CapLand Meets Property Valuers
Sources recently told BT that CapitaLand has met with property valuers to talk about the valuation process. CapitaLand is Singapore’s biggest developer in terms of market capitalisation.Liew Mun Leong, CapitaLand chief executive, chaired the meeting. Present at the meeting were CapitaLand...
Continue Reading • 13 Oct 2009
$8m boost in rooftop landscaping project
An $8 million scheme for three years was announced yesterday by the National Parks Board (NParks) to co-fund a rooftop landscaping project around the city.Also, the landscaping for urban spaces and high-rises (Lush) programme was introduced by the Urban Redevelopment Authority (URA) to help...
Continue Reading • 13 Oct 2009
UOL rejects planned increase of funds
The need to raise money is not a current requirement for UOL Group, though it is likely to weigh up a rights issue if it will need money for assets acquisition, said chairman Wee Cho Yaw the previous day at the 46th annual general meeting of the property company.Several shareholders, who asked...
Continue Reading • 13 Oct 2009
Suntec REIT secures new loan facility
Recently, a loan facility amounting to $825 million was secured by Suntec REIT. With this new loan, the retail and office trust will ho longer need further refinancing up to 2011.The said loan, which will be utilised to refinance the existing debts of the company, comprises a seven-year...
Continue Reading • 13 Oct 2009
Industrial output plummets by a third
The Economic Development Board revealed the previous day that industrial output for the month of March dropped by one-third from the previous year. The fall went beyond the Bloomberg poll estimates of a 24 percent drop. On a seasonally adjusted basis, there was a 13.9 percent drop in the...
Continue Reading • 13 Oct 2009
Keppel Land to raise $712m
Despite concerns on the debt ratios, Keppel Land is generating $712m through a rights issue. This has surprised some despite several reports of a possible cash call this year, as rights issue prospects were allayed.Yesterday, Keppel Corporation’s property arm announced its plan to present a...
Continue Reading • 13 Oct 2009
CapitaLand profits dropped 83% in Q1
Yesterday, the property firm CapitaLand revealed a big fall in its Q1 earnings, and declared little chance for a fast turnaround with the present market conditions.The firm reported a net income decline of 82.7 percent to $42.9 million for the first quarter of 2009, indicating that income during...
Continue Reading • 13 Oct 2009
Keppel Land’s net profit drops 39%
Weaker sales of homes have affected earnings of Keppel Land, resulting to 38.8 percent drop to $36.9 million in its net profit for Q1.Revenue was much affected, dropping 46.6 percent to $145.7 million.Overseas sales accounted for 25.5 percent of Keppel Land’s net profit in Q1, down by 28.7...
Continue Reading • 13 Oct 2009
CEO bonus – the talk of the town
Property firm CapitaLand is heading today to its annual general meeting in the inept situation of justifying the bonus amounting to $20.52 million that was paid to CEO Liew Mun Leong in 2007. The big bonus, which is believed as the biggest bonus ever paid to a CEO in one year, has instantly...
Continue Reading • 13 Oct 2009
Controversy on apartment sub-division
The Urban Redevelopment Authority (URA) said that while applications to sub-divide flats are being processed, it is followed by whether sub-division will diminish the amenities of other people settling there, like families, and change the character of a development.URA was reacting in The...
Continue Reading • 13 Oct 2009
Majority owners lose their appeal
The appeal made by majority owners of Regent Garden who opposed the collective sale of $34 million with Allgreen Properties was dismissed yesterday by the Court of Appeal.On 15 May 2008, the appeal was filed by 23 out of the 25 majority owners of the project, who expressed their distress about...
Continue Reading • 13 Oct 2009
Singapore banks expected to have mild growth in Q3
Banks in Singapore will probably see some growth in their revenue in the coming results season in the third quarter. However, analysts said that it is expected that their net profits will remain flat because of the tight margins as well as the continued risk of the provisions of loan.Recently,...
Continue Reading • 13 Oct 2009
Proposals to improve the real estate industry
Some proposals are expected to be launched soon for the improvement of the real estate industry. Proposals include establishing a tribunal to deal with disputes and accrediting all real estate agents.Such proposals were made following a consultation between the Ministry of National Development...
Continue Reading • 13 Oct 2009
Tough recovery ahead after recession
The Singapore government says while the growth forecast of the country’s economy for the whole year hiked up aggressively after resurging for two quarters, the outlook for 2010 is a bit more subdued.According to the Monetary Authority of Singapore (MAS), though the global recession could...
Continue Reading • 13 Oct 2009
Economists predict an expansion for the Singapore economy
With the global recession getting better and with signs of regional recovery prompting policy makers to end the stimulus measures, it is believed that the Singapore economy has expanded for a second quarter.Based on the median estimate of 15 economists that Bloomberg News has surveyed, after the...
Continue Reading • 12 Oct 2009
How recession transforms Singapore’s economy
GDP decreased by 10 percent in the first quarter and unemployment continues to increase since the fourth quarter of 2008. The Spur, Resilience Package (with Jobs Credit and the Special Risk Sharing Initiative as its key measures), and the go signal by the president to tap on past reserves have...
Continue Reading • 12 Oct 2009
STC leases office space in short-term
The Straits Trading Company (STC) is leasing office space at 18 Cross Street, China Square Central at $8 to $10 per square foot. The six-month lease at the Grade A office tower is aimed at companies in need of transitional office.Spanning across the 7th to 10th floors of the 15-storey building,...
Continue Reading • 12 Oct 2009
Green building certifications up by 50%
More and more builders are joining the green movement, a trend that has prompted the government to expand its green certification scheme.This year, the Building and Construction Authority (BCA) issued 151 awards, up from 97 last year. The Green Mark certification scheme, which was introduced in...
Continue Reading • 12 Oct 2009
CDL gets the most BEL awards
A consistent Green Mark awardee, City Developments Ltd. (CDL) has solidified its reputation in the field of sustainable design by garnering the greatest number of awards conferred by the Building and Construction Authority (BCA) in 2009.Five residential properties of CDL received Green Mark...
Continue Reading • 12 Oct 2009
CapitaLand ran up BCA Awards
This year, CapitaLand won six Green Mark for Buildings Gold awards from the Building and Construction Authority, bringing the total number to 26 since 2006.The winning projects were The Wharf Residence, Six Battery Road, Sembawang Shopping Centre, The Integrated Civil, Cultural, Retail &...
Continue Reading • 12 Oct 2009