Wing Tai Holdings on Friday announced a profit of S$22.3 million for the fiscal second quarter. This was a 7 per cent increase from the corresponding period last year. Revenue for the quarter came in at S$177 million. This was a 93 per cent increase from the same period last year. For the half-year ended 31 December 2009, the Group posted a revenue of S$454.3 million. This was a 101 per cent increase...
developers
Singapore billionaire property tycoon and Far East Organization chairman Ng Teng Fong, 82, died on Tuesday morning. Far East Organization said in a statement that Mr Ng suffered brain haemorrhage on January 23. He was taken to hospital where he underwent an operation. Mr Ng was ranked Singapore's richest man by Forbes magazine last year. His family's net worth was estimated at US$8 billion in 2009. He...
Property developer Guocoland said the half year net profit of its Malaysian subsidiary for the period ending 31 December 2009 has declined 12.4 per cent to S$3.39 million compared to the previous year. This is despite its revenue for the six-month period has more than doubled to S$36.6 million due to higher proceeds from property development. Guocoland Malaysia's second quarter net profit fell by 75.3...
Property developer CapitaLand has reported strong sales at its 165-unit Urban Suites condominium, after selling 90 per cent of the 140 units released. Prices have also increased to between S$2,500 and S$2,800 per square foot compared to the phase one release of its first 60 units. The units in phase one were sold at prices ranging from S$2,400 to S$2,700 per square foot. About 70 per cent of the buyers...
Mainboard-listed China-based property developer Ying Li International intends to acquire two potential prime sites in China. It is setting up a wholly-owned subsidiary through the acquisition of Shiny Profit Enterprises, which has an initial registered share capital of US$10,000, for the purpose. Through Shiny Profit, Ying Li plans to buy two prime sites located in the Chongqing Yuzhong Central Business...
CapitaLand is buying the real estate business of Hong Kong's Orient Overseas International for about S$3.1 billion in cash. The move will double CapitaLand's property portfolio in China, which will now make up 36 per cent of the group's total assets following the acquisition. The latest acquisition will expand its portfolio to include seven sites for development in Kunshan, Tianjin and...
Keppel Land has signed a joint venture agreement with its Vietnamese partner Tien Phuoc to develop an 11-hectare waterfront residential site for 175 villas fronting the Saigon river in Ho Chi Minh City. The signing was witnessed by Prime Minister Lee Hsien Loong and Vietnamese Prime Minister Nguyen Tan Dung. This is the third project that Keppel Land and Tien Phuoc are working on together. The other two...
Property developer CapitaLand has signed a joint venture agreement for a second residential project in Hanoi, Vietnam. The agreement with Vietnamese real estate developer Hoang Thanh is to jointly develop a 14,000 square metre residential site in Ha Dong district in Hanoi. Prime Minister Lee Hsien Loong and Vietnamese Prime Minister Nguyen Tan Dung witnessed the signing in Hanoi on Tuesday. CapitaLand...
Mainboard-listed construction firm Lian Beng Group on Tuesday said its half year net earnings rose 28 per cent to S$11.4 million from a year earlier. This was on the back of a 4 per cent rise in revenue to S$157.6 million for the six months ended November. Lian Beng said the top-line growth was driven by revenue recognition on progress made in the construction of various projects. These include the Ritz...
Property developer Keppel Land said it has acquired a third township site in Vietnam's Ho Chi Minh City. Through its wholly-owned subsidiary, Flemmington Investments, Keppel Land has entered into a joint venture with two Vietnamese developers. Flemmington will work with Tien Phuoc and Tran Thai to develop a waterfront residential township in Ho Chi Minh's popular District 2. Under the joint venture,...