KSH posts strong profit, revenue growth
Property and construction group KSH Holdings saw its first quarter net profit after tax soar 157 percent to S$11.5 million for the three months to 30 June. Revenue was up 50.9 percent to S$83.3 million in the same period.Its construction business posted a 49.6 percent growth in revenue to S$71.7...
Continue Reading • 13 Aug 2013
UOL Q2 net profit jumps 151%
Property firm UOL reported a 151 percent surge in net profit to S$431.4 million in Q2 2013, as fair value gains on its investment properties soared 386 percent to S$400.3 million.Group revenue increased two percent to S$304.3 million on higher contributions from hotel operations, property...
Continue Reading • 12 Aug 2013
CDL to push out 580 new homes
Property group City Developments Limited (CDL) is expected to launch approximately 580 new housing units as well as 28 lots for retail units in the third quarter comprising the Lush Acres EC (pictured) and Tai Thong Crescent development, noted DBS. As for its hospitality division,...
Continue Reading • 12 Aug 2013
S'pore boosts economic growth forecast
Singapore’s economic growth forecast for 2013 has been revised to between 2.5 and 3.5 percent, from one to three percent previously. In his National Day message, Prime Minister Lee Hsien Loong said: “We have made steady progress this past year...Our economy is holding steady amidst...
Continue Reading • 12 Aug 2013
More ERA acquisitions likely in region: Northstar
Private equity firm Northstar has revealed plans to acquire the regional franchise rights to real estate giant ERA Realty Network following its buyout of the Singapore franchise rights from Hersing Corporation.PropertyGuru reported on Monday that ERA Singapore franchise rights had been sold to...
Continue Reading • 12 Aug 2013
Wheelock Properties reports $14.2m Q2 profit
Wheelock Properties (Singapore) saw net profit fall 70.7 percent to S$14.2 million in Q2 2013, while revenue also plunged 71.3 percent to S$33.5 million.Based on the progress of construction, revenue realised from sales at luxury condominium project Ardmore Three (pictured) was significantly...
Continue Reading • 7 Aug 2013
Koh Brothers revenue up 74% in first half
Property group Koh Brothers reported a record net profit of S$8.1 million in 1H2013, its highest since 2008. Gross profit was also up by 30 percent to S$26.7 million in the period, while revenue grew 74 percent to S$190.6 million on higher contributions from its real estate business. “We...
Continue Reading • 7 Aug 2013
Knight Frank strengthens residential services team
Property consultancy Knight Frank Singapore has announced two new appointments to further strengthen its residential services team. Ruby Ong will be new Director and Head of Prime Sales, handling all residential needs of high-net-worth clients, while Norris Low is the new Associate Director and...
Continue Reading • 7 Aug 2013
Singapore property faces strong headwinds: CDL
Property firm City Developments Limited (CDL) expects both sales and prices of Singapore homes to slow down in the remaining half of the year.“With the latest round of property cooling measures which has been the most effective to date, the group expects stronger headwinds in the second...
Continue Reading • 7 Aug 2013
Bukit Brown graves to make way for new road in Q4
The exhumation of graves at Bukit Brown Cemetery will take place towards the end of this year to make way for construction of a dual four-lane road that will link Adam Flyover and MacRitchie Viaduct.The Land Transport Authority (LTA) has already received 1,263 claims for affected graves since...
Continue Reading • 6 Aug 2013
New book on S'pore-M'sia land dispute launched
A 128-page book on a previous land dispute that Singapore had with Malaysia was launched by Minister for Law and Foreign Affairs K Shanmugam yesterday. Titled 'Malaysia & Singapore: The Land Reclamation Case - From Dispute To Settlement', the book focuses on details of past reclamation...
Continue Reading • 6 Aug 2013
ERA Realty sold to Indonesian firm for over $100m
ERA Realty Network, the largest real estate agency in Singapore, has been sold to Indonesian private equity firm Northstar Group for over S$100 million, months after owner Harry Chua put it up for sale.According to media reports, the master franchise rights to the ERA name in Asia Pacific was...
Continue Reading • 5 Aug 2013
New integrated devt planned for Woodlands
The government will build a new integrated development offering a range of facilities catering to the diverse needs of residents in Woodlands, announced National Development Minister Khaw Boon Wan. The project, a first-of its-kind in Singapore, will comprise two studio apartment blocks with a...
Continue Reading • 5 Aug 2013
Roxy-Pacific boosts Q2 net profit to $19.5m
Roxy-Pacific Holdings has posted a 10.2 percent increase in its net profit for the second quarter of 2013 to S$19.5 million, along with a 31 percent revenue growth to S$68.9 million.The strong showing was attributed to property development, which saw an 83 percent boost in revenue to S$57.0...
Continue Reading • 2 Aug 2013
65% of construction industry uses state-of-the-art technology
Singapore’s construction sector has been seeing positive growth since adopting building information technology aimed at enhancing productivity, data shows.In fact, about 65 percent of 1,000 companies polled by the Building and Construction Authority (BCA) are already using Building...
Continue Reading • 2 Aug 2013
Soilbuild's net profit up 42% in Q2
Soilbuild Construction Group has reported a net profit hike of 42 percent to S$5.9 million in Q2 2013, from S$4.2 million a year ago.Revenue surged 70 percent to S$67.9 million from S$39.9 million during the same period in 2012. The significant increase was attributed mainly to higher...
Continue Reading • 2 Aug 2013
CapitaLand to move all operations to Capital Tower
Property giant CapitaLand will centralise all its business units at Capital Tower (pictured) by 2015.Located above Tanjong Pagar MRT station, the building has a net lettable area of approximately 741,000 sq ft. Previously, the group had plans to move its operations to Westgate Tower in Jurong by...
Continue Reading • 2 Aug 2013
UOB mortgage growth might fall
Among Singapore's three major banks, UOB should be least affected by the rise in bond yields, as it has the lowest ratio of assets held in bonds at 12 percent, according to Nomura. UOB has also been actively lowering the duration on its portfolio, as evidenced by the sharp fall in the average...
Continue Reading • 1 Aug 2013
Tharman: Building industry must deal with 'pain & gain'
In order for the construction industry to upgrade itself, it needs to learn to go through the ‘pain’ of increased foreign worker levies and tight labour market combined with the ‘gain’ of strong government subsidies.Deputy Prime Minister and Finance Minister Tharman...
Continue Reading • 1 Aug 2013
CapitaLand saves over $35m in utility bills
Singapore-based developer CapitaLand today said it has saved over S$35 million in utility costs through its sustainability programme since 2009. This figure was shared during a briefing of its Global Sustainability Report 2012, which highlighted the group's environmental achievements. This is its...
Continue Reading • 31 Jul 2013