Frasers Hospitality, the serviced apartment arm of the Fraser and Neave group, wants to expand in Singapore but may be put off by high land prices and construction costs. Its Chief Executive, Mr Choe Peng Sum, said: “We think there is scope for at least another Frasers property here, but we are a bit concerned about the high building and land costs here. Just a couple of years ago, it used to S$700 per...
Fraser and Neave (F&N)
Singapore's Fraser and Neave has received an unsolicited cash offer from an unidentified party for its serviced-residence and hospitality business. The conglomerate said the S$1.4 billion (US$1.1 billion) offer is unrelated to any director or substantial shareholder of F&N. Last month, TCC Assets, which is linked to Thai Beverage, offered S$8.88 a share for the entire F&N business, valuing the...
Singapore's Fraser and Neave has agreed to sell its 56.05 per cent stake in Frasers Property (China) for S$261 million to a unit of Shanghai-listed Gemdale Corporation, as it streamlines its property business in China. Source : Today - 14 Sep...
Conglomerate Fraser and Neave (F&N) has posted a 13.9 per cent on-year increase in net profit to S$132.7 million for the third quarter ended June. Revenue for the three months rose 7.6 per cent to S$1.4 billion. F&N said its property arm registered higher earnings due to strong rental income, recognition of pre-sold projects and recovery in its core residential markets. Its soft drinks, dairies...
Kirin's investment spurs talk that property arm may be hived off and it is certainly strong enough to stand on its own The entry of Kirin Holdings, one of Japan's largest brewers, as a strategic shareholder of Fraser and Neave (F&N) is making many observers once again ponder the likelihood of a split of the local conglomerate into three units - or at least for F&N to hive off its property arm as...
Conglomerate Fraser & Neave (F&N) said its half year profit was up 93.7 percent or nearly doubled to S$306 million. The earnings were lifted by a stronger second quarter where profit rose 89 per cent to S$170 million. Revenue in the first half rose about 19 per cent to $2.8 billion, thanks to growth in all its key business segments. They were lifted by strong demand for drinks products and...
Mainboard-listed conglomerate Fraser & Neave (F&N) has reported an 18 per cent drop in its first-quarter net profit to S$89 million. Revenue fell 6 per cent in the three months ending December to S$1.2 billion. This was due to lower property sales in its overseas projects and a drop in revenue from its dairies segment, as consumer sentiment was hit by the melamine scare last year. But F&N's...
Fraser and Neave (F&N) has sold a unit of its Soleil @ Sinaran residential development for $2.66 million to the relatives of its chairman Lee Hsien Yang (picture). Mrs Lim Chong Yah, who is Mr Lee's mother-in-law, and Ms Lin Xueling, his sister-in-law, bought the unit, located in the Novena area, during the public launch of the project, F&N said in a filing with the Singapore Exchange. The project...