, with rates still at low levels that should work well for the housing market.Lower mortgage interest rates may sustain home loan refinancing activities, pouring more cash into the hands...
Continue Reading • 30 Apr 2010
The Estuary writeback boosts MCL Land's Q1 profit
MCL Land’s net earnings of an eye-popping US$48.7 million during the three months of the year was mainly attributed to a writeback of an impairment charge of US$51 million for The Estuary condominium project in Yishun. The group reported a net profit of US$1.4 million over the same period...
Continue Reading • 30 Apr 2010
Ho Bee Investment's net profit up 11.8% in Q1
Property developer Ho Bee Investment reported a net profit of $41.7 million for the first quarter ended 31 March 2010, up 11.8 percent compared with the same period in 2009.The increase from $1.9 million to $10.8 million was mainly attributed to a surge in share of profit of jointly controlled...
Continue Reading • 30 Apr 2010
Mortgage exam for first-time buyers in the UK
First-time homebuyers in the UK should be properly educated about mortgages and that “they should be sold like driving licences, after study and an exam,” according to a national debt charity.During the Consumer Credit Counselling Service (CCCS) Annual Convention, CCCS Chairman...
Continue Reading • 29 Apr 2010
JLL Singapore's Q1 revenue up 27%
Jones Lang LaSalle Singapore has posted a 27-percent year-on-year increase in revenue for the first quarter of 2010.“The Singapore business is in a good position for the year ahead due to the strong performance of our residential project sales, office leasing, investment sales and property...
Continue Reading • 29 Apr 2010