Banyan Tree Holdings has seen its third quarter earnings hit by political unrest in Thailand which affected its operations there. The resort developer and manager posted a 78 per cent on-year decline in net profit to S$14 million for the first nine months of the year to September. In the third quarter, the company reported a net loss of S$4.9 million compared to net profits of S$49.1 million last...
developers
SPECULATION that Singapore multinational property company CapitaLand could be part of a rescue effort for the Marina Bay Sands integrated resort project is being downplayed by the developer. A company statement yesterday clarified that “no discussion has transpired between itself and Sands”. CapitaLand nevertheless stated that it is currently monitoring and studying any opportunities arising from...
Property group Orchard Parade Holdings posted a 36.3 per cent increase in net profit to S$36 million for the nine months ended September as compared to last year. The improved performance was attributed to the group's hotel business which saw higher room rates. The company also saw lowered costs and improved contributions from associated companies. Revenue for the period slipped 18.3 per cent to S$54.4...
SOUTH-EAST Asia's largest property developer, CapitaLand, saw its third-quarter profit fall by 26 per cent as slowing economic growth continues to hurt demand for homes in Singapore, China and Australia. Net income fell to $419.4 million, from $563.9 million a year earlier, CapitaLand said in a statement yesterday. Revenue declined 33 per cent to $597.2 million. "The fundamentals in the group's core...
Southeast Asia's largest property developer CapitaLand posted a 26 per cent drop in third quarter net earnings over a year ago. Net profit came in at S$419.4 million due to lower sales. Revenue in the three months ended September also fell by some 33 per cent to S$597 million. For the year-to-date, net profit hit S$1.18 billion, down from S$2.08 billion in the same period last year. CapitaLand said it...
CAPITALAND, Singapore's largest real-estate developer by assets, will hold back on investments until the global credit crisis shows signs of bottoming, said chief executive officer Liew Mun Leong. CapitaLand is evaluating opportunities to invest about $4 billion of cash and will wait for signs that the rout in financial markets is nearing an end, Mr Liew said. The developer has invested about half of the...
Keppel Land has turned in a 23.2 per cent drop in earnings for the first nine months of 2008. Net income came in at S$159 million. Revenue for the same period fell by almost 38 per cent on-year to S$645 million. Keppel Land said the global economic crisis has hurt residential sales in China, Vietnam, India and Indonesia in the third quarter of 2008. It also saw lower earnings from its property services...
CapitaLand residential projects in Bahrain and Abu Dhabi have attracted S$1 billion in sales since June 2008. The projects were taken up by a mix of individual and corporate parties. CapitaLand has two major projects in the Gulf Cooperation Council region – Rihan Heights, which is part of the landmark Arzanah integrated development in Abu Dhabi, and its first Raffles City integrated development in...
The next six months look set to be bumpy for the private residential property sector, with market watchers predicting prices to head south by about 10 per cent. And real estate agents and developers are likely to get creative in driving sales and keeping costs down. Builder and developer United Engineers will focus on infrastructural projects elsewhere in the region, while the Singapore property market...
Sim Lian Land has been awarded the tender for an industrial site at Ubi Avenue 4. The company submitted a bid of S$26.3 million for the 60-year lease site. The site has an area of 11,491.5 square metres and a maximum permissible gross plot ratio of 2.5. It can be developed into a range of clean and light industrial uses. Source : Channel NewsAsia - 3 Oct...