THE Straits Trading Company swung back into the black with a third-quarter net profit of S$16.8 million, compared with a loss of S$7 million in the previous year, the group said in a Singapore Exchange filing on Friday. Revenue for the three months ended Sept 30, 2016, fell 18 per cent to S$113.4 million from the preceding year. Earnings per share were 4.1 Singapore cents, a reversal from a loss per...
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ARA Asset Management Ltd group founder and chief executive officer John Lim is leading a consortium that includes Cheung Kong Property and Straits Trading Company to take the group private at S$1.78 a share. Teaming up with them in the buyout through a scheme of arrangement are US private equity firm Warburg Pincus and AVIC Trust Co, a unit of the Shanghai-listed AVIC Capital Co. The consortium said...
RENTALS for both non-landed private homes and HDB flats continued to ease month-on-month (m-o-m) in October 2016. However, leasing volumes rose in both segments, according to the latest flash estimates released by SRX Property on Wednesday morning. SRX's rental index for private apartments and condos fell 0.4 per cent in October 2016 over September 2016 after retreating 0.5 per cent m-o-m in September...
The impact of the North-South Corridor (NSC)’s construction on the 92-year-old Ellison Building can “be reduced to one corner shophouse unit, instead of a larger portion of the building”, said Senior Minister of State for National Development Desmond Lee in Parliament on Tuesday (Nov 8), citing recently concluded engineering studies. A prior assessment had stated that three units of the conserved...
Resale prices of condominium units and apartments fell by 0.7 per cent in October from September, according to flash estimates released by SRX Property on Tuesday (Nov 8). The month-on-month drop was the sharpest since a 0.9 per cent fall in January and February this year. September's drop in resale prices was revised up to 0.6 per cent from the flash estimate of 0.9 per cent. Based on the SRX...
Blackstone is to buy OfficeFirst Immobilien from IVG Immobilien AG, ending months of talks over a potential sale or stock market listing of the German property company. Both sides did not comment on the price, but three people familiar with the process said Blackstone was paying around 22 euros per share, which, including debt, gives the deal an enterprise value of 3.3 billion euros (US$3.65...
A 99-year leasehold white site with a mandatory office component along Central Boulevard in Singapore has attracted seven bids. The highest bid of S$2.57 billion, which works out to S$1,689 per square foot per plot ratio (psf ppr) was made by IOI Properties Group Bhd of Malaysia. This is the highest bid ever in absolute dollar quantum as well as psf ppr for a Government Land Sale site in...
RESALE prices of non-landed private residential units slipped a steeper 0.7 per cent in October after a 0.6 per cent decline in September, the flash estimate from SRX Property shows. The main drag came from the suburban area or the Outside Central Region, where resale prices fell 2 per cent, followed by a 0.8 per cent drop in the prime area or Core Central Region. On the other hand, resale prices in the...
The resale prices of Housing and Development Board (HDB) flats fell marginally last month, according to flash estimates released by a property index on Thursday (Nov 3). On a month-on-month basis, HDB resale prices in mature and non-mature estates both decreased by 0.1 per cent in October. Compared to a year ago, prices were down 0.5 per cent, SRX Property said. Resale prices of three-room and...
Unfazed by the sluggish local retail conditions, Toys “R” Us is expanding its foothold in Singapore, with plans to unveil two more stores in the coming months. One will be slated for opening before Christmas and another by early-2017, country manager Raymond Burt told Channel NewsAsia on Wednesday (Nov 2) at the launch of its newly-refurbished flagship store at VivoCity. That will bring the number...