Mainboard-listed construction firm Lian Beng has posted a net profit of S$11.4 million for the nine months to February, a 31 per cent rise on-year. Revenue for the period increased by 55 per cent to S$230 million, driven by a rise in construction activity. The firm currently has an order book of S$586 million. But in view of uncertainties in the economic climate, Lian Beng says the next 12 months are...
2009
AFTER five years of rapid growth, Teambuild Construction is in consolidation mode - it's going back to the basics to ride out the downturn. But it's also laying the foundations for the next growth wave when the industry rebounds, by its reckoning, in one or two years. Managing director Seow Seng Wei expects a host of challenges in the coming year, including a drop in order book size and greater...
The Singapore government will not step in to underwrite existing bank loans to property developers for now. This is because loans and other financing options are still available despite the current credit crunch, said National Development Minister Mah Bow Tan in Parliament on Monday. The economy is facing a difficult recession, but Singapore property developers may have been spared the brunt of the...
Housing and Development Board (HDB) has launched the sale of 438 flats in various towns and estates. The flat supply comprises 3-room and bigger flats. Most of the units offered are four-room flats. They are located in 23 towns and estates from Yishun to Sengkang. Interested flat buyers may submit their applications online from Monday until April 20. HDB will then conduct a computer ballot to...
Keppel Corp plans to build an international school in Tianjin, China. It is teaming up with education groups EtonHouse International and Chiway Holding to develop the first international school in the Sino-Singapore Tianjin Eco-City. The three partners will also jointly develop residential apartments on an adjoining site 10-hectare site. Together they plan to invest as much as 1 billion yuan (S$220...
Singapore is expected to see among the largest growth in hotel room numbers compared to other markets in the region. Over 23,000 new four and five star hotel rooms are expected to come on stream in key Asian cities such as Bangkok, Hanoi, Ho Chi Minh City, Kuala Lumpur and Singapore by 2012. Some 10,000 will be in Singapore. That's nearly 39 per cent growth over Singapore's current numbers. Despite the...
The 427-unit One-North Residences, jointly developed by UOL Group, privately held sister company Kheng Leong and construction group, Low Kheng Huat, will be getting its temporary occupation permit (TOP) in the coming months. Typical of most projects that are close to completion, transactions here have spiked up.The 99-year leasehold project was launched in March 2007, when the market was still red hot. As...
Located in the prime District 10 area and just 3 minutes’ drive to the Central Business District, Ferrell Residences is a residential property project developed by Singapore’s leading Specialist Fund Managers, Ferrell Asset Management. Set against the sophisticated and minimalist interior, exquisite works of art and sculptures by renowned Asian artists express a new expression of balance that fuses...
The construction business may have been hit by the recession, but some contractors are finding time to help those in need by making their home improvement dreams come true. This is part of the Renovation and Decoration Advisory Centre's outreach efforts to help those in need during these hard economic times. One family, the Lees, received renovation help for their three-room flat at Kim Keat...
Special Rates Rental rates from $9,900 onwards for limited period only. Contact us at [email protected] for more details and viewings now! Prestigiously located in the heart of the city, Leonie Condotel is highly accessible where Orchard and Somerset MRT Stations are a walking distrance away. Shopping for any purpose and occasion is made easy with Singapore's famous shopping belt - Orchard...