Hotel Properties posts 8.8% decline in Q1 net profit
Mainboard-listed Hotel Properties has posted an 8.8-percent drop in net profit to S$9.8 million during the first quarter ended March 31.Revenue rose 0.5 percent to S$120.1 million compared to the same period in 2009.According to the group, hotels in Maldives and Bali had lower room rates due to...
Continue Reading • 14 May 2010
Yanlord's net profit drops 23% in Q1
Mainboard-listed Chinese property developer Yanlord has announced that the net profit for Q1 this year dropped 23 percent on-year to S$18.7 million.The decline in profit was recorded after a seven-percent decline in revenue on-year to S$173.1 million.The company said the decrease in Q1 results...
Continue Reading • 14 May 2010
Ho Bee to sell first bonds to fund China property
Property developer Ho Bee Investment Ltd. is planning to fund its expansion into the property market in China by selling bonds for the first time. Ho Bee, along with Yanlord Land Group Ltd., acquired a residential development site in Shanghai for 3.82 billion yuan or US$560 million in February,...
Continue Reading • 14 May 2010
Genting posts huge Q1 loss despite RWS opening
Despite the huge contributions from Resorts World Sentosa (RWS), Genting Singapore has recorded a net loss of $396.3 million in Q1 due to a $478.1-million impairment loss from the intangible assets on its UK casino operations.The company’s net loss of $396.3 million for the first quarter...
Continue Reading • 14 May 2010
Wing Tai posts net profit of S$23.2m in Q3
Property developer Wing Tai Holdings has reported a net profit of S$23.2 million for the third quarter ended March 31, up eight percent from the same period in 2009.Revenue for the quarter rose a hefty 89.6 percent to S$149.54 million, boosted by higher contribution from the development...
Continue Reading • 14 May 2010
Luxury homes losing appeal
The much-awaited full comeback of the luxury end of the real estate market this year might be suspended.The promising recovery of the luxury home sector is looking a little shaky and unclear, as investors struggle with fears over the Greek debt crisis and general uncertainty remains a plague in...
Continue Reading • 14 May 2010
Bright outlook for Asian retail properties for 2010
The retail sector is likely to lead the growth in the Asian property market this year. This is mainly attributed to the growing consumer dollar in India and China, said property advisor DTZ.According to DTZ, investments in the region are expected to come from Asian players, who have vast funds to...
Continue Reading • 14 May 2010
Industrial rents likely to rise 10%: Colliers
The capital values, rents and land values of conventional industrial space in Singapore could increase 10 percent in the next 12 months, as institutional investors return and the economy improves, said Colliers International.The property consultancy firm found that the market for warehouses and...
Continue Reading • 14 May 2010
Interest rates on mortgage plunging
Interest rates in the home loan market are dropping and could end up close to zero, which is good news for mortgage holders, but pain for anyone looking for some returns on their bank deposits.The trend of interest rates in Singapore is in stark contrast to Australia and other Asian countries,...
Continue Reading • 13 May 2010
Saizen REIT starts cash accumulation to resume distribution payouts
According to mainboard-listed Saizen REIT, it has started accumulating cash in preparation for the resumption of its distribution payouts, expecting payment of its 2010 financial year distribution to unitholders to take place sometime in September 2010.For the third quarter ended in March 31, it...
Continue Reading • 13 May 2010
Shanghai to implement property tax
Shanghai may implement its own residential property tax measures to cool down price increases in China’s richest city, according to reports. The measures are expected to be introduced this month, but the Shanghai Municipal Housing Support and Building Administration Bureau declined to...
Continue Reading • 13 May 2010
Soilbuild posts 47% drop in Q1 net profit
Property developer Soilbuild has recorded a net profit drop of 47 percent on-year in Q1 2010 to S$10.3 million, and a 50-percent decline of revenue to S$32.5 million. The company said the weak Q1 result was attributed to a reduction in fair value gains from both derivative financial instruments...
Continue Reading • 13 May 2010
UOL posts 71% on-year drop in Q1 net profit
Property firm UOL Group has posted a 71-percent drop in net profit to just over S$100 million during the first quarter of the year.This was largely attributed to negative goodwill on acquisition of interests in an associated firm during Q1 2009.However, with its property development, investment...
Continue Reading • 13 May 2010
SC Global's Q1 net profit up 28%
SC Global Developments has posted a net profit of $13.4 million, an increase of 28 percent from last year’s $10.5 million.Earnings surged as the property group recognized higher revenue from development projects in Singapore – including The Marq on Paterson Hill, Hilltops and Martin...
Continue Reading • 13 May 2010
Koh Brothers's net profit up 166% in Q1
Mainboard-listed Koh Brothers Group has posted a 166-percent increase in net profit to $3 million for Q1 this year. The Q1 result was achieved on the back of a 39-percent increase in sales to $84.8 million, which was mainly attributed to the company’s Construction & Building Materials...
Continue Reading • 13 May 2010
CDL's Q1 earnings soar 68% on year
Property developer City Developments has reported a net profit of S$139.3 million for the first quarter this year, up 68 percent from a year ago.This improved performance came on the back of stronger revenue, which surged 20.6 percent to S$750.4 million.Accordingly, basic earnings per share...
Continue Reading • 13 May 2010
Small property developers priced out of Singapore
Many small-sized property developers are seeing themselves priced out by foreign companies and big players, as tender bids for government and private land reach record highs in the country. This has made it more difficult for smaller developers to acquire land for development.In the latest tender...
Continue Reading • 13 May 2010
Fannie Mae asks for more government support
Fannie Mae, the largest home loan funds provider in the US, has asked the government for an additional US$8.4 billion or S$11.6 billion of funds after the company lost US$13.1 billion in Q1.The mortgage fund provider will receive over US$84.6 billion from the government, including its latest...
Continue Reading • 12 May 2010
China's property market to consolidate this year, says CBRE
The residential market in China is expected to consolidate in 2010 because of the country’s measures to rein in its property bubble, said property consultancy firm CBRE.According to the latest government data, prices of residential properties across China increased year-on-year by about 13...
Continue Reading • 12 May 2010
Property prices in China surge
China property prices recorded the biggest year-on-year increase in nearly five years last month, amid constant fears about a growing bubble in the real estate market, according to the official data released recently.According to the National Bureau of Statistics, property prices in major cities...
Continue Reading • 12 May 2010