CapitaLand, one of South-East Asia's largest property developers, said on Wednesday (Feb 17) its profit for the fourth quarter fell nearly 40 per cent from a year ago, hurt in part by the absence of gains recorded last year from the sale of an office tower. The group's profit after tax and minority interests for the quarter fell 39.5 per cent to S$247.7 million from S$409.4 million. Operating profit was...
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CapitaLand, South-east Asia’s biggest developer, says it has withdrawn from negotiations to buy Asia Square Tower 1. The company will continue to explore opportunities that allow it to generate required returns, it said in a statement today (Nov 4). CapitaLand didn’t give a reason for its decision. A consortium of Norway’s sovereign wealth fund and CapitaLand was chosen as the preferred bidder...
Southeast Asia's biggest property developer, CapitaLand, on Wednesday (14 Oct) confirmed news reports that it was involved in talks to buy the Asia Square Tower 1 office building. Its statement to the stock exchange came a day after Bloomberg News said a consortium of Norway's sovereign wealth fund and CapitaLand has been chosen as the preferred bidder for the 43-storey office building in Singapore's...
CapitaLand Mall Trust (CMT), Singapore's largest shopping mall trust, will buy Bedok Mall from sponsor CapitaLand in a deal that values the mall at S$780 million. The 222,500 square foot Bedok Mall, which opened in December 2013, is part of an integrated retail-residential-transport development at Bedok Town Centre that includes the 583-unit condominium Bedok Residences developed by CapitaLand. The...
Real estate company CapitaLand Limited posted a Profit After Tax and Minority Interests (PATMI) of S$409.4 million for the fourth quarter of 2014, an 187 per cent increase over the same period in 2013, it announced in a news release on Tuesday (Feb 17). The group also posted a PATMI of S$1.16 billion for the 2014 financial year, which is a 38.2 per cent increase year-on-year. The group attributed the...
Another long-serving senior CapitaLand executive has resigned, worsening an exodus that has already seen the departure of its deputy chief executive and the head of shopping malls. “Wong Heang Fine, CEO, CapitaLand Singapore (Residential), will be leaving the organisation at the end of October 2014 to pursue other professional interests," CapitaLand Group CEO Lim Ming Yan said in a statement early...
CapitaLand, Singapore’s largest property developer, said on Tuesday (Aug 5) its net profit for the second quarter rose 14.5 per cent from a year ago. Net profit for the quarter was S$438.7 million, compared with a restated S$383.3 million in the same period last year. Revenue fell 13 per cent to S$875.3 million, with Singapore and China accounting for 72.9 per cent of overall group revenue. The...
Deputy Prime Minister Teo Chee Hean on Wednesday (July 30) led a Singapore delegation on a visit to the future Raffles City Chongqing work site. He is in Chongqing on the third day of an official trip to China. The US$3.4 billion (S$4.3 billion) future Raffles City Chongqing is designed by Moshe Safdie, the world-renowned architect behind the Marina Bay Sands in Singapore. Apart from a mall, offices...
Serviced residence operator Ascott has secured another four management agreements in China, the company said on Monday (June 23). Ascott, CapitaLand’s wholly-owned serviced residence business unit, said it will operate its first serviced residence in Taiyuan, the 170-unit Ascott Taiyuan, which is slated to open in 2018. It will also operate the 195-unit Ascott Riverside Garden Beijing and 342-unit...
Singapore property giant CapitaLand has crossed the shareholding threshold that will allow it to compulsorily acquire the remainder of CapitaMalls Asia (CMA). As at 5pm on 6 June, CapitaLand and concert parties own or have agreed to buy 97.1 percent of CMA's issued share capital -- above the 97.02 percent level that will allow the compulsory acquisition, a spokeswoman said on Sunday. CMA shares will...