Mainboard-listed Starhill Global REIT, which owns malls along Orchard Road, has reported a 6.3 per cent increase in its distribution per unit (DPU) for the first quarter of this year, compared to a year ago. The DPU for the three months ended March was 1.87 Singapore cents. Its total income available for distribution also rose 12.2 per cent to S$19.1 million. Of this, S$18 million will be distributed....
General
Despite the economic downturn, Singapore is soldiering on with a new blueprint for sustainable development for the next 10-20 years. Under the plan, at least 80 per cent of all buildings in Singapore will be energy-efficient by 2030. This is part of a grand plan, which aims to make Singapore a "lively and livable" city without straining natural resources. Some $1 billion will be spent for the first five...
While the billions poured into Marina Bay are expected to bring in the crowds, the recession and asset re-pricing means it will take a while to recoup that investment. LAST TUESDAY MORNING, wearing a hard hat, safety harness, safety boots, and accompanied by an entourage of executives from the Urban Redevelopment Authority, Minister for National Development Mah Bow Tan, toured some of the key areas of...
With Singapore becoming more populated, there is an increasing need to make living in HDB flats more enjoyable. For most HDB residents, loud music is a nuisance. But sometimes telling your neighbour off can be difficult. In fact, some MPs - who are also advisers to the Workgroup on "Promoting Better Social Behaviour" - have noticed reduced communication between residents. To deal with those who...
Property prices across the board were down in the first quarter of 2009. Official figures released Friday showed that in the private property market, residential, office, shop and industrial properties decreased fetched lower prices both in terms of sales and rentals. As for HDB’s Resale Price Index (RPI) for public housing, it showed a fall by 0.8% in 1st Quarter 2009 over the previous quarter. This...
A slowdown in the prime property market in Singapore has prompted a handful of developers to ask for extensions on their projects in the high-end Sentosa Cove. One developer has been granted a one-year extension. The residential properties on the resort island of Sentosa are aimed at providing luxury waterfront living. But prices have been hit amid the property slump in Singapore. There are 1,700...
Property developer Singapore Land reported net profit of S$73.2 million for the first quarter of 2009 - more than double of the amount recorded a year before. It saw revenue rise by 4 per cent to S$86.2 million on higher rental income, which was partially offset by lower revenues from its Pan Pacific Singapore hotel. The developer said revenue from the hotel fell by 28 per cent to S$21.3 million due to...
Property developer Keppel Land has become the latest company here to boost its capital through a rights issue. It is seeking to raise some S$712 million by issuing about 653 million new ordinary shares. Under the rights issue, holders will be offered nine rights shares for every 10 existing ordinary shares. Each rights share would be sold at a price of S$1.09, a 42 per cent discount over Thursday's...
Property developer CapitaLand on Friday posted an 83 per cent fall in its first quarter profit. For the three months ended March, the developer's profit was S$42.9 million, down from S$247.5 million earned over the same period last year. Revenue fell by 23 per cent to S$487 million due mainly to lower property values across the region. Lower profits were recorded in China, Europe and Australia, which...
Mapletree Logistics Trust saw its distributable income amount rise 36.1 per cent to some S$29 million in the first quarter of 2009 over the previous year. The trust said available distribution per unit (DPU) was 1.47 cents for the period, which is about 0.7 per cent higher compared to the previous quarter. The payout will be made on May 29, 2009. Mapletree Log said the increase is largely due to lower...