A-REIT distribution per unit fell to 13.2 percent
Ascendas Real Estate Investment Trust (A-REIT) is handing out 3.48 cents for every unit for the Q2 ended September, which showed a 13.2 percent fall on-year.However, compared to last year during the same period, the total distributable income of A-REIT has increased to 15.4 percent at S$61.6...
Continue Reading • 20 Oct 2009
Vanishing Singapore partly caused by En bloc sales
“Where did you go, my Singapore of old?”, a statement made by Paul Carthigasu in reference to the destruction of almost everything in Singapore as a result of change and development. He believes that much of Singapore’s soul has been lost because of its ongoing redevelopment...
Continue Reading • 20 Oct 2009
Allgreen’s fair value gain plunges
Net profit amounting to $67.4 million has been reported by Allgreen properties yesterday. This year’s net profit has declined by 86.34 percent, a fall from $493.5 million of last year. This decline in the company’s net profit comes along with the $8.35 million decrease in fair value...
Continue Reading • 20 Oct 2009
Koh Brothers reports decline in profits
The 2008 net profit for Koh Brothers showed a decline from $39.7 million last year to $27.7 million, according to the construction and property group’s report yesterday.The decline was attributed to the lack of revaluation gain this year. Back in 2007, the revaluation gain was pegged at...
Continue Reading • 20 Oct 2009
81 percent fall in UOL’s profit
UOL Group revealed an 81 percent fall in its net profit. The property developer’s profit plummets to $147.2 million for the previous year, ending in December 31. The fall was largely due to a fair value loss amounting about $106.8m on its investment properties versus the $590.5m that it...
Continue Reading • 20 Oct 2009
Forecasts for 2009
The first forecast is from Dr. Chua Hak Bin, Citigroup's head of equity research. According to him, the key of 2009 is Singapore’s budget, which will save jobs and eventually lure global firms. Furthermore, he explains:“Two themes will dominate the first half of next year - recession...
Continue Reading • 20 Oct 2009
Foreign Workers’ Town
Mini Environment Services (MES) is planning to build a town for foreign workers. At a cost of $200 million, it has tapped Surbana International to design the project and Certis Cisco to oversee the security concerns of the project which is expected to rise in Jurong. The project has come about...
Continue Reading • 20 Oct 2009
Capella Singapor to Open in March 2009
Capella Singapore, designed by the Norman Foster, the famous British architect, is set to open in March 2009. It will be run by the West Paces Hotel Group of Atlanta. Costing some $400 million about six years in the making, Capella Singapore is the first property in Asia to be managed by the West...
Continue Reading • 20 Oct 2009
Constant recovery seen in Singapore investor sentiment
In the third quarter of 2009, Singapore investor sentiment continued to see recovery.Across Asia, the highest increase in investor sentiment was seen in the Singapore ING Investment Dashboard Sentiment Index. From Q2, the figure jumped 24 percent within the three months to September.In Q3 from...
Continue Reading • 16 Oct 2009
'Shoebox' apartments might drop under URA
In Singapore, the newest type of ‘shoebox’ flats may have captivated the property enthusiasts’ thoughts; however they are not anticipated to intrude the housing landscape. Some of them may not even have the approval of the planning authority, if latest conclusions are anything...
Continue Reading • 15 Oct 2009
Stricter rules to regulate property agents
The Singapore government has proposed new initiatives to control property agents in the country. Such means include enforcing the rules more keenly and monitoring their activities more closely. A new government agency will be created to employ the improved regulatory powers.This new accreditation...
Continue Reading • 15 Oct 2009
What happens during Earth Hour?
Tonight at 8:30 p.m., corporate and individuals in Singapore will switch off their lights to mark Earth Hour. WWF Singapore will be the one to organise the event. More than 500 agencies and institutions in the country will participate on the said event by turning off their lights as a form of...
Continue Reading • 14 Oct 2009
Keppel pushed by CEO to fight-fit
The chief executive officer of KEPPEL Corp, Choo Chiau Beng, made it clear that his quick mission in his first yearly report as CEO is to push the company out of the financial downturn in a fighting-fit position.“My top priority is to make Keppel fighting-fit by becoming leaner and...
Continue Reading • 14 Oct 2009
Youcan’s plan to purchase factory site
Yesterday, shareholders had rejected an offer by the Youcan Foods International’s chief executive officer to vend the new factory’s development rights and land use, which he held a substantial share to the subsidiary of the ice cream maker.Youcan, a Chinese company included in...
Continue Reading • 14 Oct 2009
Singapore’s DC rate affects greenery project
The new incentives launched to support Singapore’s green building project affects the formula for development charges (DC) calculation.The Urban Redevelopment Authority and Building and Construction Authority offer a 1% bonus Gross Floor Area (GFA) for the total GFA covered at 2,500 square...
Continue Reading • 14 Oct 2009
New properties boost MapletreeLog's Q1 income
With extra contributions of nine properties acquired for the past years, the Mapletree Logistics Trust (MapletreeLog) ended up with 36.1 percent distributable income to $28.6 million from the first quarter this year.However, due to the enlarged unit base, the distribution per unit (DPU) dropped...
Continue Reading • 14 Oct 2009
CapitaLand expects a weak financial output
In the annual general meeting of CapitaLand, chief executive Liew Mun Leong said that CapitaLand is expected to get a weaker financial performance this year as compared in 2008. However, the company’s property group, including its retail, residential and serviced residences division expects...
Continue Reading • 14 Oct 2009
CapitaLand and Keppel Corp issues active
CapitaLand and Keppel Corp warrants are expected to become the centre of attention for investor this week, just ahead for the companies’ release of their Q1 earnings results.Keppel Corp announced the release of its Q1 earnings results on Thursday. Recently, it declared a $518 million...
Continue Reading • 14 Oct 2009
URA spread its wings
Singapore took 35 years of making a plan and shaping its physical landscape and now, the Urban Redevelopment Authority (URA) is well prepared for a bigger canvass.The URA Consulting Group (URACG) was put up in order to provide a planning expertise for the overseas projects. Meanwhile, in...
Continue Reading • 14 Oct 2009
Measure to prohibit ‘one agent for buyer and seller’
The Singapore government is considering an action to prohibit property agents from representing both the HDB flat’s buyer and seller in a similar transaction.Such a decision aims to get the affirmation of sellers and home buyers. However, some agents are expected to disagree with the idea...
Continue Reading • 14 Oct 2009