Property developer Yoma Strategic Holdings said its third quarter net loss narrowed to S$420,000 compared with a loss of S$510,000 in the year-ago period. Its revenue for the third quarter, however, rose 47 per cent to $5.31 million from $3.61 million in the same quarter last year. Yoma said this was due to a significant increase in its sales of land and buildings. Revenue for its construction-related...
developers
Singapore-listed property developers Yanlord and Ho Bee have jointly acquired a 13.69 hectare prime residential development site in Shanghai's Qingpu District for around S$784 million. The site is situated a mere 5.5 km from the heart of the Hongqiao Commercial District which has been earmarked by the Shanghai municipal government to be the city's fully integrated financial, commercial and logistical hub...
Mainboard-listed property group Ho Bee Investment said its full year net profit jumped 262 per cent to S$337 million from the preceding year. The strong profit was achieved on the back of a record revenue. Revenue for the financial year ended December 31 almost quadrupled to S$1.16 billion. Sales rose 284 per cent from the S$302 million achieved in 2008. The company also recorded strong fourth-quarter...
Mainboard-listed property developer CapitaLand has seen a spectacular jump in its fourth-quarter net profit ended in December. It said on Thursday that its fourth-quarter profit was S$886 million, up by more than 11 times from S$78 million a year ago. The surge was due mainly to its listing and offering of its CapitaMalls Asia (CMA) shares, leading to a gain of S$899.8 million. Divestments of several...
Mainboard-listed property developer Soilbuild is proposing a share split of each ordinary share in the firm into two ordinary shares. Currently, Soilbuild has an issued and paid-up share capital of S$58.4 million, divided into 217.3 million issued shares. After the split, the paid-up share capital remains, but the number of shares will double to 434.6 million. Soilbuild said the share split will improve...
Property developer CapitaLand on Tuesday said it has seen overwhelming response to its new condominium in Beijing, with 95 per cent of phase one units sold in just over two weeks. The condominium, called the Beaufort, sits on a 53,808-square metre site and is located within walking distance to Beijing Chaoyang Park, one of China's largest city parks. An entire block, comprising 467 units, was launched...
CapitaLand's Australian unit, Australand, said on Tuesday that it made a net loss of A$298.2 million. It said the accounting loss was due to revaluation losses on investment properties amounting to A$249.4 million. Moreover, it incurred the impairment of development and joint venture assets amounting to A$148.4 million, on top of a non-recurring finance cost of A$20.7 million. But Australand said it...
Construction and property development firm, KSH Holdings, has achieved a turnaround in third quarter net profit to S$5.2 million. This compared with a loss of S$900,000 in the same corresponding period the previous year. Revenue for the three months ended December fell five per cent to S$82.5 million. KSH said its construction business in Singapore continued to be its strongest revenue contributor in...
WING Tai Holdings yesterday reported a 7 per cent climb in fiscal second quarter net profit to $22.3 million from $20.9 million a year earlier as it sold more homes. The rise in earnings for the three months ended Dec 31, 2009, came on the back of a 93 per cent surge in revenue to $177.1 million from $92 million a year ago. Q2 earnings per share climbed to 2.87 cents in Q2 from 2.67 cents the previous...
GuocoLand has recorded a remarkable recovery in its second-quarter net profit. The property developer posted a net profit of S$60.4 million for its second quarter ending December 31, a hefty increase from its earnings of about S$900,000 a year ago. The higher profit contribution for the second quarter was mainly from property development projects in China. Strong sales from its Ascot Park development...