Property problems hit Hong Kong
Hong Kong has established low-rent housing estates intended for those less well-off, but now people in the middle class are struggling to purchase their own flats.Speculative bubbles resulted in huge profit-making opportunities in the past 25 years. However, many of those who purchased flats at...
Continue Reading • 16 Aug 2010
Policies evolve to suit changing conditions
Government policies are not set in stone and have changed to suit the changing conditions, said Minister Mentor Lee Kuan Yew, highlighting that the key to the success of Singapore is the ability to adapt and fundamental values like meritocracy.“Our policies are not set in stone. We always...
Continue Reading • 16 Aug 2010
Banyan Tree divests Thai assets
Banyan Tree Holdings, which is known for its resorts in Thailand, is seeking to diversify its portfolio by growing its presence in other emerging markets and divesting some of its properties in Thailand.“The frequent political events in Thailand have prompted us to accelerate our plans to...
Continue Reading • 16 Aug 2010
F&N Q3 earnings up 6%
Fraser and Neave (F&N) has posted an increase in profits in the third quarter on the back of a strong performance across its property segment and other business arms.The company’s net profit after fair-value adjustments and exceptionals reached $130.6 million, up 6 percent from the...
Continue Reading • 16 Aug 2010
SC Global's profit soars 5 times in Q2
SC Global Developments, a property developer of exclusive high-end luxury residences, has posted a five-fold increase in its Q2 net profit, to $40.4 million from $7.8 million over the same period last year.This was attributed to the higher revenue recognition from development projects such as...
Continue Reading • 16 Aug 2010
Chip Eng Seng's Q2 profit up 56%
Construction and property group Chip Eng Seng Corp recorded a net profit of $22.4 million in the second quarter, up 56 percent from $14.4 million over the same period last year. The increase in net profit was attributed to higher construction activity and property sales.The group’s revenue...
Continue Reading • 16 Aug 2010
Home loans in Shanghai drop 98%
New mortgage loans in Shanghai slumped 98 percent last month as the central government imposed measures to curb property speculation, deterring investors from purchasing homes.According to the Shanghai branch of the People’s Bank of China, home loans fell 11.4 billion yuan ($1.68 billion)...
Continue Reading • 13 Aug 2010
Amara posts H1 revenue of S$29.1m
Mainboard-listed Amara Holdings Limited has posted revenue of S$29.1 million for the first half of the year, with the group’s hotel investment and management segment generating higher revenue.The group saw a 55 percent decrease in revenue in the first half of 2010, to S$29.1 million from...
Continue Reading • 13 Aug 2010
United Engineers' net profit rose more than 200% in H1
United Engineers has posted a 33 percent increase in revenue in the first half of the year, largely attributed to property sales during the period. The group’s net profit increased more than 200 percent to $62.4 million.The company’s revenue from leasing and property development...
Continue Reading • 13 Aug 2010
Soilbuild net profit jumps 66% in Q2, revenue down 24%
Soilbuild Group said that its net profit in Q2 jumped 66 percent to $32.7 million despite a 24 percent drop in revenue to $73.6 million.Revenue was 26 percent less year-on-year at $69 million. This is mainly due to lower contributions from property development, with no contributions recorded from...
Continue Reading • 13 Aug 2010
Genting Singapore hits jackpot in Q2
Genting Singapore hit the jackpot in the second quarter, posting revenue of S$979 million, up from S$120 million in 2009, which was attributed to the contributions of Resorts World Sentosa (RWS).The company also saw a significant increase in net profit to S$397 million this year from a S$50.7...
Continue Reading • 13 Aug 2010
CDL unveils $300m expansion in China
Property developer City Developments Limited (CDL) has announced its expansion plans into the China real estate market, setting aside $300 million as starting capital for its newly-formed unit, CDL China Limited.Mr. Kwek Leng Beng, executive chairman of CDL, said that given the tightening of the...
Continue Reading • 13 Aug 2010
EC market to rebound soon
The executive condominium market is expected to see more activity with the launch of new EC projects over the next three to six months.Four new projects in Punggol Field, Buangkok, Compassvale Bow and Yishun that can yield about 1,400 units are set to launch in the next three to six months, while...
Continue Reading • 13 Aug 2010
Jurong EC site fails to attract bids
The public tender for an executive condominium (EC) site located at Jurong West has failed to attract any bidders, contrary to experts’ prediction that it would have at least two to three bidders.Bids for the 99-year leasehold EC site were tipped at around $230 psf ppr to $300 psf ppr,...
Continue Reading • 13 Aug 2010
New laws in Australia will make it easier compare home loans
Australians will find it easier to compare home loans with the creation of new federal consumer protection legislation, according to an expert.Lisa Montgomery, head of Resi Mortgage Corporation, a consumer advocacy in Australia, said that the creation of consumer credit protection legislation in...
Continue Reading • 12 Aug 2010
Asian buyers cautious of UK property
A weak economy and the recent revival of sterling has caused other foreign buyers, including Asians to become wary over residential property in the UK.Many estate agents and surveyors are worried that the revival of UK and London property prices has started to fade, and some are concerned that...
Continue Reading • 12 Aug 2010
Yanlord's Q2 earnings rise 9%
China-based high-end residential developer Yanlord Group has announced that its net profit in the second quarter increased 9 percent to $99.9 million, attributed to the increase in gross floor area (GFA) delivered.Q2 revenue rose 1 percent to $622.1 million, while gross profit margin climbed 1.3...
Continue Reading • 12 Aug 2010
Koh Brothers' net profit climbs 22% in H1
Mainboard-listed Koh Brothers Group Limited has posted a 22-percent increase in net profit in the first half of 2010, to S$5.4 million from S$4.4 million over the same period last year.The strong H1 result was attributed to the 27-percent growth in sales to S$176.7 million, which was derived from...
Continue Reading • 12 Aug 2010
CDL's net profit jumps 17.6% in Q2
Southeast Asia's second-largest property developer City Developments Limited (CDL) has announced that its net profit in Q2 increased 17.6 percent to S$164.6 million from S$140 million over the same period last year.CDL said that the increase in net profit was attributed to the higher...
Continue Reading • 12 Aug 2010
Major Asian property markets may see slower H2
Major Asian property markets may face a slower second half due to an anticipated growth in office and housing supply and policy risks, after some property developers enjoyed a positive first six months.Among the developers that enjoyed strong housing prices in major markets earlier this year...
Continue Reading • 12 Aug 2010