Luxury resorts and spa operator Banyan Tree is reaping more rewards from its overseas expansion. Banyan Tree Bintan (file picture) Its net profit for the full year jumped 142 percent to $102 million. This was achieved on the back of a 26 percent rise in revenue to $422 million. The bottomline was driven by Banyan Tree's hotel operations and property sales segments, coupled with a one-off negative...
Developer Allgreen Properties says its full year net profit jumped more than six fold to S$493 million. Its earnings were boosted mainly by fair value gains on its investment properties. Excluding the fair value gains, net profit would have nearly doubled on year to S$145 million. Revenue rose 19 percent to S$569 million. The company benefitted from higher sales of properties as a result of the buoyant...
Property developer City Developments (CDL) has booked record full year earnings, thanks to strong home sales and hotel revenues. Net profit for 2007 more than doubled on-year to S$725 million, beating market expectations. Revenue rose by 22 percent to S$3.1 billion. CDL says it will not rush into new residential launches in the coming months but will closely monitor market conditions. It has been a...
Location: Martin Place (District 9) Tenure: Freehold Year of Completion: 2011 Total Units: 302 in two 33-storey residential towers Unit Types: 1 bedroom ~ 592-646 sqft 2 bedroom ~ 1,044-1,163 sqft 3 bedroom ~ 1,421 sqft 3 + study ~ 1,722 sqft 4 bedroom ~ 1,894-2,002 sqft Penthouse ~ 3,326 | 3,380 | 3,434 sqft Facilities: Swimming Pool (Olympic-size 50m x 25m; 8 lanes) Children's Pool Clubhouse with...
Grand Duchess at St. Patrick's - an Architectural Masterpiece, infusing the past and present to form a rich fusion of heritage and modernity. Designed with a blend of Straits Chinese architecture along with British Colonial styled influences, Grand Duchess immaculately compliments the 2 conserved bungalows with five modern contemporary buildings amidst a lush garden landscape, providing an enchanting...
But banks now have to deal with slowing economy A heart-thumping sub-prime ride for local banks may be nearing a halt after two quarters of hefty provisions for risky investments. But investors looking to banks repeating the double-digit earnings gain of recent years could be disappointed. A slowing economy is likely to put a squeeze on interest margins and earnings growth, suggesting 2008 could turn out...
Singapore has been increasingly attracting new citizens and permanent residents (PRs), who help sustain the country's economic growth. Deputy Prime Minister Wong Kan Seng said local Singaporeans alone are still not sufficient to meet the manpower demands here. He revealed the latest immigration statistics during the debate on the Prime Minister's Office budget on Wednesday. According to the figures,...
According to Finance Minister Tharman Shanmugaratnam, the Government Land Sales policy has been a responsible one that is also market-led. The minister made this comment in Parliament on Wednesday in response to questions raised during the Budget debate. He added that the government is doing the right things to sustain Singapore's competitiveness. The Government Land Sales programme came under the...
Property developer CapitaLand said it views the Vietnam market as being the second most important market for itself after Singapore. President and CEO Liew Mun Leong has likened the growth potential of Vietnam to Chinese cities like Shanghai and Guangzhou. To help the company expand in Vietnam, CapitaLand has formed a strategic partnership with another Vietnamese developer. Urbanisation in Vietnam is...
A robust property market and a strong economy have helped developer Ho Bee to report record full-year earnings. Net profit jumped 176 percent on year to S$272 million. This was achieved on the back of record revenues of S$596 million, up 52 percent on year. Ho Bee's development properties reported higher sales due to the progressive recognition of income from its residential projects, including those at...