Building materials group Hong Leong Asia on Wednesday reported a 38 per cent rise in first quarter earnings to S$30.2 million while its revenue rose 34 per cent to about S$1.1 billion. The improved earnings and higher revenue were due to higher unit sales volume of its China operations. The company said there was also higher consumer demand which boosted its Singapore business. Hong Leong said the...
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Radac’s here to help, but consumers should ensure contractor is accredited first We refer to the letter “Renovation Aggravation” by Raymond Ng (April 29). Radac was set up by the Consumer’s Association of Singapore (Case) in 1986 to provide greater control in the renovation industry. Recognising Radac’s importance, growth and capability, Case’s Central Committee recommended that Radac...
A new international school - NPS (National Public School) International - has officially opened in Singapore. While classes began less than 6 months ago, the school already has plans to expand. NPS has 212 students from kindergarten to Grade 9. It will extend its curriculum to include early childhood programmes in the near future. NPS is the third Indian school to set up in Singapore. The other two are...
The former Ministry of Home Affairs (MHA) Complex at Tanglin Road, which is also known as Phoenix Park, has been placed for tender. According to the Singapore Land Authority (SLA), the prime site on the fringe of the Orchard Road belt will be open for adaptive re-use as office space. Analysts said they are expecting to see strong interest due to the current office space crunch. Winston Cheah, Senior...
Property developer SC Global saw its net profit rise 75 percent in the first quarter to S$19.2 million, despite revenue falling 20 percent to S$43 million. But the outlook going forward appears cautious. Like many other developers releasing results in recent days, SC Global said market sentiment has been dampened by the sub-prime fallout in the US. It said medium to long-term fundamentals in the...
Changi Airport has scored again, bagging two awards in Singapore and London. The Civil Aviation Authority of Singapore (CAAS) has been voted "The Airport Authority with the Most Supportive Approach to Travel-Retail". The title was given at the Duty Free News International (DFNI) Awards for Travel-Retail Excellence in the Asia-Pacific Region. The awards were presented in Singapore on Tuesday. Other...
Another landmark near Orchard Road may soon get a facelift. Channel NewsAsia understands that Shaw Organisation is considering a major redevelopment of Shaw House and its neighbouring Shaw Centre. According to some sources, an official announcement is expected by August. The news comes even as some tenants have moved out in recent months following a spike in rentals. Shaw House has been a major landmark...
Asia Food & Properties has returned to the black in its fiscal first quarter. The firm reported a profit of S$45 million, overturning a loss of S$2.7 million in the year-ago period. Revenue rose 9.5 percent to S$195 million, mainly from its China property business and its food operations. Asia Food & Properties said the outlook for the commercial and hotel sector of the China property business...
Property developer Wing Tai Holdings on Monday said its third-quarter net profit fell 49 percent to about S$28 million. This comes as revenue fell 63 percent to S$110 million. For the nine months, its net profit declined 4 percent to S$133 million. The company said the drop was due to lower revenue and operating profit from its development properties division. It noted that the US sub-prime crisis and...
The shortage of places at international schools in Singapore shows little sign of easing, even as many have announced expansion plans. The latest is Tanglin Trust School which says it will add another 700 places from next year. The situation is of concern among business groups and even the Singapore government. For many foreign companies, doing business in Singapore is getting more costly. Amidst rising...