United Engineers reported a 593 per cent improvement in net profit surge to S$8.5 million in the first quarter of this year. Revenue for the company also grew 11 per cent to S$148.9 million. The company said this is mainly due to progressive recognition of revenue from the sales of its residential projects, The Rochester in one-north and Park Central @ AMK in Ang Mo Kio. United Engineers said it has an...
2009
Construction firm Lum Chang has posted a third-quarter net profit of S$3.7 million, an increase of two per cent on-year. In the same period, its revenue grew by three per cent to S$51.6 million. The firm said this was due to revenue recognition from four construction projects, which amounted to S$42.3 million. The group's net profit for the first nine months dropped by 23 per cent to S$4.7...
Singapore ranks among the top three places in the world in terms of being an attractive financial centre for "mobile wealthy" individuals, including doctors, lawyers and entrepreneurs. Media reports quoting a survey by international wealth management consultancy Scorpio Partnership said Singapore was beaten to the top spot by Switzerland, with London coming in second. The reports said Switzerland came...
Situated up on the higher grounds of Mount Sinai, The Trizon is a luxurious condominium comprising only 247 units of 2- to 5-bedroom apartments. With only three 24-storey towers on one of the largest parcels of freehold land in District 10, residents can anticipate plentiful space, incredible breezes and greenery. You will be spoilt for choice as the units are exceptionally spacious, efficient and no...
UOL Group on Tuesday said its net profit surged 674 per cent to S$332 million in the first quarter this year. It said this was due to gains of S$278 million that came about from negative goodwill after it acquired UIC shares. UOL also attributed the performance to the lowering of the Singapore corporate tax rate to 17 per cent from 18 per cent. Revenue also went up by 22 per cent to S$196.7 million. The...
Pan Pacific Hotels Group on Tuesday said its net profit fell 24 per cent to S$11 million in the first quarter of this year compared to the same period last year. The group's revenue also declined by 13 per cent to S$66.5 million in the three months ended March. The group said the decrease is largely due to weaker performance from its hotels. The group is pessimistic about the year ahead. It said the...
The Pinnacle@Duxton residential project holds two world records for the longest sky-garden and the heaviest skybridge. The popular residential project, which includes a roof-top garden, will have a total of 12 skybridges. Each bridge weighs 354 tonnes which is equivalent to the weight of a Boeing 747. Contractors used heavy duty hydraulics to push the bridges in place. The bridges will be lifted to the...
City Developments has posted a 49.6 per cent decline in first quarter net earnings to S$83.1 million. The Singapore-listed developer said the decline in earnings was mainly due to lower contributions from both its property development and hotel operations. Revenue for the three months ended March fell 18 per cent to S$622.5 million. Looking ahead, CDL said it believes that the global economic scenario...
TIMING can decide whether the deferred payment scheme (DPS) helps or hurts private home developers, as shown by updates provided this week on two projects. On Friday, Keppel Land revealed that it had yet to receive full payment for about a-third of Suites @ Central, a 157-unit freehold condominium on Devonshire Road that obtained its Temporary Occupation Permit (TOP) earlier this year. In particular,...
Property developer Roxy-Pacific has posted a 53 per cent on-year rise in its first quarter net profit, to S$6.4 million. Revenue increased by nearly two-thirds to S$38 million. The jump was mainly due to the progressive recognition of revenue from five development projects in the quarter. The firm also saw an increase in rental yield from the renewal lease for some of the shop units at its Roxy Square...