KSH reports 51.4% loss on revenue
KSH Holdings Ltd, an established construction and property company, has posted total revenue of S$30.5 million in the third quarter of the financial year 2012, down 51.4 percent over the same period last year.The decline in revenue was mainly attributed to lower numbers from its construction...
Continue Reading • 14 Feb 2012
Sim Lian posts lower results
Property developer Sim Lian Group has posted a profit before income tax of S$43.5 million in the second quarter of the fiscal year 2012, down 29 percent from the S$60.9 million recorded over the same period last year.This was attributed to a decline in revenue of S$33.1 million, underpinned by a...
Continue Reading • 14 Feb 2012
Surbana secures deal for Penang housing project
Surbana International Consultants (SIC), a subsidiary of CapitaLand and Temasek Holdings, has inked a contract with the Penang Development Corporation (PDC), to provide building consultancy services to a public housing development in Penang, Malaysia for an undisclosed amount.The 11,800-unit...
Continue Reading • 13 Feb 2012
UK experts warn against impulse buying during stamp duty holiday
Mortgage experts in the UK have cautioned first-time home buyers not to rush into acquiring a home just to beat the stamp duty holiday deadline. The stamp duty exemption allows home buyers to avoid a one percent stamp duty if they buy a new property valued under £250,000 (S$495,382) before...
Continue Reading • 13 Feb 2012
More Aussie borrowers could change lenders
Thousands of homeowners in Australia could switch to a different mortgage provider, as they compare and consider the different rates offered by major banks, which are expected to increase.Speculation over mortgage rate increases may result in over 30 percent of mortgage holders replacing their...
Continue Reading • 10 Feb 2012
S'pore construction industry can learn from HK and China
Minister for National Development Khaw Boon Wan has encouraged local developers to adopt productive systems and machinery as well as elevate the skill competence of construction workers to increase productivity growth.In his latest blog post yesterday, Mr Khaw wrote that the local industry can...
Continue Reading • 10 Feb 2012
S'pore luxury condo dragged into M'sian scandal
A report has surfaced that a Malaysian female official, accused of squandering government loans totalling RM250 million (S$100 million), acquired two high-end condo units for more than S$7 million each at Marina Bay Suites (pictured) in Singapore. In addition, Datuk Seri Shahrizat Abdul Jalil, a...
Continue Reading • 9 Feb 2012
Bad US mortgages top US$72 billion
Costs from shoddy foreclosures and faulty mortgages have reached US$72 billion (S$89.80 billion) at the largest US banks, as the conclusion nears on a 50-state probe on mortgage practices.According to Bloomberg, the five largest home lenders during the real estate boom, which include Bank of...
Continue Reading • 9 Feb 2012
Knight Frank appoints new research manager for Asia-Pac
Nicholas Holt (pictured) has been appointed the new Research Manager for Knight Frank Asia Pacific. He will oversee operations in the region to further strengthen and grow the research and consultancy business. Holt has extensive experience suited to the new regional role. He...
Continue Reading • 9 Feb 2012
CapitaLand launches social responsibility campaign
Property firm CapitaLand launched its 'Because iCare' campaign during its annual Lunar New Year reception.“The launch of Because iCare reinforces our ‘Building People’ credo and strengthens our commitment towards the people we build and the people we build for. Through this...
Continue Reading • 8 Feb 2012
UK home loan affordability hits new low
Home loan payments for new borrowers in the UK reached their lowest level in the second half of last year, according to recent research published by Halifax.The lender said that the typical loan for new borrowers, both first-timers and home movers, stood at 27 percent of disposable earnings in Q4...
Continue Reading • 8 Feb 2012
S'pore consumer confidence remains low
Consumer confidence in Singapore remains at a two-year low, with the country ranking the fifth most pessimistic of the 14 Asia Pacific nations, according to Nielsen's Q4 global online consumer confidence index.Based on the findings, Singapore started the previous year with 109 points in the...
Continue Reading • 8 Feb 2012
Australand optimistic despite lower earnings
AustraLand, CapitaLand’s business arm in Australia, suffered a 15 percent loss in net profit for the fiscal year 2011, but remains optimistic that earnings this year will likely improve despite volatile market conditions.“Despite the near-term challenges, the group remains cautiously...
Continue Reading • 8 Feb 2012
Donald Han joins HSR as special adviser
Donald Han, Vice Chairman for Cushman & Wakefield’s Singapore operations, has joined HSR Property Group as special adviser, with the aim of helping to expand the company’s property services and portfolio by venturing overseas.“We could expand into other professional property...
Continue Reading • 7 Feb 2012
Aussie banks making massive mortgage losses
Banks in Australia could become cautious with their lending activities after recording huge losses on mortgages over the past four months, according to a recent report.“We estimate the banks are currently losing money on new mortgages written in the current funding environment,” said...
Continue Reading • 7 Feb 2012
China to limit home loans for foreign buyers
China will limit mortgages for home purchases by foreigners to curb overseas investment, as part of its continued efforts to lower property prices.According to the National Development and Reform Commission, China’s planning agency will not approve medium- and long-term foreign debt quotas...
Continue Reading • 6 Feb 2012
S'pore ranks 3rd for ideal home among expats
Singapore has been ranked the third most ideal place to live in due to its quality of life and career opportunities, according to HSBC’s Expat Explorer survey.More than 3,000 expatriates from over 100 countries rated locations on a range of criteria, from food to accommodation, healthcare,...
Continue Reading • 3 Feb 2012
US mortgage applications fall 2.9%
Mortgage applications in the US declined last week despite the easing of interest rates, according to the latest Mortgage Bankers Association (MBA) survey, which covers more than 75 percent of the country’s retail residential mortgage applications.MBA’s index of mortgage application...
Continue Reading • 3 Feb 2012
Tuan Sing disappoints with lower profits
Mainboard-listed Tuan Sing Holdings has announced that full year revenue and net profit for 2011 hit S$239.7 million and S$40.3 million respectively, compared to the restated revenue and net profit of S$344.5 million and S$87.8 million a year earlier.Its property division recorded total revenue...
Continue Reading • 3 Feb 2012
HK mortgage rates set to rise
Average mortgage rates in Hong Kong are expected to rise by as much as four percent this year, from the current 2.38 percent, said Sharmaine Lau, Chief Economist at mReferral Mortgage Brokerage Services. “Hong Kong banks are very reluctant about raising mortgage rates further because of...
Continue Reading • 2 Feb 2012