IN a property market where heavyweights such as CapitaLand and City Developments are in the limelight, a relatively small company like Chip Eng Seng Corporation appears to have escaped the attention of most analysts. Although earnings in recent years have varied - from as low as S$57.2 million in 2015 to as high as S$280.7 million in 2014 - the group has been quietly putting its chess pieces in play and...
Chip Eng Seng
Construction and property group Chip Eng Seng reported on Thursday a year-on-year decrease of 14.2 per cent in its net profit for its second quarter to S$17.7 million. This is down from S$20.7 million recorded during the same period last year. The group also registered a 31.1 per cent decline in its second quarter revenue to SS$86 million compared to S$125 million a year ago. Its property development...
Mainboard-listed construction firm Chip Eng Seng said third-quarter net profit grew 37 per cent from a year earlier to S$23.7 million. This compares with a net profit of S$17.3 million in the same three-month period last year. Meanwhile, revenue grew 10 per cent from a year earlier to S$115 million. The company said revenue growth was driven by property-development revenue, which jumped 79 per cent, led...
Construction and property firm Chip Eng Seng on Friday said its first-half net profit rose 76.1 per cent on-year to S$47.2 million. This is on the back of a 53 per cent on-year increase in revenue to S$225 million. Meanwhile, for the second quarter ended June, its profit increased 55.5 per cent on-year to S$22.4 million. Its revenue surged 83.5 per cent to some S$125 million. The group said the better...
Mainboard listed Chip Eng Seng said its net profit has doubled on year to S$24.8 million for the first quarter ended March 31. Its revenue for the three months rose 26.7 per cent to S$100.1 million, lifted mainly by its property developments segment as well as contributions from its property joint ventures. The company had joint development projects such as The Parc Condominium, CityVista Residences and...
Property developers' strong appetite for land banks are showing little signs of letting up, if the latest tender results announced by the Urban Redevelopment Authority (URA) for the Simei Street 3 site is anything to go by. The 99-year leasehold residential site had been hotly contested, receiving a total of 18 bids - the highest so far this year. That represents "an all-time high level of interest not...
Chip Eng Seng Corporation said on Monday its wholly-owned subsidiary, CES Corporation Australia, has jointly acquired a land parcel in Perth. The construction and property group said the latest acquisition will be placed under its new joint venture company called 242 West Coast Highway Scarborough. The joint venture company acquired the land parcel located in Scarborough, Western Australia for A$20...
Mainboard-listed construction firm Chip Eng Seng has won a S$156 million contract to design and build residential units in Punggol West for the Housing and Development Board (HDB). The deal includes the construction of a car park and community facilities. Construction is expected to begin in April next year, pending HDB approval, and is estimated to take 30 months to complete. This is the third...
Chip Eng Seng has won a $124m HDB contract to build five residential blocks in Sengkang. The contract also includes the construction of a multi-storey car park, with a planned community facility on the first floor and a precinct pavilion. Construction is expected to begin this month, and be completed by 2011. The new contract brings Chip Eng Seng's current order book to a total of $755 million. Earlier...
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...