180 units sold at Green Meadows
United Overseas Land Limited (UOL) sold 180 out of 250 available units at the private preview of its condo, Meadows@Peirce.According to UOL, flats in the project located in Upper Thomson Road were purchased at an average price of $880 per square foot. Out of the 180 units sold, 87 three-room...
Continue Reading • 28 Dec 2009
Keppel’s one-off gains increased profits to $740m
Keppel Corp has posted their solid earnings for the second quarter, but its book order was another story.The net profit for the past three months ended June 30 climbed 147 percent to $739.5 million, after a sum of $422.2 million was included in the one-off gains.Aside from these increases, profit...
Continue Reading • 28 Dec 2009
Four firms bag Asia-Pacific logistics awards
Four home-grown companies were honoured as the finest logistics operators in the Asia-Pacific region during the yearly awards ceremony.PSA International was labelled yesterday as the best operator of container terminal, while Northport in Malaysia was awarded as the top operator of multi-purpose...
Continue Reading • 28 Dec 2009
Houses and golden mattresses
Harry Chua, Chairman & CEO at Hersing Corporation Limited, does not just sell a house to buyers, he sells mattress as well.Two months after Hersing Corporation launched the Dozz Mattress salesroom at its main office located in Toa Payoh, ERA Singapore’s holding company has its eyes on...
Continue Reading • 28 Dec 2009
Keppel Land’s net profit mounts 10.4 percent
Keppel Land reported yesterday a 10.4 percent year-on-year increase in its second quarter profits. The company said it will accelerate launches in Singapore and the region while the market picks up.According to CEO Kevin Wong during a briefing, “With improved market sentiment, we plan to...
Continue Reading • 28 Dec 2009
Keppel Land’s net profit grows in Q2
Keppel Land reported the previous day a 10.4 percent rise in its second quarter earnings. The company also stated that as the property market gets better, it will accelerate launches in the region and in Singapore.CEO Kevin Wong said at a briefing, “With improved market sentiment, we plan...
Continue Reading • 28 Dec 2009
Sentiment drives asset price increases in Asia
The latest asset prices rebound in Asia is not because of the loose financial conditions or the foreign capital deluge, according to the report of Cem Karacadag, an economist at Credit Suisse.Rather, ameliorating sentiment among capitalists is probably the major driving force responsible for the...
Continue Reading • 28 Dec 2009
MI-Reit to delay its acquisition deal
Macarthurcook Industrial Reit (MI-Reit), which plans to purchase four industrial buildings from AMP Capital Holdings, will move the date of its deal to 11 January 2010.In filings to the Singapore Exchange, MI-Reit also gave an update on its rights issue, as well as announced new names and the...
Continue Reading • 28 Dec 2009
Improve the operational efficiency of buildings to boost returns
Companies that failed to hike up revenue can protect their bottom line by cutting their costs. In the same way, property owners who are experiencing falling rents and capital value can maintain their returns by trimming on their operating costs. According to EC Harris, an asset consultancy firm,...
Continue Reading • 28 Dec 2009
Investors receive an unexpected Christmas gift
The stock market gave investors an unexpected Christmas gift last week, sending the main US equity indexes into the long holiday weekend with a Santa Claus rally, gaining new highs for the year and reaching a winning streak for five days, as markets closed in the US early last Thursday.There is a...
Continue Reading • 28 Dec 2009
Asian REITs survive the first half of the year, but challenges still remain: CBRE
In the first half of 2009, most Asian REITs have endured the economic crisis but according to CB Richard Ellis (CBRE), challenges – from diluting gearing to increasing distributions – remain ahead.According to a property consultancy’s report released yesterday, the market...
Continue Reading • 28 Dec 2009
Three-Minute Periodical
Temasek Holdings removes all straight references to Singapore, as well as the government in its modernised charter - a motivation seen as an effort to support and strengthen its qualifications as an investment firm controlled exclusively by business interests.US President Barack Obama retains Ben...
Continue Reading • 28 Dec 2009
Singapore dollar edges past major counterparts
The bulls for now seem to be taking a breather as stocks in Asia and the United States have handed over their gains, snapping a streak of solid gains seen over the last past week.Unsurprisingly, risky currencies also withdrew against the greenback despite the fact that the Singapore dollar edged...
Continue Reading • 28 Dec 2009
Risky asset recovery performance based on crucial factors
Risk on hedging equities positions for long-term portfolios of investors have sharply increased along with prices.The recent correction of 20 percent in stock prices on Shanghai stock exchange may not have indicated the stock rally’s end, but instead might serve as a warning and prediction...
Continue Reading • 28 Dec 2009
Consumer confidence increases in Q2
A research conducted by Nielsen Global Consumer Confidence Survey shows that consumer confidence has improved during the second quarter, as uncertainties over employment security and the financial system fades.As determined by a June survey of 500 online consumers, Singapore's consumer confidence...
Continue Reading • 28 Dec 2009
2009 visitor arrivals post smallest downturn at 4.5%
Visitor arrivals fall down by 4.5 percent at 881,000 in July, marking the smallest downturn in 2009.In comparison, visitor arrivals in June were 8.9 percent lower at 750,000, but arrival days in July were at 4.6 million, a yearly decline of 11.6 percent.The top five visitor generating markets in...
Continue Reading • 28 Dec 2009
TA Enterprise Berhad to acquire Swissotel Merchant Court Singapore
TA Enterprise Berhad, which is listed with Bursa, has agreed to purchase the Swissotel Merchant Court Singapore from LaSalle Asia Opportunity II SARL for about $260 million.The price of acquisition totals to almost $546,200 for each room.The site of the 476-room hotel is on a lease for almost 84...
Continue Reading • 28 Dec 2009
STI recovers following Wall Street rally
Singapore Exchange’s Straits Times Index (STI) bounced back following improvement at Wall Street.After dropping 86 points in last week's sell-off that was allegedly brought about by weakness in the stock market of China, STI rebounded by 67.47 points and closed at 2,612.33 yesterday after...
Continue Reading • 28 Dec 2009
SME owner’s view in building Singapore Inc
According to R Theyvendran, the chairman/managing director of Stamford Media International Group of Companies, though the furniture division model can be copied into many other divisions, in economic and trade matters, Singapore carries a great reputation. He said that their tourism division has...
Continue Reading • 28 Dec 2009
Singapore remains unaffected amid shift on income tax patterns
A tax-friendly environment remains in Singapore, but a KPMG study conducted globally has discovered that the decline in the highest personal income based on tax rates throughout the past seven years may reach its final stage, as governments worldwide look for new references of spending...
Continue Reading • 28 Dec 2009