Second Chance Properties says the group’s net profit declined 13.7% to $4.6 million for the three months ending Sept 30, 2009 (1QFY2010) from $5.4 million in 1QFY2009. This was because revenue decreased 7.7% to $17.7 million in 1QFY10 from $19.2 million in 1QFY09 due to weakened economy. Cost of sales and other operating expenses also reduced by $0.7 million. Revenue from its Malaysian operations...
Developer News
Mainboard-listed UOL Group on Friday said its third-quarter net earnings rose 44 per cent on-year to S$105.6 million. This was on the back of a 21 per cent rise in revenue for the three months ended September to S$323.9 million. UOL said progressive recognition of revenue from development properties helped boost its turnover in the quarter. The company also recorded a higher share of profits from...
Mainboard-listed property developer Wheelock Properties has posted a 59.1 per cent decline in its third-quarter net profit to S$54.3 million from a year ago. This was on the back of a 42 per cent drop in revenue for the three months ended September to S$133.1 million. Wheelock said the fall in turnover was mainly due to lower revenue recognition from Scotts Square based on the progress construction works...
Heeton Holdings, together with KSH Holdings and TEE International, have joined forces to acquire the Mitre Hotel site for $121 million, by way of a public tender. Heeton will own 45% of this project, while KSH and TEE International will take up the remaining 35% and 20% respectively. The 39,972 sq ft freehold land parcel, located along Killiney Road in Singapore’s prime District 9, has a plot ratio of...
Mainboard-listed luxury resorts operator, Banyan Tree, has narrowed its third quarter net loss to S$968,000 from S$4.9 million a year earlier. It said on Thursday this was achieved on the back of good revenue growth from its hotel investments and management segments, coupled with cost-cutting measures. Overall revenue for the three months ended September fell 14 per cent to S$71.2 million. This was...
Singapore-listed United Engineers Limited said that its third quarter net profit jumped to S$12.7 million, from S$1.9 million in 2008. The firm's revenue increased 18 per cent on-year to S$169.5 million. United Engineers said the improved revenue was mainly due to the progressive recognition of revenue from its property sales. These include sales at The Rochester in one-north and Park Central @ AMK in...
Roxy-Pacific Holdings, the homegrown specialty property and hospitality group, today announced an 8% increase in revenue to $37.6 million for the third quarter ended September 30, 2009 (Q3FY2009). Net profit declined 28% to $6.3 million in Q3FY2009 from $8.7 million in Q3FY2008. Excluding fair value gain of $2.3 million recorded in Q3FY2008, Group profit before tax increased 3% to $7.5 million from $7.3...
Heeton Holdings, the niche boutique property developer that focuses on developments catering to niche upscale markets with projects of unique and exclusive concepts, says it posted an increase of 127.3% in its profit after tax to $10.35 million in its 9 months ended 30 September 2009. This came on the back of an increase in its turnover by 38.1% to $44.37 million, mainly brought about by the increase in...
Mainboard-listed construction firm, Sim Lian Group, said that its first quarter net profit rose 23 percent from a year ago to S$27.6 million. Revenue for the three months ended September edged up 2 percent to S$194.4 million. Sim Lian said that its contract costs fell S$4.6 million despite an increase in revenue in the quarter. This was mainly due to a revision of contract costs for a development...
Singapore Land said on Friday its third quarter net earnings rose 41 per cent to S$56.3 million from a year ago. This was on the back of a 33 per cent rise in revenue for the three months ended September to S$119.1 million. The company said the improvement in revenue was mainly due to sales of The Trizon residential project and higher office rental income. But this was partly offset by lower revenue...