The APEC CEO Summit in Singapore next week will see a record number of 1,500 participants, underscoring the strategic importance of this year's meeting. Taking centre stage will be world leaders such as US President Barack Obama and Chinese President Hu Jintao. Organisers of the APEC CEO Summit have launched an online discussion forum, www.asiapacvoices.com, featuring opinion-editorial pieces by prominent...
2009
Mainboard-listed Saizen Real Estate Investment Trust said it has defaulted on a commercial mortgage-backed securities loan worth 7.3 billion yen or about S$113 million. It said despite efforts since early last year, it was unable to find a commercially viable solution before the maturity of the YK Shintoku loan. The loan is non-recourse and Saizen said the default is not expected to affect its other...
Prime Minister Lee Hsien Loong said on Tuesday he does not expect another dip in Singapore's economy. Mr Lee was giving his assessment on the global economic outlook ahead of the Asia Pacific Economic Cooperation (APEC) meetings, which will take place in Singapore. The prime minister noted that most countries are out of the "trough of spasm" that was experienced at the start of the year, and said...
marcus evans holds Asian Real Estate and Investments Summit at Four Seasons Hotel Macao, Macao, China marcus evans has achieved a major milestone as the recognized leader of business intelligence and held the Asian Real Estate and Investments Summit, with an intellectual melting pot for more than 90 C- Level practitioners. marcus evans Summits (www.marcusevans.com), produces high level business...
Even as demand for private homes tapers off, there continues to be a strong take-up for condominium units in the Flora Road area off Loyang Avenue, with 11 transactions of between $550 and $715 psf between Oct 2 and 9, according to caveats lodged by URA Realis. Though it may be about a 20-minute drive from the CBD, this area is being transformed by the growing number of companies moving to Changi and...
Developer CapitaLand lodged a prospectus with the Monetary Authority of Singapore on Monday to list its retail property unit, CapitaMalls Asia. Pricing details will be released after a road-show to market the initial public offering (IPO). Reports have estimated that the listing could raise as much as S$2.8 billion. According to the reports, CapitaLand may sell about 1.2 billion shares at an indicative...
Mainboard-listed Allgreen Properties said its third quarter net earnings more than doubled from a year ago to S$74 million. The developer's revenue for the three months ended September surged 159 per cent to some S$293 million. Allgreen said the strong earnings were mainly due to higher contribution from its property development segment. The two main projects that contributed to higher sales in the...
The Housing and Development Board (HDB) has reported a S$2b deficit before government grants in its latest annual report. The figure is more than double the loss reported in the previous financial year. HDB said the huge deficit for the financial year ending March was due mainly to more flats being sold. These flats are highly subsidised by the government. Higher construction costs also led to the large...
Healthcare real estate investment trust First Reit says it is enhancing its existing Adam Road Hospital. It says it will collaborate with Health Promise, the tenant of Adam Road Hospital, and Pacific Healthcare for the enhancement. First Reit will revamp Adam Road Hospital and turn it into a modern 3-storey purpose built cancer hospital with a basement. The new building will have a gross floor area of...
Construction and property development firm, KSH Holdings, has clinched a new contract worth S$36 million. It is for the construction of Watten Residences, a luxury 59-unit freehold development in the Bukit Timah area. Under the terms, the company will start construction works next week and it is expected to complete the project within 25 months. With the contract, KSH says its existing order book now...