Koh Brothers enjoys profit, revenue surge
By Shabnam Muzammil:Koh Brothers Group has reported an increase in Q1 net profit attributable to equity holders of S$3.3 million due to higher contributions from its property business.Revenue also rose to S$80.8 million in the first three months of 2013 from S$58.78 million in the same period...
Continue Reading • 16 May 2013
UOL profit slides, cautious outlook
By Romesh Navaratnarajah:Singapore-listed developer UOL remains cautious about the local housing market and will likely “replenish land” instead of aggressively growing its land bank, noted OCBC. This as the company reported a 15 percent decline in profit after tax and minority...
Continue Reading • 15 May 2013
Khaw orders review of town councils
By Shabnam Muzammil:The government will conduct a comprehensive review of the legislation governing all town councils in Singapore, said National Development Minister Khaw Boon Wan in his ministerial statement in Parliament yesterday. To be led by Lee Yi Shyan, Senior Minister of State for...
Continue Reading • 14 May 2013
PropertyGuru is most popular local site in Singapore
By Nikki De Guzman:PropertyGuru, Asia’s leading property portal has clinched top spot among Singapore’s most visited local websites, with www.propertyguru.com.sg beating out all other property and non-tech sites including DBS.com, ChannelNewsAsia.com, iras.gov.sg and AsiaOne.com,...
Continue Reading • 14 May 2013
Pre-war flats must keep old facade, warns URA
By Shabnam Muzammil:Tiong Bahru residents living in 20 pre-war conservation flats have been reminded to stick to the guidelines for renovating home exteriors.The Urban Redevelopment Authority (URA) posted notices around the estate last week informing homeowners to seek permission before making...
Continue Reading • 13 May 2013
Rail improvements may cost $900m
By Romesh Navaratnarajah:The ambitious plan to upgrade the ageing North-South and East-West MRT lines will be expanded and hastened by SMRT Corp and the Land Transport Authority (LTA), reported The Straits Times.But this requires a bigger budget, with SMRT’s latest estimate at approximately...
Continue Reading • 13 May 2013
Homeowners do matter in policy changes
By Romesh Navaratnarajah:Singaporeans who are already homeowners must also be considered when changes to housing policies are made, said Dr Mohamad Maliki Osman (pictured), Senior Parliamentary Secretary for National Development.Speaking at a recent dialogue session on housing, Dr Maliki said:...
Continue Reading • 10 May 2013
Handbook on improving building standards launched
By Shabnam Muzammil:In a bid to improve industry standards, a new handbook with examples of best practices from various industrial sectors within the Specialist Trade Alliance of Singapore was launched yesterday at the inaugural International Facility Management Expo 2013, reported The Straits...
Continue Reading • 9 May 2013
Ex-MP joins Knight Frank in Singapore
By Shabnam Muzammil:Former Aljunied MP Cynthia Phua (pictured) has been appointed Executive Director of Retail Services at Knight Frank Singapore.She will help build up the firm’s retail services team and also be involved in consultancy, leasing and business development.Commenting on her...
Continue Reading • 9 May 2013
S'pore buildings awarded for creative design
By Shabnam Muzammil:26 properties in Singapore were awarded the first Universal Design Mark Award by the Building and Construction Authority (BCA) for integrating features that improve accessibility for people of all ages and abilities.“Through the awards, we want to encourage architects...
Continue Reading • 9 May 2013
Changi Airport set to get a 5th terminal
By Nikki De Guzman:Transport Minister Lui Tuck Yew revealed yesterday that the government is looking to develop a fifth airport terminal in the country, in order to handle rising demand in the aviation sector.Speaking at the Changi Airline Awards, he said that 2012 was a record-breaking...
Continue Reading • 8 May 2013
CapitaLand's ex-CEO goes into teaching
By Shabnam Muzammil:Liew Mun Leong, the former head of CapitaLand Group, has been appointed Provost’s Chair Professor (Practice) in both the Business School and Faculty of Engineering at the National University of Singapore (NUS).He will teach undergraduate and postgraduate classes on...
Continue Reading • 8 May 2013
Resale HDB flat prices to drop?
By Nikki De Guzman:Prices of resale flats could change in the coming months as 50,000 newly-built flats are handed over to their owners, said National Development Minister Khaw Boon Wan.At a recent dialogue session, he noted that the government has indirect influence on home prices even if buyers...
Continue Reading • 7 May 2013
Plans underway for new MRT line
By Shabnam Muzammil:Planning for the 50km Cross Island Line (CRL) will commence at the end of this year, well ahead of construction work, as contractors will have to dig deeper underground for this project, The Straits Times reported.To be completed in 2030, the MRT line will run from Tampines to...
Continue Reading • 7 May 2013
Singapore the new tourism hotspot
By Nikki De Guzman:Singapore is now widely considered the leisure and tourism capital of the 21st century, offering a wide mix of cultures, modern developments and strong economy, according to the San Francisco Examiner. With a land area of about 270 square miles and population of around five...
Continue Reading • 6 May 2013
PropNex consumer empowerment seminar gets positive feedback
By Romesh Navaratnarajah:As part of plans to support its salespersons and clients, property agency PropNex recently held its inaugural Consumer Empowerment Seminar at Kallang Theatre.The event was attended by more than 1,300 consumers who not only had their property queries answered, but were...
Continue Reading • 6 May 2013
Roxy-Pacific Q1 net profit up 31%
By Nikki De Guzman:Property and hospitality group Roxy-Pacific Holdings posted a 31 percent rise in net profit to S$11.8 million in the first quarter of 2013 from S$9.0 million over the same period last year.Gross profit also increased to S$18.3 million, up 10 percent from last year’s...
Continue Reading • 6 May 2013
S'pore needs more crane operators: Khaw
By Shabnam Muzammil:National Development Minister Khaw Boon Wan yesterday said in a blog post that Singapore needs to increase its construction productivity urgently and one way is through the use of prefabrication and standardization.But he added that such a strategy requires many more crane...
Continue Reading • 3 May 2013
KSH wins awards for construction excellence
By Nikki De Guzman:Listed construction group KSH Holdings has won two awards at the Construction Excellence Awards 2013 by the Building and Construction Authority (BCA).The firm's winning projects are the construction of Fullerton Bay Hotel (pictured) and NUS University Town's Educational...
Continue Reading • 3 May 2013
Singapore property to remain resilient: report
By Shabnam Muzammil:Singapore's domestic-driven sectors such as construction, real estate and related financing are expected to remain resilient, according to a central bank report.“The level of output in the economy will further converge to its underlying potential, while the labour market...
Continue Reading • 2 May 2013