The government is seeing some signs of speculation in the Singapore property market, according to National Development Minister Mah Bow Tan. Speaking on the sidelines of the topping out ceremony of the Marina Bay Financial Centre on Wednesday morning, Mr Mah said the government is monitoring the situation. It is uncertain if the buying momentum seen in recent months can be sustained, he added. "The...
General
Starhill Global REIT says it has achieved a distributable income of $18.4 million for 2Q 2009. Distribution Per Unit (DPU) for the period 1 April to 30 June 2009 was 1.90 cents, 6.7% higher compared to the 1.78 cents achieved in 2Q 2008. On an annualised basis, Starhill Global says the latest distribution represents a yield of 12%. Gross revenue in 2Q09 was $33.4 million, or 10.5% higher than that of...
Homegrown building construction group Lian Beng has posted a 43.3% gain in net profit to $17.2 million for the financial year ended May 31 (FY09), compared to $12 million in FY08. The record profit was achieved on the back of a 58.3% jump in revenue to $308.4 million, from $194.8 million in FY08. Lian Beng says its construction division remained its key growth driver, contributing the bulk of total...
The buoyant property market in the past six months has attracted not just home buyers but also mid-career professionals who have made the switch to become property agents. Industry watchers said there are about 26,000 housing agents in Singapore and this number is likely to go up to 40,000 if the positive market sentiment continues. During the lull in 2008, there were less than 20,000 agents. Since...
Singapore-listed Fortune REIT, which owns shopping malls in Hong Kong, said its distributable income for the second quarter dipped 0.7 per cent to S$14.7 million. Net property income for the three months ended June edged up slightly by 0.3 per cent to S$21.4 million. Distribution per unit for the first half of the year rose 5.9 per cent from a year ago to 19.6 Hong Kong cents. The REIT said higher...
Engine maker Rolls-Royce plans to build a new factory in Singapore making wide chord fan blades (WCFBs) used in military and commercial aircraft engines. The plant will be located at its Seletar Campus site alongside a previously announced facility, which will test and assemble Trent aero engines. Total investment in the Seletar Campus, including the new factory, will exceed S$700 million or 300 million...
S$300 million will be pumped in to boost transport infrastructure within and leading into Sentosa. This involves several new projects, including building an intra-island cable way and a bridge linking Merlion Plaza to Resorts World. Come November next year, visitors will have yet another mode of entry to the island. They can choose to walk to the island via a new boardwalk. Said chief executive officer...
FED UP with the view outside your apartment window? Fancy being transported to the buzz of a New York street instead? If you live in one of James Law's "intelligent" apartments, you would be able to - literally - change the view outside your window to one from a variety of cities - in real time. Flashback to the first day of the new millennium, when James, an architect, announced he wasn't going to be...
EXPATRIATES in Singapore feel fairly secure about staying here despite the global economic downturn. A recent global survey by HSBC has shown that 91 per cent of 192 expatriates living in Singapore said that they have not considered returning home despite the downturn. This is higher than the global average of 85 per cent, said HSBC in its annual "Expat Explorer" survey released yesterday. More than...
Mainboard-listed Fragrance Group said one of its subsidiaries has bought a property at Eastwood Road for S$15 million. The free hold site has a total land area of some 28,000 square feet. It is zoned for residential development and has a maximum plot ratio of 1.4. Fragrance said it plans to develop the land parcel into a residential apartment building. It will fund the acquisition and the development...