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...
Construction firm Chip Eng Seng has reported a 40 percent rise in first-quarter net profit to S$8 million. Revenue rose 33 percent to about S$60 million, boosted mainly by its construction business. Chip Eng Seng's revenue from construction projects jumped 74 percent to S$52.5 million in the first quarter. But its other two divisions, property development and property investment, faired less well with...
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...
Ascendas Real Estate Investment Trust (A-REIT) is buying a business park building in Jurong for S$246.8 million. The property at 31 International Business Park is currently owned by multimedia firm Creative Technology. It has a gross floor area of about 62,000 square metres and a net lettable area of some 50,000 square metres. It includes three office towers, an auditorium and a 2,000-capacity outdoor...
Conglomerate Fraser and Neave (F&N) on Friday said it is looking to expand its food and beverage business in a bid to rebalance profit contributions from its other businesses. For the half-year ended in March, F&N booked a nearly 12 percent rise in earnings on-year to S$205 million. Revenue rose by the same margin to S$2.5 billion. The property business is driving growth for F&N. Commercial...
Fairmont Raffles Hotel Int'l sells its stake in Raffles Hotel to ex-Credit Suisse banker THE Grand Dame of Singapore will be getting a new master — yet again. Fairmont Raffles Hotel International — controlled by Saudi Arabian billionaire Prince Alwaleed bin Talal and United States-based private-equity company Colony Capital — is selling its stake in the 120-year-old Raffles...
Property developer Yanlord Land on Friday said its first quarter net profit more than tripled on year to S$9.3 million. This was due mainly to a sustained growth in demand and higher average selling prices for its high-end residential units in the quarter. Revenue rose 30 per cent on year to S$116.2 million. China-based Yanlord said the mainland's real estate sector continues to show strong growth...
Location: 316-328 Upper East Coast Road (District 16) Land Size: 96,614sqft Tenure: Freehold Year of Completion: 2011 Total Units: 88 Unit Types: 2/ 3/ 3+1/ 4 and penthouse Nestled within the residential enclave of East Coast that enjoys the serenity and tranquility Close proximity to Changi International Airport , East Coast Park and CBD. Eateries and cafes along the stretch from Katong to Siglap. Near...