CapitaLand said it has dissolved an indirect subsidiary - CapitaLand Sadeco. The company, incorporated in Vietnam had been placed under members' voluntary liquidation. CapitaLand said the dissolution of the subsidiary is not expected to have any material impact on the net tangible assets or earnings per share of the group. Source : Channel NewsAsia – 21 Apr...
Developer News
ROBUST residential sales in markets across Asia, in the wake of the economic recovery, sent first quarter net profits rocketing by 75.3 per cent at Keppel Land. The developer reported earnings of $64.7 million for the three months to March 31, while revenue rose a more modest 9 per cent to $158.8 million, compared with $145.7 million in the same period last year. Keppel Land's property trading segment...
Boost from strong residential sales, property investment and fund mgt units KEPPEL Land yesterday reported a 75 per cent climb in Q1 2010 net profit to $64.7 million - from $36.9 million a year ago - on the back of robust residential sales and better contributions from its property investment and fund management units. Revenue for the three months ended March 31, 2010, was $158.8 million, up 9 per cent...
Mainboard-listed developer, Keppel Land, said on Tuesday its first quarter net profit surged 75.3 per cent on-year to S$64.7 million. Revenue rose 9 per cent to S$158.8 million for the three months ended March 31. Keppel said the improved performance came on the back of robust residential property sales in Singapore and overseas. Net profit from its property trading arm grew 53.6 per cent to S$48.7...
$800m worth units sold here in Q1 and sales are continuing CONTRIBUTIONS from residential development projects helped lift CapitaLand's financial results for the first quarter ended March 31, 2010. The property giant reaped a net profit of $115.4 million in Q1 - some 2.7 times the year-ago profit of $42.9 million. Its revenue climbed 41 per cent over the same period to $687.3 million. CapitaLand...
PROPERTY giant CapitaLand has shelled out some $39.2 million to acquire a majority stake in Hersing Corporation's fast-growing self-storage business. Yesterday, the two companies said that they have set up a joint venture (JV) company - which is 62 per cent owned by CapitaLand and 38 per cent owned by Hersing - to buy over four self-storage properties under Hersing's StorHub brand, as well as the brand...
HIGHER residential sales in Singapore, China and Vietnam gave CapitaLand's net profit for the first quarter a substantial lift. Earnings for the three months to March 31 shot up 169 per cent to $115.4 million, compared to $42.9 million a year ago. Revenue could not match that stellar performance but still rose 41 per cent to $687.3 million, from $487 million the year before. Turnover from residential...
Property developer Soilbuild Group has been awarded the tender for an industrial site at Yishun Avenue 6 with a bid of some S$29.3 million. The 153,485-square foot site has a maximum gross floor area of nearly 384,000 square feet. The 60-year leasehold site can be used for clean and light industries and warehouses. Soilbuild estimates the total development cost including land at about S$75 million to...
Mainboard listed CapitaLand said Friday its net profit surged 169 per cent on-year to S$115.4 million in the first quarter ended March 31. Its revenue grew 41 per cent to S$687.3 million compared to the same period last year. The group said this is largely from residential development projects in Singapore, China and Vietnam, as well as increased contribution from its serviced residences operations. In...
TWO developers have tied up with financial institutions to offer low interest rates to buyers of certain residential projects. Hong Leong Finance is offering rates of as low as 0.98 per cent a year on loans to buyers of its sister firm City Developments' (CDL) The Residences at W Singapore at Sentosa Cove. For the Waterbank at Dakota condominium, United Overseas Bank (UOB) is offering an enticing deal:...