Singapore-listed United Industrial Corporation, UIC, has reported a net profit of S$139 million for the first half of the year ended June. This overturns the loss of S$178 million in the same period last year. Its revenue rose 18 per cent on year to S$553 million. Meanwhile, the group has posted a second quarter net profit of S$79 million dollars. This overturns the loss of S$252 million dollars in the...
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Property developer Heeton Holdings has posted a net profit of S$6.2 million for the fiscal second quarter, up 11.7 per cent on-year. Revenue for the same period increased 29.7 per cent to S$9.5 million. Heeton said the improved performance was mainly driven from sales from the company's residential developments Juluca and The Lumos. It also benefited from lower interest expense. Looking ahead, the...
Singapore-listed Parkway Life Real Estate Investment Trust has reported a second quarter distribution per unit of 2.09 Singapore cents, up 10.9 per cent from a year ago. Net property income for the three months ended June grew 15.6 per cent to S$17.3 million. For the first half of the year, net property income was up 14.5 per cent at S$34.5 million. Parkway Life says the higher revenue was due primarily...
With the interest rate on savings near zero and not able to beat even Singapore's benign inflation, forecast at 2.5 to 3.5 per cent by the Monetary Authority of Singapore, many are looking to work their savings harder by buying an investment property. Having decided that, the next question is whether to invest in a new property bought from the developer or a unit from the resale market. There are...
"Going once, going twice, sold!" This is a phrase commonly heard at property auctions in Singapore, which have - over the years - gained favour with both sellers and buyers. Auction houses, such as Colliers International, DTZ, Jones Lang LaSalle and Knight Frank, typically conduct auctions on a monthly basis in a hotel. About 200 people on average show up at each session, comprising both local and foreign...
Exclusivity is a major attraction I was asked recently for my comments on pricey homes in Singapore and my thoughts on Sentosa homes compared to those on the mainland. When I tried to explain why they are strictly not comparable, I ran into difficulties. I then realised many of us have read about Sentosa Cove. But how many of us have been there and seen these homes for ourselves? Not many, I...
A new era in property market governance Residential property demand has surged in many Asian cities as speculators and homeowners alike clamour to get a piece of the action before prices exceed their threshold buying level. We have seen volume and prices of new launches in Singapore rising unabated. In 3Q09, the Property Price Index, a national price index developed by the Urban Redevelopment Authority...
The Goodland Group has sold more than 80 per cent of the units in its latest freehold property - Suites @ Topaz - at a private preview held for its business associates yesterday. The five-storey development, located in the city fringe at 3 Topaz Road, has 46 units made up of one bedroom, one-plus-study, two bedroom and penthouse configurations. The unit sizes range between some 366 square feet and 1,463...
Millennium and Copthorne (M&C) Hotels, the hotel arm of mainboard-listed City Developments (CDL), has reported that its post-tax headline profit rose some 45 per cent on-year to £36.5 million ($78.4 million) for the first half of this year. This came on the back of 11 per cent rise in group revenue to about £350.5 million. Revenue per available room (RevPAR) - an industry performance gauge - rose...
Sydney undersupplied, but Melbourne is where potential lies Singaporean property buyers who may be looking for opportunities to invest Down Under should consider picking up Melbourne residential properties given the high housing demand and potential for price appreciation there. "Australia remains in chronic undersupply in housing," said Mr Bob Johnston the managing director of Australand, the...