OUE's revenue drops 10.6%
OUE’s revenue of $100.2 million in Q2 2014 marks a 10.6 percent decline, compared to Q2 2013.This was attributed to Singapore’s lacklustre residential property market, and the lack of contribution from its hotels in China which were divested in September 2013. However, there were...
Continue Reading • 5 Aug 2014
CapitaMalls Asia's CFO moves to CapitaLand
CapitaLand Limited has appointed Ng Kok Siong (pictured) as its Chief Corporate Development Officer with effect from 1 September. Ng will focus on developing corporate systems and processes to drive efficiency, as well as provide leadership to leverage business technology for organisational...
Continue Reading • 5 Aug 2014
Housing policies for PRs unlikely to change
In the last ten years, around 2,300 to 3,500 HDB units were sold by Singapore Permanent Resident (SPR) households in the resale market each year.The Ministry of National Development (MND) revealed this following a written query at yesterday’s parliament session.Singapore’s public...
Continue Reading • 5 Aug 2014
Existing concessions are sufficient for upgraders: MND
The cooling measures are intended to keep the housing market stable and sustainable, encourage financial prudence among homebuyers and moderate property prices, Minister for National Development Khaw Boon Wan said in parliament yesterday.Statements were made in reply to a query on whether some of...
Continue Reading • 5 Aug 2014
LTA reveals location of Canberra MRT station
Works on the upcoming Canberra MRT station in Singapore will begin in mid-2015 and are expected to be completed in 2019.Located between Sembawang and Yishun stations along Canberra Link, the elevated Canberra station will serve commuters living in nearby estates such as Sembawang Springs, as well...
Continue Reading • 4 Aug 2014
Roxy-Pacific Holdings' properties boost revenue growth
Roxy-Pacific Holdings announced its net profit rose 16 percent to $22.8 million in Q2 2014, from $19.5 million in Q2 2013. This was achieved on the back of strong revenue growth of 49 percent to $102.6 million.In Q2 2014, the group’s revenue rose 49 percent to $102.6 million, as a result of...
Continue Reading • 1 Aug 2014
Lower property sales bring Tuan Sing's revenue down
Tuan Sing recorded a revenue of $142.9 million in H1 2014, down 22 percent over the corresponding period last year led by lower revenue from its property and industrial services.Gross profit decreased in tandem to $24.3 million with gross profit margin at 17 percent, and profit after tax stood at...
Continue Reading • 1 Aug 2014
Several Bedok facilities to be relocated
Bedok will soon have a brand new Bedok Integrated Complex (BIC) come 2017. It will be built on a 21,696 sq m site along Bedok North Street 1, where Bedok Adventure Park currently is. It will house Kampong Chai Chee Community Club (CC) and Bedok Sports Centre, along with various facilities such as...
Continue Reading • 31 Jul 2014
Lian Beng's revenue up 49.1%
Lian Beng Group’s revenue surged 49.1 percent year-on-year to $753.9 million, while itsnet profit was up 38.7 percent to $127 million.The record turnover was due to revenue increases in almost all its business segments, such as external sales of its construction segment and external sales...
Continue Reading • 30 Jul 2014
Thomson Line on track to open from 2019
The Land Transport Authority (LTA) has awarded the last three civil contracts for Thomson Line’s Orchard, Marina South and Gardens by the Bay stations and tunnels at around $1.32 billion on 25 July. The construction of Orchard station has been awarded to Penta-Ocean Construction –...
Continue Reading • 30 Jul 2014
Keppel Land announces first stateside investment
Keppel Land has made its maiden investment in the United States with a prime residential development in New York City.Located on the Upper East Side in Manhattan, the property will be developed by New York real estate developer Macklowe Properties, and will include a retail component."For...
Continue Reading • 30 Jul 2014
Premature to ease property measures: MAS
While the recent property cooling measures are working, it is still too early to relax those measures since property prices remain high, said the Monetary Authority of Singapore (MAS) and reported in the media.“Risk factors have not changed,” MAS Managing Director Ravi Menon said at...
Continue Reading • 25 Jul 2014
Keppel Land's revenue up 9.7%
Keppel Land’s revenue grew 9.7 percent year-on-year (y-o-y) to $589.5 million in H2 2014. Its pre-tax profit of $260.3 million was 23.2 percent higher compared to the first half of 2013.The Group achieved a net profit of $195 million for the first half of 2014, up 1.5 percent against $192.1...
Continue Reading • 24 Jul 2014
PropertyGuru gives back to the less fortunate in Thailand
PropertyGuru Group believes in giving back to society and improving the lives of others. Each year the company conducts activities to support the needy and since 2011, PropertyGuru employees have raised more than $70,000 for a number of causes, including Yellow Ribbon, the Thai floods, Japanese...
Continue Reading • 23 Jul 2014
New Community Club to have green features
Bukit Gombak’s 45,000 residents will soon have a new Community Club in 2016. The design for the upcoming Bukit Gombak Community Club was conceptualised based on the residents’ views and feedback. It will have open interactive spaces and green features such as a vertical green wall,...
Continue Reading • 23 Jul 2014
Keppel REIT's property income up by 14%
Keppel REIT Management announced its property income rose 14 percent year-on-year to $94.1 million for 1H 2014 due to improved performance from Ocean Financial Centre and Prudential Tower, as well as additional income from 8 Exhibition Street in Melbourne, which was acquired in August 2013.Its...
Continue Reading • 23 Jul 2014
Strong gains in UK for S$ buyers
Singapore dollar buyers of London property will have seen a 17.8 percent growth in their investment, taking into account the aggregate effect of prime property price changes and currency fluctuations in the 12 months ending Q1 2014.Over the five years since Q1 2009 the appreciation works out at a...
Continue Reading • 23 Jul 2014
URA spruces up park in Kampong Glam
The open space along Sultan Gate in the Arab Street area has been refurbished with benches and garden swings, as part of the ‘Picnic in the Park – Under the Gelam Trees’.The park is about 1,200 sq m, according to media reports and the project on State land started on 14 July and...
Continue Reading • 22 Jul 2014
MAS proposes better safeguards for investors
The Monetary Authority of Singapore (MAS) released a consultation paper on proposals today to enhance its regulatory framework for safeguarding investors’ interests.Firstly, it plans to extend the current regulatory safeguards available to investors in capital markets to investors in...
Continue Reading • 22 Jul 2014
Property curbs contribute to inflation expectations
Singapore households expect inflation to ease further over the next one year, on the back of the government’s property cooling measures as well as expectations that car prices will stabilise, showed a survey conducted by Singapore Management University (SMU) and reported in the...
Continue Reading • 22 Jul 2014