Mainboard listed Koh Brothers says its first quarter net profit rose 47 per cent on year to S$2.8 million. Revenue increased 39 per cent to S$84.8 million compared to the same period last year. The group says this was on the back of improved performance from its Construction and Building Materials divisions. Looking ahead, group managing director Francis Koh says with general market sentiment picking...
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Mainboard listed Chip Eng Seng said its net profit has doubled on year to S$24.8 million for the first quarter ended March 31. Its revenue for the three months rose 26.7 per cent to S$100.1 million, lifted mainly by its property developments segment as well as contributions from its property joint ventures. The company had joint development projects such as The Parc Condominium, CityVista Residences and...
Mainboard-listed Saizen Reit says it has started to accumulate cash in preparation for its resumption of distribution payouts. It says it has turned the corner and expects payment of its 2010 financial year distributions to unitholders to take place in September this year. Saizen says its net property income for the third quarter ended in March fell 12.4 per cent to S$10.1 million compared to the same...
Property developers' strong appetite for land banks are showing little signs of letting up, if the latest tender results announced by the Urban Redevelopment Authority (URA) for the Simei Street 3 site is anything to go by. The 99-year leasehold residential site had been hotly contested, receiving a total of 18 bids - the highest so far this year. That represents "an all-time high level of interest not...
A tiny piece of a condominium development encroaching onto State land is making some residents see red, and they now want the developer to tear down and rebuild the affected wall, or buy over the 15 sq m plot of land from the Government. The infringement occurred when the development was being built in the 1990s. Great Victoria Development (GVD), through its interim management council, had negotiated...
The Building and Construction Authority (BCA) may make family-friendly features compulsory in some future buildings. But, it stressed, the decision will be made only after careful consultation with stakeholders. This year, the authority gave out a record 13 awards to buildings with good design. Tampines Primary School became the first and only public school to achieve the gold standard, for...
China's inflation has accelerated as bank lending exceeded estimates and property prices jumped by a record, increasing pressure on the government to raise interest rates and let the currency appreciate. Consumer prices rose 2.8 per cent last month from a year earlier, the fastest pace in 18 months, while real estate prices jumped 12.8 per cent, the statistics bureau said yesterday. Meanwhile, new...
Since October last year, transaction prices of apartments at the 646-unit Icon near the Tanjong Pagar MRT station have increasingly crossed the $1,700 psf level. Most recently, one unit went for $1,828 psf. Last October, a unit breached the $2,000 psf level for the first time since June 2008 — in that transaction, a 1,001 sq ft unit on the 44th floor changed hands for $2.2 million, or $2,206 psf. The...
SINGAPORE'S quick recovery from the global financial crisis has seen consumer sentiments and consumption moving in tandem. It is a time when people might look to spend more on big-ticket items such as properties, cars and weddings and, in the process, take a loan to finance their purchases. Getting a loan is usually not a difficult task, but there are many factors one should first consider. 'Consumers...
Instead of squeezing with other drivers to get to Raffles Place every morning, imagine taking a water taxi down the Singapore River to get to work. Or, for those who aspire to live in the city, what if you had a wider range of options including rental apartments for young adults and a re-use of existing buildings. For those who live in HDB flats, there could be more mid-rise communal spaces within the...